Agenda Profile: Aivar Sõerd
First Reading of the Draft Act on Amendments to the Securities Market Act (690 SE)
2025-10-06
The 15th Riigikogu, 6th Session, Plenary Sitting
Political Position
The political position expresses strong support for the draft amendment to the Securities Market Act (690 SE), the primary goal of which is the diversification of the Estonian financial market and the reduction of banking dominance. The focus lies on the political balance between investor protection and the easing of administrative burden, specifically supporting the raising of the issuance threshold to 12 million euros. The overall approach is distinctly policy- and regulation-driven, concentrating on economic objectives.
2 Speeches Analyzed
Topic Expertise
The speaker demonstrates expertise in financial markets and securities regulation, utilizing technical terms such as the "prospectus exemption threshold" and "bank-centric market." He/She is capable of analyzing the four thematic clusters of the draft legislation and referencing specific data, such as the impact of Enefit Green on market volume. Furthermore, he/she emphasizes the need to strike a reasonable balance between investor protection and administrative burden.
2 Speeches Analyzed
Rhetorical Style
The rhetorical style is formal, neutral, and procedural, typical of a presentation delivered by a representative of the steering committee. The presentation is logical and fact-based, focusing on summarizing the commission's discussion, its decisions (which are consensus-based), and the technical content of the draft proposal. Emotional appeals are not employed; the emphasis is placed on rational justification and data.
2 Speeches Analyzed
Activity Patterns
The mode of operation is connected to legislative work, involving the representative of the leading committee appearing before the Riigikogu plenary session following the committee meeting on September 16th. This pattern encompasses the preparation of draft legislation, the summarization of debates, and the communication of consensus decisions.
2 Speeches Analyzed
Opposition Stance
The attitude is non-confrontational; the speaker does not criticize any group or individual. He treats the problems (e.g., low stock market volume, a banking-centric market) as systemic challenges that the draft bill seeks to resolve.
2 Speeches Analyzed
Collaboration Style
The style of cooperation is consensual and open, emphasizing that all decisions made by the Finance Committee regarding the draft bill were unanimous ("consensual"). Cooperation with representatives of the Ministry of Finance (Minister Jürgen Ligi and officials), who participated in the committee discussion, is also mentioned.
2 Speeches Analyzed
Regional Focus
The regional focus is clearly national, centering on the problems and regulations specific to the Estonian financial market. International comparison is also utilized (the US market, the European equilibrium point) to justify the legislation.
2 Speeches Analyzed
Economic Views
The economic views are strongly market-oriented and growth-promoting, stressing the necessity of diversifying corporate financing sources outside the banking sector. Support is provided for reducing the administrative burden and raising the issuance threshold in order to stimulate the capital market and increase overall stock market volume.
2 Speeches Analyzed
Social Issues
There is not enough data.
2 Speeches Analyzed
Legislative Focus
The legislative focus is currently on the draft amendment to the Securities Market Act (Bill 690 SE), regarding which the speaker serves as the representative and supporter for the lead committee. Priorities include raising the emission threshold to 12 million euros, easing language requirements, and reducing the administrative burden. The speaker is actively managing the legislative procedure, setting the deadline for submitting amendments as October 20th.
2 Speeches Analyzed