The Bulgaria Financial Supervision Commission published a set of decisions from its meeting, covering approvals for key function holders and pension fund governance, authorisation for an investment fund transformation by merger, and the launch of consultations on proposed changes to professional qualification and examination rules for insurance brokers and responsible actuaries. It also suspended proceedings related to the approval of a new manager at investment intermediary Alaric Securities Ltd. The FSC approved Ivelina Ivanova as the person to manage the compliance function in GROUPAMA INSURANCE EAD and GROUPAMA LIFE INSURANCE EAD, and approved amendments to the Rules of Organization and Operation of the Voluntary Pension Fund – FUTURE. It also issued a permit to Karoll Capital Management EAD for the transformation of the mutual fund Advance Emerging Europe in New Europe through a merger into Class A of Karoll – Advance Emerging Europe Opportunities, a subfund of Karoll SICAV managed by Waystone Management Company (Lux) S.A. At first reading, the FSC adopted draft amendments to Ordinance No 28, covering the conduct of professional qualification examinations for insurance brokers, recognition of qualifications acquired in a Member State, and registration of vocational training materials, with comments open until 2 December 2025. It also adopted draft amendments to Ordinance No 31 on responsible actuary examinations and recognition, including rules on actuarial certification and the form and content of actuarial reports under the Insurance Code and the Social Security Code, with comments open until 18 December 2025; both drafts and their motives are published on the FSC website under Regulations/Public consultations.

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