Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-09-10-Speech-2-208-625"
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"en.20130910.34.2-208-625"2
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"Mr President, I welcome this report, because it is very badly needed in order to enhance investor protection and confidence in the markets – and confidence is all important. The report would establish a common regulatory framework on market abuse to ensure the integrity of financial markets in the Union. The proposal extends the scope of the market abuse framework, applying to any financial institution or instrument admitted to trading.
As regards the penalties, we need a common, workable system of penalties. There will be no place, hopefully, as a result of this for market abusers to hide within the European Union. Previous speakers have referred to the sanctions and penalties. The regulation will lay down a set of administrative procedures, sanctions and fines to ensure a common approach in the Member States. Also, the directive will introduce a requirement for all Member States to put in place effective, proportionate and dissuasive criminal sanctions for the most serious insider-dealing and -trading and market manipulation offences. I think it is a good report, but the important thing is that it is workable."@en1
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