BETA

Activities of Valentino GRANT

Plenary speeches (1)

European Central Bank – annual report 2021 (continuation of debate)
2022/02/14
Dossiers: 2020/2085(INI)

Shadow reports (10)

REPORT on the Sustainable Europe Investment Plan - How to finance the Green Deal
2020/10/26
Committee: BUDGECON
Dossiers: 2020/2058(INI)
Documents: PDF(278 KB) DOC(132 KB)
Authors: [{'name': 'Siegfried MUREŞAN', 'mepid': 124802}, {'name': 'Paul TANG', 'mepid': 125020}]
REPORT on the proposal for a regulation of the European Parliament and of the Council establishing the InvestEU Programme
2020/11/03
Committee: BUDGECON
Dossiers: 2020/0108(COD)
Documents: PDF(792 KB) DOC(292 KB)
Authors: [{'name': 'José Manuel FERNANDES', 'mepid': 96899}, {'name': 'Irene TINAGLI', 'mepid': 197591}]
REPORT on the impact on the fishing sector of offshore wind farms and other renewable energy systems
2021/06/01
Committee: PECH
Dossiers: 2019/2158(INI)
Documents: PDF(186 KB) DOC(75 KB)
Authors: [{'name': 'Peter van DALEN', 'mepid': 96809}]
REPORT on Banking Union – annual report 2020
2021/07/26
Committee: ECON
Dossiers: 2020/2122(INI)
Documents: PDF(227 KB) DOC(85 KB)
Authors: [{'name': 'Danuta Maria HÜBNER', 'mepid': 96779}]
REPORT on the proposal for a decision of the European Parliament and of the Council on the mobilisation of the European Globalisation Adjustment Fund for Displaced Workers following an application from Italy – EGF/2021/003 IT Porto Canale
2021/12/10
Committee: BUDG
Dossiers: 2021/0337(BUD)
Documents: PDF(196 KB) DOC(70 KB)
Authors: [{'name': 'Janusz LEWANDOWSKI', 'mepid': 23781}]
REPORT on the European Central Bank – annual report 2021
2021/12/15
Committee: ECON
Dossiers: 2021/2063(INI)
Documents: PDF(196 KB) DOC(73 KB)
Authors: [{'name': 'Dimitrios PAPADIMOULIS', 'mepid': 28586}]
REPORT on the proposal for a regulation of the European Parliament and of the Council on certain provisions for fishing in the GFCM (General Fisheries Commission for the Mediterranean) Agreement area (recast)
2022/04/28
Committee: PECH
Dossiers: 2021/0248(COD)
Documents: PDF(234 KB) DOC(95 KB)
Authors: [{'name': 'Ladislav ILČIĆ', 'mepid': 221463}]
REPORT on the proposal for a directive of the European Parliament and of the Council amending Directive 2014/65/EU to make public capital markets in the Union more attractive for companies and to facilitate access to capital for small and medium-sized enterprises and repealing Directive 2001/34/EC
2023/10/26
Committee: ECON
Dossiers: 2022/0405(COD)
Documents: PDF(230 KB) DOC(66 KB)
Authors: [{'name': 'Alfred SANT', 'mepid': 124781}]
REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) 2017/1129, (EU) No 596/2014 and (EU) No 600/2014 to make public capital markets in the Union more attractive for companies and to facilitate access to capital for small and medium-sized enterprises
2023/10/26
Committee: ECON
Dossiers: 2022/0411(COD)
Documents: PDF(439 KB) DOC(136 KB)
Authors: [{'name': 'Alfred SANT', 'mepid': 124781}]
REPORT on the proposal for a directive of the European Parliament and of the Council on multiple-vote share structures in companies that seek the admission to trading of their shares on an SME growth market
2023/10/26
Committee: ECON
Dossiers: 2022/0406(COD)
Documents: PDF(265 KB) DOC(80 KB)
Authors: [{'name': 'Alfred SANT', 'mepid': 124781}]

Shadow opinions (3)

OPINION on discharge in respect of the implementation of the general budget of the European Union for the financial year 2019: European Fisheries Control Agency (EFCA)
2021/02/24
Committee: PECH
Dossiers: 2020/2169(DEC)
Documents: PDF(128 KB) DOC(68 KB)
Authors: [{'name': 'Pierre KARLESKIND', 'mepid': 197585}]
OPINION on a European strategy for offshore renewable energy
2021/06/21
Committee: PECH
Dossiers: 2021/2012(INI)
Documents: PDF(136 KB) DOC(72 KB)
Authors: [{'name': 'Catherine CHABAUD', 'mepid': 197505}]
OPINION on the proposal for a Council directive restructuring the Union framework for the taxation of energy products and electricity (recast)
2022/03/22
Committee: PECH
Dossiers: 2021/0213(CNS)
Documents: PDF(183 KB) DOC(124 KB)
Authors: [{'name': 'Gabriel MATO', 'mepid': 96936}]

Institutional motions (2)

MOTION FOR A RESOLUTION on the 2021-2027 multiannual financial framework and own resources: time to meet citizens’ expectations
2019/10/02
Dossiers: 2019/2833(RSP)
Documents: PDF(132 KB) DOC(51 KB)
MOTION FOR A RESOLUTION Situation in Eastern Democratic Republic of Congo and the assassination of the Italian Ambassador Luca Attanasio and his entourage
2021/03/08
Dossiers: 2021/2577(RSP)
Documents: PDF(136 KB) DOC(43 KB)

Oral questions (1)

Putting forward an EU Strategy for Demography
2021/06/07
Documents: PDF(53 KB) DOC(11 KB)

Written questions (67)

Requested deployment of emergency team and possible inspections in response to damage caused by brown marmorated stink bug (Halyomorpha Halys) in southern Italy
2019/10/09
Documents: PDF(43 KB) DOC(9 KB)
Need for Commission inquiry and scrutiny regarding the arrest of three migrants on disembarkation from Sea Watch 3
2019/10/10
Documents: PDF(45 KB) DOC(10 KB)
Nord/LB rescue plan
2019/11/20
Documents: PDF(41 KB) DOC(10 KB)
Swift mobilisation of the EUSF – damage caused by bad weather in Italy
2019/11/20
Documents: PDF(44 KB) DOC(10 KB)
Disastrous flooding in Venice: urgent EU action required through deployment of the European Solidarity Fund and special funds
2019/11/21
Documents: PDF(46 KB) DOC(10 KB)
Future of airports and ports in Naples and Salerno (Italy)
2019/12/12
Documents: PDF(40 KB) DOC(9 KB)
Rescue of the Banca Popolare di Bari
2020/01/08
Documents: PDF(41 KB) DOC(9 KB)
Imposition of US trade tariffs in connection with the Airbus dispute
2020/01/10
Documents: PDF(43 KB) DOC(10 KB)
Cryptocurrencies and the need to implement legislation
2020/01/23
Documents: PDF(40 KB) DOC(9 KB)
Consultation of Parliament on future decisions concerning the multiannual plan for small pelagic fisheries in the Adriatic Sea
2020/02/07
Documents: PDF(44 KB) DOC(10 KB)
Turkey’s decision not to stop Syrian refugees entering the EU
2020/02/28
Documents: PDF(45 KB) DOC(10 KB)
Suspension of flights to and from Italy following coronavirus cases
2020/03/04
Documents: PDF(45 KB) DOC(10 KB)
Repercussions of President Lagarde’s statements on bond spreads
2020/03/16
Documents: PDF(41 KB) DOC(9 KB)
Protecting Italy from unfair tax competition within the EU
2020/03/31
Documents: PDF(41 KB) DOC(9 KB)
Covid-19 emergency: facilities for the insurance sector and review of Solvency II
2020/03/31
Documents: PDF(40 KB) DOC(10 KB)
Reshaping the EU-China relations framework
2020/04/08
Documents: PDF(46 KB) DOC(10 KB)
Revision of European food strategies in view of the COVID-19 emergency
2020/04/08
Documents: PDF(44 KB) DOC(10 KB)
Migrants landing in Sicily
2020/04/14
Documents: PDF(45 KB) DOC(10 KB)
Coronavirus - state aid and distortion of competition
2020/05/08
Documents: PDF(43 KB) DOC(10 KB)
Possible distortions of competition in the German banking system
2020/05/25
Documents: PDF(41 KB) DOC(9 KB)
Future of fishing: investment, research and innovation
2020/06/25
Documents: PDF(40 KB) DOC(9 KB)
Imports of fake honey from China
2020/07/01
Documents: PDF(44 KB) DOC(10 KB)
Seizure of Italian fishing vessels – Libya
2020/09/10
Documents: PDF(41 KB) DOC(9 KB)
Lack of a full impact assessment at the regulatory stage of the European Fund for Sustainable Development
2020/09/22
Documents: PDF(40 KB) DOC(9 KB)
European funding for the Wuhan Institute of Virology
2020/10/21
Documents: PDF(48 KB) DOC(11 KB)
Legal privileges in the repayment of loans from the EU to the Member States
2020/10/26
Documents: PDF(40 KB) DOC(9 KB)
Temporary revision of calendar provisioning and default criteria
2020/10/27
Documents: PDF(41 KB) DOC(10 KB)
Allocation of payments under the Recovery and Resilience Facility
2020/11/04
Documents: PDF(40 KB) DOC(9 KB)
Defending the European way of life
2020/11/04
Documents: PDF(43 KB) DOC(10 KB)
The detention of Nasibe Semsai and Turkey’s migration policies towards totalitarian regimes
2020/11/19
Documents: PDF(47 KB) DOC(11 KB)
Closure of ski resorts
2020/11/25
Documents: PDF(44 KB) DOC(10 KB)
Reduction of fishing effort in the Mediterranean
2020/12/03
Documents: PDF(42 KB) DOC(10 KB)
Reforms in regard to use of RRF funds
2020/12/15
Documents: PDF(40 KB) DOC(9 KB)
Further restrictions on the free movement of commercial vehicles in transit through Austria and Germany
2021/02/18
Documents: PDF(45 KB) DOC(10 KB)
Compensation to the Italian State for serious legal mistake made by Commission in 2015
2021/03/05
Documents: PDF(41 KB) DOC(9 KB)
Company bankruptcies caused by the coronavirus
2021/03/08
Documents: PDF(42 KB) DOC(9 KB)
Rejection of Commission appeal in the Tercas case
2021/03/08
Documents: PDF(42 KB) DOC(10 KB)
Exportation of EU-produced vaccines outside the Union
2021/03/16
Documents: PDF(45 KB) DOC(10 KB)
Opacity of contributions to the SRF
2021/03/24
Documents: PDF(41 KB) DOC(10 KB)
New post for Carles Esteva Mosso, in light of the sliding doors phenomenon
2021/04/15
Documents: PDF(43 KB) DOC(10 KB)
Update on the adoption of the Own Resources Decision
2021/04/15
Documents: PDF(42 KB) DOC(9 KB)
Increase in raw materials prices and its impact on European industry
2021/04/20
Documents: PDF(39 KB) DOC(9 KB)
Funding for NGOs
2021/07/12
Documents: PDF(41 KB) DOC(9 KB)
Désir d’enfant
2021/09/16
Documents: PDF(55 KB) DOC(10 KB)
Recasting of the ETD Directive and the global rise in fuel costs: impact on fisheries
2021/10/28
Documents: PDF(40 KB) DOC(10 KB)
REACT-EU programme and funding for research to reduce the costs of beef cultivation
2021/10/29
Documents: PDF(45 KB) DOC(10 KB)
Legitimacy of operating a potential European agency for the management of public debt
2022/01/11
Documents: PDF(41 KB) DOC(9 KB)
Increase in inflation and the green transition
2022/01/11
Documents: PDF(39 KB) DOC(9 KB)
The case of the journalist Sedef Kabas
2022/01/31
Documents: PDF(44 KB) DOC(10 KB)
EU development aid to non-cooperative tax jurisdictions
2022/02/08
Documents: PDF(41 KB) DOC(9 KB)
Unfolding of the Russia-Ukraine conflict and the EU’s response
2022/02/28
Documents: PDF(41 KB) DOC(10 KB)
Unfolding of the Russia-Ukraine war and the EU’s response
2022/02/28
Documents: PDF(39 KB) DOC(9 KB)
Urgent measures for the fisheries and aquaculture sector in view of price rises and the war in Ukraine
2022/03/16
Documents: PDF(40 KB) DOC(10 KB)
Rising fuel prices - special aid for fisheries
2022/03/16
Documents: PDF(40 KB) DOC(9 KB)
Bluefin tuna: ‘floating room’ and compliance with legislation in force
2022/04/23
Documents: PDF(40 KB) DOC(10 KB)
Dutch trade surplus during the European energy crisis
2022/09/02
Documents: PDF(39 KB) DOC(9 KB)
Request for an opinion on the sustainability and use of new technologies for the production of biofuels and biogas
2023/01/17
Documents: PDF(44 KB) DOC(10 KB)
Negative impact of the Commission’s proposal for a revision of the Energy Performance of Buildings Directive
2023/01/27
Documents: PDF(43 KB) DOC(10 KB)
Commission proposal on cross-border parenthood
2023/02/22
Documents: PDF(48 KB) DOC(11 KB)
Policies promoting smart working in the light of its beneficial effects on birth rates
2023/05/09
Documents: PDF(39 KB) DOC(9 KB)
Use of extra-budgetary instruments contrary to European fiscal rules
2023/05/15
Documents: PDF(42 KB) DOC(10 KB)
Rising unemployment in a number of EU regions
2023/05/25
Documents: PDF(44 KB) DOC(9 KB)
Tackling the shortage of medical specialists
2023/06/21
Documents: PDF(51 KB) DOC(10 KB)
Spread and impact of the blue crab on marine biodiversity and aquaculture in the Mediterranean basin
2023/07/18
Documents: PDF(48 KB) DOC(9 KB)
Policies to prevent, research and raise awareness of diseases affecting women
2023/07/20
Documents: PDF(42 KB) DOC(10 KB)
Compensation for damages caused by the Commission's incorrect decision in the Tercas case
2023/09/26
Documents: PDF(42 KB) DOC(10 KB)
Judicial liability and separation of functions
2023/11/09
Documents: PDF(42 KB) DOC(10 KB)

Individual motions (1)

MOTION FOR A RESOLUTION on reversing the European demographic trend
2022/07/06
Documents: PDF(137 KB) DOC(45 KB)

Amendments (1844)

Amendment 4 #

2023/2229(INI)

Motion for a resolution
Recital A
A. whereas under Article 309 TFEU, the EIB is tasked with contributing to the achievement of the EU’s objectives, by having recourse to the capital market and utilising its own resources, to the balanced and steady development of the internal market in the interest of the Union;
2024/01/08
Committee: BUDG
Amendment 28 #

2023/2229(INI)

Motion for a resolution
Paragraph 6
6. Stresses the role of the European Investment Fund in improving access to finance for smaller EU companies, mid- caps and start-ups; calls on the EIB to provide additional growth capital to enable small and medium-sized enterprises to scale up their operations, especially in times of severe crisis, including through cooperation with National Support Banks and local banking networks;
2024/01/08
Committee: BUDG
Amendment 106 #

2023/2229(INI)

Motion for a resolution
Paragraph 23
23. Reiterates its call for clear and binding rules to complement the information note summarising EIB Global’s approach to human rights, corruption and anti-money laundering and terrorist financing, in particular on assessment and disengagement; expresses particular concern that, since 2015, the EIB has not required project promoters to carry out any standalone human rights impact assessments;
2024/01/08
Committee: BUDG
Amendment 107 #

2023/2229(INI)

Motion for a resolution
Paragraph 23 a (new)
23 a. Is concerned about the EIB's involvement of a project of the now bankrupt Kenyan construction company Spencon, which shows that EIB money has been used to pay out bribes to local officials or pay for illegal activities, including a EUR 80,000 cash payment to engineers for onsite inspections on a sewage treatment plant; regrets that the EIB closed the case rapidly in 2020 and only opened it again in 2022 after pressure from civil society organisations; regrets that OLAF did not pursue the case; highlights that the Spencon case underlines the need for the EIB to step up its anti-corruption framework, despite the fact that bribes are common practice in many countries where EIB Global operates;
2024/01/08
Committee: BUDG
Amendment 114 #

2023/2229(INI)

Motion for a resolution
Paragraph 24
24. Is concerned that the EIB is falling behind other public financial institutions in terms of transparency and in ensuring that no harm is done by its intermediated investments, as it rated only ‘fair’ on the 2023 Foreign Direct Investment Transparency Index; recalls that the EIB’s transparency policy runs counter to the presumption of disclosure and is not aligned with the applicable exceptions listed in Regulation (EC) No 1049/20013 and Regulation (EC) No 1367/20064 ; urges the EIB to implement the European Ombudsman’s recommendations of 20 November 2023 from Case 2252/2022/OAM and of 21 April 2022 from Case 1251/2020/PB to allow for a meaningful assessment of the environmental and social aspects of projects it is considering for funding; calls for the timely publication of the minutes of the EIB's Broad of Directors; _________________ 3 Regulation (EC) No 1049/2001 of the European Parliament and of the Council of 30 May 2001 regarding public access to European Parliament, Council and Commission documents (OJ L 145, 31.5.2001, p. 43). 4 Regulation (EC) No 1367/2006 of the European Parliament and of the Council of 6 September 2006 on the application of the provisions of the Aarhus Convention on Access to Information, Public Participation in Decision-making and Access to Justice in Environmental Matters to Community institutions and bodies (OJ L 264, 25.9.2006, p. 13).
2024/01/08
Committee: BUDG
Amendment 123 #

2023/2229(INI)

Motion for a resolution
Paragraph 25 a (new)
25 a. Is concerned that the EIB has, at least once, failed to conduct a full inquiry into allegations of bribery and misuse of funds involving a financial intermediary outside the EU; calls on the EIB to reopen all such cases and to disclose annually the rate of recovery of funds lent in the event of proven fraud;
2024/01/08
Committee: BUDG
Amendment 124 #

2023/2229(INI)

Motion for a resolution
Paragraph 25 a (new)
25 a. Regrets that a sitting Vice- President of the European Parliament, Nicola Beer, has seamlessly, without a cooling-off period, been appointed Vice- President of the European Investment Bank as of 1 January 2024; regrets the decision, which is it at odds with good governance rules on revolving doors;
2024/01/08
Committee: BUDG
Amendment 129 #

2023/2229(INI)

Motion for a resolution
Paragraph 25 b (new)
25 b. Notes with concern the continued increase in administrative overheads, which is mainly due to the rise in staff related costs; calls on the EIB to exercise cost discipline and to preserve the flexibility and efficiency of this management structure;
2024/01/08
Committee: BUDG
Amendment 55 #

2023/2124(INI)

Motion for a resolution
Citation 18 a (new)
– having regard to Article 39 TFEU establishing the need to ensure a fair standard of living for the agricultural (and fishing) community, to assure the availability of supplies and to ensure that supplies reach consumers at reasonable prices;
2023/10/18
Committee: PECH
Amendment 58 #

2023/2124(INI)

Motion for a resolution
Citation 18 b (new)
– having regard to the principle of proportionality (Article 5 TEU), under which Member States should propose the option that has the least impact on the fleet and that ensures effective nature conservation;
2023/10/18
Committee: PECH
Amendment 59 #

2023/2124(INI)

Motion for a resolution
Citation 18 c (new)
– having regard to Article 2(1)(b) of the Paris Agreement, which highlights the need to increase the ability to adapt to the adverse impacts of climate change and foster climate resilience and low greenhouse gas emission development, in a way that does not threaten food production;
2023/10/18
Committee: PECH
Amendment 85 #

2023/2124(INI)

Motion for a resolution
Recital C a (new)
Ca. whereas, according to European Commission data, in 2009 there were only five sustainably fished fish stocks in the EU but by 2022 this number had grown to more than 60 and the situation continues to improve1 a; _________________ 1 a COM(2023)103
2023/10/18
Committee: PECH
Amendment 89 #

2023/2124(INI)

Motion for a resolution
Recital C b (new)
Cb. whereas target 3 of the Convention on Biological Diversity aims to ensure and enable that by 2030 at least 30% of coastal and marine areas are effectively conserved and managed through MPAs and other effective area-based conservation measures (OECMs), while ensuring that any sustainable use, where appropriate in such areas, is fully consistent with conservation outcomes, recognising and respecting the rights of local communities.
2023/10/18
Committee: PECH
Amendment 94 #

2023/2124(INI)

Motion for a resolution
Recital C c (new)
Cc. whereas the EU's fisheries and environmental legislation already requires the seabed to be protected and restored. whereas, by way of example, in the Mediterranean Sea mobile bottom fishing is prohibited at a depth of more than 1 000 metres;
2023/10/18
Committee: PECH
Amendment 101 #

2023/2124(INI)

