PROPOSAL PROSPECTUS - ACCESS TO S.A.I.V.A.
In PG&P's Newsletter of March 2009 we explained the new online procedure called "S.A.I.V.A.", which allows the insurers to provide the information and documentation requested for the deposit of the public offer concerning life insurance policies by using the internet. Here, in the following we will sum up the additional innovations provided by CONSOB.
During the past seminar, which took place at the CONSOB head offices in Rome on 9 June 2009, the CONSOB delegation announced the upcoming issuance of a new form for the deposit of the proposal prospectus, which shall substitute the deposit sheet as of 2 March 2009.
Furthermore, CONSOB clarified that the investment proposals shall be different according to the underlying financial assets and the underwriting modalities and that the deposit form shall substantially coincide with the investment offer contained in the proposal prospectus.
It shall be highlighted also that the procedure for the assignment of username and password for the access to the online deposit procedure already started. For this purpose, insurance companies, including those based in a Member State and operating in Italy under the services or the establishment principle, are invited to request registration with CONSOB. The legal representative or any other delegated person invested with the necessary powers may fix a date for collecting the company's username and password at the CONSOB head offices in Rome.
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