The Italian Insurance Supervisory Authority (IVASS) issued document n. 2/2023 (the “Document”), starting the so-called “public consultation” phase, before amending Regulation No. 40 of the 2nd of August 2018 (“Regulation 40”).
More in details, the scope of the amendments is as follows.
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New technical procedure to submit applications to “R.U.I.” web portal
To change the technical procedure for insurers and intermediary to enter and handling the web portal dedicated to the insurance intermediary register (so called “R.U.I.” or the “Register”).
The access will be allows through the so called digital identity (or “SPID”), the national services card (“CNS”) and the electronic identity card (“CIE”).
Therefore, the Document provides for the amendment of all provisions involving submission via certified email, pursuing the objectives of:
(a) providing the applicant with direct access;
(b) modernize the application that manages the Registry;
(c) expand the system's ability to manage and maintain the information acquired;
(d) foster interaction between users and IVASS through the availability of a range of data in relevant areas;
(e) simplify the procedures for mass data submission.
Conclusively, the applicant will send the application (without the electronic signature, as instead happens today):
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directly by accessing the RUI portal through SPID, CNS or CIE, if the applicant is a natural person (Italian or EU intermediary carrying on business under the right of establishment);
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by the legal representative through SPID, CNS or CIE, in the case of an Italian intermediary legal person;
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by the person in charge of the branch office through SPID, CNS or CIE, in case of an EU intermediary carrying on business under the right of establishment legal person;
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to a dedicated email account, if the applicant is an EU intermediary carrying on business in Italy under FoS.
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Communication of the legal representative / person in charge of the branch office
In order to enable an orderly management of the Register, IVASS proposed to introduce a new requirement, i.e. for the intermediaries to notify IVASS appointments and terminations of legal representative (if the relevant entity is an Italian Intermediary) and of the heads of the branch (if the entity is an EU intermediary carrying on business in Italy under the right of establishment).
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The deadline for the market players to provide their comments on IVASS’ proposal is the 2nd of May 2023. After that, amendments to Regulation 40 (as possibly changed by IVASS in the light of the market players’ comments) will be enacted.
