Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-04-Speech-1-054-000"
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"en.20110704.20.1-054-000"2
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"Madam President, ladies and gentlemen, the various entities that can be identified as financial conglomerates span a number of fields and are therefore difficult to reduce to a single category and to a single regulatory scope.
In the past this situation has created several difficulties, which the financial crisis has further exacerbated. The draft report is therefore going in the right direction to fill a gap that has become increasingly apparent over time. The newly established European Supervisory Authorities supervising the markets, banks and insurers must be able to act by common accord in this area, and I think that the establishment of a joint committee is a good idea.
The scope of this directive needs to be clearly identified at European level in order to avoid misunderstanding and potential conflicts that would weaken the role of prevention and supervision in the sector. The increasingly close interdependence that has emerged in the financial sector certainly needs new, more effective and extensive rules that can be applied to the entire European dimension."@en1
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