Agenda Profile: Aivar Sõerd
Draft law amending the Securities Market Act and, as a consequence, amending other laws (regulation of derivatives and repo transactions) - first reading
2025-05-20
15th Riigikogu, 5th session, plenary sitting
Political Position
The political focus is on enhancing the competitiveness of the economic environment and aligning financial regulation with international best practices. The core objectives of the draft bill (633 SE) are strongly supported, with emphasis placed on its positive effect on entrepreneurs' access to international markets. One parliamentarian, however, expressed caution regarding the transition to a statistical model for real estate valuation, citing the unique characteristics of the Estonian market and its scattered settlement patterns. The overall framing is clearly policy-driven and results-oriented.
2 Speeches Analyzed
Topic Expertise
Strong expertise is demonstrated in financial regulation, particularly concerning derivatives and repo transactions, and financial crisis resolution. Specific technical terminology is employed, such as netting requirements and EU regulations on green bonds. Furthermore, knowledge of real estate valuation standards and the complexity of implementing statistical models in a small market is evident.
2 Speeches Analyzed
Rhetorical Style
The style of address is highly formal, businesslike, and procedural, particularly for the commission's rapporteur, who focuses on conveying facts and consensus-based decisions. The arguments are logical and grounded in the substance, objectives, and international practice of the draft bill. The tone is neutral and analytical, avoiding emotional or personal appeals.
2 Speeches Analyzed
Activity Patterns
The operational pattern is closely linked to legislative work, encompassing participation in the Finance Committee session (May 6) and the reporting of its results to the plenary session (May 20). The speaker serves as the representative of the lead committee, ensuring the smooth passage of the draft bill. The activity is rhythmic and centered on meeting deadlines (such as the June 3 deadline for submitting amendments).
2 Speeches Analyzed
Opposition Stance
There are no direct opponents or specific groups being criticized. A technical question has been raised to the Ministry of Finance concerning the adequacy of the real estate valuation model, which is more an expression of caution than outright opposition. The criticism is aimed more at the technical details of policy implementation rather than the overall objective of the draft bill.
2 Speeches Analyzed
Collaboration Style
The style of cooperation is consensual and collegial, emphasizing the unanimous decisions made by the Finance Committee during the processing of the draft bill. Cooperation with representatives of the Ministry of Finance (the Minister and officials) is close and detailed, focusing on clarifying the content of the bill and answering questions.
2 Speeches Analyzed
Regional Focus
The focus is both domestic and international, centered on enhancing the competitiveness of Estonian financial institutions and the overall business environment in the global market. Attention is also given to the specific characteristics of the Estonian market—namely, its small size and scattered settlement—within the context of real estate valuation, which necessitates a specialized approach.
2 Speeches Analyzed
Economic Views
The economic outlook is strongly market-oriented and focused on improving regulation to boost the competitiveness of Estonian businesses and enhance their access to international markets. There is support for reducing transaction costs and implementing measures to prevent financial crises. The text also mentions the regulation of green bonds, indicating an openness toward sustainable financing.
2 Speeches Analyzed
Social Issues
There are no social issues, apart from the technical aspect of making the procedure for appraising real estate used as collateral for housing loans more flexible. This topic has been addressed purely from a regulatory and cost-reduction perspective.
2 Speeches Analyzed
Legislative Focus
The primary legislative focus is on the draft bill (633 SE) amending the Securities Market Act, which aims to enhance the regulation of derivative and repo transactions. Also of significance is the increased flexibility in real estate valuation procedures and the expansion of the supervisory powers of the Financial Supervision Authority. The speaker is a proponent of the bill and a representative of the lead committee, currently finalizing the procedural steps.
2 Speeches Analyzed