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Ordinary legislative procedure First reading

Multiple-vote share structures in companies that seek the admission to trading of their shares on an SME growth market

A proposed EU law. Parliament and the Council must agree on the same text: Parliament adopts its position, then negotiates with the Council.

Where it stands: Completed: published in the Official Journal on 14 November 2024 and now EU law.

  1. ✓ Referred to committee 1 February 2023
  2. ✓ Committee work Report adopted 24 October 2023
  3. ✓ Tabled for plenary 26 October 2023
  4. ✓ Negotiations with the Council Deal approved in committee 22 February 2024
  5. ✓ Plenary vote Adopted 24 April 2024
  6. ✓ Published as law 14 November 2024
How a file moves through Parliament

A file is referred to one lead committee (others may give an opinion). Its rapporteur writes a draft report, committee members table amendments, and the committee votes to adopt the report. The report is then tabled for all MEPs; political groups can table further amendments, which are voted on before the final vote in plenary. For a law, Parliament’s adopted text is its first-reading position; Parliament and the Council then negotiate a common text (trilogues) which both must approve before it is published as law.

Who is working on it

Lead committee
ECON — Economic and Monetary Affairs
Rapporteur
MEP #124781 S&D
Shadow rapporteurs
Inese VAIDERE PPEMEP #204420 Verts/ALEJohan VAN OVERTVELDT ECRMEP #197799 IDMEP #28586 The LeftMEP #237320 Renew

The rapporteur drafts and negotiates the text for the lead committee; each other political group names a shadow rapporteur to follow the file.

The text, version by version

Adopted by Parliament · latest Adopted text TA9-0352/2024 24 April 2024 ✦ Parliament adopted its first-reading position on a proposed directive on multiple-vote share structures in companies seeking admission to trading on an SME growth market.⇄ what changed Tabled for plenary Report A9-0300/2023 26 October 2023 ✦ Parliament's amended version of a proposed directive on multiple-vote share structures in companies seeking admission to trading on an SME growth market, a regulated market or any other multilateral trading facility.⇄ what changed Committee draft Draft report (ECON) 14 June 2023 ✦ The draft report proposes Parliament's position on a directive on multiple-vote share structures for companies seeking admission to trading on an SME growth market. It widens the scope to regulated markets, sets safeguards for non-multiple-vote shareholders, requires disclosure and a 'WVR' stock marker, and shortens review and transposition deadlines.

Committee opinions: Draft opinion (JURI),Opinion (JURI)

Newest version first. Open a version to read it in full. “What changed” shows the differences paragraph by paragraph; ✦ lines are AI-written from the texts themselves.

Timeline

  1. Outcome
  2. 14 November 2024 Published in the Official Journal

    The act is now EU law.

  3. 23 October 2024 Signed by the Presidents of Parliament and the Council

    The last step before the act is published in the Official Journal.

  4. Plenary stage
  5. 24 April 2024 Plenary vote
    Sitting of 24 April 2024 📄 Adopted text TA9-0352/2024📄 Report A9-0300/2023
    Adopted Adopted by a clear majority
    For 353 Against 118 Abstained 114

    Final vote on the provisional agreement at 18:34 · 60% of votes cast in favour · every MEP’s position →

  6. Negotiations with the Council
  7. 22 February 2024 Committee approved the deal reached with the Council

    The provisional agreement from the trilogues goes to the whole Parliament for a vote.

    📄 ECON-AG-759030
  8. 9 November 2023 Plenary endorsed the mandate to negotiate with the Council

    Parliament’s negotiators can now seek a compromise text with the Council (in “trilogues”).

  9. Plenary stage
  10. 26 October 2023 Report tabled for plenary

    This is the text all MEPs vote on. Political groups can still table amendments to it.

    📄 Report A9-0300/2023
  11. Committee stage
  12. 24 October 2023 Committee vote: report adopted

    ECON (Economic and Monetary Affairs) voted on the amendments and adopted the report that goes to plenary.

  13. 19 September 2023 JURI (Legal Affairs) adopted its opinion

    The opinion is attached to the report for the lead committee to consider.

    📄 Opinion (JURI)
  14. 11 July 2023 Amendments tabled in committee

    Members of ECON (Economic and Monetary Affairs) proposed changes to the draft.

    📄 Amendments in committee (ECON)
  15. 3 July 2023 Draft opinion from JURI (Legal Affairs)

    An associated committee gives its view to the lead committee.

    📄 Draft opinion (JURI)
  16. 14 June 2023 Draft report published

    The rapporteur’s first text in ECON (Economic and Monetary Affairs). Members can table amendments before the committee votes.

    📄 Draft report (ECON)
  17. 1 February 2023 Referred to the ECON (Economic and Monetary Affairs) committee

    The lead committee prepares Parliament’s report.