Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-10-Speech-3-156"
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"en.20101110.16.3-156"2
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"Madam President, I am not going to repeat everything that Mr Barnier has just said – I had my say earlier – but I would like to thank everybody who has spoken in support of the proposed text, and also those who have made comments which show, all the same, that this text has real substance, which will enable us to make progress at European level in the regulation of all these alternative investment funds.
This is the first truly European legislation on this subject, as I said earlier. I think that we need to recognise that strengthening ESMA’s role is a step in the right direction. Several speakers have also mentioned passive marketing. We are taking a number of practical measures on this matter and on private equity funds, based on the need for ever more information and ever more transparency, including with regard to the staff in undertakings that are sometimes targeted by these funds’ actions.
To conclude, I would like to make two points. Firstly, I have heard from some who feel that we have not gone far enough and others who feel that we should not have gone down the regulatory route at all. This leads me to the very Belgian conclusion that we have probably reached a good compromise. If both sides are critical of the compromise, then the reasoning underpinning our actions is probably sound.
To Mr Bullmann, I would just say that we have made some headway on the supervisory structure. We are now working on financial investments and will also be looking at investment funds and financial groups.
Let me congratulate Mr Gauzès once again. I said to him earlier that we would try to make progress with regard to rating agencies also, and I can tell him that both the Belgian Presidency and the Commission are willing to try to speed up the discussions on derivatives. I have double checked and can confirm that the report is scheduled for adoption by the Parliamentary committee in March next year.
If it proves possible to bring that date forward, we are willing to try to up the pace. Please do let us know if that seems feasible. I am delighted that we have reached an agreement on this kind of text. We will work towards adopting others in the coming weeks. Once again, my thanks. They are all the more sincere, Mr Gauzès, because we will go on working together over the next few days."@en1
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