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THE FINANCIAL SUPERVISION COMMISSION /FSC/ APPOINTED THE NEW INDEPENDENT EXTERNAL REVIEWERS OF THE INSURANCE AND PENSION COMPANIES, WHICH REPLACES CONTRACTS WITH RSM BULGARIA

With a Decision dated September 15, 2016, the FSC appointed the new independent external reviewers of the insurance and pension insurance companies, which earlier in 2016 had concluded contracts with RSM BULGARIA. The new appointments follow the fact that on September 2, 2016 the FSC expelled RSM BULGARIA because of substantial incorrect information in the company’s documents. More information on this decision is available on the following address: http://www.fsc.bg/bg/novini/kfn-izklyuchi-rsm-balgariya-ood-ot-spisaka-na-nezavisimite-vanshni-proveryavashti-na-zastrahovateli-i-pensionni-fondove-8206.html

In line with the FSC’s Decision from September 2, 2016 the insurance and pension insurance companies were required to immediately terminate their contracts with RSM BULGARIA and to appoint a new reviewer until September 12, 2016. With today’s Decision the FSC assigns the new independent external reviewers of these companies. Their appointments are available in the attached file.

In regard to the today’s Decision, the Chairperson of the FSC Ms Karina Karaivanova stated the following:
“In order not to delay the process of the reviews of the insurance and pension insurance companies, we have made sure that we could assign the new reviewers as quickly as possible. I would like to confirm our firm intention the reviews of the sector to end until the end of the year.”