Activities of Alfred SANT related to 2022/0411(COD)
Reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) 2017/1129, (EU) No 596/2014 and (EU) No 600/2014 to make public capital markets in the Union more attractive for companies and to facilitate access to capital for small and medium-sized enterprises
Amendments (15)
Amendment 120 #
Proposal for a regulation
Recital 23
Recital 23
(23) Due to the growing importance of sustainability considerations in investment decisions, investors are increasingly considering information on environmental, social and governance (ESG) matters when taking informed investment decisions. It is therefore necessary to prevent greenwashing, by establishing ESG-related information to be provided, where relevant, in the prospectus for equity or non-equity securities offered to the public or admitted to trading on a regulated market. That requirement should, however, not overlap with the requirement laid down in other Union law to provide that information. Companies that offer equity securities to the public or seek the admission to trading of equity securities on a regulated market should therefore incorporate by reference in the prospectus, for the periods covered by the historical financial information, the management and consolidated management reports, which include the sustainability reporting, as required by Directive 2013/34/EU of the European Parliament and of the Council54 . Moreover, the Commission should be empowered to set out a schedule specifying the ESG-related information to be included in prospectuses for non-equity securities that are advertised as taking into account ESG factors or pursuing ESG objectives. For bonds advertised as taking into account ESG factors or pursuing ESG objectives, the Commission should ensure consistency between the format of the sustainability disclosures under Directive 2013/34/EU and those under the opt-in templates drafted pursuant to Article 13g of Regulation (EU) .../... of the European Parliament and the Council54a [the European Green Bonds Regulation]. __________________ 54 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). 54a Regulation (EU) .../... of the European Parliament and the Council on European green bonds (2021/0191(COD))
Amendment 127 #
Proposal for a regulation
Recital 40 a (new)
Recital 40 a (new)
(40 a) In order to clarify the duration of processes for book-building during an IPO and various other processes relative to the management of share issues and transfers, it is appropriate to express all such periods in terms of business days (which includes Saturdays), instead of working days (which excludes Saturdays).
Amendment 151 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b – point i
Article 1 – paragraph 1 – point 1 – point b – point i
Regulation (EU) 2017/1129
Article 1 – paragraph 4 – point da
Article 1 – paragraph 4 – point da
(da) an offer of securities to be admitted to trading on a regulated market or an SME growth market and that are fungible with securities already admitted to trading on the same market, provided that they represent, over a period of 12 months, less than 430 % of the number of securities already admitted to trading on the same market;: (i) the issuer is not an issuer with a complex financial history as referred to in Article 18 of Commission Delegated Regulation (EU) 2019/980; (ii) the issuer has not made a significant financial commitment; (iii) the issuer is not under an insolvency or restructuring procedure, as defined in Directive (EU) 2019/1023 on restructuring and insolvency; (iv) at the time of the offer, the issuer is not delaying the disclosure of inside information pursuant to Article 17(4) of Regulation (EU) No 596/2014, or is not using the exemption set out in Article 17(1), first subparagraph, in relation to intermediate steps in a protracted process.’
