Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-26-Speech-5-249-250"
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"en.20121026.23.5-249-250"2
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".
I voted in favour of this Directive, which aims to make financial markets more efficient, resilient and transparent, and to strengthen the protection of investors. In force since November 2007, the original Markets in Financial Instruments Directive (MiFID) governs the provision of investment services in financial instruments (brokerage, advice, dealing, portfolio management, underwriting, etc.) by banks and investment firms and the operation of traditional stock exchanges and alternative trading venues (so-called multilateral trading facilities). While MiFID created competition between these services and brought more choice and lower prices for investors, shortcomings were exposed in the wake of the financial crisis. In 2009 the G20 agreed at the Pittsburgh summit on the need to improve the transparency and oversight of less regulated markets – including derivatives markets – and to address the issue of excessive price volatility in commodity derivatives markets. I agree that we need to establish more robust and efficient market structures, and greater supervisory powers and controls for these markets, and ensure better protection for consumers."@en1
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