BETA

73 Amendments of Burkhard BALZ related to 2017/0230(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a a (new)

Regulation (EU) No 1093/2010
Article 1 – paragraph 5 – subparagraph 4 a (new)

(aa) In paragraph 5 the following subparagraph is added: The content and form of the Authority's actions and measures shall not exceed what is necessary to achieve the objectives of this Regulation or the acts referred to in paragraph 2 and shall be proportionate to the nature, scale and complexity of the risks inherent in the business of an institution, undertaking, other subject or a financial activity that is affected by the Authority's action. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point a

Regulation (EU) No 1093/2010
Article 6 – point 2

(2) a~~n Executive~~ Management Board, which shall exercise the tasks set out in Article 47; (This amendment shall)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point b

Regulation (EU) No 1093/2010
Article 6 – point 4

~~(b) point (4) is deleted;~~deleted (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a – point iv

Regulation (EU) No 1093/2010
Article 8 – paragraph 1 – point h

(h) to ~~foster~~address, where relevant, deficiencies in depositor, consumer and investor protection;;, in particular in a cross-border context; (This amendment also applies to Article 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point b

Regulation (EU) No 1093/2010
Article 8 – paragraph 1a – point c

(c) take ~~account~~consideration of technological innovation, innovative and sustainable business models, ~~and the integration of environmental, social and governance~~where necessary to safeguard a constantly high level of supervision across the EU and to prevent regulat~~ed factors;~~ory arbitrage; (This amendment applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point c a (new)

Regulation (EU) No 1093/2010
Article 8 – paragraph 2a

(ca) paragraph 2a is replaced by the following: "2a. When carrying out the tasks referred to in paragraph 1 and exercising the powers referred to in paragraph 2, the Authority shall have due regard to the principles of proportionality, subsidiarity and better regulation, including the results of cost- benefit analyses produced in accordance with this Regulation. ~~(https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02010R1093-~~" (This amendment also applies throughout Articles 2 and 3.) Or. en 20160112&from=EN)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 6 – point b

Regulation (EU) No 1093/2010
Article 9 – paragraph 4

4. The Authority shall establish, as an integral part of the Authority, a Committee on proportionality, to ensure that the differences in the nature, risk and complexity of financial institutions is reflected in the work of the Authority, and a Committee on financial innovation, which brings together all relevant competent authorities and authorities responsible for consumer protection with a view to achieving a coordinated approach to the regulatory and supervisory treatment of new or innovative financial activities and providing advice for the Authority to present to the European Parliament, the Council and the Commission. The Authority may also include national data protection authorities as part of the Committee.; (This amendment applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 6 a (new)

