Vasil Golemanski, Chair of the Financial Supervision Commission (FSC), participated in the meeting of the Board of Supervisors of the European Securities and Markets Authority (ESMA), the independent EU authority playing a central role in the supervision of financial markets across the European Union.

A key focus of the discussions was the Market Integration and Supervision Package and its contribution to advancing the Savings and Investment Union, strengthening the competitiveness of EU capital markets and reducing regulatory burden. Board members also examined forthcoming legislative and regulatory amendments, including measures related to listing rules, market transparency, post-trade infrastructure and supervisory convergence.

During the debate, Mr Golemanski underlined the importance of ensuring that ambition is matched by operational feasibility:

“Deeper integration is essential if we want European savings to be channelled more effectively into investments that remain and generate value within the European Union, while reinforcing the EU’s position as an attractive and predictable place to do business. At the same time, proportionality must remain a guiding principle. Reforms should be sufficiently ambitious, yet workable in day-to-day supervisory practice, without creating unnecessary operational friction or new fault lines between markets.”

The FSC remains committed to ensuring that the Bulgarian non-banking financial sector is kept well informed of European regulatory developments and that the interests of the Bulgarian capital market are consistently and effectively represented in key supervisory discussions and decision-making processes at EU level.