Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-431-125"
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"en.20110705.34.2-431-125"2
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"−
This is yet another report expressing concerns about the need to regulate certain aspects of how the financial sector operates. This time it seeks to improve conditions for protecting investors, either by increasing the value of the compensation guarantee or through the controls it seeks to introduce. However, what is proposes is frankly not enough. The report falls short of what is needed, as regards both sums and control actions. The Commission proposes just EUR 50 000 in compensation, while the figures for three Member States are already higher. Parliament proposes EUR 100 000, which is also being demanded by one Member State.
The report also contains some concerns regarding fraud, administrative negligence and operational errors by investment companies in the EU, whilst calling for financial supervision by national authorities. However, they are not going very far either. Whilst it is true that some aspects of regulation are improved, it is also true that the financial sector will seek other ways of continuing to maintain its profits. That is why we abstained from voting on the measures introduced."@en1
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