Activites

• 2001/06/22 Final act published in Official Journal
• 2000/10/03 Decision by Parliament, 1st reading/single reading
  • T5-0415/2000 summary

    The report drafted by Peter William SKINNER (PES, UK) concerning risk capital, was adopted by the European Parliament subject to an amendment relating to the freedom of investment of pension funds. The final text adopted called for the following: - that the Commission and Council being forward and apply as soon as possible a proposal for a Directive on Supplementary Pension Funds, as well as a proposal on the taxation of pension fund; - that the Commission begin an ongoing dialogue with all interested parties, including the European Parliament, the Council, the social partners, the European Investment Bank (EIB) and the European Investment Fund (EIF), with regard to the funding instruments currently available to support risk capital; - that the EIB focus in particular on innovative instruments tailored to the needs of the knowledge economy, and to clarify how its Innovation 2000 proposals will be carried through. Furthermore, it calls on the EIB to clarify the respective roles of the EIB and the EIF, and to focus on providing incentives to venture capital funds to invest in higher-risk ventures. Finally, it calls on the EIB to bring forward proposals in this regard by the end of this year; - that the EIB, the EIF and the Commission broaden their support for risk capital investment to a broader range of institutions with a more innovative range of instruments, with a view to supporting SMEs from a wide range of sectors as well as high-tech companies; - that the Commission and the Member States address the shortage of seed and early stage capital; - that the Commission and the Member States consider measures to reduce the stigma of bankruptcy and that the Commission facilitate the sharing of best practice in this area with a view to the elaboration of a recommendation; - that the forthcoming Commission proposal for a Directive on the Community Patent be rapidly adopted and that the Commission support the creation of an EU-wide online patents database linked to the proposed risk capital websites, and to launch an information campaign to provide SMEs with information about the importance of securing patent protection for their designs and how to obtain a patent; - that the Commission and the Council promote innovative software protection models such as the General Public Licence in Europe; - that the Commission develop risk capital initiatives in the accession countries; - finally, that the Commission bring forward by the end of 2000 a follow-up Communication on the Implementation of the Risk Capital Action Plan.�

• 2000/10/02 Debate in Parliament
  • Debate in Parliament
• 2000/09/13 Vote in committee, 1st reading/single reading
  • A5-0235/2000
• 1999/12/17 Committee referral announced in Parliament, 1st reading/single reading
• 1999/10/20 Non-legislative basic document published
  • COM(1999)0493 summary

    OBJECTIVE : Commission Communication on Risk Capital: implementation of the Action Plan and proposals for moving forward. CONTENT : The communication analyses how the Action Plan proposed in April 1998 is being implemented and suggests ways forward. - Risk capital is developing in Europe, but not sufficiently quickly and its allocation remains sub-optimal. The communication describes the various actions taken by the Commission to promote risk capital in Europe. The first assessment of the implementation of the Action Plan by Member States shows positive progress in some areas. - Also described are financial programs implemented by the Community and Member States to stimulate the mobilisation of capital for innovative companies in fields where private investment is lacking. - The document proposes measures to be taken in 2000 to accelerate risk capital development. Both at Community and at national level, the measures already launched should be further enhanced. Core regulatory actions to be taken at Community level are suggested. These include the adoption of prudential rules to allow institutional investors to invest in venture capital and reform of the European Patent System. Core actions to be taken at national level include an examination of the taxation of new firms and investment in venture capital; possible reform of legislation on insolvency and bankruptcy and promotion of innovative employee ownership schemes, including stock options. - The Commission requests the Council to invite it and the Member States to accelerate implementation of the Plan in 2000; to acknowledge that the Commission will review progress via a benchmarking process; and to promote risk capital in the Cardiff report as well as the Broad Economic Guidelines and the Employment Guidelines whenever relevant.�

  • DG [{'url': 'http://ec.europa.eu/dgs/economy_finance/index_en.htm', 'title': 'Economic and Financial Affairs'}],

Documents

• Non-legislative basic document published: COM(1999)0493
• Committee report tabled for plenary, single reading: A5-0235/2000
• Debate in Parliament: Debate in Parliament
• Decision by Parliament, 1st reading/single reading: T5-0415/2000

History

(these mark the time of scraping, not the official date of the change)