| OFFICIAL GAZETTE OF ROMANIA, PART I, No. 139/22.II.2008 | 5 |
ACTS OF THE SUPERVISORY COMMISSION OF
THE PRIVATE PENSION SYSTEM
SUPERVISORY COMMISSION OF THE PRIVATE PENSION SYSTEM
DECISION
for the approval of Norm no. 4/2008 regarding reporting and transparency obligations in the privately administered pension system
Pursuant to the provisions of art. 23 lit. b), f), g) and h) of the Government Emergency Ordinance no. 50/2005 regarding the establishment, organization and operation of the Supervisory Commission of the Private Pension System, approved with amendments and additions by Law no. 313/2005,
according to the Decision of the Parliament of Romania no. 24/2006 regarding the appointment of the president, the vice-president and the other members of the Council of the Supervisory Commission of the Private Pension System,
considering the provisions of art. 55 para. (12) and (14), art. 111—114 and of art. 128 lit. g) from Law no. 411/2004 on privately managed pension funds, republished, with subsequent amendments and additions,
on the basis of the decision taken at the meeting of the Private Pension System Supervisory Board of January 22, 2008,
The Supervisory Commission of the Private Pension System issues the following decision:
Art. 1. — Norm no. is approved. 4/2008 regarding reporting and transparency obligations in the privately administered pension system, provided for in the annex that is an integral part of this decision.
Art. 2. — This decision and the norm referred to in art. 1 is published in the Official Gazette of Romania, Part I, and on the website of the Private Pension System Supervisory Commission (www.csspp.ro).
Art. 3. — The authorization-regulation department together with the technical secretariat and the general director will follow the fulfillment of the provisions of this decision.
The President of the Supervisory Commission of the Private Pension System,
Mircea Oancea
Bucharest, February 12, 2008.
No. 10.
ANNEX
NORM No. 4/2008
regarding reporting and transparency obligations in the privately administered pension system
Considering the provisions of art. 55 para. (12) and (14), art. 111—114 and of art. 128 lit. g) from Law no. 411/2004 on privately managed pension funds, republished, with subsequent amendments and additions,
pursuant to the provisions of art. 23 lit. b), f), g) and h) of the Government Emergency Ordinance no. 50/2005 regarding the establishment, organization and operation of the Supervisory Commission of the Private Pension System, approved with amendments and additions by Law no. 313/2005,
The Supervisory Commission of the Private Pension System, hereinafter referred to as the Commission, issues this rule.
CHAPTER I
General disposition
Art. 1. — This rule regulates the reporting and information transmission obligations of the administrators of privately managed pension funds, of the asset depositories of privately managed pension funds, as well as of marketing agents, legal entities, who carry out marketing activities of pension funds privately administered pensions, hereinafter referred to as reporting entities.
Art. 2. — (1) Administrators who operate in the privately managed pension system regulated, supervised and controlled by the Commission, as well as those who have been authorized, will submit reports and information to the Commission and to the participants of privately managed pension funds , approved or subject to a similar procedure in order to operate as administrators of privately administered pension schemes in a member state of the European Union or belonging to the European Economic Area and which administer privately administered pension funds with participants from Romania.
(2) The custodians who have been approved by the Commission in order to carry out the activity of depositing the assets of privately managed pension funds, as well as those who have been authorized, approved or subject to a similar procedure in a member state, will submit reports and information to the Commission of the European Union or belonging to the European Economic Area, for privately administered pension funds authorized in Romania.
(3) Marketing agencies, legal entities, pension brokers or intermediaries, who have been authorized/approved by the Commission to carry out marketing activities of privately managed pension funds, will submit reports and information to the Commission.
Art. 3. — The terms and expressions used in this norm have the meaning provided for in art. 2 of Law no. 411/2004 on privately managed pension funds, republished, with subsequent amendments and additions.
CHAPTER II
Obligations of reporting entities
Art. 4. — (1) The reporting entities must comply, throughout their operation, with the obligations of reporting and transmitting information to the Commission and to the participant, as the case may be, established by the legislation in force and by this rule.
