Bulgarian Financial Supervision Commission and its Serbain counterpart, the Securities Commission have agreed upon regulation and further co-operation between the two countries' financial markets.

Apostol Apostolov, head of Bulgarian Financial Supervision Commission, and Milko Stimac, head of Serbian Securities Commission, signed a memorandum of understanding in Sofia on October 7.

The signing of the memorandum meant that the Bulgarian and Serbian regulating institutions for the financial markets established official co-operation, Serbian B92 reported.

The co-operation would enable market expansion and a higher degree of safety for investment company clients.

The two institutions will now work to prevent financial crime, such as money laundering, B92 said.