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2004-05-05

Decree No. 15 of 05.05.2004 on the Maintenance and Storage of Registers by the Commission for Financial Supervision and Matters Subject to Registration

The Commission for Financial Supervision issues Decree No. 15 to establish the procedures for maintaining and storing its official registers and defining the specific circumstances subject to registration. The decree mandates that the Commission maintain electronic databases and physical card indexes for a wide range of financial entities, including regulated markets, investment intermediaries, insurance companies, and alternative investment fund managers. It further details the mandatory information to be recorded for each entity, such as identification codes, governance structures, and regulatory sanctions, while ensuring public access to this data through electronic means.

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DECREE NO. 15 of 05.05.2004 on the maintenance and storage of registers by the Commission for Financial Supervision and on the circumstances subject to registration

Pub. - State Gazette, No. 54 of 23.06.2004; in force from 01.10.2004; amended, No. 15 of 15.02.2005; in force from 01.01.2005; amended and supplemented, No. 12 of 07.02.2006; No. 53 of 30.06.2006; amended and supplemented, No. 22 of 13.03.2007; amended and supplemented, No. 63 of 15.07.2008; amended and supplemented, No. 68 of 01.08.2008; amended and supplemented, No. 13 of 17.02.2009; amended, No. 49 of 29.06.2010, in force 31.08.2010; amended and supplemented, No. 68 of 15.08.2014, in force from 01.11.2014; amended, No. 90 of 31.10.2014, in force from 31.10.2014; amended and supplemented, No. 95 of 28.11.2017, in force from 28.11.2017; amended and supplemented, No. 101 of 07.12.2018; supplemented, No. 41 of 21.05.2019; amended and supplemented, No. 55 of 12.07.2019; amended and supplemented, No. 30 of 31.03.2020; amended and supplemented, No. 61 of 10.07.2020; amended and supplemented, No. 48 of 08.06.2021; amended and supplemented, No. 60 of 20.07.2021; amended and supplemented, No. 97 of 19.11.2021, in force from 01.01.2022; amended and supplemented, No. 47 of 24.06.2022; amended and supplemented, No. 101 of 20.12.2022, in force from 01.01.2023; amended and supplemented, No. 70 of 20.08.2024; amended and supplemented, No. 109 of 16.12.2025, in force from 16.12.2025.

Adopted by Decision No. 21-N of 05.05.2004 of the Commission for Financial Supervision

Chapter One GENERAL PROVISIONS

Art. 1. This Decree determines the procedure for the maintenance and storage of the registers under Art. 30, para. 1 of the Law on the Commission for Financial Supervision (LCFS) by the Commission for Financial Supervision, hereinafter referred to as "the Commission", as well as the circumstances subject to registration.

Art. 2. (Amended and supplemented - SG, No. 22 of 2007; amended, No. 63 of 2008; amended and supplemented, No. 68 of 2014, in force from 01.11.2014; amendment entering into force on 01.01.2015 - SG, No. 90 of 2014, in force from 31.10.2014; supplemented, No. 95 of 2017, in force from 28.11.2017; amended and supplemented, No. 101 of 2018; amended, No. 55 of 2019; amended and supplemented, No. 30 of 2020; supplemented, No. 61 of 2020; amended, No. 47 of 2022; supplemented, No. 109 of 2025, in force from 16.12.2025.) The Commission maintains registers for:

