In sequence of the Public Consultation No. 7/2023, the ASF approved Regulatory Standard No. 11/2023-R, which regulates the use of the Legal Entity Identifier (LEI) by entities subject to supervision by the Insurance and Pension Funds Supervisory Authority (ASF).
This Regulatory Standard is aimed at insurance and reinsurance companies, pension fund management companies, pension funds, insurance intermediaries and other entities related to the insurance and pension fund sector. These entities are now required to have a LEI issued by a Local Operating Unit (LOU), and must request the issuance of the LEI within 30 days from the date of entry into force of Regulatory Standard No. 11/2023-R. Furthermore, the respective issuance or expiry of the LEI must be communicated to the ASF within five working days from the date of its issuance or expiry.
This Regulatory Rule entered into force on 13 December 2023 and is available here.