In the procedure for the review of the constitutionality, initiated by brokerage firm ALTA INVEST, d.d. (in collaboration with ILIRIKA d.d., GBD BPD d.d., and NLB d.d.), the Constitutional Court of the Republic of Slovenia decided to repeal the Book Entry Securities Act (ZNVP-1) in the part limiting the expenses for trading account management for natural persons to a maximum of 0.5% of the average share price on the account. This is yet another serious and possibly crippling blow to over 100,000 minority shareholders in the Republic of Slovenia, mostly those, who had to transfer their shares from free-of-charge registry accounts to payable trading accounts due to the amendment of ZNVP-1. It was also thanks to the PanSlovenian Investors' & Shareholders' Association (VZMD) protest and appeal that in September 2015 members of the Parliament included in the Act at least the limitation on the amounts charged by financial intermediaries, which the latter have now abolished through the Constitutional Court!
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NATIONAL ASSEMBLY - Through the amendment to the Financial Instruments Market Act, the Slovenian Government once again attempts to suspend "Share SUPPORT", which worked well for more than 1,500 shareholders whose registry accounts have been abolished - VZ
Last week, Mr. Kristjan Verbič, President of the PanSlovenian Investors’ & Shareholders’ Association (VZMD), sent an official letter to the Speakers of the National Assembly and the National Council of the Republic of Slovenia, leaders of deputy groups, and presidents of parliamentary parties. The letter included his well-supported objections to the proposal for the change of Paragraph 10 of Article 296 of the amendment to the Financial Instruments Market Act (ZTFI-1) as proposed by the Government of the Republic of Slovenia. The experts from VZMD firmly believe that the suggested change, which came only a year after the last aggravation of the situation, is evidently a new attempt to suspend the successful program called "Share SUPPORT" (VIDEO) and a step towards implementing additional unreasonable limitations to the lawyer's trust account of securities used for executing shared sales. These sales proved to be an extremely efficient part of the "Share SUPPORT" (VIDEO). In December 2017 alone, resounding shared sales were executed for shares, which up until that moment were considered worthless, yet brought to 1,100 shareholders collectively more than EUR 260,000 from sales. The realized values of such shares always significantly exceeded (sometimes even by six times) the previous market values attained by "professional" financial intermediaries.
BRUSSELS, 14 February ‒ EUROPEAN COMMISSION NOMINATES BOŠTJAN JAZBEC, THE GOVERNOR OF THE BANK OF SLOVENIA CURRENTLY UNDER CRIMINAL INVESTIGATION, AS A BOARD MEMBER OF THE SINGLE RESOLUTION BOARD. FINAL APPROVAL TO BE VOTED BY THE EUROPEAN PARLIAMENT
THE GOVERNOR PULLS UP STAKES ‒ After the institutional robbery of the century in Slovenia, the Governor retreated to a sinecure with the higher authorities, where he would be as a Board member of the Single Resolution Board ‒ the central resolution authority within the Banking Union ‒ in charge of resolution planning and decision-making, of "bank bailouts with minimum consequences for taxpayers" – AN OVERVIEW OF HIS OUTSTANDING REFERENCES for the EUROPEAN PARLIAMENT
MALTA ‒ official visit of Slovene delegation to the President of the Republic of Malta ‒ beside exceptional humanitarian potential and efforts there was also the opportunity to establish and strengthen business and personal relationships at the highest le
The past weekend, the president of the Republic of Malta, Her Excellency Marie-Louise Coleiro Preca, has hosted the Slovene delegation ‒ the representatives of the Hiša Sonca society and the Druga Violina restaurant, who were on a three-day official visit to the presidential palace. On Saturday, they organized a high-profile charity dinner and formal reception together with the Maltese "Malta Community Chest Fund Foundation" society (MCCFF). The reception took place in support of efforts by Maltese hosts to follow the successful Slovene example and establish a concept of a restaurant which also employs special needs persons.
A promising visit from a high-level business delegation to accompany the joint meeting between the governments of the Republic of Slovenia and the Republic of Serbia and a high-profile business conference held by the British-Slovenian Chamber of Commerce
Last Thursday, accompanying the visit from a high-level business and political delegation from the Republic of Serbia, and following the joint meeting of both governments in Brdo pri Kranju, an important business conference took place at the Chamber of Commerce and Industry of Slovenia (CCIS), attended by more than 200 of the most prominent representatives from Slovene and Serbian enterprises, numerous ministers, and other prominent guests from both countries.
