Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-10-24-Speech-4-015"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2002-10-24"^^xsd:date2
dcterms:Is Part Of	lp_eu:Insider dealing and market manipulation2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20021024.2.4-015"2
lpv:hasSubsequent	lp_eu:2002-10-24-Speech-4-0162
lpv:speaker	lp:Giorgos Katiforis2
lpv:spoken text	"The recommendation for second reading on a directive on market abuse, which we are considering today, is both timely and appropriate. It is timely because confidence in the integrity of market participants has been seriously damaged over the last two years as a result of various cases of market abuse, chiefly in the United States. It is appropriate because the common position addresses the need for regulatory authorities to have sufficient enforcement flexibility to be able to detect market abuse and sanction its practitioners on a consistent and effective basis. Also covered is the right of market participants to enjoy reasonable legal certainty that their actions will be considered appropriate. The key is to be able to deal with market abuse in a consistent manner. Those who have intent and knowledge of market abuse – and knowledge includes journalists – or who act recklessly will be punished. Those whose actions are innocent but have unintended effects will not, however, be penalised. The fact that we now have a debate with so few amendments tabled nearly 18 months after the initial proposal, when the financial services industry initially questioned whether there was any need for such a proposal, owes much to the skill and patience of our rapporteur, Mr Goebbels. I would like to congratulate him. We have obtained an appropriate definition of market manipulation and of financial instruments whose use falls within the scope of the directive. Nevertheless, Member States must increase the resources available to their regulators so that they can be effective in their investigation and pursuit of market manipulators."@en1
lpv:spokenAs	substitute; PECH (2002-01-17--2004-07-19)3 member; Delegation to the EU-Turkey Joint Parliamentary Committee (2002-03-07--2004-07-19)3 substitute; Committee on Foreign Affairs, Human Rights, Common Security and Defence Policy (2002-01-17--2004-07-19)3 member; ECON (2002-01-17--2004-07-19)3 unknown; Panellinio Socialistiko Kinima (1999-07-20--2004-07-19)3 vice-chair; PES (1999-07-20--2004-07-19)3
lpv:unclassifiedMetadata	"Katiforis (PSE )."1

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