The Croatian Financial Services Supervisory Agency (Hanfa) welcomed the Croatian Government’s adoption of the Strategic Framework for Capital Market Development 2025–2030 and an Action Plan for 2025–2026, and set out how it is progressing implementation focused on market liquidity and regulatory relief. The framework sets five strategic directions: regional integration, digitalisation, improved corporate governance, boosting liquidity, and developing new investment products. Under the Action Plan’s liquidity measure for the Zagreb Stock Exchange, Hanfa launched a public consultation on 18 March and published a discussion paper on applying accepted market practices (MAR AMP), to gather input on whether to use currently unused exemptions under Regulation (EU) No 596/2014 on market abuse. In parallel, it is preparing an industry consultation on potential revisions to the laws governing alternative investment funds and UCITS to identify and remove “gold-plating”, and to support new instruments and alternative sources of financing, including strengthening venture capital funds. Hanfa indicated it will continue implementing the Strategic Framework with the Ministry of Finance and other stakeholders.
Croatian Financial Services Supervisory Agency 2025-03-27
Croatian Financial Services Supervisory Agency advances capital market strategy with Zagreb Stock Exchange liquidity consultation and fund rule simplification work
The Croatian Financial Services Supervisory Agency (Hanfa) is advancing the Strategic Framework for Capital Market Development 2025–2030, focusing on market liquidity and regulatory relief. Hanfa launched a public consultation on market practices and is preparing an industry consultation on revising laws for alternative investment funds and UCITS. The agency aims to enhance regional integration, digitalisation, corporate governance, and new investment products.