Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-417-031"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-07-05"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20110705.34.2-417-031"2
lpv:hasSubsequent	lp_eu:2011-07-05-Speech-2-417-0772
lpv:speaker	lp:Nuno Melo2
lpv:spokenAs	member_of_the_bureau; EPP (2009-07-14--2014-06-30)3 member; LIBE (2009-07-16--2012-01-18)3 vice-chair; Delegation for relations with the Mercosur countries (2009-09-30--2014-06-30)3 substitute; Delegation for relations with the Palestinian Legislative Council (2009-09-16--2014-06-30)3 substitute; DROI (2009-07-16--2012-01-18)3 unknown; Partido Popular (2009-07-14--2014-06-30)3 substitute; ECON (2009-07-16--2012-01-18)3 member; Delegation to the Euro-Latin American Parliamentary Assembly (2009-09-16--2014-06-30)3
lpv:translated text	"Hindsight shows us just how difficult it is to correctly supervise financial institutions forming a financial conglomerate. The complexity of these organisations and the extent of their activities make supervising them difficult. This in turn can create serious problems when institutions go bankrupt. The purpose of the Commission’s proposal is to provide a ‘quick fix’ for a situation that has manifested itself in a more problematic way during the financial crisis, but which has been known for a long time already. It is useful for supervisors to be able to oversee mixed financial holding companies in a similar way to financial holding companies in the banking sector and insurance holding companies in the insurance sector. Although the current directives do not seem to prohibit Member States from adapting their legislation in order to exert this power over these mixed financial holding companies, European coordination is useful in order to make this mandatory, so as to avoid new problems in the future."@en1

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