Local view for "http://purl.org/linkedpolitics/eu/plenary/2016-09-14-Speech-3-740-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2016-09-14"^^xsd:date2
dcterms:Is Part Of	lp_eu:Prospectus to be published when securities are offered to the public or admitted to trading (debate)2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20160914.38.3-740-000"2
lpv:hasSubsequent	lp_eu:2016-09-14-Speech-3-741-0002
lpv:speaker	lp:Neena Gill2
lpv:spoken text	"Madam President, firstly my congratulations to Petr Ježek for the outstanding work he has done on this important report, taking over halfway through the process. Creating a good prospectus regime is at the heart of Capital Markets Union. In 2014, just one in four prospectuses were passported, meaning that the vast majority of issues raised capital in their own Member State. We need to change this: we need an EU where capital can flow freely and does not stop at Member States’ borders. Plus, it could also help in terms of gaining access to funds from institutional investors who are sitting on their capital because of the current climate of low interest rates. So if we are to unlock the potential of capital markets for SMEs it is vital that we make prospectuses less cumbersome and cheaper, cutting out the lengthy and excessive work of banks and lawyers. Therefore, this report aims to reduce red tape and legal fees, and by raising the threshold to one million we will make it easier for SMEs to tap into the capital markets. There are almost 400 000 SMEs in my constituency, the West Midlands, and I welcome the fact that the report proposes a single standardised document for SMEs to sell their securities. This will make it easier for them to get access to potential cross-border finance in order to scale up their businesses and get to the next level. By limiting the number of pages in the prospectus summaries, I believe this information has, in the past, made it unattractive for SMEs to raise capital. Another key feature of this report is harmonising investor protection rules across different pieces of EU legislation. The Capital Markets Union will succeed only if it tackles the problem of fragmentation of practices within Member States. Overall, this report achieves a number of key objectives and will hopefully lead to a deepening of capital markets with or without the UK."@en1
lpv:spokenAs	substitute; AFET (2014-07-08--2017-01-18)3 member; ECON (2014-07-01--2017-01-18)3 substitute; Committee of Inquiry to investigate alleged contraventions and maladministration in the application of Union law in relation to money laundering, tax avoidance and tax evasion (2016-06-24--2017-12-13)3
lpv:unclassifiedMetadata	"Neena Gill,"1 "on behalf of the S&D Group"1
lpv:videoURI	<go to Events_and_structure europarl>2

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