”’Miodrag Jandrić”’ is the president of Republic od Srpska Securities Commission. He was born 24.05.1969. in Jajce, Bosnia and Herzegovina). He graduated on the Faculty of Economics at [[Banja Luka]] in 1994. He began working for the Faculty of Economics in 1996 as an Assistant lecturer on Statistical Analysis.
He worked on a [[USAID]] project on legal and regulatory reform of accounting and auditing (LRRP) in the capacity of an expert associate. During this period, he delivered several lectures in financial management within territory of [[Republic Srpska]] and [[Bosnia and Herzegovina]].
Jandrić has worked for the [[Republic of Srpska Securities Commission]] since its founding in 2000. He was the member of RS Securities Commission from 2002 to 2005. In the October 2005, he was appointed President of the RS Securities Commission.

During Jandrić’s work in SEC, Constitutional Court of RS acknowledged in november of 2008. that SEC’s rules of supervision over brokerage houses contained unconstititutional claims and procedures regarding retreieving and access to data from brokerage houseOfficial gazette RS, from 16.11.2008. . According to that rules, SEC was able to gain access over all of data, in electronic and paper format, in supervised brokerage house, regardless of case being investigated. That was linked to Jandrić because during this presidency SEC brought such act on power. Constitutional Court of RS denied such claims and subscribed that SEC can strictly gain access to only those documents of brokerage house that are linked to the specific case that SEC is investigating. In addition, Constitutional Court gave an obligatory opinion that SEC must act accordingly and in respect to the Criminal law of RS.

Jandrić is well known about liberal politics of SEC during the largest corporate scandals in RS. SEC never have had no reaction, commentary or opinion on main three corporate adventures in RS:
1. on joint-venture of RITE ad Gacko (mine and powerplant Gacko), BLSE: RITE-R-A , with Czhezch state-owned power utility company ČEZ,
2. on case of Rafinerija nafte ad Bosanski Brod (oil rafinery Bosanski Brod), BLSE: RNAF-R-A, about selling of state-owned stock to the russian Zarubeznjeft (subsidiary of Neftegazincor)
3. on business policy and using transfer prices in order to pump net income out from the main company, Birac ad Zvornik, to it’s connected companies in Bosnia and overseas.

In both three cases small shareholder’s rights were seriously declined, and, as a result, Banja Luka Stock Exchange suffered great decline in it’s indices (80% fall in one year), and of turnover, which, in january of 2009., was some 10% of its average in january of 2007.

SEC, with Jandrić as a president, failed to protect rights of minor shareholders in those three companies, and in number of other, smaller ones.

Jandrić is also know on his policy of pressure on brokerage houses. While he was liberal on RS’s goverment moves on capital market, he was very restrictive to privately owned brokerages in RS. That ultimatively lead to temporarily closing some brokerages and constant pressure on it’s licenced staff. SEC, under Jandrić’s presidency, repeatedly accused brokerage houses that they, in account of some of their clients, manipulated with prices of certain shares, allegedly causing the price to drop, and then would follow the takeover process of brokerage house’s client over target share. It is unclear, if those quotes from SEC were correct indeed, why the SEC gave approval for takeover of allegedly manipulated share, and later accused brokerages for manipulation.

During Jandrić’s leading of SEC, there is no official financial reports of SEC available on their site. There is available only yearly overview of RS’s capital market but no financial reports of SEC.http://www.sec.rs.ba/OKomisiji//Informacije.aspx?id=4

During Jandrić’s leading of SEC, SEC consists of only four membershttp://www.sec.rs.ba/OKomisiji/Informacije.aspx?id=3, while Capital market law RS subscribes that there should be five members totalhttp://www.blberza.com/cms2filecache/files/cms2/docver/5035/files/Securities_Market-Law_en-US.pdf article 246.: three members, president, and president’s deputy. That means that there is no person that could replace president Jandrić during his absence, and, also, law subscribes that SEC should make decisions by voting on SEC’s meetings. According to Capital market law of RS, SEC must make decisions by majority voting, and no member can refrain from votinghttp://www.blberza.com/cms2filecache/files/cms2/docver/5035/files/Securities_Market-Law_en-US.pdf article 252.. Since there is only four members under Jandrić’s presidency over SEC, it is unclear how the decisions were made if there is situation when two members vote for some decision and other two against it.

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[[Category:Bosnia and Herzegovina economists]]

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