site.btaOECD Principles of Corporate Governance Are Important for Development of Bulgaria, FSC Chair Atanasov Says

The Organisation for Economic Co-operation and Development (OECD) Principles of Corporate Governance are important for the development of Bulgaria and its accession to OECD, Financial Supervision Commission (FSC) Chair Boyko Atanasov said, addressing a conference on the topic at the Inter Expo Center in Sofia on Wednesday. Moreover, these Principles support economic growth, improve corporate governance, promote social responsibility and ensure compliance with the law, Atanasov added.

The FSC-organised forum discusses companies' progress in environmental, social and governance practices, the challenges in implementing the Digital Operational Resilience Act DORA, and the challenges and opportunities posed by the Markets in Crypto-Assets Regulation MiCA implementation.

According to Atanasov, the OECD Principles pave the path to economic success. Corporate governance is the foundation of any successful business and provides the principles of ethics, transparency and accountability which are key to long-term stability, he said.

In Atanasov’s words, people live in a world of constant change and multiple challenges and corporate governance is a very important tool. MiCA will have a significant impact on the financial sector, the FSC Chair further stressed.

MiCA creates legal certainty, a regulatory environment in which crypto assets will find a place in trade, and the gap between traditional finance and the crypto world will be bridged through clear rules and principles, Atanasov noted. Meanwhile, DORA is a key EU initiative on digital technologies in financial services, he said.

Both regulations are knocking on our door, Atanasov underscored.