Meeting of the Hanfa Board: The licence for factoring operations of Centar faktor d.o.o. revoked
The Board of the Croatian Financial Services Supervisory Agency (Hanfa) adopted a decision to revoke the approval for factoring operations given to Centar faktor d.o.o. from Zagreb. Such a decision was made amid its failure to comply with the supervisory measures imposed by Hanfa and the gravity of established unlawfulness and irregularities related to improper bookkeeping.
The unlawfulness and irregularities related to presenting an incorrect balance of the company’s liabilities and receivables, especially in the part of borrowings from other parties and inconsistencies in the balance of receivables and liabilities in the company books with those in the company books of creditors and debtors.
Hanfa conducted three administrative procedures of off-site supervision of this company after which it ordered the elimination of the established unlawfulness and irregularities.
However, as it had not been made, all legal requirements for revoking the previously issued licence for the performance of factoring operations were met.
For more details about this and other decisions adopted at today’s meeting of the Hanfa Board, see here.
SHARE THE ARTICLE
Other news items
Hanfa representatives at the regulatory meetup of the Croatian Association for Blockchain and CryptocurrencyRead more
World Savings Day marked: it is important to give new generations knowledge about saving for the futureRead more
Atlantic Grupa, Končar Elektroindustrija and Ericsson Nikola Tesla receive Hanfa awards for the highest level of compliance with the Code of Corporate Governance in 2022Read more
Hanfa Council meeting: Croatian pension system receives positive international ratingRead more
ESMA clarifies timeline for MiCA and encourages market participants and NCAs to start preparing for the transitionRead more
Hanfa issues approval for two money market funds – Eurizon HR Cash UCITS and InterCapital Euro Money Market ETF UCITSRead more