Development of the regulatory framework


The Commission's regulatory activity includes the drafting and adoption of regulations and instructions provided for in the legislation, issuance of guidelines and instructions regarding the implementation and interpretation of the Social Insurance Code, the Law on Public Offering of Securities, the Insurance Act, the Health Insurance Act as well as the secondary legislative acts concerning their implementation in relation to the carrying out of financial supervision.

The regulation of the market participants' activity is in conformity with the European norms and practices. Usually legislative amendments are necessitated by changes that have occurred in the financial system itself, the introduction of new products and technologies or in case imperfections of the effective regulatory framework are established. Along with that a lot of effort is dedicated to the harmonization of the national legislation with the one of the European Union.