Il-Kumitat Ekonomiku u Finanzjarju tal-PE jadotta l-Pakkett tal-Listing Act ippreżentat minn Alfred Sant: L-ebda vot kontra

Il-Kumitat għall-Affarijiet Ekonomiċi u Monetarji (ECON) tal-Parlament Ewropew ivvota b’maġġoranza massiċċ favur, fi tliet voti separati, tal-Listing Act li għalih Alfred Sant huwa rapporteur f’isem il-Parlament Ewropew.

Il-listing huwa l-proċess li bih il-kumpaniji joħorġu ishma għall-bejgħ lill-pubbliku fil-boroż tal-ishma u mbagħad isegwu l-bejgħ u x-xiri li jsir tagħhom fis-swieq kapitali.

Wara l-vot, l-eks Prim Ministru Alfred Sant innota li l-Listing Act huwa programm imfassal biex jagħmilha aktar attraenti u anqas ta’ piż għall-negozji żgħar u medji Ewropej u kumpaniji oħra biex jiġbru fondi ta’ investiment billi joħorġu ishma. “Jagħmel dan partikolarment billi jnaqqas il-kumplikazzjonijiet assoċjati mal-listing, billi jiffaċilita l-konformità mal-kundizzjonijiet regolatorji u billi jawtorizza l-ħruġ ta’ Strutturi ta’ Ishma b’Voti Multipli”.

Il-Membri Parlamentari Ewropej fil-Kumitat għall-Affarijiet Ekonomiċi u Monetarji adottaw bidliet fil-leġiżlazzjoni tal-Unjoni Ewropea li jippermettu lill-kumpaniji jagħmlu użu minn sorsi ta’ finanzjament li ma jkunux biss fil-forma ta’ self bankarju u jadattaw l-istruttura ta’ finanzjament tagħhom skont kemm ikunu kibru fid-daqs. Ġew approvati wkoll ftehimiet politiċi provviżorji fuq id-Direttiva dwar is-Swieq fl-Istrumenti Finanzjarji (MiFID) u fuq it-testi tar-Regolament dwar is-Swieq fl-Istrumenti Finanzjarji (MiFIR). Dawn it-testi jistabbilixxu regoli għas-swieq tal-Unjoni Ewropea fl-istrumenti finanzjarji.

L-Ewroparlamentari Laburista Alfred Sant sostna li l-isfida ewlenija kienet li jiġu implimentati l-bidliet fil-leġiżlazzjoni Ewropea mingħajr ma titnaqqas il-protezzjoni tal-investitur. “Naħseb li lħaqna din l-isfida b’mod pjuttost tajjeb. L-emendi għad-Direttiva dwar is-Swieq fl-Istrumenti Finanzjarji, ir-Regolament dwar is-Swieq fl-Istrumenti Finanzjarji u r-Regolament dwar l-Abbuż tas-Suq (MAR) huma inklużi fl-Att, kif ukoll tfassil mill-ġdid tar-Regolament tal-Prospett u l-istabbiliment ta’ direttiva ġdida dwar Strutturi ta’ Ishma b’Voti Multipli. 

Sant saħaq li l-Listing Act huwa kundizzjoni meħtieġa biex il-proġett ta’ Unjoni tas-Swieq Kapitali jimxi ‘l quddiem iżda waħdu mhuwiex biżżejjed biex jirnexxi.

It-test li jemenda d-Direttiva dwar is-Swieq fl-Istrumenti Finanzjarji ġie adottat unanimament bi 53 vot. It-test li jemenda r-Regolament tal-Prospett, ir-Regolament dwar l-Abbuż tas-Suq u r-Regolament dwar is-Swieq fl-Istrumenti Finanzjarji ġie adottat bi 52 vot favur u kien hemm astensjoni waħda. It-test dwar l-Istrutturi ta’ Ishma b’Voti Multipli ġie adottat bi 43 vot favur u 10 astensjonijiet.

L-ECON qabel ukoll b’mod unanimu li jipproċedi b’negozjati hekk imsejħa ta’ trilogu bejn il-Kunsill Ewropew, il-Parlament Ewropew u l-Kummissjoni Ewropea dwar l-Att tal-listing mingħajr ma jkun meħtieġ li l-ewwel jittieħed vot fil-plenarja tal-Parlament Ewropew. L-għan huwa li tinkiseb approvazzjoni sħiħa tal-Att dwar il-listing qabel jintemm il-mandat attwali tal-Parlament Ewropew.

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Economic and Financial Committee of the EP adopts the Listing Act Package presented by Alfred Sant: No votes against

The Committee on Economic and Monetary Affairs (ECON) of the European Parliament voted massively in favour, in three separate votes, of the Listing Act for which Alfred Sant is rapporteur for on behalf of the European Parliament. 

Listing is the process by which companies issue shares for sale to the public on stock exchanges and then oversee the trading that takes place in their shares on the market.

Following the vote, former Prime Minister Alfred Sant noted that the Listing Act is a programme designed to make it more attractive and less burdensome for European SMEs and other companies to raise investment funds by issuing shares. “It does this in particular by reducing the complications associated with listing, by facilitating compliance with regulatory requirements and by authorising the issue of Multiple-Vote Share Structures”. 

MEPs on the Economic and Monetary Affairs Committee adopted changes to the European Union legislation that would enable companies to access funding sources other than bank lending and to adapt their financing structure when they grow in size. The provisional political agreements on the Markets in Financial Instruments Directive (MiFID) and on the Markets in Financial Instruments Regulation (MiFIR) texts were also approved. These texts will establish rules for the European Union’s markets in financial instruments. 

Labour MEP Alfred Sant claimed that the main challenge was to implement these changes to the European legislation without abating investor protection. “I think we have met this challenge quite well. Amendments to the Markets in Financial Instruments Directive, the Markets in Financial Instruments Regulation and the Market Abuse Regulation (MAR) are included in the Act, as well as a recast of the Prospectus Regulation and the establishment of a new Multi-Voting Share Structure directive. Sant stressed that the Listing Act is a necessary condition for the Capital Markets Union project to progress but it is not a sufficient one. 

The text amending the Markets in Financial Instruments Directive was adopted unanimously with 53 votes. The text amending the Prospectus Regulation, the Regulation on Market Abuse and the Regulation on Markets in Financial Instruments was adopted with 52 votes for and 1 abstention. The text on multiple-vote share structures was adopted with 43 votes for and 10 abstentions.

ECON also agreed unanimously to proceed with trialogue negotiations with the Council of Ministers on the Listing Act without it being necessary to first carry out a vote in the European Parliament’s plenary. The aim is to get full approval of the Listing Act before the end of the current mandate of the European Parliament.