Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-10-Speech-3-160"
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"en.20101110.16.3-160"2
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"The economic and financial crisis has highlighted to us that we need to exercise tighter control over economic operators. They have exposed themselves to excessive risks which have caused upheaval in the global financial system. According to the European Central Bank’s analysis, the business handled by alternative investment fund administrators amounts to approximately EUR 700 billion in assets in the European Union, which plays a major role in the financing of the latter’s economy.
Consequently, I welcome the Commission’s proposal on authorising and supervising these funds and on introducing a European passport in this area. Creating a European internal market for alternative fund administrators will help limit systemic risks and provide better protection for investors, in keeping with the new European economic supervisory structure. At the same time, the Commission will have to present an assessment of the results from this harmonisation process in good time, in order to ensure that this has not caused any distortion of the market."@en1
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