Motion for a resolution
Paragraph -1 (new)
-1 Notes the need to strengthen and improve scientific recommendations, to adopt an ecosystem-based approach for managing marine resources, and to use a higher resolution when mapping the fishing footprint and carbon sinks.
2023/10/18
Committee: PECH
Amendment 110 #

2023/2124(INI)

Motion for a resolution
Paragraph 1 a (new)
1a. Notes that doing so will incur a significant socio-economic cost for Member States and their fleets. Therefore regrets the fact that the action plan is not accompanied by a socio-economic study and does not propose any kind of additional financing measures for the green and energy transitions proposed by the European Commission.
2023/10/18
Committee: PECH
Amendment 119 #

2023/2124(INI)

Motion for a resolution
Paragraph 2 a (new)
2a. Calls for public aid to be allocated to research and innovation aimed at reducing contact with the seabed, rather than to changing fishing gear or scrapping
2023/10/18
Committee: PECH
Amendment 126 #

2023/2124(INI)

Motion for a resolution
Paragraph 3 a (new)
3a. Deplores the fact that the Commission has not included inclusive and effective environmental protection instruments, such as OECMs, in the action plan. Calls, to that end, for the FAO's 2022 handbook for identifying, evaluating and reporting other effective area-based conservation measures in marine fisheries[1] to be used. [1] A handbook for identifying, evaluating and reporting other effective area-based conservation measures in marine fisheries (FAO).
2023/10/18
Committee: PECH
Amendment 130 #

2023/2124(INI)

Motion for a resolution
Paragraph 3 b (new)
3b. Calls for OECMs to be included in the calculation of the statutory protection target of 30% so that this objective can be achieved in a proportionate manner. Asks in this regard for other closures to bottom fishing established by fisheries legislation to be taken into account, such as the 87 areas recently closed to bottom fishing in the Atlantic, or the closures in the Western Mediterranean due to the multiannual management plan.
2023/10/18
Committee: PECH
Amendment 132 #

2023/2124(INI)

Motion for a resolution
Paragraph 3 c (new)
3c. Requests that (in addition to the European Maritime Fund for Fisheries and Aquaculture (EMFAF)) the European Social Fund and the European Regional Development Fund adopt fisheries-focused programmes in order to improve the channelling of funds to areas where they are most needed. Further calls on the European Commission to produce monitoring reports to verify whether funds are being properly implemented and distributed.
2023/10/18
Committee: PECH
Amendment 134 #

2023/2124(INI)

Motion for a resolution
Paragraph 3 d (new)
3d. Strongly recommends that an assessment of the proven risks of using deep-sea fishing gear in Natura 2000 conservation areas be carried out in order to determine for certain whether an activity is incompatible with an ecological issue.
2023/10/18
Committee: PECH
Amendment 142 #

2023/2124(INI)

Motion for a resolution
Paragraph 4 a (new)
4a. Stresses that the blanket ban on bottom fishing in MPAs is not provided for by any international instrument (BBNJ, CBD or the RFMOs), or even by the EU legal acquis.
2023/10/18
Committee: PECH
Amendment 156 #

2023/2124(INI)

Motion for a resolution
Paragraph 5 a (new)
5a. Conservation measures should be specific to the designation of each site and solutions to identified problems should be considered on a case-by-case basis.
2023/10/18
Committee: PECH
Amendment 182 #

2023/2124(INI)

Motion for a resolution
Paragraph 7 a (new)
7a. Calls for a socioeconomic impact study of the proposed measures, in particular with regard to the ban on bottom fishing in marine protected areas, and calls for all necessary means, including incentives and compensatory mechanisms, to be put in place for a just and balanced transition
2023/10/18
Committee: PECH
Amendment 223 #

2023/2124(INI)

Motion for a resolution
Paragraph 11 a (new)
11a. Notes the need to study the effect of shifting fishing effort to new, previously unexploited areas due to the bans introduced, which could lead to the emergence of conflicts between different fishing gears, the inaccessibility of target species or increased fuel consumption
2023/10/18
Committee: PECH
Amendment 278 #

2023/2124(INI)

Motion for a resolution
Paragraph 18 a (new)
18a. Would like the Commission to clarify the legally binding aspects of the plan and how it will fit in with other legislation (Marine Strategy Framework Directive, Nature Restoration Law, farm- to-fork strategy, Water Framework Directive, etc.).
2023/10/18
Committee: PECH
Amendment 298 #

2023/2124(INI)

Motion for a resolution
Paragraph 22 a (new)
22a. Points out that the various sectors that make up the blue economy are interdependent. The loss or scrapping of fishing vessels therefore has a direct impact on European shipyards and other logistics services. Highlights in this regard the need for a decarbonisation and environmental protection strategy that focuses more on innovation than on eliminating fishing activity, and pays equal attention to the three pillars of sustainability – environmental, social and economic – while helping to retain skilled jobs in Europe.
2023/10/18
Committee: PECH
Amendment 301 #

2023/2124(INI)

Motion for a resolution
Paragraph 23
23. Considers it essential that any restrictions, whether based on the action plan or not, should be automatically mirrored in the case of products imported from non-EU countries, especially given that the EU imports 70 % of the fish it consumes, to ensure consistency between internal and external policies, and a level playing field between EU and non-EU operators; and that thousands of tonnes of fish come from third countries, such as China, that even benefit from tariff preferences (autonomous tariff quotas), to ensure consistency between internal and external policies, and a level playing field between EU and non-EU operators; calls to that end for a study of the estimated increase in imports to be conducted in the light of the targets set in the plan (30% of the seas).
2023/10/18
Committee: PECH
Amendment 46 #

2023/2064(INI)

Motion for a resolution
Paragraph 1
1. WelcomesTakes note of the role of the ECB in safeguarding euro stability; underlines that the statutory independence of the ECB, as laid down in the Treaties, is a prerequisite for it to fulfil its mandate of maintaining price stability; believes, however, that the pursuit of economic growth and full employment should also be included in the ECB's mandate;
2023/10/06
Committee: ECON
Amendment 52 #

2023/2064(INI)

Motion for a resolution
Paragraph 2
2. Underlines that price stability is a prerequisite for the ECB to deliver on its mandate to support the EU’s general economic policies, such as the green and digital transitions; stresses that price stability is essential for attracting long term investments and to avoid the loss of purchasing power of families and businesses, especially SMEs;
2023/10/06
Committee: ECON
Amendment 75 #

2023/2064(INI)

Motion for a resolution
Paragraph 5
5. Expresses concern about the high levels of debt and government deficits withlooks forward to the outcome of the Commission’s legislative proposals on revising the EU’s economic governance rules expecting the Member States and the risks that this entails; noat a new regulatory framework can be defined and orientesd that the situation is worse in the euro area than in non-euro area Member States; looks forward to the outcome of the Commission’s legislative proposals on revising the EU’s economic governance rules and welcomes the ECB’s opinion in this regardo truly stimulate investment and growth, as well as the labour market and social policies, abandoning austerity policies that have been shown to have only worsened the recovery path of many Eurozone Member States;
2023/10/06
Committee: ECON
Amendment 172 #

2023/2064(INI)

Motion for a resolution
Paragraph 16 a (new)
16a. Call for the revision of the Treaty rules to allow the ECB to buy Member States' debt securities when necessary to ensure the stability of the Eurozone;
2023/10/06
Committee: ECON
Amendment 174 #

2023/2064(INI)

Motion for a resolution
Paragraph 16 b (new)
16b. Is deeply worried about worsening of financial conditions for households and businesses, and the increasing imbalances between Member States in the Eurozone due to the extraordinary rising in interest rates; calls on the ECB not to raise rates further, and carefully assess the medium term effects of recent increases on the economy;
2023/10/06
Committee: ECON
Amendment 195 #

2023/2064(INI)

Motion for a resolution
Paragraph 17 a (new)
17a. It’s concerned about the ECB's systematic inability to make correct forecasts; calls the ECB to equip itself with tools to study and assess geopolitical scenarios in order to improve its forecasting ability;
2023/10/06
Committee: ECON
Amendment 4 #

2023/2027(INI)

Motion for a resolution
Citation 15 a (new)
– having regard to the IUU Fishing Action Alliance Pledge to stimulate ambition and action in the fight against illegal, unreported and unregulated fishing,
2023/11/09
Committee: PECH
Amendment 30 #

2023/2027(INI)

Motion for a resolution
Recital F a (new)
Fa. whereas EU fleets face a huge amount of red tape, costing them both economically and in terms of competitiveness in relation to imported products;
2023/11/09
Committee: PECH
Amendment 37 #

2023/2027(INI)

Motion for a resolution
Recital J a (new)
Ja. whereas the zero tolerance policy on IUU fishing should apply equally to all third countries, irrespective of size;
2023/11/09
Committee: PECH
Amendment 39 #

2023/2027(INI)

Motion for a resolution
Recital J b (new)
Jb. whereas, pursuant to Article 31(3) of Regulation (EC) No 1005/2008, a third country may be identified as a non- cooperating third country if it fails to discharge the duties incumbent upon it under international law as flag, port, coastal or market State, to take action to prevent, deter and eliminate IUU fishing;
2023/11/09
Committee: PECH
Amendment 83 #

2023/2027(INI)

Motion for a resolution
Paragraph 12
12. Urges the Commission to increase the number of staff working on ocean governance and IUU fishing within the Commission’s Directorate-General for Maritime Affairs and Fisheries;deleted
2023/11/09
Committee: PECH
Amendment 85 #

2023/2027(INI)

Motion for a resolution
Paragraph 12 a (new)
12a. Calls for evaluations carried out by the EC with Member States on issues related to the implementation of IUU fishing controls to take the form of a routine audit programme of Member States’ control procedures;
2023/11/09
Committee: PECH
Amendment 87 #

2023/2027(INI)

Motion for a resolution
Paragraph 13 a (new)
13a. Calls for a balanced representation of advisory council members, as well as the national fisheries stakeholders of the Member States concerned, in the discussions on the use of the IT system so that it can be effective and properly implemented from an operational perspective;
2023/11/09
Committee: PECH
Amendment 91 #

2023/2027(INI)

Motion for a resolution
Paragraph 14 a (new)
14a. Calls for a mechanism to be established within the new system to allow for the proactive sharing of intelligence and results of audits and inspections to ensure a constant flow of relevant information between Member States;
2023/11/09
Committee: PECH
Amendment 93 #

2023/2027(INI)

Motion for a resolution
Paragraph 14 b (new)
14b. Calls for further clarification to be provided to Member States, through guidelines, in particular on the content and scope of the control and verification requirements for catch certificates on the basis of risk management, also in relation to consignments in transit;
2023/11/09
Committee: PECH
Amendment 116 #

2023/2027(INI)

Motion for a resolution
Paragraph 18 a (new)
18a. Requests that the action plans provided to third countries during the card process be disclosed, following the publication of the pre-identification decision in the Official Journal of the EU; recommends, also, that the specific actions taken by third countries that resulted in the retention/withdrawal of cards be regularly published;
2023/11/09
Committee: PECH
Amendment 118 #

2023/2027(INI)

Motion for a resolution
Paragraph 18 b (new)
18b. Calls, as a matter of good practice, for up-to-date lists of authorised vessels to be submitted by third countries and for them to commit to ensuring that they remain up-to-date, in the interests of transparency and in view of ongoing legislative processes;
2023/11/09
Committee: PECH
Amendment 94 #

2023/0379(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 9
Regulation (EU) 2016/1011
Article 19a – paragraph 4 – introductory part
4. Administrators that are not authorised or registincluded in the register referred pursuant toto in Article 346 shall not :
2024/02/01
Committee: ECON
Amendment 98 #

2023/0379(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 9
Regulation (EU) 2016/1011
Article 19a – paragraph 4 – subparagraph 1 – point a
(a) provide EU Climate Transition Benchmarks or EU Paris-aligned Benchmarks;
2024/02/01
Committee: ECON
Amendment 120 #

2023/0379(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 14 – point a
Regulation (EU) 2016/1011
Article 29 – title
Use of critical benchmarks, significant benchmarks, EU Climate Transition Benchmarks and EU Paris- aligned Benchmarks;
2024/02/01
Committee: ECON
Amendment 121 #

2023/0379(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 14 – point b
Regulation (EU) 2016/1011
Article 29 – paragraph 1 – subparagraph 1
1. A supervised entity shall not add new references to a significant benchmark or a combination of such benchmarks in the Union where that benchmark or combination of benchmarks is the object of a public notice issued by ESMA or a competent authority in accordance with Article 24a(5). A supervised entity shall not add new references to critical benchmark or an EU Climate Transition Benchmark or an EU Paris- aligned Benchmark or combination of such benchmarks in the Union where the administrator of those benchmarks is not included in the register referred to in Article 36.
2024/02/01
Committee: ECON
Amendment 124 #

2023/0379(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 14 – point c
Regulation (EU) 2016/1011
Article 29 – paragraph 1a
1ab. A supervised entity that uses a benchmark in existing financial contracts or to measure the performance of investment funds or financial instruments that is subject to a public notice under Article 24a(5) shall replace that benchmark with an appropriate alternative within 6 months following the publication of that notice, or issue and publish a statement on its website informing clients of the absence of an appropriate alternative.;
2024/02/01
Committee: ECON
Amendment 127 #

2023/0379(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 14 – point c a (new)
Regulation (EU) 2016/1011
Article 29 – paragraph 2
(ca) paragraph 2 is amended as follows: 2. Where the object of a prospectus to be published under Directive 2003/71/EC or Directive 2009/65/EC is transferable securities or other investment products that reference a benchmark, the issuer, offeror, or person asking for admission to trade on a regulated market shall ensure that twhe prospectus also includes clear and prominent information stating whether the benchmark is provided by an administrator included in the register referred to in Article 36 of this Regulationn a public notice on the benchmark used is included in the register referred to in Article 36 of this Regulation, within 6 months following the publication of the public notice, the prospectus also includes this information in a clear and prominent manner.
2024/02/01
Committee: ECON
Amendment 22 #

2023/0264(BUD)

Motion for a resolution
Paragraph 1 a (new)
1a. Highlights that Member States are still facing numerous challenges and is convinced that Union citizens are therefore expecting the 2024 budget to be more efficient, transparent, performance- based providing concrete reductions in administrative expenditure and granting an efficient and accountable use of taxpayers’ money; underlines also the need to properly evaluate which funds could be better managed at national level in order to ensure full respect for the principle of subsidiarity;
2023/09/29
Committee: BUDG
Amendment 28 #

2023/0264(BUD)

Motion for a resolution
Paragraph 4
4. Notes that, despite the Commission’s proposal to revise the MFF, the Council chose to formulate its position on the 2024 budget assuming no change to the framework; deeply regrets that, despite the drastic constraints,takes note that the Council elected to cut commitment appropriations in the DB by EUR 772 million and payment appropriations by EUR 515 million across the MFF headings; considers that the cuts proposed by the Council are not driven by an objective assessment of needs or absorption capacregrets Parliament’s lack of flexibility and run accounter, in many instances, to shared policy ambitions and political agreements; decides, therefore, toability in relation to Council’s position having restored appropriations on all lines cut by the Council to the level of the DB, despite the limited budgetary margins still available and having no guarantee of either if or when an agreement on the revision of the MFF regulation will be reached;
2023/09/29
Committee: BUDG
Amendment 30 #

2023/0264(BUD)

Motion for a resolution
Paragraph 4 a (new)
4a. Stresses that new policy priorities or tasks must be accompanied by an efficient use of resources; asks if policy priorities or tasks of decentralised agencies could not be better accomplished by existing Directorates-General of the Commission or by Member states in order to prevent duplication of roles and costs and also improving transparency;
2023/09/29
Committee: BUDG
Amendment 67 #

2023/0264(BUD)

Motion for a resolution
Paragraph 15
15. Recalls that the Connecting Europe Facility (CEF) is key to boosting investment in high-performance, sustainable trans-European networks and to decarbonisespecially ing the EU economy, thereby accelerating the green transition and promoting interconnectivitycompletion of the trans- European transport network (TEN-T); underlines that CEF Transport has been vital in supporting transport infrastructure in and towards Ukraine (“solidarity lanes”) and in enabling the transport of critical goods in both directions and welcomes the decision to associate Ukraine to the programme; proposes, to increase appropriations for CEF Transport by EUR 100 million above the DB in 2024 in order to support thesestresses that the budget of CEF Transport has been mostly committed by now, which shows the utility and added value of the programme; therefore, takes note of the proposal to increase appropriations for CEF Transport by EUR 100 million above the DB in 2024, although it considers that the increase should be significantly higher to support all the programme’s aims;
2023/09/29
Committee: BUDG
Amendment 110 #

2023/0264(BUD)

Motion for a resolution
Paragraph 30
30. Deems it necessaryRegrets the decision to reinforce support to the Turkish-Cypriot line by EUR 2 million above DB in order to finance the Committee on Missing Persons in Cyprus and support the bi-communal Technical Committee on Cultural Heritage;
2023/09/29
Committee: BUDG
Amendment 138 #

2023/0264(BUD)

Motion for a resolution
Paragraph 42 a (new)
42a. Underlines the failure of European policies in preventing migration flows and human trafficking; reiterates its concerns about the role played by instruments such as the Internal Security Fund and the Asylum, Migration and Integration Fund, which should guarantee the proper implementation of a rigorous asylum policy in accordance with international standards, while blocking illegal immigration and ensuring border controls and an adequate repatriation policy;
2023/09/29
Committee: BUDG
Amendment 151 #

2023/0264(BUD)

Motion for a resolution
Paragraph 52 a (new)
52a. Highlights that any funding under the NDICI should be made conditional on the effective implementation of repatriation agreements;
2023/09/29
Committee: BUDG
Amendment 154 #

2023/0264(BUD)

Motion for a resolution
Paragraph 53
53. Stresses the importance of the Southern Neighbourhood line in supporting political, economic and social reforms in the region, in providing assistance to refugees, in particular Syrian and Palestinian refugees, and in enabling support along the southern migration routes; proposes, therefore, to increase appropriations for the line by EUR 650 million above DB, including to ensure predictable funding for UNWRA; proposes, however, to withhold funding for UNWRA under the reserve meachanism due to unsolved cases of anti-Semitic incitement;
2023/09/29
Committee: BUDG
Amendment 160 #

2023/0264(BUD)

Motion for a resolution
Paragraph 54 a (new)
54a. Calls for an immediate stop to the Union’s accession negotiations with Turkey and the prompt suspension of all funds provided to that country under the Instrument for Pre-Accession Assistance and EIB financing, since Turkey does not respect several of the basic principles of freedom and democracy and it has increased its aggressive behaviour, not only in the Mediterranean area, becoming a real threat for many Member States;
2023/09/29
Committee: BUDG
Amendment 169 #

2023/0264(BUD)

Motion for a resolution
Paragraph 64
64. Underlines the need to provide a sufficient level of payment appropriations in the 2024 budget and decides, as a general rule, to reinforce payment appropriations on those lines which are amended in commitment appropriations; reminds once again that an increase of payment appropriations ceilings does not automatically correlate with better absorption capacity of the EU Budget; points out, in this regard, that the amount of outstanding commitments (committed amounts but not yet paid) attained record 452,2 billion EUR at the end of 2022;
2023/09/29
Committee: BUDG
Amendment 170 #

2023/0264(BUD)

Motion for a resolution
Paragraph 65 a (new)
65a. Reminds with concern that the European Parliament continues to lead very costly building policy (amounting to 18 810 626 EUR in 2023) and to expand the Liaison Offices as well as "Europa Experience" centres (costing 15 399 498 EUR in 2023) all over the Europe;
2023/09/29
Committee: BUDG
Amendment 171 #

2023/0264(BUD)

Motion for a resolution
Paragraph 68 – introductory part
68. In line with its above-mentioned resolution of 20 April 2023 on its estimates of revenue and expenditure for the financial year 2024 and taking into account the answers provided by the Secretary- General on 19 July 2023: (a) Recalls the Parliament’s 2013 resolution which estimated the costs of the geographic dispersion to range from EUR 156 million to EUR 204 million per year; deplores the fact that over a single parliamentary term the costs generated by Parliament’s geographic dispersion can amount to as much as EUR 1 billion and calls, therefore, for practical steps to be taken quickly to establish a single seat for Parliament, in order to prevent any further waste of public money;
2023/09/29
Committee: BUDG
Amendment 244 #

2023/0212(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 5
5. ‘digital euro payment account’ means an account held by one or more digital euroa users with a payment service provider to access digital euro recorded in the digital euro settlement infrastructure or in an offline digital euro device and to initiate or receive digital euro payment transactions, whether offline or online, and irrespective of technology and data structure;
2024/02/21
Committee: ECON
Amendment 248 #

2023/0212(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 8
8. 'digital euro payment service’ means any of the business activities set out in Annex I;
2024/02/21
Committee: ECON
Amendment 256 #

