12 Amendments of Thomas MANN related to 2013/0214(COD)
Amendment 71 #
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4a) In order to make ELTIFs a feasible and attractive choice for institutions for occupational retirement provision and insurance companies as well as credit institutions and investment firms, it is important that adequate adjustments are made to their regulatory capital requirements, within the framework of Directive 2009/138/EC of the European Parliament and of the Council7a and Directive 2013/36/EU of the European Parliament and of the Council7b, in order to provide flexibility in the case of ELTIFs as regards the high capital requirements for investments in illiquid assets. Moreover, any additional national regulatory constraints should be thoroughly assessed, if necessary. ___________________ 7a. Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (recast) (OJ L 335, 17 December 2009, p. 1). 7b. Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC Text with EEA relevance (OJ L 176, 27 June 2013, p. 338)
Amendment 131 #
Proposal for a regulation
Article 2 – paragraph 1 a (new)
Article 2 – paragraph 1 a (new)
Semi-professional client means any investor who fulfils the following conditions (a) commits to invest an amount of at least EUR 100,000; and (b) states in writing, in a separate document from the contract to be concluded for the commitment to invest, that they are aware of the risks associated with the envisaged commitment or investment
Amendment 133 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Only EU AIFs managed by an EU alternative investment fund manager (AIFM) authorised under Directive 2011/61/EU shall be eligible for authorisation as an ELTIF.
Amendment 139 #
Proposal for a regulation
Article 4 – paragraph 2 – subparagraph 1
Article 4 – paragraph 2 – subparagraph 1
Amendment 142 #
Proposal for a regulation
Article 4 – paragraph 2 – subparagraph 2
Article 4 – paragraph 2 – subparagraph 2
Amendment 148 #
Proposal for a regulation
Article 4 – paragraph 2 – subparagraph 3
Article 4 – paragraph 2 – subparagraph 3
Amendment 270 #
Proposal for a regulation
Article 24 – paragraph 1 – point h
Article 24 – paragraph 1 – point h
(h) retail investors may, during the subscription period and at least two weeks after subscription of units or shares of the ELTIF, cancel their subscription and have the money returned without penalty.
Amendment 277 #
Proposal for a regulation
Article 25 – paragraph 1
Article 25 – paragraph 1
1. The manager of an ELTIF shall be able to market the units or shares of that authorised ELTIF to professional and retail investors in its home Member State upon notification in accordance with Article 31 of Directive 2011/61/EU.
Amendment 280 #
Proposal for a regulation
Article 25 – paragraph 4 – introductory part
Article 25 – paragraph 4 – introductory part
4. In addition to the documentation and information required pursuant to Articles 31 and 32 of Directive 2011/61/EU the manager of the ELTIF shall provide to its competent authority all of the following:
Amendment 281 #
Proposal for a regulation
Article 25 – paragraph 5
Article 25 – paragraph 5
5. The competences and powers of the competent authorities pursuant to Articles 31 and 32 of Directive 2011/61/EU shall be understood to also refer to the marketing of ELTIFs to retail investors and to cover the additional requirements laid down in this Regulation.
Amendment 282 #
Proposal for a regulation
Article 25 – paragraph 6
Article 25 – paragraph 6
6. In addition to its powers in accordance with Article 31(3) first paragraph of Directive 2011/61/EU, tThe competent authority of the home Member State of the ELTIF manager shall also prevent the marketing of an authorised ELTIF if the ELTIF manager does not or will not comply with this Regulation.
Amendment 288 #
Proposal for a regulation
Article 30 – paragraph 1 – introductory part
Article 30 – paragraph 1 – introductory part