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Draft law on capital markets, new rules for company reporting
2026-03-18 23:33:31 / EKONOMI&SOCIALE
The Ministry of Economy and Innovation issued for public consultation the draft law "On transparency requirements for securities issuers", which aims to create a complete legal framework to increase transparency and credibility in the capital market in Albania.
The draft law provides detailed rules for the publication, filing and access to regulated information by issuers whose securities are traded on regulated markets, aiming to provide investors with accurate, comparable and timely information on their performance and financial position.
The new legal framework regulates periodic financial reporting, ongoing information on the ownership structure and voting rights, as well as the manner in which this information is published and stored through official mechanisms. Any shareholder who reaches or exceeds certain thresholds of voting rights, starting from 5% and up, will be obliged to notify about this change. The aim is to make it more visible who actually controls companies and to avoid situations where influence is exercised covertly.
Another important aspect is the mandatory transition to electronic reporting in a standardized format in the coming years, in line with EU practices.
According to the explanatory report, the initiative aims to increase market transparency and integrity, reduce information asymmetry and the risk of abuse, and guarantee equal treatment for investors.
Another objective is to strengthen the powers of the Financial Supervisory Authority for monitoring, investigation and imposition of sanctions, increasing the effectiveness of market supervision.
The draft law comes within the framework of the approximation of Albanian legislation with that of the European Union, reflecting the requirements of the Transparency Directive and other relevant acts, as part of the European integration process. It also supports the development of capital markets as an alternative source of financing for the economy and aims to increase the confidence of domestic and foreign investors.
According to the document, the capital market in Albania remains in a development phase and is characterized by a limited number of issuers, which makes a unified and standardized framework for transparency necessary. In this regard, the draft law aims to create conditions for a more efficient functioning of the market, improved corporate governance and increased market discipline.
Its implementation is expected to bring benefits in investor protection and improving market price formation, although compliance costs are also expected for issuers, related to the preparation and publication of reports according to the new standards.
The draft law assigns the Financial Supervisory Authority the main role in its implementation and supervision, while also providing for the creation of mechanisms for the central storage and dissemination of information, in accordance with European practices.
According to the report, the initiative aims to create a more stable and reliable environment for the development of financial markets in the country.
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