Agenda Profile: Mart Võrklaev
Draft law amending the Credit and Electronic Money Institutions Act and the Payment and Settlement Systems Act (634 SE) – first reading
2025-05-20
15th Riigikogu, 5th session, plenary sitting
Political Position
Supports the adoption of Draft Bill 634 SE, which is aimed at transposing European Union law. The political stance seeks to increase competition and innovation in the payment services market by allowing payment institutions direct access to central bank systems. This position is clearly driven by policy and regulation.
1 Speeches Analyzed
Topic Expertise
Demonstrates expertise in the operational procedures of the Financial Commission and in the presentation of legislation. Possesses a thorough understanding of payment services market regulations, including EU directives and regulations pertaining to payment institutions' access to central bank systems. Uses technical terminology such as "instant payments," "e-money institutions," and "correspondent accounts."
1 Speeches Analyzed
Rhetorical Style
The rhetorical style is formal, neutral, and strictly informative, which is characteristic of a committee rapporteur. It focuses on summarizing the committee's discussion, questions, and consensus decisions. It employs a logical and fact-based approach, avoiding emotional appeals.
1 Speeches Analyzed
Activity Patterns
The primary mode of operation is related to legislative work, involving the presentation of the Finance Committee's report during the first reading of the draft bill. [The subject] participated in the committee's work on May 6th and presented the report in the Riigikogu chamber on May 20th.
1 Speeches Analyzed
Opposition Stance
Does not express direct opposition to or criticize any political grouping. Activity is limited to forwarding questions from other committee members (e.g., Martin Helme) and summarizing the answers given to them.
1 Speeches Analyzed
Collaboration Style
Demonstrates a strong willingness to cooperate, emphasizing that all decisions made by the Finance Committee regarding the handling of the draft legislation were reached by consensus. Acts as the representative designated by the committee, which further indicates a readiness to collaborate with colleagues.
1 Speeches Analyzed
Regional Focus
The focus is clearly international and centered on the transposition of European Union law, citing the uniform application of the directive and the regulation across the whole of Europe. Examples from Europe (TransferWise, PayPal) are mentioned, along with Lithuania's earlier practice for comparison.
1 Speeches Analyzed
Economic Views
It supports economic measures that increase competition and innovation in the financial sector. It views positively the ability for payment institutions to execute payments without bank intermediation, which should lead to faster and more efficient services for consumers.
1 Speeches Analyzed
Social Issues
Not enough data.
1 Speeches Analyzed
Legislative Focus
The primary legislative focus is the deliberation of Draft Law 634 SE, concerning the amendment of the Law on Payment Institutions and E-money Institutions. He/She serves as the bill's proponent and the committee's rapporteur, chairing the first reading and setting the deadline for submitting amendments.
1 Speeches Analyzed