Financial Supervision Commission

The Bulgarian legislators have imposed an upper limit for the salary of the head of the country's financial regulator, making it equal to the wage of the Speaker of Parliament.

Bulgaria's Financial Supervision Commission (FSC) has warned the potential investors about 18 firms that are not entitled to operate as investment intermediaries in the country.

"The list of the firms, which haven't been licensed by the FSC, will help prevent fraud when investment is made in financial instruments," the financial watchdog said in a statement on Wednesday.

Bulgaria's Financial Supervision Commission (FSC) has refused to approve the IPO prospectus of Smart Organic AD, a producer and distributor of organic products.

The Bulgarian company will not appeal the decision or try to remove the alleged omissions and regularities, according to its majority owner, Yani Dragov, as cited by investor.bg.

Industrial Holding Doverie AD, a subsidiary of Doverie Obedinen Holding AD, has signed a preliminary contract for the acquisition of 99.53% of the capital of Tokuda Bank AD, according to an official media statement of the company.

Emil Karanikolov, head of the Privatization and Post-Privatization Control Agency, has said that the State Agency for National Security (DANS) will be consulted on the privatization of the Central Depository AD.

Bulgaria's Tourism Ministry prepares legislative amendments, which will offer better protection to users in cases of unfulfillment of paid organised excursions or bankruptcy of tour operators.

These measures are foreseen after the latest in a series of tour operator bankruptcies, which left 300 people without a holiday.

Bulgaria's Parliament is to vote Wednesday on the resignation of the Deputy Chair of the Financial Supervision Commission (FSC) Nikolay Popov, who resigned on Tuesday for personal reasons.

Popov was elected FSC Chair on May 22, 2012 and his term in office was to end on July 15, 2015, according to the website of the commission, as cited by dnevnik.bg.

Stoyan Mavrodiev, Chair of Bulgaria's Financial Supervision Commission (FSC), met with Vitor Constancio, Vice-President of the European Central Bank (ECB) during a working visit to Frankfurt.

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GERB has called for drastic reforms and replacement of the central bank’s governing council should the party win majority in the upcoming snap vote.

Bulgarians have saved some BGN 1813.61 on average for their second supplementary pension, the latest data provided by the Financial Supervision Commission showed.

The savings of people born after 1959 have increased by nearly BGN 172 in six months, Sega Daily informs.