VIDEO REPORT - Opening of the "SLOVENIA BUSINESS CENTER" during the European handball championship with active participation of VZMD international programs
VIDEO: www.youtube.com/watch?v=I8lFOoKI-5E
Other Related International Activities:
EXCLUSIVE VIDEO REPORT from Wroclaw - 4 days of exceptional opportunities in »Slovenian Center«, juncture for business, investment and promotional interests
SLOVENIAN CENTER IN WROCLAW - large attendance and numerous opportunities for Slovenia's promotion, as well as promising business collaborations, also within the VZMD's business-investor programs and the premiere of its PRESENTATIONAL VIDEO
VIDEO INVITATION – Opportunity for company presentations - »SLOVENIAN BUSINESS CENTER« at the European handball championship
VIDEO REPORT from 10th Bled Strategic Forum - the largest foreign affairs event in Slovenia
VIDEO REPORT on the 6th this year's tour of the VZMD's international business-investor programs and its focal part - business angels delegation in Albania, Kosovo and Macedonia
EXCLUSIVE VIDEO REPORT from Istanbul - the European Business Angels Investment Forum 2014
EXCLUSIVE VIDEO REPORT about the week of the MOSCOW-VIENNA-CAPETOWN conferences involving the following: active participation of the international business-investment VZMD programmes, signing a memorandum with the Russian Federation of Investors, and protection of rights of the Slovene and European shareholders at the Viennese conference »The Financial Repression of Savers and Investors« (Moscow, Vienna, Cape Town, October 2013)
MOSCOW – At the Slovenian Embassy about a joint investors’ conference in the fall – an arrangement between the Russian Federation of Investors, VZMD and the Slovenian Embassy (Moscow, June 2013)
KAZAKHSTAN – a successful visit of the Slovenian business delegation in Kazakhstan – strong interest displayed in the international investors’ programs of the PanSlovenian Shareholders’ Association (VZMD): investo.si and investo.international (Astana, Almaty, June 2013)
WORLD BANK – President of VZMD and EuroFinUse Board Member speaker of the first panel at the international conference about audit reform and the importance of audit committees (Bucharest, June 2013)
VIDEO REPORT – Variegated happening at the 19th financial fair KAPITAL 2013 at Cankar Hall, along two-day presentation of the international investors’ programs and the lecture of VZMD President (Ljubljana, April 2013)
INDIA – visit of Slovenian government and business delegation – on the basis of Memorandum between ICPE and VZMD international investors' programs investo.si and investo.international also present (New Delhi, February 2013)
EXCLUSIVE VIDEO REPORT of “International Conference on Benefits and Challenges of Public Private Partnerships for improving Energy Efficiency” – key statements of prominent participants (Ljubljana, October, 2012)
EXCLUSIVE VIDEO REPORT from Slovenian - Azerbaijani Business Forum in Baku (Baku, January, 2013)
EXCLUSIVE VIDEO REPORT - Investors' week and the view of business potentials and investment opportunities during the visit of distinguished international guests at the Slovenian coast (Postojna, Koper, Piran, September, 2012)
VIDEO REPORT "Ljubljana declaration" – historic decision on unification of 50 organizations of shareholders and investors under one association and VZMD award »Polet« for »Model corporate governance in multinational corporation« to Gorenje company (Ljubljana, September 21, 2012)
Gala reception and dinner before International Conference on financial education and investors` exposition »investo Expo« (Ljubljana, September 19, 2012)
VIDEO REPORT - International Conference at the Brussels Stock Exchange Stimulated Investors' Representatives and Institutions to Participate at the Investors' Week 2012 in September in Slovenia(Brussels, March 2012)
"Slovenian Day at the Warsaw Stock Exchange (WSE)" Exceptional Interest of Funds, Investors, and the Financial Media for Slovenian Companies and Its Investment Environment - The Introduction of investo.si - Invest to Slovenia's Newly Founded Affiliate, investo.me - Invest to Montenegro (Warsaw, October 2011)
www.vzmd.si – More on the VZMD – PanSlovenian Shareholders' Association
www.vzmd.tv and www.investo.tv – Over 300 videos from VZMD.TV and investo.tv
www.investo.si – More on the investo.si – Invest to Slovenia Program
www.invest-to.net – More on the network of 65 national organizations of shareholders and investors – investo.international
"SLOVENIA BUSINESS CENTER" IN CROATIA ‒ PRESENTATIONS OF VZMD AND BETTER FINANCE ALONG DIVERSE BUSINESS EVENTS AT THE EUROPEAN HANDBALL CHAMPIONSHIP 2018
"SLOVENIA CENTER ‒ I FEEL SLOVENIA" ‒ exceptional meeting point for business and social gatherings in Zagreb at the European Handball Championships (January 12‒28, 2018) ‒ will open tomorrow. In the Slovenia Center, whose partner and Golden Sponsor is also the PanSlovenian Shareholders' Association (VZMD) within the framework of its international business-investor programs Invest to Slovenia ‒ investo.si and International Investors' Network ‒ invest-to.net, sports, economic, investment and promotional interests will be combined in one-place. The opening ceremony and the following events will be attended by Mr. Kristjan Verbič, the VZMD President, and Ms. Jella Benner-Heinacher, the President of the European Federation of Investors and Financial Services Users (Better Finance), who will give a presentation of the Better Finance and international business-investor programs of the VZMD, which are celebrating the 10th anniversary of successful operation this year (Preliminary Programme 2018).
MALTA - extreme wonder at the meeting of the European Federation of Investors at actions taken by financial intermediaries and the by-ways of the capital market in Slovenia, again under the false pretense of a European regulation, which no other EU countr
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 (KDD) into 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.
THE NATIONAL ASSEMBLY - in Slovenia, financial intermediaries became beneficiaries of dividends instead of (minority) shareholders - the VZMD has appealed for the additional Authentic interpretation of the Act due to the renewed circumvention of the law,
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.