VZMD has obtained an independent legal opinion from Prof. Dr. Verica Trstenjak, former Advocate General at the Court of Justice of the EU in Luxembourg, member of the Administrative Board of Review at the European Central Bank (ECB) in Frankfurt, a distinguished professor at the Universities of Vienna, Salzburg, Innsbruck, Ljubljana, and Maribor, and one of the foremost legal authorities in the EU and the Republic of Slovenia. Prof. Dr. Verica Trstenjak thoroughly examined all the claims from the collective compensation lawsuits against telecommunications operators and confirmed VZMD's arguments that the contractual terms allowing operators to unilaterally change prices are not in line with EU law. As a result, these price changes should not be enforced – VIDEO: https://youtu.be/IzpoHs-pAV0.

As of October, Mr. Kristjan Verbič, the VZMD President, has commenced a new three-year term at the European Securities and Markets Authority (ESMA), this time serving on the Consultative Group of the Investor Protection Standing Committee (IPSC). The IPSC has been established to develop and implement ESMA's strategic objectives concerning retail/private investors, ensuring horizontal coordination and alignment of all ESMA activities related to investor protection across various domains. It addresses all significant aspects of the distribution of financial products by intermediaries to investors, including the costs charged to investors, as well as the coordination of financial literacy initiatives and aspects of financial innovation and regulation.

A three-day meeting of the World Federation of Investors (WFI) took place in Milan, Italy, over the past week, actively attended by the VZMD President, Kristjan Verbič, as a member of the Executive Committee. He arrived in Milan directly from a joint conference of European regulatory and supervisory bodies - the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA) - which, as part of the "ESAs Consumer Protection Day," was held in Budapest following last year's session in Madrid.

Following the successful conclusion of the World Federation of Investors (WFI) meeting and the investor conference in Milan (VIDEO: www.youtube.com/live/Cbq7zGUz6dQ), the Executive Board of the European Federation of Investors and Users of Financial Services (BETTER FINANCE) held a meeting this Tuesday, attended also by the VZMD President, Kristjan Verbič. During the session, the Executive Board discussed preparations for the annual meeting and the international investor conference scheduled for December, which BETTER FINANCE organizes biennially in Wiesbaden (near Frankfurt) in collaboration with the German Shareholders' Association (DSW). This year's conference will be titled "Europe at a crossroads – are we still competitive?".

The International Investor Conference “Building Financial Futures: Promoting Shareholder Engagement and Financial Literacy” has just commenced in Milan. Organized by the World Federation of Investors (WFI) in collaboration with the European Federation of Investors and Financial Services Users (BETTER FINANCE) and the Italian association New Savers, this annual event is now available for live viewing via the BETTER FINANCE YouTube channel – LIVE VIDEO: www.youtube.com/live/Cbq7zGUz6dQ.

Today the "ESAs Consumer Protection Day" joint conference is taking place at the headquarters of the Central Bank of Hungary in Budapest. The event is being jointly organized for the 11th time by the EU Banking Authority (EBA), the EU Insurance and Occupational Pensions Authority (EIOPA), and the EU Securities and Markets Authority (ESMA). This year's theme is "Fair access to the future of financial services." The conference was opened by ESMA Chair, Verena Ross, and Vice Governor of the Central Bank of Hungary, Csaba Kandrács. Following the opening remarks, panel discussions & presentations are focused on artificial intelligence in the financial sector, empowering consumers in the digital age, improving accessibility and user experience of financial services, and ensuring a stable regulatory framework that benefits consumers.

Last Thursday, a full-day meeting of the Financial Services User Group (FSUG) at the European Commission took place, attended also by the President of VZMD, Mr. Kristjan Verbič. Among other topics, the members discussed letters and guidelines from the President of the European Commission, Ursula von der Leyen, to the candidate for European Commissioner for Financial Services and the Savings and Investments Union, Ms. Maria Luis Albuquerque, as well as to the candidate for European Commissioner for Democracy, Justice, and the Rule of Law, Mr. Michael McGrath. They also addressed proposals and comments related to the EU Regulation on Sustainability-Related Disclosures in the Financial Services Sector (SFDR), the Mortgage Credit Directive (MCD), the Payment Accounts Directive (PAD), and the Shareholder Rights Directive.

The 56th International Trade Fair (MOS) kicked off on Wednesday with the economic forum "Connected for the Future of Slovenia" and will run until Sunday. The event was officially opened by the Minister of Economy, Tourism, and Sport, Matjaž Han, who engaged in a lively debate with the President of the Chamber of Commerce and Industry of Slovenia (GZS), Tibor Šimonka. In the opening discussion, the Minister of Labour, Family, Social Affairs, and Equal Opportunities, Luka Mesec, and the President of the Chamber of Craft and Small Business of Slovenia (OZS), Blaž Cvar, also presented their views and positions. In addition to the fair itself, which comprises five segments - MOS HOME, MOS TECHNOLOGY & DIGITALIZATION, MOS TOURISM, MOS B2B, and MOS PLUS - the "MOS Business Days" are featuring numerous lectures and workshops over the course of five days.

This afternoon, the 2-day 19th Bled Strategic Forum (BSF), the largest foreign policy event in the Republic of Slovenia, will conclude at Bled. This year, the forum is held under the title “A World of Parallel Realities”. As Slovenia takes on the Presidency of the United Nations Security Council, this edition of the forum has highlighted the most notable conflicts in the global context, focusing on the pursuit of stability amidst global chaos. The opening addresses were delivered by the President of the European Commission, Ursula von der Leyen, and the UN Secretary-General, António Guterres - alongside the host, Minister of Foreign and European Affairs, Tanja Fajon, and the President of the Republic of Slovenia, Nataša Pirc Musar. The opening session was followed by a "Leaders' Panel", where perspectives and insights were shared by the Prime Minister of Slovenia, Robert Golob, the Prime Minister of Albania, Edi Rama, the Prime Minister of Serbia, Miloš Vučević, and the Prime Minister of Croatia, Andrej Plenković (in the photo with the President of VZMD, Kristjan Verbič). In addition to the highest representatives of the Republic of Slovenia, this year's event was attended by numerous top representatives of countries, international institutions, and businesses.

Last week, the Ministry of Finance of the Republic of Slovenia published a response from the European Commissioner for Financial Services, Financial Stability, and the Capital Markets Union, Mairead McGuinness, to a joint letter from the finance ministers of Austria, Croatia, and Slovenia (dated May 28, 2024) and their initiative for further development of the Capital Markets Union (CMU) and the strengthening of EU competitiveness. VZMD explicitly supports such initiatives and expresses satisfaction that the Ministry finally listened to their arguments and specific proposals aimed at encouraging citizens and society to unleash significant investment potential, which should be directed towards boosting the economy, strengthening capital markets, and ensuring long-term sustainable financial security and stability. VZMD has addressed numerous letters, warnings, and constructive proposals to the Ministry on this matter.