8th Meeting

On 28 February 2020, the Board of the Croatian Financial Services Supervisory Agency held its 8th meeting and adopted the following decisions of public interest:

1. Decision granting authorisation to the alternative investment fund management company Invera Equity Partneri društvo s ograničenom odgovornošću za upravljanje alternativnim investicijskim fondovima, pre-incorporated, with its registered office in Zagreb, to operate as a large AIFM, namely to carry out activities referred to in Article 11(1)(1a) of the Alternative Investment Fund Act - AIF management; and granting authorisation to Kemal Sirić and Edin Hadžavdić to perform the function of a member of the Management Board of the Company, for a term of 5 (five) years, running as of the day of appointment
2. Decision suspending the procedure initiated upon the request: of the company EUROINS INSURANCE GROUP A.D., for the approval for the direct acquisition of a qualifying holding in the insurance company Wüstenrot životno osiguranje dioničko društvo, submitted on 28 June 2019, and supplemented on 11 October, 5 December and 31 December 2019; of the company EUROHOLD BULGARIA A.D., for the approval for the indirect acquisition of a qualifying holding in the Company, submitted on 28 June 2019, and supplemented on 11 October, 5 December and 31 December 2019; of the company STARCOM HOLDING A.D., for the approval for the indirect acquisition of a qualifying holding in the Company, submitted on 28 June 2019, and supplemented on 11 October, 5 December and 31 December 2019; of A.M.C. i V.M.C., for the approval for the indirect acquisition of a qualifying holding in the Company, submitted on 28 June 2019, and supplemented on 11 October, 5 December and 31 December 2019; of K.I.B., for the approval for the indirect acquisition of a qualifying holding in the Company, submitted on 28 June 2019, and supplemented on 11 October, 5 December and 31 December 2019; and the company KJK FUND II, SICAV-SIF S.A., for the approval for the indirect acquisition of a qualifying holding in the Company, submitted on 24 July 2019, and supplemented on 27 September, 4 November and 23 December 2019
3. Decision granting authorisation to conduct insurance distribution business to Vinko Propadalo, founder of the insurance representation craft Agencija Propadalo, obrt za zastupanje u osiguranju, vl. Vinko Propadalo, Sesvete, Ružice Meglaj-Rimac 1
4. Decision granting authorisation to conduct insurance distribution business to Marko Markić, founder of the insurance representation craft MM Aurum, obrt za zastupanje u osiguranju, Marko Markić, Zagreb, Selska Cesta 34
5. Decision granting authorisation to conduct insurance distribution business to Hrvoje Curić, founder of the insurance representation craft CRO HR, obrt za zastupanje u osiguranju, Hrvoje Curić, Nova Gradiška, Urije 3
6. Decision ordering the company HONESTAS PRIVATE EQUITY PARTNERI društvo s ograničenom odgovornošću za upravljanje otvorenim investicijskim fondovima rizičnog kapitala s privatnom ponudom, with its registered office in Zagreb, Jurišićeva 12, personal identification number (OIB): 32697869602, to improve within 90 (ninety) days from the day of receipt of this Decision, at the latest, the established system for controlling the investment value assessment of the fund under its management in order for it to be adequate, documented, comprehensive and efficient, which will ensure functional independence of asset valuation operations from asset management operations of the venture capital alternative investment fund Honestas FGS, all pursuant to Article 153(2)(b) of the Alternative Investment Funds Act, by prescribing and implementing in its internal acts specific and precise measures and procedures by which the organisational unit responsible for the control of the investment value assessment implements the control of proposals for the fair value assessment of individual investments, as well as a clear division of obligations, roles and responsibilities of employees involved in the investment valuation process, and by ensuring a detailed and appropriate documentation of the process of implementing the control in question
7. Decision ordering the company Inspire Investments d.o.o., with its registered office in Zagreb, Ulica Andrije Hebranga 34, personal identification number (OIB): 62573520714, to establish, within 90 (ninety) days from the day of receipt of this Decision, at the latest, and adequate, documented, comprehensive and efficient system for the control of the investment value assessment, which will insure functional independence of asset valuation operations from asset management operations of the venture capital alternative investment fund Inspirio FGS, all pursuant to Article 153(2)(b) of the Alternative Investment Funds Act, by prescribing and implementing in its internal acts specific and precise measures and procedures by which the organisational unit responsible for the control of the investment value assessment implements the control of proposals for the fair value assessment of individual investments, as well as a clear division of obligations, roles and responsibilities of employees involved in the investment valuation process, and by ensuring a detailed and appropriate documentation of the process of implementing the control in question
8. Decision ordering the company PROSPERUS - INVEST društvu s ograničenom odgovornošću za upravljanje fondovima, Zagreb, Ulica grada Vukovara 269 G/6, personal identification number (OIB): 58670915471, to improve within 90 (ninety) days from the day of receipt of this Decision, at the latest, the established system for controlling the value assessment of investments of the funds under its management in order for it to be adequate, documented, comprehensive and efficient, which will ensure functional independence of asset valuation operations from asset management operations of the venture capital alternative investment funds Prosperus FGS and Prosperus FGS II, all pursuant to Article 153(2)(b) of the Alternative Investment Funds Act, by prescribing and implementing in its internal acts specific and precise measures and procedures by which the organisational unit responsible for the control of the investment value assessment implements the control of proposals for the fair value assessment of individual investments, as well as a clear division of obligations, roles and responsibilities of employees involved in the investment valuation process, and by ensuring a detailed and appropriate documentation of the process of implementing the control in question
9. Decision ordering the company QUAESTUS PRIVATE EQUITY d.o.o. za upravljanje otvorenim investicijskim fondovima rizičnog kapitala s privatnom ponudom, Zagreb, Ulica grada Vukovara 269/d, personal identification number (OIB): 40761904921, to improve within 90 (ninety) days from the day of receipt of this Decision, at the latest, the established system for controlling the value assessment of investments of the fund under its management in order for it to be adequate, documented, comprehensive and efficient, which will ensure functional independence of asset valuation operations from asset management operations of the venture capital alternative investment fund Quaestus Private Equity Kapital II, all pursuant to Article 153(2)(b) of the Alternative Investment Funds Act, by prescribing and implementing in its internal acts specific and precise measures and procedures by which the organisational unit responsible for the control of the investment value assessment implements the control of proposals for the fair value assessment of individual investments, as well as a clear division of obligations, roles and responsibilities of employees involved in the investment valuation process, and by ensuring a detailed and appropriate documentation of the process of implementing the control in question