Regulatory Alerts2009-04-23
Ordinance No. 26 of the BNB on Financial Institutions
The Bulgarian National Bank issued this Ordinance to establish the registration procedure, capital requirements, and management standards for financial institutions under Article 3a of the Law on Credit Institutions. It mandates a minimum paid-in capital of BGN 1,000,000 and imposes strict qualification, integrity, and financial stability criteria on managers, qualifying shareholders, and actual owners. The regulation further details the documentation required for entry into the BNB register, grounds for refusal or deletion, and obligations for ongoing reporting and notification of changes.
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