unimelb-nlp/MultiEup-v2 huggingface dataset:
Debate: Markets in financial instruments – EU Recovery prospectus and targeted adjustments for financial intermediaries to help the recovery from the COVID- pandemic
Date: WEDNESDAY, 10 FEBRUARY 2021
Speaker: Eero Heinäluoma
Political group: S-D
Country: Sweden
Language: EN

Firstly, the exact link between the proposed changes and the COVID pandemic is rather weak and we risk watering down the legislative framework without a proper political and technical evaluation. Clearly, we cannot use this health crisis to set a deregulating agenda of the financial sector.  Secondly, we struggle to believe that issuers’ ability to raise capital is massively improved by stopping to disclose losses to professional investors, by suspending best execution reports, or by deleting quantitative elements from the ancillary tests. Thirdly, by reducing clarity on product governance rules and the real costs linked to investment products, this quick-fix completely fails to protect investors against all sorts of misselling. Such a step is never justified, and even less so in times of crisis. The S&D Group wants to support SMEs by facilitating the raising of capital and at the same time safeguarding the transparency framework for retail and institutional investors. Please listen to consumer organisations, think-tanks and ESMA, for example, before making your decisions. The best way to do this reform is through the overall review of MiFID/MiFIR later this year.  To my appreciated and experienced EPP colleague, I would like to say I would like to take seriously your words that the EPP is not promoting a deregulation agenda. If that is the case, you can show it later this year when we are doing the overall review of MiFID II. That will be the litmus test for you and your words in front of this Parliament.
Debate: Markets in financial instruments – EU Recovery prospectus and targeted adjustments for financial intermediaries to help the recovery from the COVID- pandemic
Date: WEDNESDAY, 10 FEBRUARY 2021
Speaker: Billy Kelleher
Political group: Renew
Country: Denmark
Language: EN

I suppose we could talk forever with regard to the challenges that businesses face in terms of accessing credit and accessing capital. So any regulations that are changed in the terms of the MiFID ‘quick fix’ and the Prospectus Regulation are welcome in this emergency climate. We are in an emergency situation. We have shrinking economies across Europe, and we have companies that are crying out for cash injections and for access to capital. So I do welcome that.  Of course, the challenge is – and this probably wasn’t foreseen last year – that we are now a year into the COVID pandemic and, while there is an end in sight, it is a long way away. From that perspective, I do believe that we have to be very creative from now until when we can start to unwind from the COVID pandemic to ensure that there is capital, and liquidity and credit available right across the European Union. I don’t think the traditional banking sector will be able to supply that. So I would also urge for a rapid move in terms of the Capital Markets Union and the outstanding issues there to ensure that this is in place for the hopeful upturn that will come post-COVID pandemic.
Debate: Markets in financial instruments – EU Recovery prospectus and targeted adjustments for financial intermediaries to help the recovery from the COVID- pandemic
Date: WEDNESDAY, 10 FEBRUARY 2021
Speaker: Gunnar Beck
Political group: ID
Country: Germany
Language: DE

Infolge unverhältnismäßiger Lockdowns als Antwort auf eine milde Epidemie, die Ostasien schnell eindämmte, doch die EU überfordert, erlebt die EU gerade den größten Wirtschaftseinbruch in Friedenszeiten. Die Antwort: Dieses Haus stimmt für 750 Milliarden illegale EU-Schulden und einen Aufbaufonds gegen Klimawandel und für mehr Migration – so sinnvoll in etwa für den Aufbau wie die Bewässerung der Sahara. Doch die Wüste wächst und dürstet nach privaten Investitionen. Damit dies geschehe, werden Offenlegungspflichten nun wieder gelockert, denn der
Debate: Markets in financial instruments – EU Recovery prospectus and targeted adjustments for financial intermediaries to help the recovery from the COVID- pandemic
Date: WEDNESDAY, 10 FEBRUARY 2021
Speaker: Ernest Urtasun
Political group: Verts/ALE
Country: Belgium
Language: ES

