The lists of insurance companies and insurance intermediaries from EU Member States that have stated their intention to operate on the territory of the Republic of Bulgaria have been updated

 For the period 01.03.2021 – 31.03.2021 the FSC received 1 (one) notification from the competent national authority of an EU Member State regarding the intention of an insurer based in its territory to operate on the territory of the Republic of Bulgaria under the terms of the freedom to provide services.

 During the same period, the FSC received notifications from the competent EU supervisory authorities regarding the intention of 26 (twenty-six) insurance intermediaries based in EU Member States to carry out insurance intermediation activities on the territory of the Republic of Bulgaria under the terms of freedom to provide services, as well as 1 (one) notification for termination of the activity of insurance mediation on the territory of the Republic of Bulgaria under the terms of the freedom to provide services.

 As of 31.03.2021, the number of insurers based in other EU Member States which have notified the FSC of their intention to operate on the territory of the Republic of Bulgaria amounts to 428 (four hundred and twenty-eight). At the same date, the insurance intermediaries which intend to carry out insurance intermediation activities on the territory of the Republic of Bulgaria are 2,251 (two thousand two hundred and fifty-one).

 For the period 01.03.2021 – 31.03.2021, the FSC did not send notifications to the competent authorities of EU Member States about the intention of local insurance companies to operate on their territory. As of 31.03. 2021, the total number of insurance companies based in the Republic of Bulgaria which have stated their intention to carry out insurance activities on the territory of other EU Member States under the terms of freedom to provide services, remains 18.

 For the period 01.03.2021 – 31.03.2021 the FSC has not sent notifications to the competent supervisory authorities of the EU Member States about the intention of local insurance intermediaries to carry out insurance intermediation activities on their territory under the terms of freedom to provide services or the right of establishment. As of 31.03.2021, the total number of insurance intermediaries based in the Republic of Bulgaria which have declared their intention to carry out insurance intermediation activities on the territory of EU Member States, remains 52.

 The updated lists of notifications are available on the FSC website in the section “Supervised entities” – “Notifications”.

The lists of insurance companies and insurance intermediaries from EU Member States that have stated their intention to operate on the territory of the Republic of Bulgaria have been updated

For the period 01.04.2021 – 30.04.2021 the FSC has not received any notifications from competent national authorities of EU Member States regarding the intention of insurer companies based in their territory to operate on the territory of the Republic of Bulgaria under the terms of the freedom to provide services or right of establishment (through a branch). For the same period the FSC received 1 (one) notification regarding the withdrawal of intention of an insurer based in its territory to operate on the territory of the Republic of Bulgaria under the terms of the freedom to provide services.

During the period, the FSC received notifications from the competent EU supervisory authorities regarding the intention of 23 (twenty-three) insurance intermediaries based in EU Member States to carry out insurance intermediation activities on the territory of the Republic of Bulgaria under the terms of freedom to provide services, as well as 3 (three) notifications for termination of the activity of insurance mediation on the territory of the Republic of Bulgaria under the terms of the freedom to provide services.

As of 30.04.2021, the number of insurers based in other EU Member States which have notified the FSC of their intention to operate on the territory of the Republic of Bulgaria amounts to 427 (four hundred and twenty-seven). At the same date, the insurance intermediaries which intend to carry out insurance intermediation activities on the territory of the Republic of Bulgaria are 2,271 (two thousand two hundred and seventy-one).

During the period, the FSC sent 1 (one) notification to the competent supervisory authorities of an EU Member State regarding the intention of an insurer based in the Republic of Bulgaria to operate on their territory under the terms of freedom to provide services and 1 (one) notification of withdrawal of the intention of an insurer based in the Republic of Bulgaria to carry out insurance activity on the territory of another Member State.

As of the end of April, the total number of insurance companies based in the Republic of Bulgaria which have stated their intention to carry out insurance activities on the territory of other EU Member States under the terms of freedom to provide services, remains 18.

For the period 01.04.2021 – 30.04.2021 the FSC has sent 1 (one) notification to the competent national authority of an EU Member State regarding the intention of an insurance broker based in its territory to carry out insurance intermediation under the terms of the freedom to provide services. As of 30.04.2021, the total number of insurance intermediaries based in the Republic of Bulgaria which have declared their intention to carry out insurance intermediation activities on the territory of EU Member States, remains 52.

