Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-06-15-Speech-2-482"
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"en.20100615.29.2-482"2
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"Abolishing the double transparency obligations and reducing the disclosure requirements for companies with reduced market capitalisation will generate estimated overall savings of EUR 110 million per year. The review of the Prospectus Directive will therefore help boost the competitiveness of small and medium-sized businesses in the European Union. We must not forget that small and medium-sized companies are the driving force of the European Union’s economy. They created 9.4 million jobs in the European Union between 2002 and 2008 and currently provide jobs for 90 million European citizens.
At the same time, financial transparency requirements need to be harmonised at European Union level in order to reduce the administrative burden on European companies. As a result, the newly created European Securities and Markets Authority will have to monitor the harmonisation of Member States’ legislations with regard to examining and approving prospectuses."@en1
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