Financial Crime World

Financial Statements Audited: A Look into Slovenia’s Fintech Industry

In a move to ensure transparency and accountability, financial statements of fintech companies operating in Slovenia are audited by certified auditors. This added layer of scrutiny provides stakeholders with confidence in the accuracy and reliability of the financial information.

Regulatory Landscape


The fintech industry in Slovenia is subject to review by multiple authorities, including:

  • Tax authorities
  • Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) authorities
  • Market Inspectorate
  • Information Commissioner
  • Public Agency for the Protection of Competition
  • Securities Market Agency

These regulatory bodies ensure compliance with relevant laws and regulations, safeguarding the interests of consumers and investors.

Payment Processors


Payment processors in Slovenia operate within a complex regulatory framework that includes:

  • Cross-Border Payments Regulation (CBPR)
  • SEPA Regulation
  • Payment Services Act

These regulations facilitate cross-border payments and remittances, ensuring safe and secure operations for all payment rails.

Fund Administrators


Investment funds in Slovenia are regulated by the Securities Market Agency, with fund administrators subject to:

  • Licensing requirements
  • Annual reporting obligations

The Alternative Investment Fund Managers Act governs alternative investment funds (AIFs), while undertakings for collective investment (UCITS) fall under the Investment Funds and Management Companies Act.

Contractual Terms


Fund advisers seeking to impose contractual terms on fund administrators must comply with:

  • Industry custom
  • General rules of contract law

These agreements typically outline the rights and obligations of both parties, ensuring transparency and accountability in their relationship.

Conclusion

Slovenia’s fintech industry operates within a robust regulatory framework that ensures financial statements are audited, payment processors operate safely and securely, and fund administrators are subject to licensing requirements and reporting obligations.