BETA

Activities of Barbara KAPPEL related to 2017/0230(COD)

Shadow reports (1)

REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1093/2010 establishing a European Supervisory Authority (European Banking Authority); Regulation (EU) No 1094/2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority); Regulation (EU) No 1095/2010 establishing a European Supervisory Authority (European Securities and Markets Authority); Regulation (EU) No 345/2013 on European venture capital funds; Regulation (EU) No 346/2013 on European social entrepreneurship funds; Regulation (EU) No 600/2014 on markets in financial instruments; Regulation (EU) 2015/760 on European long-term investment funds; Regulation (EU) 2016/1011 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds; Regulation (EU) 2017/1129 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market; and (EU) Directive 2015/849 on the prevention of the use of the financial system for the purposes of money-laundering or terrorist financing PDF (1 MB) DOC (396 KB)

2016/11/22
Committee: ECON
Dossiers: 2017/0230(COD)
Documents: PDF(1 MB) DOC(396 KB)

Amendments (31)

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Recital 25

(25) It is appropriate that financial institutions and financial market participants contribute to the financing of the activities of the ESAs, because the overall objective of the activities of the ESAs is to contribute to financial stability and, through the avoidance of distortions of competition, the proper operation of the single market. The activities of the ESAs benefit all financial institutions and financial market participants, whether or not they operate across borders. The ESAs contribute to them conducting their business in a stable environment and on a level playing field. Financial institutions and financial market participants that are not directly supervised by the ESA’s should therefore also contribute to the funding of those activities of the ESAs from which they benefit. In addition, the ESAs should however also receive fees paid by the financial institutions and financial market participants that are directly supervised by them. The fees paid by financial institutions that are intended as a contribution to the financing of the activities of the ESAs should be collected by competent authorities and redirected to the ESAs. This shall be done in a transparent manner and in accordance with specially developed methodologies which determine the contribution of each financial institution for this purpose.

2018/09/11
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a – point ii

Regulation (EU) No 1093/2010
Article 8 – paragraph 1 – point ab

(ab) to develop and maintain up to date, taking into account, inter alia, changing business practices and business models of financial institutions, a Union resolution handbook on the resolution of financial institutions in the Union which sets out ~~supervisory~~ best practices and high quality methodologies ~~and processes~~;

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point c – point ii

Regulation (EU) No 1093/2010
Article 8 – paragraph 2 – point h

(h) collect the necessary information concerning financial institutions as provided for in Article 35 ~~and Article 35b~~;

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point b

Regulation (EU) No 1093/2010
Article 16 – paragraph 2

2. The Authority shall, save in exceptional circumstances, conduct open public consultations regarding the guidelines and recommendations which it issues and shall analyse the related potential costs and benefits of issuing such guidelines and recommendations. Those consultations and analyses shall be proportionate in relation to the scope, nature and impact of the guidelines or recommendations. The Authority shall, save in exceptional circumstances, also request the opinions o~~r advice from~~f the Technical Committee of the Banking Stakeholder Group referred to in Article 37(4a).;

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point d

Regulation (EU) No 1093/2010
Article 16 – paragraph 5 – subparagraph 1

Where two thirds of the members of the ~~Banking Stakeholder Group~~Technical Committee of the Banking are of the opinion that the Authority has exceeded its competence by issuing certain guidelines or recommendations, they may send a reasoned opinion to the Commission.

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point d

The Commission shall request an explanation justifying the issuance of the guidelines or recommendations concerned from the Authority. The Commission shall, on receipt of the explanation from the Authority, assess the scope of the guidelines or recommendations in view of the Authority's competence. Where the Commission considers that the Authority has exceeded its competence, and after having given the Authority the opportunity to state its views, the Commission may adopt an implementing decision requiring the Authority to withdraw the guidelines or recommendations concerned .The decision of the Commission shall be made public. The obligation to comply with the guidelines or recommendations shall be suspended until the publishing of the Commission´s decision;

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 7 a (new)

Regulation (EU) No 1093/2010
Article 16a (new)

(7a) the following Article 16a is inserted: “Article 16a 1. The Authority shall, with a view to establishing consistent and effective application of the regulatory framework, and to ensuring the common, uniform and consistent application of Union law, respond to questions submitted through a specific Q&A process about Directive 2013/36/EU, Regulation (EU) No 575/2013, Directive 2014/59/EU, Directive 2014/49/EU, the technical standards developed by the Authority and adopted by the European Commission and the Authority´s guidelines. 2. The Authority shall subject all answers to an expedited public consultation, which shall not take longer than one or in exceptional cases two weeks. 3. The Q&As shall not have a binding force in law, nor shall they be imposed on financial institutions as binding by any supervisor or competent authority. The answers shall also not be subject to the "comply or explain" requirement. 4. All submitted questions and answers shall be published on the Authority´s website no later than one week after the expedited consultation period has passed.

