At the end of September the Annual Meeting and Investor Conference of the World Federation of Investors (WFI) took place in Vienna. The Annual Meeting and Conference, which were co-organised by the Austrian Association of Investors, took place in the renowned Villa Klimt and at the premises of the Raiffeisen Bank »Sky Lounge«. investo.TV & VZMD.tv  teams were following the events and a diverse programme this time as well, and they have prepared an exclusive VIDEO REPORT.

The eminent participants – representatives of 57 national associations of investors, various banks and corporations, Austrian Ministry of Finance and Central Bank, Vienna Stock Exchange and many others – were in the framework of the Conference discussing financial education and banking as well as business activities in Central and Eastern Europe and Russia.

The PanSlovenian Shareholders Association (VZMD), President Mr Kristjan Verbič, also attended the events in Vienna in the framework of this year's 7th tour of the VZMD international business-investment programmes Invest to Slovenia and International Investors` Network. Mr Verbič arrived in Vienna directly after he had been actively involved in the activities of the Slovenian Business Delegation whose four-day trip to an important Russian region Yaroslavl had been organised by the Public agency SPIRIT Slovenia. 

On this occasion in Vienna the representatives of the World Federation of Investors were otherwise informed about the recent events related to the shocking expropriation of shareholders and bondholders of the Slovenian Banks, and about the letter which has recently been sent by VZMD to important international financial institutions. The eminent participants have expressed their concern and surprise over such conduct and over the inaction of the regulators and the competent institutions.   

Some participants have already heard about these alarming actions and VZMD efforts, since Mr. Verbič, exposed the problems and VZMD endeavours in detail in May this year at the Annual Conference of the International Financial Litigation Network in New York, and in February and April at the Conferences of the European Federation of Financial Services Users at the European Parliament and in Madrid. 

At the end of this international tour VZMD President presented these acute problems again at the Conference Better Finance in Brussels, where he arrived from Vienna. As a Board Member of the European Federation of Financial Services Users Mr Verbič in Brussels attended the presentation of the Report »Private Pensions: The Real Returns«.

As usually, suitable presentations of companies, institutions and investment projects included in the two VZMD business-investment programmes: investo.si and invest-to.net were also provided this time during all occasions, events and conferences. 

After this year's successful presentations in Belgrade, Bled, Bratislava, Brussels, Buenos Aires, Grodno, Copenhagen, Madrid, Montevideo, New York, Yaroslavl, New Delhi, Ouagadougou, Paris, Piran, Reykjavik and Tehran, and last year's in  Astana, Almaty, Bled,  Baku, Brussels, Buffalo, Bucharest, Cape Town, Celje, Dubai, Vienna, Kiev, Ljubljana, Madrid, Minsk, Moscow, New Delhi, Tokyo, Toronto and Zagreb, the two VZMD international business-investment programmes continue to provide for their partners effective presence and presentations on five continents!     

If you would like to take part in our events and activities, you are kindly invited to contact the VZMD investo.si programme coordinator by phone +386 31 770 771 or e-mail: info@investo.si. 

The Annual Meeting and Investor Conference of the World Federation of Investors took place on 25th and 26th September in Vienna. The Annual Meeting and Conference, which were co-organised by the Austrian Association of Investors, took place in the renowned Villa Klimt and at the premises of the Raiffeisen Bank »Sky Lounge«, along with a diverse accompanying programme.

The eminent participants – representatives of 57 national associations of investors, various banks and corporations, Austrian Ministry of Finance and Central Bank, Vienna Stock Exchange and many others – were in the framework of the Conference discussing financial education and banking as well as business activities in Central and Eastern Europe and Russia.

The PanSlovenian Shareholders Association (VZMD) President Mr Kristjan Verbič, also attended the events in Vienna in the framework of this year's 7th tour of the VZMD international business-investment programmes Invest to Slovenia (investo.si) and International Investors` Network (invest-to.net). Mr Verbič arrived in Vienna directly after he had been actively involved in the activities of the Slovenian Business Delegation whose four-day trip to an important Russian region Yaroslavl had been organised by the Public agency SPIRIT Slovenia. 

On this occasion in Vienna the representatives of the World Federation of Investors were otherwise informed about the recent events related to the shocking expropriation of shareholders and bondholders of the Slovenian Banks, and about the letter which has recently been sent by VZMD to important international financial institutions. The eminent participants have expressed their concern and surprise over such conduct and over the inaction of the regulators and the competent institutions.   

Some participants have already heard about these alarming actions and VZMD efforts, since Mr. Verbič, exposed the problems and VZMD endeavours in detail in May this year at the Annual Conference of the International Financial Litigation Network in New York, and in February and April at the Conferences of the European Federation of Financial Services Users at the European Parliament and in Madrid. 

At the end of this international tour VZMD President presented these acute problems again at the Conference Better Finance in Brussels, where he arrived from Vienna. As a Board Member of the European Federation of Financial Services Users Mr Verbič in Brussels attended the presentation of the Report »Private Pensions: The Real Returns«.

As usually, suitable presentations of companies, institutions and investment projects included in the two VZMD business-investment programmes: investo.si and invest-to.net were also provided this time during all occasions, events and conferences. 

After this year's successful presentations in Belgrade, Bled, Bratislava, Brussels, Buenos Aires, Grodno, Copenhagen, Madrid, Montevideo, New York, New Delhi, Ouagadougou, Paris, Reykjavik and Tehran, and last year's in  Astana, Almaty, Bled,  Baku, Brussels, Buffalo, Bucharest, Cape Town, Celje, Dubai, Vienna, Kiev, Ljubljana, Madrid, Minsk, Moscow, New Delhi, Tokyo, Toronto and Zagreb, the two VZMD international business-investment programmes continue to provide for their partners effective presence and presentations on five continents!   

After this year's successful presentations of companies, institutions and investment projects in: Belgrade,Bled, Bratislava, Brussels, Buenos Aires, Copenhagen,Grodno,  Madrid, Montevideo, New Delhi, New York, Ouagadougou, Paris and Tehran, and last year's inAstana, Almaty, Baku, Bled, Brussels, Buffalo,Bucharest, Cape Town, Celje, Dubai, Vienna, Kiev, Ljubljana,Madrid, Minsk, Moscow, New Delhi, Tokyo, Toronto and Zagreb, the two VZMD international business-investment programmes continue to provide for their partners effective presence and presentations on five continents!        

If you would like to take part in our events and activities, you are kindly invited to contact the VZMD investo.si programme coordinator by phone +386 31 770 771 or e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it..

A press conference and the presentation of report entitled »Private Pensions: The Real Returns« took place yesterday late afternoon at the premises of the Brussels Press Club. The report has been prepared by the European Federation of Financial Services Users (EuroFinUse-Better Finance).

After being actively involved in the activities of the Slovenian business delegation, whose business trip to an important Russian region Yaroslavl was organised by the Public Agency SPIRIT Slovenia, and after having attended the Annual Meeting and Conference of the World Federation of Investors (WFI) in Vienna, the VZMD President Mr Kristjan Verbič, MSc, also visited Brussels where he was attending the Conference as a Board Member of EuroFinUse. Mr Verbič visited Brussels in the framework of this year's seventh tour of the international business-investment programmes of the PanSlovenian Shareholder's Association (VZMD): Invest to Slovenia (investo.si) and International Investors` Network (invest-to.net).

Yesterday, directly upon his arrival from Vienna, Mr Verbič, MSc, visited the EuroFinUse premises where he was received by the Managing Director Guillaume Prache and his work colleagues. Mr Prache presented this important report together with the EuroFinUse President Mr Jean Berthon. More than 50 representatives of the European Commission, The European Parliament, insurance associations, funds, banks, stock exchanges, pension boards, savings councils, institutions and committees attended the Conference which was, apart from numerous journalists, also attended by the representatives of the Pan-European Issuers Association (EuropeanIssuers). EuroFinUse as well as VZMD have already successfully cooperated with EuropeanIssuers several times.

