The cabinet adopted on Thursday a bill on the financial instruments market. According to Finance Minister Andrej Bajuk, the bill transposes four EU directives and tackles various transitional specifics of the Slovenian capital market.
The market for securities and other financial instruments is presently regulated by the securities market act. However, if it was amended with the four EU directives almost all articles would have to be tweaked, hence the decision for a fresh bill, Bajuk said. According to Bajuk, the main novelties of the comprehensive, 578-article bill include: expansion of regulated trading platforms, new provisions on real time disclosure of deals with shares, expansion of the portfolio of services offered by brokerages, new rules on carrying out orders, and changes to the way brokerages market their services. The bill also expands the array of tools available to the Securities Market Agency, giving it more breathing space for action and greater powers for the interpretation of regulations. The government is already drafting a new bill in this field. It will regulate the status of former authorised investment funds and is to be adopted later this year.