History

The Bulgarian Association of Licensed Investment Intermediaries (BALII) was founded in 1997 by three investment firms (“Euro-Finance”, “Ever” and “Ulpia Investment Management”) as the first association in Bulgaria of the professional participants in the securities trading and managers of investment portfolios. BALII adopted its rules at the Constituent Meeting held on 30.01.1997 in the city of Sofia. The Association was entered in the Register of non-profit organizations at the Sofia City Court (SCC) under company file № 1505/1997 by a decision of the SCC dated  29.05.1997, when it  emerged as a legal entity.

BALII is generally one of the oldest professional organizations on the capital market created under the regulations of the first law for the public offering and trade in securities in Bulgaria, adopted in 1995 – the Securities, Stock Exchanges and Investment Companies Act.

BALII established itself as a leading organization uniting the professional participants in the capital market and it gained prestige with its consistent policy of protecting the interests of the investment firms investors and the investment community as a whole as well as of developing the sector of provision of financial services and ensuring the stability and the integrity of the market in financial instruments in the country.

BALII has established itself as an influential organization with impact on the capital market in the country, and it has sent out its representatives to the Investor Compensation Fund, the Arbitration Court at the Central Depository (CD), the Arbitration Court at the Bulgarian Stock Exchange (BSE), the Committee for the Management of the Guarantee Fund for the Settlement of Trades in Financial Instruments under Art. 139, paragraph 1 of the Rules of the Central Depository, the Examination Board for brokers and investment advisers, the Board of Directors of the BSE and the Board of Directors of the Central Depository.

BALII supported and participated in the creation of National Users Group (NUG) in connection with the project of the European Central Bank Target 2 Securities for the establishment of a pan-European platform for settlement of transactions in financial instruments. BALII has established itself as a major organization working closely with the National Assembly, Council of Ministers, Ministry of Finance and the Financial Supervision Commission (FSC).

BALII is the main entity organizing courses for brokers and investment advisers, and over the years it has prepared hundreds of highly trained staff operating in the capital market.