Regulatory Alerts2016-10-20
Ordinance No 19 of the BNB on Credit Intermediaries
The Bulgarian National Bank issues this Ordinance to establish the procedures for registering, notifying, and deleting credit intermediaries from the official Register under the Law on Consumer Real Estate Loans. It mandates specific documentation, professional indemnity insurance, and fee payments for initial registration and subsequent changes, while requiring semi-annual reporting to ensure ongoing compliance. The regulation also outlines the BNB's authority to refuse or delete registrations based on legal grounds and sets administrative fees for processing these applications.
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