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Until the end of the week, Malta will be hosting the annual meeting of the European Federation of Investors and Financial Services Users (Better Finance), which began yesterday with the meeting of the Legal Committee of Better Finance. At the latter, the PanSlovenian Investors’ & Shareholders’ Association (VZMD) President, Mr. Kristjan Verbič, was kindly asked to present  the conditions and ramifications of inclusion of the Slovenian Central Securities Clearing Corporation (KDDinto the T2S Settlement Platform. Exactly this is about to incur new and disproportionate costs for shareholders, which, according to the assurances of the relevant Slovenian decision-makers, supervisors and financial industry, is recognized throughout Europe, but which is obviously not true. Each and everymember of the Legal Committee of Better Finance (reputable legal experts from Austria, Belgium, Denmark, France, Germany, Great Britain, Italy, Spain and Sweden) was extremely shocked to hear about the conditions and circumstances regarding minority shareholders in Slovenia, and  they were especially surprised at the practices regarding the compensations for the dividend payout, of which they first heard from Mr. Verbič.

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After the PanSlovenian Investors' & Shareholders' Association (VZMD), upon adoption of the altered Act on book-entry securities (ZNVP-1), made persistent and  informed efforts to point out to the adverse effects of abolishing free-of-charge registry accounts of the securities belonging to natural persons, over the past few months, the association has come to the conclusion that “in fact there is an outbreak of extortionate practices conducted by the financial industry, with which the dividend payout turned into transactions which do not imply any income for the minority shareholders, but net expenses, despite being treated as an income in all property calculations and exercise of social rights. To regulate untenable, unlawful and detrimental actions, we have addressed an appeal to the National Assembly for an additional Authentic interpretation of the Act”, was how Mr. Kristjan Verbič remarked on the letter to legislator.

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The European Federation of Investors and Financial Services Users (Better Finance), whose active member is also the PanSlovenian Investors' & Shareholders' Association (VZMD), announced that Ms. Christiane Hölz will represent Better Finance and their German member organization DSW at the Commission Expert Group on Technical Aspects of Corporate Governance Processes. The group consists of 12 members and was set up by Commission’s Directorate-General for Justice and Consumers ("DG JUST) at the European Commission.

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Yesterday, Cankarjev dom (CD Hall) in Ljubljana hosted the concluding activities of the three-day international investment conference "Investment opportunities in Slovenia" and parallely a fair, which took place in the CD Hall (VIDEO: www.youtube.com/watch?v=iVUTS6ASKxE). As part of the conference agenda, the PanSlovenian Investors' & Shareholders' Association (VZMD) presented its international business-investor programs Invest to Slovenia (investo.si) and International Investors' Network (invest-to.net).

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Last week, the international conference of The World Federation of Investors (WFI) "Investor Education for Life Time Financial Security" and the annual meeting of WFI and European Association for Share Promotion (EASP) took place in Stockholm. In the morning, the guests were addressed by Mr. Erik Thedeen, Director General of Swedish Financial Supervisory Authority; later on, the presentations and lectures took place, among others on the research regarding financial literacy and financial education conducted at the University of Turin, on the role of the European Securities and Markets Authority (ESMA) and other individual national competent agencies in improving financial literacy, as well as the individual cases of financial literacy programs in various countries.

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The VZMD (PanSlovenian Investors' & Shareholders' Association) warns that one year after the European Court of Justice in Luxembourg had issued the ruling and two months past the deadline, by which the authorities and the legislators were bound to eliminate the unconstitutional restriction of rights to effective judicial relief of wiped out investors in Slovenian banks, there is simply no indication that this would occur within a reasonable time. Why do the authorities in the Republic of Slovenia keep dragging their feet? Are they really planning on shifting the burden of the defendant to the Republic of Slovenia and thus additionally encumbering all citizens and compelling the entire system of government to defend the illegal actions of the responsible persons at the Bank of Slovenia?!

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The Sunday evening reception in Washington, D.C. marked the beginning of the 30th World Congress of the International Union for Housing Finance (IUHF). The congress creates a unique opportunity for learning about different social models and challenges in funding of housing construction around the world, and offers an opportunity for networking with the representatives of governmental institutions, businesses, NGOs and other entities related to investors and housing infrastructure funding.

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Today an international conference “Joint ESAs Consumer Protection Day 2017” is taking place in Prague, opened by the president of the board of European Supervisory Authorities (ESA) and the European Banking Authority (EBA) Andrea Enria and the Member of the European Parliament Sven Giegold. The important conference was organised by the joint board of ESA, comprised of ESMA - European Securities and Market Authority, EIOPA - European Insurance and Occupational Pensions Authority, and the EBA.

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On Tuesday, the Slovenian business delegation, organised by the Ministry of Foreign Affairs, SPIRIT Slovenia, and the Slovenian Tourist Board in cooperation with the Embassy of the RS in Ottawa, the Embassy of Canada in Slovenia and the Canadian Slovenian Chamber of Commerce in Toronto arrived in Canada on the occasion of the 25th anniversary of the establishment of diplomatic relations between Slovenia and Canada.

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Next week will mark the beginning of the jubilee 50th tour of the international business-investor programs of the VZMD Invest to Slovenia (investo.si) and International Investors` Network (invest-to.net), as part of which the VZMD President, Mr. Kristjan Verbič, will visit Toronto, Ottawa and Washington. As a member of the Slovenian economic delegation led by the Ministry of Foreign Affairs and Minister for Slovenians Abroad, Mr. Gorazd Žmavc, Mr. Verbič will take part in B2B talks between Slovenian and Canadian business persons and the Canadian-Slovenian tourism and the economy forum in Toronto. Moreover, Mr. Verbič will meet with the President and CEO of the investment management firm Rocklinc Investment Partners Inc., Mr. Jonathan M. Wellum, and, in Ottawa, the members will attend the event Ottawa Welcomes the World 2017 celebrating the 150th anniversary of the Canadian confederation, where Slovenia will have a dedicated exhibition area.

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