Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-417-109"
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"en.20110705.34.2-417-109"2
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"I voted for this resolution because I agree that there is a genuine need to monitor and control potential group risks posed to conglomerates due to their participation with other companies. For cases where the specific supervisory powers provided by this directive are shown to be insufficient, the supervisory community should develop alternative methods to address and appropriately take into account these risks, preferably through work conducted by the Joint Committee of the European Supervisory Authorities in the forum of the Joint Committee. If participation is the only element that distinguishes a financial conglomerate, I agree that supervisors should be allowed to assess whether the group is exposed to group risks and waive the group from supplementary supervision, if appropriate. Financial conglomerates need to be identified throughout the European Union according to the extent to which they are exposed to group risks. It is also vital that the requirements for exemption from supplementary supervision should be applied based on risk, in accordance with these guidelines. This provision is particularly important in the case of larger conglomerates operating at international level."@en1
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