Traduction de «valeurs échangées en compensation » (Français → Anglais) :

27. Notes that Member States refuse to grant the Commission (OLAF) access to the content of the data exchanged under Regulation No 1798/2003 and to data exchanged in the framework of Eurocanet; notes the position of the Commission (OLAF) that, if it was granted access to the data, it would generate significant added value by providing analysis on trends and newly detected fraudulent schemes from a Community perspective;

27. Notes that Member States refuse to grant the Commission (OLAF) access to the content of the data exchanged under Regulation (EC) No 1798/2003 and to data exchanged in the framework of Eurocanet; notes the position of the Commission (OLAF) that, if it was granted access to the data, it would generate significant added value by providing analysis on trends and newly detected fraudulent schemes from a Community perspective;

Unbundling of different elements in the clearance and settlement value chain is not something we propose at this stage, but I would like to have more assurance that cross-subsidies do not exist in this industry and that custodian banks are free to transfer securities outside their home conglomerates.

1. Transferable securities shall be considered freely negotiable for the purposes of Article 40(1) of Directive 2004/39/EC if they can be traded between the parties to a transaction, and subsequently transferred without restriction, and if all securities within the same class as the security in question are fungible.

9. Proposes that the forthcoming revision of Directive 93/22/EEC should provide for Member States to grant a right of access for investment firms from other Member States to central counterparty, clearing and settlement systems in their territory and that those systems should be subject to the transparent and objective criteria applicable to local participants; proposes that an information statement be drawn up identifying the fundamental differences between the Member States" laws affecting clearing and settlement systems, in order to guide market participants; considers that in the long-term the creation of a securities code could be ...[+++] envisaged; takes the view, however, that this should be a long-term goal, since it is not feasible in the short term due to the necessity of dealing with differences concerning the legal framework for sensitive issues such as company law, property rights and insolvency law; proposes that a working party of securities experts should be set up rapidly to study in detail the questions raised by harmonisation of securities legislation in the EU and to propose solutions to the abovementioned differences;

9. Proposes that the forthcoming revision of Directive 93/22/EEC should provide for Member States to grant the right of access for investment firms from other Member States to central counterparty, clearing and settlement systems in their territory and that these systems should be subject to the harmonised transparent and objective criteria applicable to local participants; proposes that an information statement be drawn up identifying the fundamental differences between the Member States’ laws affecting clearing and settlement systems, in order to guide market participants; considers that in the long-term the creation of a securities cod ...[+++]e could be envisaged; takes the view, however, that this should be a long-term policy ambition, since this is not a feasible short-term goal due to the necessity of dealing with differences with regard to the legal framework for sensitive issues such as company law, property rights and insolvency law; proposes that a working party of securities-law experts should be set up rapidly to study in detail the questions raised by harmonisation of securities law within the EU and to propose solutions to the differences recorded;