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Legislation Related to the Financial Sector in Andorra

Overview of Legislation

The government of Andorra has introduced various decrees and regulatory documents in 2023 and 2024 to address the needs of the financial sector. These documents cover a range of topics, including banks, non-bank specialized credit institutions, financial investment companies, and collective investment schemes management companies.

Key Areas Covered by Legislation

The legislation can be categorized into several key areas:

Regulation

• Documents that establish or modify regulations related to the financial sector:
  • Decret 24/2024: Adopt EU norms on recovery and resolution of banks and investment firms.
  • Other relevant documents.

Recovery & Resolution

• Documents related to the recovery and resolution of financial institutions:
  • Decret 16/2024: Introduces measures in response to the conflict between Ukraine and Russia.
  • Other relevant documents.

Solvency

• Documents related to the solvency of financial institutions:
  • Decret 404/2023: Finalizes a program of credits with government guarantees.
  • Other relevant documents.

Accounting Regulations

• Documents related to accounting practices in the financial sector:
  • Decret 405/2023: Modifies previous measures related to the conflict between Ukraine and Russia.
  • Other relevant documents.

COVID-19 Response

• Documents related to the response to the COVID-19 pandemic in the financial sector:
  • Decret 404/2023: Finalizes a program of credits with government guarantees.
  • Other relevant documents.

Focus of Legislation

The legislation appears to be primarily focused on responding to the COVID-19 pandemic and the conflict between Ukraine and Russia, as well as establishing or modifying regulations related to the financial sector.