The updated lists of notifications are available on the FSC website in the section “Supervised entities” – “Notifications”.

The lists of insurance companies and insurance intermediaries from EU Member States that have stated their intention to operate on the territory of the Republic of Bulgaria have been updated

In December 2020, the FSC received notifications from the competent authorities of Member States regarding the performance (registration or termination of notification) of activities by insurance companies and insurance intermediaries for a total of 56 (fifty-six) companies based in other Member States of the EU, incl. notifications for extension of the scope of the performed activity or provision of information for the change of addresses and representatives and transfer of insurance portfolios.

For the period 01.12.2020 – 31.12.2020 the FSC received a notification from the supervisory competent authority of Iceland regarding the intention of an insurance company based in Iceland to operate in the territory of the Republic of Bulgaria under the terms of freedom to provide services , as well as 7 (seven) notifications regarding the withdrawal of notification in respect of insurers, established in EU Member States, which have declared their intention to operate on the territory of the Republic of Bulgaria under the terms of freedom to provide services.

As of the end of December 2020, the number of insurance companies based in other EU and EEA Member States which have notified the FSC of their intention to operate on the territory of the Republic of Bulgaria under the principle of freedom to provide services, amounts to 649 (six hundred and forty-nine).

In December, the FSC decided at its meeting held on 10.12.2020 to send a notification to the competent supervisory authority of the Republic of Austria, which provided information in connection with the notification received by the FSC about the conditions under which a branch of Porsche Versicherungs AG may carry out insurance activities on the territory of the Republic of Bulgaria, under Class 3 “Land vehicles (other than railway rolling stock)“ of Section II of Annex № 1 to the IC, under the terms of the right of establishment (through a branch).

In December 2020, the FSC received 29 (twenty-nine) notifications from the competent EU supervisory authorities regarding the intention of insurance intermediaries based in EU Member States to carry out insurance intermediation activities in the territory of the Republic of Bulgaria under the terms of freedom to provide services.

There are 6 (six) insurance intermediaries for which notifications has been received by the competent authorities of the EU Member States of their intention to suspend the activity of insurance intermediation on the territory of the Republic of Bulgaria under the terms of freedom to provide services or the right of establishment.

As of 31 December 2020, the insurance intermediaries from Member States that have stated their intention to carry out insurance intermediation activities on the territory of the Republic of Bulgaria under the terms of freedom to provide services or the right of establishment (through a branch) are 3,123 (three thousand one hundred and twenty and three).

In December 2020, the FSC sent 6 (six) notifications to the competent authorities of EU and EEA Member States about the intention of insurance companies based in the Republic of Bulgaria to operate on their territory, or to withdraw their intention.

The FSC has sent a notification to the competent supervisory authority of the United Kingdom regarding the intention of Euroins Insurance AD to operate on the territory of the UK under the terms of the right of establishment (through a branch).

At the same time, 5 (five) notifications were sent to the competent supervisory authority of the United Kingdom regarding the withdrawal of the intention of Bulstrad Vienna Insurance Group AD, Bulstrad Life Vienna Insurance Group EAD, Asset Insurance AD, DallBogg: Life and Health AD and BAEZ EAD to operate on the territory of the UK under the terms of freedom to provide services.

The total number of insurance companies based in the territory of the Republic of Bulgaria which have stated their intention to carry out insurance activities on the territory of other EU Member States under the terms of freedom to provide services, remains 18.

For the period 01.12.2020 – 31.12.2020, 1 (one) notification was sent to the competent supervisory authorities of Romania, Italy, Germany, France, Greece, Spain, the Netherlands, Malta, Croatia, Poland and Cyprus regarding the intention of insurance company broker Accord EOOD to carry out insurance intermediation activities on their territory under the terms of freedom to provide services.

At the end of the period, the total number of insurance intermediaries based in the Republic of Bulgaria which declared their intention to carry out insurance intermediation activities in the territory of EU Member States under the terms of freedom to provide services or the right of establishment, increased to 52 (fifty two) intermediaries.

The updated lists of notifications are available on the FSC website in the section “Supervised entities” – “Notifications”.

