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FSC announcement in connection with COVID-19


In order to achieve the main purposes set in the Financial Supervision Commission Act, namely investors protection and stability maintenance on the Bulgarian financial market, the Financial Supervision Commission performs permanent and severe monitoring of the impact and spread of coronavirus infection COVID-19 over the financial markets, financial instruments trade and supervised persons activity.

The Financial Supervision Commission maintains continuous contact with the financial market participants in Bulgaria, as well as with the other EU competent authorities supervising market participants activities on the European financial markets.

In order to adequately manage the risk of high volatility in the capital markets and protect the interests of investors, a process of analysis and assessment of operational risks by market participants of all their internal rules and procedures related to ensuring stability and continuity with respect to their activity has been initiated. Emergency rules and procedures ensure that market participants can continue to operate in compliance with all applicable regulatory requirements and, while at the same time care for their employees.

In line with this are the recommendations of the European Securities and Markets Authority on the impact on financial market participants of the spread of COVID-19, which can be found at the following link:

 https://www.esma.europa.eu/press-news/esma-news/esma-recommends-action-financial-market-participants-covid-19-impact