Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-29-Speech-4-317-875"
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"en.20120329.36.4-317-875"2
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"In order to be able to ensure better and stricter regulation of derivatives markets, account must be taken of the particular situation of enterprises that are dependent on continuing to cover their financial and operational risks through favourable, tailor-made derivatives. As already pointed out by the Commission earlier, it is especially over-the-counter (OTC) derivatives that contribute to the emergence of financial disturbances, seeing as how they enabled the increase in leverage and have led to increased dependency between market participants. This is one of the reasons why I support the guiding principle of the report that future legislative proposals concerning derivatives should follow a functional approach. It must therefore be emphasised that there is a necessity for European regulation in respect of derivatives. This is why we call on the Commission to coordinate the procedure as much as possible with Europe’s partners in order to ensure that regulation is as uniform and internationally coherent as possible. All this must, of course, be implemented in such a way as to avoid regulatory arbitrage resulting from inappropriate coordination. Finally, I would like to congratulate the rapporteur and thank him for his thorough work and open-mindedness. I believe that this work has resulted in an excellent report."@en1
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