EP News No. 448 (20 May 2010)

MEPs return to their constituencies for the week beginning 24 May 2010, unless they are on official delegations and visits abroad. Among these are the following:

• Eastern Region MEPs Richard Howitt (Labour) and Andrew Duff (LibDem) go to Turkey, 25-26 May, for discussions with Turkish MPs and EU accession negotiators.
• Sajjad Karim MEP (Cons, North West) goes to Syria, 25-28 May - meetings with Syrian President and Deputy PM.

Parliament sessions 2011

MEPs adopted the calendar of plenary sessions in Strasbourg and Brussels for 2011. Click here to view the schedule.

Hedge Funds - Alternative Investment Fund Managers Directive

The Parliament's Economic and Monetary Affairs Committee adopted its 1st reading position on the proposed directive governing hedge funds and other alternative investment funds.

Among the key amendments adopted in Monday evening's vote:

• new rules for alternative investment fund managers located outside the EU;
• lighter-touch regulations for private equity and investment trusts;
• increased disclosure requirements meaning more information to investors;
• maximum levels of leverage (borrowing) and information to investors on leverage;
• a ban on so-called 'naked short selling', which can be used to gamble on values of securities falling.

For full details on the outcome of the committee vote, see the press release on the European Parliament's main website.

With the Council of Ministers also reaching agreement this week on their 1st reading position, negotiations can now open between MEPs and representatives of the Council with a view to reaching agreement on a text before the two institutions proceed to formal 1st reading adoptions. If there is no agreement in these discussions, the 1st reading votes may take place and the proposal would return for a 2nd reading at a later stage.

On leaving the vote in committee on Monday, the Parliament's rapporteur, Jean-Paul Gauzès (France, EPP), said: "This position will ensure better transparency and better investor protection while at the same time being on the side of the financial industry when it is working for the real economy".

Energy efficiency - buildings and labelling

Labels on household appliances such as fridges, washing machines and ovens will have to include more information on energy consumption, following a vote by MEPs on Wednesday. Parliament approved a new layout of the EU energy efficiency label introducing additional "plus" classes to the familiar colour scheme.

On Tuesday 18 May, MEPs approved the EU's new energy efficiency legislation for buildings, which will help consumers to cut their energy bills and the EU as a whole to hit its climate change target of using 20% less energy in ten years' time. Member States will have to alter their building codes so that all new buildings constructed from the end of 2020 meet high energy-saving standards. Existing buildings will have to be upgraded where possible. For the full press release, issued on Wednesday 19 May, click here.

Two UK MEPs spoke in Monday's debate: Fiona Hall (LibDem, North East); Vicky Ford (Conservative, Eastern.

Organ donations

People needing organ transplants should face shorter waiting times after Parliament approved on Wednesday a draft directive on quality and safety standards for human organs used for transplants. The directive covers all stages of the chain from donation to transplantation and provides for cooperation between Member States.

For the full press release issued on 19 May, click here.

UK MEPs who took part in Tuesday's debate: Marina Yannakoudakis (Cons, London); Jim Nicholson (UUP, Northern Ireland).

1 January-30 June 2010: Spanish Presidency

1 July-31 December 2010: Belgian Presidency

European Parliament plenary sessions 2010

14-17 June, Strasbourg
5-8 July, Strasbourg
6-9 September, Strasbourg
20-23 September, Strasbourg
6-7 October, Brussels
18-21 October, Strasbourg
10-11 November, Brussels
22-25 November, Strasbourg
13-16 December, Strasbourg