Slovenian regulators to merge
Chris Hamblin, Editor, London, 24 October 2020
The Government of Slovenia has decided to combine the Agency for Financial Markets with the Insurance Supervision Agency.
The Securities Market Agency (Agencija za trg vrednostnih papirjev) supervises the market in financial instruments by exercising control over brokerage companies, banks (including private banks) that engage in investment transactions and services, management companies/mancos, investment funds and other things.
The merged regulators are to form a new public agency for financial markets. The Government, which announced this policy very suddenly, wants this body to take over some of the powers the Slovenian central bank.
Private banks are allowed to peform investment services and trades under the Banking Act, but not without permission from the Bank of Slovenia.