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Financial Supervision Commission completed the procedure for appointment of independent external reviewers. The reviews in the insurance and pension funds sectors shall start in the approved term on July, 15th 2016

At its meeting as of July 14, 2016 FSC took a decision to appoint independent external reviewers to five insurers. With this the procedure for appointing independent external reviewers for review of the pension fund assets and the balance sheets of insurers successfully completed and the reviews start on time and as planned on 15 July 2016.

The FSC decision is adopted in full compliance with the decision of the Steering Committee (SC). The Steering Committee, which oversees the reviews, includes representatives from the FSC and European Insurance and Occupational Pensions Authority/EIOPA (voting members), as well as representatives from the Ministry of Finance, the Bulgarian National Bank, European Commission and European Securities and Markets Authority/ESMA (observers with advisory powers). All FSC decisions on the organization and conduct of both reviews until present are adopted in full compliance with the SC decisions.

Information about the appointed on 14 July 2016 independent external reviewers may be found in the attached file at the following link:http://www.fsc.bg/en/supervised-entities/reviews-of-the-bulgarian-pensions-and-insurance-sector-2016/