Representatives of the Austrian Financial Market Authority visit Hanfa
Representatives of the Austrian Financial Market Authority (FMA) paid a working visit to the Croatian Financial Services Supervisory Agency (Hanfa), during which they met with members of Hanfa Board to discuss matters relating to the supervision of the non-bank financial sector, challenges faced by markets and regulators in implementing the European regulatory framework, and the growing regulatory obligations arising from it.
Representing the FMA at the meeting were Mariana Kühnel, Executive Director, and Martina Andexlinger, Managing Director of the Insurance, Pension and Corporate Provision Companies Supervision Department. Hanfa was represented by Deputy President of the Board Anamarija Staničić and Board Members Jurica Jednačak and Martina Verić, together with experts from both institutions.
The focus of the meeting was the identification of areas of common interest and the exchange of experience in the supervision of the non-bank financial sector, particularly in the context of current European regulatory initiatives and the work of the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA).
Discussions covered all areas within the scope of work of both institutions, with particular emphasis on the insurance market, pension funds and crypto-asset service providers.
Regarding the field of insurance, participants exchanged views and experiences with respect to the implementation of the Solvency II Directive, the Insurance Recovery and Resolution Directive (IRRD), the use of artificial intelligence tools in the insurance sector, and development of insurance distribution channels.
The participants also discussed the impact of digitalisation and the use of artificial intelligence tools in the financial sector, highlighting both the challenges and opportunities that new technologies present for market participants and regulatory authorities alike.
Hanfa also presented several of its current initiatives, including the launch of PutNaTržište regulatory sandbox, and activities related to the drafting of the Croatian Investment Account Act, which is being developed in cooperation with the Ministry of Finance.
The meeting reaffirmed the successful cooperation between Hanfa and the FMA to date, as well as the mutual commitment of both institutions to further strengthening their cooperation and continuing the exchange of expertise in all areas of common interest.
