On Wednesday, Dublin hosted an important convention of the European Securities Exchanges (FESE) attended by over 300 important representatives of European institutions and financial industry, decision-makers and experts from 31 countries. The current expert discussion primarily addresses the role of stock exchange and capital markets, the influence of the MiFID II/MiFiR financial market reform and Brexit, the European future and strategic need for a sustainable union of capital markets.
At the organizers' invitation, this important event is attended for the third time by the VZMD President Mr. Kristjan Verbič. On the Tuesday night gala reception, Mr. Verbič took the opportunity to engage in discussions about the proposals and efforts from the VZMD and Better Finance, where he is a member of the Executive Board. Mr. Verbič spoke to the President of the European Securities and Markets Authority (ESMA) Mr. Steven Maijoor, who was the keynote speaker at the reception, the State Secretary at the Ministry of Finance in Ireland Mr. Michael W. D'Arcy, the Better Finance Managing Director Mr. Guillaume Prache, the FESE President Mr. Petr Koblic, Head of the Directorate-General for Financial Stability, Financial Services and Capital Markets Union at the European Commission Mr. Olivier Guersent, Director of the financial markets division at the European Commission Mr. Ugo Bassi, and numerous other FESE representatives, directors of European stock exchanges and regulatory authorities.
Through the discussions, Mr. Verbič also addressed the VZMD and Better Finance warnings regarding the non-compliance of the Slovenian Financial Instruments Market Act (ZTFI) with EU Directive no. 909/2014, which represents a hazard which could lead to the final destruction of the individual possession of securities in Slovenia. Additionally, he discussed the VZMD proposal to establish the European Tribune institute i.e. an Ombudsman for the economic rights in the EU, the unsuccessful efforts to resolve the issue of expropriated investors in Slovenian banks and the pertaining unconstitutionality, and the current changes of the Book Entry Securities Act (ZNVP-1B) where its authors failed to listen to constructive and well-supported suggestions prepared by the VZMD (in collaboration with Slovenian Consumers' Association).
Mr. Verbič had also discussed these issues with some of the attendees of the annual congress of the European Business Angel Network (EBAN) in Helsinki, before he traveled to Dublin.