Y con el paquete que se presenta hoy tenemos el contraejemplo —lo que es una reforma justificada y lo que no—. Nosotros vamos a apoyar la reforma del folleto: primero, porque está limitada en el tiempo; segundo, porque está perfectamente encuadrada en la crisis de la COVID-19: hacemos un folleto nuevo específicamente para la recuperación, añadiendo además información nueva relacionada con la COVID-19, como, por ejemplo, si esa empresa ha recibido ayudas de Estado —eso va a estar—, y por lo tanto, para nosotros, está perfectamente justificada y recibirá nuestro apoyo. Pero en el retoque de la MiFID no podemos estar de acuerdo; seguimos sin estar convencidos de que eso sea necesario: primero, como ha dicho la comisaria, porque, a pesar de que la Directiva dice que, antes de proceder a una revisión, necesitamos una evaluación de impacto, no tenemos esa evaluación de impacto aún; y además también porque, en cuanto al argumento de la liquidez en los mercados emergentes de energía, no se nos ha explicado suficientemente bien por qué eso es necesario; y, en cualquier caso, si lo fuera, podríamos esperar perfectamente a la revisión global de la MiFID que tenemos que hacer en unos meses para poder afrontar este debate que es muy delicado, ya que los mercados de energía son extremadamente volátiles y tienen efectos no solo en los mercados de energía, sino también, en función de cómo evolucionen los precios, en otros como los alimentarios. Por lo tanto, esa segunda reforma no está justificada, y el Grupo de los Verdes no va a apoyarla.
Debate: Markets in financial instruments – EU Recovery prospectus and targeted adjustments for financial intermediaries to help the recovery from the COVID- pandemic
Date: WEDNESDAY, 10 FEBRUARY 2021
Speaker: Johan Van Overtveldt
Political group: ECR
Country: Spain
Language: EN

I therefore welcome the Commission’s swift action to propose targeted amendments to MiFID II and the Prospectus Directive, and also congratulate the rapporteurs Mr Ferber and Mr Kovařík for their work. To recover from the unprecedented health crisis, companies desperately need access to capital. Our regulatory framework should therefore enable, and not hinder, financial markets to contribute to the recovery. It is indeed appropriate to reduce costs and administrative burdens where this is possible, without putting in danger market integrity and investor protection. The capital markets union, Madam Commissioner, is crucial for rebuilding the EU’s economy after coronavirus. It is also crucial for the long—term sustainability of our monetary union, and it is also very important for increasing efficient absorption of risks within the monetary union. So I really would ask you to speed up the work on this capital markets union. It is in all our interests.
Debate: Markets in financial instruments – EU Recovery prospectus and targeted adjustments for financial intermediaries to help the recovery from the COVID- pandemic
Date: WEDNESDAY, 10 FEBRUARY 2021
Speaker: José Gusmão
Political group: The Left
Country: Finland
Language: PT

Mas não se percebe muito bem, e mais confusa do que qualquer informação em qualquer prospeto de um produto financeiro, é a justificação para estas duas iniciativas. Se a informação que está a ser cortada nos prospetos para os produtos financeiros nesta proposta não é informação relevante, é redundante, só confunde, não se percebe muito bem porque é que essa informação seja retirada de forma permanente, e também não se percebe muito bem em que é que retirar informação dos prospetos ajuda à recuperação económica. Se os produtos financeiros são bons, então toda a informação apenas convencerá os investidores a apostarem nesses produtos financeiros. Se os produtos não forem assim tão bons, então a doutrina que preside a esta proposta é enganar os pequenos investidores para ajudar a economia que é, como quem diz, ajudar os bancos. A desregulação financeira nunca serviu para recuperar de nenhuma crise financeira. Quantas crises financeiras é que esta Comissão vai ajudar a provocar até aprender essa regra tão simples? Eu venho de um país em que centenas, aliás, milhares de pequenos investidores foram enganados por um banco, perdendo as poupanças de uma vida inteira, precisamente por causa da falta de informação relevante em relação aos produtos que estavam a subscrever. A culpa desses crimes morreu solteira. Nem as instituições europeias nem as nacionais responderam por essas fraudes e gostaria muito de poder dizer a esses pequenos investidores que essas coisas não se voltarão a repetir. Estas propostas não ajudam a que essa promessa seja cumprida.
Debate: Markets in financial instruments – EU Recovery prospectus and targeted adjustments for financial intermediaries to help the recovery from the COVID- pandemic
Date: WEDNESDAY, 10 FEBRUARY 2021
Speaker: Sirpa Pietikäinen
Political group: PPE
Country: Italy
Language: EN

