The PanSlovenian Investors' & Shareholders' Association (VZMD) is pleased about the commendable ranking of Slovenia in terms of minority shareholder rights protection – 7th place in the category »Protecting Minority Investors«, which is one of the ten indicators of the World Bank's »Doing business 2016« report. At the same time, it is noted that certain measures and criteria unfortunately do not reflect the real situation in practice; moreover, as it seems, the scores primarily build on legislation or administrative law – defined in acts, statutes, codes, etc.
In view of the ten years of experience directly in the field, VZMD – as the only Slovenian internationally engaged and recognized organization in the field of protection of rights and interests of minority shareholders and individual investors – believes that the chances for better scoring are much higher. In this context, VZMD stresses the importance of finding an appropriate solution for the unjustifiable total expropriation of holders of subordinated bonds and shares of nationalized Slovenian banks, as this a unique case in the EU for which significantly even the European Commission stated its position, whereas comparably also the Austrian Constitutional Court. The Slovenian Constitutional Court treated the case of the review of constitutionality of the scandalous amendment to the Banking Act, which served as a basis for expropriation of over 100,000 Slovenian and foreign individual investors (indirectly through pension funds, etc. over 500,000 investors), with the absolutely high priority in December 2013 - but the decision has not been reached yet!
Other Related International Activities:
CONSTITUTIONAL COURT - VZMD also lodged a proposal for the temporary decree for PROHIBITING THE SALE OF Nova KBM bank - to prevent direct damage to the Republic of Slovenia and its citizens
STRESS TESTS – new and obvious proof of the extremely unequal adjudication of Slovenian banks – are they guilty in Brussels or Ljubljana, and what are their motives? The PanSlovenian Shareholders' Association (VZMD) has called on the Bank of Slovenia (BA) and the European Central Bank (ECB) to explain, why only in Slovenia are we left to use »static« and extremely pessimistic assumptions, while in other countries and banks of the EU fresh data and »dynamic« valuations are used and even allow for
Slovenian Constitutional Court acknowledges the legal interest of 293 initiators united by VZMD who demanded a constitutional review of the Banking Act (Ljubljana, January 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)
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)
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)
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.investo.international – More on the network of 55 national organizations of shareholders and investors