Regulation (EU) No 1093/2010
Article 10 – paragraph 1

1. Where the European Parliament and the Council delegate power to the Commission to adopt regulatory technical standards by means of delegated acts pursuant to Article 290 TFEU in order to ensure consistent harmonisation in the areas specifically set out in the legislative acts referred to in Article 1(2), the Authority may develop draft regulatory technical standards. The Authority shall submit its draft standards to the Commission for endorsement. Regulatory technical standards shall be technical, shall not imply strategic decisions or policy choices and their content shall be delimited by the legislative acts on which they are based. Before submitting them to the Commission, the Authority shall conduct open public consultations on draft regulatory technical standards and analyse the potential related costs and benefits, unless such consultations and analyses are disproportionate in relation to the scope and impact of the draft regulatory technical standards concerned or in relation to the particular urgency of the matter. The Authority shall also request the opinion of the Banking Stakeholder Group referred to in Article 37. Where the Authority submits a draft regulatory technical standard, the Commission shall immediately forward it to the European Parliament and the Council. Within 3 months of receipt of a draft regulatory technical standard, the Commission shall decide whether to endorse it. The Commission may endorse the draft regulatory technical standards in part only, or with amendments, where the Union’s interests so require. Where the Commission intends not to endorse a draft regulatory technical standard or to endorse it in part or with amendments, it shall send the draft regulatory technical standard back to the Authority, explaining why it does not endorse it, or, as the case may be, explaining the reasons for its amendments. Within a period of 6 weeks, the Authority may amend the draft regulatory technical standard on the basis of the Commission’s proposed amendments and resubmit it in the form of a formal opinion to the Commission. The Authority shall send a copy of its formal opinion to the European Parliament and to the Council. If, on the expiry of that six-week period, the Authority has not submitted an amended draft regulatory technical standard, or has submitted a draft regulatory technical standard that is not amended in a way consistent with the Commission’s proposed amendments, the Commission may adopt the regulatory technical standard with the amendments it considers relevant, or reject it. The Commission may not change the content of a draft regulatory technical standard prepared by the Authority without prior coordination with the Authority, as set out in this Article. (https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02010R1093-(6a) In Article 10, paragraph 1 is amended as follows: "1. Where the European Parliament and the Council delegate power to the Commission to adopt regulatory technical standards by means of delegated acts pursuant to Article 290 TFEU in order to ensure consistent harmonisation in the areas specifically set out in the legislative acts referred to in Article 1(2), the Authority may develop draft regulatory technical standards. The Authority shall submit its draft regulatory standards to the Commission for endorsement. At the same time the Authority shall forward them for information to the European Parliament and the Council. Regulatory technical standards shall be technical, shall not imply strategic decisions or policy choices and their content shall be delimited by the legislative acts on which they are based, and they shall take into account the principle of proportionality and subsidiarity. Before submitting them to the Commission, the Authority shall conduct open public consultations on draft regulatory technical standards and analyse the potential related costs and benefits in accordance with Article 8 (2a), unless in exceptional circumstances where such consultations and analyses are disproportionate in relation to the scope and impact of the draft regulatory technical standards concerned or in relation to the particular urgency of the matter. The Authority shall also request the advice of the Banking Stakeholder Group referred to in Article 37. The authority shall state in the impact assessment of the draft regulatory standard how it took into account the principles of proportionality and subsidiarity. In case the Authority decides not to conduct open public consultations, the Authority shall state the exceptional circumstances in the impact assessment on the draft regulatory standards. Where the Authority submits a draft regulatory technical standard, the Commission shall immediately forward it to the European Parliament and the Council. Within 3 months of receipt of a draft regulatory technical standard, the Commission shall decide whether to endorse it. The Commission may endorse the draft regulatory technical standards in part only, or with amendments, where the Union’s interests so require. In the event that the Commission cannot reach a decision within three months whether to adopt the regulatory technical standards, it shall immediately, and in any event before the expiry of the three months period, inform the European Parliament and the Council thereof, indicating the reasons for not being in a position to reach a decision and the planned timeline for endorsement, taking due account of the implementation and application date of the applicable legislative act referred to in Article 1 (2). Any delayed adoption of the draft regulatory standards shall not prevent the European Parliament and the Council from exercising their scrutiny powers in accordance with Article 13. Where the Commission intends not to endorse a draft regulatory technical standard or to endorse it in part or with amendments, it shall send the draft regulatory technical standard back to the Authority, explaining why it does not endorse it, or, as the case may be, explaining the reasons for its amendments, and shall send a copy of its letter to the European Parliament and the Council. Within a period of 6 weeks, the Authority may amend the draft regulatory technical standard on the basis of the Commission’s proposed amendments and resubmit it in the form of a formal opinion to the Commission. The Authority shall send a copy of its formal opinion to the European Parliament and to the Council. Before submitting the amended draft regulatory standards to the Commission, the Authority shall conduct open public consultations on the effects of the amendments introduced by the Commission and analyse the costs and benefits, unless the Commission has done so before or in exceptional circumstances where such consultations and analyses are disproportionate in relation to the scope and impact of the amendments concerned or in relation to the particular urgency of the matter. Where the Authority conducts open public consultations on the draft regulatory standards, the six-week period is extended to eight weeks. Where the Authority decides not to conduct open public consultations, it shall state the exceptional circumstances in the impact assessment on the draft regulatory standards. If, on the expiry of the six-week or eight- week period respectively, the Authority has not submitted an amended draft regulatory technical standard, or has submitted a draft regulatory technical standard that is not amended in a way consistent with the Commission’s proposed amendments, the Commission may adopt the regulatory technical standard with the amendments it considers relevant, or reject it. Before adopting the regulatory technical standards the Commission shall conduct open public consultations on the effects of the amendments proposed and analyse the costs and benefits, unless the Commission has done so before or in exceptional circumstances where such consultations and analyses are disproportionate in relation to the scope and impact of the amendments concerned or in relation to the particular urgency of the matter. The Commission may not change the content of a draft regulatory technical standard prepared by the Authority without prior coordination with the Authority, as set out in this Article." (This amendment also applies throughout Articles 2 and 3.) Or. en 20160112&from=EN)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 6 b (new)

Regulation (EU) No 1093/2010
Article 15 – paragraph 1 – subparagraph 1

(6b) In Article 15, the first subparagraph of paragraph 1 is amended as follows: "The Authority may develop implementing technical standards, by means of implementing acts pursuant to Article 291 TFEU, in the areas specifically set out in the legislative acts referred to in Article 1(2). Implementing technical standards shall be technical, shall not imply strategic decisions or policy choices and their content shall be to determine the conditions of application of those acts, and they shall take into account the principle of proportionality and subsidiarity. The Authority shall submit its draft implementing technical standards to the Commission for endorsement. ~~(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)~~" (This amendment also applies throughout Articles 2 and 3.) Or. en

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point a

Regulation (EU) No 1093/2010
Article 16 – paragraph 1 – subparagraphs 2a (new) and 2b (new)

Guidelines and recommendations shall take into account the principles of proportionality and subsidiarity. Guidelines and recommendations shall not imply strategic decisions or policy choices and their content shall be delimited by the legislative act they refer to. The Authority shall not issue guidelines and recommendations on issues covered by empowerments for regulatory or implementing technical standards. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point b

Regulation (EU) No 1093/2010
Article 16 – paragraph 2

2. The Authority shall, save in exceptional circumstances, conduct open public consultations regarding the guidelines and recommendations which it issues and shall analyse the related potential costs and benefits of issuing such guidelines and recommendations. Those consultations and analyses shall be proportionate in relation to the scope, nature and impact of the guidelines or recommendations. The Authority shall, save in exceptional circumstances, also request ~~opinions or advice from the Banking Stakeholder Group referred to in Article 37.;~~ advice from the Banking Stakeholder Group referred to in Article 37. The Authority shall provide reasons when it does not conduct open public consultations or does not request advice from the Banking Stakeholder Group. The Authority shall state in the respective guideline or recommendation on a factual basis how it contributes to the establishment of consistent, efficient and effective supervisory practices within the ESFS, how it ensures the common, uniform and consistent application of Union law and how the mandate and its limits as referred to in paragraph 1 and paragraph 1a are respected. It shall also state there how it took into account the principles of proportionality and subsidiarity. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 7 a (new)

Regulation (EU) No 1093/2010
Article 16a (new)

