The European Federation of Financial Services Users (EuroFinuse), of which the PanSlovenian Shareholders' Association (VZMD) is an active member, supports the efforts and initiative of MEP Sven Giegold in the framework of the project »Dangerous Financial Products«, which calls on individuals, organizations, businesses and professionals to participate in the search for the most dangerous financial product through the web portalhttp://www.dangerous-finance.eu.

More information on the invitatioin and participation opportunities can be found in the letter below or on the given web link.  

Dear friends, dear colleagues,

I would like to start this year with an interesting project I need your help with. Europe is searching for the most dangerous financial product.

During their establishment in 2011 the new European Supervisory Authorities were given the power to ban certain financial products from the markets. However, this new power has not been used even though it is known that many products are dangerous. Nonetheless, at least the practice of naked short selling could be banned following an initiative of the European Parliament under the surveillance of a Green drafts person by special European legislation.

Some products are opaque and complex and thus threaten consumer protection with concealed risks and high costs. They harm third parties such as the global poor, particularly in developing countries by speculation with food and land. They put the stability of the financial system and sustainable development at risk because in some cases they cannot even be sufficiently analysed by financial markets experts or regulators and because they exacerbate price volatilities (also for currencies, credits, etc.). Other financial products might harm the environment by investments in non-sustainable industries or resource consumption. They might also endanger development policy by channeling funds through tax havens which has severe consequences for much needed revenue, in particular in the developing world but also in Europe.

Therefore, we are launching a competition to find the most harmful and dangerous financial product traded on the marketsand want to create publicity and raise awareness.With your input and the help of an expert jurythe most dangerous financial product shall be determined and brought to the attention of the supervisory authorities. We then expect them to scrutinize the product and limit its application or ban it totally from the markets if necessary.

We are happy to receive contributions from citizens, organisations, corporations, consumer advocats and financial markets experts via our online platform (http://www.dangerous-finance.eu). All proposals can be discussed in a public forum after expiration of thedeadline of submissionson15 February 2013on this website. Subsequently, a jury of experts will analyse and rate all proposed products. In a public vote one out of three very harmful financial instruments nominated by the jury will be elected the "winner".

You can join the competition and debates here:

http://www.dangerous-finance.eu

I am looking forward to receiving your submissions and to holding constructive debates - let's work together to make 2013 the year in which the interests of people in developing countries, consumers and our planet prevail over badly regulated financial markets.

In co-operation,

Sven Giegold

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image005 1On Tuesday, 8 January 2013, the Acting Director General of the International Center for Promotion of Enterprises (ICPE), Mr. Janez Podobnik and the president of the PanSlovenian Shareholders' Association (VZMD), mag. Kristjan Verbič signed a Memorandum of cooperation between the two institutions, with which synergetic effects and cooperation on a wider international market will be additionally strengthened. The Memorandum was signed as part of the efforts for further successful and closer cooperation between ICPE and the international investor programs invest to Slovenija (investo.si) and International Investors' Network (investo.international), while there are additional options of expanding the international activities of VZMD also as part of the plans and presence of ICPE in Africa, Asia and South-East Europe.

The aim of cooperation is to develop common content through which alliances between ICPE member states and VZMD as well as between international organizations, of which VZMD is an active member (World Federation of Investors – WFI and European Federation of Financial Service Users - EuroFinuse), and their member states (55 national organizations of shareholders and investors). The emphasis is on the areas of active shareholding, education, strengthening entrepeneurship, investments and social responsibility. (To view investo.tv's video report from the recent international conference ICPE and KEN network about the Benefits and Challenges of Public-Private Partnerships for Improving Energy Efficiency, click the picture to the right).

The program investo.si was established in 2008 by VZMD, prior to the first investor conference and the »investo Expo« convention in Ljubljana. Since then, they have arranged notablepresentations of business opportunities in Belgium, Bolgaria, Brazil, France, Holland, Libanon, Luxemburg, Germany, Poland, Slovenia, Spain, Turkey and Great Britian for their members, while strong presence in the international investment market on similar conventions, conferences and presentations is expected to continue also in the future (you are welcome to view video reports on www.vzmd.tv andwww.investo.tv).

