IVASS – Public Consultation of the Draft Regulatory Order Amending the Provisions on Requirements and Eligibility Criteria for Exponents and Those Performing Key Functions

On 12 July 2023, IVASS published the draft Regulatory Order amending the provisions of Reg No. 29/2016 and No. 38/2018 concerning the requirements and eligibility criteria for those carrying out the role as company representatives and also those who perform key functions in public consultation.

The measure composed of 6 articles has the purpose of reconcilling the previous Regulatory texts with the supervening primary legislation .

Specifically, with the first two articles, IVASS intends to align the regulatory texts by including the criteria and requirements envisaged by MISE Decree 88/2022, eliminating the incompatible provisions associated with the latter , and with the requisites of the Code of Private Insurance .

The regulatory intervention which is subject to public consultation and put forward by IVASS is intended for insurance and reinsurance companies, for Ultimate Parent Companies , and for local and specific mutual insurance companies.

Interested parties can send their observations, comments and proposals by 10 October 2023 directly to the e-mail address, using the appropriate table attached to the draft Regulatory Order.