Regulatory Alerts2018-01-04
Ordinance No. 56 of 04.01.2018 on the Minimum Content of Investment Policies of Additional Pension Funds
The Financial Supervision Commission issued Ordinance No. 56 to mandate the minimum content of investment policies for additional mandatory and voluntary pension funds in Bulgaria. The regulation requires these policies to explicitly define governance structures, liquidity needs, ESG factor integration, and specific asset allocation strategies including sub-funds under Article 214a of the Social Security Code. It further stipulates detailed requirements for risk identification, hedging procedures, and periodic review mechanisms to ensure robust investment management.
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