Regulatory Alerts2020-05-21
Decree No. 38 of 21.05.2020 on Requirements for the Activity of Investment Intermediaries
The Financial Supervision Commission issued Decree No. 38 to establish detailed requirements for the governance, suitability assessments, and internal organization of investment intermediaries and related financial holding companies in Bulgaria. The regulation mandates rigorous initial and periodic evaluations of the individual and collective fitness of management and supervisory board members, incorporating checks for reputation, integrity, and anti-money laundering compliance. It further specifies operational obligations for compliance units, risk management, and the handling of structured deposits and securities financing transactions to ensure market transparency and client protection.
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