Decision from FSC’s meeting held on 9 March, 2011

At its meeting on 9 March, 2011, FSC took the following decision:

1.  Sivov – Group EOOD, town of Burgas notified FSC of its intention to carry out activity as insurance broker under the freedom to provide services on the territory of Romania, Greece, Poland, Hungary, Austria, Germany, Italy, France and the United Kingdom. FSC will inform the relevant competent authorities of the host Member States about the intention of the insurance broker to pursue business on their territories.

Summarized data on the insurance brokers for 2010

The presented individual data from the reports of the insurance brokers, registered in the Republic of Bulgaria as of 31 Dec., 2010 are summarized and published on the FSC’s web site – www.fsc.bg, in Section  E-Library, Statistics, Insurance market, Insurance brokers.
In 2010, the premium income realized through insurance brokers was at the amount of BGN  736 703 thousand, from which BGN 689 823 thousand in favor of insurers having a legal seat in Bulgaria, BGN 42 662 thousand in favor of insurers from other EU Member States and BGN 4 218 thousand in favor of the voluntary health insurance companies.
The revenues from commissions of the insurance brokers amounted to BGN 171 655 thousand, including BGN 165 260 thousand – in the intermediation with insurers having a legal seat in Bulgaria, BGN 5 878 thousand – in the intermediation with insurers from other states and BGN 517 thousand. – in the intermediation with voluntary health insurance companies.
The brokers’ commissions towards the realized through them premium income in favor of insurers having a legal seat in Bulgaria were 23,9 % in the general insurance and 24,7 % in life insurance.

Eurobank EFG Bulgaria AD can start offering in Bulgaria the units of two new Sub Funds

At a meeting held on 16 March, 2011, FSC took a decision that Eurobank EFG Fund Management Company (LUX) S.A., Luxembourg, through its representative for Bulgaria, Eurobank EFG Bulgaria AD, can begin offering in the Republic of Bulgaria the units of the managed by it Sub Funds of LF Mutual Fund: (LF) Fund Special Purpose Equity Formula Bonus (RON) and (LF) Fund Special Purpose – EUR/PLN FX Formula.

FSC adopted practice on the requirements to the content of the prospectuses for public offering and admission to trading on a regulated market of bond issues

At a meeting on 16.03.2011, FSC adopted Practice on implementation of Art. 92, para 1, Item 3, last proposition, of the Law on Public Offering of Securities (LPOS)  on the requirements to the content of the prospectuses for public offering and admission to trading on a regulated market of bond issues in connection with possible changes in the conditions under which the bonds were issued.
The practice aims at clarifying the scope of the disclosed in the prospectuses information in relation to the possibility for change in the conditions under which the bonds were subscribed, with the purpose of protecting the interests of investors in bonds, including through enhancement of their knowledge, and as consequence, improvement of the transparency, stability and trust in the capital market.

Decisions from a meeting of FSC on 23 March, 2011

At its meeting held on 23 March, 2011, FSC took the following decisions:

1. Entered an issue of shares, issued by Mekom AD, town of Silistra, issued as a result of increase in the capital of the company. The issue is at the amount of BGN 284 775, divided in  284 775 obligatorily convertible preference shares without right to vote, with 18% guaranteed dividend, having a par value of BGN 1 each.

2. Approved a prospectus for public offering of shares of Intercapital Property Development REIT, city of Sofia, at the amount of BGN 9 017 214, divided into 9 017 214 common shares with a par value of BGN 1 each and issue value of BGN 2.30 each. Entered the issue of shares (in process of issuing) in the FSC Register.

3. Halifax Consultancy EOOD, city of Burgas, notified FSC of its intention to carry out activity as an insurance broker. The company intends to pursue business under the freedom to provide services on the territory of Ireland and the United Kingdom. FSC will inform the relevant competent authorities of the host Member States about the intention of the insurance broker to pursue business on their territory.

Globalisation redefined The 2009 Emerging Markets Summit September 17th-18th 2009, London

A rich, focused and interactive debate for senior executives and business leaders from around the world.  The expert speakers, including 5 prime ministers of the Republic of Tunisia, Turkey, Rwanda, Philippines and Thailand; ambassadors; and entrepreneurs; will provide, unique insights and will challenge your perspectives on the opportunities and issues affecting emerging markets. CEOs from major global and emerging companies are also confirmed. They include: AirAsia, Alstrom India, Augere, GE International, Goldman Sachs India, Morgan Stanley Asia, Petrofac, Petróleo Brasileiro, Rosneft, The Coca-Cola Company, Unilever, Wal-Mart and many more…
 FSC Bulgaria contacts will receive a 25% discount (£300 off the full delegate fee).
 Register online at www.emergingmarketssummit.com 
and quote “FSC” or call Krupa Patel on +44(0)20 7576 8118 to reserve your place.