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In the run-up to the European Parliament's vote on the European Listing Act package, Eumedion asks attention for the importance of investor protection. This follows from the statements sent today by Eumedion about the proposals in this area.

In December 2022, the European Commission published a series of proposals to make public markets more attractive to EU companies and to facilitate access to capital for small and medium-sized enterprises. In March of this year, Eumedion submitted three statements which, in short, indicate that Eumedion generally supports the proposals from the European Listing Act package and believes that these proposals should not go at the expense of investor protection. The European Parliament's rapporteur has published draft reports on the proposals in the European Listing Act package and several Members of the European Parliament have tabled amendments to those reports. In the run-up to the European Parliament's vote on the proposals from the European Listing Act package, Eumedion has once again asked attention for the importance of investor protection.

Against this background, Eumedion reiterates the message that the European Commission's proposal to make it possible for certain companies to issue shares with multiple voting rights is unnecessary and undesirable. Eumedion points out that it is not in favour of expanding the aforementioned option to companies that seek a listing on a regulated market. If the European legislators do proceed with the proposal, Eumedion supports the amendments that provide additional safeguards for shareholders in both companies that introduce multiple voting rights and those that already have them. In addition, Eumedion indicates that it is not in favour of increasing the limit for the prospectus exemption for secondary issuances, of the proposals that will reduce the ability to monitor market abuse and of the proposals that would reverse the increase proposed by the European Commission of the limit for application of the 'unbundling rules'. Furthermore, Eumedion supports the proposals that ensure that investors are better protected, that the prospectus gains information value, that maintain the scope of the current obligation to disclose inside information and that give ESMA a central role in developing a single European code of conduct regarding issuer sponsored research.