The lists of insurance companies and insurance intermediaries from EU Member States that have stated their intention to operate on the territory of the Republic of Bulgaria have been updated

 For the period 01.12.2021 – 28.02.2021 the FSC received 2 (two) notifications regarding the intention of insurance companies based in other Member States of the EU to operate in the territory of the Republic of Bulgaria under the terms of freedom to provide services , as well as 7 (seven) notifications regarding the withdrawal of intention of one insurer established in an EU Member State, to operate on the territory of the Republic of Bulgaria under the terms of freedom to provide services.

 During the same period, the FSC received 30 (thirty) notifications from the competent supervisory authorities regarding the intention of insurance intermediaries based in EU Member States to carry out insurance intermediation activities on the territory of the Republic of Bulgaria, as well as 16 (sixteen) notifications of the intention of insurance intermediaries based in EU Member States to suspend the activity of insurance intermediation on the territory of the country.

 As of 28.02.2021, the number of insurance companies based in other EU Member States which have notified the FSC of their intention to operate on the territory of the Republic of Bulgaria amounts to 427 (four hundred and twenty-seven). At the same date, the insurance intermediaries from Member States for which the FSC received a notification of intention to carry out insurance intermediation activities on the territory of the Republic of Bulgaria are 2,226 (two thousand two hundred and twenty-six).

 Given the expiry of the transitional period following the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the EU as of 1 January 2021, insurance companies and insurance intermediaries established in the United Kingdom shall be treated as insurers and insurance intermediaries established in a third country. As a result, insurance companies based in the UK are included in a separate list, in order to protect the public interest and given the fact that all insurance contracts concluded with such insurers before 31.12.2020 for risks located in the Republic Bulgaria, remain valid and can be serviced. The insurance companies based in the United Kingdom, for which the FSC received notifications before 31.12.2020 regarding their intention to operate in the country, are 222 (two hundred and twenty-two). The insurance intermediaries based in the United Kingdom, for which the FSC received a notification before 31.12.2020 for their intention to carry out insurance intermediation activities on the territory of the country, are 908 (nine hundred and eight). After 31.12.2020 the FSC did not receive any notification regarding the intention of an insurance intermediary based in the UK to establish a subsidiary or a new intermediary on the territory of the Republic of Bulgaria.

 For the period 01.01.2021 – 28.01.2021, the FSC did not send notifications to the competent authorities of EU Member States about the intention of local insurance companies to operate on their territory. During the same period, the FSC sent 1 (one) notification regarding the withdrawal of the intention of a local insurance company to operate in another Member State under the terms of freedom to provide services. As of 28.02.2021, the total number of insurance companies based in the Republic of Bulgaria which have stated their intention to carry out insurance activities on the territory of other EU Member States under the terms of freedom to provide services, remains 18.

 For the period 01.01.2021 – 28.02.2021 the FSC has not sent notifications to the competent supervisory authorities of the EU Member States about the intention of local insurance intermediaries to carry out insurance intermediation activities on their territory under the terms of freedom to provide services or the right of establishment. As of 28.02.2021, the total number of insurance intermediaries based in the Republic of Bulgaria which have declared their intention to carry out insurance intermediation activities on the territory of EU Member States, remains 52.

 The updated lists of notifications are available on the FSC website in the section “Supervised entities” – “Notifications”.

The leadership team of the FSC honored Insurer of the Year 2022

On May 17, at an official ceremony, the best insurance and pension insurance companies in Bulgaria for 2022 were awarded

The awards, which are organized by the Higher School of Insurance and Finance (VUZF), the Association of Bulgarian Insurers (ABI), the Bulgarian Association of Supplementary Pension Security Companies (BASPSC), the foundation „Prof. Veleslav Gavriyski“ and the Bulgarian Association of Insurance Brokers (BAIB), through an expert jury, for the 15th year in a row, determined the best companies from both sectors, according to publicly announced criteria.

Among the official guests of the prestigious event were – Mr. Rosen Zhelyazkov – Chair of the National Assembly, Mr. Lazar Lazarov – Deputy Prime Minister for Social Policies and Minister of Labor and Social Policy, Mr. Boyko Atanasov – Chair of the Financial Supervision Commission (FSC), the Deputy Chairs of the FSC – Ms. Diana Yordanova and Mr. Vladimir Savov, as well as the Chair of the National Social Security Institute (NSSI) – Mr. Ivaylo Ivanov, the Chair of the Economic and Social Council (ESC) – Ms. Zornitsa Rusinova, the Chair of the Bulgarian National Audit Office – Ms. Gorica Grancharova-Kozhareva, representatives of the insurance and pension insurance sector, business, finance and academia.

