Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-10-Speech-3-142"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-11-10"^^xsd:date2
dcterms:Is Part Of	lp_eu:Alternative investment fund managers (debate)2
dcterms:Language	"fr"^^xsd:language2
lpv:document identification number	"en.20101110.16.3-142"2
lpv:hasSubsequent	lp_eu:2010-11-10-Speech-3-1432
lpv:speaker	lp:Astrid Lulling2
lpv:spokenAs	member; FEMM (2009-07-16--2012-01-18)3 member; Delegation for relations with the countries of Central America (2009-09-16--2014-06-30)3 member_of_the_bureau; EPP (2010-02-25--2014-06-30)3 member; Quaestors (2009-07-15--2012-01-16)3 substitute; AGRI (2009-07-16--2012-01-18)3 member; Parliament's Bureau (2009-07-15--2012-01-16)3 member; ECON (2009-07-16--2012-01-18)3 quaestor; European Parliament (2009-07-15--2012-01-16)3 unknown; Parti chrétien social luxembourgeois (2009-07-14--2014-06-30)3 substitute; Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) (2009-09-16--2014-06-30)3 member; Delegation to the Euro-Latin American Parliamentary Assembly (2009-09-16--2014-06-30)3
lpv:translated text	"Mr President, throughout the birthing pains of the directive on alternative investment fund managers, I have constantly argued in favour of equal treatment for all fund managers, irrespective of whether they come from the European Union. This may sound obvious, but in practice, there have been innumerable difficulties. The text presented today is satisfactory. I would like to thank the negotiators, particularly our rapporteur, Mr Gauzès, who, having been through such a difficult birthing process, surely ought to be entitled to some well-earned parental leave. I would like to stress that the treatment of third countries can be viewed in two different ways, depending on whether one is inside or outside the European Union. Largely as a result of the European Parliament’s efforts, all funds that are sold in the European Union will effectively be subject to similar rules. Thus, we can now say that there is more or less a level playing field. Nevertheless, during the transitional period, non-EU entities will be able to apply national investment rules, whereas EU funds and managers will be subject to the directive, which tends to be stricter. The situation is different for markets outside the European Union: European funds and their managers will still be subject to the directive, but third-country funds will not. Consequently, it will be much harder to market European products in the rest of the world because they will be less flexible and more expensive. We need to be aware of this disparity, although it was inevitable in this particular instance. As for depositaries, given that we are imposing more restrictions on them too, specifically in the form of new responsibilities, the higher costs are bound to lead to far-reaching sectoral changes. Mr President, I am not saying this to express my opposition, but rather to emphasise that this new legislation is not the cure to all ills. It needs to be implemented but it will also create problems, and we need to recognise that."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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