BETA

22 Amendments of Christophe HANSEN related to 2021/0341(COD)

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 6

Directive 2013/36
Article 21c

(6) the following new Article 21c is inserted: Article 21c Requirement to establish a branch for the provision of banking services by third country undertakings and exception for the reverse solicitation of services 1. undertakings established in a third country as referred to in Article 47(1) and (2) to establish a branch in their territory and apply for authorisation in accordance with Title VI to commence or continue conducting the activities referred to in paragraph (1) of that Article in the relevant Member State. 2. counterparty or a professional client within the meaning of Sections I and II of Annex II to Directive 2014/65/EU established or situated in the Union approaches an undertaking established in a third country at its own exclusive initiative for the provision of any service or activity referred to in Article 47(1), the requirement laid down in paragraph 1 of this Article shall not apply to the provision to that person of the relevant service or activity, including a relationship specifically related to the provision of that service or activity. Without prejudice to intragroup relationships, where a third country undertaking, including through an entity acting on its behalf or having close links with such third-country undertaking or any other person acting on behalf of such undertaking, solicits clients or potential clients in the Union, it shall not be deemed to be a service provided at the own exclusive initiative of the client. 3. counterparty as referred to in paragraph 2 shall not entitle the third-country undertaking to market other categories of products, activities or services than those that the client or counterparty had solicited, other than through a third country branch established in a Member State.; ’deleted Member States shall require Where a retail client, an eligible An initiative by a client or

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
Article 47 – paragraph 1 – introductory part

1. This Chapter lays down the rules concerning the carrying out in a Member State of the activities of a third-country- branch:

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
Article 47 – paragraph 1 – point a

~~(a) any of the activities listed in Annex I to this Directive by an undertaking established in a third country;~~deleted

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
Article 47 – paragraph 1 – point b

(b) the activities referred to in Article 4(1), point (b), of Regulation (EU) 575/2013, by an undertaking established in a third country that fulfils any of the criteria laid down in points (i) to (iii) of that point.deleted

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
article 47 – paragraph 2

2. By derogation from paragraph 1, where the undertaking in the third country is not a credit institution or an undertaking that meets the criteria of paragraph 1, point (b), the carrying out of any of the activities listed in Annex I, points (4), (5), and (7) to (15), to this Directive by that undertaking in a Member State shall be subject to Title II, Chapter IV, of Directive 2014/65/EU.deleted

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
Article 48a – paragraph 1 – point b

(b) the third country branch’s authorised activities include taking deposits and other repayable funds from retail customers; (a) for a total aggregated amount higher than 10% of the total value of the assets booked by the third country branch in the Member State, as reported for the immediately preceding annual reporting period in accordance with Section II, Sub-section 4;

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
Article 48c – paragraph 1

1. ~~Member States shall require that third country undertakings establish a branch in their territory before commencing the activities referred to in Article 47(1).~~ The establishment of a third country branch shall be subject to prior authorisation in accordance with this Chapter.

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
Article 48c – paragraph 3 – subparagraph 1 – point d

(d) the authorisation provides that the third country branch may only conduct the authorised activities within the Member State where it is established and expressly prohibits the third country branch from offering or conducting those same activities in other Member States on a cross-border basis; except for transactions concluded with other third country branches of the same group and for transactions incurred on a reverse solicitation basis.

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
Article 48f – paragraph 3

3. Member States shall require third country branches to deposit the liquid assets held to comply with this Article in an escrow account with a credit institution in the Member State where the branch is authorised or, where permitted under national law, with the central bank of the Member State. The liquid assets deposited in the escrow account shall be pledged or assigned by way of security in favor of the resolution authority to secure the claims of the third country branch’s creditors. Member States shall lay down rules to grant the resolution authority the power to act in a fiduciary capacity for the benefit of those creditors for the purposes of this Article and Article 48g.deleted

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
Article 48j – title

~~Article 48j Power to require establishing a subsidiary~~deleted

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

1. Member States shall ensure that competent authorities have the power to require third country branches to apply for authorisation under Title III, Chapter 1, at least where: (a) engaged in the past or currently engages in interconnected activities with other third country branches or subsidiary institutions of the same group or in one of the activities referred to in Article 47(1) with customers or counterparts in other Member States in contravention of the internal market rules; or (b) systemic importance indicators referred to in Article 131(3) and poses a significant risk to the financial stability of the Union or the Member State where it is established.deleted the third country branch has the third country branch meets the

