Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-09-23-Speech-2-330"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2003-09-23"^^xsd:date2
dcterms:Is Part Of	lp_eu:Investment services and regulated markets2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20030923.11.2-330"2
lpv:hasSubsequent	lp_eu:2003-09-23-Speech-2-3312
lpv:speaker	lp:Othmar Karas2
lpv:spokenAs	unknown; Österreichische Volkspartei (1999-07-20--2004-07-19)3 member; ECON (2002-01-17--2004-07-19)3 member; Delegation to the EU-Hungary Joint Parliamentary Committee (2002-02-07--2004-04-30)3 substitute; Committee on Legal Affairs and the Internal Market (2002-01-17--2004-07-19)3 treasurer; EPP-ED (1999-09-30--2004-07-19)3
lpv:translated text	"Mr President, Commissioner, ladies and gentlemen, I would like to begin by thanking all of those involved in this compromise, beginning with the rapporteur and Mr Radwan. It was a very difficult task, but we were successful. Further, I would like to make it clear that Parliament wants to pass this directive in this term and we hope that this compromise will also help the Council to come to one of its own. The new directive for investment services and regulated markets will strengthen the single European financial market. Why do we even need a directive? Because inadequately harmonised rules, high levels of bureaucracy and antiquated provisions for investor protection have so far been considerable barriers to cross-border securities trading. What are the main points of our compromise and the new regulations? Firstly, investor protection. Investors must be well informed and the rules on the conduct of business are one of the most important pillars of investor protection: the differences between advice and non-advice business. In future a suitability test will only be required for advice business. Thirdly, we want the best possible service. The Committee on Economic and Monetary Affairs have come up with a wording that is acceptable to both small and large financial institutions. Fourthly, the decisive point: the level playing field between banks dealing internally with securities and markets. In this compromise, it was decided that banks are subject to appropriate supervisory and transparency rules. The aim is that the internalisation systems are allowed but not to the detriment of markets and other market participants. We hope that this compromise will make for fairer competition between banks and stock markets, from which the consumer will benefit most. I would ask everyone to vote in favour of the compromise the day after tomorrow."@en1

Named graphs describing this resource:

The resource appears as object in 2 triples

Context graph