23 Amendments of Markus FERBER related to 2023/0205(COD)
Amendment 159 #
Proposal for a regulation
Recital 4
Recital 4
(4) Within financial services, and as a result of the revised Directive (EU) 2015/2366 of the European Parliament and of the Council7 , the sharing of payments account data in the Union based on customer permission has begun to transform the way consumers and businesses use banking services. In order to build upon the measures in that Directive, a regulatory framework should be established for the sharing of customer data, which have been derived from financial services provided in the Union, across the financial sector beyond payment account data. This should also be a building block for fully integrating the financial sector into the Commission’s strategy for data8 which promotes data sharing across sectors. _________________ 7 Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directive 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (OJ L 337, 23.12.2015, p. 35). 8 https://eur-lex.europa.eu/legal- content/EN/TXT/?qid=1593073685620&ur i=CELEX%3A52020DC0066
Amendment 177 #
Proposal for a regulation
Recital 11
Recital 11
(11) Enabling customers to share their data on their current investments can encourage innovation in the provision of retail investment services. Primary data collection to complete a suitability and appropriateness assessment of a retail investor is time-intensive for a customer and constitutes a significant cost factor for advisors and distributors of investment, pension, and insurance-based investment products. The sharing of customer data on holdings of savings and investments in financial instruments including insurance-based investment products and data collected for the purposes of carrying out a suitability and appropriateness assessment can improve investment advice for consumers and has strong innovative potential, including in the development of personalised investment advice and investment management tools that can make retail investment advice more efficient. Such management tools are already being developed in the market and can develop more effectively in the context where a customer can share their investment-related datarefore, the inclusion of this type of data as well as the necessary prerequisites should be carefully assessed.
Amendment 187 #
Proposal for a regulation
Recital 16
Recital 16
(16) Data which forms part of a creditworthiness assessment of a firm in the scope of this Regulation should consist of information which a firm provides to institutions and creditors as part of the loan application process or a request for a credit rating. This includes loan applications of micro, small, medium and large enterprises. It may include data collected by institutions and creditors as set out in Annex II of the European Banking Authority Guidelines on loan origination and monitoring13 . Such data may include financial statements and projections, information on financial liabilities and arrears in payment, evidence of ownership of the collateral, evidence of insurance of the collateral and information on guarantees. Additional data may be relevant if the purpose of the loan application relates to the purchase of commercial real estate or real estate development. _________________ 13 EBA Final Report on Guidelines on loan origination and monitoring.pdf (europa.eu), 29.05.2020.
Amendment 199 #
Proposal for a regulation
Recital 24
Recital 24
(24) This Regulation introduces a new legal obligation on financial institutions acting as data holders to share defined categories of data at request of the customer in the framework of a financial data sharing scheme. The obligation on data holders to share data at the request of the customer should be specified by making available generally recognised standards to also ensure that the data shared is of a sufficiently high quality. The data holder should make customer data available continuously for the purposes and under the conditions for which the customer has granted permission to a data user. Continuous access could consist of multiple requests to make customer data available to fulfil the service agreed with the customer. It could also consist of a one- off access to customer data. While the data holder is responsible for the interface to be available and for the interface to be of adequate quality, the interface may be provided not only by the data holder but also by another financial institution, an external IT provider, an industry association or a group of financial institutions, or by a public body in a member state. For institutions for occupational retirement provisions, the interface can be integrated into pension dashboards that cover a broader range of information, as long as it complies with the requirements of this Regulation.
Amendment 202 #
Proposal for a regulation
Recital 25
Recital 25
(25) In order to enable the contractual and technical interaction necessary for implementing data access between multiple financial institutions, data holders and data users should be required to be part of financial data sharing schemes that can be established either on European or national level. These schemes should develop data and interface standards, joint standardised contractual frameworks governing access to specific datasets, and governance rules related to data sharing. In order to ensure that schemes function effectively, it is necessary to establish general principles for the governance of these schemes, including rules on inclusive governance and participation of data holders, data users and customers (to ensure balanced representation in schemes), transparency requirements, and a well-functioning appeal and review procedure (notably around the decision- making of schemes). Financial data sharing schemes must comply with Union rules in the area of consumer protection and data protection, privacy, and competition. The participants in such schemes are also encouraged to draw up codes of conduct similar to those prepared by controllers and processors under Article 40 of Regulation (EU) 2016/679. While such schemes may build upon existing market initiatives, the requirements set out in this Regulation should be specific to financial data sharing schemes or parts thereof which market participants use to fulfil their obligations under this Regulation after the data of application of these obligations.
Amendment 228 #
Proposal for a regulation
Article 2 – paragraph 1 – introductory part
Article 2 – paragraph 1 – introductory part
1. This Regulation applies to the following categories of basic customer data , which is derived from financial services provided within the Union:
Amendment 234 #
Proposal for a regulation
Article 2 – paragraph 1 – point b
Article 2 – paragraph 1 – point b
(b) savings, investments in financial instruments, insurance-based investment products, crypto-assets, real estate and other related financial assets as well as the economic benefits derived from such assets; including data collected for the purposes of carrying out an assessment of suitability and appropriateness in accordance with Article 25 of Directive 2014/65/EU of the European Parliament and of the Council32 ; _________________ 32 Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (recast) (OJ L 173, 12.6.2014, p. 349).