(7a) the following Article 16a is inserted: “Article 16a Questions and answers 1. For the interpretation, practical application or implementation of the provisions of the legislative acts referred to in Article 1(2), or associated delegated and implementing acts, guidelines and recommendations adopted under those legislative acts, any natural or legal person, including competent authorities and Union institutions, may submit a question to the Authority in any official language of the Union. Before submitting a question to the Authority, financial institutions shall assess whether to first address the question to their competent authority. 2. The Authority shall publish on its website non-binding answers to all admissible questions pursuant to paragraph 1, for each legislative act, unless such publication is in conflict with the legitimate interest of the natural or legal person that submitted the question or would involve risks to the stability of the financial system. 3. Answers by the Authority shall be considered suitable for compliance with the requirements of the legislative acts referred to in Article 1(2), and with associated delegated and implementing acts and guidelines and recommendations adopted pursuant to those legislative acts. Competent authorities and financial institutions may establish other practices for compliance with all applicable legal requirements. 4. Answers to questions shall expire 24 months after their publication. They may be revised and updated. 5. The answers to the questions shall take due account of the principles of proportionality and subsidiarity. 6. Where appropriate, the Authority shall take published answers into consideration when developing or updating guidelines and recommendations in accordance with Article 16. (This amendment applies throughout the Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 11 – point a – point iii a (new)

Regulation (EU) No 1093/2010
Article 29 – paragraph 1 – subparagraph 1a (new)

(ia) The following subparagraph is added: “Opinions referred to in point (a) shall take into account the principles of proportionality and subsidiarity.” (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 11 – point b a (new)

Regulation (EU) No 1093/2010
Article 29 – Paragraph 2a (new)

(ba) The following paragraph 2a is added: “2a. The Authority shall, safe in exceptional circumstances, conduct open public consultations regarding the opinions referred to in point (a) of paragraph 1 and tools and instruments referred to in paragraph 2 and analyse the related potential costs and benefits. Such consultations and analyses shall be proportionate in relation to the scope, nature and impact of the opinions or tools and instruments. The Authority shall, safe in exceptional circumstances, also request advice from the Stakeholder Group referred to in Article 37. In the case where the Authority did not conduct open public consultations, the Authority shall state the exceptional circumstances according to this paragraph in the respective opinion or instrument.” (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) No 1093/2010
Article 31a – title

Supervisory Coordination ~~on delegation and outsourcing of activities as well as of risk transfers~~Network (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) No 1093/2010
Article 31a – paragraph 1

1. ~~The Authority shall on an ongoing basis coordinate supervisory actions of competent authorities with a view to promoting supervisory convergence~~A permanent supervisory coordination network in collaboration with the Board of Supervisors shall enhance mutual understanding through information exchange, sharing of good practices, and discussion of key issues, related to third country aspects in the fields of delegation and outsourcing of activities by financial ~~institution~~market participants as well as in relation to risk transfers conducted by them~~, in accordance with paragraphs 2, 3, and 4 and 5.~~ . The activities of the supervisory coordination network and Board of Supervisors are without prejudice to the fact that authorisation, supervision and enforcement decisions are and remain the competence of national competent authorities who bear ultimate responsibility for them. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) No 1093/2010
Article 31a – paragraph 2 – subparagraph 1

The competent authorities shall notify the Authority where they intend to carry out an authorisation or registration related to a financial institution which is under supervision of the competent authority concerned in accordance with the acts referred to in Article 1(2) and where the business plan of the financial institution entails the outsourcing or delegation of a material part of its activities or any of the key functions or the risk transfer of a material part of its activities into third countries, to benefit from the EU passport while essentially performing substantial activities or functions outside the Union. The notification to the Authority shall be sufficiently detailed to allow for a proper assessment. by the Authority.supervisory coordination network will be composed of senior technical experts of the competent authorities and chaired by senior staff of the Authority. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Where the Authority considers it necessary to issue an opinion to a competent authority regarding the non- compliance of an authorisation or registration notified pursuant to the first subparagraph with Union law or guidedeleted (This amendment also applines, recommendations or opinions adopted by the Authority, the Authority shall inform that competent authority thereof within 20 working days of the receipt of the notification by that competent authority. In that case the competent authority concerned shall await the opinion of the Authority before carrying out the registration or authorisation. throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) No 1093/2010
Article 31a – paragraph 2 – subparagraph 3

At the request of the Authority, the competent authority shall within 15 working days of the receipt of such a request provide information related to its decisions to authorise or register a financial institution which is under its supervision in accordance with the acts referred to indeleted (This amendment also applies throughout Article 2 and Article ~~1(2).~~3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) No 1093/2010
Article 31a – paragraph 2 – subparagraph 4

~~The Authority shall issue the opinion, without prejudice to any time limits set out in Union law, at the latest within 2 months of the receipt of the notification pursuant to the first subparagraph.~~deleted (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) No 1093/2010
Article 31a – paragraph 3 – subparagraph 1

~~A financial institution shall notify the competent authority of the outsourcing or delegation of a material part of its activities or any of its key functions, and the risk transfer of a material part~~The supervisory coordination network shall promote consistent decisions taken by competent authorities, in particular through (i) the exchange of information and experiences, (ii) the identification of common priorities, (iii) the analysis and discussion of individual decisions taken by competent authorities, (iv) the identification of areas of divergence in the application of iacts ~~activities, to another entity or its own branch established in a third country~~referred to in Article 1(2), and (v) the preparation of best practices and opinions. (Th~~e competent authority concerned shall inform the Authority of such notifications on a semi-annual basis.~~is amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) No 1093/2010
Article 31a – paragraph 3 – subparagraph 2

Without prejudice to Article 35, at the request of the Authority, the competent authority shall provide information in relation to the outsourcing, delegation or risk transfer arrangements by financial institutions.deleted (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) No 1093/2010
Article 31a – paragraph 3 – subparagraph 3

