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News

7th of February 2013

On 18th of February 2013 The Association of Bulgarian Investor Relation Directors, along with four other organizations on the capital market submitted to the Financial Supervision Commission an opinion on the Draft regulation on the requirements for remuneration. Opinion

   

29th of January 2013

In November 2012 The European Securities and Markets Authority (ESMA) published a set of priority issues, which will be used by the Financial Supervision Commission in the review of the annual financial reports for 2012 on compliance with IFRS. A letter from the Financial Supervision Commission has been received in the Association of Bulgarian Investor Relation Directors, which reminds the public companies and their auditors to consider the main issues addressed in the Public Statement in preparation and auditing the Annual Financial Reports-2012.

You can find more information about the public statement here.

   

25th of January 2013

On 25th of January 2013 on the website of the Financial Supervision Commission has been published Draft Regulation on the remuneration, which is being proposed for public discussion and consultation.

We welcome your comments and notes on the text of the document until 15.02.2013, in view of preparing an opinion.

You can see the Regulation on the remuneration here.

   

1st of January 2013

Law amending and supplementing the Law on Public Offering of Securities Act became valid since 01st of January 2013. It includes a number of changes, related to the activities of public companies and other issuers of securities. In this regard we present to your attention analytical material about the adopted most important changes with a comparative table of the new and old texts and the revised Law on Public Offering of Securities Act.

It should furthermore be kept in mind, that the Financial Supervision Commission    announces the deadline for payment of annual fees by the regulated entities is on 31.01.2013. With amendment of Law on Financial Supervision Commission (amendment and supplement 103 since 28.12.2012) is changed the period, within which regulated entities must pay a fee for exercise of general financial oversight.

The fees are paid annually by January 31 of the current year. The fees of the newly registered, during the respective year, persons, are calculated proportionally to the time of their entry in the commercial register until the end of the year, as days of the year shall be 360.In these cases the fee is to be paid no later than 31st of January of the year, following the year of registration. In case of failure of payment within the stipulated period of the fee for the period of delay the sum due shall accrue and pay interest at the statutory rate. In this case the Commission and its authorities may refuse to provide administrative services to the regulated entity until the implementation of its obligation to pay the fee, together with the accrued interests for delay and the costs of enforcement proceedings instituted.

Read more: 1st of January 2013

   

21st of December 2012

Public statement of the European Securities and Markets Authority in connection with the financial reports for 2012.

 On 12th of November 2012 the European Securities and Markets Authority published on its official website Public statement that defines the overall priorities in the law enforcement, that will be used by the national competent regulators regarding compliance with the International Financial Reporting Standards in the financial reports for 2012. of the companies applying these standards.

Read more: 21st of December 2012

   

20th of December 2012

Annual General Meeting of the Association of Bulgarian Investor Relation Directors was held on 20th of December 2012. The annual report of the Managing Board of the Association, program and budget for 2013 were adopted at the meeting. The annual membership fee, determined by the general meeting of the Association of Bulgarian Investor Relation Directors for 2013 amounts to 200 lv. payable no later than 31 January 2013. You can see the program here.

   

23rd of November 2012

BULGARIAN STOCK EXCHANGE – SOFIA INDEXES

At a meeting of the Board of Directors of BSE-Sofia AD, held on 22nd of November 2012, have been adopted the following decisions:

 Pursuant to Article 16, p.1 and Article 26 of the Rules for calculating the indexes on BSE-Sofia, The Board of Directors of BSE-Sofia has decided on changes in Annex № 1 Methodology for calculating SOFIX, as follows:

Read more: 23rd of November 2012

   

9th of November 2012

Information regarding the implementation of the Regulation on OTC derivatives

Regulation (EU) № 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories came into force on 16 August 2012.

The main objectives of the Regulation are: - Increasing transparency in the trading on OTC derivatives markets – Reducing credit risk of the counterparty, which is observed in trade with OTC derivatives - Reducing operational risk, associated with OTC derivatives.

Read more: 9th of November 2012

   

9th of November 2012

Implementation of the Regulation for short sales begins

Implementation of the Regulation for short sales begins The implementation of Regulation (EU) №236/2011 of the European Parliament and of the Council on short sales and certain aspects of credit default swaps (the Regulation) began since 01st of November 2012.

The Regulation and its implementing instruments contain an obligation to disclose information to the national supervisory authority by natural and legal persons, who have net short position in the issued share capital of a company whose shares are admitted to trading.

Read more: 9th of November 2012

   

29th of October 2012

On 29.10.2012 National Corporate Governance Committee elected a new Chairman of the committee - Prof. Stefan Petranov. Prof. Petranov's deputy Chairman of the Board of Directors of Zlaten Lev Capital and will replace the current Chairman of the committee PhD. Manyu Moravenov.

   

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