7 Amendments of Werner LANGEN related to 2017/2253(INI)
Amendment 14 #
Motion for a resolution
Recital D
Recital D
D. whereas equivalence is a tool to promote international regulatory convergence, which may lead to more competition in the EU on a level playing field, while preventing regulatory arbitrageforth and foremost a sovereign tool to promote equality of treatment between third country entities and EU firms, which may lead to international regulatory convergence, while preventing regulatory arbitrage and preserving the integrity of the single market and its competitiveness;
Amendment 51 #
Motion for a resolution
Paragraph 3
Paragraph 3
Amendment 64 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that several EU legislative acts contain specific provisions for regulatory cooperation with third countries, including the possibility to conclude intcoopernational agreements for supervisory and enforcement purposes and to grant ‘equivalence’;
Amendment 83 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Recognises that the EU’s equivalence regime is an integral part of a number of the legislative acts forming its regulatory framework for financial services and can offer several benefits, such as: the removal of unnecessary regulatory barriers, increased competition, increased capital flows into the EU, and more instruments and investment choices for EU firms and investors;
Amendment 88 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Reiterates that, in some cases, equivalence decisions do not grant financial institutions comparable rights to passport financial services throughout the EU, but recognises that they may give third-country institutions limited access to the single market for certain products or services;
Amendment 92 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Emphasiszes that one of the key objectives for equivalence isare to promote regulatory convergence on the basis of international standardsensure an equal treatment between third country entities and EU firms, and to preserve the interests of the single market and of consumers; this may lead to further regulatory convergence;
Amendment 168 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls for equivalence decisions to be reviewed at least once every three years, or in any case of changes in the third country’s regulatory framework which would call the equivalence decision into question, by the relevant ESA and for such reviews to be made public;