29 Amendments of Antonio Maria RINALDI related to 2022/0411(COD)
Amendment 153 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b – point i
Article 1 – paragraph 1 – point 1 – point b – point i
Regulation (EU) 2017/1129
Article 1 – paragraph 4 – point da
Article 1 – paragraph 4 – point da
(da) an offer of securities to be admitted to trading on a regulated market or an SME growth market and that are fungible with securities already admitted to trading on the same market, provided that they represent, over a period of 12 months, less than 430 % of the number of securities already admitted to trading on the same market;
Amendment 155 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b – point iv
Article 1 – paragraph 1 – point 1 – point b – point iv
Regulation (EU) 2017/1129
Article 1 – paragraph 4 – subparagraph 2
Article 1 – paragraph 4 – subparagraph 2
The document referred to in point (db)(iii) shall have a maximum length of 10 sides of A4-sized paper when printed, shall be presented and laid out in a way that is easy to read, using characters of readable size and shall be drawn up in the official language of the home Member State, or at least one of its official languages, or in another language accepted by the competent authority of that Member State. Additional information requested in point (iii) shall not take in account for the maximum length referred to this paragraph.
Amendment 158 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point c – point i – point 1
Article 1 – paragraph 1 – point 1 – point c – point i – point 1
Regulation (EU) 2017/1129
Article 1 – paragraph 5 – subparagraph 1 – point a
Article 1 – paragraph 5 – subparagraph 1 – point a
(a) securities fungible with securities already admitted to trading on the same regulated market, provided that they represent, over a period of 12 months, less than 430 % of the number of securities already admitted to trading on the same regulated market;
Amendment 161 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point c – point i – point 1
Article 1 – paragraph 1 – point 1 – point c – point i – point 1
Regulation (EU) 2017/1129
Article 1 – paragraph 5 – subparagraph 1 – point b
Article 1 – paragraph 5 – subparagraph 1 – point b
(b) shares resulting from the conversion or exchange of other securities or from the exercise of the rights conferred by other securities, where the resulting shares are of the same class as the shares already admitted to trading on the same regulated market, provided that the resulting shares represent, over a period of 12 months, less than 40 30% of the number of shares of the same class already admitted to trading on the same regulated market, subject to the third subparagraph;;
Amendment 163 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point c – point i – point 2
Article 1 – paragraph 1 – point 1 – point c – point i – point 2
Regulation (EU) 2017/1129
Article 1 – paragraph 5 – subparagraph 1 –point ba
Article 1 – paragraph 5 – subparagraph 1 –point ba
(iii) a document containing the information set out in Annex IX integrated with the information requested in the Annex IV and other additional information the issuer considers needed for the investors to reach an informed investment decision, is filed with the competent authority of the home Member State and made available to the public in accordance with the arrangements set out in Article 21(2).
Amendment 175 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) 2017/1129
Article 3 – paragraph 2 – subparagraph 4 (new)
Article 3 – paragraph 2 – subparagraph 4 (new)
ESMA shall, within six months of the entry into force of this regulation, develop guidelines on appropriate disclosure requirements as referred to in the third subparagraph to be considered by Member States to ensure a high-level harmonised framework is maintained.
Amendment 182 #
Proposal for a regulation
Article 1 – paragraph 1 – point 6 – point c
Article 1 – paragraph 1 – point 6 – point c
Regulation 2017/1129
Article 6 – paragraph 4
Article 6 – paragraph 4
4. A prospectus that relates to shares or other transferrable securities equivalent to shares in companies shall be of maximum length of 30250 sides of A4-sized paper when printed and shall be presented and laid out in a way that is easy to read, using characters of readable size.
Amendment 199 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10 – point a – point i
Article 1 – paragraph 1 – point 10 – point a – point i
Regulation 2017/1129
Article 13 – paragraph 1 – subparagraph 1
Article 13 – paragraph 1 – subparagraph 1
The Commission shall adopt delegated acts in accordance with Article 44 to supplement this Regulation regarding the standardised format and standardised sequence of the prospectus, the base prospectus and the final terms, and the schedules defining the specific information to be included in a prospectus, including LEIs and ISINs, avoiding duplication of information when a prospectus is composed of separate documents. Moreover, the delegated acts shall provide rules for a different information sequence and for a higher maximum length, as referred in Article 6, respectively in paragraph 2 and 4, in relation to prospectuses for admission to trading on a regulated market when securities of the same class are simultaneously offered for subscription or privately placed.;
Amendment 208 #
Proposal for a regulation
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Regulation 2017/1129
Article 14b – paragraph 5
Article 14b – paragraph 5
5. An EU Follow-on prospectus that relates to shares or other transferable securities equivalent to shares in companies shall be of maximum length of 750 sides of A4-sized paper when printed and shall be presented and laid out in a way that is easy to read, using characters of readable size.
