On Jul. 23, FR AFG issued alert on required registration with ORIAS.
FR AFG issued a note on requirements for ORIAS registration requirements for Sociétés de Gestion de Portefeuille (SGPs), when carrying out activities related to life insurance.
Relates to the publication of the relevant implementing texts of Green Industry Law.
Follows FR ACPR Feb. 2023 called for broker vigilance on new condition, see #163470.
Follows FR AFG Jul. 2024 highlighted green industry implementing text, see #219401.
Note Overview
Following discussions with the FR ACPR, the FR AFG informed management companies of the situations in which they will have to obtain insurance intermediary status with ORIAS to provide services within the framework of life insurance arbitration mandates.
This registration requirement relates to membership of the Organization for the Single Register of Insurance, Banking and Finance Intermediaries (ORIAS), for relevant users.
A link to a note on requirements is provided but access is only available to members.
Effectiveness
The relevant note specifies these situations and reminds that any registrations must be effective by Oct. 24, 2024, which is date of entry in force of reform for new contracts.
