Ljubljana, 28 November (STA) - The government adopted on Thursday changes to the Banking Act, which transpose EU rules and aim to make provisions on loan companies clearer and credit rating oversight more effective in practice.
According to the Finance Ministry, the changes transpose the EU regulations on digital resilience, upgrading internal governance, business continuity plan requirements, risk assessment and reporting. New types of financial services that can be provided by banks are added in the crypto-asset markets section and the auditor's report on sustainability assurance is introduced.
The changes also introduce clearer provisions on loan companies, namely large investment firms, and clear provisions on the obtaining and withdrawal of their authorisation for providing these services.
In line with the changes, the European Central Bank's online portal can be used to submit an application as an important step towards digitisation. To avoid duplication of requirements for banks, the changes scrap the need for an additional audit review and an additional auditor's report on the bank's compliance with the risk management rules.
They also provide a legal basis for supervisory dialogue in the context of the supervisory letter.
The legal nature of the report on the preliminary findings of the bank inspection is regulated and the deadline is extended for issuing a decision on the correction of procedural deficiencies in requests for a permit to acquire a qualifying share.
The changes also say what actions the Bank of Slovenia may take in the period from the adoption of a decision on the liquidation or probable liquidation of a bank. The limitation period is extended, taking into account the complexity of the offence proceedings within the competence of the Bank of Slovenia.
