Andorran Financial Authority: Strengthening Compliance and Regulations for Financial Institutions in Andorra
The Andorran Financial Authority (AFA) plays a crucial role in ensuring the stability, security, and integrity of the financial system in Andorra. As part of its mission, the AFA has implemented various compliance and regulations to protect consumers and promote fair competition among financial institutions.
Entities under Supervision
The AFA supervises a wide range of entities, including:
- Banks
- Non-bank specialized credit institutions
- Investment firms
- CIS management companies
- Payment institutions
- Electronic money institutions
- Financial agents
- Andorran CIS
- Foreign CIS
- Insurance and reinsurance companies
- Insurance mediators
The authority’s supervision focuses on ensuring that these entities operate in a safe and sound manner, comply with relevant laws and regulations, and provide high-quality services to their clients.
Authorisation Process
The AFA is responsible for authorising the creation of new financial institutions in Andorra. The process involves:
- Reviewing the entity’s business plan
- Assessing its organisational structure
- Evaluating the management team to ensure they meet the authority’s requirements and standards
Consumer Protection
At the AFA, we are committed to protecting consumers by:
- Providing accurate and timely information about financial services offered by supervised entities
- Working closely with these entities to prevent and detect potential fraud and other illegal activities
Official Register
The AFA maintains an official register of all licensed financial institutions in Andorra, providing a comprehensive overview of:
- Entities under our supervision
- Authorisation status
- Licence type
- Contact information
Regulation
The AFA regulates the provision of financial services in Andorra through various laws, regulations, guidelines, and recommendations. Our regulatory framework is designed to ensure that financial institutions operate in a safe and sound manner, comply with international standards, and provide high-quality services to their clients.
Press Room
Stay up-to-date on the latest developments in Andorra’s financial sector by visiting our Press Room, where you can find:
- Latest press releases
- News articles
- Publications
- Newsletter subscription service
Transparency
At the AFA, we are committed to transparency and openness in our operations and decision-making processes. We believe that this approach helps build trust with our stakeholders.
Contact Us
If you have any questions or concerns about the Andorran Financial Authority or our role in regulating the financial sector in Andorra, please do not hesitate to contact us. We are always happy to provide information and assistance to those who need it.
FAQs
We have compiled a list of frequently asked questions (FAQs) that provide additional information on various topics related to the AFA’s activities and services. You can access these FAQs by clicking here.
By strengthening compliance and regulations for financial institutions in Andorra, we are helping to create a stable and secure financial system that benefits both consumers and businesses alike.