Amendment 159 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point c – point i – point 1
Article 1 – paragraph 1 – point 1 – point c – point i – point 1
Regulation (EU) 2017/1129
Article 1 – paragraph 5 – subparagraph 1 – point a
Article 1 – paragraph 5 – subparagraph 1 – point a
(a) securities fungible with securities already admitted to trading on the same regulated market, provided that they represent, over a period of 12 months, less than 430 % of the number of securities already admitted to trading on the same regulated market;
Amendment 162 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point c – point i – point 1
Article 1 – paragraph 1 – point 1 – point c – point i – point 1
Regulation (EU) 2017/1129
Article 1 – paragraph 5 – subparagraph 1 – point b
Article 1 – paragraph 5 – subparagraph 1 – point b
(b) shares resulting from the conversion or exchange of other securities or from the exercise of the rights conferred by other securities, where the resulting shares are of the same class as the shares already admitted to trading on the same regulated market, provided that the resulting shares represent, over a period of 12 months, less than 430 % of the number of shares of the same class already admitted to trading on the same regulated market, subject to the third subparagraph;;
Amendment 165 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b – point iv
Article 1 – paragraph 1 – point 1 – point b – point iv
Regulation (EU) 2017/1129
Article 1 – paragraph 4 – subparagraph 3
Article 1 – paragraph 4 – subparagraph 3
Amendment 168 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point b a (new)
Article 1 – paragraph 1 – point 2 – point b a (new)
Regulation (EU) 2017/1129
Article 2 – paragraph 1 – point z b (new)
Article 2 – paragraph 1 – point z b (new)
Amendment 184 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point c – point ii a (new)
Article 1 – paragraph 1 – point 7 – point c – point ii a (new)
(ii a) in the second subparagraph, the following points are added: ' (fa) where the issuer has not published a plan to ensure that its business model and strategy are compatible with the transition to a sustainable economy pursuant to Article 19a of Directive 2013/34/EU, that company issuing the product is not compatible with the limiting of global warming to 1.5C in line with the Paris Agreement; (fb) where the issuer has exposures to fossil fuels that, the product is exposed to coal, oil or gas-related activities that are at a heightened risk of becoming stranded assets; '
Amendment 190 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point e – point i a (new)
Article 1 – paragraph 1 – point 7 – point e – point i a (new)
Regulation (EU) 2017/1129
Article 7 – paragraph 7 – point a – points vi a and vi b (new)
Article 7 – paragraph 7 – point a – points vi a and vi b (new)
(i a) in point a, the following points are added: ‘(vi a) the proportion of EU taxonomy- aligned activities financed by the financial instruments to the EU Taxonomy; (vi b) the proportion of the investment that is used to finance exposures to fossil fuels;’
Amendment 196 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point h
Article 1 – paragraph 1 – point 7 – point h
Regulation (EU) 2017/1129
Article 7 – paragraph 12b – subparagraph 3 – point c – point iv a (new)
Article 7 – paragraph 12b – subparagraph 3 – point c – point iv a (new)
(iv a) key information on any issuer requirements to provide sustainability reporting and any information related to the securities being advertised as taking into account ESG factors or pursuing ESG objectives in accordance with Article 13 of this Regulation;
Amendment 205 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10 – point a – point ii a (new)
Article 1 – paragraph 1 – point 10 – point a – point ii a (new)
Regulation (EU) 2017/1129
Article 13 – paragraph 1 – subparagraph 4 a (new)
Article 13 – paragraph 1 – subparagraph 4 a (new)
(ii a) the following subparagraph is added: ' For the purposes of point (g) of the second subparagraph, the Commission shall coordinate any ESG disclosure requirements with the provisions included in Regulation (EU) .../... of the European Parliament and of the Council on European Green Bonds (2021/0191 (COD)). '
Amendment 279 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point e
Article 2 – paragraph 1 – point 6 – point e
Regulation (EU) No 596/2014
Article 18 – paragraph 9
Article 18 – paragraph 9
Amendment 331 #
Proposal for a regulation
Annex I
Annex I
Regulation (EU) 2017/1129
Annex IV – Title VII a
Annex IV – Title VII a
VII a. Profit forecasts and estimates Provide information on any profit forecast or any profit estimate previously published by the issuer and that is still outstanding, indicating whether or not it is still valid and, if not, why. The issuer may also choose to include a new profit forecast or a new profit estimate accompanied by the principal assumptions attached to it.
Amendment 336 #
Proposal for a regulation
Annex II
Annex II
Regulation (EU) 2017/1129
Annex VII – Title V – point 3 a (new)
Annex VII – Title V – point 3 a (new)
3 a. Profit forecasts and estimates Provide information on any profit forecast or any profit estimate previously published by the issuer and that is still outstanding, indicating whether or not it is still valid and, if not, why. The issuer may also choose to include a new profit forecast or a new profit estimate accompanied by the principal assumptions attached to it.
Amendment 338 #
Proposal for a regulation
Annex II
Annex II
Regulation (EU) 2017/1129
Annex IX
Annex IX