Financial Supervision Commission

The court failed to proceed with the case against former finance minister, Simeon Dyankov, former minister of the economy Traicho Traikov, businessman Ivo Prokopiev, the Executive Director of investment intermediary "Bulbrokers", Radoslav Rachev, and two of his employees, reports BNT. 

Buyer of second hand cars will inherit the cost of the third party liability insurance from the seller, reports BNT. 

The Bulgarian financial services company, Karoll Capital Management, will expand its business by entering the Romanian market. The company will launch the offer of its partner's funds there Schroders, the official announcement shows.

SOFIA, Aug 22 (Reuters) - Bulgaria's financial regulator said it will "make every effort" to protect clients of Cyprus' Olympic Insurance Company, whose closure has left 200,000 Bulgarians without car insurance, as it blamed its former head of insurance supervision for the crisis.

SOFIA (Bulgaria), August 21 (SeeNews) - Bulgarian diversified group Industrial Holding Doverie has submitted an improved offer for the remaining 9.36% stake in local company Hydroizomat [BUL:4HI] it does not already own, priced at 1.43 levs ($0.84/0.73 euro) per share, the insulation materials producer said on Tuesday.

Sofia. The Parliament dismissed Ralitsa Agayn as deputy chair of the Financial Supervision Commission (FSC), Focus News Agency reports. 138 MPs voted in favour of her resignation, while 3 voted against it and 3 abstained. Ralitsa Agayn was deputy chair in charge of the Insurance Supervision Division.

Sofia. The losses for Bulgarians insured by Olympic Insurance will be BGN 200 on average, Financial Supervision Commission (FSC) Deputy Chair Ralitsa Agayn said during today's extraordinary Parliament session, Focus News Agency reports. 197,000 policies were terminated on August 17.

* Cyprus-based insurer put into liquidation

* Public anger as 200,000 Bulgarians left without car insurance

* Government calls for resignation of regulator's deputy chair

By Angel Krasimirov

Sofia. The government's position is that Financial Supervision Commission (FSC) Deputy Chair Ralitsa Agayn should resign, Minister of Finance Vladislav Goranov said at a briefing after a meeting with Prime Minister Boyko Borissov with regard to bankrupt Cyprus insurance company Olympic, Focus News Agency reports.

Sofia. We make a commitment to tighten the requirements for tour operators and agents with respect to insurance limits, for which we are already in contact with the Financial Supervision Commission, Minister of Tourism Nikolina Angelkova told Nova TV.