The Financial Supervision Commission (FSC) notifies of the transfer of life insurance business of Tunbridge Wells Equitable Friendly Society Ltd (transferring insurer) to Forester Life Ltd (transferee)

The Financial Supervision Commission notifies all concerned parties that on 12 April 2013 the competent authority of United Kingdom (Prudential Regulation Authority) has informed that the transfer of life insurance business of Tunbridge Wells Equitable Friendly Society Ltd (transferring insurer) to Forester Life Ltd (transferee) was confirmed by the PRA on 3 April 2013 and took effect on the same date.

FSC has not been notified of the intention of the transferee to operate on the territory of the Republic of Bulgaria under the right of establishment or the freedom to provide services.

The Financial Supervision Commission (FSC) notifies of the portfolio transfer of life insurance business from B and CE Insurance Limited to Partnership Life Assurance Company Limited

The Financial Supervision Commission (FSC) notifies all concerned parties that on 31st October, 2013 the competent authority of the United Kingdom (Prudential Regulation Authority) has informed about the approval of portfolio transfer of life insurance business from B&C E Insurance Limited to Partnership Life Assurance Company Limited. The approval of the High Court took effect on 31st October, 2013.

Оn 6th June, 2013, the FSC notified all concerned parties about the intention of B&C E Insurance Limited to transfer its life insurance business to Partnership Life Assurance Company Limited.

FSC has not been notified on the intention of the transferee to operate on the territory of the Republic of Bulgaria under the right of establishment or the freedom to provide services.

The European Securities and Markets Authority (ESMA) launches a Common Supervisory Action with national competent authorities

ESMA launches Common Supervisory Action with national competent authorities on the supervision of the costs and fees of Undertakings for the Collective Investment in Transferable Securities (UCITS) throughout the European Union

The joint supervisory action will take place in 2021. The purpose of this action is to establish whether the rules and legal framework regarding the obligation for investors not to be charged illegitimate costs are being complied with. Supervision of costs and fees is a key factor in ensuring investor confidence in the financial markets.

The full ESMA communication can be found at: ESMA launches a Common Supervisory Action with NCAs on the supervision of costs and fees of UCITS (europa.eu)

The European Securities and Markets Authority (ESMA) Has Agreed to Prohibit Binary Options and Restrict Contracts for DIfferences (CFDs) to Protect Retail Investors

At its meeting held in Sofia on March 22 and 23, 2018, the Boards of Supervisors of the European Securities and Markets Authority (ESMA) approved decision to prohibit binary options and restrict CFDs. The purpose of such measures is the protection of retail investors.
Full text of ESMA press release is available on Home/ European affairs/ EU Information.
Answers to frequently asked questions can be found at Home/ European affair/ EU Legislation/ Questions & Answers.
ESMA will continue to monitor financial instruments based on cryptocurrencies and will assess the need for stricter measures.

THE EUROPEAN SECURITIES AND MARKETS AUTHORITY (ESMA) HAS AGREED TO PROHIBIT BINARY OPTIONS AND RESTRICT CONTRACTS FOR DIFFERENCES (CFDs) TO PROTECT RETAIL INVESTORS

At its meeting held in Sofia on March 22 and 23, 2018, the Boards of Supervisors of the European Securities and Markets Authority (ESMA) approved decision to prohibit binary options and restrict CFDs. The purpose of such measures is the protection of retail investors.
Full text of ESMA press release is available on Home/ European affairs/ EU Information.
Answers to frequently asked questions can be found at Home/ European affair/ EU Legislation/ Questions & Answers.
ESMA will continue to monitor financial instruments based on cryptocurrencies and will assess the need for stricter measures.

The European Insurance and Occupational Pensions Authority (EIOPA) is examining the attitudes of potential suppliers towards the supply of savings products

The European Insurance and Occupational Pensions Authority (EIOPA) is conducting a survey on the attitudes of potential European suppliers towards the supply of savings products. The aim is to collect the maximum amount of data and information available on the Pan-European Personal Pension Product (PEPP).

Regulation (EU) 2019/1238 on a pan-European personal pension product (PERP Regulation) was adopted in July 2019 and has been effective since August 2020. The publication in the Official Journal of the EU on 22.03.2021 of a Delegated Regulation (EU) 2021/473 to supplement the PEPP Regulation also sets a date of 22.03.2022 from which it will apply. With this decision, the European Commission provides an opportunity for EU citizens to save for their future retirement through a safe, transparent and high-quality pension product.