Amendment 241 #
Proposal for a regulation
Article 2 – paragraph 1 – point c
Article 2 – paragraph 1 – point c
(c) pension rights in occupational pension schemes, in accordance with Directive 2009/138/EC and Directive (EU) 2016/2341 of the European Parliament and of the Council33 , insofar as they are accessible to all interested consumers; _________________ 33 Directive (EU) 2016/2341 of the European Parliament and of the Council of 14 December 2016 on the activities and supervision of institutions for occupational retirement provision (IORPs) (recast) (OJ L 354, 23.12.2016, p. 37).
Amendment 253 #
Proposal for a regulation
Article 2 – paragraph 1 – point f
Article 2 – paragraph 1 – point f
(f) data which forms part of a creditworthiness assessment of a firm which is collected as part of a loan application process or a request for a credit rating.
Amendment 264 #
Proposal for a regulation
Article 2 – paragraph 2 – point k
Article 2 – paragraph 2 – point k
(k) institutions for occupational retirement provision, insofar as they are accessible to all interested consumers;
Amendment 266 #
Proposal for a regulation
Article 2 – paragraph 2 – point l
Article 2 – paragraph 2 – point l
Amendment 310 #
Proposal for a regulation
Article 3 – paragraph 1 – point 3
Article 3 – paragraph 1 – point 3
(3) ‘customer data’ means basic personal and non-personal data that is collected, stored and otherwise processed by a financial institution as part of their normal course of business with customers which covers both data provided by a customer and data generated as a result of customer interaction withto the financial institution;
Amendment 335 #
Proposal for a regulation
Article 3 – paragraph 1 – point 27
Article 3 – paragraph 1 – point 27
Amendment 351 #
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
1. The data holder shall, upon request from a customer submitted by electronic means, make available to a data user that is member of a financial data-sharing scheme the customer data listed in Article 2(1) for the purposes for which the customer has granted permission to the data user. The customer data shall be made available to the data user without undue delay, continuously and in real-time.
Amendment 362 #
Proposal for a regulation
Article 5 – paragraph 3 – point e
Article 5 – paragraph 3 – point e
Amendment 376 #
Proposal for a regulation
Article 6 – paragraph 4 – point b
Article 6 – paragraph 4 – point b
Amendment 396 #
Proposal for a regulation
Article 7 – paragraph 2
Article 7 – paragraph 2
2. In accordance with Article 16 of Regulation (EU) No 1093/2010, the European Banking Authority (EBA) shall develop guidelines on the implementation of paragraph 1 of this Article for products and services related to the credit score of the consumer. When doing so, the EBA shall duly take into account the relevant provisions of Directive (EU) 2023/2225 on credit agreements for consumers, including subsequent implementing legislation and guidelines.
Amendment 460 #
Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 1 – point a – point i
Article 10 – paragraph 1 – subparagraph 1 – point a – point i
(i) data holders and data users representing a significant proportion of the market of the product or service concerned, with each side having fair and equal representation in the internal decision- making processes of the scheme as well as equal weight in any voting procedures; where a member is both a data holder and data user, its membership shall be counted equally towards both sides;
Amendment 484 #
Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 1 – point h – point v
Article 10 – paragraph 1 – subparagraph 1 – point h – point v
Amendment 490 #
Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 2
Article 10 – paragraph 1 – subparagraph 2
Amendment 564 #
Proposal for a regulation
Article 30 – paragraph 4
Article 30 – paragraph 4
4. Before adopting a delegated act, the Commission shall consult stakeholders and experts designated by each Member State in accordance with the principles laid down in the Interinstitutional Agreement of 13 April 2016 on Better Law-Making.
Amendment 585 #
Proposal for a regulation
Article 36 – paragraph 2
Article 36 – paragraph 2
It shall apply from [OP please insert the date = 24 30months after the date of entry into force of this Regulation]. However, Articles 9 to 13 shall apply from [OP please insert the date = 1824 months after the date of entry into force of this Regulation].
Amendment 588 #
Proposal for a regulation
Article 36 a (new)
Article 36 a (new)
Article 36a Review Five years after entry into force of this regulation, the European Commission shall review he application of this regulation and present a report to the European Parliament and the Council. The report shall assess in particular: (a) whether the scope should be extended to data collected for the purposes of carrying out an assessment of suitability and appropriateness and what legislative changes would be warranted to allow for such an extension of the scope; (b) whether the financial data schemes introduced in this regulation work as intended, in particular for small and medium-sized companies; (c) the impact on overall competition and market structure; Where appropropriate, the report shall be accompanied by a legislative proposal.