Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-410-125"
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"en.20110705.34.2-410-125"2
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"The financial products that financial institutions have created over the years have not been properly regulated, and this contributed to the severe financial crisis that was triggered in the past. The absence of a regulatory framework for over-the-counter (OTC) derivatives also contributed to the financial crisis and its consequences. In view of this and in order to address concerns about financial stability, in September of last year the Commission presented a proposal to regulate this market. The amendments that have been adopted by Parliament today are principally aimed at improving transparency and managing risk in the OTC derivatives market, so that the same mistakes are not repeated in future, with the severe consequences of which we are all aware."@en1
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