Regulatory Alerts2007-10-04
Added · Updated
Ordinance No. 15 of the Ministry of Finance and the BNB on the Control over Transactions in Government Securities
This Ordinance establishes the terms and procedures for the regulation and control over primary and secondary market transactions in book-entry government securities. It defines government securities primary dealers as banks and investment intermediaries meeting specific licensing, operational, and personnel requirements, who are selected annually by a commission designated by the Minister of Finance. The Ministry of Finance and the Bulgarian National Bank (BNB) jointly exercise control over government securities registration systems in the BNB and subdepositories, including daily, weekly, and monthly data reconciliations for ESROT participants. The Minister of Finance and primary dealers may also jointly establish an advisory Committee of Primary Dealers of Government Securities, and the Ministry of Finance may exclude primary dealers for non-compliance.
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