The ASF powers are: institutional, regulatory, of authorization or non-opposition, of registration or certification, to carry out on site and off site supervision, of enforcement, of repeal and to impose administrative penalties.
The powers and duties entrusted to the ASF for the pursuance of its mission are essentially set out in the following Legal Acts:
- Statute (Decree-Law no. 1/2015, of 6 January);
- Framework law of regulatory authorities (Law no. 67/2013, of 28 August);
- Legal framework governing the taking-up and pursuit of the Insurance and Reinsurance activities (Decree-Law no. 94-B/98, of 17 April, as amended and republished by Decree-Law no. 2/2009, of 5 January).
Amendments: Decree-Law no. 91/2014, of 20 June, Law no. 46/2011, of 24 June, Decree-Law no. 52/2010, of 26 May and Law no. 28/2009, of 19 June;
- Legal framework governing the setting-up and operation of Pension Funds and Pension Fund management companies (Decree-Law no. 12/2006, of 20 January);
Amendments: Decree-Law no. 18/2013, of 6 February, Decree-Law no. 357-A/2007, of 31 October and Decree-Law no. 180/2007, of 9 May;
- Legal framework governing the taking-up and pursuit of Insurance and Reinsurance mediation (Decree-Law no. 144/2006, of 31 July).
Amendments: Decree-Law no. 1/2015, of 6 January, Law no. 46/2011, of 24 June and Decree-Law no. 359/2007, of 2 November.