Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-03-29-Speech-1-043"
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"en.20040329.6.1-043"2
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"Madam President, Commissioner, Mrs Villiers, Mr Skinner, let me start by saying that both directives are part of the Financial Services Action Plan and thus help to strengthen and complete the internal financial market. The second thing I want to say is that both directives are triumphs for this House and for the parliamentary codecision procedure. Thirdly, both directives, as they stand at present, have made substantial changes to the Commission draft and to the Common Position and have brought them more into line with this House’s point of view.
Turning to the transparency directive, reference has already been made to the fact that the mandatory introduction of quarterly reports, as proposed by the Commission, for companies listed on EU stock exchanges is now off the agenda, and quite rightly too. The transparency requirements in the case of loans have been vastly improved. The wording on the publication of company information that has now been agreed on ensures that Member States can require their own companies to publish information in printed form. The requirement that information be disseminated simultaneously has been done away with.
The only thing I can say about the investment services directive is that I would have been happier if Article 27 had specified a minimum account size, or if Recital 49 had been deleted, but it is important that the report has enabled us to steer a middle course between the various national interests, the European interests of the internal market, and our egoisms, and on that I warmly congratulate Mrs Villiers, the rapporteur. Thanks to her, three states that are highly important to the financial market – the United Kingdom, Denmark and Sweden – are now on board, although they did not initially endorse the Common Position, and participants in the market can now avail themselves of a better directive."@en1
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