Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-416-000"
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"en.20110705.34.2-416-000"2
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"We agree with the need to improve the supplementary supervision of financial entities in a financial conglomerate.
Supervisors must be able to supervise mixed financial holding companies in a similar way to financial holding companies (banking sector) and insurance holding companies.
We also need to ensure that the European supervisory authorities issue general guidelines regarding the supervision of financial conglomerates through the Joint Committee; to improve the transparency of the supervisory activity on financial conglomerates, including through publication of the list and structure of the conglomerates; to define mixed financial holding companies and include them in supplementary supervision; to introduce stress testing at the level of each financial conglomerate; and to include alternative investment fund managers in the scope.
Lastly, we believe European coordination is needed to make these changes mandatory."@en1
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