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  • Andorra, Principality of x
  • Insurance; Insurance Companies; Actuarial Studies x
  • Corporate crime; white-collar crime x
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Cover IMF Staff Country Reports
Andorra: Assessment of Financial Sector Supervision and Regulation
International Monetary Fund
This paper discusses key findings of the assessment of Financial Sector Supervision and Regulation in Andorra. The assessment reveals that bank supervision in Andorra is broadly sound and has improved since the 2002 assessment. Institut Nacional Andorrà de Finances’ (INAF) new charter strengthened its independence and remedial powers. But these could be further strengthened by empowering it to impose all types of sanctions. Developing INAF’s onsite supervisory capacity and clarifying its requests to external auditors will be important for the bank and nonbank financial sectors.
Keywords:
ISCR; CR; Andorran bank; INAF directive; revoking bank license; INAF supervision; banks assets; charter Andorra; INAF work; Institut Nacional Andorrà; Insurance companies; Insurance; External audit; Commercial banks; Anti-money laundering and combating the financing of terrorism (AML/CFT); Europe; North America; Northern Europe