New department in charge of regulatory supervision in the Life business sector
In January 2012, the department “Regulatory Supervision of the Life Portfolio” is formed in the Life business sector with the aim to strengthen first-level checks
under the responsibility of line functions (issuing, handling and settlement) in the field of money laundering and supervision of regulations. The department also supervises the office that deals with checking Life documentation in order to ensure the auditing of the same. The office Pension and Social Security Funds is also overhauled assigning and aggregating responsibilities by product line: Closed-end Contractual Funds and PIP funds and Open-Ended Funds.