4 Amendments of Markus FERBER related to 2014/0807(CNS)
Amendment 10 #
Draft regulation
Recital 6
Recital 6
(6) The ECB should publish decisions imposing administrative pecuniary penalties for breaches of directly applicable Union law and sanctions for breaches of ECB regulations or decisions, both in the supervisory and non-supervisory fields, unless all legal means of appeal against those sanctions have not yet been exhausted and such publication would be disproportionate, considering the degree of severity of the administrative pecuniary penalty or sanction imposed on an undertaking, or jeopardise the stability of financial markets.
Amendment 12 #
Draft regulation
Recital 9
Recital 9
(9) Article 25 of Regulation (EU) No 1024/2013 lays down the principle of separation, whereby the ECB carries out the tasks conferred on it by Regulation (EU) No 1024/2013 without prejudice to and separately from its tasks relating to monetary policy and any other tasks. In order to avoid conflicts of interest, this principle is to be followed without restriction in all the actions carried out by the ECB. In order to bolster this principle of separation, a Supervisory Board has been established pursuant to Article 26, which, inter alia, is responsible for preparing draft decisions for the Governing Council of the ECB in the supervisory field. In addition, the decisions taken by the Governing Council of the ECB are, under the conditions laid down in Article 24 thereof, subject to review by the Administrative Board of Review. Taking account of the principle of separation and the establishment of the Supervisory Board and the Administrative Board of Review, two distinct procedures should apply: (a) where the ECB contemplates the imposition of administrative penalties in the exercise of its supervisory tasks, decisions to this effect are taken by the Governing Council of the ECB based on a complete draft decision from the Supervisory Board and subject to review by the Administrative Board of Review; and (b) where the ECB contemplates the imposition of sanctions in the exercise of its non-supervisory tasks, decisions to this effect are taken by the Executive Board of the ECB and subject to review by the Governing Council of the ECB.
Amendment 14 #
Draft regulation
Article 1 – point 2
Article 1 – point 2
Regulation (EC) No 2532/98
Article 1 a – paragraph 2
Article 1 a – paragraph 2
2. The rules applying to the imposition by the ECB, in the exercise of its supervisory tasks, of administrative pecuniary penalties for breaches of directly applicable Union law and of sanctions for breaches of ECB regulations and decisions (hereinafter jointly referred to as ‘administrative penalties’) shall derogate from the rules laid down in Articles 2 to 4 to the extent laid down in Articles 4a to 4c. Notwithstanding this provision, the competent national authorities shall remain responsible for imposing administrative penalties. In the case of institutions subject to direct supervision by the ECB, however, they may impose such penalties only in consultation with the ECB.
Amendment 16 #
Draft regulation
Article 1 – point 2
Article 1 – point 2
Regulation (EC) No 2532/98
Article 1 a – paragraph 3
Article 1 a – paragraph 3
3. The ECB may publish any decision imposing on an undertaking administrative pecuniary penalties for breaches of directly applicable Union law and sanctions for breaches of ECB regulations or decisions, both in the supervisory and non- supervisory fields, whetherprovided that all legal means of appeal against such decision hasve been appealed or notexhausted. The ECB shall carry out such publication in accordance with relevant Union law, irrespective of any national law or regulation and, where relevant Union law is composed of Directives, of any national legislation transposing those Directives.