11 Amendments of Kent JOHANSSON related to 2011/0298(COD)
Amendment 17 #
Proposal for a directive
Article 2 – paragraph 1 – point d – subparagraph 1
Article 2 – paragraph 1 – point d – subparagraph 1
Amendment 19 #
Proposal for a directive
Article 2 – paragraph 1 – point i – subparagraph 1
Article 2 – paragraph 1 – point i – subparagraph 1
provided that in all cases this is an ancillary activity to their main business, when considered on a group basis, or as regards jointly managed undertakings, an ancillary activity when considered on the basis of their owners and the subsidiaries of their owners, and that main business is not the provision of investment services within the meaning of this Directive or banking services under Directive 2006/48/EC ;
Amendment 24 #
Proposal for a directive
Article 2 – paragraph 3 – subparagraph 2 – indent 2
Article 2 – paragraph 3 – subparagraph 2 – indent 2
– the proportion of the capital employed for carrying out the activity. in relation to the capital on a group basis;
Amendment 25 #
Proposal for a directive
Article 2 – paragraph 3 – subparagraph 2 – indent 2 a (new)
Article 2 – paragraph 3 – subparagraph 2 – indent 2 a (new)
- the activity relates to the management of commodity risks or other risk arising from the commercial business of the group.
Amendment 31 #
Proposal for a directive
Title IV
Title IV
POSITION LIMITSMANAGEMENT AND REPORTING
Amendment 33 #
Proposal for a directive
Article 59 – paragraph 1 – subparagraph 1 – introductory part
Article 59 – paragraph 1 – subparagraph 1 – introductory part
1. Member States shall ensure that regulated markets, operators of MTFs and OTFs which admit to trading or trade commodity derivatives apply limits on the number of contractsopen positions in a commodity derivative which any given market members or participants can enter into over a specified period of timehold, or alternative arrangements with equivalent effect such as position management with automatic review thresholds, to be imposed in order to:
Amendment 40 #
Proposal for a directive
Article 59 – paragraph 1 – subparagraph 2
Article 59 – paragraph 1 – subparagraph 2
The limits or arrangements shall be transparent and non-discriminatory, specifying the persons to whom they apply and any exemptions, and taking account of the nature and composition of market participants and of the use they make of the contracts admitted to trading. They shall specify clear quantitative thresholds such as the maximum number of contracts persons can enter, taking account of and the characteristics of the underlying commodity market, including patterns of production, consumption and transportation to market.
Amendment 43 #
Proposal for a directive
Article 59 – paragraph 1 a (new)
Article 59 – paragraph 1 a (new)
1a. Position entered to objectively reduce risk directly related to the commercial activities related to the commodity shall be excluded from the position limits referred to in Article 59(1).
Amendment 45 #
Proposal for a directive
Article 59 – paragraph 3
Article 59 – paragraph 3
3. The Commission shall be empowered to adopt delegated acts in accordance with Article 94 to determine the limits or alternative arrangements on the number of contracts which any person can enter into over a specified period of timeopen positions in a commodity derivative which any person can hold and the necessary equivalent effects of the alternative arrangements established in accordance with paragraph 1, as well as the conditions for exemptions. The limits or alternative arrangements shall take account of the conditions referred to in paragraph 1 and the limits or alternative arrangements that have been set by regulated markets, MTFs and OTFs. The limits or alternative arrangements determined in the delegated acts shall also take precedence over any measures imposed by competent authorities pursuant to Article 72(1) paragraph (g) of this Directive.
Amendment 52 #
Proposal for a directive
Annex I – section C - point 6
Annex I – section C - point 6
(6) Options, futures, swaps, and any other derivative contract relating to commodities that canare not intended to be physically settled provided that they are traded on a regulated market , OTF, or an MTF;
Amendment 53 #
Proposal for a directive
Annex I – section C - point 7
Annex I – section C - point 7
(7) Options, futures, swaps, forwards and any other derivative contracts relating to commodities, that can beare not intended to physically settled not otherwise mentioned in C.6 and not being for commercial purposes, which have the characteristics of other derivative financial instruments, having regards to whether, inter alia, they are cleared and settled through recognised clearing houses or are subject to regular margin calls;