27th Meeting of the Board

On 17 June 2020, the Board of the Croatian Financial Services Supervisory Agency held its 27th meeting and adopted the following decisions of public interest:

1. Decision determining that the company ADRIATIC ZAGREB FACTORING d.o.o., Zagreb, Andrije Žaje 61, personal identification number (OIB): 36856583241, eliminated illegalities and irregularities whose elimination had been ordered by Hanfa’s decision of 14 October 2019 (CLASS: UP/I 973-07/19-01/01; REG:NO.: 326-01-50-52-19-56), in the following manner: it has improved its credit and operational risk management system by adopting and amending internal acts laying down the process of approving factoring activities as regards risk assessment, adoption of decisions on the approval of placements, contracting, using and collecting placements, thus ensuring that factoring activities it carries out are aligned with the Factoring Act and subordinate regulations, which the company started implementing; it has aligned its loan granting activities with Article 21 of the Factoring Act; it has improved its accounting and reporting system by aligning them with the Ordinance on factoring companies’ financial and additional statements and chart of accounts and the Instruction on completing factoring companies’ financial and additional statements of 5 January 2018; it has calculated the value adjustment of receivables on 31 December 2019 in the manner laid down by International Financial Reporting Standard 9 – Financial Instruments; it has improved its system for implementing the Act on the Prevention of Money Laundering and Terrorist Financing; therefore, the on-site examination of business operations of the company is to be finished  

2. Decision granting authorisation to Marko Roth, founder of the insurance representation craft M.R., OBRT ZA ZASTUPANJE U OSIGURANJU, owned by MARKO ROTH, ZAGREB, PRIŠLINOVA 33 A, to carry out insurance distribution activities

3. Decision granting authorisation to Aleksandar Kompanović, founder of the insurance representation craft ALPHA ZASTUPANJE, OBRT ZA ZASTUPANJE U OSIGURANJU, VL. ALEKSANDAR KOMPANOVIĆ, BELI MANASTIR, BANA JELAČIĆA 36, to carry out insurance distribution activities