7 Amendments of Marco ZANNI related to 2020/0155(COD)
Amendment 44 #
Proposal for a regulation
Recital 10 a (new)
Recital 10 a (new)
(10 a) Article 23 of Regulation (EU) 2017/1129 regulates the supplements to the prospectus and specifies when the right of withdrawal ends. Financial intermediaries should clearly inform their clients at least once of the possibility of a supplement being published, and where and when it would be published. When subscribing to securities within the initial subscription period, financial intermediaries should inform their clients of their right to withdraw acceptances and facilitate the procedure when investors exercise their right of withdrawal. If a supplement is published, financial intermediaries must contact their clients. The communication is made by electronic means only if requested by the client.
Amendment 52 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 a (new)
Article 1 – paragraph 1 – point 2 a (new)
Regulation (EU) 2017/1129
Article 7 – paragraph 12a – point b
Article 7 – paragraph 12a – point b
(2 a) in Article 7(3), the point b is replaced by the following: "(b) be written in a language and a style that facilitate the understanding of the information, in particular, in language that is clear, non-technical, concise and comprehensible for investors. If written in a different language, the summary note shall be translated in the official language used in the State where the product is distributed and the translation shall faithfully and accurately reflect the content of the original document."
Amendment 53 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 b (new)
Article 1 – paragraph 1 – point 2 b (new)
Regulation (EU) 2017/1129
Article 7 – paragraph 4 – point c
Article 7 – paragraph 4 – point c
(2 b) in Article 7(4), the point c is replaced by the following: "c) all direct and indirect costs and charges borne by the retail investor that are associated with an investment product;"
Amendment 54 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 c (new)
Article 1 – paragraph 1 – point 2 c (new)
Regulation (EU) 2017/1129
Article 7 – paragraph 5 – subparagraph 2– point a
Article 7 – paragraph 5 – subparagraph 2– point a
(2 c) in Article 7(5), point a of the second subparagraph is replaced by the following: "(a) the summary should be a stand-alone document, clearly separated from marketing material, and shall be prepared in a common format;"
Amendment 55 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 d (new)
Article 1 – paragraph 1 – point 2 d (new)
Regulation (EU) 2017/1129
Article 7 – paragraph 5 –subparagraph 2 a (new)
Article 7 – paragraph 5 –subparagraph 2 a (new)
(2 d) in Article 7(5), the following subparagraph is added: "An investor who demonstrates loss resulting from reliance on the summary under the circumstances referred to in point (e) of the second subparagraph, when making an investment into a product for which that summary was produced, may claim damages for that loss in accordance with national law."
Amendment 79 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point a
Article 1 – paragraph 1 – point 7 – point a
Regulation (EU) 2017/1129
Article 23 – paragraph 2 – subparagraph 1
Article 23 – paragraph 2 – subparagraph 1
2. Where the prospectus relates to an offer of securities to the public, investors who have already agreed to purchase or subscribe for the securities before the supplement is published shall have the right, exercisable within three working days after the publication of the supplement, to withdraw their acceptances, provided that the significant new factor, material mistake or material inaccuracy referred to in paragraph 1 arose or was noted before the closing of the offer period or the delivery of the securities, whichever occurs first. The right to withdraw is exercisable within three working days after the publication of the supplement. That period may be extended by the issuer or the offeror. The final date of the right of withdrawal shall be stated in the supplement.;
Amendment 86 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point b
Article 1 – paragraph 1 – point 7 – point b
Regulation (EU) 2017/1129
Article 23 – paragraph 3 – subparagraph 2
Article 23 – paragraph 3 – subparagraph 2
Where the investors referred to in the first subparagraph of this paragraph have the right of withdrawal referred to in paragraph 2, the financial intermediary shall contact those investors within one working day after the publicatithe business day following the one ofn which the supplement has been published.;