In 2012 the international investment programs investo.si and invest-to.net, among other events, organized the World's Largest Meeting of Investors' Representatives: »Investors' Week«, during which Ljubljana's Cankar hall also hosted the international investor conference and the »investoExpo« convention. The meeting of over one hundred investors' representatives from 55 countries, which was supported by the European Comission, was organized by the PanSlovenian Shareholders' Association (VZMD) together with the international associations of shareholders and investors EuroFinuse, Euroshareholders and the World Federation of Investors (WFI), which only in Europe directly represent over 4 million individual investors.

VZMD invites all companies, institutions, communities and individuals to take advantage of the opportunity to participate and include their informative and promotional material and investment projects on the web portals, literature and happenings at the many anticipated opportunities in the year 2013:

  • BAKU – visit of business delegation, during the visit of the Prime Minister of Slovenia, Janez Janša with the President of the Republic of Azerbaijan, dr. Ilham Alyev, January 2013,
  • PERU, CHILE – visit of EU business delegation with the Vice President of the European Commission Antonio Tajani during the EU-Latin America Summit (in confirmation process),
  • LONDON – Conference of European Banking Authority (EBA), January 2013 (in confirmation process),
  • BRUSSELS – International Conference of the European Confederation of Directors' Associations (ecoDa), EuropeanIssuers and the Association of Chartered Certified Accountants (ACCA), February 2013 (in confirmation process),
  • BRUSSELS – International Investors' conference and General Assembly of the European Federation of Financial Services Users (EuroFinuse), March 2013,
  • LJUBLJANA – "Kapital" convention, April 2013,
  • LJUBLJANA – Slovene Capital Market Days 2013, April 2013,
  • PARIS – OECD Forum, May 2013,
  • International Investors' Conference, June, 2013 (in confirmation process, to be held in one of the EU countries),
  • MADRID – International Investors' Conference and the General Assembly of the World Federation of Investors (WFI), September 2013,
  • LJUBLJANA – Ljubljana Forum, October 2013,
  • LJUBLJANA – FDI Awards, November 2013,
  • VIENNA – International Investors' Conference, date not yet determined (in confirmation process),
  • Annual conference of the Slovenian Association for Quality and Excellence, date and location not yet determined.

Thus, after successful the presentations and activities of 2012:

BLED – International conferences "India and Slovenia as Business Partners" and "CloudForum", March 2012,

BRUSSELS – International Conference at the Brussels Stock Exchange, March 2012,

LJUBLJANA – Visit of International Monetary Fund (IMF) representative responsible for the area of International Capital Market Regulation, Richard Britton, at the VZMD headquarters, April 2012,

BLED – International conference "Bled Forum", April 2012,

LJUBLJANA - "Kapital" convention and Slovene Capital Market Day 2012, April 2012, LJUBLJANA – International conference "Africa Day", organized by the International Center for Promotion of Entrepeneurship (ICPE), the Slovenian Association for International Relations (SDMO), and the Ministry of Foreign Affairs of the Republic of Slovenia, May 2012,

MARIBOR – International conference Knowledge Economy Network (KEN) 2012, June 2012,

SAO PAOLO – Visit of business delegation during the visit of the Deputy Prime Minister mag. Radovan Žerjav, June 2012,

BLEDBled Strategic Forum and Business lunch with the Secretary- General of OECD, Jose Angel Gurria, September 2012,

LJUBLJANA – World's Largest Meeting of Investors' Representatives "investors' Week", international investors' conference "investo Expo" and a conference on educating financial services users, September 2012,

LJUBLJANAMayor's reception and award ceremony of Euroshareholders and VZMD award "Shareholders' Friendly Company", September 2012,

