Bulgaria's Parliament Approves Deputy FinMin as Head of Finance Watchdog

Karina Karaivanova has been approved by Bulgarian lawmakers as the next head of the country's Financial Supervision Commission.

Karaivanova, until now Deputy Finance Minister, has been backed by an overwhelming majority of 139 MPs, out of 174 present at the vote.

Only 20 votes, out of 24 "against" (the others being abstentions) come from the Bulgarian Socialist Party (BSP), the biggest opposition force in Parliament.

Karaivanova was the only contender for the post. Debates on her appointment lasted nearly an hour and thirty minutes.

Karaivanova earlier said she would seek a financial audit on the institution and would focus on an evaluation of assets in pension insurance companies immediately after her appointment.

The FSC seeks to ensure the stability and transparency of the non-banking financial sector and oversee the protection of consumers of financial services and products.