“Financial Consumer Protection in Bulgaria”

Seminar on “Financial Consumer Protection in Bulgaria” with the special participation of key World Bank experts took place at VUZF University on December 18, 2012.
The stability of the financial market has become a priority and the financial sector reform turned out to be a fundamental instrument for its implementation after the 2008 global financial crisis. Gradually, countries began to note not only the short-term measures, but also to turn their policies to mid-term and long-term measures by improving the regulatory reform in the financial sector. In developed economies, such regulatory reforms include prudential financial regulation and improvement of the financial supervision. In fact this was visible on regional level taking in account the recent changes within the EU. These measures are also important in developing countries and emerging market economies, but they should be supplemented also by measures for the improvement of the level of financial competence of the population and the financial consumer protection system.
Financial Consumer Protection is a mandatory course for master students at VUZF University since 2012/2013 academic year. Prof. Evgeni Evgeniev leads this course which is unique not only to Bulgaria. Over 120 students from VUZF University (extramural and distant studies) were already given knowledge from the source, given that the course is joined by top financial experts as guest lecturers, who are involved in both, design and teaching.

The students from the course were given an opportunity to present on a relevant topic (see attached), which attracted not only students and professors but also representatives from the private financial sector, as well as regulators and supervisory authorities. The moderators of the event were Ms. Ralitsa Again-Guri and Dr. Daniela Bobeva, while top experts were keynote speakers through a video connection. Mr.Juan Carlos Izaguirre spoke about the global practices in regulation, Thomas Pruza discussed the good practices in the design and implementation of reforms, while Sue Rutledge talked about the future of policies and reforms in the area of financial consumer protection. Prof. Evgeni Evgeniev opened the seminar with a discussion on the need to include Financial Consumer Protection in the University curricular.

Agenda for the event can be found here.

Speakers/Moderators bios can be found here

Seminar Presentations

Evgeni Evgeniev, here
Thomas Prouza, here
Juan Carlos, here

Banks (students)
Insurance (students)
Rating (students)
Consumer Protection Commission (students)