Andrew Doyle (Wicklow, Fine Gael)
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180. To ask the Minister for Finance his views on the recent vote of the European Parliament that voted against curbing fund managers bonuses; the way this move affects Ireland's position on Undertakings for Collective Investment in Transferable Securities Directives; and if he will make a statement on the matter. [33461/13]

Michael Noonan (Limerick City, Fine Gael)
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The recent vote in the European Parliament on aspects of the UCITS V proposal has no immediate effects. The UCITS V proposals will be determined by the co-decision process between the Council and the European Parliament and the shape of any final UCITS V Directive remains to be seen. Discussions within the Council on the proposal are still at a relatively early stage and it would not be appropriate for me to pre-empt those discussions or future negotiations between the Council and the European Parliament on this issue.