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4 Amendments of Notis MARIAS related to 2016/0110(COD)

Amendment 2 #
Notis MARIAS
Proposal for a regulation
Recital 1
(1) On the basis of Regulation (EU) No 258/2014 of the European Parliament and of the Council8, the International Financial Reporting Standards Foundation (the IFRS Foundation), which is the legal successor to the International Accounting Standards Committee Foundation (IASCF), and the Public Interest Oversight Board (PIOB) benefit from Union co-financing in the form of operating grants until 31 December 2020, in order to achieve financial stability through the International Financial Reporting Standards and International Accounting Standards. __________________ 8 Regulation (EU) No 258/2014 of the European Parliament and of the Council of 3 April 2014 establishing a Union Programme to support specific activities in the field of financial reporting and auditing for the period of 2014-20 and repealing Decision No 716/2009/EC (OJ L 105, 8.4.2014, p. 1).
2016/09/09
Committee: ECON
Amendment 4 #
Notis MARIAS
Proposal for a regulation
Recital 3
(3) On 12 November 2013, the Commission published the report of Philippe Maystadt, special advisor to the Commissioner responsible for internal market and services (the ‘special advisor’s report’), in which he outlined potential reforms to EFRAG governance aimed at reinforcing the Union’s contribution to the development of international accounting standards, in a bid to improve the international comparability and transparency of financial reporting on the situation of economic entities.
2016/09/09
Committee: ECON
Amendment 5 #
Notis MARIAS
Proposal for a regulation
Recital 4
(4) The Commission closely monitored the implementation of the reform of EFRAG governance and informed duly the European Parliament and the Council of the progress in its implementation. The Commission found that EFRAG successfully implemented the conclusions of the special advisor’s report, by implementing a new governance structure, which has increased the legitimacy and representativeness of EFRAG. Therefore it is appropriate to continue financing of EFRAG for the period 2017-2020 in order to meet the long-term objectives of the Union programme to support specific activities in the field of financial reporting and auditing.
2016/09/09
Committee: ECON
Amendment 14 #
Notis MARIAS
Proposal for a regulation
Recital 6
(6) Since the objective of this (6) Regulation, namely increasing the budget of a Union programme for the period 2017 to 2020 in order to support the activities of EFRAG, which ought to contribute more to the achieimprovement of the policy objectives of the Union in relation to fInternational Standards of Financial rReporting, cannot be sufficiently achieved by the Member States but can rather, by reason of its scale and effects, be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union. In accordance with the principle of proportionality, as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve that objective.
2016/09/09
Committee: ECON
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