2023/0212(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 25
25. ‘comparable digital means of payment’ means digital means payment, including debit card payment and instant payment at the point of interaction but excluding credit transfer and direct debit that are not initiated at the point of interaction;
2024/02/21
Committee: ECON
Amendment 262 #

2023/0212(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 26
26. ‘switching’ means, upon a digital euro user’s request, transferring from one payment service provider to another either the information about all or some digital euro payment services, including recurring payments, executed on a digital euro payment account, or the digital euro holdings from one digital euro payment account to the other, or both, with or without closing the former digital euro payment account, while maintaining the same account identifidigital euro payment account number;
2024/02/21
Committee: ECON
Amendment 264 #

2023/0212(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 27
27. ‘user identifidigital euro payment account number’ means a unique identifier created by a payment service provider distributing the digital euro that unambiguously idifferentiatfies, for online digital euro purposes, a digital euro userspayment account but that is not attributable to an identifiable natural or legal person by the European Central Bank and the national central banks;
2024/02/21
Committee: ECON
Amendment 270 #

2023/0212(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 29
29. ‘user authentication’ means a unique piece of information created by the payment service provider distributing the digital euro that together with the user identifier allows a digital euro user to prove ownership of the online digital euro holdings recorded in the digital euro settlement infrastructureprocedure as defined in Article 4, paragraph 29 of Regulation (EU) 2015/2366;
2024/02/21
Committee: ECON
Amendment 277 #

2023/0212(COD)

Proposal for a regulation
Article 4 – paragraph 1
1. In accordance with the Treaties, the European Central Bank shall have the exclusive right to authorise the issue of the digital euro, and the European Central Bank and the national central banks may issue the digital euro, subject to an issuance decision pursuant to paragraph 3.
2024/02/21
Committee: ECON
Amendment 283 #

2023/0212(COD)

Proposal for a regulation
Article 4 – paragraph 2 a (new)
2a. Before the planned issuance of the digital euro, the ECB shall submit to the European Parliament, the Council and the Commission a report justifying the need for issuance and laying out an in- depth impact assessment regarding the impact of the digital euro on the payments market.
2024/02/21
Committee: ECON
Amendment 323 #

2023/0212(COD)

Proposal for a regulation
Article 13 – paragraph 4 – subparagraph 1 – point a
(a) to have their digital euros in excess of any limitations the European Central Bank may adopt in accordance with Article 16 automatically defunded to a non-digital euro payment account, held at the same payment service provider, where an online digital euro payment transaction is received;
2024/02/21
Committee: ECON
Amendment 331 #

2023/0212(COD)

Proposal for a regulation
Article 13 – paragraph 4 – subparagraph 1 – point b
(b) to make an online digital euro payment transaction where the transaction amount exceeds their digital euro holdings from a non-digital euro payment account held at the same payment service provider.
2024/02/21
Committee: ECON
Amendment 346 #

2023/0212(COD)

Proposal for a regulation
Article 13 – paragraph 7
7. Digital euro users may have one or several digital euro payment accounts with the same or different payment service providers.
2024/02/21
Committee: ECON
Amendment 370 #

2023/0212(COD)

Proposal for a regulation
Article 15 – paragraph 1
1. With a view to enabling natural and legal persons to access and use digital euro, to defining and implementing monetary policy and to contributing to the stability of the financial system, the use of the digital euro as a store of value mayshall be subject to limitholding and transaction limits. These limits shall be low and shall correspond to the average daily spending of digital euro users as per the latest European Central Bank statistics.
2024/02/21
Committee: ECON
Amendment 407 #

2023/0212(COD)

Proposal for a regulation
Article 16 – paragraph 2 – point c a (new)
(ca) safeguard stable funding of credit institutions and their lending capacity;
2024/02/21
Committee: ECON
Amendment 411 #

2023/0212(COD)

Proposal for a regulation
Article 16 – paragraph 3
3. The parameters and use of the instruments referred to in paragraph 1 shall be applied in a non-discriminatory manner and uniformly across the euro area. Digital euro users who are not natural persons shall be subject to a digital euro holding limit of zero.
2024/02/21
Committee: ECON
Amendment 523 #

2023/0212(COD)

Proposal for a regulation
Article 23 – paragraph 1
1. The digital euro shall be available for both online and offline digital euro payment transactions as of the first issuance of the digital euro.
2024/02/21
Committee: ECON
Amendment 535 #

2023/0212(COD)

Proposal for a regulation
Article 27 – paragraph 1
1. Without prejudice to the disputes concerning the lawfulness of the processing of personal data, disputes between digital euro users and payment service providers in respect to digital euro services shall be governed by Directive 2015/2366. Directive (EU) 2020/1828 shall apply to the representative actions brought against infringements of provisions of this Regulation that harm or may harm the collective interests of consumers.
2024/02/21
Committee: ECON
Amendment 541 #

2023/0212(COD)

Proposal for a regulation
Article 27 – paragraph 3
3. The European Central Bank shall not act as a party in any of the disputes referred to in paragraphs 1 and 2.deleted
2024/02/21
Committee: ECON
Amendment 551 #

2023/0212(COD)

Proposal for a regulation
Article 28 – paragraph 1 – subparagraph 1 – introductory part
Payment service providers distributing the digital euro shall at a minimum provide digital euro users with the choice of using the following digital front-end services to allow digital euro users to access and use digital euro payment services:
2024/02/21
Committee: ECON
Amendment 556 #

2023/0212(COD)

Proposal for a regulation
Article 28 – paragraph 1 – subparagraph 1 – point a
(a) front-end services developed by payment service providers; andor
2024/02/21
Committee: ECON
Amendment 574 #

2023/0212(COD)

Proposal for a regulation
Article 31 – paragraph 1
1. Payment service providers shall enable digital euro users at their request to switch their digital euro payment accounts to other payment service providers while maintaining the same account identifidigital euro payment account numbers.
2024/02/21
Committee: ECON
Amendment 172 #

2023/0205(COD)

Proposal for a regulation
Recital 10
(10) The sharing of theaccess of customer data in the scope of this Regulation should be based on the explicit permission of the customer. In seeking the explicit permission of the customer to use his or her data, the data users should specify what use they intend to make of the customer’s data, should the customer provide permission. The legal obligation on data holders to shareenable access to customer data should be triggered once the customer has explicitly requested their data to be shared with a data user. This request can be submitted by a data user acting on behalf of the customermade accessible to a data user. In accordance with Regulation (EU) [XXXX/XXXX] of the European Parliament of the Council (Data Act), an undertaking providing core platform services that has been designated as a gatekeeper under Regulation (EU) 2022/19251b cannot be eligible as data user under this Regulation. The limitation on granting access to gatekeepers would not exclude them from the market and prevent them from offering its services, as voluntary agreements between them and the data holders remain unaffected. Where the processing of personal data is involved, a data user should have arely on one of the valid lawful basies for processing under Article 6 of Regulation (EU) 2016/679. The customers data can be processed only for the agreed purposes in the context of the service provided. Under this Regulation, these purposes should be strictly limited to the provision of a financial product, a financial service or a financial information service. The processing of personal data must respect the principles of personal data protection, including lawfulness, fairness and transparency, purpose limitation and data minimisation. A customer has the right to withdraw the permission given to a data user. W at any time. For example, when data processing is necessary for the performance of a contract, a customer should be able to withdraw permissions according to the contractual obligations to which the data subject is party. WSimilarly, when personal data processing is based on consent, a data subject has the rightshould be able to withdraw his or her consent at any time, as provided for in Regulation (EU) 2016/679. It should not be possible for the data user to transfer customer data to a third-party actor without this explicit permission, or even to another entity within the same group.
2024/02/02
Committee: ECON
Amendment 194 #

2023/0205(COD)

Proposal for a regulation
Recital 22
(22) The permission dashboard should display the permissions given by a customer, including when personal data are shared based on consent or are necessary for the performance of a contract. The permission dashboard should warn a customer in a standard way of the risk of possible contractual consequences of the withdrawal of a permission, but the customer should remain responsible for managing such risk. The permission dashboard should be used to manage existing permissions. Data holdusers should inform data usholders in real-timemmediately of any withdrawal of a permission. The permission dashboard should include a record of permissions that have been withdrawn or have expired for a period of up to two years to allow the customer to keep track of their permissions in an informed and impartial manner. Data users should inform data holders in real-time of new and re-establishedmmediately of new permissions granted by customers, including the duration of validity of the permission and a short summary of the purpose of the permission. The information provided on the permission dashboard is without prejudice to the information requirements under Regulation (EU) 2016/679.
2024/02/02
Committee: ECON
Amendment 208 #

2023/0205(COD)

Proposal for a regulation
Recital 28
(28) Data holders and data users should be allowed to use existing market standards and infrastructures for technical interfaces like application programming interfaces when developing common standards for mandatory data sharingaccess.
2024/02/02
Committee: ECON
Amendment 212 #

2023/0205(COD)

Proposal for a regulation
Recital 31
(31) To promote consumer protection, enhance customer trust and ensure a level playing field, it is necessary to lay down rules on who is eligible to access customers’ data. Such rules should ensure that all data users are authorised and supervised by competent authorities. This would ensure that data can be accessed only by regulated financial institutions or by firms subject to a dedicated authorisation as financial information service providers’ (‘FISPs’) which is subject to this Regulation. Eligibility rules on FISPs, are needed to safeguard financial stability, market integrity and consumer protection, as FISPs would provide financial products and services to customers in the Unioninformation services and would access data held by financial institutions and the integrity of which is essential to preserve the financial institutions’ ability to continue providing financial services in a safe and sound manner. Such rules are also required to guarantee the proper supervision of FISPs by competent authorities in line with their mandate to safeguard financial stability and integrity in the Union, which would allow FISPs to provide throughout the Union the financial information services for which they are authorised.
2024/02/02
Committee: ECON
Amendment 216 #

2023/0205(COD)

Proposal for a regulation
Recital 33
(33) In order to enable effective supervision and to eliminate the possibility of evading or circumventing supervision, financial information service providers must be either legally incorporated in the Union or in case they are incorporaonly be provided by legal persons that have a registered office in a Member State in which they intend in a third country appoint a legal represento carry out or do carry out substantive in the Unionbusiness activities. An effective supervision by the competent authorities is necessary for the enforcement of requirements under this Regulation to ensure integrity and stability of the financial system and to protect consumers. The requirement of legal incorporation of financial information service providers in the Union or the appointment of a legal representative in the Union does not amount to data localisation since this Regulation does not entail any further requirement on data processing including storage to be undertaken in Union.
2024/02/02
Committee: ECON
Amendment 222 #

2023/0205(COD)

Proposal for a regulation
Recital 48
(48) Regulation (EU) 2016/679 applies when personal data are processed. ItProcessing of personal data in the context of this Regulation should be carried out in accordance with Regulation (EU) 2016/679 and Regulation (EU) 2018/1725, as well as, where applicable, with Directive 2002/58/EC of the European Parliament and of the Council1a (ePrivacy Directive). Regulation (EU) 2016/679 provides for the rights of a data subject, including the right of access and right to port personal data. This Regulation is without prejudice to the rights of a data subject provided under Regulation (EU) 2016/679, including the right of access and right to data portability. This Regulation creates a legal obligation to shareprovide access to and enable re-use of customer personal and non-personal data upon customer’s request and mandates the technical feasibility of access and sharing for all types of data within the scope of this Regulation. The granting of permission by a customer is without prejudice to the obligations of data users under Article 6 of Regulation (EU) 2016/679. Permission should not be construed as ‘consent’ or ‘necessity for the performance of a contract’ as defined in Regulation (EU) 2016/679. Personal data that are made available and shared withto a data user should only be processed for services provided by a data user where there is a valid legal basis under Article 6(1) of Regulation (EU) 2016/679 and, when applicable, where the requirements of Article 9 of that Regulation on the processing of special categories of data are met.
2024/02/02
Committee: ECON
Amendment 237 #

2023/0205(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point b
(b) savings, investments in financial instruments, insurance-based investment products, crypto-assets, real estate and other related financial assets as well as the economic benefits derived from such assets; including data collected for the purposes of carrying out an assessment of suitability and appropriateness in accordance with Article 25 of Directive 2014/65/EU of the European Parliament and of the Council32; and with Article 30 of Directive (EU) 2016/97; _________________ 32 Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (recast) (OJ L 173, 12.6.2014, p. 349).
2024/02/02
Committee: ECON
Amendment 239 #

2023/0205(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point c
(c) pension rights in occupational pension schemes, in accordance with Directive 2009/138/EC and Directive (EU) 2016/2341 of the European Parliament and of the Council33 ; _________________ 33 Directive (EU) 2016/2341 of the European Parliament and of the Council of 14 December 2016 on the activities and supervision of institutions for occupational retirement provision (IORPs) (recast) (OJ L 354, 23.12.2016, p. 37).deleted
2024/02/02
Committee: ECON
Amendment 243 #

2023/0205(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point d
(d) pension rights on the provision of pan-European personal pension products, in accordance with Regulation (EU) 2019/1238;deleted
2024/02/02
Committee: ECON
Amendment 246 #

2023/0205(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point e
(e) non-life insurance products in accordance with Directive 2009/138/EC, with the exception of sickness and health insurance products; including data collected for the purposes of a demands and needs assessment in accordance with Article 20 of Directive (EU) 2016/97 of the European Parliament and Council34 , and data collected for the purposes of an appropriateness and suitability assessment in accordance with Article 30 of Directive (EU) 2016/97. _________________ 34 Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution (recast) (OJ L 26, 2.2.2016, p. 19–5)deleted
2024/02/02
Committee: ECON
Amendment 287 #

2023/0205(COD)

Proposal for a regulation
Article 2 – paragraph 4 a (new)
4 a. Customer data referred to in paragraph 1, do not include: - sensitive data regarding a person's race or ethnicity, political opinions, religious or philosophical beliefs or union memberships, as well as genetic information and information about health and sexual orientation/practices; - proprietary data that the financial institution has generated, analysed or enriched, including trade secrets and business-sensitive information.
2024/02/02
Committee: ECON
Amendment 290 #

2023/0205(COD)

Proposal for a regulation
Article 2 – paragraph 4 b (new)
4 b. This Regulation shall apply to contracts that have been entered into force from the date of application of the present Regulation onwards.
2024/02/02
Committee: ECON
Amendment 299 #

2023/0205(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 2
(2) ‘customer’ means a natural or a legal person who makes use of financial products and services or purchases insurance products;
2024/02/02
Committee: ECON
Amendment 306 #

2023/0205(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 3
(3) ‘customer data’ means personal and non-personal data that is collected, stored and otherwise processed by a financial institution as part of their normal course of business with customers which covers both data provided by a customer and data generated as a result of customer interaction with the financial institution, excluding sensitive data and proprietary data as referred in Article 2, par. 5;
2024/02/02
Committee: ECON
Amendment 313 #

2023/0205(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 5
(5) ‘data holder’ means a financial institution other than an accountr a financial information service provider holding one of the categories of data under Art. 2(1), that collects, stores and otherwise processes the data listed in Article 2(1) ;
2024/02/02
Committee: ECON
Amendment 338 #

2023/0205(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 29
(29) ‘legal representative’ means a natural person domiciled in the Union or a legal person with its registered office in the Union, and which, expressly designated by a financial information service provider established in a third country, acts on behalf of such financial information service provider vis-à-vis the authorities, clients, bodies and counterparties to the financial information service provider in the Union with regard to the financial information service provider’s obligations under this Regulation;deleted
2024/02/02
Committee: ECON
Amendment 356 #

2023/0205(COD)

Proposal for a regulation
Article 5 – paragraph 1 a (new)
1 a. Any undertaking designated as a gatekeeper, pursuant to Article 3 of Regulation (EU) 2022/1925, shall not be an eligible data user under this Regulation.
2024/02/02
Committee: ECON
Amendment 358 #

2023/0205(COD)

Proposal for a regulation
Article 5 – paragraph 2
2. A data holder may claim compensation from a data user for making customer data available pursuant to paragraph 1 only if the customer data is made available to a data user in accordance with the rules and modalities of a financial data sharing scheme, as provided in Articles 9 and 10, or if it is made available pursuant to Article 11. This Regulation is without prejudice to accessing, sharing and using data on a purely contractual basis without making use of the data access obligations established by this Regulation.
2024/02/02
Committee: ECON
Amendment 367 #

2023/0205(COD)

Proposal for a regulation
Article 6 – paragraph 1 a (new)
1 a. Any undertaking providing core platform services for which one or more of such services have been designated as a gatekeeper under Article 3 of Regulation (EU) 2022/1925 of the European Parliament and of the Council of 14 September 2022 on contestable and fair markets in the digital sector and amending Directives (EU) 2019/1937 and (EU) 2020/1828 (Digital Markets Act) shall not be an eligible third party for the purposes of data-sharing and therefore cannot request or be granted access to customers’ data.
2024/02/02
Committee: ECON
Amendment 378 #

2023/0205(COD)

Proposal for a regulation
Article 6 – paragraph 4 – point b a (new)
(b a) respect the data protection rights of data subject and the level of protection guaranteed by General Data Protection Regulation.
2024/02/02
Committee: ECON
Amendment 382 #

2023/0205(COD)

Proposal for a regulation
Article 6 – paragraph 4 – point e a (new)
(e a) not make the data it receives available to an undertaking designated as a gatekeeper pursuant to Article 3 of Regulation (EU) 2022/1925;
2024/02/02
Committee: ECON
Amendment 386 #

2023/0205(COD)

Proposal for a regulation
Article 6 – paragraph 4 – point f a (new)
(f a) not use the data it receives to develop a product that competes with the product from which the accessed data originate or share the data with another third party for that purpose.
2024/02/02
Committee: ECON
Amendment 389 #

2023/0205(COD)

Proposal for a regulation
Article 6 – paragraph 4 a (new)
4 a. Once the data user collects, stores and processes data as per the definition in Article 3(5), it should be considered as a data holder and therefore subject to the obligations on data holders in Article 5.
2024/02/02
Committee: ECON
Amendment 401 #

2023/0205(COD)

Proposal for a regulation
Article 7 – paragraph 3
3. In accordance with Article 16 of Regulation (EU) No 1094/2010, the European Insurance and Occupational Pensions Authority (EIOPA) shall develop guidelines on the implementation of paragraph 1 of this Article for products and services related to risk assessment and pricing of a consumer in the case of life, health and sickness insuranceinsurance products different from insurance-based investment products.
2024/02/02
Committee: ECON
Amendment 437 #

2023/0205(COD)

Proposal for a regulation
Article 8 – paragraph 4 – point b a (new)
(b a) The data holder must be in control of the identity and access management of both the customer and any data user, as well as the permission dashboard through which any request is submitted.
2024/02/02
Committee: ECON
Amendment 443 #

2023/0205(COD)

Proposal for a regulation
Article 9 – paragraph 1
1. Within 18 months from the entry into force of this Regulation, data holders and data users shall become members of a financial data sharing scheme governing access to the customer data in compliance with Article 10Data holders and data users shall become members of a financial data sharing scheme governing access to the customer data in compliance with Article 10 according to the following timeline: i) 36 months from the entry into force of this Regulation for the first tier of customer data relating accounts (except payment accounts), savings (except structured deposits); ii) 48 months from the entry into force of this Regulation for the second tier of customer data relating loans, mortgage credits, crypto assets (provided that the bank knowingly holds the assets in custody on behalf of the customer); iii) 60 months from the entry into force of this Regulation for the third tier of customer data relating investments in financial instruments, structured deposits, insurance based investment products, other related financial assets (provided that the bank knowingly holding the assets in custody on behalf of the customer), non- life insurance products, occupational pension schemes, pan European private pension schemes. This measure should be implemented only after an adequate testing and assessment phase in order to check the benefits for the customers and their interests.
2024/02/02
Committee: ECON
Amendment 475 #

2023/0205(COD)

Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 1 – point h – introductory part
(h) a financial data sharing scheme shall establish a model to determine the maximumreasonable compensation that a data holder is entitled tocan charge for making data available through an appropriate technical interface for data sharing with data users in line with the common standards developed under point (g). The model shall be based on the following principles:
2024/02/02
Committee: ECON
Amendment 478 #

2023/0205(COD)

Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 1 – point h – point i
(i) it should be limited to reasonable compensation directly relatany compensation - including the costs incurred toin making the data available to the data user and which is attributable to the requestand the investment in the collection and production of data, as well as a margin - agreed between a data holder and a data user for making data available shall be reasonable;
2024/02/02
Committee: ECON
Amendment 481 #

2023/0205(COD)

Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 1 – point h – point ii
(ii) it should be based on an objective, transparent and non-discriminatory methodology agreed by the scheme members and may include a margin and respect the provisions of Art. 9(1) of the Data Act (Regulation (EU) XX);
2024/02/02
Committee: ECON
Amendment 483 #

2023/0205(COD)

Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 1 – point h – point v
(v) it should be devised to gear compensation towards the lowest levels prevalent on the market; andeleted
2024/02/02
Committee: ECON
Amendment 550 #

2023/0205(COD)

Proposal for a regulation
Article 20 – paragraph 3 – point a
(a) a public statement indicating the natural or legal person responsible and the nature of the infringement;deleted
2024/02/02
Committee: ECON
Amendment 582 #

2023/0205(COD)

Proposal for a regulation
Article 36 – paragraph 2
It shall apply from [OP please insert the date = 248 months after the date of entry into force of this Regulation]. However, Articles 9 to 13 shall apply from [OP please insert the date = 1836, 48 60 months after the date of entry into force of this Regulation].
2024/02/02
Committee: ECON
Amendment 3 #

2023/0201(APP)

Motion for a resolution
Paragraph 3 a (new)
3 a. Highlights the need to streamline administrative procedures, rationalise expenditure and enhancing transparency and accountability in EU spending to grant an efficient and accountable use of taxpayers’ money for funding priorities and challenges;
2024/02/15
Committee: BUDG
Amendment 20 #

2023/0201(APP)

Motion for a resolution
Paragraph 33
33. Regrets, therefore, that the draft Council regulation does not take up Parliament’s proposal of scrapping the annual cap in payments appropriations for recourse to the Single Margin Instrument, which would have eliminated any risk of a payments crisis; recalls that an increase of payment appropriations ceilings does not automatically correlate with better absorption capacity of the EU budget; points out, in this regard, that the amount of outstanding commitments (amounts committed but not yet paid) attained a record 490 billion EUR at the beginning of 2024;
2024/02/15
Committee: BUDG
Amendment 97 #

2023/0199(COD)

Proposal for a regulation
Recital 4
(4) There is a need to support critical technologies in the following fields: deep and digital technologies, clean technologies, and biotechnologies (including the respective critical raw materials value chains), in particular projects, companies and sectors with a critical role for EU’s competitiveness and resilience and its value chains. By way of example, deep technologies and digital technologies should include microelectronics, high-performance computing, quantum technologies (i.e., computing, communication and sensing technologies), cloud computing, edge computing, and artificial intelligence, cybersecurity technologies, robotics, 5G and advanced connectivity (e.g. fiber-to- the-home/fiber-to-the-building technologies) and virtual realities, including actions related to deep and digital technologies for the development of defence and aerospace applications. Clean technologies should include, among others, renewable energy; electricity and heat storage; heat pumps; electricity grid; renewable fuels of non- biological origin; sustainable alternative fuels, including biofuels; electrolysers and fuel cells; carbon capture, utilisationinfrastructure and storage; energy efficiency; biolubricants; hydrogen and its related infrastructure; smart energy solutions; technologies vital to sustainability such as water purificationcutting-edge solutions implemented for leak detection and repair inspections carried out along renewable gases and water transport and distribution networks; technologies vital to sustainability such as water storage, smart use, purification, (decentralized) water recycling solutions and desalination; advanced materials such as nanomaterials, composites and future clean construction materials, and technologies for the sustainable extraction and processing of critical raw materials. Biotechnology should be considered to include technologies such as biomolecules and its applications, pharmaceuticals and medical technologies vital for health security, crop biotechnology, and industrial biotechnology, such as for waste disposal, and biomanufacturing. The Commission may issue guidance to further specify the scope of the technologies in these three fields considered to be critical in accordance with this Regulation, in order to promote a common interpretation of the projects, companies and sectors to be supported under the respective programmes in light of the common strategic objective. Moreover, technologies in any of these three fields which are subjects of an Important Project of Common European Interest (IPCEI) approved by the Commission pursuant to Article 107(3), point (b) TFEU should be deemed to be critical, and individual projects within the scope of such an IPCEI should be eligible for funding, in accordance with the respective programme rules, to the extent that the identified funding gap and the eligible costs have not yet been completely covered.
2023/09/08
Committee: BUDGITRE
Amendment 131 #

2023/0199(COD)

Proposal for a regulation
Recital 9
(9) To that end, it should be possible to rely on assessments made for the purposes of other Union programmes in accordance with Articles 126 and 127 of Regulation (EU, Euratom) 2018/1046,52 in order to reduce administrative burden for beneficiaries of Union funds and encourage investment in priority technologies. Provided they comply with the provisions of the RRF Regulation,53 Member States should consider including actions awarded the Sovereignty Seal when preparing their recovery and resilience plans and when proposing their Recovering and Resilience Plans and when deciding on investment projects to be financed from its share of the Modernisation Fund. The Sovereignty Seal should also be taken into account by the Commission in the context of the procedure provided for in Article 19 of the EIB Statute and of the policy check laid down in Article 23 of the InvestEU Regulation by ensuring a simplified approval procedure. In addition, the implementing partners should be required encouraged to examine projects having been awarded the Sovereignty Seal in case they fall within their geographic and activity scope in accordance with Article 26(5) of that Regulation and taking into account the mode of operation of the implementing partners. Authorities in charge of programmes falling under STEP should also be encouraged to consider support for strategic projects identified in accordance with the Net Zero Industry and the Critical Raw Materials Acts that are within the scope of Article 2 of the Regulation and for which rules on cumulative funding may apply. _________________ 52 Regulation (EU, Euratom) 2018/1046 on the financial rules applicable to the general budget of the Union (OJ L 193, 30.7.2018, p. 1). 53 Regulation (EU) 2021/241 establishing the Recovery and Resilience Facility (OJ L 57, 18.2.2021, p. 17).
2023/09/08
Committee: BUDGITRE
Amendment 137 #

2023/0199(COD)

Proposal for a regulation
Recital 10
(10) A new publicly available website (the ‘Sovereignty Portal’) should be set up by the Commission in coordination with already existing InvestEU Portal for InvestEU eligible transactions to provide information on available support to companies and project promoters seeking funds for STEP investments. To that end, it should display in an accessible and user- friendly manner the funding opportunities for STEP investments available under the EU budget. This should include information about directly managed programmes, such as Horizon Europe, the Digital Europe programme, the EU4Health programme, and the Innovation Fund, and also other programmes such as InvestEU, the RRF, and cohesion policy funds. Moreover, the Sovereignty Portal should help increase the visibility for STEP investments towards investors, by listing the projects that have been awarded a Sovereignty Seal. The Portal should also list the national competent authorities responsible for acting as contact points for the implementation of the STEP at national level.
2023/09/08
Committee: BUDGITRE
Amendment 269 #

2023/0199(COD)

Proposal for a regulation
Article 4 – paragraph 5
5. Under Regulation (EU) 2021/523, the Sovereignty Seal shall be taken into account in the context of the procedure provided for in Article 19 of the European Investment Bank Statute and of the policy check as laid down in Article 23(3) of that Regulation by ensuring a simplified approval procedure. In addition, the implementing partners shallould be encouraged to examine projects having been awarded the Sovereignty Seal in case they fall within their geographic and activity scope as laid down in Article 26(5) of that Regulation and taking into account their mode of operation.
2023/09/08
Committee: BUDGITRE
Amendment 351 #

2023/0199(COD)

Proposal for a regulation
Article 16 – paragraph 1 – point 6
Regulation (EU) 2021/523
Article 13 – paragraph 4
4. At least 75 % of the EU guarantee under the EU compartment as referred to in Article 4(1), first subparagraph, amounting to at least EUR 25 239 232 554, shall be granted to the EIB Group. Any additional allocation to the EIB Group above the 75% should come from the portion of the EU guarantee that will not be allocated before 31 December 2026 by the Implementing Partners other than the EIB Group following the next Calls for Expression of Interest. The EIB Group shall provide an aggregate financial contribution amounting to at least EUR 6 309 808 138. That contribution shall be provided in a manner and form that facilitates the implementation of the InvestEU Fund and the achievement of the objectives set out in Article 15(2).;
2023/09/08
Committee: BUDGITRE
Amendment 359 #

2023/0199(COD)

Proposal for a regulation
Article 16 – paragraph 1 – point 6 a (new)
(6a) Article 13(7) is amended as follows: Contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in point (a) of Article 16(1) under the EU guarantee referred to in the first subparagraph of Article 4(2) shall be signed at the latest by 31 August 2026. In other cases, contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in point (a) of Article 16(1) shall be signed by 31 December 2028.
2023/09/08
Committee: BUDGITRE
Amendment 362 #

2023/0199(COD)

Proposal for a regulation
Article 16 – paragraph 1 – point 6 b (new)
(6b) Article 20 is amended as follows: Only for intermediated financing and investment operations, in particular for SME support, additionality shall be verified by the Investment Committee at the level of the financial product during the negotiations of the guarantee agreement (or an amendment to it) with the implementing partners.
2023/09/08
Committee: BUDGITRE
Amendment 365 #

2023/0199(COD)

Proposal for a regulation
Article 16 – paragraph 1 – point 8 – point b a (new)
(ba) The seventh subparagraph is replaced by the following: With reference to eligible type of financing as set in Article 16(1)b of the InvestEU Regulation, for intermediated financing and investment operations, in particular for SME support, the Investment Committee shall verify additionality at the level of the financial product during the negotiations of the guarantee agreement or an amendment to it with the implementing partners.
2023/09/08
Committee: BUDGITRE
Amendment 369 #

2023/0199(COD)

Proposal for a regulation
Article 16 – paragraph 1 – point 10
Regulation (EU) 2021/523
Article 26 – paragraph 5
5. In addition to paragraph 4, implementing partners shall alsould also be encouraged to examine projects having been awarded the Sovereignty Seal under Article 4 of Regulation .../... [STEP Regulation] whenever those projects fall within their geographic and activity scope, taking into account their mode of operation.
2023/09/08
Committee: BUDGITRE
Amendment 117 #

2023/0177(COD)

Proposal for a regulation
Recital 15
(15) Rules on ESG rating providers should not apply to private ESG ratings produced pursuant to an individual order and provided exclusively to the person who placed the order and which are not intended for public disclosure or distribution by subscription or other means. Neither should such rules apply to ESG ratings produced by Europeanregulated financial undertakings that are used for internal purposesmay be, inter alia: i) used for internal purposes, or ii) provided externally as, or as part of, a product or service that is regulated by existing EU regulations or third country equivalents, such as Regulation (EU) 2019/2088 (SFDR), Regulation (EU) No 596/2014 (MAR), Directive 2014/65/EU (MiFID II) and Regulation (EU) 2019/2089 (Low Carbon Benchmark Regulation), or iii) used for providing in-house financial services and products, or iv) provided to intra-group entities included in the accounting consolidated group or to the assets under management of the group. ESG ratings developed by European or national authorities and by central banks should also be exempted from such rules. Finally, such rules should not apply to the provision of ESG data that do not include an element of rating or scoring and are not subject to any modelling or analysis resulting in the development of an ESG rating.
2023/10/25
Committee: ECON
Amendment 142 #

2023/0177(COD)

Proposal for a regulation
Recital 22
(22) ESG rating providers should ensure that they provide ESG ratings that are independent, objective and of adequate quality. It is important to introduce organisational requirements ensuring the prevention and mitigation of potential conflicts of interests. To ensure their independence, ESG rating providers should avoid situations of conflict of interest and manage those conflicts adequately where they are unavoidable. ESG rating providers should disclose conflicts of interest in a timely manner. They should also keep records of all significant threats to the independence of the ESG rating provider and that of its employees and other persons involved in the rating process, and the safeguards applied to mitigate those threats. In addition, to avoid potential conflicts of interest, ESG rating providers should not be allowed to offer a number of other services including consulting services, credit ratings, benchmarks, investment activities, audit, or banking, insurance and reinsurance activities. Finally, to prevent, identify, eliminate or manage and disclose any conflicts of interest and ensure the quality, integrity and thoroughness of the ESG rating and review process at all times, ESG rating providers should establish appropriate internal policies and procedures in relation to employees and other persons involved in the rating process. Such policies and procedures should, in particular, include internal control mechanisms and a compliance function. Finally, the incompatibility, at least for one year, of the subjects who carried out evaluation activities in providing the rating of the company involved should be established for managerial positions.
2023/10/25
Committee: ECON
Amendment 150 #

2023/0177(COD)

Proposal for a regulation
Article 2 – paragraph 1
1. This Regulation applies to ESG ratings issued by ESG rating providers operating in the Union and to ESG DATA estimates that are disclosed publicly or that are distributed to regulated financial undertakings in the Union, undertakings that fall under the scope of Directive 2013/34/EU of the European Parliament and of the Council, or Union or Member States public authorities.
2023/10/25
Committee: ECON
Amendment 153 #

2023/0177(COD)

Proposal for a regulation
Article 2 – paragraph 2 – point b
(b) ESG ratings produced by regulated financial undertakings in the Union that aremay be, inter alia: i) used for internal purposes; or for providing in-house financial services and products; ii) provided externally as, or as part of, a product or service that is regulated by existing EU regulations or third country equivalents, such as Regulation (EU) 2019/2088 (SFDR), Regulation (EU) 596/2014 (MAR), Directive 2014/65/EU (MiFID II) and / or Regulation 2019/2089 (Low Carbon Benchmark Regulation); or iii) used for providing in-house financial services and products; or iv) provided to intra-group entities included in the accounting consolidated group or to the assets under management of the group;
2023/10/25
Committee: ECON
Amendment 161 #

2023/0177(COD)

Proposal for a regulation
Article 2 – paragraph 2 – point c
(c) the provision of raw ESG data that do not contain and element of rating or scoring, or estimate and are gathered by ESG data products providers from companies’ public disclosures or from other publicly available information and is not subject to any modelling or analysis resulting in the development of an ESG rating or ESG estimates;
2023/10/25
Committee: ECON
Amendment 163 #

2023/0177(COD)

Proposal for a regulation
Article 2 – paragraph 2 – point c a (new)
(ca) ESG ratings which are produced and disclosed within the scope of existing EU regulations;
2023/10/25
Committee: ECON
Amendment 166 #

2023/0177(COD)

Proposal for a regulation
Article 2 – paragraph 2 – point e
(e) products or services that incorporate“recommendations” containing an element of an ESG rating within the meaning of Article 1(3) Commission Directive 2003/125/EC;
2023/10/25
Committee: ECON
Amendment 168 #

2023/0177(COD)

Proposal for a regulation
Article 2 – paragraph 2 – point e a (new)
(ea) ESG ratings produced internally and forming part of “investment research” products as defined in Article 24(1) of Directive 2006/73/EC and other forms of general ESG-related recommendations, relating to transactions in financial instruments or to financial obligations (such as MAR and MiFID II - delegated acts on investment recommendation and research);
2023/10/25
Committee: ECON
Amendment 169 #

2023/0177(COD)

Proposal for a regulation
Article 2 – paragraph 2 – point e b (new)
(eb) opinions about the sustainability profile of a financial instrument or a financial obligation;
2023/10/25
Committee: ECON
Amendment 170 #

2023/0177(COD)

Proposal for a regulation
Article 2 – paragraph 2 – point e c (new)
(ec) opinions about the sustainability profile of a financial instrument or a financial obligation; (h) credit ratings issued pursuant to Regulation (EC) No 1060/2009 of the European Parliament and of the Council;
2023/10/25
Committee: ECON
Amendment 171 #

2023/0177(COD)

Proposal for a regulation
Article 2 – paragraph 2 – point e d (new)
(ed) ESG rating elements that are used or provided or disclosed as complementary or substantial to financial products or services that incorporate an element of an ESG rating;
2023/10/25
Committee: ECON
Amendment 202 #

2023/0177(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 1 a (new)
(1 a) ‘ESG data estimates’ means raw data relative to ESG profile or characteristics of an undertaking that do not result from the gathering of ESG data from companies’ public disclosures or from other publicly available information but rather derive from estimates or approximations by the ESG data providers - where pure raw data are not available;
2023/10/25
Committee: ECON
Amendment 343 #

2023/0177(COD)

Proposal for a regulation
Article 16 – paragraph 8
8. Persons as referred to in paragraph 1 shall not take up a key management position within a rated entity which they have been involved in rating for six monthsone year after the provision of such rating.
2023/10/25
Committee: ECON
Amendment 372 #

2023/0177(COD)

Proposal for a regulation
Article 21 – paragraph 1
1. ESG rating providers and ESG data providers shall disclose on their website the methodologies, models and key rating assumptions they use in their ESG rating activities, including the information referred to in point 1 of Annex III.
2023/10/25
Committee: ECON
Amendment 421 #

2023/0177(COD)

Proposal for a regulation
Article 30 – paragraph 2 – point d
(d) set a time-limit within which the information is to be provided, in any case not less than 15 days;
2023/10/25
Committee: ECON
Amendment 423 #

2023/0177(COD)

Proposal for a regulation
Article 30 – paragraph 3 – point d
(d) set a time-limit within which the information is to be provided, and in any case not less than 15 days;
2023/10/25
Committee: ECON
Amendment 431 #

2023/0177(COD)

Proposal for a regulation
Article 33 – paragraph 1 – point a
(a) withdraw the authorisation of the ESG rating provider, making public the reasons for the withdrawal;
2023/10/25
Committee: ECON
Amendment 107 #

2023/0167(COD)

Proposal for a directive
Recital 3
(3) Third party payments, such as fees, commissions or any monetary or non-monetary benefits paid to or received by investment firms and insurance undertakings and intermediaries by or from persons other than the client or customer, also termed as ‘inducements’, play a significant role in the distribution of retail investment products in the Union. The existing rules designed to manage conflicts of interests in Directives (EU) 2014/65 and (EU) 2016/97, including restrictions on and transparency around the payments of inducements, have not proven sufficiently effective in mitigating consumer detriment and have led to different levels of retail investor protection across product segments and distribution channels. It is therefore necessary to further strengthen the investor protection framework to ensure that retail clients’ best interests are protected uniformly across the Union. In light of the potential disruptive impact caused by the introduction of a full prohibition of inducements, it is appropriate to have a staged approach and first strengthen the requirements around the payment and receipt of inducements to address the potential conflicts of interest and ensure better protection of retail investors and, at a second stage, to review the effectiveness of the framework, and propose alternative measures in line with Better Regulation rules, including a potential ban on inducements, if appropriate.deleted
2023/11/09
Committee: ECON
Amendment 113 #

2023/0167(COD)

Proposal for a directive
Recital 4
(4) In order to remove any consumer detriment as a consequence of the payment and receipt of inducements for non-advised sales, it is appropriate to prohibit the payment and receipt of such inducements. In the case of Directive (EU) 2014/65, such prohibition would cover the execution or reception and transmission of orders and in the case of Directive (EU) 2016/97, non-advised sales. To avoid restricting issuers’ ability to raise funding, that prohibition should not apply to payments in relation to underwriting and placement services provided to an issuer, where the investment firm also provides an execution of order or reception and transmission of order service to an end- investor. Furthermore, investment advice is often combined with the provision of an execution or reception and transmission of order service. In such cases, the main service being investment advice, the prohibition should not apply to the execution or reception and transmission of order service relating to one or more transactions of that client covered by that advice. Minor non-monetary benefits which do not exceed 100 euros or are of a scale and nature that they could not be judged to impair compliance with the duty to act in the best interest of the retail investor should be allowed, to the extent that they are clearly disclosed.deleted
2023/11/09
Committee: ECON
Amendment 120 #

2023/0167(COD)

Proposal for a directive
Recital 6
(6) The existing safeguards conditioning the payment or receipt of inducements, which under Directive (EU) 2014/65/EU require that the inducement is designed to enhance the quality of the service to the client, or under Directive (EU) 2016/97 should not have a detrimental effect on the quality of the service to the customer, have not been sufficiently effective in mitigating conflicts of interest. It is therefore appropriateosed to remove those criteria and introduce a new, common test, both in Directive (EU) 2014/65/EU and Directive (EU) 2016/97, that further clarifies how financial advisors should apply the principle of acting in the best interest of the client. Financial advisors should base their advice on an appropriate range of financial products. After having identified suitable instruments for their clients, they should recommend the most cost-efficient of similar products to their clients. Furthermore, financial advisors should also systematically recommend at least one product without features that may not be necessary for the achievement of the client’s investment objective, so that retail investors are presented also with alternative and possibly cheaper options to consider. Such features may include, as an example, funds with an investment strategy which implies higher costs, a capital guarantee and structured products with hedging elements. If advisors choose to also recommend a product that carries additional features which carry extra costs to the client or customer, they should explicitly provide the reason for such a recommendation and disclose the extra costs incurred. In the case of insurance-based investment products, advisors should also ensure that the insurance cover included in the product is consistent with the customer’s insurance demands and needs.
2023/11/09
Committee: ECON
Amendment 131 #

2023/0167(COD)

Proposal for a directive
Recital 9
(9) In order to assess the effectiveness of these measures, threeseven years after the date of entry into forceend of the transposition period of this Directive and after having consulted the European Securities and Markets Authority (‘ESMA’) and the European Insurance and Occupational Pensions Authority (‘EIOPA’), the Commission should prepare a report on the effects of third-party payments on retail investments which, where necessary, should be accompanied by proposals to further strengthen the framework.
2023/11/09
Committee: ECON
Amendment 141 #

