/ world today news/ The Financial Supervision Commission (FSC) imposed coercive administrative measures on Ivo Prokopiev‘s business group “Alfa Finance Holding” AD as a company issuing bonds. This happened with two decisions from December 11, “Banker” reports.
The reason for the decisions is hidden information from the financial statements of the holding, sent to the supervisor. The control body is motivated by legal texts that require “the reports, notifications and other information that are disclosed publicly under this law, contain the information necessary for investors to make an informed investment decision”.
In addition, in diplomatic language, it says that “reports, notifications and information cannot contain false, misleading or incomplete data”. “Alfa Holding” has the obligation within three days to remove the deficiencies, and to do so through the unified system for providing information electronically, built and maintained by the Financial Supervision Commission (FSC) – e-Register.
The supervision has hounded “Alfa Finance” for the fact that in the interim financial statements for the quarters for 2011, as well as in the annual document for the same year, information important for the supervision and investors regarding its financial condition is missing.
The non-fulfillment of the requirements of the above-described imperative provisions is grounds for opening an administrative proceeding for the application of a coercive administrative measure with the aim of stopping the violation, since the inaction on the part of the supervised person hinders the exercise of the control activity by the FSC and endangers the interests of investors, writes already in the decision of the FSC.
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