The Financial Supervision Commission (FSP) was established on 1 March 2003 under the Financial Supervision Commission Act.  The institution is independent from the executive authority and reports its activity to the National Assembly of the Republic of Bulgaria.

The Commission is a specialized government body for regulation and control over the financial system, which unifies the regulatory functions that used to be carried out by the former State Securities Commission, the State Insurance Supervision Agency and the Insurance Supervision Agency.