Mariya Filipova, Deputy Chairperson of the Financial Supervision Commission, Head of the Investment Supervision Department, participates in a BSE initiative in support of women’s leadership on the occasion of International Women’s Day

The Deputy Chairperson of the Financial Supervision Commission, Head of the Investment Supervision Department, took part in “Ring the Bell for Gender Equality”, an international initiative dedicated to the celebration of International Women’s Day – March 8. The women’s management team of the Bulgarian Stock Exchange (BSE) and Ms. Mariya Filipova, a representative of the leadership team of the Financial Supervision Commission (FSC), started the stock exchange session today.

“Today we have the opportunity to recognize the important role of modern women in a professional aspect. Women contribute with their unique leadership style, with their care for the teams they lead in a crisis and with the achievements measurable in various areas of life. What is specific about the non-banking financial sector in Bulgaria is that it has the important task and responsibility to develop the capital market in the digital age, and the participation of women in implementation and management will undoubtedly contribute to more communication, innovation and partnership.” Mariya Filipova.

The grand opening of the stock exchange session was attended by Hristina Pendicheva – state expert in the Ministry of Finance and member of the Board of Directors of the BSE and Vasil Golemanski, Deputy Chairperson of the Board of Directors of the BSE.

“We are proud of the strong representation of women at all levels of the stock exchange. The fact that it operates seamlessly and successfully during a pandemic is also reflected in the values of respect for diversity and gender equality that are fundamental to us. In this regard, we believe that we are a good example to follow,” said Vasil Golemanski, Deputy Chairperson of the Board of Directors of the BSE.

The initiative is being held for the seventh time and this year covers more than 90 exchanges worldwide. Its current edition is entitled “Women in leadership: Achieving an equal future in a COVID-19 world” in honour of women leaders and women’s organizations who demonstrate their knowledge, skills and qualities to lead effectively in the recovery of the Covid-19 pandemic. It is held in partnership with the International Finance Corporation (IFC), the World Federation of Exchanges (WFE), the Sustainable Stock Exchange Initiative (SSE Initiative), of which the BSE is a member, the UN Global Compact, UN Women and Women in ETFs (WE) , in order to promote gender equality in the field of capital markets.

List of candidates admitted to the examination for professional qualification of insurance brokers, to be held on 27.11.2021.

After checking all submitted applications and accompanying documents, the Deputy Chairperson of the FSC, head of the Insurance Supervision Department, decided to admit the following candidates to the exam:

Reference number          Decision No.

РГ-14-159-1/15.10.2021               791-ЗБ/28.10.2021         admitted

РГ-14-160-1/19.10.2021               793-ЗБ/01.11.2021         admitted

РГ-14-161-1/20.10.2021               792-ЗБ/01.11.2021         admitted

РГ-14-162-1/01.11.2021               801-ЗБ/02.11.2021          admitted

РГ-14-163-1/01.11.2021               802-ЗБ/02.11.2021         admitted

РГ-14-164-1/02.11.2021               810-ЗБ/09.11.2021         admitted

РГ-14-165-1/04.11.2021               807-ЗБ/05.11.2021         admitted

The examination will be conducted in accordance with all adopted anti-epidemic measures. In connection with Order No. РД-01-856 of 19.10.2021, supplemented on 21.10.2021, of the Minister of Health (MH) and in particular with item 2 and item 31, the admitted candidates should meet the requirement to be vaccinated or have recovered from COVID-19 or have a negative test result, certified by valid documents for vaccination, recovery or testing within the meaning of Order No. РД-01-733 of 27.08.2021 of the Ministry of Health.

Joint Supervisory Action 2022 on the valuation of assets in UCITS and AIF portfolios

The European Securities and Markets Authority (ESMA) has launched a Common Supervisory Action (CSA) with National Competent Authorities (NCAs) on the valuation of UCITS and open-ended Alternative Investment Funds (AIFs) throughout the European Union.

 The common supervisory action will take place in 2022. The aim is to establish whether the organizational rules and legal framework on the principles and methodologies for valuing financial assets held by UCITS and AIFs are complied with, with a view to carrying out a fair and equitable valuation as in normal and under stressful market conditions, in particular with regard to the valuation of investments in illiquid assets.

 The full ESMA communication can be found at: https://www.esma.europa.eu/press-news/esma-news/esma-launches-common-supervisory-action-ncas-valuation-ucits-and-open-ended

Integration of new communication software in the FSC

In pursuance of the objectives set before the Financial Supervision Commission, Mr. Boyko Atanasov presented a communication on the successfully completed process of integrating new communication software in the Commission.

“The changes are part of the Commission’s strategy to improve online services and channels for its communication with supervisors, consumers of non-banking financial services and society at large. Our ultimate goal is timely communication and information,” said Boyko Atanasov.

Information in connection with Council of Ministers Decision No. 441 of 04.06.2021

Pursuant to Council of Ministers Decision No. 441 of 04.06.2021 and published list of persons who fall or could fall within the scope of sanctions imposed by the Office of Foreign Assets Control (OFAC) by the United States Department of the Treasury, the Financial Supervision Commission informs that:

 has no relations with persons included in the list under item 1 of Decision of the Council of Ministers No. 441 of 04.06.2021

 in accordance with its legal powers and the current regulatory requirements it observes and is ready to assist the competent authorities under item 1 of Decision of the Council of Ministers No. 441 of 04.06.2021 on the persons included in the scope of inspections.

The FSC emphasizes that in its supervisory practice it will continue to take all legally regulated and necessary measures to preserve the stability of the capital market and the non-banking financial sector as a whole, prevention of illegal practices leading to damage to the confidence of the investment community.