(3) The particular ease and the permanent access to on-line gambling services and the potentially high volume and frequency of such an international offer, in an environment which is characterised by isolation of the player, anonymity and an absence of social control are factors likely to develop gambling addiction and lead to other negative consequences (The Court also states that the internet may prove to be a source of risks of a different kind and a greater order in the area of consumer protection, particularly in relation to young people and those with a propensity for gambl ...[+++]ing or likely to develop such a propensity, in comparison with traditional markets for such games)[35].

8. Stresses that a well-governed company should be accountable and transparent to its employees, its shareholders and other stakeholders; reaffirms that directors of financial institutions have to take account of their institution’s, as well as of consumers’ and employees’, long-term interests when taking decisions, in order to minimise risks; this can be accomplished by a legislative requirement for every regulated financial institution in the European Union to describe its business model in its annual report with an explanation of the board’s risk appetite and its understanding of the risk inherent in delivery of the business model; ...[+++] the report should further include a description of the steps the board has taken to ensure that these risks are overseen and managed, and of how remuneration policy is aligned to the delivery of the business model and the management by executives of the risk involved;

It is therefore appropriate to specify clear principles on sound remuneration to ensure that the structure of remuneration does not encourage excessive risk-taking by individuals or moral hazard and is aligned with the risk appetite, values and long-term interests of the credit institution or investment firm.

It is therefore appropriate to specify core principles on sound remuneration to ensure that the structure of remuneration does not encourage excessive risk-taking by individuals or moral hazard and is aligned with the risk appetite, values and long-term interests of the institution and with the legitimate expectations placed on the financial sector by society, while having due regard to their size, internal organisation and the nature, scope and complexity of their activities.

To this end the Commission will: Invite stakeholders to implement good practices when using public funds for venture capital investment; Develop tools and indicators to evaluate the effects of policies on SME financing across Europe; Identify and spread good practices in investment readiness programmes.

The guarantee would not eliminate the risk to senior creditors but would offer better cover for servicing of the senior debt, thereby increasing the likelihood of private partners borrowing for the project.