; HANFA - Meeting of the Hanfa Board: The licence for factoring operations of Centar faktor d.o.o. revoked

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.


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