The Commission revoked the license of investment intermediary “Fix Plus Financial House” AD. The main reasons are that the company  does not comply with the legal requirements for capital adequacy and liquidity.

The Commission approved the request of two investment intermediaries – “East Finance” and “ABV – Investments”   to limit  the scope of their activity. According to the decision the investment intermediaries can not execute transactions with securities for their own account, as well can not underwrite issues of securities and manage individual portfolios of securities and/or money.

The Commission approved prospectus for secondary public offering of bonds issued by company  “Chernomorsko zlato” AD,  Pomorie. The bonds issue has the following characteristics :

Issuer : Chernomorsko zlato” AD, Pomorie
Type of securities: ordinary, dematerialized, fully transferable, corporate bonds
Size of the issue: 10 000 bonds
Nominal value:  BGN 1000  per bond

In connection with publications in the media regarding unlawful deals with property of  public company “Sofia Film”, the Deputy Chairman of FSC,  Head of Investment Supervision Division, took a decision for initiation of revision of “Sofia Film”. The revision has to establish whether the requirements of the Law on Public Offering of Securities are abided.

In case violations of the law are established further actions will be undertaken.

The Commission approved a draft Ordinance on the obligatory insurance. The draft will be discussed with the interested parties and published in the Bulgarian version of our web site.

The Deputy Chairman of FSC, Head of Insurance Supervision Division  approved Mrs. Albena Lilova as an actuary  of Bulgarian Agency for Export  Insurance.

The Deputy Chairman of FSC, Head of Insurance Supervision Division issued license to operate as an insurance broker to the following company “Avitzena – Bionet” EOOD.

The Commission revoked the license of investment intermediary Tresor AD. The main reasons are that the company  does not comply with the legal requirements for capital adequacy and liquidity.

The Commission approved a draft Ordinance for amendments of Ordinance N 6 for the capital adequacy and the  liquidity of the investment intermediaries.
The amendments are further step in the process of harmonization of  the Bulgarian legislation with the European one, and are related to the requirements for formation of the own capital of the investment intermediaries.

The Commission approved a draft Ordinance for custodian and consultative councils of the funds  for supplementary pension insurance.
Subject of the ordinance are the methods and terms for establishment of the councils, membership, functions and other details pertinent to the functioning of the councils.