POSITION AND AUTHORITIES OF THE CROATIAN FINANCIAL SERVICES SUPERVISORY AGENCY IN CORPORATE TAKEOVERS

U radu se analiziraju položaj i uloga Hrvatske agencije za nadzor financijskih usluga u postupku preuzimanja dioničkih društava. Autor detaljno analizira ulogu i položaj HANFE u predponudbenom, ponudbenom, postponudbenom periodu. Također, daje se povijesni i kronološki pregled nastanka Hrvatske agencije za nadzor financijskih usluga. Obrađuje se postupak preuzimanja dioničkih društava ukazujući na otvorena pitanja u provođenju ovoga postupka. Naglašavaju se dobre i loše strane uređenja i djelovanja Hrvatske agencije za nadzor financijskih usluga te se zaključno daje kritički osvrt na rad ovog nadzornog i regulatornog tijela.The paper analyzes the position and authorities of the Croatian Financial Services Supervisory Agency in the corporate takeovers. The author analyzes in detail the role and position of the Croatian Financial Services Supervisory Agency in the pre-bid, bid and post-bid period. Furthermore, the historical and chronological overview of the origins of the Croatian Financial Services Supervisory Agency is presented. The author analyzes takeover procedure pointing out open issues in the implementation of this procedure. Also, the strengths and weaknesses of the Croatian Financial Services Supervisory Agency are emphasized. In conclusion, the author gives a critical review of the work of this supervisory and regulatory body