Local view for "http://purl.org/linkedpolitics/eu/plenary/2014-02-04-Speech-2-070-000"
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"en.20140204.4.2-070-000"2
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"Mr President, insider dealing and market manipulation are undoubtedly wrong and harm countless numbers of people. They are not victimless crimes and should be subject to criminal sanctions. The argument is that when a market becomes international, the regulation must also become international. From that it is concluded that EU legislation is called for – surprise, surprise.
There is a slight flaw in the logic or at least in one of the premises. The terms EU and international are not synonymous. What is required is an international treaty, signed by all significant trading countries, to the effect that the signatory countries will legislate for stated minimum standards of legislation. In this example, as in many others, EU harmonising legislation is the objective and the prevention of insider dealer and market manipulation is simply the pretext."@en1
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