Regulatory function

  • We issue, among others, technical communiqués, communications and/or recommendations in order to develop regulations and technical instrumental norms regarding the exercise of banking activities, the activities of operating entities in the financial system and any other activity, when required by law. Thus, the AFA may issue:
    • Technical Communiqué: any mandatory norm/regulation that may affect supervised entities.
    • Communications and/or recommendations: specific information requests or any other communication that the Authority considers relevant to any of the supervised entities, or their sub-groups.

The Technical Communiqués are published in the Regulations section of the AFA´s website, while the Communications are exclusively published in the Virtual Office - Private area section of the AFA´s website, which is accessible for affected entities, depending on the type of Communication issued.

Additionally, the AFA may demand requests for specific information from supervised entities individually, by means of a letter addressed directly to said entities.

In carrying out this function, the AFA may submit the relevant regulatory proposals to the financial sector agents and will always consider the following factors:

  • That the costs executing the regulation be proportionate to the benefits of its implementation;
  • The international standards in the matter;
  • The impact of its implementation on the competition, the capacity for innovation and the international competitiveness of the Andorran financial market.

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