18 Amendments of Fulvio MARTUSCIELLO related to 2015/2106(INI)
Amendment 3 #
Motion for a resolution
Citation 15
Citation 15
Amendment 20 #
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Is concerned by the complexity of the regulation which is often multi-layered with diverging and contradicting outcomes; calls on the Commission to carry out an in-depth assessment of the compliance costs of the financial regulation, in particular for SMEs and start-ups, with a view at reducing these costs where appropriate;
Amendment 21 #
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Stresses that the aim of EU Financial Regulation should be to serve the real economy; believes, for this reason, that regulation should be coherent and proportionate;
Amendment 22 #
Draft opinion
Paragraph 2 b (new)
Paragraph 2 b (new)
2b. Points out that the real economy remains heavily reliant on banks which makes economy vulnerable to a tightening of bank lending; believes that alternative sources of financing should be found, in particular by strengthening the recourse to venture capital;
Amendment 32 #
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Underlines the important role of banks as intermediaries in capital markets; highlights that financial intermediation is key in order to properly assess the risks and the needs of potential investors;
Amendment 36 #
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Recalls that the lack of information on the financial situation of SMEs is one of the major barriers to investment in this type of companies; calls on the Commission for an in-depth reflection on the ways and means to improve investors' access to transparent and comparable data on SMEs; believes that the development of a dedicated database to collect, on a voluntary basis, financial information on SMEs and start-ups could be a useful tool to provide information to investors;
Amendment 48 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Acknowledges the fact that the on- going financial and debt crisis has led to unprecedented negative consequences, in particular on the real economy and taxpayers savings; welcomes, in this context, the financial regulation promoted by the European Commission in the last five years which has strengthened Europe’s financial architecture for future crises;
Amendment 50 #
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Believes that access to finance, in particular for SMEs, is key for economic growth and job creation; points out that profitable banks as well as efficient capital markets are a precondition for access to finance;
Amendment 53 #
Motion for a resolution
Paragraph 2 b (new)
Paragraph 2 b (new)
2b. Points out that the real economy remains heavily reliant on banks which makes the economy vulnerable to a tightening of bank lending; believes that alternative sources of financing should be found, in particular by strengthening the recourse to venture capital;
Amendment 64 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Calls on the Commission to take into account the different economic and cultural structures of SMEs among Member States in its policy initiatives for the implementation of a Capital Markets Union;
Amendment 66 #
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Points out that private equity and venture capital offer interesting alternatives for financing, in particular for start-ups; calls on the Commission to develop additional instruments building on the experience done with the European Venture Capital Funds and the European Social Entrepreneurship Funds;
Amendment 70 #
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Notes that legislation is not always the most appropriate policy response and that non-legislative and market-based approaches should be duly taken into account;
Amendment 88 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Believes that an effective and efficient EU financial services regulation should be coherent, consistent (also on a cross- sectoral basis), proportionate, and free of superfluous complexity in order to avoid legal uncertainty, regulatory arbitrage and high transaction costs; believes that it should enable intermediaries to fulfil their role in funding the real economy and serve savers and investors; considers that it should contribute to the single market and focus on goals better achievable at European level;
Amendment 143 #
Motion for a resolution
Paragraph 10
Paragraph 10
Amendment 231 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Welcomes the Commission report on the ESA and its recognition for short-term and medium-term improvements in their functioning; believes that ESAs’ lack sufficient resources to fulfil their tasks, in particular as regards the implementation of consumer protections obligations; points out that sufficient time should be given to carry out complex consultation procedures concerning often wide- reaching Level 2 measures;
Amendment 298 #
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23a. Believes that a European approach to financial regulation and the Capital markets Union should duly take into account international developments in order to avoid unnecessary divergences and duplications in legislation and keep Europe as an attractive place for international investors; stresses that the regulatory dialogue with the U.S. should be further strengthened; reiterates, in this context, that financial services regulatory matters should be included in the negotiations on TTIP;
Amendment 367 #
Motion for a resolution
Paragraph 35 a (new)
Paragraph 35 a (new)
35a. Calls on the Commission to integrate its proposals for a Capital Markets Union with other policy agendas, such as the development of a digital single market and on-going reforms in the field of company law and corporate governance; believes further that the Commission should take the newest technological developments into account in its initiatives for the implementation of a Capital Markets Unions;
Amendment 397 #
Motion for a resolution
Paragraph 42 a (new)
Paragraph 42 a (new)
42a. Stresses the importance of performing detailed impact assessments and cost-benefit analyses for any future legislation in order to demonstrate the added-value of legislation, in particular as regards economic growth and job creation; underlines that impact assessments and cost-benefit analyses should include thorough evaluations of the impact of Level-2 measures which form a significant part of the EU financial regulatory framework;