2023/0167(COD)

Proposal for a directive
Recital 13
(13) To make the pricing process more objective and to equip manufacturers, distributors and competent authorities with a tool allowing for an efficient comparison of costs among investment products from the same product type, both ESMA and EIOPA should develop benchmarks, based on data related to the cost and performance of investment products, which should be taken into consideration by manufacturers and distributors in their pricing processes. If the result of the comparison with a relevant benchmark indicates that the costs and performance for investors are not aligned to the benchmark, the product should not be marketed to retail investors, unless additional testing and further assessments have established that the product nevertheless offers Value for Money to the target market, for example in the case of a product containing additional special features that would be considered relevant for a particular group of investors with identified specific needs and objectives, but which are not reflected in the description of the group of investment products for which the benchmark was developed.deleted
2023/11/09
Committee: ECON
Amendment 146 #

2023/0167(COD)

Proposal for a directive
Recital 15
(15) To enable ESMA and EIOPA to develop reliable benchmarks, based on reliable data, manufacturers and distributors of investment products should be required to report necessary data to competent authorities, for onward transmission to ESMA and EIOPA. To limit, to the greatest extent possible, costs related to the new reporting obligations and to avoid unnecessary duplication, data sets should as far as possible be based on disclosure and reporting obligations stemming from EU law. ESMA and EIOPA should develop regulatory technical standards to determine the data sets, data standards and methods and formats for the information to be reported.deleted
2023/11/09
Committee: ECON
Amendment 152 #

2023/0167(COD)

Proposal for a directive
Recital 17
(17) In view of the extent of diversity of retail investment product offerings, the development of benchmarks by ESMA and EIOPA should be an evolutionary process, beginning with the investment products most commonly purchased by retail investors and progressively building on the experience gathered over time in order to broaden coverage and refine their quality.deleted
2023/11/09
Committee: ECON
Amendment 160 #

2023/0167(COD)

Proposal for a directive
Recital 20
(20) The pricing process under Directives 2009/65/EC and 2011/61/EU should ensure that costs borne by retail investors are justified and proportionate to the characteristics of the product, and in particular to the investment objective and strategy, level of risk and expected returns of the funds, so that UCITS and AIFs deliver Value for Money to investors. UCITS and AIFs management companies should remain responsible for the quality of their pricing process. In particular, they should ensure that costs are comparable to market standards, including by comparing the costs of funds with similar investment strategies and characteristics available on publicly available databases. However, to make the pricing process more objective and to equip UCITS and AIFs management companies, and competent authorities with a tool allowing for an efficient comparison of costs among investment products from the same product type, ESMA should develop benchmarks, based on data related to the cost and performance of investment products that ESMA receives as part of the supervisory reporting, against which an assessment of Value for Money can be carried out, in addition to the other criteria included in the pricing process of UCITS and AIFs management companies. Considering the Commission’s priority to avoid unnecessary administrative burdens and to simplify reporting requirements, those benchmarks should build on existing data from public disclosures and supervisory reporting, unless additional data are exceptionally necessary. Investment funds offering poor Value for Money or deviating from ESMA's benchmarks should not be marketed to retail investors unless further assessment has established that the product nevertheless offers Value for Money. The assessment and the measures taken should be documented and provided to competent authorities upon their request.
2023/11/09
Committee: ECON
Amendment 178 #

2023/0167(COD)

Proposal for a directive
Recital 34
(34) To ensure that, in the context of advised services, due consideration is given to portfolio diversification, financial advisors should be systematically required to consider the needs of such diversification for their clients or customers, as part of the suitability assessments, including on the basis of information provided by those clients or customers on their existing portfolio of financial and non-financial assets.
2023/11/09
Committee: ECON
Amendment 187 #

2023/0167(COD)

Proposal for a directive
Recital 37 a (new)
(37a) Financial literacy is of key importance in addressing the current deficiencies in the Capital Markets Union. Trust in Union financial markets is linked intrinsically to the level of retail participation in them. Education and knowledge are tools to empower each citizen to make informed investment decisions. This Directive should lay the ground for increasing the level of financial education in each Member State. In view of the limited competences conferred upon the Union in that area, it is the responsibility of each Member State to ensure that proper adjustments are made, particularly in their education systems, to comply with this Directive. Member States should take ambitious steps to fulfil the obligations laid down in this Directive.
2023/11/09
Committee: ECON
Amendment 191 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2014/65/EU
Article 4 – paragraph 1 – point 48 a (new)
(48a) ‘existing financial assets’ means financial instruments, structured deposits, insurance based investment products, portfolio management;
2023/11/09
Committee: ECON
Amendment 235 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 1 – point e
(e) in relation to financial instruments falling under the definition of packaged retail investment products in accordance with Article 4(1) of Regulation (EU) No 1286/2014 of the European Parliament and of the Council*, a clear identification and quantification of all costs and charges related to the financial instrument and an assessment of whether those costs and charges are justified and proportionate, having regard to the characteristics, objectives and, if relevant, strategy of the financial instrument, and its performance and the quality and level of the service provided to the client by distributors (‘pricing process’).
2023/11/09
Committee: ECON
Amendment 241 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 1 – subparagraph 3
The pricing process referred to in point (e) shall include a comparison with the relevant benchmark, where available, on costs and performance published by ESMA in accordance with paragraph 9.deleted
2023/11/09
Committee: ECON
Amendment 257 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 1 – subparagraph 4
When a financial instrument deviates from the relevant benchmark referred to in paragraph 9, the investment firm shall perform additional testing and further assessments and establish whether costs and charges are nevertheless justified and proportionate. If justification and proportionality of costs and charges cannot be demonstrated, the financial instrument shall not be approved by the investment firm.deleted
2023/11/09
Committee: ECON
Amendment 287 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
(a) identify and quantify the costs of distribution and any further costs and charges related to the distribution not already taken into account by the manufacturer;
2023/11/09
Committee: ECON
Amendment 294 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
(b) assess whether the total costs and charges referred to the point (a) are justified and proportionate, having regard to the target market’s objectives and needs and to the quality and level of the service provided to the client (pricing process).
2023/11/09
Committee: ECON
Amendment 299 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 4 – subparagraph 3
The pricing process, as referred to in points (a) and (b), shall include a comparison with the relevant benchmark, when available, on costs and performance published by ESMA in accordance with paragraph 9.deleted
2023/11/09
Committee: ECON
Amendment 306 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 4 – subparagraph 4
When a financial instrument, together with costs of services incurred by the client in order to purchase that instrument, deviates from the relevant benchmark referred to in paragraph 9, the investment firm which offers or recommends a financial instrument shall perform additional testing and further assessments and establish whether costs and charges are nevertheless justified and proportionate. If justification and proportionality of costs and charges cannot be demonstrated, the financial instrument shall not be offered or recommended by the investment firm.deleted
2023/11/09
Committee: ECON
Amendment 317 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 5 – subparagraph 1
An investment firm which offers or recommends financial instruments falling under the definition of packaged retail products in accordance with Article 4(1) of Regulation (EU) No 1286/2014 shall report to its home competent authorities details of the costs of distribution, including any costs related to the provision of advice or any connected third-party payments.
2023/11/09
Committee: ECON
Amendment 322 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 6
6. An investment firm which offers or recommends financial instruments falling under the definition of packaged retail products in accordance with Article 4(1) of Regulation (EU) No 1286/2014, manufactured by a manufacturer that is not subject to the reporting obligation laid down in paragraph 2 or any other equivalent reporting obligation, shall report to their home competent authorities the following: (a) financial instrument destined for retail investors, including any distribution costs that are incorporated into costs of financial instrument, including third- party payments; (b) financial instruments, in particular its performance and the level of risk. The competent authorities shall transmit such data without undue delay to ESMA.deleted details of costs and charges of any data on the characteristics of the
2023/11/09
Committee: ECON
Amendment 338 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 7 – point a
(a) where relevant, the results of the comparison of the financial instrument to the relevant benchmark;deleted
2023/11/09
Committee: ECON
Amendment 343 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 7 – point b
(b) where applicable, the reasons justifying a deviation from the benchmark;deleted
2023/11/09
Committee: ECON
Amendment 346 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 7 – point c
(c) related to the justification and demonstration of the proportionality of costs and charges of the financial instrument and of the costs of distribution.
2023/11/09
Committee: ECON
Amendment 350 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 9
9. After having consulted EIOPA and the competent authorities, ESMA shall, where appropriate, develop and make publicly available common benchmarks for financial instruments that present similar levels of performance, risk, strategy, objectives, or other characteristics, to help investment firms to perform the comparative assessment of the cost and performance of financial instruments, falling under the definition of packaged retail investment products, both at the manufacturing and distribution stages. The benchmarks shall display a range of costs and performance, in order to facilitate identification of financial instruments whose costs and performance depart significantly from the average. The costs used for the development of benchmarks for investment firms manufacturing financial instruments shall, in addition to the total product cost, allow comparison to individual cost components. The costs used for the development of benchmarks for distributors shall, in addition to the total cost of the product, refer to the distribution cost. ESMA shall regularly update the benchmarks.deleted
2023/11/09
Committee: ECON
Amendment 365 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 11
11. The Commission is empowered to supplement this Directive by adopting delegated acts in accordance with Article 89 to specify the following: (a) the methodology used by ESMA to develop benchmarks referred to in paragraph 9; (b) the criteria to determine whether costs and charges are justified and proportionate.
2023/11/09
Committee: ECON
Amendment 380 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 12 – subparagraph 1 – introductory part
ESMA, after having consulted EIOPA and the competent authorities and taking into consideration the methodology referred to in paragraph 11, point (a), shall develop draft regulatory technical standards specifying the following:
2023/11/09
Committee: ECON
Amendment 382 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 12 – subparagraph 1 – point a
(a) the content and type of data and details of costs and charges to be reported to the competent authorities in accordance with paragraph 2, 5 and 65, based on disclosure and reporting obligations, unless additional data is exceptionally necessary;
2023/11/09
Committee: ECON
Amendment 388 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 12 – subparagraph 1 – point b
(b) the data standards and formats, methods and arrangements, frequency and starting date for the information to be reported in accordance paragraph 2, 5 and 65.
2023/11/09
Committee: ECON
Amendment 393 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 12 – subparagraph 2
ESMA shall submit those draft regulatory technical standards to the Commission by [18 months] after adoption of the delegated act referred to in paragraph 11the date of entry into force of this Directive].
2023/11/09
Committee: ECON
Amendment 405 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 12 – point b
Directive 2014/65/EU
Article 24 – paragraph 1 a
1a. Member States shall ensure that, in order to act in the best interest of the client, when providing investment advice to retail clients, investment firms are under the obligation of the following: (a) to provide advice on the basis of an assessment of an appropriate range of financial instruments; (b) efficient financial instruments among financial instruments identified as suitable to the client pursuant to Article 25(2) and offering similar features; (c) financial instruments identified as suitable to the client pursuant to Article 25(2), a product or products without additional features that are not necessary to the achievement of the client’s investment objectives and that give rise to extra costs.;deleted to recommend the most cost- to recommend, among the range of
2023/11/09
Committee: ECON
Amendment 432 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 12 – point b
Directive 2014/65/EU
Article 24 – paragraph 1 a a (new)
1aa. The cost efficiency referred to in the first subparagraph, point (b), shall be determined on the basis of the investment firm’s assessment of the instrument’s net return expectations taking into account all implicit and explicit costs and charges.
2023/11/09
Committee: ECON
Amendment 475 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24a – paragraph 1
1. Member States shall ensure that investment firms, when providing portfolio management, do not pay or receive anyaccept and retain fee ors, commission, or provide or are provided with any non-monetary benefit, in connection with the provision of such service, tos or any monetary or non-monetary benefits paid or provided by any third party or a person acting orn by any party except the client or a person on behalf of theehalf of a third party in relation to the provision of the service to clients.
2023/11/09
Committee: ECON
Amendment 482 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24a – paragraph 2
2. Member States shall ensure that investment firms, when providing reception and transmission of orders or execution of orders to or on behalf of retail clients, do not pay or receive any fee or commission, or provide or are provided with any non-monetary benefit in connection with the provision of such services, to or from any third-party responsible for the creation, development, issuance or design of any financial instrument on which the firm provides such execution or reception and transmission services, or any person acting on behalf of that third-party.deleted
2023/11/09
Committee: ECON
Amendment 497 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24a – paragraph 3
3. Paragraph 2 shall not apply to investment firms, when providing investment advice on a non-independent basis relating to one or more transactions of that client covered by that advice.deleted
2023/11/09
Committee: ECON
Amendment 501 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24a – paragraph 4
4. Paragraph 2 shall not apply to fees or any other remuneration received from or paid to an issuer by an investment firm performing for that issuer one of the services referred to in Annex I, Section A, points 6 and 7, where the investment firm also provides to retail clients any of the investment services referred to in paragraph 2 and relating to the financial instruments subject to the placing or underwriting services. This paragraph shall not apply to financial instruments that are packaged retail investment products as referred to Article 4, point (1), of Regulation (EU) No 1286/2014.deleted
2023/11/09
Committee: ECON
Amendment 517 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24a – paragraph 5
5. Paragraphs 1 and 2 shall not apply to the minor non-monetary benefits of a total value below EUR 100 per annum or of a scale and nature such that they could not be judged to impair compliance with the investment firm’s duty to act in the best interest of the client, provided that they have been clearly disclosed to the client.
2023/11/09
Committee: ECON
Amendment 528 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24a – paragraph 8
8. Three years after the date of entry into force of Directive (EU) [OP Please introduce the number of the amending Directive] and after having consulted ESMA and EIOPA, the Commission shall assess the effects of third-party payments on retail investors, in particular in view of potential conflicts of interest and as regards the availability of independent advice, and shall evaluate the impact of the relevant provisions of Directive (EU) [OP Please introduce the number of the amending Directive] on it. If necessary to prevent consumer detriment, the Commission shall propose legislative amendments to the European Parliament and the Council.deleted
2023/11/09
Committee: ECON
Amendment 563 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24b – paragraph 1 – subparagraph 6
Investment firms providing investment services to professional clients shall have the right to agree to a limited application of the detailed requirements set out in this paragraph, with such clients. Investment firms shall not be allowed to agree such limitations when the services of investment advice or portfolio managemThe requirements set out in this paragraph shall not apply to services provided to professional clients are provided or when, irrespective of thend eligible counterparties except for investment seradvice provided, the financial instruments concerned embed a derivativeand portfolio management.
2023/11/09
Committee: ECON
Amendment 567 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24b – paragraph 1 – subparagraph 7
Investment firms providing investment services to eligible counterparties shall have the right to agree to a limited application of the detailed requirements set out in this paragraph, except when, irrespective of the investment service provided, the financial instruments concerned embed a derivative and the eligible counterparty intends to offer them to its clients.deleted
2023/11/09
Committee: ECON
Amendment 577 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24b – paragraph 4 – subparagraph 1 – introductory part
Without prejudice to other requirements associated to portfolio management services, when providing any investment service to a retail client together with a service of safekeeping and administration of financial instruments for the account of the retail client, the investment firm shall, in connection with those instruments, provide its retail client with an annual statement withInvestment firms shall provide retail clients with an annual statement reporting all costs, associated charges and third- party payments related to financial instruments, investment services and ancillary services. The annual statement related to portfolio management shall be done separately. The annual statement shall disclose to retail clients the following information expressed in monetary terms and percentages:
2023/11/09
Committee: ECON
Amendment 578 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24b – paragraph 4 – subparagraph 1 – point b
(b) the total amount of dividends, interest and other payments received annually by the retail client for the total portfolio;deleted
2023/11/09
Committee: ECON
Amendment 581 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24b – paragraph 4 – subparagraph 1 – point c
(c) the total taxes, including any stamp duty, and transactions tax, withholding tax and any other taxes where levied by the investment firm, borne by the retail client for the total portfolio;
2023/11/09
Committee: ECON
Amendment 582 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24b – paragraph 4 – subparagraph 1 – point d
(d) the annual market value, or estimated value, when the market value is not available, of each financial instrument included in the retail client’s portfolio;deleted
2023/11/09
Committee: ECON
Amendment 584 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24b – paragraph 4 – subparagraph 1 – point e
(e) the net annual performance of the portfolio of the retail client and the annual performance of each of the financial instruments included in this portfolio.
2023/11/09
Committee: ECON
Amendment 586 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24b – paragraph 4 – subparagraph 2
Where providing an investment service without a service of safekeeping and administration of financial instruments for the account of the retail client, the investment firm shall provide an annual statement including applicable information on point (a).deleted
2023/11/09
Committee: ECON
Amendment 587 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24b – paragraph 4 – subparagraph 3
Where providing exclusively a service of safekeeping and administration of financial instruments for the account of the retail client, the investment firm shall provide an annual statement including applicable information on point (a), (b), (c) and (d).deleted
2023/11/09
Committee: ECON
Amendment 589 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24b – paragraph 4 – subparagraph 4
Upon its request, the retail client shall be entitled to receive each year a detailed breakdown of the information referred to under point (a) to (c) above per financial instrument owned during the relevant period as well as for each tax borne by the retail clientand (b) above.
2023/11/09
Committee: ECON
Amendment 598 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24c – paragraph 2 – subparagraph 1
Member States shall ensure that marketing communications are developed, designed and provided in a manner that is fair, clear, not misleading, balanced in terms of presentation of benefits and risks, and appropriate in terms of content and distribution channels for the target audience and where related to a specific financial instrument to the target market identified pursuant to Article 24(2).
2023/11/09
Committee: ECON
Amendment 603 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24c – paragraph 2 – subparagraph 2
AllTaking into account the nature and characteristics of the media used marketing communications shall present in a prominent and concise way, the essential characteristics of the financial instruments or the investment services and related ancillary services to which they refer.
2023/11/09
Committee: ECON
Amendment 605 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24c – paragraph 2 – subparagraph 3
Taking into account the nature and characteristics of the media used, the presentation of the essential characteristics of the financial instruments and services included in the marketing communications provided or made accessible to retail or potential retail clients, shall ensure that they can easily understand the key features of the financial instruments or services as well as the main risks associated with them.
2023/11/09
Committee: ECON
Amendment 613 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24c – paragraph 4 – subparagraph 2
Where an investment firm that offers or recommends financial instruments which it does not manufacture, organises its own marketing communication, it shall be fully responsible for its appropriate content, update and use, in line with the identified target market and in particular in line with the identified client categorisation.
2023/11/09
Committee: ECON
Amendment 614 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24c – paragraph 5
5. Member States shall ensure, investment firms make annual reports to the firm’s management body on the use of marketing communications and strategies aimed at marketing practices, the compliance with relevant obligations on marketing communications and practices under this Directive and on any signalled irregularities and proposed solutions.deleted
2023/11/09
Committee: ECON
Amendment 623 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24c – paragraph 8 – point a
(a) the essential characteristics of financial instrument(s) or investment and ancillary service(s) to be disclosed in all marketing communications targeting retail clients or potential retail clients and any other relevant criteria to ensure that taking into account the nature and characteristics of the media used those essential characteristics appear in a prominent way and are easily accessible by an average retail client, regardless of the means of communication;
2023/11/09
Committee: ECON
Amendment 639 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 14 – point a
Directive 2014/65/EU
Article 25 – paragraph 2 – subparagraph 1
Subject to the second subparagraph, when providing investment advice or portfolio management services, the investment firm shall obtain the necessary information regarding the client or potential client’s knowledge and experience in the investment field relevant to the specific type of product or service, that client’s financial situation, including the composition of any existing portfolios,existing financial assets belonging to the same portfolio for which the investment firm performs the suitability assessment according to the related agreement with the client, and its ability to bear full or partial losses, investment needs and objectives including sustainability preferences, if any, and risk tolerance, so as to enable the investment firm to recommend to the client or potential client the investment services or financial instruments that are suitable for that person, and, in particular, are in accordance with its risk tolerance, ability to bear losses and need for portfolio diversification.
2023/11/09
Committee: ECON
Amendment 647 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 14 – point a
Directive 2014/65/EU
Article 25 – paragraph 2 – subparagraph 2
When providing independent investment advice and portfolio management to retail clients restricted to well- diversified, and non- complex, and cost- efficient financial instruments, the independvestment firm shall be under no obligation to obtain information on the retail client or potential retail client’s knowledge and experience about the considered financial instruments or investment services or on the retail client’s existing portfolio composition.
2023/11/09
Committee: ECON
Amendment 651 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 14 – point a
Directive 2014/65/EU
Article 25 – paragraph 3 – subparagraph 1
Member States shall ensure that investment firms, when providing investment services other than those referred to in paragraph 2, ask the client or potential client to provide information regarding theirits knowledge and experience in the investment field relevant to the specific type of product or service offered or demanded, and for the retail client or potential retail client, the capacity to bear full or partial losses and risks tolerance so as to enable the investment firm to assess whether the investment service(s) or financial instrument(s) envisaged is appropriate for the client.
2023/11/09
Committee: ECON
Amendment 670 #

