The VZMD President, Mr. Kristjan Verbič, is concluding a dynamic three-week international tour with active participation in a two-day session of the Financial Services User Group (FSUG) at the European Commission in Brussels. Today marks the second day of the FSUG meeting, during which several high-profile discussions & presentations were held.
During the first day FSUG meeting, Mr. John Berrigan, Director-General of the Directorate-General for Financial Stability, Financial Services & Capital Markets Union (DG FISMA), delivered a presentation on the European Commission’s priorities for financial services, followed by an engaging Q&A session. Mr. Verbič raised a question concerning the plans of the new European Commission to improve access to "simple and affordable savings and investment products" as outlined in the European Commission President’s Mission Letter. He emphasized the importance of increasing the participation of individual/retail investors in EU capital markets & stressed the need for competition among financial service providers, particularly by ensuring simple and affordable options for switching financial intermediaries.
In another session, VZMD President engaged with Mr. Andrea Marini, a specialist from the European Central Bank (ECB) on the accessibility of cash and banking services. Mr. Verbič expanded the discussion by advocating for EU-wide portability of bank account numbers, similar to the portability of telephone numbers, which are tied to the user - either a natural or legal person. Following Verbič’s more detailed explanations, Marini assured him that the issue and proposal would be escalated to relevant authorities within the ECB. Meanwhile, VZMD continues to invite all banking clients — individuals and businesses — who have faced challenges due to bank mergers, acquisitions, or forced changes to bank account numbers to submit detailed descriptions of their experiences, ideally with supporting documentation.
Today’s FSUG program also included an exchange with Ms. Daniela Bankier, Head of Unit at the Consumer Policy & Sustainability at DG Justice & Consumers, on consumer protection measures in foreclosure cases. With VZMD President she discussed a perspective, basic criteria, resources and struggle for existence of many NGO - Consumers Associations. Further discussions focused on Value for Money benchmarks in investment products, with insights presented by the European Insurance and Occupational Pensions Authority (EIOPA). Mr. Verbič’s active engagement highlighted VZMD’s ongoing commitment to ensuring consumer-friendly EU financial policies & promoting the interests of financial services users.
Mr. Verbič’s attendance at this FSUG session came after his participation in two consecutive governmental and business delegations in China and immediately following the inaugural session of the Consultative Working Group of the Investor Protection Standing Committee (IPSC) at the European Securities and Markets Authority (ESMA) headquarters in Paris. Between the two consultative groups meetings of EU institutions, VZMD President visited the European Parliament, attended several sessions and meetings, and met with Mr. Guillaume Prache, the longstanding Managing director and current Advisor of the European Federation of Investors & Financial Services Users (BETTER FINANCE) and President of France's largest association for individual investors and policyholders (FAIDER)...
www.vzmd.si – More on the VZMD – PanSlovenian Investors & Stakeholders 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 75 national organizations of shareholders and investors
