Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-10-Speech-3-162"
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"en.20101110.16.3-162"2
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"With tomorrow’s vote, the EU will be putting into practice what was agreed at the G20 in London. Following on from the agreement on financial supervision, the European Parliament and the Belgian Presidency have shown that they are serious about reforming the financial system. The agreement reached is balanced in that it meets three concerns: containing systemic risk, protecting investors and guaranteeing a level playing field. Also important is that the EU does not close off its market to non-EU capital, which is a prerequisite to enable our European economy to breathe. The new harmonised rules will ensure transparency, legal certainty and a reinforced internal market.
The European passport, in particular, will authorise managers to operate throughout the European Union without having to be registered separately in each Member State. I should also like to emphasise that I am pleased with the solution that has been found regarding private equity. The lighter regime applicable to the managers of small funds will promote the creation and financing of new companies – often SMEs – in innovative sectors. Therefore, we must support with conviction the political agreement that has come about following 14 months of negotiations."@en1
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