Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-10-23-Speech-1-151"

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"en.20061023.19.1-151"2
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"Mr President, as I did in the Committee on Economic and Monetary Affairs, I am today standing in for my colleague Professor Lauk, the shadow rapporteur of the Group of the European People’s Party (Christian Democrats) and European Democrats, to whom we all wish a good recovery following the operation on his shoulder. It is on his behalf that I would like to thank not only the rapporteur, Mr Skinner of the Socialist Group in the European Parliament, but also the shadow rapporteur of the Group of the Alliance of Liberals and Democrats for Europe, Mr Klinz – who, like me, hails from Hessen – for their constructive cooperation. It was the compromise reached by these three that made it possible for us, in the committee, to adopt the draft resolution unanimously. Even the Commission has been efficient. Commissioner McCreevy has incorporated the essential points in his draft of the implementing Directive and, following consultations, made further modifications. This solution makes for more transparent information on securities authorised on the regulated market. There are three points that the PPE-DE Group saw as particularly important. The first had to do with the need for the requirements applicable to half-yearly audits not to be excessively bureaucratic, the consequence of which was that the figures for comparison purposes do not need to be submitted immediately upon the entry into force of the directive; a more reasonable transitional period was decided upon. Secondly, where voting rights were concerned, our intention was that subsidiaries would be listed both as part of their parent companies and as independent entities, and we managed that too. Thirdly, where publication, of necessity, has to be accomplished rapidly, it should be laid down in detail which media are to be used. That was agreed to as well. These productive changes have prompted my group to endorse Mr Skinner’s report. Both Mr Lauk and I look forward to it receiving broad support in this House tomorrow."@en1

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