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 8

Regulation (EU) No 1093/2010
Article 17 – paragraph 2 – subparagraph 3

Without prejudice to the powers laid down in Article 35, the Authority may address a duly justified and reasoned request for information directly to other competent authorities or relevant financial institutions, whenever it is deemed necessary for the purpose of investigating an alleged breach or non-application of Union law. Where it is addressed to financial institutions, the reasoned request shall explain why the information is necessary for the purposes of investigating an alleged breach or non- application of Union law.

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point a

Regulation (EU) No 1093/2010
Article 19 – paragraph 1 – subparagraph 1 – point b

(b) on its own initiative where on the basis of objective ~~criteria,~~reasons disagreement can be determined between competent authorities.

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 10 – point b

Regulation (EU) No 1093/2010
Article 22 – paragraph 4 – subparagraph 2

For those purposes, the Authority may use the powers may use the powers conferred on it under this Regulation, including Article 35 ~~and 35b.~~;

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 12

Regulation (EU) No 1093/2010
Article 29a – paragraph 1 – subparagraph 2

The Strategic Supervisory Plan shall identify specific priorities for supervisory activities in order to promote consistent, efficient and effective supervisory practices, taking into account competent authorities’ necessary discretion in addressing national markets specificities, and the common, uniform and consistent application of Union law and to address relevant micro-prudential trends, potential risks and vulnerabilities identified in accordance with Article 32.

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 13 – point d – point ii

Regulation (EU) No 1093/2010
Article 30 – paragraph 2 – point a

(a) the adequacy of resources, the degree of independence, and governance arrangements of the competent authority, with particular regard to the effective and proportionate application of the Union acts referred to in Article 1(2) and the capacity to respond to market developments;;

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) No 1093/2010
Article 31a

~~(15) the following Article 31a is inserted: [...]~~deleted

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 16 – point b

Regulation (EU) No 1093/2010
Article 32 – paragraph 3a

3a. The Authority may require competent authorities to conduct specific reviews. It may request competent authorities to carry out on-site inspections, and may participate in such on-site inspections in accordance with Article 21 and subject to the conditions set out therein, in order to ensure comparability and reliability of methods, practices and results.;

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 18

Regulation (EU) No 1093/2010
Article 34 – paragraph 2

2. With regard to assessments under Article 22 of Directive 2013/36/EC, and which according to that Directive require consultation between competent authorities from two or more Member States, the Authority may, on application of one of the competent authorities concerned, issue and publish an opinion on such an assessment, except in relation to the criteria in Article 23(1)(e) of that Directive. The opinion shall be issued promptly and in any event before the end of the assessment period referred to in that Directive. Articles 35 ~~and 35b~~ shall apply to the areas in respect of which the Authority may issue an opinion.;

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 20

Regulation (EU) No 1093/2010
Articles 35a to 35h

~~(20) the following Articles 35a to 35h are inserted: [...]~~deleted

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 20

Regulation (EU) No 1093/2010
Article 35b – paragraph 1

1. Where information requested under paragraph 1 or paragraph 5 of Article 35 is not available or is not made available within the time limit set by the Authority, it may by simple request or by decision require the following institutions and entities to provide all necessary information to enable the Authority to carry out its duties under this Regulation: (a) (b) a relevant financial institution; (c) within a financial group or conglomerate that are significant to the financial activities of the relevant financial institutions.deleted relevant financial institutions; holding companies or branches of non-regulated operational entities

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 20

Regulation (EU) No 1093/2010
Article 35b – paragraph 5

5. The authority shall send, without delay, a copy of the simple request or of its decision to the competent authority of the Member State where the relevant entity listed in paragraph 1 concerned by the request for information is domiciled or established.deleted

