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Announcement to the issuers about COVID 19

In respect of the main objectives set in the Financial Supervision Commission Act, namely investors protection and stability maintenance on the Bulgarian financial market, the Financial Supervision Commission performs incessant and strict monitoring of the dissemination of COVID-19 and its impact on the financial markets, the trading in financial instruments and the activity of the supervised persons. In this connection it gives the following respects to the securities issuers:
  • The issuers should at the first opportunity disclose information about the COVID 19 influence on their activity and financial state, in compliance with the requirements of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC Text with EEA relevance;
  • The issuers should disclose information about the actual or potential influence of COVID 19 on their activity, as well as on their financial and economic state, whereat they include in their financial reports qualitative and quantitative assessment of the influence in question, namely in the audited annual reports for 2019, in case where the latter are not made until the date of the current message, or in their interim financial reports.
To this effect are the recommendations made by ESMA regarding the impact of COVID 19 on the financial market participants, which are available at the following link.