Hanfa Board Members discuss capital market development, regulatory trends and financial literacy at the “Challenge of Change” conference
Members of the Board of the Croatian Financial Services Supervisory Agency (Hanfa) took part in the traditional “Challenge of Change” conference, held in Poreč from 7 to 9 October 2026 and organised by the Zagreb Stock Exchange and the Association of Pension Companies and Pension Insurance Companies. The conference brought together representatives of the financial sector, regulators and the professional community to discuss capital market development, regulatory challenges, new investment trends and financial literacy.
In her opening remarks, Anamarija Staničić, Deputy President of Hanfa’s Board, highlighted that conditions in the Croatian capital market are considerably more favourable today than they were ten or fifteen years ago. Alongside market growth, she emphasised the importance of the return of market activity and new issuances, as well as the fact that companies are once again recognising the capital market as a source of financing for their development. This is supported by stronger economic fundamentals, more stable public finances, growth in assets under management and a gradual return of citizens’ interest in investing.
“Today, we have legitimate reasons for optimism. I use the word optimism deliberately, rather than euphoria,” she noted, while also stressing the importance of recognising market risks, which remain present even when market indicators are strongly positive. The Croatian market is part of the global financial system and is exposed to international market cycles. Among the key challenges, Staničić singled out the need to strengthen long-term public trust in the capital market. “The real challenge is not how to bring citizens to the capital market. The real challenge is how to keep them in the capital market throughout market cycles,” she said.
The conference also featured a panel discussion “Compliance, Regulatory Trends and Capital Market Supervision”, where Jurica Jednačak, a Member of Hanfa’s Board, joined other participants in discussing financial market development, the regulatory framework and emerging challenges for market participants. During the discussion, he addressed European capital market integration, regulatory burden reduction, new compliance requirements and the growing use of artificial intelligence in financial services.
“We need to reduce duplication of data, eliminate ambiguities and shorten procedures, while preserving the information that enables investors to understand risk and have confidence in the market,” Jednačak stated. He also emphasised the need for a regulatory framework that balances investor protection with easier access to capital. From Croatia’s perspective, further integration of European capital markets is especially important, as it can provide domestic companies with easier access to European investors and offer Croatian investors a wider range of investment opportunities.
The second day’s programme included a panel discussion “Financial Literacy: Knowledge, Responsibility and Decisions for Financial Well-Being”, featuring Martina Verić, a Member of Hanfa’s Board. The discussion focused on financial and pension literacy, personal responsibility for financial decision-making, and ways to encourage citizens, particularly young people, to take a more active role in planning their financial future.
Verić referred to the various financial literacy initiatives undertaken by Hanfa and stressed the importance of personal responsibility and timely financial planning. “It is important to encourage citizens to think about their financial future in a long-term and proactive manner, and to become more aware of the opportunities at their disposal. “Voluntary pension savings can play an important role in strengthening long-term financial security,” Verić noted.
The presentation delivered by Anamarija Staničić is available here.
Photo: Niko Goga