  1. (amended - SG, No. 63 of 2008; supplemented, No. 68 of 2014, in force from 01.11.2014; amendment entering into force on 01.01.2015 - SG, No. 90 of 2014, in force from 31.10.2014; supplemented, No. 95 of 2017, in force from 28.11.2017; amended and supplemented, No. 101 of 2018; amended, No. 30 of 2020.) regulated markets for financial instruments, multilateral trading facilities, organized trading facilities and growth markets;
  2. investment intermediaries;
  3. public companies and other issuers of securities;
  4. (amended - SG, No. 68 of 2014, in force from 01.11.2014; amendment entering into force on 01.01.2015 - SG, No. 90 of 2014, in force from 31.10.2014.) collective investment schemes;
  5. (supplemented - SG, No. 12 of 2006; amended, No. 68 of 2014, in force from 01.11.2014; amendment entering into force on 01.01.2015 - SG, No. 90 of 2014, in force from 31.10.2014.) management companies;
  6. (new - SG, No. 68 of 2014, in force from 01.11.2014; amendment entering into force on 01.01.2015 - SG, No. 90 of 2014, in force from 31.10.2014.) national investment funds;
  7. (new - SG, No. 68 of 2014, in force from 01.11.2014; amendment entering into force on 01.01.2015 - SG, No. 90 of 2014, in force from 31.10.2014; supplemented, No. 101 of 2018; amended, No. 30 of 2020.) persons managing alternative investment funds and the alternative investment funds managed by them, including venture capital funds, social entrepreneurship funds or long-term investment funds;
  8. (new - SG, No. 101 of 2018.) tied agents;
  9. (new - SG, No. 101 of 2018; amended, No. 47 of 2022.) approved reporting mechanisms and approved publication mechanisms under Art. 1, item 3 of the Law on Markets in Financial Instruments (LMFI);
  10. (new - SG, No. 101 of 2018.) benchmark administrators licensed or registered by the Commission in accordance with Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks for the purposes of financial instruments and financial contracts or for measuring the performance of investment funds, and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014 (OJ, L 171/1 of 29 June 2016) (Regulation (EU) 2016/1011);
  11. (repealed, replaced by previous item 6, amended - SG, No. 68 of 2014, in force from 01.11.2014; amendment entering into force on 01.01.2015 - SG, No. 90 of 2014, in force from 31.10.2014; previous item 8, No. 101 of 2018; amended, No. 30 of 2020.) brokers of financial instruments and investment consultants;
  12. (supplemented - SG, No. 53 of 2006; previous item 7, No. 68 of 2014, in force from 01.11.2014; amendment entering into force on 01.01.2015 - SG, No. 90 of 2014, in force from 31.10.2014; previous item 9, No. 101 of 2018.) insurers and reinsurers;
  13. (new - SG, No. 95 of 2017, in force from 01.03.2018; previous item 10, No. 101 of 2018.) special purpose vehicles for the alternative transfer of insurance risk;
  14. (new - SG, No. 109 of 2025, in force from 16.12.2025.) organizations conducting professional training for employees of insurance brokers;
  15. (supplemented - SG, No. 53 of 2006; previous item 9, No. 68 of 2014, in force from 01.11.2014; amendment entering into force on 01.01.2015 - SG, No. 90 of 2014, in force from 31.10.2014; previous item 10, No. 95 of 2017, in force from 01.03.2018; previous item 11, No. 101 of 2018; amended, No. 55 of 2019; previous item 14, No. 109 of 2025, in force from 16.12.2025.) insurance brokers, insurance agents and intermediaries offering insurance products as an additional activity;
  16. (new - SG, No. 22 of 2007; repealed, replaced by previous item 10, as amended in No. 68 of 2014, in force from 01.11.2014; amendment entering into force on 01.01.2015 - SG, No. 90 of 2014, in force from 31.10.2014; previous item 11, No. 95 of 2017, in force from 01.03.2018; previous item 12, No. 101 of 2018; previous item 15, No. 109 of 2025, in force from 16.12.2025.) supplementary pension insurance companies, the funds managed by them and occupational schemes;
  17. (previous item 11, amended, No. 22 of 2007; previous item 12, No. 95 of 2017, in force from 01.03.2018; previous item 13, No. 101 of 2018; previous item 16, No. 109 of 2025, in force from 16.12.2025.) insurance intermediaries for supplementary pension insurance companies;
  18. (new - SG, No. 53 of 2006; previous item 12, amended, No. 22 of 2007; previous item 13, No. 95 of 2017, in force from 01.03.2018; previous item 14, No. 101 of 2018; previous item 17, No. 109 of 2025, in force from 16.12.2025.) persons with recognized professional qualification as a responsible actuary.
  19. (new - SG, No. 61 of 2020; previous item 18, No. 109 of 2025, in force from 16.12.2025.) authorized advisors.