The link where the survey can be found is:

https://ec.europa.eu/eusurvey/runner/PEPP_survey, the latter being active until 31 May 2021.

The European Insurance and Occupational Pensions Authority (EIOPA) explores the attitudes of potential providers concerning the saving products offering


The European Insurance and Occupational Pensions Authority (EIOPA) conducts a research into the attitudes of potential providers offering saving products on European level. The purpose of this survey is to collect maximum data volume and information about the offering of the pan- European Personal Pension Product (PEPP).
Regulation (EU) 2019/1238 of the European Parliament and of the Council of 20 June 2019 on a pan-European Personal Pension Product (PEPP) was adopted in July 2019 and entered into force in August 2020.
On the 22 of March 2021 the Commission Delegated Regulation (EU) 2021/473, supplementing the PEPP Regulation, was published in the Official Journal of the European Union, setting the date for its entry into force on 22.03.2022. Based on its decision, the European Commission provides an opportunity for the EU citizens to save for their future retirement by means of a safe, transparent and high-quality pension product.
The survey is available at the following link: https://ec.europa.eu/eusurvey/runner/PEPP_survey  
The latter will be active until 31 of May 2021.

The European Insurance and Occupational Pensions Authority (EIOPA) explores the attitudes of potential providers concerning the saving products offering


The European Insurance and Occupational Pensions Authority (EIOPA) conducts a research into the attitudes of potential providers offering saving products on European level. The purpose of this survey is to collect maximum data volume and information about the offering of the pan- European Personal Pension Product (PEPP).
Regulation (EU) 2019/1238 of the European Parliament and of the Council of 20 June 2019 on a pan-European Personal Pension Product (PEPP) was adopted in July 2019 and entered into force in August 2020.
On the 22 of March 2021 the Commission Delegated Regulation (EU) 2021/473, supplementing the PEPP Regulation, was published in the Official Journal of the European Union, setting the date for its entry into force on 22.03.2022. Based on its decision, the European Commission provides an opportunity for the EU citizens to save for their future retirement by means of a safe, transparent and high-quality pension product.
The survey is available at the following link: https://ec.europa.eu/eusurvey/runner/PEPP_survey  
The latter will be active until 31 of May 2021.

The European Commission published a list of the credit rating agencies in the Official Journal of the European Union and on its web page

Pursuant to Regulation (EC) № 1060/2009 of 16 September, 2009 on credit rating agencies (CRA Regulation), the credit rating agencies are legal persons whose occupation includes the issuing of credit rating on a professional basis. The credit rating agencies established in the Union must file an application for registration according to Article 14, paragraph 1, in relation to Article 2, paragraph 1
of the CRA Regulation. The competent authorities of the home Member State approve the registration when all requirements stated in the CRA Regulation have been satisfied. The registration is valid for the whole territory of the Union. In consistence with Article 18, paragraph 3 of the CRA Regulation, the Commission published in Official Journal of the European Union and on its web page a list of the registered credit rating agencies. This list is updated within 30 days after the date the Commission is notified of registration made by a competent authority of a home Member State.
The registration according to the CRA Regulation does not mean automatic recognition as an external credit rating agency (ECRA) in accordance with Part 2 of Annex VI
to Directive 2006/48/EC.

You can find the list of the agencies on the following address:

http://ec.europa.eu/internal_market/securities/docs/agencies/list_bg.pdf

The documentation for the Public Procurement for the organization and carrying out of stress tests of the Bulgarian insurers and reinsurers is published on the website of the FSC

The Financial Supervision Commission (FSC) published on its website the documentation for the open public procurement award procedure with subject: Organization and Carrying Out of Stress Tests of the Insurers and Reinsurers in the Republic of Bulgaria. The necessary documents for the participation in the procedure for selection of an independent external reviewer to realize the organization and carrying out of the stress tests for the insurers and reinsurers on the Bulgarian market are available at the following link.

 
The documentation is also available on the English version of the website.

 
The organization and carrying out of the stress tests of the insurers and reinsurers is conducted in accordance with para 10, item 4 of the Transitional and Final Provisions of the Law on Recovery and Resolution of Credit Institutions and Investment Firms.
 
Tenders should be submitted in Bulgarian. It is recommended that the documents presented together with the tender, except for the price offer, are accompanied with a translation in English.
 
The tender should be presented by the tenderer or by a representative authorized by him – in person or by postal or other courier service, by registered mail with return receipt at the following address: Sofia, 16 Budapeshta Str.
 
The deadline for tender submission is September 21, 2016.