„It is not only a privilege but also a pleasure for me to attend the traditional award ceremony for those who have been honored in the insurance and social insurance sector. They give society security, stability and peace of mind, regardless of the difficult times we live in and play the role of a safety net of the social system. Thank you for the professionalism of the two sectors, doing everything possible for innovations and investments to enter in the market and be pillars of calm in this dynamic time“, said Mr. Boyko Atanasov, who presented the award in the category „Insurer of the Year – Life Insurance“ to „DZI–Life Insurance EAD.

Mr. Vladimir Savov, Deputy Chair of the FSC in charge of the Insurance Supervision Division, presented the „Insurer of the Year – Most Dynamically Developing Company“ and „Insurance Broker of the Year – Non-life Insurance“ awards. He shared that „dynamically developing companies are the ones that in the coming years will be among the recognized leaders in the respective sectors that create innovation, improve market competition, offer better solutions for their customers and ensure this dynamism in the insurance sector“.

„Insurer of the Year – Most Dynamically Developing Company“ for 2022 became the Bulgarian Export Insurance Agency (BAEZ), and „Insurance Broker of the Year – Non-life Insurance“ – „SDI Group“ OOD.

With the words „It is an extraordinary honor for me to present this prize for another year, which we know with what efforts and how much work is achieved. Despite the turbulence in the markets, the social insurance  sector has proven that it is sustainable, capital adequate, ready to meet any challenge“, Ms. Diana Yordanova, Deputy Chair of the FSC in charge of the Social Insurance Supervision Division, presented the award in the category „Pension insurance company of the year“, for the activity of supplementary compulsory retirement insurance. PIC „Doverie“ JSC became the winner in the category for 2022.

More about the winners of the 15th edition of the annual awards in the insurance sector – „Insurer of the Year“, „Pension Insurance Company of the Year“, „Insurance Broker of the Year“ for 2022 could be find here.

Gallery:

Boyko Atanasov
Бойко Атанасов връчва „Застраховател на годината – животозастраховане“ на „ДЗИ – Животозастраховане“ ЕАД
Diana Yordanova
Диана Йорданова връчва „Пенсионноосигурително дружество на годината“ на ПОК „Доверие“ АД
Vladimir Savov
Владимир Савов връчва „Най-динамично развиващо се дружество“ на БАЕЗ
Vladimir Savov 2
Владимир Савов връчва „Застрахователен брокер на годината – общо застраховане“ на „Ес Ди Ай Груп“ ООД


Обща снимка edited

The FSC warns the public for unlicensed participants on the capital market

The Financial Supervision Commission (FSC) warns potential investors for companies, which are not entitled to conduct activity as investment intermediaries or management companies on the territory of the Republic of Bulgaria. The FSC regularly conducts inspections of companies for which there are suspicions and information for conduct of investment activities and provision of investment services without the necessary license, as well as inspections of the natural and legal persons related to them. The on-site inspections of the unlicensed participants on the capital market are realized jointly by inspection teams of the FSC, Chief Directorate “National Police” to the Ministry of Internal Affairs and State Agency “National Security” (SANS). In order to protect the rights of customers of financial services and to prevent frauds when investing in financial instruments, the financial regulator actively cooperates with the supervisory authorities of other countries.
 
A List of the companies, which are not licensed by the FSC is maintained and regularly updated on the website of the FSC and is available on the following internet address:
http://www.fsc.bg/bg/novini/spisak-na-druzhestva-koito-ne-sa-litsenzirani-ot-kfn-i-nyamat-pravo-da-izvarshvat-deynost-kato-investitsionen-posrednik-ili-upravlyavashto-druzhestvo-na-teritoriyata-na-republika-balgariya-8122.html
 
In order to protect their interest, the consumers who would like to invest in financial instruments and funds through the conclusion of transactions or through trust management, should first check whether the relevant company is licensed by the FSC and is entitled to provide the relevant service to clients under the issued license.
 
