New Financial Institutions Regulator In Serbia

Serbia's National Bank (Amendment) Act (Official Gazette of the Republic of Serbia, no. 76/12) established the Financial Institutions Supervisory Authority [Uprava za nadzor nad finansijskim institucijama] ("FISA"). The FISA is designated as a specialised regulatory unit within the National Bank (i.e. Serbia's central bank) with responsibility for and corresponding powers to supervise certain financial services and their providers in Serbia.

FISA's Role

Financial institutions which will be supervised by the FISA are banks, insurance companies, financial leasing companies and voluntary pension funds ("regulated financial institutions"). The supervision of other participants in Serbian financial and capital markets, such as broker-dealers, investment funds, stock exchanges and securities clearing house will remain under the remit of the Securities Exchange Commission.