Operative entities of the financial system

A. Definition of the reporting entity

The operating entities of the financial system are reporting entities on the matter of AML/CTF. The operating entities of the Andorran financial system are considered to be the following:

a) Banking entities;
b) Investment firms (financial investment companies, financial investment agencies, wealth management companies and financial advisors);
c) CIS management companies;
d) Non-banking specialized credit institutions;
e) Payment institutions; and
f) Electronic money institutions.

Non-resident natural and legal persons carrying out activities of equal nature as the aforementioned in the Principality of Andorra are also considered to be reporting entities.

For more information

Law 7/2013, on 9 May, on the legal regime of the operative entities of the Andorran financial system and other provisions regulating the exercise of financial activities in the Principality of Andorra


B. Obligations of the reporting entity

The main obligations attributed to the operating entities of the financial system in the matter of the prevention of money laundering and terrorist financing are the following: