LEGISLATION AND REGULATION
A new Law on Money Laundering, proposed by the Council of Ministers, is passed at first reading by the Parliament
The Parliament adopted at first reading a new Law on the Measures against Money Laundering, proposed by the Council of Ministers. The law aims to achieve compliance with a EU directive on preventing the use of the financial system for money laundering and funding terrorism.
The new law, which will replace the existing one, aims at strengthening the prevention of money laundering and funding terrorism, the fight against corruption, more effective risk assessment, and enhanced capacity of the competent national institutions for analysis and information exchange. This was mentioned in the report of the Committee on Internal Security and Public Order. The law provides for two types of inspections: a complex one and a simplified one, which depend on the potential risk assessment.
The Council of Ministers has legislated the setting up of an inter-institutional working group, which will prepare and update a National Risk Assessment. The law introduces stricter sanctions for non-compliance as well as improved control functions of the supervisory authorities. Major changes are also planned in the rules for determining the source of funds to achieve better efficiency, administrative economy and flexibility in view of the type of transaction or operation, the client risk profile, etc. The Chair of the State Agency on National Security will control the implementation of the law.
NEWS FROM BCCI
Discussion at BCCI of the priorities of the Bulgarian Presidency of the Council of the EU
The Bulgarian Presidency will be held in Bulgarian – we want to emphasize the role of the Cyrillic and our contribution to the development of Europe Още
The management of the Bulgarian – Lebanese Business Council visited BCCI
Real estate, construction, printing, food industry – sectors with potential for cooperation Още
BCCI issues Certificates to companies ranked in the latest editions of the “TOP 100” and “TOP 1500+” classifications
As an evidence of the companies’ good performance before partners and objective assessment of their successes Още
Lecture Japan-EU Economic Relations
24 October 2017, Sofia, Hotel BALKAN Още
INVESTMENT NEWS
New investments of BGN 350 million in the automotive sector in Bulgaria
The Bulgarian economy has made a qualitative leap in terms of restructuring of the automotive sector for the manufacturing industry Още
BULGARIAN ECONOMY
Exports to non-EU countries in the January-August period jumped by nearly 17%
Turkey, Russia, China, Serbia, the Republic of Macedonia and Egypt accounted for 51.6% of the exports to third countries Още
LEGISLATION AND REGULATION
A new Law on Money Laundering, proposed by the Council of Ministers, is passed at first reading by the Parliament
The law aims to achieve compliance with a EU directive on preventing the use of the financial system for money laundering and funding terrorism. Още
TOURISM IN BULGARIA
50% more Chinese tourists in Bulgaria
In September 2017 a tourist information center of Bulgaria was opened in the Shanghai Megalopolis Още
