Support of "Solvency II" in the Aegon IFA

We have added a new function to the Internal Funds Administration System (IFA), in line with the European Solvency II Directive. The Aegon insurance company thus adapts its information system to legislation aiming at unifying the insurance market in the European Union and improving client protection.

The regulation is built on three pillars:

• 1) Quantitative requirements: e.g. valuation of assets and liabilities, technical reserves, own resources, and more;
• 2) Qualitative requirements: management, risk management and supervision;
• 3) Requirements for compliance with market rules, disclosure and reporting.

MiFIR transaction reporting

Factory 4 Solutions a.s. successfully completed the implementation of daily reporting of transactions in investment instruments into the PIC business system in accordance with the requirements of the Markets in Financial Instruments Regulation (MiFIR).

GDPR functions implemented in the commission system

In cooperation with the Czechoslovak Commercial Bank, a.s. we have adapted the PrISBank system to the requirements of the European Union Privacy Act (GDPR). The new legislation brings significant changes and obligations. PrISBank secures the automatic forgotten of personal data at defined intervals, with pre-set deadlines for different types of recorded records.