Madam President, as one of the shadow rapporteurs for the Prospectus Directive, I think that we are striking a very good balance between consumer protection and easing the possibility for companies, SMEs included, to collect desperately needed capital in the aftermath of the COVID—19 outbreak. I would repeat the point of informing investors about the impacts of COVID—19, on the information given. But we need to see that even though it is a strong stress for our companies, it is also a strong possibility for renewable technologies, future—proof environmental and digitalisation, and innovative companies. We do need to give the possibility for these kind of companies to collect in an easier way the desperately needed capital, so that they are the future growing entities of our economy, and the ones that seek to raise our economy, employment and competitiveness in the longer term as well.
Debate: Markets in financial instruments – EU Recovery prospectus and targeted adjustments for financial intermediaries to help the recovery from the COVID- pandemic
Date: WEDNESDAY, 10 FEBRUARY 2021
Speaker: Alfred Sant
Political group: S-D
Country: Denmark
Language: EN

Madam President, while following the path of economic and financial reforms, in the long-run we must preserve our regulatory standards and prudential rules. Without abandoning them, we ought, however, to be able to adjust flexibly to crisis situations like the one we now face with COVID-19. There is an urgent need to mobilise private capital, not least at SME level, in order to counter the hits that have crippled too many companies. Quick temporary fixes that lighten regulatory burdens on how companies finance their operations without undermining investor protection make sense. The setting-up of an EU Recovery Prospectus until December 2022, in the framework of the capital markets’ recovery package, is one such quick fix.  It should incentivise issuers and investors and help to inject new liquidity in businesses, for drawing up an investment prospectus can be expensive, which might deter issuers from seeking to raise new funds. By lowering this expense, the EU Recovery Prospectus makes new investment less onerous. Provided issuers of shares already are admitted to trading on a regulated market, or investing in a growth with market continuously for at least the last 18 months, the condensed disclosure requirements in the prospectus should now reduce launch costs and make the document easier to read. Correspondingly, limited to the recovery phase, an offer of such securities is, under certain conditions, not subject to the obligation of publishing a prospectus. The threshold has been doubled to  EUR 150 million to allow more offers to be exempted.  The EU Recovery Prospectus will carry minimum essential information for secondary issuance of shares. However, it would also need to have an additional concrete reference to the impact of the COVID-19 on the business of the issuer. It must explicitly inform potential investors of how the businesses concerned by the issuance have been affected by COVID-19. With these simplified features, approval of the Recovery Prospectus should be possible more quickly, for investment speed is of the essence in the recovery. It was encouraging to note the strong political will for this project to succeed shown by all members of the Council, the Commission and not least, most sides...  (
Debate: Markets in financial instruments – EU Recovery prospectus and targeted adjustments for financial intermediaries to help the recovery from the COVID- pandemic
Date: WEDNESDAY, 10 FEBRUARY 2021
Speaker: Engin Eroglu
Political group: Renew
Country: Germany
Language: DE