As in Vienna, the VZMD President also on this occasion informed the eminent participants and media representatives about the recent events related to the shocking expropriation of shareholders and bondholders of the Slovenian Banks, and about the letter which has recently been sent by VZMD to some distinguished international financial institutions.   

The Slovenian business delegation, whose visit to Russia has been organised by the Public Agency SPIRIT Slovenia, arrived in the Russian region Yaroslavl on Sunday. The business delegation comprises 30 representatives from 21 companies and institutions. 

On Monday the business delegation members visited, among other things, industrial park Novoselki, some Russian companies and providers of tourist services, and yesterday they attended the Russian-Slovenian business seminar and investment forum with B2B meetings, which took place at the premises of the Government of the Yaroslavl region. Delegation members were received and addressed by the Governor of the Yaroslavl region Mr Sergey N. Jastrebov. More than 100 representatives of the Russian companies and institutions were present, among others also the following representatives: Deputy Governor Mr Dmitry Mikhailovich, Director of the Investment Policy of the Region Mr Zolotovskii Andrey, Director of the Department for Industrial Policy of the region Mr Polishchuk Sergey, the Head of Tourism Agency Vetoshkina Julia Albertovna, and numerous other eminent participants.        

In the framework of this year's seventh tour of the PanSlovenian Shareholders' Association (VZMD) international business-investment programmes: Invest to Slovenia (investo.si) and International Investors` Network (invest-to.net) the VZMD President Mr Kristjan Verbič, MSc, is actively involved in the activities of the business delegation. On this occasion a special presentation catalogue was published, and you can have a look at it below. 

After yesterday's evening reception, which had been organised by the Government of the Yaroslavl region for the Slovenian businessmen as well as for the businessmen there, Mr Verbič is today departing for Vienna, where he will be participating at the Annual Meeting and Investor Conference of the World Federation of Investors (WFI). Investo.TV team will also be present there, and they are going to prepare news coverage about the events in Vienna. As usually, suitable presentations of companies, institutions and investment projects included in the investo.si and invest-to.net programmes will also be provided this time.

After this year's successful presentations of companies, institutions and investment projects in: Belgrade, Bled, Bratislava, Brussels, Buenos Aires, Copenhagen, Grodno,  Madrid, Montevideo, New Delhi, New York, Ouagadougou, Paris and Tehran, and last year's in Astana, Almaty, Baku, Bled, Brussels, Buffalo, Bucharest, Cape Town, Celje, Dubai, Vienna, Kiev, Ljubljana, Madrid, Minsk, Moscow, New Delhi, Tokyo, Toronto and Zagreb, the two VZMD international business-investment programmes continue to provide for their partners effective presence and presentations on five continents!        

If you would like to take part in our events and activities, you are kindly invited to contact the VZMD investo.si programme coordinator by phone 031 770 771 or e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.. Those who were participating in the business delegation this time, are presented in a special brochure: "Slovenian Business mission to Yaroslavl in Russian federation".

NLB, Slovenia's largest bank, continues with its irresponsible and deceitful attitudes towards investors, while the national banking regulator (Bank of Slovenia) refuses to recognize the serious problem and its potential disastrous consequences; this compelled the PanSlovenian Shareholders' Association (VZMD) to report the latest malpractices to the international financial institutions that unwittingly assist NLB with its new issuances to trusting investors.

On 15 November 2013, NLB officially reported that on 30 September 2013 its equity met all the capital requirements, yet on 18 December 2013, its investors were expropriated, with the national regulator Bank of Slovenia declaring that on 30 September 2013 NLB's equity was in fact negative. Thus, Bank of Slovenia found that NLB's Management Board overstated the equity by more than one billion € (+835 as opposed to –318 million €), but despite this it decided not to pursue any action whatsoever against any member of NLB's Management Board, who to this day all remain on this board, receiving the same salaries as before this discovery. Furthermore, Bank of Slovenia also did not recognize any need for compensation, or any other form of protection, of the expropriated investors, although it is more than obvious that they had been misinformed and deceived by NLB's official financial statements.

