Regulatory Alerts2022-07-12
Ordinance No. 72 of 12.07.2022 on Information and Documents Proving Compliance with Requirements for Temporary and Extraordinary Managers of Investment Intermediaries and Conditions for Selecting Independent Valuers
The Financial Supervision Commission issued Ordinance No. 72 to establish the specific information and documentation required to prove that candidates meet the integrity, reputation, and professional qualification standards for appointment as temporary or extraordinary managers of investment intermediaries. The regulation further defines the selection procedure, eligibility criteria, and contractual terms for independent valuers tasked with assessing restructuring plans under the Law on Recovery and Resolution of Credit Institutions and Investment Intermediaries. It mandates that all applications be submitted in Bulgarian with certified translations and establishes a non-public registry of interested parties to facilitate the Commission's oversight of financial sector governance.