Local view for "http://purl.org/linkedpolitics/eu/plenary/2015-10-08-Speech-4-227-898"
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"en.20151008.25.4-227-898"2
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"I voted in favour of this proposed directive, on which my colleague Matt Carthy was a shadow rapporteur. The Payment Services Directive is an important piece of legislation which creates new prospects for SMEs and budding start-ups by opening up the banking industry to what are known as third-party providers (TPPs). Not only does this create more employment and business opportunities but it also allows for more consumer choice.
During discussions in preparatory meetings of the Committee on Economic and Monetary Affairs, Matt Carthy highlighted the need to break the dominance of the big banks, which currently control the payments market to the detriment of small businesses and budding entrepreneurs. Moreover, he sought to ensure that the legislation would strengthen consumer protection and regulate operators who previously functioned with no regulatory or supervisory framework. All competitors will now be forced to comply with financial regulation, which is crucial for any economy.
It was for these reasons I voted in favour of this legislation."@en1
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