5 Amendments of Markus FERBER related to 2010/0250(COD)
Amendment 241 #
Proposal for a regulation
Article 1 – paragraph 4 – point b a (new)
Article 1 – paragraph 4 – point b a (new)
(b a) contract of insurance in respect of a class of activeness set out in Annex I of Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) if entered into with an insurance undertaking, reinsurance undertaking, third-country insurance undertaking or third-country reinsurance undertaking.
Amendment 310 #
Proposal for a regulation
Article 3 – paragraph 1 a (new)
Article 3 – paragraph 1 a (new)
1 a. The clearing obligation pursuant to Paragraph 1 shall not apply to derivative transactions, the parties to which are members of the same institutional protection scheme and thus meet the conditions of Article 80(8) of Directive 2006/48/EC (Recast).
Amendment 311 #
Proposal for a regulation
Article 3 – paragraph 1 b (new)
Article 3 – paragraph 1 b (new)
1 b. The clearing obligation pursuant to paragraph 1 shall apply only to financial counterparties which exceed a specific clearing threshold. Powers are delegated to the Commission to adopt regulatory technical standards to specify the clearing threshold. Those thresholds shall be determined taking into account the systemic relevance of the sum of net positions and exposures by counterparty per class of derivatives. The regulatory standards shall be adopted pursuant to Articles 10 to 14 of Directive (EU) 1095/2010. ESMA, in consultation with the European Systemic Risk Board (ESRB) and other relevant authorities, shall submit drafts for those regulatory standards to the Commission by [...] at the latest.
Amendment 312 #
Proposal for a regulation
Article 3 – paragraph 1 c (new)
Article 3 – paragraph 1 c (new)
1 c. The clearing obligation pursuant to Paragraph 1 shall not apply to financial counterparties which cannot be connected with a central counterparty either as clearing member or client. Powers are delegated to the Commission to adopt regulatory technical standards specifying the circumstances in which the impossibility of a financial counterparty being connected with a central counterparty can be accepted. The regulatory standards shall be adopted pursuant to Articles 10 to 14 of Directive (EU) 1095/2010. ESMA, in consultation with the European Systemic Risk Board (ESRB) and other relevant authorities, shall submit drafts for those regulatory standards to the Commission by [...] at the latest.
Amendment 320 #
Proposal for a regulation
Article 3 – paragraph 2 a (new)
Article 3 – paragraph 2 a (new)
2 a. The clearing obligation shall apply to all derivative contracts which are entered into on and after the date from which the clearing obligation takes effect in accordance with Article 4.