Sehr geehrte Frau Präsidentin, sehr geehrte Frau Kommissarin! Alles das, was wir heute hier besprechen, hat noch einiges mit der Finanzkrise aus 2008 zu tun. Wir erinnern uns: US-Banken haben also Immobilien in Wertpapieren gebündelt, diese nach Europa verkauft – die Wertpapiere waren sozusagen giftig. Dies führte dazu, dass wir eine gigantische Finanzmarktkrise in Höhe von circa drei Billionen EUR hatten. Das Ergebnis daraus ist: Aus der Panik heraus, was völlig richtig war, haben wir angefangen, die Finanzmärkte insgesamt in allen Bereichen zu regulieren. Was sich jetzt herausgestellt hat: Es ist eine Überregulierung, die zu erheblichen Fixkosten führt.  Diese erheblichen Fixkosten verursachen, dass immer mehr Banken und Finanzdienstleister, die noch beratend tätig sind, die den Kunden beraten, fusionieren und aus dem Markt verschwinden. Immer mehr Maklerunternehmen, die nur noch durch Klicks Finanzprodukte und Kredite vermitteln, wachsen aus dem Internet heraus.  Unser Ziel muss es sein, so viel persönliche Beratung wie möglich im Finanzmarktsektor zu haben, und das geht nur, indem wir diese Fixkosten senken und Volksbanken und Sparkassen in Deutschland die Möglichkeit haben, als stabiler Anker auch für Europa Finanzdienstleistungen anzubieten.
Debate: Markets in financial instruments – EU Recovery prospectus and targeted adjustments for financial intermediaries to help the recovery from the COVID- pandemic
Date: WEDNESDAY, 10 FEBRUARY 2021
Speaker: Roman Haider
Political group: ID
Country: France
Language: DE

Frau Präsidentin! Wie so oft in der EU gibt es hier eine schöne Überschrift – aber sonst ist sehr wenig dahinter.  Die EZB pumpt seit einem Jahrzehnt völlig ungehemmt Unmengen an frischem Geld in die Finanzmärkte und hat mit dieser desaströsen Finanzpolitik nur den Pleitestaaten und den Finanzspekulanten geholfen. In der Realwirtschaft ist aber nur ein Bruchteil dieser Billionen an Euro angekommen. Die Lockerung von ein paar Vorschriften und die Einführung eines neuen Prospekts werden da auch nicht viel helfen.  Ich erinnere außerdem daran, dass die EU gleichzeitig ein riesiges Projekt zur Vernichtung der europäischen Industrie vorantreibt. Dieses Projekt heißt  Solange die EU nicht von ihrem ideologiegetriebenen Handeln ablässt und zu einem Weg der Vernunft und Realpolitik zurückfindet, werden auch die schönsten Pläne nicht helfen.
Debate: Markets in financial instruments – EU Recovery prospectus and targeted adjustments for financial intermediaries to help the recovery from the COVID- pandemic
Date: WEDNESDAY, 10 FEBRUARY 2021
Speaker: Eugen Jurzyca
Political group: ECR
Country: Belgium
Language: SK

Pani predsedajúca, dnešný prospekt poskytujúci investorovi informácie o spoločnosti, do ktorej sa chystá investovať, má stovky strán. Je komplikovaný a stojí emitenta približne milión eur. Podporujem preto zavedenie nového, lacnejšieho prospektu obnovy, ktorý bol navrhnutý ako dočasné zjednodušenie v reakcii na Covid. Ochrana investora výrazne neutrpí a pri maxime 30 strán ušetrí spoločnostiam podľa odhadov Komisie 50 % nákladov. Je mi však ľúto, že sa vo finálnom texte nepodarilo vylepšiť indikátory pre budúcoročnú hodnotiacu správu Komisie k prospektu. Podiel EÚ na globálnom trhu sa zmenšuje, pričom európske kapitálové trhy sú ďaleko od využitia svojho plného potenciálu. Na budúce zlepšenie nariadenia preto budeme potrebovať relevantné dáta, ktoré nám ukážu pravdivý obraz o situácii.
Debate: Markets in financial instruments – EU Recovery prospectus and targeted adjustments for financial intermediaries to help the recovery from the COVID- pandemic
Date: WEDNESDAY, 10 FEBRUARY 2021
Speaker: João Ferreira
Political group: The Left
Language: PT

