Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-11-Speech-4-194"
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"en.20101111.21.4-194"2
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"Given that alternative investment fund managers represent around USD 1 000 billion of assets and therefore play an important role in financing the European economy, and given that the financial crisis arose in the investments market, although these funds were not directly related to the origin of the crisis, it is considered necessary to regulate all actors involved in financial services, and especially so to regulate these high risk funds: this will protect investors and foster stability in the markets. Such regulation plays a crucial role, because it replaces regulation at national level with regulation at European level, and provides for conditions for taking into account the specificities of the various funds covered, on the basis of their systemic risk. The establishment of rules of conduct for all financial services is being considered at a time of crisis, as is promoting a truly single market by making a framework of common European rules possible. The rules proposed by this directive provide greater transparency on the management of the funds themselves, as well as on how they are marketed within the European Union – by means of a simple authorisation in various Member States – and in third countries."@en1
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