Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-26-Speech-5-261-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2012-10-26"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"sk"^^xsd:language2
lpv:document identification number	"en.20121026.23.5-261-000"2
lpv:hasSubsequent	lp_eu:2012-10-26-Speech-5-261-5002
lpv:speaker	lp:Monika Beňová2
lpv:spokenAs	unknown; SMER-Sociálna demokracia (2009-07-14--2014-06-30)3 member; Delegation for relations with Israel (2009-09-16--2014-06-30)3 member; S&D (2012-01-19--2014-06-30)3 substitute; AFET (2012-01-19--2014-06-30)3 member; CRIM (2012-03-28--2013-10-23)3 member; LIBE (2012-01-19--2014-06-30)3
lpv:translated text	". − The financial crisis has exposed weakness in the transparency of financial markets. Strengthening transparency is therefore one of the shared principles to strengthen the financial system, as confirmed by the G20 group of countries’ statement in London on 2 April 2009. In order to strengthen the transparency and improve the functioning of the internal market for financial instruments, a new framework establishing uniform requirements for the transparency of transactions in markets for financial instruments should be put in place. This should establish comprehensive rules for a broad range of financial instruments. The Group on Financial Supervision in the EU, chaired by Jacques de Larosière, invited the Union to develop a more harmonised set of financial regulations. In the context of the future European supervisory architecture, the June 2009 European Council also stressed the need to establish a European single rule book applicable to all financial institutions in the internal market. The new legislation should, as a consequence, consist of two different legal instruments, a directive and this Regulation. I believe that both instruments should form the legal framework governing the requirements applicable to investment firms, regulated markets and data reporting services providers. This directly applicable legal act aims to contribute in a crucial manner to the smooth functioning of the internal market and should therefore be based on the provisions of Article 114 of the Treaty on the Functioning of the European Union, as interpreted in accordance with the consistent case law of the Court of Justice of the European Union."@en1

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