RegAlert2026-07-27
Added · Updated
Law on the Activity of Collective Investment Schemes and Other Collective Investment Undertakings
This Law regulates the establishment, operation, and supervision of collective investment schemes (CIS), including contractual funds and investment companies, as well as alternative investment fund managers. It mandates that CISs obtain licenses or permits from the Financial Supervision Commission (FSC) to operate, sets minimum net asset thresholds of 300,000 euros for investment companies and 250,000 euros for contractual funds, and requires immediate disclosure and corrective measures if these thresholds are breached. The legislation prohibits unauthorized entities from using terms such as "investment company" or "contractual fund" and establishes strict eligibility criteria for board members, including disqualifications for criminal convictions or insolvency involvement.
FSC published 2 documents in the last 30 days — get each new one by email the day it lands.
LAW on the Activity of Collective Investment Schemes and Other Collective Investment Undertakings Pub. - State Gazette, No. 77 of 04.10.2011; amended, No. 21 of 13.03.2012; amended, No. 109 of 20.12.2013, effective from 20.12.2013; amended, No. 27 of 25.03.2014; amended, No. 22 of 24.03.2015, effective from 24.03.2015; amended, No. 34 of 12.05.2015; amended, No. 42 of 03.06.2016; amended, No. 76 of 30.09.2016, effective from 30.09.2016; amended, No. 95 of 29.11.2016; amended, No. 62 of 01.08.2017; amended, No. 95 of 28.11.2017, effective from 01.01.2018; amended, No. 103 of 28.12.2017, effective from 01.01.2018; amended, No. 15 of 16.02.2018, effective from 16.02.2018; amended, No. 20 of 06.03.2018, effective from 06.03.2018; amended, No. 24 of 16.03.2018, effective from 16.02.2018; amended, No. 27 of 27.03.2018; amended, No. 77 of 18.09.2018, effective from 01.01.2019; amended, No. 83 of 22.10.2019, effective from 22.10.2019; amended, No. 94 of 29.11.2019; amended, No. 102 of 31.12.2019; supplemented, No. 26 of 22.03.2020; affected by the Law on Measures and Actions during the State of Emergency, No. 28 of 24.03.2020, effective from 13.03.2020; supplemented, No. 34 of 09.04.2020, effective from 09.04.2020; affected by the Supplementary Amendment to the Health Act, No. 44 of 13.05.2020, effective from 14.05.2020; amended, No. 64 of 18.07.2020, effective from 21.08.2020; amended, No. 12 of 12.02.2021, effective from 12.02.2021; amended, No. 21 of 12.03.2021; amended, No. 16 of 25.02.2022; amended, No. 25 of 29.03.2022, as the amendments by the Supplementary Amendment to the Law on Collective Investment Schemes enter into force from 29.03.2022, and the amendments by the Law on the Financial Supervision Commission enter into force from 08.07.2022; amended, No. 51 of 01.07.2022; amended, No. 65 of 28.07.2023; amended, No. 84 of 06.10.2023; amended, No. 85 of 10.10.2023, effective from 10.10.2023; amended, No. 106 of 22.12.2023, effective from 01.01.2024; amended, No. 70 of 20.08.2024, effective from the date determined in the Decision of the Council of the European Union on the adoption of the euro by the Republic of Bulgaria, adopted in accordance with Article 140(2) TFEU, and the Council Regulation on the adoption of the euro by the Republic of Bulgaria, adopted in accordance with Article 140(3) TFEU; amended, No. 79 of 17.09.2024; amended, No. 49 of 17.06.2025; amended, No. 54 of 04.07.2025; amended, No. 64 of 05.08.2025; amended, No. 99 of 21.11.2025; amended, No. 25 of 10.03.2026; amended, No. 67 of 24.07.2026
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Source: Financial Supervision Commission Bulgaria — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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FSC published 2 documents in the last 30 days. We email you each new one the day it's published.