Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-10-24-Speech-4-017"
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"en.20021024.2.4-017"2
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"Mr President, I would say that our Parliament has worked extremely well and that we should congratulate our rapporteur, Robert Goebbels, on his excellent work.
We should, in particular, welcome the fact that the pressure to incorporate the concept of intent into the definition of offences, a concept which is usually impossible to prove, has been rejected, and also the fact that we have strengthened obligations of transparency in the field of insider information and in cooperation between market surveillance authorities. We are therefore in the process of breaking in the Lamfalussy procedure which has got off to a good start, I believe, with fine cooperation between our three institutions.
Nevertheless, I feel that it is perhaps regrettable that the Commission asked, at 6 p.m., to begin its work on the regulation’s implementation before it is even adopted by Parliament and the Council. In any event, this was merely an excuse to redouble the pressure exerted by the lobbies of financial journalists who want, in fact, to create a general exception in their favour in the field of comitology; I am talking about self-regulation full stop. In our view, financial journalists must indeed comply with all the provisions concerning transparency and the veracity of information and, with regard to the progress that can be made in the field of comitology, this will fall under a future revision of Article 202.
This is why we fully reject the two amendments tabled by the Liberal and PPE-DE groups and support Amendment No 5, adopted by the Committee on Economic and Monetary Affairs, which further strengthens the guarantees concerning that profession.
To conclude, I wish to say that, in light of the extremely serious shortcomings revealed by current developments, we are simply trying to take the first step, particularly where insider dealing is concerned. What is at stake is the entire production and consumption of the financial setup.
Consequently, with regard to the harmonisation of accounting procedures, government reform of businesses, the organisation and the supervision of audits, of financial analysis and credit rating, we call on the European Union and the Commission in particular to rapidly draw up new regulatory and legislative initiatives."@en1
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