Regulatory Alerts2020-09-03
Regulation No. 8 of 03.09.2020 on Requirements for the Activity of Central Securities Depositories, the Central Securities Register, and Other Persons Carrying Out Activities Related to the Settlement of Securities
The Financial Supervision Commission issued Regulation No. 8 to establish detailed operational, risk management, and record-keeping requirements for central securities depositories and the central securities register in Bulgaria. The regulation mandates specific procedures for the registration and deregistration of financial instrument issues, the maintenance of accurate shareholder and investor registers, and the settlement of transactions in compliance with EU Regulation 909/2014. It further defines the liability of depositories for data accuracy, the issuance of ISIN codes, and the governance of settlement systems to ensure market integrity and investor protection.
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