PTUJ – Slovenian Development Days on International Development Cooperation and a business conference on International Integration of Local Entrepreneurship, October, 2012,

LJUBLJANAInternational Conference on Benefits and Challenges of Public Private Partnerships for improving Energy Efficiency, October 2012,

PORTOROŽ - Slovenian Association for Quality and Excellence (SZKO) awards ceremony, November 2012,

BRUSSELS – "European Public Affairs Awards" award ceremony, November 2012,

LJUBLJANA – roundtable discussion "The Future of the Eurozone" with Maria João Rodrigues, Special Advisor to the European Commission, November 2012,

WIESBADEN – International Investors' Conference, December 2012,

VZMD would like to invite companies and institutions to continue to participate in and benefit from the opportunities offered by the programs investo.si and investo.international in 2013 and also participate in all upcoming opportunities and events. Membership in the above mentionedinternational programs enables companies, institutions and projects, for which they require partners or investors to be seen on both web portals (in English), the production and use of professional video materials from www.vzmd.tv and www.investo.tv, the inclusion of informative and promotional materials at important investor conventions, meetings of representatives of national and trans-national organizations of investors and shareholders,the possibility of active representation in individual countries or environments, presentation in the commemorative magazine"investo Expo", promotional leaflets, folders, etc.

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The representatives of VZMD and investo.tv prepared an exclusive interview with the Head of Division of the OECD Economics Department, Mr. Pierre Beynet, together with a video report about current Slovenian problems, privatization and withdrawal of the Slovenian State and politics from major State-owned companies. Respected international guest attended conference on "Withdrawal of the Slovenian State & politics from major State-owned companies", organized in Ljubljana by Academic Association Lawyer.

At the conference, round table titled "The Government's strategy and foreign examples and recommendations" also took place. At this round table, the President of VZMD and EuroFinuse Board Member, Mr. Kristjan Verbič, M.Sc., within the framework of the efforts for the programsInternational Investors' Network invest-to.net and invest to Slovenia investo.si also actively participated.

During the discussion, Mr. Verbič set a question to the Minister of Finance of the Republic of Slovenia, Mr. Janez Šušteršič, Ph.D., to the Head of Division of the OECD Economics Department, Mr. Pierre Beynet, and to the Vice-President of Atlas Economic Research Foundation, Mr. Tom G. Palmer, Ph.D., about possibility of public offering of State-owned shares of most important Slovenian companies and participation of citizens – at least at the first round of intended privatization – maybe with appropriate fiscal stimulation and in the light of the pension reform.

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After International Investors' Conference titled "Shareholder Value meets Sustainability", organized by German Shareholders' Association (DSW) and European Federation of Financial Services Users (EuroFinuse) in Wiesbaden, Mr. Kristjan Verbič, M.Sc., the President of VZMD – PanSlovenian Shareholders' Association, actively participated at Euroshareholders General Assembly, EuroFinuse General Assembly and Joint EuroFinuse and Euroshareholders General Assembly that follow conclusions of the Ljubljana declaration. The Declaration, adopted at Septembers' General Assemblies in Ljubljana, has brought and outlined the process of merger (with January the 1st, 2013) of two European associations, which protect rights and interests of shareholders, investors, and financial services users, comprising 50 national organizations that represent over 4 million individual shareholders and investors. (To view VIDEO REPORT about Ljubljana declaration, click on the left picture)

At this opportunity VZMD in Wiesbaden, for the third time in last five years, among others successfully presented investment opportunities and potential of Southeastern Europe's economy, companies and institutions that are part of International Investors' Network investo.net and invest to Slovenia – investo.si program. At this opportunity VZMD invites all institutions, companies, and individuals from Slovenia and worldwide to take advantage of this program to expand and realize their interests and business plans.