The following companies are not licensed by the FSC and are not entitled to conduct activity as an investment intermediary or management company on the territory of the Republic of Bulgaria:

1. FINANSOV CONSULT LLC ( former name TELETRADE SOFIA LLC);
2. BROKERAGE – HRISTO IVANOV SOJSC;
3. 24 TRADE SOJSC (former name EXUS MARKETS SOJSC);
4. DEALERWEB LLC;
5. INVESTORS SOJSC (former name ASTON MARKETS SOJSC);
6. TRADERXP (TRADERXP LLC);
7. TELETRADE BULGARIA SOJSC, SOFIA;
8. HOTFOREX, MAURITIUS;
9. CITYCAPITAL LLC, SOFIA;
10. BULGARIAN TRADING GROUP, SOFIA;
11. KFM CAPITAL INVESTMENTS SOJSC, SOFIA;
12. INSTA SOFIA LLC;
13. ISLANDBAY SERVICES LLC., trade name BROKER CAPITAL;
14. BROKERS STAR LLC;
15. BELFOR CAPITAL LLC, SOFIA;
16. FX GLORY LLC, PLOVDIV;
17. B.M. INVESTMENTS SOJSC;
18. TRADEPLUS SOLUTIONS LLC., MARSHALL ISLANDS;
19. TVOY MILLION;
20. PLUSOPTION;
21. INTERACTIVE COMPANY SOJSC;
22. ALPHA BROKING SOJSC;
23. TIGER ASSET MANAGEMENT SOJSC;
24. NEW CAPITAL TRUST SOJSC;
25. ATLANTIC CAPITAL SOJSC;
26. ERIDA ASSET MANAGEMENT SOJSC;
27. ROYAL CAPITAL MANAGEMENT SOJSC;
28. PROMETEOS ASSET MANAGEMENT SOJSC;
29. RIGYFIELD CAPITAL MANAGEMENT SOJSC;
30.TIGER ASSET MANAGEMENT LLC, AUSTRIA;
31. NEMESIS CAPITAL BG SOJSC;
32. PROSPER GESIT SOJSC;
33. GDMFX EUROPE SOJSC.
 
Investors should mind that when concluding contracts for the provision of investment services and when submitting orders for the conclusion of transactions with financial instruments, including providing funds or financial instruments for trust management, with companies which are not licensed by the FSC or by the competent authority of another Member State, they could be deceived and suffer significant financial losses.
 
The provided financial instruments and funds by the investors in companies which are not licensed, and respectively are not monitored by the FSC, are not guaranteed by the Investor Compensation Fund. 

Companies, which are licensed as investment intermediaries in countries outside the EU are not allowed to provide investment services on the territory of the Republic of Bulgaria without an authorization issued by the FSC and without being included in the register kept by the FSC.

A list of the investment intermediaries and the management companies licensed by the FSC is available on the website of the FSC ( www.fsc.bg ) in section “Electronic register (ERiK)” at the following address: http://212.122.187.59/public/index.php?lang=bg and http://www.fsc.bg/en/markets/capital-market/lists-of-supervised-entities/investment-intermediaries/

A list of the investment intermediaries from Member States which are allowed to provide investment services and to conduct investment activities on the territory of the Republic of Bulgaria is available on the website of the FSC on the following address:
http://www.fsc.bg/bg/podnadzorni-litsa/notifikatsii/notifikatsii-polucheni-v-kfn/
 
You might submit signals and complaints connected with the activity of the licensed investment intermediaries, as well as with data and suspicions regarding companies, which conduct investment intermediation without the necessary license to the following address of the Financial Supervision Commission – Sofia, 16 Budapeshta Str. or at e-mail address: delovodstvo@fsc.bg
 
Sofia, June 16, 2016 

The FSC warns the public for unlicensed participants on the capital market

The Financial Supervision Commission (FSC) warns potential investors for companies, which are not entitled to conduct activity as investment intermediaries or management companies on the territory of the Republic of Bulgaria. The FSC regularly conducts inspections of companies for which there are suspicions and information for conduct of investment activities and provision of investment services without the necessary license, as well as inspections of the natural and legal persons related to them. The on-site inspections of the unlicensed participants on the capital market are realized jointly by inspection teams of the FSC, Chief Directorate “National Police” to the Ministry of Internal Affairs and State Agency “National Security” (SANS). In order to protect the rights of customers of financial services and to prevent frauds when investing in financial instruments, the financial regulator actively cooperates with the supervisory authorities of other countries.
 
