With Belgium aiming to conclude as many agreements as possible on financial dossiers in the first quarter of 2024 (see EUROPE 13324/15), the Member States’ finance ministers and the European Commission took stock of the current interinstitutional negotiations (‘trilogue’) at the Ecofin Council meeting on Tuesday 16 January.
With regard to the Listing Act, Belgian Finance Minister Vincent Van Peteghem has indicated that discussions with the European Parliament are focusing on structures with multiple voting shares.
A provisional political agreement on the financial aspects of this dossier was reached in December at the EU Council.
“This is about companies being allowed to use multiple vote shares.(…) This proposal is important because it will allow entrepreneurs to attain control over their companies and seek listing on the stock exchange”, said Mairead McGuinness, European Commissioner for Financial Services, estimating that an agreement on this point should be finalised on 29 January.
With regard to the negotiations on clearing services (EMIR regulation and directive on market infrastructures) (see EUROPE 13308/3), which resume on Wednesday 17 January, Ms McGuinness regretted the EU Council’s “lack of ambition” on the aspects relating to the supervision of financial entities and active accounts. The EU Council adopted its negotiating position on 6 December (see EUROPE 13308/3).
Finally, the Vice-President of the European Commission, Valdis Dombrovskis, stressed the importance of making progress on sustainable finance and investment in the retail sector.
With regard to theEU Retail Investment Strategy, Mr Van Peteghem said that Belgium intended to “pick up where the Spanish left off”. (Original version in French by Bernard Denuit)