With regret and indignation, VZMD observes that NLB still continues with its deceitful practices towards investors, while Bank of Slovenia still keeps refusing to sanction these practices in any way, and even to recognize any wrongdoing. Namely, on 1 July 2014, NLB has again blatantly deceived its investors, issuing 300 million € of new bonds (XS1081728195) listed on the Luxembourg Stock Exchange based on the prospectus (also dated 1 July 2014) in which NLB's Management Board stated that there were three ongoing legal proceedings contesting the registration of the 18 December 2013 expropriation act, yet stressed that »As at the date of this Prospectus, it is not possible to predict the outcome of these (or any other) proceedings«.

NLB's Management Board has stated this untruth 27 days after the most important of the mentioned three proceedings had been decided, with the decision at that date already being final, uncontestable and legally binding. Namely, on 4 June 2014 the Higher Court of Ljubljana, by decision IV Cpg 474/2014, reversed the Registration Act Srg 2013/53822, by which on 18 December 2013, the recapitalization and auxiliary measures thereof were recorded in the Court Register of the District Court in Ljubljana. Official documentation of the District Court in Ljubljana (at disposal at the VZMD headquarters) reveals that on 27 June 2014, this decision was served to the members of NLB's Management Board, NLB's legal representatives, and the authorized officials of the Bank of Slovenia.

This indisputably ascertains that on 1 July 2014, the date of the issuance and of the prospectus, the court decision IV Cpg 474/2014 and its legal consequences had been known to the abovementioned persons for at least six days, yet they were not disclosed in the prospectus; on the contrary, it was stated explicitly that »at the date of this Prospectus, it is not possible to predict the outcome of these proceedings«. This misinformation certainly played a substantial role in convincing the investors (both Slovenian and foreign nationals) into subscribing as much as 300 million € of the offered bonds.

As Bank of Slovenia is acquainted with all the above-mentioned acts of NLB's irresponsibility and deceit, yet refuses to act or even recognize these acts as problematic, VZMD is compelled in its endeavor of protecting the small investors to report these malpractices to the international financial institutions that unwittingly assist NLB with its new bond issuances. The Letter informing these institutions about the failure by NLB to disclose an essential material fact in the latest bond issuance is available here: www.vzmd.si/images/Notification-NLB-20140912-Failure-to-disclose%20.pdf

In the first unofficial response, one of these institutions assured VZMD that to date, NLB has not informed them about the legally binding reversal of the 18 December 2013 registration act, and that this institution finds this highly troubling, as their mutual agreements with NLB certainly made it binding for NLB to notify them of all such events before the date of the issuance, yet they even failed to do so subsequently.

This year's sixth tour of the PanSlovenian Shareholders' Association (VZMD) international business-investment programmes: Invest to Slovenia (investo.si) and International Investors` Network (invest-to.net) is being concluded by the VZMD President's return from Warsaw. In the framework of the tour the VZMD President Mr Kristjan Verbič, MSc, last week actively participated at the 9th Bled Strategic Forum, and he also attended the high-level THINK TANKS symposium (16+1) of China and Central and Eastern European countries (investo.TV VIDEO REPORT). Mr Verbič also attended the international investor's forum and the »Euroregion Neman 2014« expo which took place in the Belarusian city Grodno, the home to the »Grodnoinvest« free economic zone.

The VZMD President was, in the framework of the »Euroregion Neman 2014« expo, after the Thursday's noticeable opening ceremony, invited to present investo.si and invest-to programmes and the Slovenian business environment, wherein he invited numerous eminent businessmen and representatives of various institutions to join business delegation which will be, in cooperation with the Slovenian Chamber of Commerce and Industry (GZS), visiting Ljubljana in the second half of October. Besides the forum panels and various presentations the beer festival also took place. Beer is, otherwise, one of the most recognisable Belarusian export items, which is mostly exported to the neighbouring countries. Friday evening was concluded by a solemn award ceremony for the best company in the region in 2014, a gala reception (in the photo on the left: VZMD President with the Vice President of the Executive Board of Grodno region Elena Agej, Indian Ambassador to Belarus, HE Manoj K. Bharti and his wife, and the Head of the administration of the free economic zone »Grodnoinvest« Mr Sergey Tkachenko) and a fashion show presenting the textile products made by the manufacturing companies there.      