2023/0167(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 16
Directive 2014/65/EU
Article 35 a – paragraph 1 – subparagraph 1– introductory part
Member States shall require that investment firms and credit institutions providing investment services or activities report the following information annually to the competent authority of its home Member State when they provide investment services to more than 150 retail clients on a cross-border basis:
2023/11/09
Committee: ECON
Amendment 739 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 1 – subparagraph 2 – point f
(f) in relation to insurance-based investment products, a clear identification and quantification of all costs and charges related to the product and an assessment of whether these costs and charges are justified and proportionate, having regard to the characteristics, objectives, strategy and, performance of the product and the quality and level of the service provided to the client by distributors, as well as the guarantees and insurance coverage of biometric and other risks (pricing process) as well as any other related service (pricing process);
2023/11/09
Committee: ECON
Amendment 750 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 1 – subparagraph 3
The pricing process referred to in point (f) shall contain a comparison with the relevant benchmark, where available, on costs and performance published by EIOPA in accordance with paragraph 8.deleted
2023/11/09
Committee: ECON
Amendment 762 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 2
2. When an insurance-based investment product which deviates from the relevant benchmark referred to in paragraph 8, the manufacturer shall perform additional testing and further assessments and establish whether costs and charges are nevertheless justified and proportionate. If justification and proportionality of costs and charges cannot be demonstrated, the insurance- based investment product shall not be approved by the manufacturer. Where no relevant benchmark exists for an insurance-based investment product, a manufacturer shall approve the product only if it has established through product testing and assessments that the costs and charges are justified and proportionate and that the product meets the target market’s objectives and needs.deleted
2023/11/09
Committee: ECON
Amendment 777 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 5 – subparagraph 2 – point b
(b) identify and quantify any further costs and charges, in particular distribution costs, that are related to the distribution not already taken into account in the calculation of total costs and charges by the manufacturer;
2023/11/09
Committee: ECON
Amendment 781 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 5 – subparagraph 2 – point c
(c) assess whether the total costs and charges are justified and proportionate, having regard to the target market’s objectives and needs and to the quality and level of the service provided to the client (pricing process).
2023/11/09
Committee: ECON
Amendment 787 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 5 – subparagraph 3
The pricing process referred to in point (c) shall include, where available, a comparison with the relevant benchmark on costs and performance published by EIOPA in accordance with paragraph 8.deleted
2023/11/09
Committee: ECON
Amendment 793 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 6
6. When an insurance-based investment product deviates from the relevant benchmark referred to in paragraph 8, the insurance intermediary or insurance undertaking distributing insurance-based investment products shall perform additional testing and further assessments and establish whether costs and charges are nevertheless justified and proportionate. If justification and proportionality of costs and charges cannot be demonstrated, the insurance intermediary or insurance undertaking shall not advise on or propose the insurance-based investment product to retail customers. Where no relevant benchmark exists for an insurance-based investment product, distributors shall only advise on or propose the product, if they have established through product testing and assessments that the costs and charges are justified and proportionate and that the product meets the target market’s objectives and needs.deleted
2023/11/09
Committee: ECON
Amendment 805 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 7 – point a
(a) where relevant, the results of the comparison of the insurance-based investment product to the relevant benchmarks,deleted
2023/11/09
Committee: ECON
Amendment 806 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 7 – point b
(b) where applicable, the reasons justifying a deviation from the benchmarkdeleted
2023/11/09
Committee: ECON
Amendment 808 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 7 – point c
(c) related to the justification and demonstration of the proportionality of costs and charges of the insurance-based investment product and of the costs of distribution.
2023/11/09
Committee: ECON
Amendment 811 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 8
8. EIOPA, after having consulted ESMA and the competent authorities, shall, where appropriate, develop and make publicly available common benchmarks for insurance-based investment products that present similar levels of performance, risk, strategy, objectives, or other characteristics to help insurance undertakings and insurance intermediaries manufacturing or distributing insurance-based investment products to perform the comparative assessment of the cost and performance of insurance-based investment products. The benchmarks shall display a range of costs and performance, in order to facilitate the identification of insurance- based investment products whose costs and performance depart significantly from the average. The costs used for the development of benchmarks shall, in addition to the total product cost, also include all costs of distribution, inclusive inducements. They shall allow comparison with individual cost components. EIOPA shall regularly update those benchmarks.deleted
2023/11/09
Committee: ECON
Amendment 832 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 9
9. The Commission shall be empowered to supplement this Directive by adopting delegated acts in accordance with Article 38 to further specify the principles set out in this Article, including, with regard to insurance-based investment products, (a) EIOPA to develop the benchmarks referred to in paragraph 8; (b) costs and charges are justified and proportionate; Those delegated acts shall take into account in a proportionate way the activities performed, the nature of the insurance products sold and the nature of the distributor.deleted the methodology to be used by the criteria to determine whether
2023/11/09
Committee: ECON
Amendment 836 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 9 – subparagraph 1 – point a
(a) the methodology to be used by EIOPA to develop the benchmarks referred to in paragraph 8;deleted
2023/11/09
Committee: ECON
Amendment 842 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 10 – subparagraph 1 – introductory part
EIOPA, after having consulted ESMA and the competent authorities and after industry testing, and taking into consideration the methodology referred to in paragraph 9, point (a), shall develop draft regulatory technical standards to determine the following:
2023/11/09
Committee: ECON
Amendment 845 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 10 – subparagraph 2
EIOPA shall submit those draft regulatory technical standards to the Commission by ... [9 months after the adoption of the delegated act referred to in paragraph 2date of entry into force of this Directive].
2023/11/09
Committee: ECON
Amendment 852 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 18
Directive (EU) 2016/97
Article 26 a – paragraph 2 – subparagraph 1
Member States shall ensure that marketing communications of insurance-based investment products are developed, designed and provided in a manner that is fair, clear, not misleading, balanced in terms of presentation of benefits and risks, and appropriate in terms of content and distribution channels for the target audience and where related to a specific insurance-based investment product to the target market identified pursuant to Article 25(1).
2023/11/09
Committee: ECON
Amendment 859 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 18
Directive (EU) 2016/97
Article 26 a – paragraph 4 – subparagraph 1
Where a manufacturer of an insurance- based investment product prepares and provides a marketing communication to be used by a distributor, the manufacturer shall be responsible for the content of such marketing communication and its update. The distributor shall be responsible for the use of this marketing communication and shall ensure that it is used for the identified target market only and in line with the distribution strategy identified for that target market.
2023/11/09
Committee: ECON
Amendment 861 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 18
Directive (EU) 2016/97
Article 26 a – paragraph 5
5. Member States shall ensure that insurance undertakings and insurance intermediaries make annual reports to their management body on the, each to the extent of their competences, assess the correct use of marketing communications and strategies aimed at marketing practices, as well as the compliance with relevant obligations on marketing communications and practices under this Directive and on any signalled irregularities and proposed solutionsadopt suitable measures to overcome.
2023/11/09
Committee: ECON
Amendment 866 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 18
Directive (EU) 2016/97
Article 26 a – paragraph 7 – subparagraph 2
Such records shall be kept for a period of five years and, where requested by the competent authority, for amaximum period of up to sefiven years. Those records shall be retrievable by the insurance undertaking or insurance distributor upon request by the competent authority.
2023/11/09
Committee: ECON
Amendment 873 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 20
Directive (EU) 2016/97
Article 29 – paragraph 1 – subparagraph 1 – introductory part
Without prejudice to Article 18 and Article 19(1) and (2), Member States shall ensure that insurance intermediaries and insurance undertakings distributing insurance-based investment products provide customers in good time before the customers are bound by an insurance contract or offer, with appropriate information in personalised form about the insurance-based investment products proposed to those customers. That information shall contain all of the following:
2023/11/09
Committee: ECON
Amendment 883 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 20
Directive (EU) 2016/97
Article 29 – paragraph 1 – point a – subpoint v
(v) how the recommended insurance- based investment products take into account the diversification of the customer’s portfolio, in case the customer provided the relative information;
2023/11/09
Committee: ECON
Amendment 898 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 20
Directive (EU) 2016/97
Article 29 – paragraph 1 –subparagraph 3
Member States shall ensure that insurance intermediaries and insurance undertakings present the information on all costs, charges and third-party payments referred to in the first subparagraph, point (d) in aggregated form to enable the customer to understand the overall cost and the cumulative effect on the return of the investment. The overall cost shall be expressed in monetary terms andor percentages calculated over the termcontractual or recommended holding period of the insurance-based investment product or, if it is not possible, the method to establish them. Where the customer so requests, insurance intermediaries and insurance undertakings shall provide an itemised breakdown of that information, if available.
2023/11/09
Committee: ECON
Amendment 903 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 20
Directive (EU) 2016/97
Article 29 – paragraph 1 – subparagraph 4
The third-party payments paid or received by the insurance intermediary or insurance undertaking in connection with the provision or distribution of the insurance- based investment product shall be itemised separately. The insurance intermediary or insurance undertaking shall disclose the cumulative impact of such third-party payments, including any recurring third- party payments, on the net return over the term of the insurance-based investment product. The purpose of the third-party payments and their impact on the net return shall be explained in a standardised way and in a comprehensible language for an average retail customer, if available.
2023/11/09
Committee: ECON
Amendment 920 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 20
Directive (EU) 2016/97
Article 29 – paragraph 3 – point f
(f) adjusted individual projections of the expected outcome at the end of the contractual or recommended holding period, based on the current value of the investment and its performance development so far and linked to the pre- contractual performance scenarios in the key information document provided for in Regulation No 1286/2014, and a disclaimer that those projections may differ from the actual final value of the investment;deleted
2023/11/09
Committee: ECON
Amendment 939 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 21
Directive (EU) 2016/97
Article 29 a – paragraph 1
1. Member States shall ensure that insurance intermediaries or insurance undertakings that manufacture insurance-based investment products or distribute such products in accordance with Article 30(2) and (3) do not pay or receive any fee or commission, or provide or are provided with any non-monetary benefit with regard to the provision or distribution of an insurance based investment product, to or by any party except the customer or a person on behalf of the customer. The prohibition contained in the first sub- paragraph shall not apply to minor non- monetary benefits of a total value below EUR 100 per annum or of a scale and nature such that those benefits do not impair compliance with the insurance intermediary’s or insurance undertaking’s duty to act in the best interests of their customer provided those benefits have been clearly disclosed to the customer. Any payment or benefit which enables or is necessary for the provision of services, including regulatory levies or legal fees, and which by its nature cannot give rise to conflicts with the insurance intermediary’s or insurance undertaking’s duty to act honestly, fairly and professionally in accordance with the best interests of their customers, shall not be subject to the requirements set out in the first subparagraph.deleted
2023/11/09
Committee: ECON
Amendment 958 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 21
Directive (EU) 2016/97
Article 29 a – paragraph 4 – subparagraph 1
Member States may impose stricter requirements on insurance intermediaries and insurance undertakings in respect of the matters covered by this Article. In particular, Member States may additionally prohibit or further restrict the offer or acceptance of fees, commissions or non- monetary benefits from third parties in relation to the provision of insurance advice.
2023/11/09
Committee: ECON
Amendment 969 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 21
Directive (EU) 2016/97
Article 29 a – paragraph 6
6. Three years after the date of entry into force of Directive (EU) [OP Please introduce the number of the amending Directive] and after having consulted ESMA and EIOPA, the Commission shall assess the effects of third-party payments on retail investors, in particular in view of potential conflicts of interest and as regards the availability of independent advice, and shall evaluate the impact of the relevant provisions of Directive (EU) [OP Please introduce the number of the amending Directive] on retail investors. If necessary to prevent consumer detriment, the Commission shall propose legislative amendments to the European Parliament and the Council.deleted
2023/11/09
Committee: ECON
Amendment 979 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 21
Directive (EU) 2016/97
Article 29 b – paragraph 1
1. Member States shall ensure that in order to act in the best interest of the customer in accordance with Article 17(1), when providing advice to customers on insurance-based investment products, insurance undertakings and insurance intermediaries are under the obligation: (a) to provide such advice on the basis of an assessment of an appropriate range of insurance-based investment products and, where applicable, underlying investment assets; (b) efficient insurance-based investment product and, where applicable, underlying investment assets among the insurance- based investment products identified as suitable for the customer pursuant to Article 30(1) and offering similar features; (c) insurance-based investment products identified as suitable for the customer pursuant to Article 30(1), one or several insurance-based investment products and, where applicable, underlying investment assets, a product or products, without additional features that are not necessary to the achievement of the customer’s objectives and that give rise to extra costs; (d) investment products which insurance cover is consistent with the customer’s insurance demands and needs.deleted to recommend the most cost- to recommend, among the range of to recommend an insurance-based
2023/11/09
Committee: ECON
Amendment 1013 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 21
Directive (EU) 2016/97
Article 29 b – paragraph 2
2. The Commission shall be empowered to supplement this Directive by adopting delegated acts in accordance with Article 38 to further specify how insurance intermediaries and insurance undertakings are to comply with the principles set out in this Article. Those delegated acts shall take into account the nature of the services offered or provided to the customer, the nature of the products being offered or considered, including different types of insurance- based investment products.;
2023/11/09
Committee: ECON
Amendment 1021 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 22 – point b
Directive (EU) 2016/97
Article 30 – paragraph 1 – subparagraph 1
Without prejudice to Article 20(1), when providing advice on insurance-based investment products, the insurance intermediary or insurance undertaking shall, obtain the information regarding the customer’s knowledge and experience in the investment field relevant to the specific type of insurance-based investment product or, where applicable, underlying investment assetoptions, offered or demanded, that customer’s financial situation, including, if provided for by the customer, the composition of any existing portfolios, its ability to bear full or partial losses, investment needs and objectives, including any sustainability preferences, and risk tolerance, so as to enable the insurance intermediary or the insurance undertaking to recommend to the customer the insurance-based investment products that are suitable for that person and that, in particular, are in accordance with its risk tolerance, ability to bear losses and, if the customer provides the relevant information, need for portfolio diversification.
2023/11/09
Committee: ECON
Amendment 1033 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 22 – point b
Directive (EU) 2016/97
Article 30 – paragraph 1 – subparagraph 2
When providing advice on an independent basis to retail customers restricted to well- diversified, non-complex, and cost- efficient insurance-based investment products, the insurance intermediary or insurance undertaking shall be under no obligation to obtain information on the customer’s knowledge and experience about the considered insurance-based investment products or on the customer’s portfolio composition.
2023/11/09
Committee: ECON
Amendment 1035 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 22 – point b
Directive (EU) 2016/97
Article 30 – paragraph 1 – subparagraph 3
When providing advice that involves switching between underlying investment assetoptions, insurance intermediaries and insurance undertakings shall obtain the necessary information on the customer’s existing underlying investment assetoptions and the recommended new investment assetoptions and shall analyse the expected costs and benefits of the switch, so that they are reasonably able to demonstrate that the benefits of switching are expected to be greater than the costs.
2023/11/09
Committee: ECON
Amendment 1039 #

2023/0167(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 22 – point b
Directive (EU) 2016/97
Article 30 – paragraph 2 – subparagraph 1
Without prejudice to Article 20(1), Member States shall ensure that, where no advice is given in relation to insurance- based investment products, the insurance intermediary or insurance undertaking shall ask the customer to provide information regarding that person’s knowledge and experience in the investment field relevant to the specific type of insurance-based investment product or, where applicable, underlying investment assets, offered or demanded and the person’s capacity to bear full or partial losses and risk tolerance so as to enable the insurance intermediary or the insurance undertaking to assess whether the insurance-based investment product or products envisaged are appropriate for the customer.
2023/11/09
Committee: ECON
Amendment 1065 #

2023/0167(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 1 – point a
Directive 2009/65/EC
Article 14 – paragraph 1 b – point b
(b) The costs are necessary for the UCITS to opeborne by retail investors are justified and proportionate, having regard to the characte in line with its investment strategy and objective or to fulfil regulatory requirementristics of the UCITS, including its investment objective, strategy, expected returns, level of risks, other relevant characteristics and the quality and level of the service provided to the client by distributors;
2023/11/09
Committee: ECON
Amendment 1078 #

2023/0167(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 1 – point a
Directive 2009/65/EC
Article 14 – paragraph 1 e – subparagraph 1
Member States shall require management companies to assess at least annually the conditions mentioned in paragraph 1b, point (b). The assessment shall take into account the criteria set out in the pricing process and include a comparison with the relevant benchmark on costs and performance published by ESMA in accordance with paragraph 1f.
2023/11/09
Committee: ECON
Amendment 1082 #

2023/0167(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 1 – point a
Directive 2009/65/EC
Article 14 – paragraph 1 e – subparagraph 2
When a UCITS or its share classes, when they have different cost structures, deviate from the relevant benchmark referred to in paragraph 1f, the management company shall perform additional testing and further assessments and establish whether costs and charges are nevertheless justified and proportionate. If justification and proportionality of costs and charges cannot be demonstrated or if the UCITS or its share classes do not comply with other criteria set out by the management company in the pricing process that UCITS or its share classes shall not be marketed to retail investors by the management company.deleted
2023/11/09
Committee: ECON
Amendment 1085 #

2023/0167(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 1 – point a
Directive 2009/65/EC
Article 14 – paragraph 1 f
1f. After consulting EIOPA and competent authorities, ESMA shall, where appropriate, develop and make publicly available benchmarks to enable the comparative assessment of costs and performance of UCITS, or their share classes where they have different cost structures, to be used for the assessment set out in paragraph 1e. Common benchmarks shall be developed, where it is feasible to do so, for UCITS, or their share classes where they have different cost structures, marketed to retail investors that present similar levels of performance, risk, strategy, objectives, or other characteristics. These benchmarks shall display a range of costs and performance, especially cases where costs and performance depart significantly from the average. These benchmarks shall be updated on a regular basis.;deleted
2023/11/09
Committee: ECON
Amendment 1098 #

2023/0167(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 1 – point b – point iii
Directive 2009/65/EC
Article 14 – paragraph 2 – point e
(e) provide for criteria to determine whether costs are justified and proportionate in accordance with paragraph 1b, point (b), and for taking corrective measures mentioned in paragraph 1e and specify the methodology used by ESMA to develop its benchmarks.;deleted
2023/11/09
Committee: ECON
Amendment 1113 #

2023/0167(COD)

Proposal for a directive
Article 5 – paragraph 1 – point 1 – point a
Directive 2011/61/EU
Article 12 – paragraph 1 b – point b
(b) the costs borne by retail investors are justified and proportionate, having regard to the characteristics of the AIF, including its investment objective, strategy, expected returns, level of risks and, other relevant characteristics and the quality and level of the service provided to the client by distributors.
2023/11/09
Committee: ECON
Amendment 1119 #

2023/0167(COD)

Proposal for a directive
Article 5 – paragraph 1 – point 1 – point a
Directive 2011/61/EU
Article 12 – paragraph 1 e – subparagraph 1
Member States shall require AIFMs to assess at least annually the conditions mentioned in paragraph 1b, point (b). The assessment shall take into account the criteria set out in the pricing process and, for AIFs marketed to retail investors, include a comparison with the relevant benchmark on costs and performance published by ESMA in accordance with paragraph 1f.deleted
2023/11/09
Committee: ECON
Amendment 1124 #

2023/0167(COD)

Proposal for a directive
Article 5 – paragraph 1 – point 1 – point a
Directive 2011/61/EU
Article 12 – paragraph 1 e – subparagraph 2
When an AIF or its share classes, when they have different cost structures, deviate from the relevant benchmark referred to in paragraph 1f, the AIFM shall perform additional testing and further assessments and establish whether costs and charges are nevertheless justified and proportionate. If justification and proportionality of costs and charges cannot be demonstrated, or if the AIF or its share classes do not comply with other criteria set out by the AIFM in the pricing process, that AIF or its share class shall not be marketed to retail investors by the AIFM.deleted
2023/11/09
Committee: ECON
Amendment 1127 #

2023/0167(COD)

Proposal for a directive
Article 5 – paragraph 1 – point 1 – point a
Directive 2011/61/EU
Article 12 – paragraph 1 f
1f. After having consulted EIOPA and competent authorities, ESMA shall, where appropriate, develop and make publicly available benchmarks to enable the comparative assessment of costs and performance of AIFs, or their share classes where they have different cost structures, to be used for the assessment set out in paragraph 1e. Common benchmarks shall be developed, where it is feasible to do so, for AIFs, or their share classes where they have different cost structures, marketed to retail investors that present similar levels of performance, risk, strategy, objectives, or other characteristics. These benchmarks shall display a range of costs and performance, especially cases where costs and performance depart significantly from the average. The benchmarks shall be updated on a regular basis.;deleted
2023/11/09
Committee: ECON
Amendment 1138 #