Senhor Presidente, as dificuldades económicas causadas pela COVID-19 servem de pretexto à Comissão Europeia para colocar a sua mão protetora sobre os mercados financeiros. A pandemia é o pretexto para reduzir exigências de informação instituídas após a crise financeira que rebentou em 2008. O pretexto para suspender e aliviar medidas que visam tornar mais transparentes estes mercados no contexto de uma maior regulação que é, desta forma, relaxada à primeira oportunidade. Curioso, ou talvez não, é o facto de os mercados bolsistas registarem um maior volume de negócios e de transações, também uma maior volatilidade durante a pandemia, razão pela qual será, no mínimo, questionável a necessidade invocada de recuperação dos mercados de capitais. Estes mercados não foram fustigados pela tremenda crise que hoje atravessamos, como o foram milhões de trabalhadores que ficaram sem trabalho e sem sustento. Como o foram tantos micro, pequenos e médios empresários. Todos estes, sim, carecem de uma proteção especial. Nenhum deles ganha com medidas deste tipo. A pandemia veio deixar mais claro em que mundo vivemos. Em momentos como este as águas ficam mais claramente separadas.  Como dizia o outro “É o capitalismo, estúpido!”.
Debate: Markets in financial instruments – EU Recovery prospectus and targeted adjustments for financial intermediaries to help the recovery from the COVID- pandemic
Date: WEDNESDAY, 10 FEBRUARY 2021
Speaker: Enikő Győri
Political group: PPE
Country: Luxembourg
Language: HU

Tisztelt Elnök Úr! Tisztelt Képviselőtársaim! Jól tudjuk, hogy a koronavírus-válság hatalmas nyomás alatt tartja az európai gazdaságot. Most a cégek túlélésére és a több millió munkahely megmentésére kell koncentrálnunk. A pénzügyi szektor szabályozását is ennek szolgálatába kell állítanunk. Ezt segíti a most tárgyalt tőkepiaci helyreállítási csomag. Remélem, hogy a terem bal oldala is megérti ezt végre. Nem ragaszkodhatunk az eddigi merev szabályokhoz. Csökkentenünk kell az adminisztratív terheket és meg kell könnyítenünk a tőkepiaci befektetések működését. Kiemelt figyelmet kell szentelnünk a lakossági ügyfeleknek, akik kevesebb ismerettel rendelkeznek, így nagyobb védelemre és tájékoztatásra szorulnak, amikor befektetnek.  A tőkepiaci unió határokon átnyúló módon tenné lehetővé, hogy a vállalkozások friss forrásokhoz jussanak, ezért megvalósulása központi szerepet kaphatna a gazdaságélénkítésben. Annál is inkább, hiszen egyre nehezebb biztosítani az európai tőkepiacok versenyképességét a sokkal nagyobb és hatékonyabban működő amerikai vagy a gyorsan növekvő kínai tőkepiacokhoz képest. Ráadásul a brexit miatt az EU elveszítette a legfejlettebb pénzügyi piacát. Bőven van tehát tennivalónk. E célok elérését segíti a most tárgyalt két jogszabály-módosítás, tehát azokat maximálisan támogatom és nagyon remélem, hogy a baloldal végül meggondolja magát.
Debate: Markets in financial instruments – EU Recovery prospectus and targeted adjustments for financial intermediaries to help the recovery from the COVID- pandemic
Date: WEDNESDAY, 10 FEBRUARY 2021
Speaker: Jonás Fernández
Political group: S-D
Country: Ireland
Language: ES

