Verbatim report of proceedings

Monday, 15 April 2019 - Strasbourg

Cross-border distribution of collective investment undertakings (Directive) - Cross-border distribution of collective investment undertakings (Regulation) (debate)

  Sirpa Pietikäinen (PPE). – Madam President, there is a desperate lack of both venture capital and own investment from collective investment funds in Europe. As my colleague Neena Gill already said, at the moment, compared with the USA or compared with Asian countries, our situation is close to meaningless because Member States are setting different kinds of rules because of the cost structure and because marketing regulations are very opaque. The investors have not dared to really take up the Capital Markets Union. So I really do welcome this piece of legislation that actually, hopefully, opens things up by setting clearer rules for pre-marketing and marketing regulation, and thus also improves consumer protection. The next steps that should be taken are creating fully fledged European supervision, and then a greater transparency on cost structures.