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Bill: Financial Markets Act
Details
Submitted by[?]: Arbeiderpartiet (Labour Party)
Status[?]: passed
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: September 3904
Description[?]:
| An Act to provide for the regulation of financial markets |
Proposals
Article 1
Proposal[?] to change The government's position towards the stock exchange(s).
Old value:: Stock exchanges are allowed and are unregulated.
Current: Stock exchanges are allowed and are unregulated.
Proposed: Stock exchanges are allowed but are regulated.
Debate
These messages have been posted to debate on this bill:
| Date | 10:28:17, September 08, 2015 CET | From |  Arbeiderpartiet (Labour Party) | To | Debating the Financial Markets Act |
| Message | Mr Speaker, This government recognises that there is a place for the market in the Kazulian economy. It is essential that businesses are able to access the equity that they need to ensure their success. But it is not the case, Mr Speaker, that the market can be left entirely to itself. We know that financial markets are prone to dangerous feedback loops and speculative bubbles that occur whenever there is a burst of excessive and irrational optimism. Some members opposite may tell us that eventually the market will correct itself, and the price of stocks will fall and the foolish will suffer - it will teach them a lesson, they might say. But let them remember that it is not just wealthy speculators who have their money at stake. What is at stake is the capacity of millions of workers across this country to hold a decent job and to earn a decent wage, to put food on the family table and a roof over their family's heads. And when financial markets misbehave, that is the awful consequence, borne by those who are in no way responsible. As such, Mr Speaker, the proposal of this government is the responsible thing to do. We will regulate financial markets properly instead of pursuing an ill-advised and regrettable laissez-faire policy to ensure stable and sustainable economic growth into the future. Hanne Endal Minister of Finance Leader of the Labour Party |
| Date | 10:42:38, September 08, 2015 CET | From | Folkepartiet (People's Party) | To | Debating the Financial Markets Act |
| Message | Mr. Speaker, We agree with the Minister, and we congratulate her for such a measured approach - not so long ago, her party would no doubt have responded to these threats by appropriating the stock market to itself. As it stands, I believe there is very much a case for regulation, as there is in most areas of economic activity, but we must insist that such rules be made in the interests of all society, not for one sectional interest or the other. Ingbert Mathiassen Leader of the Opposition Leader of the Folkepartiet |
| Date | 11:30:18, September 08, 2015 CET | From | Kazuliansk Bondepartiet | To | Debating the Financial Markets Act |
| Message | Mr Speaker, We strongly support this proposed reform. Too many farming folk have suffered from the activities of 'futures' speculation with those locusts who hype up a market for temporary gain and it's long term players like farmers who suffer when the speculating rats have taken off with their illicit profits. Trond Norvik KBP Finance Spokesman |
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Voting
| Vote | Seats | |||||
| yes |
Total Seats: 113 | |||||
| no | Total Seats: 8 | |||||
| abstain |
Total Seats: 18 |
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