28th Meeting

01/09/2022

On 31 August 2022, the Board of the Croatian Financial Services Supervisory Agency held its 28th meeting and adopted the following decisions of public interest:

  1. Decision ordering the company AGRAM LEASING d.o.o., Zagreb, Remetinečka cesta 98, OIB: 48922277230, for the purpose of eliminating illegalities and irregularities established in the Report on the on-site examination of 28 June 2022, CLASS: UP/I 993-06/22-01/01, REGNO: 326-01-80-82-22-10, referring to activities contrary to the provisions of Article 52(1)(11) and Article 52(6) of the Leasing Act (Official Gazette, No 141/13), i.e. Article 3(2) and Article 9(1) and (4) of the Ordinance on the content and form of lease agreements and on the methodology for the calculation of the effective interest rate (Official Gazette, No 66/14 and 86/18) to: Within 15 days of receipt of this Decision, start concluding lease agreements with lessees in a clear and comprehensible manner by enabling the lessees to have at their disposal all relevant information on the terms of the agreement, in such a way that agreements contain reasons and conditions for early termination of the agreement which are consistent with the provisions of the Leasing Act (Official Gazette, No 141/13), and in cases where it occurs before delivery / due to non-delivery of the leased asset by the supplier, in particular regarding the definition of conditions for agreement termination by the company AGRAM LEASING d.o.o. or by the lessee, preparation of the final settlement / calculation statement and compensation for damages caused by termination of the agreement; Issuing a warning due to the following illegalities and irregularities established in the Report on the on-site examination of 28 June 2022, CLASS: UP/I 993-06/22-01/01, REGNO: 326-01-80-82-22-10: acting contrary to the provisions of Article 57(3) of the Leasing Act (Official Gazette, No 141/13), given it activated the Financial Lease Agreement, that is, charged the lessee with the fee that they would be required to pay under the leasing agreement after the delivery of the leased asset even though the delivery of the leased asset was not carried out; acting contrary to the internal regulation “Rules and procedures for risk assessment, lease authorisation, prevention of money laundering and terrorist financing” of 12 January 2009, given it activated the Financial Lease Agreement, that is, charged the lessee with the fee that they would be required to pay under the leasing agreement after the delivery of the leased asset even though the delivery of the leased asset was not carried out and it failed to receive a record of the takeover of the leased asset; acting contrary to the provisions of Article 57(3) of the Leasing Act (Official Gazette, No 141/13), as after the termination of the financial lease agreement due to the non-delivery of the leased asset by the supplier, it charged the lessee with the fee that they would be required to pay under the leasing agreement after the delivery of the leased asset even though the delivery of the leased asset was not carried out, and activated the means of payment insurance for the purpose of enforcing the payment of the fee, and did not refund the fee the lessee had paid under the lease agreement
  1. Decision granting approval to the company CGS Capital d.o.o. za osnivanje i upravljanje alternativnim investicijskim fondovima, with its registered office in Zagreb, Miramarska cesta 24, OIB: 28282983081, LEI: 7478000090B0D0M0O02861903164619, to operate as a medium-sized AIFM, namely to carry out activities referred to in Article 11(1)(1) of the Alternative Investment Fund Act (Official Gazette, No 21/18, 126/19 and 110/21) - management of AIFs; revoking the Decision CLASS: UP/I 972-02/20-01/04, REGNO: 326-01-22-20-16 of 14 May 2020, issued to the company CGS Capital d.o.o. za osnivanje i upravljanje alternativnim investicijskim fondovima, with its registered office in Zagreb, Miramarska cesta 24, OIB: 28282983081, item 1 approval to operate as a large AIFM, namely to carry out activities referred to in Article 11(1)(1) of the Alternative Investment Fund Act (Official Gazette, No 21/18 and 126/19) - management of AIFs
  1. Decision determining that the authorisation to conduct insurance distribution business issued on 7 June 2013 to Mario Šurina from Zagreb, Mlinarska cesta 12, OIB: 02576167241, owner of the craft ANIMA obrt za zastupanje u osiguranju, Mario Šurina, Zagreb, Mlinarska cesta 12, by virtue of the Decision by the Croatian Financial Services Supervisory Agency CLASS: UP/ I-453-02/13-01/36, REGNO: 01-660-663-13-2, ceased to be valid on 1 January 2021
  1. Decision determining that the authorisation to conduct insurance distribution business issued on 14 December 2016 to the company DARIN društvo s ograničenom odgovornošću za zastupanje u osiguranju u likvidaciji, with its registered office in Rijeka, Fiorella La Guardia 27, OIB: 90088330268, by virtue of the Decision by the Croatian Financial Services Supervisory Agency CLASS: UP/I-453-06/06-03/38, ceased to be valid on 12 February 2021
  1. Decision determining that the authorisation to conduct insurance distribution business issued on 9 December 2021 to the company FLUMEN društvo s ograničenom odgovornošću za zastupanje u osiguranju u likvidaciji, with its registered office in Rijeka, Save Vukelića 21, OIB: 46185632514, by virtue of the Decision by the Croatian Financial Services Supervisory Agency CLASS: UP/I 974-03/21-01/111, REGNO: 326- 326-22-21-4, ceased to be valid on 27 May 2022
  1. Decision determining that the authorisation to conduct insurance distribution business issued on 10 September 2020 to Miro Stolić from Knin, Josipa Kosora 3, OIB: 06484492123, owner of the craft Euro Trust, obrt za zastupanje u osiguranju, Miro Stolić, Knin, Josipa Kosora 3, by virtue of the Decision by the Croatian Financial Services Supervisory Agency CLASS: UP/I 974-03/20-01/70 REGNO: 326-01-22-20-3, ceased to be valid on 17 February 2022
  1. Decision determining that the authorisation to conduct insurance distribution business issued on 15 December 2015 to Igor Vranić from Velika Gorica, 114C, Zagrebačka 43, OIB: 3792705657, founder of the craft AZ VRANIĆ, obrt za zastupanje u osiguranju, vl. Igor Vranić, Velika Gorica, Zagrebačka ulica 43, by virtue of the Decision by the Croatian Financial Services Supervisory Agency CLASS: UP/I 974-03/15-01/192, REGNO: 326-01-660-663-15-2, ceased to be valid on 7 March 2022
  1. Decision determining that the authorisation to conduct insurance distribution business issued on 18 March 2016 to Jadranko Bundović form Bjelovar, Ivana Viteza Trnskog 20, OIB: 53088766919, owner of the craft AZ Bundović, obrt za zastupanje u osiguranju, Jadranko Bundović, Bjelovar, Ivana Viteza Trnskog 20, by virtue of the Decision by the Croatian Financial Services Supervisory Agency CLASS: UP/I 974-03/16-01/29, REGNO: 01-660-663-16-4, ceased to be valid on 2 May 2022
  1. Official position on the application of the Insurance Act (Official Gazette, No 30/15, 112/18, 63/20, 133/20) regarding authorisation to pursue insurance distribution business
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