Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-10-22-Speech-1-103"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2001-10-22"^^xsd:date2
dcterms:Is Part Of	lp_eu:Undertakings for collective investment in transferable securities (UCITS)2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20011022.7.1-103"2
lpv:hasSubsequent	lp_eu:2001-10-22-Speech-1-1042
lpv:speaker	lp:Theresa Villiers2
lpv:spoken text	"I too very much hope that Mr Goebbels is going to withdraw Amendment No 4. You want call-back, Mr Goebbels, I want call-back and so does Mr Bolkestein. The fact remains that it is not feasible to have a legal call-back within the terms of the Treaty. Therefore, it is up to us to find a political agreement and a form of words which will do until 2004 when we can review this whole issue. Indeed I believe the Commission is committed to such a review. It is vitally important that we come to this agreement. On Mr Schmidt's report, it is excellent to see the modernisation of the framework for UCITS by the inclusion of derivatives and OTC derivatives. Parliament is leading the way on this, and Mr Schmidt has played a particularly successful role in updating the directives in this way and very much led the way on the derivatives issue. I am sorry to see the capital requirements in the form that they are. I believe that UCITS managers should be subject to capital requirements, but I do not believe those contained in the directive are sufficiently risk-sensitive. I do not believe that they are consistent with the general framework that we hope to implement. I do not think that assessing capital according to risk under management actually reflects the risk undertaken. I am also concerned that this formulation of the directive will produce an uneven market opening, leaving the market closed in one Member State and open in the other 14. But I have been persuaded by the rapporteur and our esteemed shadow rapporteur not to table amendments on these defects because we are very keen to get these two directives on the statute book to modernise the framework for a unit trust and UCITS in the European Union. I commend the directive to the House."@en1
lpv:spokenAs	member; Delegation for relations with the countries of South Asia and the South Asia Association for Regional Cooperation (SAARC) (1999-10-06--2002-01-14)3 member; ECON (1999-07-21--2002-01-14)3 member; EPP-ED (1999-07-20--2004-07-19)3 unknown; Conservative and Unionist Party (1999-07-20--2004-07-19)3 substitute; Committee on Legal Affairs and the Internal Market (1999-07-21--2002-01-14)3
lpv:unclassifiedMetadata	"Villiers (PPE-DE )."1

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