Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-01-13-Speech-2-011"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2009-01-13"^^xsd:date2
dcterms:Is Part Of	lp_eu:Undertakings for collective investment in transferable securities (UCITS) (recast) (debate)2
dcterms:Language	"fr"^^xsd:language2
lpv:document identification number	"en.20090113.4.2-011"2
lpv:hasSubsequent	lp_eu:2009-01-13-Speech-2-0122
lpv:speaker	lp:Jean-Paul Gauzès2
lpv:spokenAs	member; Delegation to the Euro-Latin American Parliamentary Assembly (2007-05-23--2009-07-13)3 member; EPP-ED (2004-07-20--2009-03-22)3 member; ECON (2007-01-31--2009-07-13)3 substitute; JURI (2007-01-31--2009-07-13)3 member; Delegation for relations with Iran (2007-03-14--2009-07-13)3 unknown; Union pour un Mouvement Populaire (2004-07-20--2009-07-13)3 member; Delegation for relations with the countries of south-east Europe (2007-03-15--2009-07-13)3
lpv:translated text	"− Mr President, Commissioner, ladies and gentlemen, please allow me first of all to salute the remarkable work accomplished by our rapporteur, Wolf Klinz, who has managed to find broad agreement within the Committee on Economic and Monetary Affairs and negotiate a completely satisfactory compromise with the Presidency. The Committee on Legal Affairs, when asked for its opinion, made known its views and these were taken into account. The original UCITS Directive was the key to development for European investment funds. In June 2007, the assets managed in UCITS represented EUR 6 000 billion and UCITS accounted for around 75% of the investment fund market in the European Union. The internal guarantees provided by UCITS explain why they are recognised by investors well beyond Europe’s borders. However, the regulations must change to promote the development of these funds. The changes made in 2001 opened new investment areas for UCITS but they left behind several bottlenecks. The Green Paper led to a public debate. In 2005 it was followed by a White Paper. Today, we can welcome the major advances in efficiency offered by the proposal that we have before us. The most significant progress is the recognition of a European passport for management companies. The proposed provisions will allow the implementation of this passport for management companies, whilst guaranteeing adequate protection for investors. It is a complete passport and we welcome it. The supervision measures it includes will certainly be effective in removing any doubts which might have been expressed. The proposal also makes major technical improvements, for example, notifications, cross-border mergers and the grouping of funds via master-feeder-structures. The harmonisation which will be thus achieved will also guarantee equitable competition conditions across the European Union, provided, as our rapporteur has stated, that actions are taken at a fiscal level to avoid distortions."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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