Dimitrov Ivanov & Partners - Attorneys at law

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June 8, 2010

Amendments of the Financial Supervision Commission Act

The latest amendments of the Financial Supervision Commission Act were promulgated today in the State Gazette.

The first main amendment provides for reduction of the number of members of the FSC from seven to five, as well as a new election of FSC members to be made in the coming weeks.

The second key amendment introduces a requirement for disclosure of of "actual" owners of investment firms, management companies, insurance companies, pension insurance companies and securities exchanges.




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