The brokerage company Apex Securities, owned by Nikola de Frankopan, is the first brokerage company that has collapsed due to the crisis. Due to a complaint, a Croatian Agency for Supervision of Financial Services (HANFA) inspection found the Apex Securities premises empty and locked.

After discovering that Apex no longer had any authorized brokers, since Sanja Manojlović left the company, and that the owner is out of Croatia, HANFA preventively decided to ban Apex Securities from managing the accounts of 694 of their clients for one month. HANFA’s decision was induced by the fact that the reduced traffic of the Zagreb Stock Exchange has caused financial problems for a great number of brokerage companies, causing delays in employee salaries and a reduction in the work force. In time and with continual supervision of the company, HANFA will be able to determine further steps. Unlike the Croatian National Bank, HANFA cannot appoint a temporary administrator of the company because the legal framework for brokerage companies is the Company Law.Šulenta concluded, “clients have been protected and after a formal investigation we will make a decision on how to proceed”. Asked to comment on how the crisis influenced Funds in their ownership, Luis de Frankopan, answered that they have sold their Fund management company NFD Capital (formerly Apex Capital), and that they have no intention of selling their remaining portfolio investments, which are exclusively real estate and with which they are extremely satisfied.