Aggregated News From Investment Management Regulators

Information on the National Bank of Slovakia’s interim decision concerning restrictions on disposal of NOVIS assets

Report/Flag

Please complete the required fields.



The Financial Supervisory Authority of the Central Bank of Iceland (FSA Iceland) wishes to draw attention to the Decision on an Interim Measure taken by the National Bank of Slovakia (Národná banka Slovenska, NBS) on 5 November 2020, in which NBS places restrictions on the free disposal of the assets of NOVIS Insurance Company, NOVIS Versicherungsgesellschaft, NOVIS Compagnia di Assicurazioni, NOVIS Poisťovňa a.s. (NOVIS).

With this interim decision, NBS imposes restrictions on the free disposal of NOVIS assets. The company is now ordered to refrain from handling of assets; i.e., changing ownership of assets or transferring assets from the company’s bank accounts. Furthermore, the company is to refrain from concluding legal instruments that could lead to a reduction in the company’s assets. However, the company is authorised to dispose of its assets in specified instances; i.e., to cover various payments stemming from claims relating to insurance contracts and to ensure ongoing regular operations.

NOVIS is required to notify NBS if the company opens or closes bank accounts or custodial accounts for securities. Moreover, NOVIS is required to send NBS monthly statements of the company’s bank accounts, together with statements of transactions on those accounts.

Further information can be found in the decision by NBS.

FSA Iceland has reported on NBS’ previous interim decision, dated 11 September 2020, which remains in effect.

Source link

Regulator Information

Regulator Name: Central Bank of Iceland
Abbreviation: CB IS
Jurisdiction: Iceland

Recent Articles

SEC Charges Unlicensed Broker With Defrauding Investors

The Securities and Exchange Commission today charged Joshua L. Rupp of Michigan for engaging in securities fraud and for acting as an unregistered broker-dealer.  The SEC’s complaint, filed in the U.

Questions and Answers on the Prospectus Regulation – 10th version – July 2021

See the Details published by the Cyprus Securities and Exchange Commission (CySEC CY) here: Source link

Warning concerning the website www.lunav-invest.com

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the website www.lunav-invest.com where an entity named “Lunav-Invest” offers investment services, including...

Adjudication Order in respect of Mr. Ranjith Soman and Ms. Veena Ranjith in the matter of M/s. Crown Tours Ltd.

This news item was originally published by the Securities and Exchange Board of India (SEBI IN). See the article here: Read more

FIN-FSA decides not to extend its recommendation on distribution of credit institutions’ profits beyond 30 September 2021

The Financial Supervisory Authority (FIN-FSA) has decided not to extend its recommendation on the distribution of credit institutions’ profits beyond 30 September 2021. The...

Get the latest from Regulatory.News in your inbox!

×