Activities of Stéphanie YON-COURTIN related to 2023/0166(COD)
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 (10)
Amendment 31 #
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; that are annuities and do not have an accumulation phase (immediate annuities)’;
Amendment 57 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 a (new)
Article 1 – paragraph 1 – point 4 a (new)
Regulation (EU) No 1286/2014
Article 6 – paragraph 4
Article 6 – paragraph 4
(4 a) in Article 6, paragraph 4 is amended as follows: "4. The key information document shall be drawn up as a short document written in a concise manner and of a maximum of threefour sides of A4-sized paper when printed, which promotes comparability. It shall: (a) be presented and laid out in a way that is easy to read, using characters of readable size; (b) focus on the key information that retail investors need; (c) be clearly expressed and written in language and a style that communicate in a way that facilitates the understanding of the information, in particular, in language that is clear, succinct and comprehensible. " Or. en (02014R1286-20211221)
Amendment 79 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point c a (new)
Article 1 – paragraph 1 – point 5 – point c a (new)
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point c a (new)
Article 8 – paragraph 3 – point c a (new)
(ca) in paragraph 3, the following point is inserted: ‘(ca) for PRIIPs which are ‘financial products’ as defined in Article 2, point (12), of Regulation (EU) 2019/2088 of the European Parliament, under a section titled ‘Is this product sustainable?’, the following information: (i) whether the PRIIPs will make sustainable investments in accordance with Regulation (EU) 2019/2088. Where applicable the minimum proportion of the investment of the PRIIP that qualify as sustainable investment in accordance with Regulation (EU) 2019/2088 and/or are activities that qualify as environmentally sustainable in accordance with Articles 5 and 6 of Regulation (EU) 2020/852 of the European Parliament and of the Council**** shall be disclosed. The difference between sustainable investment in accordance with Regulation (EU) 2019/2088 and activities that qualify as environmentally sustainable in accordance with Articles 5 and 6 of Regulation (EU) 2020/852, shall be explained; (ib) whether, in relation to the PRIIP the PRIIP manufacturer considered principal adverse impacts of investment decision on sustainability factors; (ii) the expected greenhouse gas emissions intensity associated with the PRIIP pursuant to Delegated Regulation 2022/1288 and where applicable, if the PRIIP has a reduction in carbon emissions as its objective’;
Amendment 84 #
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
Article 8 – paragraph 3 – point ga
Amendment 95 #
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 1 – introductory part
Article 8 – paragraph 5 – subparagraph 1 – introductory part
(eb) Article 8, paragraph 5 is amended as follows: "5. In order to ensure consistent application of this Article, after conducting consumer testing, the ESAs shall, through the Joint Committee of the European Supervisory Authorities (‘Joint Committee’), develop draft regulatory technical standards specifying: " Or. en (02014R1286-20211221)
Amendment 96 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point e b (new)
Article 1 – paragraph 1 – point 5 – point e b (new)
Regulation (EU) No 1286/2014
Article 8 – paragraph 5 – subparagraph 2
Article 8 – paragraph 5 – subparagraph 2
(ea) in paragraph 5, the second subparagraph is amended as follows: "When developing the draft regulatory technical standards the ESAs shall take into account the various types of PRIIPs, the differences between them and the capabilities of retail investors as well as the features of the PRIIPs so as to allow the retail investor to select between different underlying investments or other options provided for by the product, including where this selection can be undertaken at different points in time, or changed in the future. Where appropriate, in order to provide fair, clear and no misleading information to retail investors, different approaches should be taken between different types (i.e. groups, or categories) of products. In relation to the presentation and content of the information referred to in paragraph 3(ca), the ESAs shall take into account the financial product disclosures made in accordance with Regulation (EU) 2019/2088 and Delegated Regulation 2022/1288. This alignment shall only be ensured to a certain extent, as to meet the KIDs' objectives and preserve the readability of the information to potential retail investors." Or. en (02014R1286-20211221)
Amendment 98 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point f a (new)
Article 1 – paragraph 1 – point 5 – point f a (new)
Regulation (EU) No 1286/2014
Article 8 – paragraph 5 – subparagraph 5 (new)
Article 8 – paragraph 5 – subparagraph 5 (new)
(fa) in paragraph 5, the following subparagraph is added: “Two years after the application of Directive (EU) [OP Please introduce the number of the amending Directive] and after having consulted ESMA and EIOPA, the Commission shall carry out an evaluation on the alignment between the precontractual disclosure of information referred to in paragraph 3(ca) and Regulation (EU) 2019/2088. An alignment shall only be ensured to a certain extent, given the KIDs' objectives and to preserve the readability of the information to potential retail investors. The Commission shall present a report on its main findings to the European Parliament, the Council and the European Economic and Social Committee, and accompanied, where appropriate, by a legislative proposal."
Amendment 114 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Amendment 119 #
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
(6) The key information document shall remain accessible on the website of the person advising or selling the PRIIPSPRIIP manufacturer, and shall remain capable of being downloaded and stored in a durable medium, for such period of time as the retail investor may need to consult it. Where the KID has been provided by means of an interactive tool in accordance with paragraph 2, the tool shall remain accessible on the website of the person advising on, or selling, the PRIIP or the website of the PRIIP manufacturer, for such a period of time as the retail investor may need to consult it. Where the PRIIP manufacturer has revised the key information document as referred to in Article 10, the PRIIP manufacturer shall provide the retail investors with previous versions upon request.
Amendment 121 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7 a (new)
Article 1 – paragraph 1 – point 7 a (new)
Regulation (EU) No 1286/2014
Article 16 – paragraph 2 – point c
Article 16 – paragraph 2 – point c
(7a) in Article 16(2), point (c) is amended as follows: "(c) a competent authority or competent authorities have not taken action to address the threat or the actions that have been taken do not adequately address the threat. or the concerned product(s) is marketed in multiple Member States making it difficult for the distribution authority of the home Member State to oversee product distribution issues and for competent authorities of the host Member State to oversee the manufacturing process." Or. en (02014R1286-20211221)