VZMD, the Pan-Slovenian Shareholders’ Association and BETTER FINANCE member, filed three lawsuits in the name of 349 owners against three Slovenian banks. The lawsuit calls for the nullification of the simplified reduction and simultaneous increase of the banks’ nominal capital, by whithin all the owners of subordinated bonds and shares of these banks have been
JPMorgan Chase has agreed to pay $ 2.6 billion to settle criminal charges for ignoring obvious warning signs of Bernard Madoff’s massive Ponzi scheme: $1.7 billion to the Department of Justice, $350 million to the Office of the Comptroller of the Currency, $325 million to Irving Picard, the trustee for the Madoff bankruptcy, and $218
Following similar announcement by the Banque de France and the Chinese Central Bank, the European Banking Authority warned today of the risks consumers run by using virtual currencies such as Bitcoin. In a formal warning on a series of risks deriving from buying holding or trading virtual currencies such as Bitcoins, the European Banking Authority
According to a new research by Evercore Pan-Asset, investment managers of UK pensions funds are “wasting” more than 6 billion pounds a year by investing in actively managed equity, bond and property funds rather than cheap and better performing passive funds. The greater difference between the average gulf passive and active and the fees alone
Protests broke out in front of the Central Bank of Spain in reaction to the repeated abuse by banks and the fraud at the heart of the financial system. At the core of the protests is the Bankia case. In 2011, 347.000small investors bought Bankia shares for pension investment purposes. When about a year later
Whereas hedge funds performed comparatively well during the financial crisis, the unstable post-recovery market has seen equity hedge funds producing profits of less than 15 per cent. According to data ranging from 2010 to 2013 hedge funds did not manage to beat overall stock markets and mutual funds’ performance. Equity hedge funds have produced just
On 17 May, the European Bank Authority launched a Call for expression of interest to prepare a renewal of its Banking Stakeholder Group (BSG), which has been established to help facilitate EBA’s consultation with stakeholders. The ‘Call for expressions of interest’is open to candidates representing stakeholders across the European Union. The deadline for application is
At the EuroFinUse General Assembly, on 25 March 2013, Jean Berthon was elected as President to head the one and only organization dedicated to defend the rights of financial users. On January 1st 2013, Euroshareholders and EuroFinUse – the two European organizations representing individual shareholders, investors, savers and other financial services users – merged to
EU commissioner Algirdas Šemeta has described the European council’s decision to introduce a financial transaction tax (FTT) as a "major milestone". The council’s decision, adopted on Tuesday 22 January, authorises 11 member states to push ahead with implementing an FTT through "enhanced cooperation", and it now falls on the commission to make a proposal defining
EuroFinuse will present the views of financial services users on ‘sales practices and disclosure for long-term products’ at the upcoming CEPS conference on "Supporting long-term investing and retirement savings" which will take place on 7 December 2012 in Brussles. The conference is the second meeting of the CEPS-ECMI Task Force that aims at fostering the