The Authority shall monitor whether the competent authorities concerned verify that outsourcing, delegation or risk transfer arrangements referred to in the first subparagraph are concluded in accordance with Union law, comply with guidelines, recommendations or opinions from the Authority and do not prevent effective supervision by the competent authorities and enforcement in a third country. deleted (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) No 1093/2010
Article 31a – paragraph 4

4. ~~The Authority may issue recommendations to the competent authority concerned, including recommendations to~~On the basis of the analysis and discussion of issues, the exchange of views and experiences and the collected data of the supervisory coordination network, the Authority may issue opinions, conduct peer reviews a ~~decision or to withdraw an authorisation. Where the competent authorit~~nd initiate investigations of possible breaches of Union law on the supervisory concverned does not follow the recommendations of the Authority within 15 working days, the competent authority shall state the reasons and the Authority shall make its recommendation public together with those reasons.;gence aspects linked to the delegation and outsourcing of activities by financial market participants as well as in relation to risk transfers conducted by them. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) No 1093/2010
Article 31a – paragraphs 4a (new) and 4b (new)

4a. The relevant competent authority, as early as practicable after having identified an issue that may be relevant in accordance with paragraphs 3 and 4, will present anonymously for discussion by the supervisory coordination network a short description of the issue and the proposed approach or decision. 4b. The Board of Supervisors shall be updated on the activities of the supervisory coordination network every six months. However, a majority of the members of the supervisory coordination network can suggest bringing a specific issue to the attention of the Board of Supervisors for discussion. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 24 – point a a (new)

Regulation (EU) No 1093/2010
Article 40 – paragraph 4a

(a a) paragraph 4a is replaced by the following: "4a. In discussions not relating to individual financial institutions, as provided in Article 44(4), the representative nominated by the Supervisory Board of the European Central Bank may be accompanied by a representative of the European Central Bank with expertise on ~~central banking tasks.~~ financial stability, who shall refrain from presenting or taking positions induced by the conduct of monetary policies." Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 24 – point b

Regulation (EU) No 1093/2010
Article 40 – paragraph 7 – subparagraph 2

~~(b) in paragraph 7, the second subparagraph is deleted;~~deleted (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 25

Regulation (EU) No 1093/2010
Article 41

"1. The Board of Supervisors may establish internal committees or panels for specific tasks attributed to it. The Board of Supervisors may provide for the delegation of certain clearly defined tasks and decisions to ~~internal committees, to the Executive Board or to the Chairperson.;~~ internal committees or panels, to the Management Board or to the Chairperson. 1a. For the purposes of Article 17, the Board of Supervisors shall convoke an independent panel, consisting of the Chairperson of the Board of Supervisors and six other members, who are not representatives of the competent authority alleged to have breached Union law and who have neither any interest in the matter nor direct links to the competent authority concerned. Each member of the panel shall have one vote. Decisions of the panel shall be taken where at least four members vote in favour. 2. For the purposes of Article 19, the Board of Supervisors shall convoke an independent panel consisting of the Chairperson of the Board of Supervisors, and of six other members who are not representatives of the competent authorities party to the disagreement and who have neither any interest in the conflict nor direct links to the competent authorities concerned. Each member of the panel shall have one vote. Decisions of the panel shall be taken where at least four members vote in favour. 3. The panels referred to in this Article shall propose decisions under Article 17 or Article 19 for final adoption by the Board of Supervisors. 4. The Board of Supervisors shall adopt rules of procedure for the panels referred to in this Article. 4a. Unless otherwise provided for in the acts referred to in Article 1 (2), the Board of Supervisors shall delegate the competence to act and to take decisions on all matters where acts referred to in Article 1(2) have conferred functions of authorisation or supervision and corresponding powers upon the Authority to the Supervisory Committee.

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 26

Regulation (EU) No 1093/2010
Article 42 – paragraph 1

When carrying out the tasks conferred upon them by this Regulation, the ~~voting~~Chairperson and the members of the Board of Supervisors shall act independently and objectively in the sole interest of the Union as a whole and shall neither seek nor take instructions from Union institutions or bodies, from any government ~~of a Member State~~ or from any other public or private body.; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 27 – point a

Regulation (EU) No 1093/2010
Article 43 – Paragraph 1

1. The Board of Supervisors shall give guidance to the work of the Authority. Save as otherwise provided in this Regulation the Board of Supervisors shall adopt the opinions, recommendations, guidelines and decisions of the Authority, and issue the advice referred to in Chapter II, based on a proposal from the Executive Board.; and shall be in charge of taking the decisions referred to in Chapter II. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 27 – point b

Regulation (EU) No 1093/2010
Article 43 – paragraphs 2 and 3

(b) paragraph~~s 2 and 3 are deleted;~~ 3 is deleted; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 27 – point b a (new)

Regulation (EU) No 1093/2010
Article 43 – paragraph 2a (new)

(b a) the following paragraph 2a is inserted: “2a. Notwithstanding a delegation according to Article 41(5), the Board of supervisors remains competent on all matters where acts referred to in Article 1(2) have conferred functions of authorisation or supervision and corresponding powers upon the Authority, including the competence to act and to take decisions on these matters.” (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 27 – point c

Regulation (EU) No 1093/2010
Article 43 – paragraph 4 – subparagraph 1

The Board of Supervisors shall adopt, before 30 September of each year, on the basis of a proposal by the ~~Executive~~Management Board, the work programme of the Authority for the coming year, and shall transmit it for information to the European Parliament, the Council and the Commission.; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 27 – point d

