Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-25-Speech-4-360-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2012-10-25"^^xsd:date2
dcterms:Is Part Of	lp_eu:Markets in financial instruments and repeal of Directive 2004/39/EC - Markets in financial instruments and amendment of the EMIR Regulation on OTC derivatives, central counterparties and trade repositories (debate)2
dcterms:Language	"sv"^^xsd:language2
lpv:document identification number	"en.20121025.28.4-360-000"2
lpv:hasSubsequent	lp_eu:2012-10-25-Speech-4-361-0002
lpv:speaker	lp:Olle Schmidt2
lpv:spokenAs	substitute; Delegation for relations with Switzerland and Norway and to the EU-Iceland Joint Parliamentary Committee and the European Economic Area (EEA) Joint Parliamentary Committee (2010-11-22--2014-06-30)3,3 member; CRIM (2012-03-28--2013-10-23)3,3 substitute; Delegation to the Euronest Parliamentary Assembly (2009-09-16--2014-06-30)3,3 member; Delegation to the ACP-EU Joint Parliamentary Assembly (2009-09-16--2014-06-30)3,3 substitute; IMCO (2012-01-19--2014-06-30)3,3 member_of_the_bureau; ALDE (2009-07-20--2014-06-30)3,3 substitute; CONT (2012-01-19--2014-06-30)3,3 member; ECON (2012-01-19--2014-06-30)3,3 unknown; Folkpartiet liberalerna (2009-07-14--2014-06-30)3,3
lpv:translated text	". Mr President, thank you, Commissioner. I would also like to thank Mr Ferber for his successful work. This is a very technically complicated legislative proposal, and he has been successful in uniting Parliament with well-balanced compromises. The two legislative proposals form the basis for ensuring that savers regain some of the confidence they lost during the financial crash four years ago. As has been mentioned, we are tightening the rules relating to high-frequency trading, and not everybody is entirely satisfied. A braking system must be implemented in order to reduce the risk of an uncontrolled stock market fall. We are increasing competition and transparency in the market by establishing a new trading platform, as has been mentioned by the Commissioner. We are ensuring that small bond markets (and I am being a little nationalistic here) such as the Swedish market have reasonable conditions. We are strengthening the protection for savers by tightening the rules on the marketing of savings products, as mentioned by the rapporteur. We are achieving – and this is important to me – greater freedom of choice, improved competition and a more robust and better-functioning capital market. Mr President, the matter of a ban on commission or inducements has been the most difficult thing to reach agreement over. Self-regulation and ethical guidelines have obviously not been sufficient to reduce the aggressive marketing of savings products. As a liberal, a market liberal, I admit there is a problem here. This I admit, Mr Goebbels. A general EU ban on commission is the next step if the industry fails to get its act together. However, those of us in the liberal camp do not currently wish to see a complete ban on commission throughout the EU. Countries such as the UK or the Netherlands wishing to have more stringent rules have been allowed to implement such rules. The risk of introducing a complete ban is that sales will lead to those on lower incomes no longer being offered the advice they need free of charge. Small insurance brokers risk being eliminated. Mr President, financial advice must be available to all citizens at a reasonable cost. Competition and supply must also not be impaired. Transparency and openness are extremely important. This forms an important part of guaranteeing greater protection for purchasers of savings products. Thank you, Mr Ferber, and thank you to all of the shadow rapporteurs."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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