Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-01-13-Speech-2-016"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2009-01-13"^^xsd:date2
dcterms:Is Part Of	lp_eu:Undertakings for collective investment in transferable securities (UCITS) (recast) (debate)2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20090113.4.2-016"2
lpv:hasSubsequent	lp_eu:2009-01-13-Speech-2-0172
lpv:speaker	lp:John Purvis2
lpv:spoken text	"Mr President, with all the controversy currently surrounding regulation of the financial services industry and the headlong urge to rush towards over-regulation, this is a welcome example of common-sense, appropriate and measured regulation of the industry. Mr Klinz and the Commission have done a good job and I happily support this report and the proposed revision. UCITS are a vital part of the European – and, yes, of the Scottish – investment management industry. They are a vitally important savings vehicle for savers and investors, not just in Europe, but all over the world. Imitation is surely a sufficient compliment and, even in the US, the UCITS is the model to be aspired to. Mr Klinz has incorporated much of what I consider to be vitally important, such as diversification into new investment products and techniques with reasonable security at a common-sense level. Most importantly, we have to achieve greater economies of scale in Europe. Many of our UCITS are too small and there are too many of them, so we must facilitate mergers. Personally, I would have liked to have seen that go even further to allow UCITS with different investment objectives to be able to merge more easily, provided that the investor was adequately protected and informed of such changes. Thirdly, the management passport is a vitally important new provision which will allow for greater economies of scale, greater efficiency and the reduction of red tape. This must only be in the interests of the investor. The revision will therefore be good for the industry but, even more importantly, it will be good for the investor and the saver, not just in Europe but all over the world. I am very glad to support Mr Klinz’s report and the UCITS revision."@en1
lpv:spokenAs	member; EPP-ED (2004-07-20--2009-07-13)3,3 unknown; Scottish Conservative and Unionist Party (2004-07-20--2009-07-13)3,3 member; Delegation for relations with Iran (2007-03-14--2009-07-13)3,3 substitute; ITRE (2007-01-31--2009-07-13)3,3 member; Delegation for relations with the Mashreq countries (2007-03-14--2009-07-13)3,3 vice-chair; ECON (2007-02-01--2009-07-13)3,3 substitute; Delegation for relations with the Gulf States, including Yemen (2007-03-14--2009-07-13)3,3
lpv:unclassifiedMetadata	"John Purvis (PPE-DE ). -"1
lpv:videoURI	<go to Events_and_structure europarl>2

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