Art. 3. (Amended - SG, No. 68 of 2014, in force from 01.11.2014.) (1) The registers are based on a unified electronic database and a card index of registered persons. (2) (Amended - SG, No. 68 of 2014, in force from 01.11.2014.) Only information regarding the circumstances and changes therein, determined by this Decree or another normative act, is subject to registration in the registers. (3) (Amended - SG, No. 68 of 2014, in force from 01.11.2014.) Entries in the registers provide publicity to the information contained therein.

Chapter Two MAINTENANCE OF REGISTERS

Art. 4. (Amended and supplemented - SG, No. 68 of 2014, in force from 01.11.2014; amended, No. 95 of 2017, in force from 28.11.2017; amended and supplemented, No. 101 of 2018; supplemented, No. 55 of 2019.) (1) (Supplemented - SG, No. 68 of 2014, in force from 01.11.2014; amended, No. 101 of 2018.) The registration procedure begins upon application by a person under Art. 2, their authorized or legal representative, or on the initiative of the Commission, respectively the vice-chairmen heading the three main directorates of the Commission, hereinafter referred to as "the Vice-Chairmen of the Commission", unless a normative act provides for another procedure. (2) (Supplemented - SG, No. 68 of 2014, in force from 01.11.2014; amended, No. 101 of 2018.) Persons under Art. 2 are obliged to apply for registration in the Commission's registers of information regarding the circumstances subject to registration in the registers under Art. 2, determined in the Decree or in another normative act, and changes thereto. (3) (Amended - SG, No. 68 of 2014, in force from 01.11.2014; amended, No. 95 of 2017, in force from 28.11.2017; supplemented, No. 55 of 2019.) The obligation under para. 2 is fulfilled no later than 7 days from the adoption of the decision, respectively from the occurrence or knowledge of the circumstance subject to registration, and when it is subject to registration in the Commercial Register and the Register of Legal Entities with Non-Profit Purpose - no later than 7 days from such registration, unless a normative act provides for another term. (4) (New - SG, No. 68 of 2014, in force from 01.11.2014; amended, No. 101 of 2018.) The Commission for Financial Supervision determines the registrations under this Decree, which are carried out entirely electronically in compliance with the Law on Electronic Document and Electronic Authentication Services.

Art. 5. (Supplemented - SG, No. 63 of 2008; amended and supplemented, No. 68 of 2014, in force from 01.11.2014; amended and supplemented, No. 101 of 2018; amended, No. 30 of 2020.) (1) (Supplemented - SG, No. 63 of 2008; amended, No. 101 of 2018; amended, No. 30 of 2020.) Entries in the registers are made by order of the respective member of the Commission or duly authorized employees, unless a normative act provides for another procedure. (2) Orders for registration are issued based on documents containing the information subject to registration, submitted by the applicants or collected ex officio or issued by the Commission and its bodies. (3) (Amended - SG, No. 101 of 2018.) When the application is submitted on paper, documents in original or copies certified as "True to original" by the person signing the application are presented to the Commission, unless a normative act requires another certification. Upon request, the originals of the documents are also provided. (4) (Amended - SG, No. 68 of 2014, in force from 01.11.2014; amended, No. 101 of 2018.) The Commission, respectively the Vice-Chairmen of the Commission, may approve mandatory paper forms and electronic registration forms, in which applicants fill in the information subject to registration in the specified format and format. (5) (Amended - SG, No. 101 of 2018.) The electronic registration forms under para. 4 are electronic documents within the meaning of Art. 3, para. 1 of the Law on Electronic Document and Electronic Authentication Services, prepared in accordance with the standards, procedures and rules under Art. 6, para. 8. (6) (New - SG, No. 68 of 2014, in force from 01.11.2014; supplemented, No. 101 of 2018.) When the application is submitted electronically, the application is signed with a qualified electronic signature. If necessary, the Commission or its bodies may require that received electronic documents be presented to it on paper as well. (7) (New - SG, No. 101 of 2018.) Certified copies of the documents subject to announcement in the register under Art. 2, in which personal data other than those required by law are deleted, are also submitted with the application.

