Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-04-Speech-1-059-000"
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"en.20110704.20.1-059-000"2
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"− Mr President, supplementary supervision of a financial conglomerate should lead to a reduction in the systemic risk that such conglomerates pose to the market. Supervision at group level will be added and will not replace the supervision of each member of the conglomerate under the applicable arrangements for supervision in the banking market, the capital market or the insurance market.
Therefore we will have supervision at group-member level, over which we will overlap the supervision at group level to which the member belongs. This supplementary supervision will not produce extra bureaucracy as long as there is cooperation between the European and national authorities with regulatory responsibilities."@en1
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