Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-414-093"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20110705.34.2-414-093"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spokenAs | |
| lpv:translated text |
"No sector, individual or product can avoid effective regulation and smart supervision. This directive aims to strengthen financial stability. Directive2002/87/EC of the European Parliament and the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate provides the authorities responsible in the financial sector with supplementary powers and tools for the supervision of groups made up of many regulated bodies, which are active in different sectors of the financial markets. Such groups, that is, financial conglomerates, are therefore exposed to risks relating to controlling a group (group risks), which include the risks of contagion, where risks are spread from one end of the group to another; risk concentration, where the same type of risk materialises in various parts of the group at the same time; the complexity of managing many different legal entities; potential conflicts of interest; and the challenge of allocating regulatory capital to all their regulated entities, thereby avoiding the multiple use of capital. I agree that conglomerates should therefore be subject to supplementary supervision as well as supervision on an individual basis."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples