Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-09-22-Speech-1-095"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2008-09-22"^^xsd:date2
dcterms:Is Part Of	lp_eu:Hedge funds and private equity - Transparency of institutional investors (debate)2
dcterms:Language	"pl"^^xsd:language2
lpv:document identification number	"en.20080922.19.1-095"2
lpv:hasSubsequent	lp_eu:2008-09-22-Speech-1-0962
lpv:speaker	lp:Tadeusz Zwiefka2
lpv:spokenAs	member; Delegation to the EU-Armenia, EU-Azerbaijan and EU-Georgia Parliamentary Cooperation Committees (2004-09-15--2009-07-13)3 member; EPP-ED (2004-07-20--2009-07-13)3 substitute; Delegation to the EU-Moldova Parliamentary Cooperation Committee (2005-03-31--2009-07-13)3 unknown; Platforma Obywatelska (2004-07-20--2009-07-13)3 substitute; Delegation to the ACP-EU Joint Parliamentary Assembly (2007-02-13--2009-07-13)3 substitute; Delegation for relations with the Mashreq countries (2007-03-14--2009-07-13)3 substitute; Delegation for relations with Belarus (2008-01-09--2009-07-13)3 member; JURI (2007-01-31--2009-07-13)3 substitute; CULT (2007-01-31--2009-07-13)3
lpv:translated text	"Madam President, the events of recent years, or months, even, but also the efforts made by individual countries and regions, indicate the growing importance of transparency not only for individual companies, but also for the development of specific states’ economies. One barrier to direct regulation of the activities of hedge funds is the global nature of this industry and the potential for a fund’s offices to move to another state in order to avoid being subject to national regulations. This is the main reason why all international institutions dealing with hedge funds try to influence fund activities through their relations with entities that are subject to regulation, especially banks. The problems of transparency in the European Union are concentrated mainly on convergence and harmonisation of the law in Member States. The problem areas relating to transparency aspects may be summarised as follows: establishing unified standards for information disclosed by companies introducing their shares onto the stock market and company law and corporate governance in relation to the question of the collective responsibility of agencies for information contained in company reports, reinforcing the role of independent council members, standards in the area of setting up committees as part of councils, disclosure of information on council and board members’ reimbursements, and also increasing investor protection. The introduction of unified regulations, creating better conditions within the European Union for hedge fund action and distribution, could have a positive impact on their development in Europe, but the introduction by individual countries of their own, individual regulations relating to these funds is not helping to create a unified, common European market. The establishment of common and transparent principles would considerably facilitate fund product distribution. In the opinion of the European Commission, which received a request to review the framework principles relating to non-harmonised products like hedge funds, with a view to creating a pan-European market, there are no significant arguments for the creation of EU regulations on hedge funds. Nothing could be more wrong! I side with the rapporteur’s call for the Commission to present a legislative conclusion on the transparency of hedge funds and private equity."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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