Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-12-15-Speech-3-346"

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"en.20101215.23.3-346"2
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". − The worldwide financial crisis, which was in part caused by credit rating agencies, has made it necessary to set up a mechanism for monitoring and supervising these agencies. For this reason, the European Securities and Markets Authority (ESMA) will come into being on 1 January 2011. At the same time, the continuing crisis and the constant new discoveries about market mechanisms make it necessary for the tasks and authority of this body to be constantly adjusted and, if required, expanded. Therefore, I very much welcome the detailed specifications and clarifications concerning the authority of the ESMA in its relationships with the relevant national bodies. For this reason, I have voted in favour of the report."@en1

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