14 Amendments of Marco VALLI related to 2017/0143(COD)
Amendment 219 #
Proposal for a regulation
Recital 10
Recital 10
(10) Among personal pension products, the development of a PEPP will contribute to increasing choices for retirement saving, especially for mobile workers, and establish an EU market for PEPP providers. It will provide households with better options to meet their retirement goshould not, however, call into question the fundamental responsibility of Member States to guarantee a decent minimum standard of living in old age for their citizens and the urgent need to strengthen the capacity of public pension systems to provide a secure, substantive and effective social protection for alsl.
Amendment 275 #
Proposal for a regulation
Recital 33
Recital 33
(33) By setting the prudent person rule as the underlying principle for capital investment and making it possible for PEPP providers to operate across borders, the redirection of savings into the sector of personal retirement provision is encouraged, thereby contributing to economic and social progress. The prudent person rule should require explicit consideration of environmental, social and governance factors in the investment decision making process.
Amendment 424 #
Proposal for a regulation
Article 5 – paragraph 2 – point d
Article 5 – paragraph 2 – point d
(d) information on arrangements regarding portfolio and risk management and administration with regard to the PEPP, including the consideration of environmental, social and governance factors as those relate to the likely long- term consequences of investment decisions, the impact of investment decisions on financial stability and the wider economy, the impact of investment decisions on communities and the environment and as they relate to the financial and non-financial interests of the PEPP saver;
Amendment 429 #
Proposal for a regulation
Article 5 – paragraph 2 – point e
Article 5 – paragraph 2 – point e
(e) information about the investment strategies, the risk profile and other characteristics of the PEPP; including the consideration of environmental, social and governance factors as those relate to the likely long-term consequences of investment decisions, the impact of investment decisions on financial stability and the wider economy, the impact of investment decisions on communities and the environment and as they relate to the financial and nonfinancial interests of the PEPP saver;
Amendment 450 #
Proposal for a regulation
Article 6 – paragraph 1 – point d a (new)
Article 6 – paragraph 1 – point d a (new)
(da) the proposed PEPP includes an investment strategy which seeks to incorporate environmental, social and governance related risk factors into the proposed providers risk management system, including provision assessment of the nature and extent of these risks and mitigation strategies;
Amendment 566 #
Proposal for a regulation
Article 21 – paragraph 1
Article 21 – paragraph 1
All documents and information under this Chapter shall be provided to PEPP customers free of charge electronically, including on a durable medium or by means of a website, at least annually, provided that the PEPP customer is enabled to store such information in a way accessible for future reference and for a period of time adequate for the purposes of the information and that the tool allows the unchanged reproduction of the information stored. Upon request, PEPP providers and distributors shall provide free of charge those documents and information also on another durable mediumpaper.
Amendment 594 #
Proposal for a regulation
Article 23 – paragraph 3 – point vi
Article 23 – paragraph 3 – point vi
(vi) available information related to the performance of the investment policy in terms of environmental, social and governance factors;
Amendment 715 #
Proposal for a regulation
Article 33 – paragraph 1 – point c
Article 33 – paragraph 1 – point c
(c) the assets shall be predominantly invested only on regulated markets. Investment in assets which are not admitted to trading on a regulated financial market must in any event be kept to prudent levelsare not permitted;
Amendment 719 #
Proposal for a regulation
Article 33 – paragraph 1 – point c a (new)
Article 33 – paragraph 1 – point c a (new)
(ca) assets shall not be invested in financial derivatives, securitization and other structured products, and in subordinated debts instruments;
Amendment 720 #
Proposal for a regulation
Article 33 – paragraph 1 – point d
Article 33 – paragraph 1 – point d
(d) investment in derivative instruments shall be possibleallowed only for purpose of hedging, insofar as such instruments contribute to a reduction in investment risks or facilitate efficient portfolio management. Those instruments shall be valued on a prudent basis, taking into account the underlying asset, and included in the valuation of a PEPP provider’s assets. PEPP providers shall also avoid excessive risk exposure to a single counterparty and to other derivative operations;
Amendment 721 #
Proposal for a regulation
Article 33 – paragraph 1 – point f
Article 33 – paragraph 1 – point f
(f) the assets shall not be invested in a high-risk and non-cooperative jurisdiction identified by the Financial Action Task ForceUnion;
Amendment 755 #
Proposal for a regulation
Article 36 – paragraph 1
Article 36 – paragraph 1
1. The PEPP saver shall be able to opt for a different investment option once every five years of accumulation in the PEPP.
Amendment 832 #
Proposal for a regulation
Article 45 – paragraph 2
Article 45 – paragraph 2
2. The PEPP saver may switch PEPP providers no more frequently than once every five years after conclusion of the PEPP contract.
Amendment 875 #
Proposal for a regulation
Article 52 – paragraph 2
Article 52 – paragraph 2
2. The choice of the form of out- payments for the decumulation phase shall be exercised by PEPP savers upon conclusion of a PEPP contract and can be changed once every five years thereafter during the accumulation phase, if applicable.