Regulation (EU) No 1093/2010
Article 43 – paragraph 5

5. The Board of Supervisors shall adopt, on the basis of a proposal by the ~~Executive~~Management Board, the annual report on the activities of the Authority, including on the performance of the Chairperson’s duties, on the basis of the draft report referred to in Article 53(7) and shall transmit that report to the European Parliament, the Council, the Commission, the Court of Auditors and the European Economic and Social Committee by 15 June each year. The report shall be made public.; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 27 – point e

Regulation (EU) No 1093/2010
Article 43 – paragraph 8

(e) pParagraph 8 is ~~deleted;~~replaced by the following: The Board of Supervisors shall exercise disciplinary authority over the Executive Director and may remove the Executive Director from office in accordance with Article 51(5) respectively. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 28 – point a

Regulation (EU) No 1093/2010
Article 44 – paragraph 1 – subparagraph 2

With regard to the a~~cts specified in Articles 10 to 16~~doption of acts, drafts and instruments specified in Articles 10 to 16, Article 29 (1) point a, Article 29 (2) and Article 34 (1) and measures and decisions adopted under the third subparagraph of Article 9(5) and Chapter VI and by way of derogation from the first subparagraph of this paragraph, the Board of Supervisors shall take decisions on the basis of a qualified majority of its members, as defined in Article 16(4) of the Treaty on European Union~~, which shall include at least a simple majority~~. With regard to decisions ofn the ~~members, present at the vote, from competent authorities of Member States that are participating Member States as defined in~~development of acts and instruments under Article 16, Article 29 (1) point ~~1 of~~a, Article 2 ~~of Regulation (EU) No 1024/2013 (participating Member States) and a simple~~9 (2) and Article 34 (1), decisions shall be taken on the basis of a qualified majority of ~~the~~its members, present at the vote, from competent authorities of Member States that are not participating Member States as defined in point 1 of Article 2 of Regulation (EU) No 1024/2013 (non-participating Member States).as defined in Article 16(4) of the Treaty on the European Union. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 28 – point a

Regulation (EU) No 1093/2010
Article 44 – paragraph 1 – subparagraphs 2a

~~The full time members of the Executive Board and the Chairperson shall not vote on these decisions.;~~deleted (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 28 – point b

Regulation (EU) No 1093/2010
Article 44 – paragraph 1 – subparagraphs 3, 4, 5 and 6

(b) in paragraph 1, the third, fourth, ~~fifth~~ and sixth subparagraphs are deleted;

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 28 – point c

The first subparagraph shall not apply to the Chairperson, ~~the members that are also members of~~ the Executive ~~Board~~Director and the European Central Bank representative nominated by its Supervisory Board.";

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 29

~~(29) in Chapter III, the title of Section 2 is replaced by the following:~~deleted Section 2 Executive Board (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 30

Regulation (EU) No 1093/2010
Article 45

(30) Article 45 is replaced by the following: ‘Article 45 Composition 1. composed of the Chairperson and three full time members. The Chairperson shall assign clearly defined policy and managerial tasks to each of the full time members. One of the full time members shall be assigned responsibilities for budgetary matters and for matters relating to the work programme of the Authority ("Member in charge "). One of the full time members shall act as a Vice Chairperson and carry out the tasks of the Chairperson in his or her absence or reasonable impediment, in accordance with this Regulation. 2. The full time members shall be selected on the basis of merit, skills, knowledgedeleted The Executive Board shall be Where a full time member of the The term of of financial institutions and markets, and experience relevant to financial supervision and regulation. The full time members shall have extensive management experience. The selection shall be based on an open call for candidates, to be published in the Official Journal of the European Union, following which the Commission shall draw up a shortlist of qualified candidates. The Commission shall submit the shortlist to the European Parliament for approval. Following the approval of that shortlist, the Council shall adopt a decision to appoint the full time members of the Executive Board including the Member in charge. The Executive Board shall be balanced and proportionate and shall reflect the Union as a whole. 3. Executive Board no longer fulfils the conditions set out in Article 46 or has been found guilty of serious misconduct, the Council may, on a proposal from the Commission which has been approved by the European Parliament, adopt a decision to remove him or her from office. 4. members shall be 5 years and shall be renewable once. In the course of the 9 months preceding the end of the 5-year term of office of the full time member, the Board of Supervisors shall evaluate: (a) term of office and the way in which they were achieved; (b) requirements in the coming years. Taking into account the evaluation, the Commission shall submit the list of the full time members to be renewed to the Council. Based on this list and taking into account the evaluation, the Council may extend the term of office of the full time members.’;ce of the full time the results achieved in the first the Authority’s duties and (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 31

Regulation (EU) No 1093/2010
Article 45a (new)

(31) the following Article 45a is inserted: 1. shall be adopted by simple majority of its members. Each member shall have one vote. In the event of a tie, the Chairperson shall have a casting vote. 2. Commission shall participate in meetings of the Executive Board without the right to vote save in respect of matters referred to in Article 63. 3. The Executive Board shall adopt and make public its rules of procedure. 4. shall be convened by the Chairperson at his own initideleted ‘Article 45a Decision-making Decisions by the Executive Board The representative o~~r at~~f the request of one of its members, and shall be chaired by the Chairperson. The Executive Board shall meet prior to every meeting of the Board of Supervisors and as often as the Executive Board deems necessary. It shall meet at least five times a year. 5. Board may, subject to the rules of procedure, be assisted by advisers or experts. The non-voting participants shall not attend any discussions within the Executive Board relating to individual financial institutions.’;Meetings of the Executive Board The members of the Executive (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 32

Regulation (EU) No 1093/2010
Article 45b (new)

