Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-431-093"
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"en.20110705.34.2-431-093"2
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The purpose of this proposal is to protect private investors so that they can save with confidence. Compensation is a last resort and should be the same for everyone. Protection of investors means protection of consumers. Prevention mechanisms are always preferable. Indeed, the Member States should establish a dialogue framework to detect problems at an early stage and report problems such as dysfunctional market practices, conspicuous providers, products or company structures to supervision and investor compensation schemes. This requires the Member States to encourage an institutionalised dialogue between consumer protectors, authorities, supervisory authorities and investor compensation schemes to prevent further compensation cases. I would argue that coverage levels for guaranteeing deposits should be changed to EUR 100 000 instead of the EUR 50 000 proposed by the Commission. In order to be able to recover the funds paid for compensation, schemes making payments to compensate investors for failure of a depositary or a third party should have the right of subrogation to the rights of the investor or investment firm in liquidation proceedings for amounts equal to their payments."@en1
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