Organisation and control of the security of banks and financial institutions

Draft Regulation amending Regulation No 8121h-444 of 2016 on the organisation and control of the securityof banks and financial institutions

The draft proposes to eliminate the currently incorrect reference to repealed by-laws, compliance with thecurrent legislation relevant to Regulation No 8121h-444, as well as a reference to the current Bulgarian statestandards, which must be met by some of the elements used to ensure the physical protection of banks’facilities.

The draft also provides for a change in order to comply with the norm of § 3 of the Additional Provisions of theLaw on Credit Institutions (LCI), which contains the statutory delegation for the issuance of the Regulation withregard to its subject matter.