Art. 6. (Amended - SG, No. 68 of 2014, in force from 01.11.2014; amended and supplemented, No. 101 of 2018; amended, No. 30 of 2020.) (1) For each person subject to registration, the entries provided for by the Decree are made in the electronic database. (2) (Amended - SG, No. 30 of 2020.) For each record in the electronic database under para. 1, the date, type of entry and the names of the official who made the entry are noted. (3) (Amended - SG, No. 101 of 2018; amended, No. 30 of 2020.) Subsequent entries in the electronic database of the registers under Art. 2 are made such that the information contained in previous entries is updated with the newly received information. (4) (Repealed - SG, No. 101 of 2018). (5) (Amended - SG, No. 101 of 2018.) Errors made during registration are corrected based on an order of the respective member of the Commission, with the correction noted in the corresponding record. (6) Correction of errors and inaccuracies in submitted electronic registration forms is carried out by submitting a new electronic form. (7) The Commission builds and maintains an automated information system for submitting information by the persons under Art. 2, as well as for viewing and distributing electronically the information contained in the registers under Art. 2. (8) The standards, procedures and rules for the organization and functioning of the automated information system are determined by the Chairman of the Commission.

Art. 7. (1) For each person subject to registration, a file is opened in the card index, in which all orders for registration relating to him, as well as the information subject to registration, documented on paper, are classified in chronological order of receipt. (2) Each file has a unique number, coinciding with the batch number of the registered person. (3) All documents classified in the file are accompanied by an inventory, on which the date of receipt of the documented documents is placed. The inventory is certified by an official who maintains the card index of registered persons.

Art. 8. (Amended and supplemented, No. 68 of 2014, in force from 01.11.2014.) (1) (Supplemented - SG, No. 68 of 2014, in force from 01.11.2014.) The registration of information on the batch of registered persons and the classification of documents in the files of these persons are carried out by officials determined by order of the Chairman of the Commission, in compliance with normatively defined or established by the Chairman of the Commission rules. (2) (Amended - SG, No. 68 of 2014, in force from 01.11.2014.) Entries in the registers are made within three working days after the issuance of the order for registration, unless a normative act determines another term.

Art. 9. (Amended - SG, No. 68 of 2014, in force from 01.11.2014.) (1) Everyone has the right to free access to the information contained in the registers under Art. 2. (2) (Amended - SG, No. 68 of 2014, in force from 01.11.2014.) Access to the information contained in the electronic database is provided through the Commission's internet webpage. (3) Access to view the information contained in the card index of registered persons is provided on-site in the Commission's building, designated by order of the Chairman of the Commission.

Art. 10. (1) Everyone may request the preparation of a certificate of the information registered in the registers under Art. 2 on paper or electronic media. (2) Requests to view the information registered in the registers under Art. 2, as well as for the preparation of a certificate under para. 1, are addressed to an official designated by order of the Chairman of the Commission.

Chapter Three STORAGE OF REGISTERS

Art. 11. (Supplemented - SG, No. 68 of 2014, in force from 01.11.2014.) Actions for the storage of registers are carried out by the officials who maintain the registers under Art. 2, or under their direction and supervision in compliance with normatively defined or established by the Chairman of the Commission rules.

Art. 12. (Amended and supplemented - SG, No. 68 of 2014, in force from 01.11.2014.) (1) The electronic database is stored in a manner that guarantees the integrity of the information and controlled access for registration and viewing in accordance with the requirements of this Decree. (2) Copying information from the database to electronic media and from the card index of registered persons to paper media outside the cases under Art. 10 is carried out only with the permission of the Chairman of the Commission. (3) (Amended - SG, No. 68 of 2014, in force from 01.11.2014.) The information contained in the electronic database is archived in a manner determined by the Chairman of the Commission. (4) (Repealed - SG, No. 68 of 2014, in force from 01.11.2014).

