2 Amendments of Zsolt László BECSEY related to 2007/2238(INI)
Amendment 87 #
Motion for a resolution
Recital Q
Recital Q
Q. whereas in order to minimise the risk of future financial crises and given the strong interactions across markets and between market participants and given the objective of a level playing field across borders and between regulated and unregulated market participants, the EU needs better, more coherent and harmonised regulation across the board. to establish a common database where business type data (volumes, exposures and leverages) of hedge funds and private equity funds must be stored provided that the concerning hedge funds or private equity funds have transacted business with a counterparty domiciled in EU. This common database should lie under the management of the ECB which should calculate at the end of every quarter the EU aggregate index of financial systemic risk caused by activity of hedge funds and private equity funds. If this financial systemic indicator exceeds a certain level of value set by the ECB and supervisors in concert, the EU supervisors would be entitled to take the necessary measures on the basis of the recommendations of the ECB. In this case the measures put in place should be disclosed to the public and carried out in transparent and prudent way for the investors. Careful assessment of crisis situations and appropriate actions on due time are requisites to avoid real economic slump.
Amendment 151 #
Motion for a resolution
Annex – recommendation 1 – point g
Annex – recommendation 1 – point g
(g) EU supervisory authority The Commission should establish a European supervisor covering all financial services sectors: capital markets, securities, insurance and banking sectors. It should further be established whether there should be two such European supervisors: one for prudential The common database referred to in point c of Annex 2 should lie under the management of the ECB which should calculate at the end of every quarter the EU aggregate index of financial systemic risk caused by activity of hedge funds and private equity funds. If this financial systemic indicator exceeds a certain level of value set by the ECB and supervisors in concert, the EU supervisors would be entitled to take the necessary measures on the basis of the recommendations of the ECB under close surveillance of European Parliament. In this case the measures put in place should be disclosed to the public and carried out in transparent and prudent way for the investors. Caregful assessment of crisis situations and another for cppropriate actions on duct of bue time are requisintess regulation. to avoid real economic slump.