Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-07-Speech-3-994"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-07-07"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20100707.23.3-994"2
lpv:hasSubsequent	lp_eu:2010-07-07-Speech-3-2222
lpv:speaker	lp:Mário David2
lpv:spokenAs	substitute; INTA (2009-07-16--2012-01-18)3 member; AFET (2009-07-16--2012-01-18)3 member; SEDE (2009-07-16--2012-01-18)3 substitute; Delegation to the ACP-EU Joint Parliamentary Assembly (2009-09-16--2014-06-30)3 unknown; Partido Social Democrata (2009-07-14--2014-06-30)3 member; EPP (2009-07-14--2014-06-30)3 substitute; Delegation for relations with the NATO Parliamentary Assembly (2009-09-16--2014-06-30)3 member; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2009-09-16--2014-06-30)3 chair; Delegation for relations with the Mashreq countries (2009-09-17--2014-06-30)3 member; Conference of Delegation Chairs (2009-09-17--2014-06-30)3
lpv:translated text	"Bearing in mind that the lack of efficient control instruments has strongly contributed to excessive risk taking by financial institutions, as well as the importance that the management of listed companies has in terms of the stability of the financial system, I am voting in favour of the measures proposed in this report. Indeed, with the current economic and financial crisis, it has become evident that the inappropriate level of compensation practised by some companies has led to an excessive and imprudent assumption of risk, the objective of which was the maximisation of short-term profit. Repetition of such practices led to the development of business models based on risk, in detriment to the sustained growth of companies. Measures should therefore be taken aimed at reducing the risks assumed and remodelling the incentives system. Consequently, rather than launching a European initiative over compensation policies in the financial sector and listed companies, a coordinated European action in the area of the compensation of the senior management of these companies should be taken."@en1

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