Regulatory Alerts2024-01-25
Ordinance on Requirements for Central Securities Depositories and Related Settlement Activities
The Financial Supervision Commission of Bulgaria issued Ordinance No. 8 to establish additional regulatory requirements for central securities depositories, the central securities register, and other entities involved in securities settlement. The regulation mandates specific operational standards, including the maintenance of electronic databases, precise data recording for issuers and holders, and strict procedures for the registration and deregistration of financial instrument issues. It further defines risk management protocols, default procedures, and the legal responsibilities of depositories regarding the accuracy of their registers and the finality of settlements.
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