Activities of Ralf SEEKATZ related to 2023/0166(COD)
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1286/2014 as regards the modernisation of the key information document
Amendments (17)
Amendment 32 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Regulation (EU) No 1286/2014
Article 2 – paragraph 2 – point h
Article 2 – paragraph 2 – point h
‘(h) pension products, including immediate annuities without a redemption phase, which, under national law, are recognised as having the primary purpose of providing the investor with an income in retirement and which entitle the investor to certain benefits;’;
Amendment 33 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Regulation (EU) No 1286/2014
Article 2 – paragraph 2 – point h a (new)
Article 2 – paragraph 2 – point h a (new)
‘(ha) immediate annuities.’;
Amendment 36 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3 – point b
Article 1 – paragraph 1 – point 3 – point b
Regulation (EU) No 1286/2014
Article 4 – paragraph 1 – point 7a
Article 4 – paragraph 1 – point 7a
(7a) ‘electronic format’ means a website or any durable medium other than paper;;
Amendment 42 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Regulation (EU) No 1286/2014
Article 6 – paragraph 3 – introductory part
Article 6 – paragraph 3 – introductory part
3. By way of derogation from paragraph 2, where a PRIIP offers the retail investor a range of options for investments, such that all information required in Article 8(3) with regard to each investment option cannot be provided within a single, concise stand-alone document, the key information document shall provide a generic description of the underlying investment options, and the costs of the PRIIP other than the costs for the investment option, provided that:
Amendment 48 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Regulation (EU) No 1286/2014
Article 6 – paragraph 3 – point a
Article 6 – paragraph 3 – point a
(a) PRIIPs manufacturers provide investors with tools, such as a table or list, adapted to retail investors that facilitate research and comparison among the different investment options, including on costs;
Amendment 52 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Regulation (EU) No 1286/2014
Article 6 – paragraph 3 – point c
Article 6 – paragraph 3 – point c
Amendment 65 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a
Article 1 – paragraph 1 – point 5 – point a
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point a a – point v
Article 8 – paragraph 3 – point a a – point v
(v) whether or not the PRIIP offers the insurance benefits referred to in point (c) (iv);
Amendment 67 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a
Article 1 – paragraph 1 – point 5 – point a
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point aa – point v a (new)
Article 8 – paragraph 3 – point aa – point v a (new)
(va) whether or not the PRIIP offers financial guarantees;
Amendment 88 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point d
Article 1 – paragraph 1 – point 5 – point d
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point ga – introductory part
Article 8 – paragraph 3 – point ga – introductory part
(ga) for PRIIPs on which financial market participants are to disclose pre- contractual information pursuant tounder a section titled ‘How environmentally sustainable is this product?’, information whether the PRIIP targets investors with sustainability preferences as defined in Article 2 (7) Delegated Regulation (EU) 2017/565 or in Article 2 (4) Delegated Regulation (EU) 20197/2088 of the European Parliament and of the Council** and Commission Delegated Regulation 2022/1288***, under a section titled ‘How environmentally sustainable is this product?’, the following information: 359. If the product targets investors with sustainability preferences, a further description of the PRIIP`s sustainability factors pursuant to Article 2 (7) ( a) to (c) Delegated Regulation (EU) 2017/565 or Art. 2 (4) (a) to (c) Delegated Regulation (EU) 2017/2359 should be added. This information shall include an ESG scale which illustrates at a glance how the sustainability factors of the PRIIP relate to the overall context of all categories of sustainable preferences defined in the provisions referred to in paragraph (ga).
Amendment 94 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point d
Article 1 – paragraph 1 – point 5 – point d
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point ga a (new)
Article 8 – paragraph 3 – point ga a (new)
(gaa) In order to ensure consistent application of this Article, the ESAs shall, through the Joint Committee of the European Supervisory Authorities (‘Joint Committee’), develop draft regulatory technical standards specifying the details of the presentation and the content of each of the elements of information referred to in paragraph (ga).
Amendment 97 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point e a (new)
Article 1 – paragraph 1 – point 5 – point e a (new)
Regulation (EU) No 1286/2014
Article 8 – paragraph 5 – subparagraph 3 (new)
Article 8 – paragraph 5 – subparagraph 3 (new)
(ea) in paragraph 5, the following subparagraph is inserted after the second subparagraph: “When developing the draft regulatory technical standards, the ESAs shall take into account that the ESG scale as referred to in point ga of the third paragraph of this Article shall be designed in categories from A to F based on the following information: - “A” implies a high proportion of environmentally sustainable investments according to Regulation 2020/852 or Article 2(17) of regulation (EU) 2019/2088; - “B” implies a moderate proportion of environmentally sustainable investments according to Regulation 2020/852 or Article 2(17) of Regulation (EU) 2019/2088 - “C” implies a low proportion of environmentally sustainable investments according to Regulation 2020/852 or Article 2(17) of Regulation (EU) 2019/2088 - “D” implies that the product explicitly considers principal adverse impacts as meant by Regulation (EU) 2019/2088 - “E” implies that the product follows an ESG strategy but does not aim for sustainable investments as meant by Article 2(17) of that Regulation; - “F” implies the product does not consider impact as meant by Regulation (EU) 2019/2088.”
Amendment 99 #
Proposal for a regulation
Article 1 – paragraph 1 – point 6 – point a
Article 1 – paragraph 1 – point 6 – point a
Regulation (EU) No 1286/2014
Article 10 – paragraph 2 – point b
Article 10 – paragraph 2 – point b
(b) the conditions under which the key information document must be revised, distinguishing betweentaking into account: (i) that for PRIIPs that are still made available to retail investors and PRIIPs that are no longer made available;in general pre-contractual information is not necessary anymore; (ii) that the key information document and other information on the PRIIP required by Union law have to remain consistent;”
Amendment 102 #
Proposal for a regulation
Article 1 – paragraph 1 – point 6 a (new)
Article 1 – paragraph 1 – point 6 a (new)
Regulation (EU) No 1286/2014
Article 13 – paragraph 4
Article 13 – paragraph 4
(4) "Where successive transactions regarding the same PRIIP are carried out on behalf of a retail investor in accordance with instructions given by that retail investor to the person selling the PRIIP prior to the first transaction, the obligation to provide a key information document under paragraph 1 shall apply only to the first transaction, and to the first transaction after the key information document has been revised in accordance with Article 10. Additionally, prior to an additional subscription, the latest revised version of the key information document shall be provided to the retail investor upon request." Or. en (Regulation (EU) No 1286/2014)
Amendment 106 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1286/2014
Article 14 – paragraph 2
Article 14 – paragraph 2
Amendment 112 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1286/2014
Article 14 – paragraph 3
Article 14 – paragraph 3
Amendment 117 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1286/2014
Article 14 – paragraph 6
Article 14 – paragraph 6
Amendment 125 #
Proposal for a regulation
Article 2 – paragraph 1
Article 2 – paragraph 1
This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. It shall apply from [PO please insert the date = 18 months after the date of entry into force18 months after the publication of thise amending Regulation]ed Commission Delegated Regulation (EU) 2017/653.