Amendment 214 #
Proposal for a regulation
Article 1 – paragraph 1 – point 14
Article 1 – paragraph 1 – point 14
5. An EU Growth issuance document that relates to shares or other transferable securities equivalent to shares in companies shall be of maximum length of 75100 sides of A4-sized paper when printed and shall be presented and laid out in a way that is easy to read, using characters of readable size.
Amendment 224 #
Proposal for a regulation
Article 1 – paragraph 1 – point 17 – point b a (new)
Article 1 – paragraph 1 – point 17 – point b a (new)
Regulation 2017/1129
Article 19 – paragraph 4a (new)
Article 19 – paragraph 4a (new)
(b a) the following paragraph is added: “4a. The Commission is empowered to adopt delegated acts in accordance with Article 44 to supplement this Regulation regarding the inclusion of the information referred in paragraph 1 in the prospectuses for admission to trading on a regulated market when securities of the same class are simultaneously offered for subscription or privately placed."
Amendment 261 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point a
Article 2 – paragraph 1 – point 6 – point a
Regulation (EU) No 596/2014
Article 18 – paragraph 1
Article 18 – paragraph 1
Amendment 270 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point b
Article 2 – paragraph 1 – point 6 – point b
Regulation (EU) No 596/2014
Article 18 – paragraph 1a and 1b
Article 18 – paragraph 1a and 1b
Amendment 278 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point d
Article 2 – paragraph 1 – point 6 – point d
Regulation (EU) No 596/2014
Article 18 – paragraph 6
Article 18 – paragraph 6
Amendment 281 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point e
Article 2 – paragraph 1 – point 6 – point e
Regulation (EU) No 596/2014
Article 18 – paragraph 9 – subparagraph 1
Article 18 – paragraph 9 – subparagraph 1
ESMA shall review the implementing technical standards on the alleviated format of the insider lists for issuers admitted to trading on SME growth markets to extend the use of such a format to all insider lists referred to in paragraphs 1, 1a and 1b and also to review the data fields required.
Amendment 288 #
Proposal for a regulation
Article 2 – paragraph 1 – point 7 – point a
Article 2 – paragraph 1 – point 7 – point a
Regulation (EU) No 596/2014
Article 19 – paragraph 8
Article 19 – paragraph 8
8. Paragraph 1 shall apply to any subsequent transaction once a total amount of EUR 20 000 has been reached within a calendar year. The threshold of EUR 20 000 shall be calculated by adding without netting all transactions referred to in paragraph 1. Once the threshold on the same securities has been reached, the calculation of the threshold shall restart from zero, and any subsequent transactions shall be summed up until a new threshold has been reached.
Amendment 295 #
Proposal for a regulation
Article 2 – paragraph 1 – point 10
Article 2 – paragraph 1 – point 10
Regulation (EU) No 596/2014
Article 25a – Title
Article 25a – Title
Article 25a Mechanism to exchange order bookand quote data
Amendment 298 #
Proposal for a regulation
Article 2 – paragraph 1 – point 10
Article 2 – paragraph 1 – point 10
Regulation (EU) No 596/2014
Article 25a – paragraph 1 – subparagraph 1
Article 25a – paragraph 1 – subparagraph 1
1. Competent authorities supervising trading venues and systematic internalisers trading financial instruments with a significant cross- border dimension shall, by [12 months from the date of entry into force of this Regulation], set up a mechanism to permit ongoing and timely exchange of order bookand quote data referred to in paragraph 2 and collected from those tradingexecution venues in accordance with Article 25 of Regulation (EU) No 600/2014 with respect to the instruments traded in such market. Competent authorities may delegate the set-up of the mechanism to ESMA.
Amendment 301 #
Proposal for a regulation
Article 2 – paragraph 1 – point 10
Article 2 – paragraph 1 – point 10
Regulation (EU) No 596/2014
Article 25a – paragraph 2
Article 25a – paragraph 2
2. A competent authority may obtain order bookand quote data originating from a trading venue that has a cross-border dimension when that competent authority is the competent authority of the most relevant market referred to in Article 26 of Regulation (EU) No 600/2014 for the following financial instruments:
Amendment 304 #
Proposal for a regulation
Article 2 – paragraph 1 – point 10
Article 2 – paragraph 1 – point 10
Regulation (EU) No 596/2014
Article 25a – paragraph 3 – subparagraph 1
Article 25a – paragraph 3 – subparagraph 1
3. A Member State may decide that its competent authority participates in the mechanism set up pursuant to paragraph 1 even if none of the trading venues under the supervision of such competent authority has a significant cross-border dimension. Such decision shall be communicated to ESMA which shall make it public on its website.