~~(32) the following Article 45b is inserted: The Executive Board may establish internal committees for specific tasks attributed to it.’;~~ deleted ‘Article 45b Internal committees (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 33

Regulation (EU) No 1093/2010
Article 46 – paragraph 1

The members of the ~~Executive~~Management Board shall act independently and objectively in the sole interest of the Union as a whole and shall neither seek nor take instructions from the Union institutions or bodies, from any government ~~of a Member State~~ or from any other public or private body. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 33

Regulation (EU) No 1093/2010
Article 46 – paragraph 2

Neither Member States, the Union institutions or bodies, nor any other public or private body shall seek to influence the members of the ~~Executive~~Management Board in the performance of their tasks.; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 34

Regulation (EU) No 1093/2010
Article 47

~~(34) Article 47 is replaced by the following: [...]~~deleted (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 34 a (new)

Regulation (EU) No 1093/2010
Chapter 3 – Section 2a (new)

(34 a) In Chapter 3, the following Section 2a is inserted: “Section 2a Supervisory Committee Article 47a Composition 1. The Authority shall establish a permanent internal committee (Supervisory Committee) pursuant to Article 41(2) for the purpose of fulfilling the functions of authorisation or supervision and corresponding powers conferred upon the Authority in the acts referred to in Article 1(2). 2. The Supervisory Committee shall be composed of: (a) the Chair of the Supervisory Committee, appointed in accordance with Article 47c (2), who shall chair the meetings and be responsible for preparing the work of the Supervisory Committee; (b) five senior members of the competent authorities referred to in Article 40(1)(b) of five Member States appointed in accordance with Article 47c (6). Article 47b Tasks 1. The Supervisory Committee shall examine and prepare decisions for adoption by the Board of Supervisors according to paragraph 2, where acts referred to in Article 1(2) have conferred functions of authorisation or supervision and corresponding powers upon the Authority, unless otherwise provided for in the acts referred to in Article 1 (2). 2. A draft decision is adopted in accordance with Article 44 (1): (a) with regard to a decision to (i) grant an authorisation or registration of a financial institution or; (ii) withdraw an authorisation or registration of a financial institution if adopted by a simple majority of the members of the Board of Supervisors; (b) with regard to all other decisions relating to authorisation or supervision and corresponding powers, if the Board of Supervisors does not reject the draft decision within ten workings days as of its transmission on the basis of a simple majority of its members. In emergency situations the aforementioned period shall be no less than 24 hours. Where the Board of Supervisors rejects a draft decision, it shall state the reasons for doing so in writing. Within the boundaries of delegation the Supervisory Committee shall be competent to act and take decisions on all preliminary, administrative and procedural matters. The Supervisory Committee shall keep the Board of Supervisors informed of the acts and decisions it takes. Article 47c Appointment 1. The Chair of the Supervisory Committee shall be a full-time, independent professional. 2. The Chair of the Supervisory Committee shall be appointed by the Board of Supervisors, after confirmation by the European Parliament, on the basis of merit, skills, knowledge and experience of supervision and regulation with regard to the tasks of the Supervisory Committee and managerial experience, following an open selection procedure, which shall respect the principles of gender balance, experience and qualification. 3. The term of office of the Chair of the Supervisory Committee shall be five years and may be extended once. 4. In the course of the 9 months preceding the end of the Chair`s term of office, the Board of Supervisors shall evaluate in particular: (a) the results achieved in the first term of office and the way they were achieved; (b) the Authority’s duties and requirements in the coming years. The Board of Supervisors, taking into account the evaluation referred to in the first subparagraph, may extend the term of office of the Chair of the Supervisory Committee once. 5. The Chair of the Supervisory Committee may be removed from office only upon a decision of the Board of Supervisors. Article 47d Decision-making Decisions of the Supervisory Committee shall be adopted on the basis of a majority of the members present. Each member shall have one vote. In case of a draw, the Chair of the Supervisory Committee shall have the casting vote. The Executive Director shall have the right to participate in meetings of the Supervisory Committee without the right to vote. Article 47e Independence When carrying out the tasks conferred upon it by this Regulation, the members of the Supervisory Committee shall act independently and objectively in the sole interest of the Union as a whole and shall neither seek nor take instructions from the Union institutions or bodies, from any government of a Member State or from any other public or private body. Neither Member States, the Union institutions or bodies, nor any other public or private body shall seek to influence the members of the Supervisory Committee in the performance of their tasks. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 35 – point a

Regulation (EU) No 1093/2010
Article 48 – paragraph 1 – subparagraph 2

The Chairperson shall be responsible for preparing the work of the Board of Supervisors and shall chair the meetings of the Board of Supervisors and the ~~Executive Board.;~~Management Board.; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 37

Regulation (EU) No 1093/2010
Articles 51, 52, 52a and 53

~~(37) Articles 51, 52, 52a and 53 are deleted;~~deleted (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 39

2. ~~One member of t~~The Executive ~~Board~~Director, the representative of the Commission and the ESRB shall be invited to the meetings of the Joint Committee, as well as of any Sub- Committees referred to in Article 57, as observers.; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 40 – point a

Regulation (EU) No 1093/2010
Article 58 – paragraph 3

3. Two members of the Board of Appeal and two alternates shall be appointed by the ~~Executive~~Management Board of the Authority from a short-list proposed by the Commission, following a public call for expressions of interest published in the Official Journal of the European Union, and after consultation of the Board of Supervisors.; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 40 – point b

Regulation (EU) No 1093/2010
Article 58 – paragraph 5

5. A member of the Board of Appeal appointed by the ~~Executive~~Management Board of the Authority shall not be removed during his term of office, unless he has been found guilty of serious misconduct and the ~~Executive~~Management Board takes a decision to that effect after consulting the Board of Supervisors.; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 41