Art. 13. (1) The card index is stored in a manner that guarantees its physical integrity. (2) Files from the card index may be removed from the premises where they are stored, or provided for viewing only in a manner established by the Commission.

Chapter Four CIRCUMSTANCES SUBJECT TO REGISTRATION

Section I Circumstances subject to registration, common to all registers

Art. 14. (Amended and supplemented - SG, No. 68 of 2014, in force from 01.11.2014; supplemented, No. 95 of 2017, in force from 28.11.2017; amended and supplemented, No. 101 of 2018; supplemented, No. 55 of 2019; amended, No. 30 of 2020; amended and supplemented, No. 97 of 2021, in force from 01.01.2022.) (1) On the batch of each legal entity regardless of the register in which it is maintained, the following are registered:

  1. (amended - SG, No. 101 of 2018.) the name, as well as data on changes in the name, if any have occurred after the registration of the legal entity in the corresponding register under Art. 2;
  2. (amended - SG, No. 68 of 2014, in force from 01.11.2014; supplemented, No. 95 of 2017, in force from 28.11.2017.) the unique identification code (EIC) and, where applicable, the legal entity identifier code (LEI code);
  3. the legal-organizational form;
  4. (supplemented - SG, No. 68 of 2014, in force from 01.11.2014; repealed, No. 30 of 2020.) ;
  5. (amended - SG, No. 68 of 2014, in force from 01.11.2014.) the correspondence address, telephone, fax, e-mail address and internet website;
  6. (supplemented - SG, No. 68 of 2014, in force from 01.11.2014.) the seats and addresses of branches or offices, if any;
  7. the date and manner of establishment;
  8. (repealed - SG, No. 30 of 2020);
  9. the term for which the legal entity is established, if any;
  10. (repealed - SG, No. 30 of 2020) ;
  11. (repealed - SG, No. 30 of 2020) ;
  12. (repealed - SG, No. 30 of 2020) ;
  13. (repealed - SG, No. 30 of 2020) ;
  14. (repealed - SG, No. 30 of 2020) ;
  15. (repealed - SG, No. 30 of 2020) ;
  16. (amended - SG, No. 101 of 2018; repealed, No. 30 of 2020) ;
  17. (amended - SG, No. 101 of 2018; repealed, No. 30 of 2020) ;
  18. (amended - SG, No. 101 of 2018; repealed, No. 30 of 2020) ;
  19. (supplemented - SG, No. 68 of 2014, in force from 01.11.2014; amended, No. 101 of 2018; repealed, No. 30 of 2020) ;
  20. (amended - SG, No. 68 of 2014, in force from 01.11.2014.) the transformation of the legal entity;
  21. (repealed - SG, No. 30 of 2020) ;
  22. (amended - SG, No. 68 of 2014, in force from 01.11.2014.) the register or registers of the Commission in which the person is maintained;
  23. (amended and supplemented - SG, No. 101 of 2018.) information on the applied compulsory administrative measures by the Commission, respectively a Vice-Chairman of the Commission, as well as their cancellation, the grounds for their application, the number and date of the decision;
  24. (amended and supplemented - SG, No. 101 of 2018.) information on the property sanctions imposed by the Chairman of the Commission, respectively a Vice-Chairman of the Commission, the legal provisions that were violated, the number and date of the penalty order;
  25. (amended - SG, No. 68 of 2014, in force from 01.11.2014; amended and supplemented, No. 101 of 2018.) information on the fines imposed on the persons authorized to manage and represent the legal entity, by the Chairman of the Commission, respectively a Vice-Chairman, the legal provisions that were violated, the number and date of the penalty order;
  26. (amended - SG, No. 68 of 2014, in force from 01.11.2014; amended, No. 101 of 2018; supplemented, No. 55 of 2019; repealed, No. 30 of 2020) ;
  27. (supplemented - SG, No. 68 of 2014, in force from 01.11.2014; amended, No. 101 of 2018; repealed, No. 30 of 2020) ;
  28. (amended - SG, No. 68 of 2014, in force from 01.11.2014; amended, No. 101 of 2018; amended, No. 30 of 2020.) the date and number of the Commission's decision to remove the legal entity from the corresponding register. (2) (Supplemented - SG, No. 68 of 2014, in force from 01.11.2014.) In cases where some of the data under para. 1 are not applicable to a specific person, they are replaced with the corresponding information if such is available. (3) (New - SG, No. 101 of 2018.) The Legal Entity Identifier code (LEI code) is also registered for any person whose circumstances are registered in the batch of a person registered in a register under Art. 2, when the person possesses such a code. (4) (New - SG, No. 101 of 2018; amended and supplemented, No. 97 of 2021, in force from 01.01.2022.) Information on a applied compulsory administrative measure, respectively information on an imposed property sanction or fine, is disclosed in the registers under Art. 2 after the decision, respectively the penalty order, enters into force, unless otherwise provided by a normative act. Disclosure of information under the preceding sentence is carried out in the volume, under conditions and in a manner, consistent with the requirements in the relevant normative act, if any.

