Hanfa initiates ex officio supervision of trading in securities of credit institutions supervised by the CNB

Published: 13 January 2022

Following the publication of an article on the Index web portal, the Croatian Financial Services Supervisory Agency (Hanfa) has initiated a supervisory procedure to determine whether employees of the Croatian National Bank violated the provisions of the Market Abuse Regulation and the Capital Market Act, i.e. whether any insider dealing took place.

In order to determine complete and accurate facts, Hanfa has started collecting relevant documentation and statements from persons possessing information of relevance for the supervisory procedure and will conduct analyses and draw conclusions based on the information gathered.

Hanfa will inform the public about the results of the supervisory procedure and, depending on its outcome, file appropriate charges to the competent national authorities.

Pursuant to the Market Abuse Regulation, Hanfa continuously monitors and supervises possible market abuse and reacts on its own if it notices transactions, events and behaviour that may indicate insider dealing, but also receives reports of suspected market abuse. Such indications can always be reported by the Zagreb Stock Exchange, investment firms and any other private or public institution, as well as by citizens, or anonymously, which can also be done in this case by writing to the following address: zlouporaba.trzista@hanfa.hr.

It should be pointed out that the violation of the Act on the CNB and internal rules by the CNB employees in such a way that the securities of credit institutions are traded does not necessarily represent market abuse within the meaning of the Capital Market Act and the Market Abuse Regulation. With regard to a possible violation of the CNB Act and CNB internal rules, Hanfa is not authorised to initiate supervision.