Señor presidente, señora comisaria, señora presidenta en ejercicio del Consejo, mi Grupo ha negociado, pactado y votado favorablemente, en los últimos seis meses, distintos textos legislativos para facilitar la financiación de las empresas y hacer frente a los retos financieros que nos generaba la crisis del coronavirus.  Hemos negociado, pactado y votado la revisión del RRC, hemos hecho lo mismo con las STS, con el cambio del RRC que exigía la revisión de las STS. Hemos negociado también el texto de folletos y también lo hemos hecho con el texto de  Y quizá sería bueno decir que, en un texto, señora comisaria, de apenas doce páginas de articulado, el ponente nos presentó veintinueve enmiendas. Mi Grupo ha intentado mantener este texto lo más cercano posible a la propuesta inicial de la Comisión. Y no ha sido posible. No hemos logrado convencer al ponente y al resto de grupos de la Cámara, a la derecha de esta Cámara, de que era necesario mantenerse en el perímetro de la propuesta de la Comisión. Y, por lo tanto, no podremos votar a favor.
Debate: Markets in financial instruments – EU Recovery prospectus and targeted adjustments for financial intermediaries to help the recovery from the COVID- pandemic
Date: WEDNESDAY, 10 FEBRUARY 2021
Speaker: Maximilian Krah
Political group: ID
Country: Greece
Language: DE

Herr Präsident, meine Damen und Herren Kollegen, lieber Berichterstatter Ferber! MiFID war immer ein Regulierungsmonster, das den Großbanken und Konzernen nicht so viel zu schaffen gemacht hat wie der mittelständischen Wirtschaft. Ein Viertel aller Unternehmen hat angegeben, es sei nicht imstande gewesen, das richtige Formular zu finden, um den Anforderungen gerecht zu werden. Die deutsche Ratspräsidentschaft war deshalb immer kritisch zu MiFID, und Brexit und COVID zwingen uns jetzt zu einer Deregulierung. Wir hätten uns eine mutigere Deregulierung gewünscht, und wir müssen zur Kenntnis nehmen, dass den Berichterstatter dann ein wenig der Mut verlassen hätte, obwohl die Mehrheit in diesem Haus gestanden hat. Wir werden gleichwohl zustimmen, weil uns der Spatz in der Hand lieber ist als die Taube auf dem Dach, und insbesondere freut uns, dass die Positionsbegrenzungsregulierung für Warenderivate der Industrie reduziert werden kann – das ist das, was die deutsche und europäische klein- und mittelständische Industrie benötigt. Wir werden also zustimmen; es darf dabei aber nicht bleiben. Die Wirtschaft in der Eurozone braucht weniger linksgrüne Überregulierung und mehr Vertrauen und mehr Freiheiten, und das schafft Wohlstand.
Debate: Markets in financial instruments – EU Recovery prospectus and targeted adjustments for financial intermediaries to help the recovery from the COVID- pandemic
Date: WEDNESDAY, 10 FEBRUARY 2021
Speaker: Aurore Lalucq
Political group: S-D
Country: France
Language: FR

Monsieur le Président, chers collègues, nous sommes face à une crise historique, et que proposent certains d’entre nous, finalement? Ils proposent de profiter de cette crise pour faire plus de déréglementation, plus de dérégulation, pour enlever tous les garde-fous qui avaient été créés pour protéger au maximum les Européens de prochaines crises financières, de prochaines crises bancaires. Ceux-là même qui nous font en général des leçons de management des finances publiques et des leçons de responsabilité sont en train de pousser très loin la question de la déréglementation. Ne vous inquiétez pas, ils seront évidemment là quand il faudra venir au secours des banques grâce aux finances publiques, mais ils seront également là par la suite pour nous dire qu’il faudra faire des efforts d’un point de vue des finances publiques. Pourquoi? Parce qu’on aura alimenté la dette publique pour pouvoir soutenir certaines banques et certains acteurs financiers. La prochaine fois, proposons à ces personnes de sauver les Européens plutôt que les banques d’abord. Proposons-leur aussi d’assumer les risques et la responsabilité qu’ils prennent en faisant de la déréglementation financière et de payer eux-mêmes la prochaine crise, s’il y en a une.