Section II Circumstances subject to registration in the register for regulated markets for financial instruments (Title amended - SG, No. 63 of 2008; supplemented, No. 68 of 2014, in force from 01.11.2014.)

Art. 15. (Amended - SG, No. 12 of 2006; fully amended, No. 63 of 2008; amended and supplemented, No. 68 of 2014, in force from 01.11.2014; supplemented, No. 95 of 2017, in force from 28.11.2017; amended and supplemented, No. 101 of 2018; amended, No. 30 of 2020; amended, No. 47 of 2022.) (1) The following are registered in the register for regulated markets:

  1. (supplemented - SG, No. 95 of 2017, in force from 28.11.2017.) the Commission's decision, by which a license is issued to carry out activities as a regulated market, and the license number;
  2. the name, EIC, seat and management address of the market operator;
  3. the capital size of the market operator;
  4. (supplemented - SG, No. 68 of 2014, in force from 01.11.2014; amended, No. 101 of 2018; repealed, No. 30 of 2020) ;
  5. (supplemented - SG, No. 68 of 2014, in force from 01.11.2014; amended, No. 101 of 2018; repealed, No. 30 of 2020) ;
  6. (amended - SG, No. 101 of 2018.) the names of the natural persons elected as members of the board of directors, the management board and the supervisory board of the market operator;
  7. the name, EIC, seat and management address of the legal entities elected as members of the board of directors, the management board and the supervisory board of the market operator;
  8. (amended - SG, No. 101 of 2018.) the names of the natural persons who represent the legal entities, members of the board of directors, the management board and the supervisory board of the market operator;
  9. (amended - SG, No. 101 of 2018.) the names of all other persons authorized to manage and represent the market operator;
  10. (repealed - SG, No. 68 of 2014, in force from 01.11.2014);
  11. the rules of operation of the regulated market;
  12. (repealed - SG, No. 101 of 2018);
  13. (amended - SG, No. 101 of 2018; repealed, No. 30 of 2020) ;
  14. (amended - SG, No. 101 of 2018.) the approval of the Minister of Finance and the Governor of the BNB under Art. 153, para. 2 LMFI;
  15. (amended - SG, No. 101 of 2018.) the approval under Art. 187, para. 2, item 2 LMFI for carrying out settlement of transactions through a system other than the one applied by the regulated market;
  16. (amended - SG, No. 101 of 2018.) the approval under Art. 188, para. 2 LMFI for carrying out clearing and/or settlement of transactions concluded on the regulated market through a central counterparty, clearing house and settlement system in another member state;
  17. the Commission's decision to withdraw the license to carry out activities as a regulated market;
  18. (amended - SG, No. 101 of 2018.) the names of the appointed receivers.
  19. (new - SG, No. 101 of 2018.) the persons acting as market-makers on the corresponding regulated market;
  20. (new - SG, No.
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