Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-10-Speech-3-144"

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	"it"^^xsd:language2
lpv:document identification number	"en.20101110.16.3-144"2
lpv:hasSubsequent	lp_eu:2010-11-10-Speech-3-1452
lpv:speaker	lp:Alfredo Pallone2
lpv:spokenAs	member; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2009-09-16--2014-06-30)3 member; ECON (2009-07-16--2012-01-18)3 substitute; Delegation for relations with Canada (2009-09-16--2014-06-30)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 member; EPP (2009-11-25--2014-06-30)3 member; Delegation for relations with the Maghreb countries and the Arab Maghreb Union (2009-09-16--2014-06-30)3 substitute; LIBE (2009-07-16--2012-01-18)3 unknown; Il Popolo della Libertà (2009-07-14--2013-12-16)3
lpv:translated text	"Mr President, ladies and gentlemen, firstly, it seems obvious that I should thank the negotiators and, in particular, Mr Gauzès, together with the shadow rapporteurs, for the excellent work that has been achieved with regard to the directive on alternative investment fund managers, ensuring that the funds finally have a uniform set of rules within the entire European Union. These funds are responsible for the management of a significant volume of assets invested in Europe and can exert a notable influence on the markets. Their impact is largely beneficial, but their activities can also contribute to spreading risk throughout the financial system. The new common measures contribute to replacing the 27 different national systems of today and to strengthening the opportunities for the single market. Alternative funds therefore benefit from a European passport, independent of their place of registration. Furthermore, the single European system will prevent funds from profiting from legislation in states that offer more favourable regulatory regimes. In the past, this practice has entailed serious speculative risks for the entire European Union. I also agree with the introduction of rules relating to so-called ‘asset-stripping’ and to the ban on short selling – two points that were missing from the initial proposal from the European Commission. Finally, in order to avoid distortions of competition, it is essential that a fund from a third country operating within the European Union benefits from the passport and may carry on business if it respects the same conditions as EU funds."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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