Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-09-23-Speech-2-324"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2003-09-23"^^xsd:date2
dcterms:Is Part Of	lp_eu:Investment services and regulated markets2
dcterms:Language	"sv"^^xsd:language2
lpv:document identification number	"en.20030923.11.2-324"2
lpv:hasSubsequent	lp_eu:2003-09-23-Speech-2-3252
lpv:speaker	lp:Olle Schmidt2
lpv:spokenAs	member; Delegation for relations with Japan (2002-02-07--2004-07-19)3 member; ECON (2002-01-17--2004-07-19)3 substitute; Committee on Women's Rights and Equal Opportunities (2002-01-17--2004-07-19)3 member; ELDR (1999-07-20--2004-07-19)3 member; Delegation to the EU-Slovak Republic Joint Parliamentary Committee (2002-02-07--2004-04-30)3 unknown; Folkpartiet liberalerna (1999-07-20--2004-07-19)3 substitute; Committee on Citizens' Freedoms and Rights, Justice and Home Affairs (2002-01-17--2004-07-19)3
lpv:translated text	"Mr President, I want to congratulate the rapporteur on an exceptional piece of work. She has managed to piece together a sustainable compromise against all the odds. At present, the stock exchanges within the EU have a near monopoly on dealing in securities, especially in certain national markets. Now, we are obtaining competition and freedom of choice and, Mr Katiforis, sound protection of investors. I want briefly to comment on the two sensitive articles, namely Articles 18 and 25. Where Article 18 is concerned, we think it important that the suitability test be reserved for services where advice is given and not, for example, Internet-based dealing in securities. These clients have consciously chosen a brokerage service in which they will have no need to pay for professional advice. That would just be more expensive. We shall therefore vote in favour of the committee’s Amendments Nos 53, 54 and 55. The most discussed article in the proposal is Article 25, which deals with the internalisation of trade and the publication of price information prior to transactions that take place outside the regulated markets or MTF platform. We view this as rather risky. It would reduce liquidity on the market and increase costs. There has not been sufficient political support for the removal of this article, but we think that the committee’s Amendments Nos 33, 86, 87, 88 and 89 should remove the negative effects that the proposed rules on the publication of prices would have on the market. Finally, I should like to ask why we are debating as important a proposal as this so late in the evening."@en1

Named graphs describing this resource:

The resource appears as object in 2 triples

Context graph