Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-29-Speech-4-317-976"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20120329.36.4-317-976"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spokenAs | |
| lpv:translated text |
"Financial derivatives are broadly held to be one of the causes of the global financial crisis. The regulation adopted today addresses that by imposing transparency and requiring data to be made available to the European Securities and Markets Authority (ESMA), the European Systemic Risk Board (ESRB), supervisory authorities and central banks. This represents a mainstay of financial market regulation. This approach will offer consumers and investors greater choice and more efficient services. ESMA will monitor the operation of these ‘repositories’ and will be able to authorise their registration or deny them registration. ESMA will also intervene in disputes between national authorities as regards authorisation of central counterparties. Pension funds will become subject to mandatory clearing only after three years, with a possible extension to five. Central counterparties from third countries will be recognised and allowed to operate only if the legal system of the countries in question provides for an equivalent recognition system."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples