Activities of Petr JEŽEK related to 2015/2106(INI)
Plenary speeches (2)
Stocktaking and challenges of the EU Financial Services Regulation (A8-0360/2015 - Burkhard Balz)
Stocktaking and challenges of the EU Financial Services Regulation (debate)
Shadow reports (1)
REPORT on stocktaking and challenges of the EU Financial Services Regulation: impact and the way forward towards a more efficient and effective EU framework for Financial Regulation and a Capital Markets Union PDF (400 KB) DOC (151 KB)
Amendments (20)
Amendment 16 #
Motion for a resolution
Recital B
Recital B
B. whereas profound changes have occurred, and are still on-going, in all financial sectors, including banking, insurance, securities markets, investment funds and financial market infrastructure;
Amendment 51 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Is of the opinion that such a Union should be embedded into a global supervisory and regulatory framework which should be transparent, made accountable and whose requirements must be enforceable;
Amendment 62 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Is concerned about the increased complexity, reflected in the greater amount, detail and number of layers of regulation and supervision with requirements at international, European and national level; stresses the need for international regulatory cooperation but recalls that the global framework for cooperation should be improved to better take into account the interests of all parts of the world and in order to increase accountability;
Amendment 77 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Highlights that a strong CMU should encourage the development of capital markets in all 28 Member States; calls on the Commission to support those Member States with developing capital markets sectors through its Structural Reform Support Service;
Amendment 225 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Acknowledges the traditional reliance of SMEs on bank funding due to their specific nature, different risk profiles and variety across Europe; calls on the Commission, in cooperation with the European Supervisory Authorities (ESAs) and the ECB, to analyse the obstacles to, and benefits of, the diversification of funding channels and how to enable banks to increase SME funding; reminds of the importance of tools like the ‘SME supporting factor’; suggests that the initiatives for improved SME funding should be expanded to mid-cap companies;
Amendment 227 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Acknowledges the traditional reliance of SMEs on bank funding due to their specific nature, different risk profiles and variety across Europe; calls on the Commission, in cooperation with the European Supervisory Authorities (ESAs) and the ECB, to analyse the obstacles to, and benefits of, the diversification of funding channels and how to enable banks to increase SME funding; calls in this respect to consider ‘SME benchmarks’ enabling banks to compare and price credit, instead of the less realistic SME credit registry; suggests that the initiatives for improved SME funding should be expanded to mid-cap companies;
Amendment 232 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Asks the Commission to embed the ‘Funding Escalator’ concept within CMU, addressing the diversity of companies’ financing needs throughout their stages of development;
Amendment 266 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Asks the Commission and supervisors to address the interaction between International Financial Reporting Standards (IFRS) and prudential requirements, and to review the impact of tax accounting on own fundsespecially for SMEs where EU accounting standards are incompatible with IFRS, and to review the impact of tax accounting on own funds; in response to its proposals in the recent Tax Action Plan (European Commission Communication on A Fair and Efficient Corporate Tax System in the European Union: 5 Key Areas for Action), requests the Commission to address the corporate debt equity bias in order to strengthen CMU; further calls on the Commission to review the structural bias against share holdings in the Solvency II framework;
Amendment 288 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Demands a stronger focus on the global competitiveness of the EU financial sectors when making policy, particularly with regards to ensuring EU businesses are not at a competitive disadvantage to firms elsewhere; Stresses the importance of alignment of global regulation through international fora such as the G20 in order to ensure a level playing field and to support the development of capital markets worldwide;
Amendment 296 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Underlines the importance of the international framework with respect to its scope, methodologies and implications on the EU framework; calls on the Commission and ESAs to coordinate more closely with Member States and international bodies promotingin order to avoid unnecessary adverse impacts on competitiveness of the EU finterestsancial sector;
Amendment 302 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Points to the importance of equivalence decisions in addressing obstacles regarding market access and the respective regulatory frameworks, bearing in mindhighlights that equivalence with other jurisdictions has the potential to increase capital inflows and attract further investment into Europe, but cautions that such unilateral decisions must benefit European businesses and consumers;
Amendment 307 #
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25a. Requests that the Commission propose a coherent framework for dealing with third countries; stresses that such a framework should extend beyond equivalence provisions and, where possible, incorporate international standards or agreements;
Amendment 325 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Calls on the Commission to ensure balanced participation in consultations by reflecting the diversity of stakeholders, as well as facilitating and providing better conditions for the participation of small stakeholders to participate;
Amendment 352 #
Motion for a resolution
Paragraph 31 a (new)
Paragraph 31 a (new)
31a. Calls on the Commission to propose a coherent framework to enhance the quality and implementability of legislation, which should ensure greater and structural participation of ESAs during the level 1 phase and sufficient opportunity for ESAs to review as well as respond to unintended consequences that may arise during and following the implementation phase;
Amendment 357 #
Motion for a resolution
Paragraph 32
Paragraph 32
32. Stresses the need to respect the interplay, consistency and coherence between the basic acts and delegated and implementing acts; insists that the Commission and the ESAs, when drafting delegated and implementing acts and guidelines, stick to the empowerments laid down in the basic acts and respect the co- legislators’ agreement; recalls article 290 of the TFEU stating that delegated acts are meant ‘to supplement or amend certain non-essential elements of the legislative act’;
Amendment 366 #
Motion for a resolution
Paragraph 35
Paragraph 35
35. Emphasises that an early legal review by the Commission should not reduce the transparency of the process vis-à-vis Parliament; requests that during the drafting process the ESAs proactively provide Parliament with provisional drafts;
Amendment 399 #
Motion for a resolution
Paragraph 42 a (new)
Paragraph 42 a (new)
42a. Is concerned by threats to cyber security and believes that it should be an integrated dimension of the EU strategy;
Amendment 403 #
Motion for a resolution
Paragraph 43 – introductory part
Paragraph 43 – introductory part
43. Calls on the Commission services to complete, as part of its REFIT agenda, the first assessment by the end of 2016 and to report on the overall impact and, in separate chapters, on the following:
Amendment 421 #
Motion for a resolution
Paragraph 43 – indent 8
Paragraph 43 – indent 8
– the effectiveness and appropriateness of the framework for retail investors, institutional investors and consumers, including the effect on access to finance for SMEs and mid-cap companies,
Amendment 427 #
Motion for a resolution
Paragraph 43 – indent 9 a (new)
Paragraph 43 – indent 9 a (new)
– the transparency of the legislative process, including consistency between the basic acts as adopted by the co- legislators and any associated level 2 measures,