Regulation (EU) No 1093/2010
Article 59 – paragraph 1

1. The members of the Board of Appeal shall be independent in making their decisions. They shall not be bound by any instructions. They shall not perform any other duties in relation to the Authority, its ~~Executive~~Management Board or its Board of Supervisors.; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 47

Regulation (EU) No 1093/2010
Article 65 – paragraph 1

The financial rules applicable to the Authority shall be adopted by the ~~Executive~~Management Board after consulting the Commission. Those rules may not depart from Commission Delegated Regulation (EU) No 1271/2013* for the bodies referred to in Article 208 of Regulation (EU, Euratom) No 966/2012 unless the specific operational needs for the functioning of the Authority so require and only with the prior agreement of the Commission. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 49 – point a

Regulation (EU) No 1093/2010
Article 68 – paragraph 1

1. The Staff Regulations, the Conditions of Employment of Other Servants and the rules adopted jointly by the Union institutions for the purpose of applying them shall apply to the staff of the Authority, including ~~the full time members of the~~its Executive ~~Board~~Director and its Chairperson. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 49 – point a

Regulation (EU) No 1093/2010
Article 68 – paragraph 2

2. The ~~Executive~~Management Board, in agreement with the Commission, shall adopt the necessary implementing measures, in accordance with the arrangements provided for in Article 110 of the Staff Regulations.; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 49 – point b

Regulation (EU) No 1093/2010
Article 68 – paragraph 4

4. The ~~Executive~~Management Board shall adopt provisions to allow national experts from Member States to be seconded to the Authority.; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 50 – point c

Regulation (EU) No 1093/2010
Article 70 – paragraph 2a – subparagraph 1

The ~~Executive Board and the~~ Board of Supervisors shall ensure that individuals who provide any service, directly or indirectly, permanently or occasionally, relating to the tasks of the Authority, including officials and other persons authorised by the ~~Executive Board and the~~ Board of Supervisors or appointed by the competent authorities for that purpose, are subject to the requirements of professional secrecy equivalent to those in the previous paragraphs. (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 50 – point c

Regulation (EU) No 1093/2010
Article 70 – paragraph 2a – subparagraph 2

The same requirements for professional secrecy shall also apply to observers who attend the meetings of the ~~Executive Board and the~~ Board of Supervisors who take part in the activities of the Authority.; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 52

Regulation (EU) No 1093/2010
Article 72 – paragraph 2

2. The ~~Executive~~Management Board shall adopt practical measures for applying Regulation (EC) No 1049/2001.; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 53

2. The ~~Executive~~Management Board shall decide on the internal language arrangements for the Authority.;

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 54

Regulation (EU) No 1093/2010
Article 74 – paragraph 1

The necessary arrangements concerning the accommodation to be provided for the Authority in the Member State where its seat is located and the facilities to be made available by that Member State, as well as the specific rules applicable in that Member State to the Executive Director, the members of the Management Board, the staff of the Authority and members of their families shall be laid down in a Headquarters Agreement between the Authority and that Member State concluded after obtaining the approval of the ~~Executive Board.;~~Management Board (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 57

Regulation (EU) No 1093/2010
Article 77a (new)

~~(57) new~~ deleted ‘Article 77a is inserted: The tasks and position of the Executive Director appointed in accordance with Regulation No 1093/2010 as last amended by Directive (EU) 2015/2366 and in office on [PO: please insert date 3 months after the entry into force of this Regulation] shall cease on that date. The tasks and position of the Chairperson appointed in accordance with Regulation No 1093/2010 as last amended by Directive (EU) 2015/2366 and in office on [PO: please insert date 3 months after the entry into force of this Regulation] shall continue until its expiry. The tasks and position of the members of the Management Board appointed in accordance with Regulation No 1093/2010 as last amended by Directive (EU) 2015/2366 and in office on [PO: please insert date 3 months after the entry into force of this Regulation] shall cease on that date.’Transitional provisions (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 2 – paragraph 1 – point 15 a (new)

Regulation (EU) No 1094/2010
Article 31 – paragraph 1

(15a) in Article 31, paragraph 1 is replaced by the following: "The Authority shall fulfil a general coordination role between competent authorities, in particular in situations where adverse developments could potentially jeopardise the orderly functioning and integrity of financial markets or, the stability of the financial system ~~in the Union.~~ or, when relating to situations of significant cross-border business, the protection of policyholders, pension scheme members and beneficiaries in the Union.” Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02010R1094- 20140523&qid=1530524230696&from=EN)

2018/09/19
Committee: ECON

Proposal for a regulation
Article 2 – paragraph 1 – point 15 a (new)

Regulation (EU) No 1094/2010
Article 31 – paragraph 2 – point e

~~taking all appropriate measures in case of developments which may jeopardise the functioning of the financial markets~~(15a) In Article 31, point (e) of paragraph 2 is replaced by the following: "taking all appropriate measures, including setting up and leading collaboration platforms under paragraph 3 in case of developments which may jeopardise the functioning of the financial markets or, in situations of significant cross-border business, potentially affect the protection of policyholders, with a view to facilitating ~~the~~and coordinati~~on of~~ng the actions undertaken by relevant competent authorities; " Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02010R1094- 20140523&qid=1530524230696&from=EN)

2018/09/19
Committee: ECON

Proposal for a regulation
Article 2 – paragraph 1 – point 25 – point -a (new)

