2 Amendments of Danuta Maria HÜBNER related to 2022/0405(COD)
Amendment 21 #
Proposal for a directive
Recital 6 a (new)
Recital 6 a (new)
(6 a) Shares in SMEs are often illiquid as they have a smaller market capitalisation, a narrower investor base, and a lower trading volume. Issuers should therefore be given the opportunity to maximise their access to capital by having their instruments available for trading for the greatest number of investors, whilst needing to be protected if being traded on another trading venue would subject them to additional disclosures obligations or responsibilities. Member States should therefore be able to require that, until the consolidated tape for shares and ETFs is established, a share of an issuer which is admitted to trading on an SME growth market may also be traded on another trading venue that imposes new obligations or responsibilities on the issuer only if the issuer has been notified and has not objected. Where admission to trading on another venue does not impose any new obligations or responsibilities, no such notification will be required.
Amendment 52 #
Proposal for a directive
Article 1 – paragraph 1 – point 3 – point c a (new)
Article 1 – paragraph 1 – point 3 – point c a (new)
Directive 2014/65/EU
Article 33 – paragraph 6 a (new)
Article 33 – paragraph 6 a (new)
(c a) the following paragraph is inserted as follows: '6a. Member States shall require that a share of an issuer which is admitted to trading on an SME growth market may also be traded on another trading venue that imposes new obligations or responsibilities on the issuer only if the issuer has been notified and has not objected. Where admission to trading on another venue does not impose any new obligations or responsibilities, the notification as referred to in the first subparagraph shall not be required. For shares, the requirements as referred to in the first and second subparagraphs of this paragraph shall only apply until the consolidated tape for shares and ETFs, as referred to in Regulation (EU) 600/2014, is operational.’