Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-29-Speech-4-317-971"
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"en.20120329.36.4-317-971"2
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"I supported the adoption of this important report, which aims to increase the transparency and regulatory supervision of over-the-counter derivatives in an internationally uniform manner. In order to ensure the stability of the financial sector, companies must also bear responsibility for the risks they take, and for that purpose, supervision over them must become more effective. For that reason, I consider it important to develop the work of the European Securities and Markets Authority (ESMA) and to provide sufficient funds for that purpose.
As concerns the position of Commissioner Barnier that Article 67(3) of the report is at variance with current legislation (for instance, Article 290 of the Treaty on the Functioning of the European Union), I disagree, because the ESMA is an independent institution that consists of experts and does not belong to the Member States."@en1
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