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After notable International Conference on "The future of European Equity Markets", which was organized last week at the Milano Stock Exchange by pan European organization, created to promote the interests of issuing companies – EuropeanIssuers, and association of Italian joint stock companies – Assonime, Mr. Kristjan Verbič, M.Sc., the President of the VZMD – PanSlovenian Shareholders' Association, actively participated at the International Investors' Conference titled "Shareholder Value meets Sustainability". The Conference was organized in Wiesbaden by German Shareholders' Association (DSW) and European Federation of Financial Services Users (EuroFinuse).

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Within the framework of the efforts for the programs International Investors' Network – invest-to.net and invest to Slovenia – investo.si, Mr. Verbič met with numerous respected guests and speakers, among others with Manuel Soto Serrano, Vice-president and member of  Board of Santander Bank (headquarters of which the President of VZMD visited last year, when he discussed with the bank's President, Don Emilio Botin), Jeroen Hooijer, European Commission representative – Head of unit for Corporate governance, social responsibility, Sven Giegold, Member of European Parlament, Steven Maijoor, President of ESMA, and numerous representatives, advisors and analysts of companies like Allianz Global Investors, Blackrock, Union Investment, F&C, Railpen Investments, Hostettler, Kramarsch&Partner, BT Pensions Scheme, MN Services, Henkel, K+S, APG. 

This year's Conference included interesting panels and keynote speeches: "What can we further expect from the EU-Commission with regard to Corporate Governance?", "Why we need sustainable corporate management-future viability as a condition of economic success?", "What is sustainability good for? – the companies & investors' view", "Supervising the capital markets in Europe – a progress report", "EuroFinuse Report on ‘The research findings on the real return of private pensions", "Sustainable pay for directors – do we need any limits?", "The Pfizer case – how non sustainable behavior can harm the shareholders?", "How can we turn to a long term sustainable approach in investment? Discussion on the UK Kay review" and "Incentives for a long term approach by new remuneration structures for asset managers".

At this important international conference, VZMD representatives once again successfully presented investment opportunities and potential of Southeastern Europe's economy, companies and institutions that are part of investo.net program. At this opportunity VZMD invite all institutions, companies, and individuals from Slovenia and worldwide to take advantage of this program to expand and realize their interests and business plans.

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At the Milano Stock Exchange last week the International Conference on "The future of European Equity Markets" was taking place. It was organized by pan European organization, created to promote the interests of issuing companies – EuropeanIssuers, and association of Italian joint stock companies – Assonime. Mr. Kristjan Verbič, M.Sc., the President of the VZMD – PanSlovenian Shareholders' Association and Board Member of EuroFinuse – European Federation of Financial Services Users, along with the investo.tv film crew actively participated at the conference.

Within the framework of the efforts for the programs invest to Slovenia – investo.si and International Investors' Network – invest-to.net, Mr. Verbič met with numerous respected guests and speakers, among others with Vittorio Grilli, Italian Minister of Economy and Finance, Massimo Tononi, Chairman of Borsa Italiana, Didier Lombard, Chairman of EuropeanIssuers, Emil Paulis, Director of Financial Markets at European Commission, Xavier Rolet, CEO of London Stock Exchange, Laurent Degabriel, Head of Investment and Reporting Division at ESMA, Andrea Beltratti, Chairman of Management Board of Intesa Sanpaolo, and Dominique Senequier, CEO of AXA Private Equity. At this important international conference, VZMD representatives once again successfully presented investment opportunities and potential of Slovenian economy, companies and institutions that are part of investo.si program.

Following numerous successful presentations of Slovenian enterprises and business environment at home and abroad, VZMD is further intensifying its efforts under investo.si program, and is preparing one more presentations for the International Investors´ Conference in Wiesbaden on 4 December.

