site.btaFinancial Regulator New Chair Golemanski Pledges Partnership amid Digital Disruption and Geopolitical Volatility

Vasil Golemanski, the newly elected Chair of the Financial Supervision Commission (FSC), set out his agenda during Investor Day 2025: Embracing Opportunities at the Inter Expo Centre in Sofia on Monday.

Sharing the stage with other officials who opened the forum—organised by the Bulgarian Stock Exchange—he delivered his first major public address.

Golemanski listed regular dialogue with supervised entities and balanced growth of the non-banking financial sector’s three pillars—investments, insurance and pensions—among his main priorities. His programme also provides for the introduction of multi-funds into the pension system and creating a functional market for government securities.

He identified three main challenges. First, volatile geopolitical dynamics that, he warned, undermine trust that has taken years to build. 

Second, accelerated digitalisation, with crypto assets and blockchain “fundamentally changing” markets and economies. 

Third, a constantly evolving EU rulebook that could impose “over-regulation and unnecessary administrative burdens.” 

He singled out the Digital Operational Resilience Act and the Markets in Crypto-Assets Regulation as the toughest requirements investors now face.

“The immediate task before us in the coming months is the accession of the non-banking financial sector and Bulgaria to the eurozone,” he said. 

The sector, he noted, was “almost fully prepared,” yet companies must be “mentally ready” for fiercer competition and must follow every rule “strictly” when expanding abroad.

Golemanski stressed a more collaborative stance from the watchdog itself: “I see the FSC as a partner and guide—not only as a regulator that intervenes when an error occurs.” He said he wanted the investment, insurance and pension segments to “change in parallel and develop side by side.”

Finance Minister Temenuzhka Petkova and Deputy Prime Minister and Minister of Innovation and Growth Tomislav Donchev attended the forum—a sign, Golemanski said, of State support for capital-market development and stronger trust.