2023/0167(COD)

Proposal for a directive
Article 5 – paragraph 1 – point 1 – point b
(b) provide for criteria to determine whether costs are justified and proportionate in accordance with paragraph 1b, point (b) and for taking corrective measures mentioned in paragraph 1e and specify the methodology used by ESMA to develop its benchmarks.;deleted
2023/11/09
Committee: ECON
Amendment 1150 #

2023/0167(COD)

Proposal for a directive
Article 6 – paragraph 2
2. They shall apply those provisions from … [OP please insert the date = 18 months after the date of entry into force of this Directivepublication in the Official Journal of the European Union of the delegated acts referred to in Articles [•], [•].. and [•]].
2023/11/09
Committee: ECON
Amendment 1163 #

2023/0167(COD)

Proposal for a directive
Annex I – paragraph 1 – point 2 – subpoint 1
Directive 2014/65/EU
Annex II – Section II.1 – subparagraph 5 – second indent
- the size of the client’s financial instrument portfolio, defined as including cash deposits and financial instruments exceeds EUR 250 000 on average during the last 3 years,’;
2023/11/09
Committee: ECON
Amendment 1168 #

2023/0167(COD)

Proposal for a directive
Annex I – paragraph 1 – point 2 – subpoint 1 a (new)
Directive 2014/65/EU
Annex II – Section II.1 – subparagraph 5 – second indent (new)
- the client holds diversified portfolio on financial instruments including complex financial instruments;
2023/11/09
Committee: ECON
Amendment 1170 #

2023/0167(COD)

Proposal for a directive
Annex I – paragraph 1 – point 2 – subpoint 3
Directive 2014/65/EU
Annex II – Section II.1 – subparagraph 7
Where the client is a legal entity the investment firm shall assess the above requirements or alternatively, as a minimum, two of the following criteria shall be met:
2023/11/09
Committee: ECON
Amendment 22 #

2023/0166(COD)

Proposal for a regulation
Recital 2 a (new)
(2a) The purpose of this Regulation is to cover packaged products that are manufactured by the financial services industry in order to provide additional investment opportunities to retail investors. Non-equity securities issued by non-financial issuers contribute to the financing of corporate issuers and, where they are offered to retail investors, will be subject to the obligation to draw up a prospectus, which includes a summary, thus providing retail investors with adequate pre-contractual information. These securities should be excluded from the scope of this Regulation. The current requirement to produce, review and update a key information document for such non-equity securities, until their maturity, encourages issuers to restrict them to professional investors only, thus depriving retail investors of investment options. Addressing non-equity securities issued by non-financial issuers will therefore remove this incentive and might encourage retail investors’ participation in Union capital markets, while offering those retail investors with more opportunities to diversify their financial portfolios.
2023/11/07
Committee: ECON
Amendment 24 #

2023/0166(COD)

Proposal for a regulation
Recital 4
(4) Retail investors increasingly seek information on the sustainability performance of investment products, including PRIIPs. Recent Union legislative acts have introduced several disclosure obligations that could be leveraged to inform retail investors, in particular Regulation (EU) 2019/2088 of the European Parliament and of the Council13 and Regulation (EU) 2020/852 of the European Parliament and of the Council14 . Such disclosures may, however, not be sufficiently visible to retail investors. It is therefore necessary to add certain information about the sustainability profile of PRIIPs to the key information document. To avoid additional reporting costs, that ESG information should be taken from the disclosures provided by product manufacturers pursuant to Regulation (EU) 2019/2088 and Regulation (EU) 2020/852. __________________ 13 Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability- related disclosures in the financial services sector (OJ L 317, 9.12.2019, p. 1). 14 Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (OJ L 198, 22.6.2020, p. 13).deleted
2023/11/07
Committee: ECON
Amendment 27 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a a (new)
Regulation (EU) No 1286/2014
Article 2 – paragraph 2 – point d a (new)
(a a) the following point is inserted: ‘(da) non-equity securities which are issued by non-financial issuers and for which a prospectus is established pursuant to Regulation (EU) 2017/1129’;’
2023/11/07
Committee: ECON
Amendment 28 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b
Regulation (EU) No 1286/2014
Article 2 – paragraph 2 – point h
(b) the following point (h) is added: ‘(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;’;deleted
2023/11/07
Committee: ECON
Amendment 34 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 3 – point a a (new)
Regulation (EU) No 1286/2014
Article 4 – paragraph 1 – point 5
(5) ‘person selling a PRIIP’ means a person offeraa) point (5) is replaced by the following: "(5) ‘PRIIP distributor’ means a person advising on, offering, selling or concluding a PRIIP contract with a retail investor;"
2023/11/07
Committee: ECON
Amendment 35 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 3 – point b
Regulation (EU) No 1286/2014
Article 4 – paragraph 1 – point 7a
(7a) ‘electronic format’ means any durable medium other than paper;electronic format as defined in Article 4, point (62a), of Directive 2014/65/EU;
2023/11/07
Committee: ECON
Amendment 37 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 3 a (new)
Regulation (EU) No 1286/2014
Article 5 – paragraph 1
1. Before a PRIIP is made available to retail investors, the(3a) In Article 5, paragraph 1 is replaced by the following: "1. PRIIP manufacturers shall draw up for that productand publish on their website a key information document in accordance with the requirements of this Regulation and shall publish the document on its website.where the PRIIP is intended to be advised, offered or sold to retail investors."
2023/11/07
Committee: ECON
Amendment 46 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 4
Regulation (EU) No 1286/2014
Article 6 – paragraph 3 – point a
(a) PRIIPs manufacturers provide investors with tools adapted to retail investors, also by way of charts or graphs, that facilitate research and comparison among the different investment options, including on costs;
2023/11/07
Committee: ECON
Amendment 51 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 4
Regulation (EU) No 1286/2014
Article 6 – paragraph 3 – point c
(c) PRIIPs manufacturers provide investors, upon their request and in good time before retail investors are bound by any contract or offer to invest in a given investment option, the complete costs of the PRIIP relating to this investment option.deleted
2023/11/07
Committee: ECON
Amendment 56 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 4 a (new)
Regulation (EU) No 1286/2014
Article 6 – paragraph 4
(4a) in Article 6, paragraph 4 is replaced by the following: “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) that is easy to read, using characters of readable size; (b) retail investors need; (c) language and a style that communicate in a way that facilitates the understanding”; be presented and laid out in a way focus ofn the key information, in particular, in language that isbe clear, succinct and comprehensible.ly expressed and written in
2023/11/07
Committee: ECON
Amendment 61 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point aa
(a) in paragraph 3, point (aa) is added: ‘(aa) under a section titled ‘Product at a glance’ a dashboard with summarised information about all of the following: (i) to in point (c)(i); (ii) the summary risk indicator referred to in point (d)(i); (iii) (iv) the recommended holding period referred to in point (g)(ii); (v) whether the PRIIP offers the insurance benefits referred to in point (c) (iv);’deleted the type of the PRIIP, as referred the total costs of the PRIIP;
2023/11/07
Committee: ECON
Amendment 72 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point c
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point c – point ii – introductory part
(ii) the PRIIP’s financialits objectives and the means for achieving those objectives, andem, in particular whether those objectives will bare achieved by means of direct or indirect exposure to the underlying investment assets, including all of the following information:.
2023/11/07
Committee: ECON
Amendment 73 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point c
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point c – point ii – point 1
(1) a description of the underlying instruments or reference values;deleted
2023/11/07
Committee: ECON
Amendment 74 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point c
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point c – point ii – point 2
(2) a specification of the markets the PRIIP invests in;deleted
2023/11/07
Committee: ECON
Amendment 75 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point c
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point c – point ii – point 3
(3) information about how the return is determined;;deleted
2023/11/07
Committee: ECON
Amendment 78 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point c a (new)
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point c – point iii
(iii) a description of the type of retail investor to whom the PRIIP is intended to be marketed, in particular in terms of the ability to bear investment loss and the investment horizonc a) in paragraph 3, point (c), point (iii) is replaced by the following: “(iii) appropriate information on performance;”;
2023/11/07
Committee: ECON
Amendment 86 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point d
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point ga
(d) the following point (ga) is inserted: ‘(ga) for PRIIPs on which financial market participants are to disclose pre- contractual information pursuant to Regulation (EU) 2019/2088 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: (i) investment of the PRIIP that is associated with economic 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****; (ii) emissions intensity associated with the PRIIP pursuant to Delegated Regulation 2022/1288;’;deleted the minimum proportion of the the expected greenhouse gas
2023/11/07
Committee: ECON
Amendment 103 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1286/2014
Article 14 – paragraph 1
(1) The person advising on, or selling, a PRIIP shall provide the key information document to retail investors free of charge. The key information document shall be provided in an electronic format as defined in Article 4 paragraph 1 point 7a, unless the retail investor has requested to receive the key information document on paper. The person advising on, or selling a PRIIP shall inform the retail investors about their right to request receiveing the key information document on paper free of charge.
2023/11/07
Committee: ECON
Amendment 107 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1286/2014
Article 14 – paragraph 2
(2) The electronic format of the key information document may be provided by means of an interactive tool that enables the retail investor to generate personalised key information based on the information in the key information document or the information underlying it. That tool shall respect the following conditions: (a) shall not alter the understanding of the key information document; (b) presented; (c) shall be easily accessible through a link next to the interactive tool, and the link shall be accompanied by the following message "It is recommended to download and store the key information document”; (d) investors to simulate costs over the recommended holding period. Where the key information document is provided in accordance with the first subparagraph, its format may be adapted compared to the presentation of the key information document referred to in Article 8.deleted thee interactive tool, or its use, all key information shall be the key information document the interactive tool shall allow
2023/11/07
Committee: ECON
Amendment 111 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1286/2014
Article 14 – paragraph 3
(3) The ESAs shall develop draft regulatory technical standards specifying the modalities for personalising the information as referred to in paragraph 2, the first subparagraph, and the conditions for adapting the formatting of the information, as referred to in paragraph 2, the second subparagraph. In addition to the modalities referred to in the first subparagraph, the regulatory technical standards shall include the conditions for personalising the key investor information in the following manners: (a) the information to allow investors to simulate costs over a holding period that is different from the recommended holding period; (b) the information to allow investors to compare different PRIIPs; (c) the information to make it accessible to persons with disabilities.deleted the conditions for personalising the conditions for personalising the conditions for personalising
2023/11/07
Committee: ECON
Amendment 115 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1286/2014
Article 14 – paragraph 4
(4) The key information document may be presented in a layered format. In that case, the dashboard referred to in Article 8(3), point (aa) shall appear in the first layer.
2023/11/07
Committee: ECON
Amendment 116 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1286/2014
Article 14 – paragraph 5
(5) TWhere the person advising or selling the PRIIPS provides the retail investor with the key information document in electronic format through the website: a) the retail investor shall be notified electronically, or in written form, of the address of the website, and the place on the website where the key information document can be accessed.; b) the key information document shall remain accessible on the website of the person advising or selling the PRIIPS, 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.
2023/11/07
Committee: ECON
Amendment 118 #

2023/0166(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1286/2014
Article 14 – paragraph 6
(6) The key information document shall remain accessible on the website of the person advising or selling the PRIIPS, 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 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.deleted
2023/11/07
Committee: ECON
Amendment 124 #

2023/0166(COD)

Proposal for a regulation
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 = 1824 months after the date of entry into force of this amending Regulationpublication in the Official Journal of the European Union of the delegated acts referred to in Articles [•], [•] and [•].].
2023/11/07
Committee: ECON
Amendment 178 #

2023/0138(COD)

Proposal for a regulation
Recital 6 a (new)
(6a) It is therefore appropriate to review, for the purposes of calculating the public debt ratio, the method for calculating government deficit, which should be computed net of government expenditure on priority investments for the Union. The reference values for calculating the government deficit ratio, as well as the public debt ratio, should also be reviewed. The reference values set out in the Protocol to the Treaty on the Functioning of the European Union on the excessive deficit procedure have proved unsustainable over the years of their application. The inadequacy of the reference values chosen was revealed in particular during the severe economic crises experienced by the Union from 2009 onwards, especially the crisis following the spread of the COVID-19 pandemic. In fact, only the triggering of the safeguard clause made it possible to support economic recovery by injecting significant sums of public money into the economy to support businesses and the most vulnerable sectors of the population.
2023/10/26
Committee: ECON
Amendment 319 #

2023/0138(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 2
(2) ‘net expenditure’ means government expenditure net of interest expenditure, discretionary revenue measures and other budgetary variables outside the control of the government as set out in Annex II, point (a), expenditure on programmes of the Union fully matched by Union funds revenue, national expenditure on co- financing of programmes funded by the Union, cyclical elements of unemployment benefit expenditure, strategic investments in security and defence, and costs related to the borrowing of funds for the loans related to the national Recovery and Resilience Facility Plans;
2023/10/26
Committee: ECON
Amendment 332 #

2023/0138(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 2 a (new)
(2a) ‘decoupling investments’ means excluding, when calculating government expenditure, the cost of investments falling under the common priorities of the Union set out in Annex VI and any other priorities identified, on a proposal from the European Commission, by the Council and Parliament;
2023/10/26
Committee: ECON
Amendment 421 #

2023/0138(COD)

For each1. If a Member State havings a public debt above the 60% of GDP reference value or a government deficit above the 3% of GDP reference value, the Commissionat Member State shall put forward, in a report to the Economic and Financial Committee, to the Commission, after conducting with it the technical dialogue referred to in Article 10, a proposal for a technical trajectory for net expenditure covering a minimum adjustment period of 46 years of the national medium-term fiscal- structural plan, and its possible extension by a maximum of 34 years pursuant to Article 13. The Commission shall make the report public2. Based on the proposal, the Commission shall set out, in agreement with the Member State and by means of the technical dialogue referred to in Article 10, the technical trajectory and publish the report, without prejudice to the provisions of paragraphs 3 and 4 of this article. 3. The Commission shall forward the report to the Member State before it is published. 4. Before publication, the Commission shall also submit the report to Parliament.
2023/10/26
Committee: ECON
Amendment 442 #

2023/0138(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point a
(a) the public debt ratio is put or remains on a plausibly downwardn economically and socially sustainable path, or stays at prudent levels;
2023/10/26
Committee: ECON
Amendment 458 #

2023/0138(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point c
(c) the fiscal adjustment effort over the period of the national medium-term fiscal- structural plan is at least proportional to the total effort over the entire adjustment period, provided that the path is economically and socially sustainable;
2023/10/26
Committee: ECON
Amendment 474 #

2023/0138(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point d
(d) the public debt ratio at the end of the planning horizon is below the public debt ratio in the year before the start of the technical trajectorystabilises over the adjustment period; and
2023/10/26
Committee: ECON
Amendment 489 #

2023/0138(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point e
(e) national net expenditure growth remains below medium-term output growth, on average, as a rule over the horizon of the plan.deleted
2023/10/26
Committee: ECON
Amendment 500 #

2023/0138(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point e a (new)
(ea) the measures contained in the national medium-term fiscal-structural plan are adequate to support strategic public investment in order to reduce the public debt ratio through growth;
2023/10/26
Committee: ECON
Amendment 502 #

2023/0138(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point e b (new)
(eb) in the event that medium-term output growth stagnates or declines, the downward path for the public debt ratio is suspended and the fiscal adjustment effort over the period of the national medium- term fiscal-structural plan is revised accordingly;
2023/10/26
Committee: ECON
Amendment 506 #

2023/0138(COD)

Proposal for a regulation
Article 6 – paragraph 2
The technical trajectories shall be differentiated for each Member State. The criteria for setting the technical trajectoriesof the Member States shall be agre set out in Annex Ied with them.
2023/10/26
Committee: ECON
Amendment 527 #

2023/0138(COD)

Proposal for a regulation
Article 7 – paragraph 1 – point c
(c) the technical trajectory, if required under Article 5, and the corresponding structural primary balance.deleted
2023/10/26
Committee: ECON
Amendment 546 #

2023/0138(COD)

Proposal for a regulation
Article 7 – paragraph 3 a (new)
3a. In the event of periods of severe economic crisis for the euro area or for the whole Union, or of exceptional events beyond the control of the Member State having a strong impact on its financial position, the Commission shall revise and, where necessary, promptly update, in consultation with the Member States, the technical trajectories and quantitative guidance of the medium-term fiscal- structural plans of the Member States concerned.
2023/10/26
Committee: ECON
Amendment 549 #

2023/0138(COD)

Proposal for a regulation
Article 8 – title
Assessment of plausibility and economic and social sustainability
2023/10/26
Committee: ECON
Amendment 562 #

2023/0138(COD)

Proposal for a regulation
Article 8 – paragraph 1 a (new)
The Commission shall also assess the economic and social sustainability of the public debt ratio trajectory according to the methodology set out in Annex Va. The Commission shall make public its analysis of the economic and social sustainability and the underlying data.
2023/10/26
Committee: ECON
Amendment 565 #

2023/0138(COD)

Proposal for a regulation
Article 8 – paragraph 1 b (new)
By … [12 months after the entry into force of this Regulation], the Commission shall adopt a delegated act in accordance with Article 33 to supplement this Regulation by defining the methodology, agreed with the Member States in the relevant working groups, for debt sustainability analysis and the methodology for the assessment of plausibility referred to in paragraph 1. For the purpose of the delegated act on debt sustainability analysis, the Commission shall take into account, in particular, the future evolution of sustainable growth; the public debt ratio; interest rates; the level of inflation; liquidity risks; the structure of the debt; contingent liabilities; the potential growth impact of the reforms and investments underpinning the implemented national medium-term fiscal-structural plans.
2023/10/26
Committee: ECON
Amendment 591 #

2023/0138(COD)

Proposal for a regulation
Article 9 – paragraph 2 a (new)
Without prejudice to the rules of the constitutional system of each Member State, prior to the submission of its plan, the Member State shall discuss the content of the medium-term fiscal- structural plan before the national parliament.
2023/10/26
Committee: ECON
Amendment 597 #

2023/0138(COD)

Proposal for a regulation
Article 10 – paragraph 1
Prior to the submission of its national medium-term fiscal-structural plan, the Member State concerned shall hold with the Commission a technical dialogue, for the purpose of defining the technical trajectory in accordance with Article 5 and with the objective of ensuring that the national medium-term fiscal-structural plan complies with Articles 11, 12 and 14.
2023/10/26
Committee: ECON
Amendment 603 #

2023/0138(COD)

Proposal for a regulation
Article 11 – paragraph 1 – subparagraph 1
The national medium-term fiscal-structural plan shall provide the information listed in Annex II. In particular, it shall present a net expenditure trajectory covering a period of at least 46 years, as well as the underlying macroeconomic assumptions and the planned fiscal-structural measures in order to demonstrate compliance with the requirements of Article 12. The investments defined in Annex VI shall be excluded from the computation of net expenditure contained in the medium- term fiscal-structural plan.
2023/10/26
Committee: ECON
Amendment 608 #

2023/0138(COD)

Proposal for a regulation
Article 11 – paragraph 1 – subparagraph 2
The national medium-term fiscal- structural plan shall also describe the actions of the Member State concerned to address the country-specific recommendations, including those that are relevant for the Macroeconomic Imbalances Procedure, and the warnings by the Commission, where applicable, or the recommendations by the Council, where applicable, made pursuant to Article 121(4) TFEU.deleted
2023/10/26
Committee: ECON
Amendment 617 #

2023/0138(COD)

Proposal for a regulation
Article 11 – paragraph 2
2. Where the national-medium-term fiscal-structural plan includes a higher net expenditure trajectory than in the technical trajectory issued by the Commission pursuant to Article 5, the Member State shall provide in its plan sound and verifiable economic arguments explaining the difference.deleted
2023/10/26
Committee: ECON
Amendment 631 #

2023/0138(COD)

Proposal for a regulation
Article 12 – paragraph 1 – point a
(a) ensure the fiscal adjustment necessary to put or keep public debt on a plausibly downward path by the end of the adjustment period at the latest, or remain at prudent levels, and to bring and maintain the government deficit below the 3% of GDP reference value over the medium terme and economically and socially sustainable path;
2023/10/26
Committee: ECON
Amendment 646 #

2023/0138(COD)

Proposal for a regulation
Article 12 – paragraph 1 – point b
(b) explain how it will ensure the delivery of investment and reforms responding to the main challenges identified within the European Semester, in the country-specific recommendations, correct the identified macroeconomic imbalances under the Macroeconomic Imbalances Procedure if applicable, and address the common priorities of the Union referred to in Annex VI of this Regulation, including the European Green Deal, European Pillar of Social Rights and the Digital Decade while being consistent with the updated National Energy and Climate Plans and the National Digital Decade Roadmapsas strategic by the Member State;
2023/10/26
Committee: ECON
Amendment 669 #