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After a successful and high-profile international investors' conference and exposition "investo Expo" – which was organized within the "investors' Week" by PanSlovenian Shareholders' Association (VZMD) in Ljubljana Cankar Hall (Cankarjev dom) – investo.tv publishes the full clip of the 3th panel, entitled »Euro and Eurobonds in the Global Context - The Role and Perspective of Banks and Financial Systems«. The panellists were: France Arhar, Ph.D., Director of Slovenian Banking Association, Matjaž Gantar, M.Sc., Chairman of The Board of The KD Group, Keith Miles, President of the British-Slovene Society and respected international economist, Agnes Le Thiec, Director of Capital Markets Policy at CFA Institute, and Jean-Pierre Paelinck, Ph.D., President and Secretary General of World Federation of Investors(WFI).

Similar discussion was also presented on investo.tv after round table »The Future of the Eurozone«, where EU counselor for economic policies, Mrs. Maria João Rodrigues, presented her views and alternatives and provided answers to some of most relevant and pressing issues in the conversation with the EuroFinuse & Eurosharholders Board member and President of VZMD – PanSlovenian Shareholders' Association, Mr. Kristjan Verbič, M.Sc. (click here to watch the whole exclusive interview)

Following numerous successful presentations of Slovenian enterprises and business environment at home and abroad, VZMD keeps to intensify its efforts under investo.si program and is preparing presentations for International Conference on the future of European Stock Markets at the Milan Stock Exchange on the 28th of November, and the International Conference in Wiesbaden on the 4th of December 2013.

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EU counselor for economic policies, Mrs. Maria João Rodrigues, has presented her views and alternatives and provided answers to some of most relevant and pressing issues in the conversation with the EuroFinuse & Eurosharholders Board member and President of VZMD – PanSlovenian Shareholders' Association, Mr. Kristjan Verbič, M.Sc. The main focus of the conversation was exclusively placed on investo.tv, and the conversation took place after the »The Future of the Eurozone« round table, which was organized by the Slovenian Association for International Relations (SDMO), Friedrich Ebert foundation (FSE) and Euro-Altantic Council of Slovenia (EASS), and took place in Grand Hotel Union in Ljubljana where VZMD representatives participated to boost the endeavors under the invest to Slovenia – investo.si program and the International Investors' Network – invest-to.net.

Jože Mencinger, professor at the Facultly of Economics, Mitja Gaspari, former Finance minister and (former) Governor of the Bank of Slovenia, Igor Masten, professor at the Facultly of Economics and Damjan Kozamernik, Head of the Analytics and Research Center at the Bank of Slovenia joined the prominent guest in the discussion.

Following numerous successful presentations of Slovenian enterprises and business environment at home and abroad, VZMD is further intensifying its efforts under investo.si program, and is preparing presentations for "European Public Affairs Awards" award granting to be held in Brussels on 14 November, International Conference on the future of European Stock Markets at the Milan Stock Exchange on 28 November, and the International Conference in Wiesbaden on 4 December.

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After a successful and high-profile international investors' conference and exposition "investo Expo" – which was organized within the "investors' Week" by PanSlovenian Shareholders' Association (VZMD) in Ljubljana Cankar Hall (Cankarjev dom) – investo.tv publishes the full clip of the 4th panel, entitled "Barriers to Shareholders Engagement - Report on Cross-border Proxy Voting". The panellists were: Guillaume Prache, Managing Director of EuroFinuse, Susannah Haan, Secretary General of EuropeanIssuers, Christane Hoelz, Director North-Rhine Westfalia of DSW and Henning Wegener Managing Director of AMEC.

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image001 1EuroFinuse, the European Federation of Financial Services Users, in which PanSlovenian Shareholders` Association - VZMD collaborates as an active member and is represented in the Board of Directors by its President Mr. Kristjan Verbič, M.Sc., welcomes Consultation from the European Commission on Undertakings for Collective Investment in Transferable Securities (UCITS) – Long-Term Investments. They focus their response to the consultation on the part of long-term investments that are crucial for individual shareholders and retail investors, who they represent (for further information click the picture above).

EuroFinuse is shortlisted for the 2012 European Public Affairs Awards. You can support them by casting your vote here!

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