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Two brokerages drop out of Bulgarian market

23. November 2010. | 07:23

Source: Dnevnik

Capital Finance and Astra Investment have emerged as the latest investment brokerages to exit the market since the financial and economic crisis erupted, business daily Dnevnik said.

Capital Finance and Astra Investment have emerged as the latest investment brokerages to exit the market since the financial and economic crisis erupted, business daily Dnevnik said.

At its latest session, Bulgaria's Financial Supervision Commission (FSC) invalidated the permit of Capital Finance, while Astra Investment decided to return its licence to the regulator and cease operations at an extraordinary meeting on November 15.

Astra Investment's liquidation should be completed within 12 months and the process will be managed by former executive head Desislava Yordanova.

This is the latest string of investment companies returning voluntarily their licences since the start of the financial turmoil. Up till now, the trend only involves minor companies, including Bora Invest, KD Securities, Balkan Securities, Leader Invest, Sofia Invest Brokerage, BulFin Invest.

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