Agenda Profile: Riina Sikkut

Draft law amending the Securities Market Act and, in consequence thereof, amending other laws (588 SE) – second reading

2025-05-14

15th Riigikogu, 5th sitting, plenary session

Political Position
The politician strongly supports measures aimed at improving gender balance, particularly within the governance bodies of listed companies and state-owned enterprises (SOEs), viewing this as a necessary, value-based step (idealist, feminist). She/He emphasizes that the representation of women in governance bodies in Estonia is exceptionally low (10–11%), and that no natural progress has occurred. She/He considers improving gender balance at decision-making tiers essential for society at large, enabling better decision-making. Although she/he supports the European compromise regarding listed companies, she/he would personally have preferred to start with the public sector.

25 Speeches Analyzed
Topic Expertise
The speaker demonstrates expertise in legislative procedures (the work of the Finance Committee, proposed amendments) and the transposition of European Union directives. They use statistical data regarding women's educational attainment (70% of higher education graduates) and representation in governing bodies (10–11%) to justify the necessity of quotas. They are also familiar with the opinions submitted by interest groups (the Bar Association, the Chamber of Commerce and Industry) and the subsequent amendments drafted based on those opinions.

25 Speeches Analyzed
Rhetorical Style
The style is confident, idealistic, and at times defensive, particularly when responding to questions regarding women's competence and the definition of gender. The speaker employs both value-based arguments (feminism, better decision-making) and statistical facts, while maintaining a formal yet passionate tone. She contrasts herself with "conservative cynics" and emphasizes that her goal is to introduce idealism into the discussion.

25 Speeches Analyzed
Activity Patterns
The speaker is acting as the rapporteur for the Finance Committee during the second reading of the bill, providing a detailed overview of the committee meetings (May 5th) and the procedural timeline. They are an active participant in the Q&A, offering 20 answers and clarifications. They also refer to their previous work in government, where the Social Democrats made progressive decisions.

25 Speeches Analyzed
Opposition Stance
The speaker sharply criticizes those who deem women less competent or whose attitudes obstruct competent women from reaching leadership positions. They reject the claims that quotas introduce incompetent individuals into boards and label such an attitude prejudiced. Furthermore, they systematically distance themselves from the topics of transgenderism being raised, considering them issues "imported from across the ocean" that have little relevance to the processes currently underway in Estonia.

25 Speeches Analyzed
Collaboration Style
The speaker emphasizes the consensus decision reached in the Finance Committee regarding the proposed amendments, supporting the deadline suggested by Chair Annely Akkermann. They mention the cooperation with the Ministry of Finance and various interest groups (the Bar Association, the Chamber of Commerce and Industry) during the process of refining the draft bill. The speaker acknowledges that compromises were made, particularly concerning the expansion of quotas for state-owned enterprises, which ultimately remained confined to the level of the ownership policy document.

25 Speeches Analyzed
Regional Focus
The focus is clearly on national legislation and the transposition of the European Union directive. Regional focus is absent; listed companies and state-owned enterprises are addressed more broadly.

25 Speeches Analyzed
Economic Views
Supports regulatory intervention aimed at improving gender balance in the governing bodies of listed companies (the 60:40 target), deeming this symbolically significant. They are against extending quotas to small companies (OÜs/Ltds), acknowledging the need to reduce outdated bureaucracy. They emphasize that regulations are necessary because gender balance has not improved spontaneously.

25 Speeches Analyzed
Social Issues
The main social issue is gender equality and the underrepresentation of women in governing bodies, which they are attempting to solve through a quantitative target. The speaker emphasizes that the bill addresses men and women (biological sex) and the underrepresented sex, rejecting discussions on transgender issues as irrelevant in this specific context. The speaker supports the Social Democratic Party's "striped lists" for improving women's representation in politics.

25 Speeches Analyzed
Legislative Focus
The legislative priority is the transposition of the EU directive aimed at improving gender balance in the management bodies of listed companies (Draft Bill 588 SE). He/She is a strong proponent of the bill and the committee rapporteur, focusing on clarifying the deadlines (first deadline: June 30, 2026) and the setting of targets (by the general meeting). He/She also mentioned the work of the special anti-corruption committee during the discussion of the Kert Kingo case, where he/she favored a collegiate and non-public procedural path.

25 Speeches Analyzed