Bulgaria Financial Supervision Commission clears a management company ownership change, sets the minimum yield for mandatory pension funds and opens consultation on internal rules

The Bulgaria Financial Supervision Commission (FSC) published decisions from its meeting that include a non-objection to an increase in indirect qualified participation in two management companies, the determination of the minimum yield for mandatory pension funds, and procedural steps linked to cross-border insurance intermediation and ongoing authorisation cases. On ownership, the FSC decided not to prohibit Dragomir Velikov from increasing his indirect qualified participation in Impact Capital AD and Compass Invest AD, following an increase in his direct participation in Compass Capital AD. For pension funds, it determined the minimum yield for the period from 29.09.2023 to 30.09.2025 (with related profitability and minimum-yield data referenced by the FSC as published in its statistics). The FSC also notified the competent authority in Romania of MASTER INS Ltd.’s intention to provide insurance intermediation services under the right of establishment through a branch, and adopted at first reading draft amendments to its Rules of Structure and Procedure. Separately, it sent letters requesting additional information and documents from Stable Asset Management AD regarding a licence to operate as a management company and from Invest Fund Management AD regarding a permit to organise and manage a national investment fund. Comments on the draft internal rules amendments can be submitted within 14 days of publication, until 06.11.2025 inclusive.