Capital market

The Croatian capital market, as well as the scope of activities and competence of Hanfa, is regulated by the Capital Market Act and the Act on the Takeover of Joint-Stock Companies.

The Capital Market Act regulates the following areas:

  • provision of investment services and performance of invested activities and related ancillary services
  • establishment, business operations, supervision and dissolution of investment firms
  • investor compensation scheme
  • establishment, business operations, supervision and dissolution of market operators
  • rules of trading on a regulated market and multilateral trading facility (MTF)
  • offering of securities to the public and admission of securities to a regulated market 
  • disclosure of information on issuers of securities admitted to a regulated market
  • prohibition of market abuse
  • establishment, business operations, supervision and dissolution of operators of clearing and/or settlement systems
  • safekeeping of financial instruments and clearing and settlement of transactions in financial instruments.

The Act on the Takeover of the Joint-Stock Companies regulates the following areas:

  • conditions governing publication of takeover bids for offeree companies
  • takeover procedure
  • rights and obligations of participants in a takeover procedure
  • supervision of procedures relating to takeover of offeree companies.

The following are capital market participants in the Republic of Croatia:

  • investors in financial instruments
  • intermediaries (investment firms, credit institutions, and others)
  • issuers of securities and other financial instruments
  • Zagrebačka burza d.d. Zagreb (Zagreb Stock Exchange) (market and MTF operator)
  • Središnje klirinško depozitarno društvo d.d. Zagreb (Central Depository and Clearing Company) (operator of the central depositary of dematerialised securities and operator of the central register of other dematerialised financial instruments, operator of the clearing and settlement system for dematerialised securities and operator of the investor protection scheme).

This website provides a list of firms authorised to provide investment services and perform investment activities, a list of brokers and investment advisors, a list of tied agents and a list (notification) of investment firms with their registered offices in Member States providing investment services and performing investment activities in the territory of the Republic of Croatia. It also offers an overview of other information pertaining to the Croatian capital market.