Regulation (EU) No 1094/2010
Article 37 – paragraph 3

(-a) paragraph 3 replaced by the following: "3. The Occupational Pensions Stakeholder Group shall be composed of 30 members, 13 Members representing in balanced proportions institutions for occupational retirement provision operating in the Union, 13 members represent~~atives~~ing of employees as well as employers, representatives of beneficiaries, representatives of SMEs and representatives of relevant professional associations. ~~At least five~~Four of its members shall be independent top-ranking academics. ~~Ten of its members shall represent institutions for occupational retirement provision. (https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02010R1094-~~" Or. en 20140523&qid=1530524230696&from=EN)

2018/09/19
Committee: ECON

Proposal for a regulation
Article 2 – paragraph 1 – point 28

Regulation (EU) No 1094/2010
Article 41

1. The Board of Supervisors may establish internal committees or panels for specific tasks attributed to it. The Board of Supervisors may provide for the delegation of certain clearly defined tasks and decisions to internal committees~~, to the Executive Board or to the Chairperson.~~ or panels, to the Management Board or to the Chairperson. 2. For the purposes of Article 19, the Board of Supervisors shall convoke an independent panel to facilitate an impartial settlement of the disagreement, consisting of the Chairperson and two of its members, who are not representatives of the competent authorities which are party to the disagreement and who have neither any interest in the conflict nor direct links to the competent authorities concerned. 3. Subject to Article 19(2), the panel shall propose a decision for final adoption by the Board of Supervisors, in accordance with the procedure set out in the third subparagraph of Article 44(1). 4. The Board of Supervisors shall adopt rules of procedure for the panel referred to in paragraph 2. 4a. Unless otherwise provided for in the acts referred to in Article 1 (2), the Board of Supervisors shall delegate the competence to act and to take decisions on all matters where acts referred to in Article 1(2) have conferred functions of authorisation or supervision and corresponding powers upon the Authority to the Supervisory Committee. "; (This amendment also applies throughout Article 3.)

2018/09/19
Committee: ECON

Proposal for a regulation
Article 2 – paragraph 1 – point 31 – point c

Regulation (EU) No 1095/2010
Article 44 – paragraph 4 – subparagraph 1

4. The rules of procedure shall set out in detail the arrangements governing voting, including, where appropriate, the rules governing quorums. The non-voting members and the observers shall not participate in any discussions within the Board of Supervisors relating to individual financial institutions, unless otherwise provided for in Article 75(3) or in the acts referred to in Article 1(2). (This amendment also applies throughout Article 3.)

2018/09/19
Committee: ECON

Proposal for a regulation
Article 2 – paragraph 1 – point 31 – point c

Regulation (EU) No 1094/2010
Article 44 – paragraph 4 – subparagraph 2

The first subparagraph shall not apply to the Chairperson~~, the members that are also members of the Executive Board and the European C~~ and the Executive Director; (This amendmentr al ~~Bank representative nominated by its Supervisory Board.";~~so applies throughout Article 3.)

2018/09/19
Committee: ECON

Proposal for a regulation
Article 3 – paragraph 1 – point 1 – point a

Regulation (EU) No 1095/2010
Article 1 – paragraph 2

2. The Authority shall act within the powers conferred by this Regulation and within the scope of Directive 97/9/EC, Directive 98/26/EC, Directive 2001/34/EC, Directive 2002/47/EC, Directive 2003/71/EC, Directive 2004/39/EC, Directive 2004/109/EC, Directive 2009/65/EC, Directive 2011/61/EU of the European Parliament and of the Council ~~* Regulation 1606/2002 of the European Parliament and of the Council**, Directive 2013/34/EU of the European Parliament and of the Council***~~, and Regulation (EC) No 1060/2009, and, to the extent that these acts apply to firms providing investment services or to collective investment undertakings marketing their units or shares and the competent authorities that supervise them, within the relevant parts of, Directive 2002/87/EC, Directive (EU) 2015/849, Directive 2002/65/EC, including all directives, regulations, and decisions based on those acts, and of any further legally binding Union act which confers tasks on the Authority. _____________________ **Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards (OJ L 243, 11.9.2002, p. 1). ***Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (OJ L 182, 29.6.2013, p. 19).;

2018/09/19
Committee: ECON

Proposal for a regulation
Article 3 – paragraph 1 – point 16

Regulation (EU) No 1095/2010
Article 31 b

(16) new Article 31b is inserted: Coordination function in relation to orders, transactions and activities with 1. reasonable grounds to suspect that orders, transactions or any other activity with significant cross-border effects threaten the orderly functioning and integrity of financial markets or the financial stability in the Union, it shall recommend that competent authorities of the Member States concerned initiate an investigation and shall provide those competent authorities with the relevant information. 2. reasonable grounds to suspect that orders, transactions or any other activity with significant cross-border effects threaten the orderly functioning and integrity of financial markets or the financial stability in the Union, it shall promptly notify the Authority and provide the relevant information. The Authority may recommend the competent authorities of the Member States where the suspected activity has occurred to take action after transmitting the relevant information to those competent authorities. 3. information between the Authority and the competent authorities, the Authority shall establish and maintain a data storage facility designed for that purpose.;’deleted ‘Article 31b significant cross-border effects Where the Authority has Where a competent authority has To facilitate the exchange of

2018/09/19
Committee: ECON

Proposal for a regulation
Article 3 – paragraph 1 – point 37

Regulation (EU) No 1095/2010
Chapter III – Section III – title

Chairperson~~, Head of CCP Executive Session and Directors of CCP Executive Session;~~

2018/09/19
Committee: ECON

Proposal for a regulation
Article 6 – paragraph 1 – point 4

Regulation (EU) No 600/2014
Article 26

~~(4) Article 26 is replaced by the following: [...]~~deleted

2018/09/19
Committee: ECON