Coercive Administrative Measures Applied in Financial Legal Relations According to Bulgarian Legislation
Coercive Administrative Measures Applied in Financial Legal Relations According to Bulgarian Legislation

Author(s): Antoniya METODIEVA
Subject(s): National Economy, Economic policy, Law on Economics, Socio-Economic Research
Published by: ADJURIS – International Academic Publisher
Keywords: coercive administrative measures; legality; money laundering; financial legislation;
Summary/Abstract: The report examines the enforced administrative measures applied in financial legal relations according to Bulgarian legislation. The enforced administrative measures are considered as a form of state coercion for the fulfillment of obligations arising from financial legal norms and the principles they should be based on. A definition of enforced administrative measures according to Bulgarian legislation is provided. The principles of legality, proportionality, restrictive interpretation of the substantive legal provisions in their application, and actions of the administrative body in conditions of bound competence are examined. The main role of these measures in preventing, stopping, or removing the harmful consequences of administrative violations is analyzed, as well as their specific goal of eliminating the administrative violation and its consequences, rather than sanctioning the violator, and their effect over time. The specific enforced administrative measures that are legislatively regulated in Bulgarian financial laws, such as the sealing of a commercial establishment and others, the supervisory measures imposed by the Bulgarian National Bank, the deadlines for their judicial contestation, and the competent court before which the complaint is filed, are studied. The enforced administrative measures in money laundering, such as measures for the prevention of the financial system, are considered. Current judicial practice of Bulgarian courts in contesting enforced administrative measures through judicial proceedings is cited.

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