Europe backs Bulgaria’s Financial Supervision Commission (FSC) and its management. This is what Gabriel Bernardino, Chairman of the European Insurance and Occupational Pensions Authority (EIOPA), said speaking at a briefing at the Bulgarian parliament on Wednesday.
“It was a pleasure to hold a meeting at the Bulgarian parliament. I learned that the new Insurance Code has been passed on first reading.
I would like to greet the Bulgarian government, the Financial Supervision Commission, and the National Assembly for the development of the legislation, which is highly important, and I hope that this Code will be already in force next year,” Mr Bernardino remarked.
In his words, this is the first step towards boosting the trust. He, however, added that there were more steps to be made now in terms of supervision in Bulgaria.
“We are highly satisfied with the very good cooperation we have with the Bulgarian Financial Supervision Commission.
Together we have to improve the level of supervision in Bulgaria further. The good laws are very important but what is even more important is their implementation,” Gabriel Bernardino commented further.
“We should do our best to make the process even more successful in the future. The current moment is very important because together with the Commission we are examining the assets of the insurance market and the pension insurance.
The major goal is to make the market even more reliable and to boost the trust placed in it,” Mr Bernardino remarked.