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 20

Regulation (EU) No 1093/2010
Article 35c – paragraph 1

1. Where, in carrying out its duties under this Regulation, the authority finds that there are serious indications of the possible existence of facts liable to constitute an infringement as referred to in Article 35d(1), the Authority shall appoint an independent investigation officer within the Authority to investigate the matter. The appointed officer shall not be involved or have been directly or indirectly involved in the direct or indirect supervision of the institutions or entities listed in Article 35b(1) and shall perform his or her functions independently from the Board of Supervisors.deleted

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 20

Regulation (EU) No 1093/2010
Article 35d – paragraph 1 – title

~~Fines~~deleted

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 20

Regulation (EU) No 1093/2010
Article 35d – paragraph 1

1. The Authority shall adopt a decision to impose a fine where it finds that an institution or entity listed in Article 35b(1) has, intentionally or negligently, failed to provide information in response to a decision requiring information pursuant to Article 35b(3) or has provided incomplete, incorrect or misleading information in response to a simple request for information or a decision pursuant to Article 35b(2).deleted

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 20

Regulation (EU) No 1093/2010
Article 35d – paragraph 2

~~2. The basic amount of the fine referred to in paragraph 1 shall amount to at least EUR 50 000 and shall not exceed EUR 200 000.~~deleted

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 20

Regulation (EU) No 1093/2010
Article 35d – paragraph 5

5. Notwithstanding paragraphs 2 and 3, the total fine shall not exceed 20% of the annual turnover of the entity concerned in the preceding business year unless the entity has directly or indirectly benefitted financially from the infringement. In that case, the total fine shall be at least equal to that financial benefit.deleted

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 22 – point a a (new)

Regulation (EU) No 1093/2010
Article 37 – paragraph 4a (new)

(a a) the following paragraph 4a is inserted: “4a. The Banking Stakeholder Group shall establish a Technical Committee as a subgroup of the Banking Stakeholder Group, dealing with technical issues. The members of this Committee shall submit opinions and advice and shall have the sole decision making powers on technical issues in the Banking Stakeholder Group. Members of the Technical Committee of the Banking Stakeholder Group shall serve for a period of four years, following which a new selection procedure shall take place.”

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 22 – point b

Regulation (EU) No 1093/2010
Article 37 – paragraph 5 – subparagraph 1a

Where members of the Banking Stakeholder Group cannot ~~reach a common opinion or~~agree on advice, ~~the~~each member~~s representing one group of stakeholders~~ shall be permitted to issue a separate ~~opinion or separate~~ advice.

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 23

1. The Authority shall act in accordance with paragraphs 2 to 6 when adopting decisions provided for in this Regulation ~~save for those decisions adopted in accordance with Articles 35b, 35d and 35e~~.

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 34

Regulation (EU) No 1093/2010
Article 47 – paragraph 3 – subparagraph 2

For the purposes of Articles 17, 19, 22, 29a, 30, 31a, 32 ~~and 35b to 35h~~, the Executive Board shall be competent to act and to take decisions. The Executive Board shall keep the Board of Supervisors informed of the decisions it takes.

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 45

Regulation (EU) No 1093/2010
Article 63 – paragraph 5

5. The Executive Board shall, without delay, notify the budgetary authority of its intention to implement any project which may have significant financial implications for the funding of its budget, in particular any project relating to property, such as the rental or purchase of buildings.; The costs of these projects shall be carried equally by the general budget and financial institutions.

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 55

Regulation (EU) No 1093/2010
Article 75a – paragraph 2

2. The power to adopt delegated acts referred to in Article ~~35c and Article~~ 62a shall be conferred for an indeterminate period of time.

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 55

3. The delegation of power referred to in Article ~~35c and Article~~ 62a may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force.

2018/09/14
Committee: ECON

Barbara KAPPEL, Jörg MEUTHEN

Proposal for a regulation
Article 1 – paragraph 1 – point 55

Regulation (EU) No 1093/2010
Article 75a – paragraph 6

6. A delegated act adopted pursuant to Article ~~35c or Article~~ 62a shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of three months of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by three months at the initiative of the European Parliament or the Council.;

2018/09/14
Committee: ECON