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“This crisis is a major market failure and calls for strong responses from all the EU policy makers”, Pervence Beres, chairwoman of the EP ECON Committee said and announced new parliamentary initiatives.
The chair complained about missing comprehensive analysis from the Commission of the existing EU regulatory and supervisory framework in the light of the pre-existing deficiencies, and announced an upcoming report on Lamfalussy follow-up- Future Structure of Supervision to be presented by MEPs Ieke van den Burg and Daniel Dăianu.
Together with the draft report on Hedge funds and private equity, prepared by Mr Rasmussen, ECON will prepare recommendations for immediate legislative initiatives on and beyond the reform of the EU regulatory and supervisory framework.