At the Friday's reception Mr Verbič was invited to a special visit to the manufacturing complex "ZOV-LenEUROMEBEL", which he visited on Saturday, together with the Deputy General Manager Denis Mitsura, the Head of Grodnoinvest administration Mr Sergey Tkachenko, the Governor of the Turkish region Edirne - Dursun Ali Sahin, and the Chairman of the Board of Directors of Edirne Chamber of Commerce and Industry Recep Zipkinkurt (in the photo on the right).  

Besides the representatives of various companies and institutions, many Belarus media representatives also expressed their interest in Slovenia and business opportunities it can offer, as well as an interest in the possibilities of cooperation (one of the GRODNO PLUS TV news coverage on the left).   

After this year's successful presentations of companies, institutions and investment projects in Belgrade, Bled, Bratislava, Brussels, Buenos Aires, Copenhagen, Madrid, Montevideo, New Delhi, New York, Ouagadougou, Paris and Tehran, and last year's in Astana, Almaty, Baku, Bled, Brussels, Buffalo, Bucharest, Cape Town, Celje, Dubai, Vienna, Kiev, Ljubljana, Madrid, Minsk, Moscow, New Delhi, Tokyo, Toronto and Zagreb, the two VZMD international business-investment programmes continue to provide for its partners effective presence and presentations on five continents!        

If you would like to take part in our events and activities, you are kindly invited to contact the VZMD investo.si programme coordinator by phone 031 770 771 or e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Following the conclusion of the 9th Bled Strategic Forum on Tuesday, the THINK TANKS symposium of China and Central and Eastern European Countries began at Bled with a reception held on Tuesday evening.
After the Wednesday's opening addresses, numerous high representatives of states, institutions and companies were, in the framework of various panel meetings, discussing topical issues and they were also talking about the opportunities offered by the economies along the Silk Road in the 21st century. The high representatives were also discussing the possibilities of cooperation among the Central and Eastern European Countries and China. Such cooperation would represent a new important element when establishing collaboration between the EU and China. They were also discussing strategic guidelines of the emerging economic partnership, and the role of the media in cultural and social intertwining.
These developments represent an exceptional opportunity to establish and strengthen friendly, scientific, business and economic contacts. The President of the PanSlovenian Shareholder's Association (VZMD), Mr Kristjan Verbič, MSc, attended both events at Bled, and he used this opportunity for various talks and informal meetings, primarily in the framework of the international business-investment programmes: Invest to Slovenia (investo.si) and International Investors` Network (investo.international)
This event is otherwise part of the meetings of the Heads of States of Central and Eastern Europe and China 16+1 – this follows the last year's meeting in Bucharest which was also attended by Mr Verbič, MSc. After the three-day event had been concluded, VZMD President immediately departed for Belarus where he is attending an International investment forum »GrodnoInvest«.
You can watch yesterday's subtitled VIDEO REPORT by clicking the photo above.
After this year's successful presentations of companies, institutions and investment projects in Belgrade, Bled, Bratislava, Brussels, Buenos Aires, Copenhagen, Madrid, Montevideo, New Delhi, New York, Ouagadougou, Paris and Tehran, and last year's in Astana, Almaty, Baku, Bled, Brussels, Buffalo, Bucharest, Cape Town, Celje, Dubai, Vienna, Kiev, Ljubljana, Madrid, Minsk, Moscow, New Delhi, Tokyo, Toronto and Zagreb, VZMD enables to its partners active presence and presentations on five continents!

