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Verbatim report of proceedings
Monday, 29 March 2004 - Strasbourg OJ edition

Financial markets
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  Beysen (NI). (NL) Madam President, Commissioner, ladies and gentlemen, in this debate, I would like to ask you to give special attention to Article 17 of the Transparency Directive, which deals with the dissemination of what is termed price-sensitive information. The compromise proposal, as adopted by the Committee on Economic and Monetary Affairs, creates, in my view, another problem. Indeed, the amendment refers to officially designated mechanisms for the central storage of regulated information. Needless to say, I have nothing against a central storage facility for price-sensitive information, but I wonder whether such facilities should be officially designated on a national basis. In my opinion, this will open the floodgates to creating, or retaining, monopolies in the field of the dissemination of information. As I see it, the forming of monopolies is completely at odds with the directive's objective, particularly the removal of national barriers in terms of transparency requirements and the improvement of efficiency, openness and integrity of the European capital market.

 
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