At the session held on 18 December 2013, Croatian Parliament adopted the Amendments to the Capital Market Act allowing for further harmonization of the regulatory framework with established EU standards.
One of the most prominent changes is the abolishment of the obligatory OTC transactions reporting to the Zagreb Stock Exchange in case financial instruments listed to the regulated market are traded between non-residents. According to the amended Article 341.a, if the buyer in the OTC transaction is not based in the Republic of Croatia, the OTC transaction shall be reported by the seller in the subject transaction, if seller is based in the Republic of Croatia.
Impact on investors: Obligatory OTC transactions reporting for non-resident investors abolished as of 1 January 2014.
Related Newsflashes: NEWSFLASH CROATIA – OTC Transactions Reporting coming into force as of 12 July 2013