Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-04-Speech-1-099-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-07-04"^^xsd:date2
dcterms:Is Part Of	lp_eu:Investor-compensation schemes (debate)2
dcterms:Language	"fr"^^xsd:language2
lpv:document identification number	"en.20110704.22.1-099-000"2
lpv:hasSubsequent	lp_eu:2011-07-04-Speech-1-100-0002
lpv:speaker	lp:Jean-Paul Gauzès2
lpv:spokenAs	unknown; Union pour un Mouvement Populaire (2009-07-14--2014-06-30)3 member; ECON (2009-07-16--2012-01-18)3 substitute; Delegation to the ACP-EU Joint Parliamentary Assembly (2009-09-16--2014-06-30)3 member_of_the_bureau; EPP (2009-07-24--2014-06-30)3 member; Delegation for relations with the Korean Peninsula (2009-09-16--2014-06-30)3 substitute; AGRI (2009-07-16--2012-01-18)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3
lpv:translated text	"Madam President, Commissioner, ladies and gentlemen, the aim of this text is clearly to protect private investors from the fraudulent or deeply flawed practices of investment firms. This text is designed to increase confidence after a crisis in which retail investors, as you said, Commissioner, were definitely the most vulnerable stakeholders and the ones who suffered the most. It is important to understand that this text provides for the payment of compensation as a last resort. It is not paid out on an ad hoc basis, but as a last resort. That is why our committee unanimously adopted this report, which seeks to fully harmonise the rules and to increase the ceiling to EUR 100 000. In the specific case of undertakings for collective investment in transferable securities (UCITS), the Commission’s feeling was not that measures to protect investors should be overlooked, but that this very specific product, which, incidentally, has an excellent reputation, deserved its own rules to be laid down as part of the revisions of the UCITS Directive. That is why the Committee on Economic and Monetary Affairs has asked your Commission to undertake a study to discover what the advantages and disadvantages would be of extending the scope of this Directive on compensation for private investors to include UCITS. It is now up to the Council to agree so that the text that we adopted at first reading – since we will also be voting on the legislative resolution – can quickly be applied. I repeat: for Europeans and private investors, there is also a feeling of belonging to the European Union which must take the form of equivalent protection for all."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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