Amendment 305 #
Proposal for a regulation
Article 2 – paragraph 1 – point 10
Article 2 – paragraph 1 – point 10
Regulation (EU) No 596/2014
Article 25a – paragraph 3 – subparagraph 2
Article 25a – paragraph 3 – subparagraph 2
When a competent authority is not part of the mechanism set up pursuant to paragraph 1, it shall still comply with a request of exchange of ongoing order bookand quote data pursuant to Article 25 in a timely manner and not later than 5 calendar days from the date of the request.
Amendment 307 #
Proposal for a regulation
Article 2 – paragraph 1 – point 10
Article 2 – paragraph 1 – point 10
Regulation (EU) No 596/2014
Article 25a – paragraph 5
Article 25a – paragraph 5
5. The Commission is empowered to adopt delegated acts to establish a list of designated trading venues that have a significant cross-border dimension in the supervision of market abuse, by taking into account at least the market share of the trading venues on the instruments. The Commission shall review such list at least every 4 years.
Amendment 312 #
Proposal for a regulation
Article 2 – paragraph 1 – point 13 – point a – point i a (new)
Article 2 – paragraph 1 – point 13 – point a – point i a (new)
Regulation (EU) No 596/2014
Article 30 – paragraph 2– point i
Article 30 – paragraph 2– point i
(i a) the point (i) is amended as follows: a) point (iii) is replaced by the following: "iii) for infringements of Articles 18, 19 and 20, EUR 500 000 or in the Member States whose currency is not the euro, the corresponding value in the national currency on 2 July 2014; and " b) the following point (iv) is added: "iv) for infringements of Articles 17(4) and 18, EUR 25 000 or in the Member States whose currency is not the euro, the corresponding value in the national currency on 2 July 2014;"
Amendment 315 #
Proposal for a regulation
Article 2 – paragraph 1 – point 13 – point a – point ii
Article 2 – paragraph 1 – point 13 – point a – point ii
Regulation (EU) No 596/2014
Article 30 – paragraph 2 – point j – point iii a (new)
Article 30 – paragraph 2 – point j – point iii a (new)
(iii a) for infringements of Articles 17 (4) and 18 EUR 50 000 or, where the legal person is an SME, EUR 25 000 or in the Member States whose currency is not the euro, the corresponding value in the national currency on 2 July 2014;
Amendment 317 #
Proposal for a regulation
Article 2 – paragraph 1 – point 13 – point a – point ii
Article 2 – paragraph 1 – point 13 – point a – point ii
Regulation 2017/1129
Article 30 – paragraph 2 – point j – point iv
Article 30 – paragraph 2 – point j – point iv
(iv) for infringements of Articles 18 and 19, 0,8 % of its total annual turnover according to the last available accounts approved by the management body. Instead of the minimum amount based on the total annual turnover, competent authorities may exceptionally impose administrative sanctions of at least EUR 1 000 000, or where the legal person is an SME, EUR 400 000, or in the Member States whose currency is not the euro, the corresponding values in the national currency on 2 July 2014 if they deem that the amount for the administrative sanction based on the total annual turnover would be disproportionately low with respect to the circumstances referred to in Article 31(1), points (a), (b), (d), (e), (f), (g) and (h);
Amendment 320 #
Proposal for a regulation
Article 2 – paragraph 1 – point 13 – point a – point ii a (new)
Article 2 – paragraph 1 – point 13 – point a – point ii a (new)
Regulation (EU) No 596/2014
Article 30 – paragraph 2– point j
Article 30 – paragraph 2– point j
(ii a) the point (j) is amended as followed: i) point iii is replaced by the following: "iii) for infringements of Articles 18, 19 and 20, EUR 1500 000 or in the Member States whose currency is not the euro, the corresponding value in the national currency on 2 July 2014; and" ii) the following point (iv) is added: "(iv) for infringements of Articles 17(4) and 18, EUR 25 000 or in the Member States whose currency is not the euro, the corresponding value in the national currency on 2 July 2014.;"
Amendment 324 #
Proposal for a regulation
Article 3 – paragraph 1 – point 1 a (new)
Article 3 – paragraph 1 – point 1 a (new)
Regulation (EU) 600/2014
Article 25 – paragraph 2 a (new)
Article 25 – paragraph 2 a (new)
(1 a) the following paragraph is added: 2 a. The above paragraph shall also apply to systematic internalisers in respect of quote data.
Amendment 326 #
Proposal for a regulation
Article 3 – paragraph 1 – point 2
Article 3 – paragraph 1 – point 2
Regulation (EU) 600/2014
Article 25 – paragraph 3
Article 25 – paragraph 3
Following consulting with relevant stakeholders, ESMA shall develop draft regulatory technical standards to specify the details and formats of the relevant order data required to be maintained under paragraph 2 of this Article that is not referred to in Article 26.
Amendment 335 #
Proposal for a regulation
Annex I
Annex I