Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-25-Speech-4-370-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2012-10-25"^^xsd:date2
dcterms:Is Part Of	lp_eu:Markets in financial instruments and repeal of Directive 2004/39/EC - Markets in financial instruments and amendment of the EMIR Regulation on OTC derivatives, central counterparties and trade repositories (debate)2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20121025.28.4-370-000"2
lpv:hasSubsequent	lp_eu:2012-10-25-Speech-4-371-0002
lpv:speaker	lp:Burkhard Balz2
lpv:spokenAs	substitute; Delegation for relations with the People's Republic of China (2009-09-16--2014-06-30)3 unknown; Christlich Demokratische Union Deutschlands (2009-07-14--2014-06-30)3 member; Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) (2009-09-16--2014-06-30)3 member; EPP (2009-07-14--2014-06-30)3 substitute; BUDG (2012-03-26--2014-06-30)3 member; ECON (2012-01-19--2014-06-30)3
lpv:translated text	"Mr President, firstly I want to thank Mr Ferber for his excellent work. It was not particularly easy, but it has turned out well in the end. The MiFID Financial Markets Directive is the basis for European financial market regulation and I am very happy that the European Parliament has taken such a clear, strong position through its revision of the MiFID Directive. Once again we are well ahead of the Council. The MiFID will improve the market structures, speed up trade, reduce systemic risk and, above all, reinforce the protection of investors. The European Securities and Markets Authority will also grow into its role. All in all this will make the financial markets a little safer. I would like briefly to raise the issue of investment advice. The Committee on Economic and Monetary Affairs has voted clearly on this issue. Europe has many kinds of models for advice: commission-based advice, transferred commissions, fee-based advice – regardless of the model, each one has its advantages and disadvantages. The categorical condemnation of a specific model will get us nowhere. I also support the stance of the Committee on Economic and Monetary Affairs calling for more openness and transparency but not banning any one model as such, since the quality of advice is not guaranteed when the advisor is only remunerated with a fee. There are certainly enough citizens who have been dissatisfied with the work of fee-based freelance advisers. Perhaps we should turn the debate on its head: what about financial education? An initiative for the study of economics and finance in schools and vocational colleges would certainly contribute to improved investor protection."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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