Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-10-24-Speech-4-083"

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"en.20021024.4.4-083"2
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". The proposal we are now voting on, concerning insider dealing and the manipulation of the market (market abuse) is, as has been mentioned by our fellow Member and rapporteur, Mr Goebbels, crucial in terms of principles. The importance of this directive, together with the urgent need for its adoption, justify my use of the right to submit an explanation of vote in writing, despite the fact that I am not a member of the Committee on Economic Affairs and, consequently, this is not an issue with which I have been particularly closely involved. I am, therefore, using this device to reaffirm the need for a vote in favour of the recommendation in question. Behaviour of the type that has led to the succession of scandals in the American financial markets, as well as some forms of market manipulation covered by the directive, must be penalised effectively and efficiently. This is crucial not only as a matter of principle, as I said at the beginning of my intervention, but also as a means of helping to restore confidence in the financial markets. This explains the spirit of consensus achieved at first reading, which I welcome."@en1

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