Laqgħat u konsultazzjonijiet fit-tħejjija minn Alfred Sant tar-Rapport tal-Parlament Ewropew dwar liġi li tirregola l-ħruġ għall-bejgħ ta’ ishma minn kumpaniji

Bħala r-rapporteur tal-Parlament Ewropew għall-Att dwar kif kumpaniji joħorġu għall-bejgħ lill-pubbliku ishma fl-impriżi tagħhom propost mill-Kummissjoni Ewropea, l-eks Prim Ministru Alfred Sant huwa n-negozjatur ewlieni kemm għas-S&D kif ukoll għall-Parlament Ewropew fuq din il-proposta leġiżlattiva. Il-MPE Laburista nnota li l-Parlament Ewropew jinsab tard biex ilesti x-xogħol marbut ma’ dan il-file. Huwa wiegħed li ser jagħmel minn kollox biex l-Att isir qabel ma tintemm il-leġiżlatura attwali.

Il-proposta tal-Kummissjoni Ewropea hija parti mill-isforz tal-Unjoni Ewropea biex ittejjeb l-Unjoni tas-Swieq Kapitali u żżid l-interess fi swieq kapitali Ewropej. Dan se jsir billi tagħmel bidliet fil-qafas legali eżistenti billi tissimplifika l-proċess li bih kumpaniji joħorġu l-ishma tagħhom għall-bejgħ u b’hekk tħaffef l-aċċess għall-kapital għal negozji żgħar u medji. Il-ħruġ tal-ishma huwa dak li jiġri meta l-kumpaniji jbigħu l-ishma tagħhom fis-swieq tal-ishma Ewropej.

Bħala parti mix-xogħol tiegħu Sant mexxa sensiela ta’ laqgħat “one-to-one” ma’ atturi istituzzjonali differenti bħat-tim mill-Kummissjoni Ewropea responsabbli mit-tfassil tal-Att u dawk mill-Kunsill Ewropew tal-Ministri, kif ukoll ix-“shadow rapporteurs” oħra mill-Parlament Ewropew. Laqgħat oħra nżammu ma’ Rappreżentanti Permanenti mill-Belġju, il-Ġermanja, u Spanja flimkien ma’ partijiet interessati oħra inklużi lobbies, ditti legali, il-“European Securities and Markets Authority”, regolaturi nazzjonali tas-swieq tal-ishma, il-boroż jew “stock exchanges” fejn jinbiegħu l-ishma, assoċjazzjonijiet ta’ investituri u konsulenzi fis-settur finanzjarju.

L-abbozz tar-Rapport imħejji minn Alfred Sant dwar l-Att dwar kif kumpaniji joħorġu għall-bejgħ lill-pubbliku ishma fl-impriżi tagħhom ġie ppubblikat fid-19 ta’ Ġunju. L-ewwel “shadow meeting” kienet skedata li ssir fl-4 ta’ Lulju. Matul is-sajf irid isir ħafna xogħol fuq l-emendi li se jkunu qed jitressqu minn deputati Ewropej. 

Hu ttamat li sa l-ewwel ġimgħa ta’ Novembru tkun tista’ ssir votazzjoni fuq l-abbozz ta’ Rapport kif se jiġi emendat fil-kumitat ekonomiku u finanzjarju tal-Parlament Ewropew. Ser tkun skeda stretta ħafna.

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Alfred Sant meeting different stakeholders to revise Listing Act

As rapporteur for the Listing Act being proposed by the European Commission, former Prime Minister Alfred Sant is the lead negotiator for both the S&D and the European Parliament on this legislative proposal. The Labour MEP noted that the European Parliament is running rather late on the file, and he pledged to do his best to get the act done before the current legislative term is over. 

The European Commission proposal is part of the European’s effort to enhance the Capital Markets Union (CMU) and increase the appeal of European capital markets. By making changes to the existing legal framework, the European Commission aims to simplify the requirements for listing and post-listing, with the goal of attracting more European companies to public markets and specifically facilitating access to capital for SMEs. Listing is what happens when companies sell their shares on European stock markets.

As part of his assignment Sant carried out a series of one-to-one meetings with different institutional players such as the team from the European Commission responsible for drawing up the Act, as well as those from the European Council of Ministers and other shadow rapporteurs from the European Parliament. Besides, he participated in direct meetings with Permanent Representations from Belgium, Germany, and Spain plus other stakeholders including lobbies, law firms, European Securities and Markets Authority, the European Regulators of Securities Exchanges, national regulators of stock markets, stock markets, associations of investors and consultancies in the listing sector.

The draft Report on Listing Act was published on June 19^th. The first shadow meeting was scheduled to take place on July 4^th with much preparatory work on the amendments that will be presented to it to be done during the summer. 

It is hoped that a vote on the draft Report as will be amended can take place in the economic and financial committee of the European Parliament by the first week of November. It is a very tight schedule.