Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-11-Speech-3-376-437"
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"en.20110511.28.3-376-437"2
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"The smooth functioning of the Internal Market depends on the stability of the financial system and on the trust placed in financial institutions and transactions by the European public and consumers. In the wake of the financial crisis, it has become clear that the quality of consumer protection and safeguards in the financial services sector requires tangible and significant improvement, particularly as regards monitoring and supervision. There is a need for an effective and adequate governance system in terms of risk management, compliance with regulations, the internal audit function, strategies, policies, and processes and procedures. This challenge, which is as important as it is complex, can be met by a package of measures with either immediate or medium-term effects. How the accountability of members of boards of directors is organised must be clearly defined, and must be put into practice in a reasonable way, so as not to jeopardise financial institutions’ willingness to seize business opportunities, which is a desirable aspect of their work, or the quality of the human resources at their disposal. The report identifies solutions to this, so I am voting in favour."@en1
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