Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-11-Speech-3-376-140"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20110511.28.3-376-140"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spoken text |
"Poor corporate governance in financial institutions – and particularly banks’ murky pay culture – was a key factor in creating the conditions for the financial crisis. Labour Euro MPs backed this report which, thanks to amendments adopted at the committee stage, calls for Commission action to raise financial firms’ corporate governance standards. These demands include stronger oversight of risks that a firm takes on, high standards of independence and diversity for members of firms’ boards, including better gender balance and, crucially, transparency around pay, so shareholders and the public can hold banks to account. As the Conservative-led government in the United Kingdom has shelved legislation on transparency introduced by the previous Labour Government, I welcome the inclusion of my proposal to introduce such a requirement at the EU level.
Labour Euro MPs opposed the rapporteur’s amendments to weaken the committee report, including a lower requirement for representation of women, a slower timetable for action on pay reform and less information on staff pay. The Commission must now complete its consultation and swiftly bring forward ambitious proposals to ensure that governance of financial firms will help prevent, not facilitate, future crises."@en1
|
| lpv:spokenAs | |
| lpv:unclassifiedMetadata |
Named graphs describing this resource:
The resource appears as object in 2 triples