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
Article 48j – paragraph 2

2. Before making the decision referred to in paragraph 1, competent authorities shall consult the competent authorities of the Member States where the relevant third country group has other third country branches and subsidiary institutions. Where they disagree, the competent authorities of the third country group in other Member States may refer the matter to the EBA for mediation in accordance with Article 19 of Regulation (EU) No 1093/2010. EBA shall take its decision within one month of matter being referred and the competent authority of the relevant third country branch shall refrain from taking its decision during that time. The competent authority of the relevant third country branch shall adopt the decision referred to in paragraph 1 in conformity with the decision of EBA.deleted

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
Article 48j – paragraph 3

3. Before imposing the requirement laid down in this Article on a third country branch in accordance with paragraph 1, point (a), the competent authority shall request EBA to issue a recommendation in accordance with Article 16 of Regulation (EU) No 1093/2010 on the interpretation of that point in relation to that third country branch.deleted

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
Article 48j – paragraph 4

~~4. [...]~~deleted

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
Article 48k – title

~~Article 48k Assessment of systemic importance and requirements on systemic third country branches~~deleted

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
Article 48k

1. The third country branch or branches in the Union that belong to the same third country group shall be subject to the assessment laid down in paragraph 2 of this Article where the aggregate amount of assets that they hold on their books in the Union as reported in accordance with Sub-section 4 is equal to or higher than EUR 30 billion, either: (a) preceding three annual reporting periods; or (b) annual reporting periods during the immediately preceding five annual reporting periods.deleted on average for the immediately in absolute terms for at least three

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
Article 48k – paragraph 2

2. Competent authorities shall assess whether the third country branches referred to in paragraph 1 have systemic importance for the Union and for the Member States where they are stablished. For those purposes, competent authorities shall assess whether those third country branches meet the indicators of systemic importance referred to in Article 48j(4) and Article 131(3).deleted

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
Article 48k

3. The assessment of systemic importance referred to in paragraph 2 of this Article shall be performed by one of the following: (a) relevant third country group, the consolidated supervisor of that third country group in the Union in accordance with that Article; (b) the relevant third country group, the competent authority that would become the consolidated supervisor of that third country group in the Union in accordance with that Article, should the third country branches be treated as subsidiary institutions; (c) third country branches and subsidiary institutions in only one Member State, the competent authority of that Member State; or (d) from the starting date of the annual reporting period immediately following the last annual reporting period that triggdeleted where Article 111 applies to the where Article 111 does not apply to whered the obligation to conduct the assessment in accordance with paragraph 1 of this Article: (i) commenced by either of the competent authorities referred to in points (a), (b) or (c); or (ii) be the consolidated supervisor in accordance with point (b) has not been determined. The competent authorities referred to in points (a) and (b), acting as “lead competent authority”, or, where applicable, EBA shall conduct the assessment in full cooperation with all the competent authorities concerned. The competent authorities concerned shall assist and provide all the necessary documentation to the lead competent authority or, where applicable, EBA. For those purposes, ‘competent authorities concerned’ shall mean all the authorities responsible for the supervision of the third country branches and subsidiary institutions of the relevant third country group in the Union. Before the assessment of systemic importance is concluded, the leadthird country group has EBA where, after three months the assessment has not been the competent authority, the competent authority referred to in point (c) or, where applicable, EBA shall hear the third country group and shall set reasonable timeframes for the third country group to submit documentation and make its views known in writing.at would

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

~~4. [...]~~deleted

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

~~5. [...]~~deleted

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

6. The third country branches shall have a period of three months from the date of the decision’s entering into force in accordance with paragraphs 5 or 6 to comply with the requirements laid down in that decision. Where the third country branches are required to apply for authorisation as institutions in accordance with Title III, Chapter 1, their authorisation under this Title shall remain valid on an interim basis until the expiry of the deadline referred to in the first subparagraph of this paragraph is reached or, as the case may be, until the completion of the authorisation process as institutions. The third country branches may request the competent authority to extend the three- month deadline referred to in the first subparagraph where they can justify the need for such an extended deadline to comply with the relevant requirement imposed on them. Where the threshold referred to in paragraph 1 is met by aggregation of assets of various branches, the competent authorities may impose the requirement referred to in this subparagraph in decreasing asset size order up to the point in which the total assets remaining on the books of the third country branches in the Union is less than EUR 30 billion.deleted

2022/08/22
Committee: ECON

Christophe HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point 8

Directive 2013/36/EU
Article 48k – paragraph 7

7. EBA shall develop draft regulatory technical standards to specify the rules of construction for the interpretation of Article 111 of this Directive for the purposes of determining the hypothetical consolidated supervisor as referred to in paragraph 3, point (b), of this Article. EBA shall submit those draft regulatory technical standards to the Commission by [OP please insert the date = 12 months from the date of entry into force of this amending Directive]. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.deleted

2022/08/22
Committee: ECON