Activities of Pervenche BERÈS related to 2008/0153(COD)
Plenary speeches (1)
Undertakings for collective investment in transferable securities (UCITS) (recast) (debate)
Amendments (2)
Amendment 109 #
Proposal for a directive
Recital 32
Recital 32
(32) UCITS should be explicitly permitted, as part of their general investment policy and/or for hedging purposes in order to reach a set financial target or the risk profile indicated in the prospectus, to invest in financial derivative instruments. In order to ensure investor protection, it is necessary to limit the maximum potential exposure relating to derivative instruments so that it does not exceed the total net value of the UCITS's portfolio. In order to ensure constant awareness of the risks and commitments arising from derivative transactions and to check compliance with investment limits, these risks and commitments will have to be measured and monitored on an ongoing basis, in particular through procedures enabling to conduct the appropriate due diligence to assess on a regular basis the risks associated with an investment in a credit risk transfer product. Finally, in order to ensure investor protection through disclosure, UCITS should describe their strategies, techniques and investment limits governing their derivative operations.
Amendment 110 #
Proposal for a directive
Recital 32 a (new)
Recital 32 a (new)
(32a) When a UCITS invests in credit risk transfer products, the management or the investment company should put in place, as part of its risk management process, a procedure which permits the management or investment company to ensure that originators and sponsors of these credit risk transfer products retain a certain percentage (at least 5%) of the exposures that they securitize.