If you would like to take part in our events and activities, you are kindly invited to contact the VZMD investo.si programme coordinator by phone +386 31 770 771 or e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it..

My colleagues at work and I were deeply saddened by the sudden and premature death of our long-time, sincere friend Leif Vindevåg, a truly excellent and lucid representative of the Swedish Shareholders' Association Aktiespararna, as well as the European and World Federation of Investors’ and Shareholders’.

Leif was, with his wit, wisdom and exceptional life experiences, a great inspiration to us all – since our first meetings in Brussels eight years ago, across the continent of Europe, on the two occasions when he visited Ljubljana, all the way to our genuinely-friendly socialising only three weeks ago in Rejkyavik which, unfortunately, turned out to be our last.

With deep sorrow we would like to express our most sincere condolences to his family and close friends with a wish that these hard times be endured by remembering Leif's unique personality, heart-warming joie de vivre and captivating energy.       

Dear Leif, we will miss you!

Kristjan Verbič

PanSlovenian Shareholders' Association (VZMD)

A two-day international investment conference and sessions of the Executive Board and the Legal Committee of the European Federation of Financial Services Users (EuroFinUse) began yesterday in the Icelandic capital Reykjavik, in a renowned Concert Hall and Conference Centre Harpa. EuroFinUse is the only (European) Association of this kind which unites more than 50 national and international  member organizations of shareholders and investors. In the framework of yesterday's session a meeting of the EuroFinUse Legal Committee was held, and it was followed by a gala reception and dinner for eminent domestic and international participants. Additionally, the most prominent representatives of the World Federation of Investors (WFI) have been invited to this conference as well.

At today's conference »Back to basics – Economies before, during and after the crisis« the assembled participants will be addressed, among others, by: the President of NASDAQ OMX Iceland Páll Harðarson; the EuroFinUse President Jean Berthon; the President of the Icelandic Shareholders' Association Bolli Héðinsson; dr. Salvör Nordal who is the Director of the Centre for Ethics of the University of Iceland and a member of a special Commission of Inquiry of the Icelandic Parliament dealing with Icelandic Banks; the President of the European Insurance and Occupational Pension Authority (EIOPA) Gabriel Bernardino; a representative of the European Securities and Markets Authority (ESMA) Laurent Degabriel, and many others.

In the framework of the Conference a debate has been scheduled, namely a debate on findings, consequences and opportunities brought by the financial crisis, placing a major focus on the case of Iceland which in 2008 – as the first European country – went through the collapse of financial sector. Kristjan Verbič, MSc, is also actively participating at this session as a member of the EuroFinUse Executive Board and as the President of the PanSlovenian Shareholders' Association (VZMD). Mr Verbič will, inter alia, ensure adequate presentations of companies, institutions and investment projects included in the two VZMD international business-investment programmes: Invest to Slovenia (investo.si) and International Investors` Network (invest-to.net), similarly as at the EuroFinUse conference in Brussels (VIDEO REPORT) and in Vienna (VIDEO REPORT) in the last year.

The VZMD President Mr. Kristjan Verbič, MSc, arrived in Buenos Aires at the beginning of the week in the framework of this year's fourth tour of the Pan-Slovenian Shareholders' Association (VZMD) international business–investment programmes: Invest to Slovenia(investo.si) and International Investors` Network (investo.international). Mr Verbič departed from Buenos Aires to Montevideo where he was attending the ceremony marking the official opening of the Consulate of the Republic of Slovenia in Uruguay. Among the many attendees, members of the Slovenian community, businessmen and diplomats, the following participants were also attending the ceremony: Tomaž Kunstelj, the Secretary General at the Slovenian Ministry of Foreign Affairs, the Slovenian Ambassador to Argentina HE Tomaž Mencin, the Honorary Consuls Dr Eduardo R. Antonich, Carlos Alberto Borba Reculusa and Hernan Zupan, the Secretary of the Apostolic Nunciature in Uruguay Dr Matjaž Roter, the President of the Slovenian Football Association Aleksander Čeferin, etc.