Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-06-15-Speech-2-483"
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"en.20100615.29.2-483"2
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"Madam President, we have seen a great deal of turbulence in the European markets in the last number of years, with many having suffered great losses. So, we must ensure that investors, especially retail investors, receive adequate protection within the European Union. Investors should be able to gain the information necessary to make informed decisions. Having a well-structured framework in place also makes the European market more secure and, therefore, attractive to serious investors.
The Prospective Directive has been fundamental in setting industry standards across the European Union, as has been the case with the UCITS Directive. Technical legislation that regulates this dynamic industry should frequently be reviewed, fine tuned and updated so as to ensure that it remains relevant and current. I agree that certain provisions within the directive were unnecessary and a number of obligations to which organisations must comply should be removed. The benefits that they give to the investor are negligible, while they place a significant burden on the business itself. The streamlining of definitions to avoid problems of interpretation in different Member States will also further streamline the sector.
Finally, I would like to congratulate our rapporteur, Mr Klinz, for his excellent work. I would also like to congratulate all the shadow rapporteurs. I believe that this report is well-balanced and proportionate."@en1
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