A List of the companies, which are not licensed by the FSC is maintained and regularly updated on the website of the FSC and is available on the following internet address:
http://www.fsc.bg/bg/novini/spisak-na-druzhestva-koito-ne-sa-litsenzirani-ot-kfn-i-nyamat-pravo-da-izvarshvat-deynost-kato-investitsionen-posrednik-ili-upravlyavashto-druzhestvo-na-teritoriyata-na-republika-balgariya-8122.html
 
In order to protect their interest, the consumers who would like to invest in financial instruments and funds through the conclusion of transactions or through trust management, should first check whether the relevant company is licensed by the FSC and is entitled to provide the relevant service to clients under the issued license.
 
The following companies are not licensed by the FSC and are not entitled to conduct activity as an investment intermediary or management company on the territory of the Republic of Bulgaria:

1. FINANSOV CONSULT LLC ( former name TELETRADE SOFIA LLC);
2. BROKERAGE – HRISTO IVANOV SOJSC;
3. 24 TRADE SOJSC (former name EXUS MARKETS SOJSC);
4. DEALERWEB LLC;
5. INVESTORS SOJSC (former name ASTON MARKETS SOJSC);
6. TRADERXP (TRADERXP LLC);
7. TELETRADE BULGARIA SOJSC, SOFIA;
8. INSTAFOREX, RUSSIA;
9. HOTFOREX, MAURITIUS;
10. CITYCAPITAL LLC, SOFIA;
11. BULGARIAN TRADING GROUP, SOFIA;
12. KFM CAPITAL INVESTMENTS SOJSC, SOFIA;
13. INSTA SOFIA LLC;
14. ISLANDBAY SERVICES LLC., trade name BROKER CAPITAL;
15. BROKERS STAR LLC;
16. BELFOR CAPITAL LLC, SOFIA;
17. FX GLORY LLC, PLOVDIV;
18. B.M. INVESTMENTS SOJSC;
19. TRADEPLUS SOLUTIONS LLC., MARSHALL ISLANDS;
20. TVOY MILLION;
21. PLUSOPTION;
22. INTERACTIVE COMPANY SOJSC;
23. ALPHA BROKING SOJSC;
24. TIGER ASSET MANAGEMENT SOJSC;
25. NEW CAPITAL TRUST SOJSC;
26. ATLANTIC CAPITAL SOJSC;
27. ERIDA ASSET MANAGEMENT SOJSC;
28. ROYAL CAPITAL MANAGEMENT SOJSC;
29. PROMETEOS ASSET MANAGEMENT SOJSC;
30. RIGYFIELD CAPITAL MANAGEMENT SOJSC;
31.TIGER ASSET MANAGEMENT LLC, AUSTRIA;
32. NEMESIS CAPITAL BG SOJSC;
33. PROSPER GESIT SOJSC;
34. GDMFX EUROPE SOJSC.
 
Investors should mind that when concluding contracts for the provision of investment services and when submitting orders for the conclusion of transactions with financial instruments, including providing funds or financial instruments for trust management, with companies which are not licensed by the FSC or by the competent authority of another Member State, they could be deceived and suffer significant financial losses.
 
The provided financial instruments and funds by the investors in companies which are not licensed, and respectively are not monitored by the FSC, are not guaranteed by the Investor Compensation Fund. 

Companies, which are licensed as investment intermediaries in countries outside the EU are not allowed to provide investment services on the territory of the Republic of Bulgaria without an authorization issued by the FSC and without being included in the register kept by the FSC.

A list of the investment intermediaries and the management companies licensed by the FSC is available on the website of the FSC ( www.fsc.bg ) in section “Electronic register (ERiK)” at the following address: http://212.122.187.59/public/index.php?lang=bg and http://www.fsc.bg/en/markets/capital-market/lists-of-supervised-entities/investment-intermediaries/

A list of the investment intermediaries from Member States which are allowed to provide investment services and to conduct investment activities on the territory of the Republic of Bulgaria is available on the website of the FSC on the following address:
http://www.fsc.bg/bg/podnadzorni-litsa/notifikatsii/notifikatsii-polucheni-v-kfn/
 
You might submit signals and complaints connected with the activity of the licensed investment intermediaries, as well as with data and suspicions regarding companies, which conduct investment intermediation without the necessary license to the following address of the Financial Supervision Commission – Sofia, 16 Budapeshta Str. or at e-mail address: delovodstvo@fsc.bg
 
Sofia, June 16, 2016