2023/0138(COD)

Proposal for a regulation
Article 12 – paragraph 1 – point c
(c) if applicable, explain how it will ensure the delivery of a relevant set of reforms and investments referred to in Article 13, underpinning an extension of the Member State’s adjustment period by 34 years at most;
2023/10/26
Committee: ECON
Amendment 690 #

2023/0138(COD)

Proposal for a regulation
Article 13 – paragraph 1
1. Where a Member State commits to a relevant set of reforms and investments in accordance with the criteria set out in paragraph 2, the adjustment period may be extended by 34 years at most.
2023/10/26
Committee: ECON
Amendment 694 #

2023/0138(COD)

Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 1
The set of reform and investment commitments underpinning an extension of the adjustment period, shall be commensurate with the degree of public debt challenges and challenges to medium-term growth in the Member State concerned.deleted
2023/10/26
Committee: ECON
Amendment 721 #

2023/0138(COD)

Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point iii
(iii) address the common priorities of the Union referred to in Annex VI or other priorities identified as such by the Member State concerned;
2023/10/26
Committee: ECON
Amendment 778 #

2023/0138(COD)

Proposal for a regulation
Article 14 – paragraph 2
2. Prior to the submission of the revised national medium-term fiscal- structural plan, the Commission shall put forward, in a report to the Economic and Financial Committee, a new technical trajectoryMember State shall propose a new reference trajectory in accordance with Article 5.
2023/10/26
Committee: ECON
Amendment 803 #

2023/0138(COD)

Proposal for a regulation
Article 15 – paragraph 2 – point a
(a) whether the national medium-term fiscal-structural plan ensures that public debt is put or kept on a plausibly downward path by the end of the adjustment period at the lateste and economically and socially sustainable path, or stays at prudent levels;
2023/10/26
Committee: ECON
Amendment 830 #

2023/0138(COD)

Proposal for a regulation
Article 15 – paragraph 2 – point d
(d) whether the fiscal adjustment effort over the period of the national medium- term fiscal-structural plan is at least proportional to the total effort over the entire adjustment period, provided that the path is economically and socially sustainable;
2023/10/26
Committee: ECON
Amendment 832 #

2023/0138(COD)

Proposal for a regulation
Article 15 – paragraph 2 – point e
(e) whether for the years that the Member State concerned is expected to have a deficit above the 3% of GDP reference value, and the excess is not close and temporary, the fiscal adjustment is consistent with the benchmark referred to under Article 3 of Council Regulation (EC) No 1467/97 on speeding up and clarifying the implementation of the excessive deficit procedure as amended by Regulation [X]; andeleted
2023/10/26
Committee: ECON
Amendment 850 #

2023/0138(COD)

Proposal for a regulation
Article 15 – paragraph 2 – point f
(f) whether the public debt ratio at the end of the planning horizon is below the public debt ratio in the year before the start of the technical trajectoryhas stabilised over the adjustment period.
2023/10/26
Committee: ECON
Amendment 898 #

2023/0138(COD)

Proposal for a regulation
Article 18 – paragraph 1 – introductory part
The Council shall, on a recommendation from the Commission, recommend to the Member State concerned that the technical trajectory issued by the Commissionpursuant to Article 5 be the net expenditure path of the Member State where:
2023/10/26
Committee: ECON
Amendment 900 #

2023/0138(COD)

Proposal for a regulation
Article 18 – paragraph 1 – point a
(a) the Member State concerned fails to submit a revised national medium-term fiscal-structural plan within onthree months of the recommendation by the Council;
2023/10/26
Committee: ECON
Amendment 939 #

2023/0138(COD)

Proposal for a regulation
Article 21 – paragraph 2
The Commission shall set up a control account, functioning in accordance with Annex IV, and shall keep track of cumulative upward (debit) and downward (credit) deviations of actual net expenditures from the net expenditure path. In the control account, upward deviations shall also take into account the ratio of private debt to GDP .
2023/10/26
Committee: ECON
Amendment 1039 #

2023/0138(COD)

Proposal for a regulation
Article 32 – paragraph 1
The Commission is empowered to adopt delegated acts in accordance with Article 33 to amend Annexes II to VII to adapt them to take due account of further developments or needs regarding the information in the national medium-term fiscal-structural plan (Annex II) or in the annual progress reports (Annex III), regarding the functioning of the control account (Annex IV), regarding the methodology for the assessment of plausibility (Annex V), regarding the common priorities of the Union (Annex VI) or regarding the assessment framework (Annex VII).
2023/10/26
Committee: ECON
Amendment 1043 #

2023/0138(COD)

Proposal for a regulation
Article 33
1. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in this Article. 2. The power to adopt delegated acts referred to in Article 32 shall be conferred for an indeterminate period of time from XXX. 3. The delegations of power referred to in Article 32 may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect on the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force. 4. Before adopting a delegated act, the Commission shall consult experts designated by each Member State in accordance with the principles laid down in the Interinstitutional Agreement of 13 April 2016 on Better Law-Making. 5. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 6. A delegated act adopted pursuant to Article 32 shall enter into force only if no objection has been expressed either by the European Parliament or by the Council within a period of one month of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by one month at the initiative of the European Parliament or of the Council.Article 33 deleted Exercise of the delegation
2023/10/26
Committee: ECON
Amendment 1054 #

2023/0138(COD)

Proposal for a regulation
Article 35
In-depth surveillance missions 1. The Commission may undertake in- depth surveillance missions in Member States which are the subject of recommendations issued pursuant to Article 23 for the purposes of on-site monitoring. 2. When the Member State concerned is a Member State whose currency is the euro or a Member State that is participating in ERM2, the Commission may invite representatives of the European Central Bank, if appropriate, to participate in surveillance missions.Article 35 deleted
2023/10/26
Committee: ECON
Amendment 1074 #

2023/0138(COD)

Proposal for a regulation
Annex I
Criteria for setting the technical trajectory for Member States having a public debt above 60% of GDP reference value or government deficit above 3% of GDP reference value For Member States having public debt above the 60% of GDP reference value or government deficit above the 3% of GDP reference value, the technical trajectory shall ensure that: (a) by the end of the adjustment period, at the latest, the 10-year debt trajectory in the absence of further budgetary measures is on a plausibly downward path or stays at prudent levels; (b) the government deficit is brought and maintained below the 3% of GDP reference value in the absence of further budgetary measures over the same 10- year period; (c) for the years that the Member State concerned is expected to have a deficit above the 3% of GDP reference value, and the excess is not close and temporary, the technical trajectory is also consistent with the benchmark referred to under Article 3 of Council Regulation (EC) No 1467/97 on speeding up and clarifying the implementation of the excessive deficit procedure as amended by Regulation [X]; (d) the adjustment effort is not postponed towards the final years of the adjustment period, that is to say the fiscal adjustment effort over the period of the national medium-term fiscal-structural plan is at least proportional to the total effort over the entire adjustment period; (e) the public debt ratio at the end of the planning horizon is below the public debt ratio in the year before the start of the technical trajectory; and (f) national net expenditure growth remains below medium-term output growth, on average, as a rule over the horizon of the plan.deleted
2023/10/26
Committee: ECON
Amendment 1166 #

2023/0138(COD)

Proposal for a regulation
Annex V a (new)
Annex Va Methodology used by the Commission to assess economic and social sustainability The methodology for the assessment of sustainability pursuant to Article 8 is based on the following conditions: the roadmap used to reduce the public debt ratio should be based on GDP growth and take into account the specific situation of each country; the roadmap used to reduce the public debt ratio should in no way jeopardise the public investments necessary for attaining the objectives of the European Pillar of Social Rights, including its targets for employment, skills and poverty reduction, by 2030.
2023/10/26
Committee: ECON
Amendment 1170 #

2023/0138(COD)

Proposal for a regulation
Annex VI – paragraph 1 – point c
(c) Tinvestment in security and defence in implementing the Strategic Compass for Security and Defence - 'For a European Union that protects its citizens, values and interests and contributes to international peace and security' as well as the Digital Decade Policy Programme 203037, and reflected at national level through the National Digital Decade Strategic Roadmaps; _________________ 37 Decision (EU) 2022/2481 of the European Parliament and of the Council of 14 December 2022 establishing the Digital Decade Policy Programme 2030, (OJ L 323, 19.12.2022, p. 4)–26.
2023/10/26
Committee: ECON
Amendment 1173 #

2023/0138(COD)

Proposal for a regulation
Annex VI – paragraph 1 – point d a (new)
(da) promoting the EU's development by means of the economic, social and territorial cohesion instruments;
2023/10/26
Committee: ECON
Amendment 1174 #

2023/0138(COD)

Proposal for a regulation
Annex VI – paragraph 1 – point d b (new)
(db) where applicable, essential investments made up to 2026, to achieve the targets and reforms set out in the national recovery and resilience plans, as well as the cost of borrowing, including principal and interest, up to the year of full repayment.
2023/10/26
Committee: ECON
Amendment 101 #

2023/0137(CNS)

Proposal for a regulation
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 1
The Commission, when preparing a report under Article 126(3) TFEU, shall take into account as a key relevant factor the degree of debt challenges in the Member State concerned. In particular, where the Member State faces substantial public debt challenges according to the most recent Debt Sustainability Monitor, it shall be considered a key factor leading to the opening of an excessive deficit procedure as a rule.deleted
2023/10/25
Committee: ECON
Amendment 120 #

2023/0137(CNS)

Proposal for a regulation
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 2
The Commission shall also take into account all other relevant factors as indicated in Article 126(3) TFEU, in so far as they significantly affect the assessment of compliance with the deficit and debt criteria by the Member State concerned.
2023/10/25
Committee: ECON
Amendment 215 #

2023/0137(CNS)

Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point a
Regulation (EC) No 1467/97
Article 5 – paragraph 1 – subparagraph 1
Any Council decision to give notice to the participating Member State concerned to take measures for the deficit reduction in accordance with Article 126(9) TFEU shall be taken within two months of the Council decision under Article 126(8) TFEU establishing that no effective action has been taken. In the notice, the Council shall request that the Member State implements a corrective net expenditure path which ensures that the general government deficit remains or is brought and maintained below the reference value within the deadline set in the notice. For the years where the general government deficit is expected to exceed the reference value, the corrective net expenditure path shall be consistent with a minimum annual adjustment of at least 0,5% of GDP as a benchmark.
2023/10/25
Committee: ECON
Amendment 41 #

2023/0136(NLE)

Proposal for a directive Sole Article – Paragraph 1 – point 3 – point a Directive 2011/85/EU
Article 4 – paragraph 1
1. Member States shall ensure that annual and multiannual fiscal planning is based on realistic macroeconomic and budgetary forecasts using the most up-to- date information. Budgetary planning shall be based on the most likely macrofiscal scenario or on a more prudent scenario. The macroeconomic and budgetary forecasts shall be either produced or endorsvaluated by independent fiscal institutions established in accordance with Article 8. They shall be compared with the most updated forecasts of the Commission. Significant differences between the macroeconomic and budgetary forecasts of the Member States and the Commission’s forecasts shall be explained, including where the level or growth of variables in external assumptions departs significantly from the values contained in the Commission’s forecasts.
2023/10/24
Committee: ECON
Amendment 70 #

2023/0136(NLE)

Proposal for a directive Sole Article – Paragraph 1 – point 8 Directive 2011/85/EU
Article 8 – paragraph 4 – point a
(a) producing the annual and multiannual macroeconomic and budgetary forecasts underlying the government’s medium-term planning or endorsvaluating those used by the budgetary authorities;
2023/10/24
Committee: ECON
Amendment 87 #

2023/0115(COD)

Proposal for a directive
Recital 1 a (new)
(1a) The Union crisis management framework should ensure at all times that losses are not being socialised and taxpayers’ resources are not employed to aid or rescue credit institutions in difficulty, unless in extraordinary circumstances of a systemic nature or pertaining to very large economic turmoil.
2023/11/06
Committee: ECON
Amendment 101 #

2023/0115(COD)

Proposal for a directive
Recital 18
(18) Pursuant to Article 10(2) of Directive 2014/49/EU, it is confirmed that Member States are to ensure that by 3 July 2024, the available financial means of a DGS reach a target level of 0,8 % of the amount of the covered deposits of its members. To objectively assess whether DGSs fulfil that requirement, a clear reference period should be set to determine the amount of covered deposits and DGSs’ available financial means.
2023/11/06
Committee: ECON
Amendment 109 #

2023/0115(COD)

Proposal for a directive
Recital 22
(22) It is necessary to enhance depositor protection, while avoiding the need for a fire sale of the assets of a DGS and limiting possible negative pro-cyclical effects over the banking industry caused by the collection of extraordinary contributions. DGSs should therefore be allowed to use alternative funding arrangements that enable them to obtain at any time short- term funding from sources other than contributions, including before using their available financial means and funds collected through extraordinary contributions. Because credit institutions should primarily bear the cost and responsibility for financing DGSs, alternative funding arrangements from public funds should only be used where they act as a last resort.
2023/11/06
Committee: ECON
Amendment 173 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 11 – point a – point -i (new)
Directive 2014/49/EU
Article 10 – paragraph 2 – subparagraph 1
2. Member States shall ensure that, by 3 July 2024(-i) the first subparagraph is replaced by the following: "2. Member States shall ensure that, by ... [18 months after the date of entry into force of this amending Directive], the available financial means of a DGS shall at least reach and maintain a target level of 0,8 % of the amount of the covered deposits of its members."
2023/11/06
Committee: ECON
Amendment 184 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 11 – point e a (new)
Directive 2014/49/EU
Article 10 – paragraph 9
9.(ea) paragraph 9 is replaced by the following: " 9. It is confirmed that Member States shall ensure that DGSs have in place adequate alternative funding arrangements to enable them to obtain short-term funding to meet claims against those DGSs."
2023/11/06
Committee: ECON
Amendment 188 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 11 – point g
Directive 2014/49/EU
Article 10 – paragraph 11
11. Member States shall ensure that in the context of the measures referred to in Article 11(1), (2), (3) and (5), DGSs may use the funds originating from the alternative funding arrangements referred to in Article 10(9) which are not financed through public funds, before using the available financial means and before collecting the extraordinary contributions referred to in Article 10(8). Member States shall ensure that DGSs use alternative funding arrangements financed through public funds only as a last resort.
2023/11/06
Committee: ECON
Amendment 199 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 12
Directive 2014/49/EU
Article 11 – paragraph 3 – introductory part
3. Member States may allowshall ensure that DGSs tocan use the available financial means for preventive measures as referred to in Article 11a for the benefit of a credit institution where all of the following applies:
2023/11/06
Committee: ECON
Amendment 202 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 12
Directive 2014/49/EU
Article 11 – paragraph 3 – point a
(a) none of the circumstances referred to inthe resolution authority has not taken any resolution action under Article 32(4) of Directive 2014/59/EU are present;
2023/11/06
Committee: ECON
Amendment 214 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 12
Directive 2014/49/EU
Article 11 – paragraph 5
5. Where a credit institution is wound up in accordance with Article 32b of Directive 2014/59/EU in order to exit the market or terminate its banking activity, Member States may allowshall ensure that DGSs tocan use the available financial means for alternative measures to preserve the access of depositors to their deposits, including the transfer of assets and liabilities and a deposit book transfer, provided that the DGS confirms that the cost of the measure does not exceed the cost of repaying depositors as calculated in accordance with Article 11e of this Directive and that all the conditions laid down in Article 11d of this Directive are met.’;
2023/11/06
Committee: ECON
Amendment 219 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11a – paragraph 1 – introductory part
1. Where Member States shallow the use of DGS funds for preventive measures as referred to in Article 11(3), Member States shall ensure that ensure that the designated authorities, after consulting the competent authorities and the resolution authorities, approve in a timely manner the use of the available financial means of DGSs use the available financial means for the preventive measures referred to in Article 11(3), provided that all of the following conditions are met:
2023/11/06
Committee: ECON
Amendment 233 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11a – paragraph 1 – point f
(f) the credit institution complies with its obligations under this Directive and has fully reimbursed any previous preventive measure.
2023/11/06
Committee: ECON
Amendment 248 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11a – paragraph 4a (new)
4a. EBA shall develop draft guidelines to specify the following: (a) the conditions referred to under paragraph 1, point (c); (b) the monitoring systems and decision making systems that DGSs are to have in place in accordance with paragraph 2. EBA shall submit those guidelines to the Commission by ... [one year after the date of entry into force of this amending Directive].
2023/11/06
Committee: ECON
Amendment 250 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11b – paragraph 1
1. Member States shall ensure that credit institutions which request a DGS to finance preventive measures in accordance with Article 11(3) present to the competent authority for consultation a note with measures that those credit institutions commit to undertake to ensure or restoreand maintain compliance with the applicable supervisory requirements applicable to the credit institution concerned and that are laid down in Directive 2013/36/EU and Regulation (EU) No 575/2013.
2023/11/06
Committee: ECON
Amendment 267 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11b – paragraph 6
6. Where the Union State aid framework is applicable, Member States shall ensure that the measures envisaged in the note referred to in paragraph 1 are aligned with the restructuring plan that the credit institution is required to submit to the Commission under that framework, in accordance with the Union State aid framework, to be accordingly updated taking into account the European Court of Justice pronouncements, before the entry into force of the Directive.
2023/11/06
Committee: ECON
Amendment 284 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11d – paragraph 1
1. Where Member States shallow enable the use of DGS funds for the alternative measures referred to in Article 11(5), they. Member States shall ensure that when DGSs finance such measures the credit institutionsa marketing, or make arrangements for the marketing of,should be performed having regard to the assets, rights and liabilities those credit institutions intend to transfer. Without prejudice to the Union State aid framework, such marketing shall comply with all of the following:
2023/11/06
Committee: ECON
Amendment 290 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11e – paragraph 2 – point b
(b) for the measures referred to in Article 11(2) and (5), the DGS shall base its estimation of the cost of repaying depositors, as referred to in paragraph 1, point (b), on the valuation of the credit institution’s assets and liabilities referred to in Article 36(1) of Directive 2014/59/EU and the estimate referred to in Article 36(8) of that Directive;deleted
2023/11/06
Committee: ECON
Amendment 292 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11e – paragraph 2 – point c
(c) for the measures referred to in Article 11(2), (3) and (5), when estimating the cost of repaying depositors, as referred to in paragraph 1, point (b), the DGS shall take into account the expected ratio of recoveries, and any indirect costs, including the cost for the replenishment of the DGS that is to be borne by credit institutions that are members of the DGS, and the potential additional costs of funding for the DGS and for the banking system and the impact on the weaker banks;
2023/11/06
Committee: ECON
Amendment 294 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11e – paragraph 2 – point d
(d) for the measures referred to in Article 11(3),2), (3), and (5) when estimating the cost of repaying depositors, the DGS shall multiply the estimated ratio of recoveries calculated in accordance with the methodology referred to in paragraph 5, point b, by 85 %.
2023/11/06
Committee: ECON
Amendment 299 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11e – paragraph 5
The EBA shall develop draft regulatory technical standards to specifyguidelines to specify, taking into consideration the specific features of each Member State:
2023/11/06
Committee: ECON
Amendment 300 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11e – paragraph 5 – point b
(b) the methodology for the calculation of the estimated cost of repaying depositors referred to in paragraph 1, point (b), including the estimated ratio of recoveries referred to in paragraph 2, point (c), which shall take into account the specific features of the Member State concerned;
2023/11/06
Committee: ECON
Amendment 302 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11e – paragraph 5 – subparagraph 3
The EBA shall submit those draft regulatory technical standards to the Commission by …[OP – please insert the date= 12 months after the date of entry into force of this Directive].deleted
2023/11/06
Committee: ECON
Amendment 303 #

2023/0115(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Power is delegated to the Commission to supplement this Directive by adopting the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.’;
2023/11/06
Committee: ECON
Amendment 332 #

2023/0115(COD)

Proposal for a directive
Article 3 – paragraph 1 – subparagraph 2
Directive 2014/49/EU
Article 3 – paragraph 1 – subparagraph 2
They shall apply those provisions from … [OP – please insert the date = 24 months after the date of entry into force of this Directive]. However, they shall apply the provisions necessary to comply with Article 11(3), as amended by this Directive, and Articles 11a, 11b, 11c and 11e in relation to preventive measures from … [PO – please insert the date = 4836 months after the date of entry into force of this Directive].
2023/11/06
Committee: ECON
Amendment 54 #

2023/0112(COD)

Proposal for a directive
Recital 10
(10) The assessment of whether the resolution of an institution or entity is in the public interest should reflect the consideration that depositors are better protected when deposit guarantee scheme (‘DGS’) funds are used more efficiently and the losses for those funds are minimised. Therefore, in the public interest assessment, the resolution objective of protecting depositors should be considered better achieved in resolution if opting for insolvency would be more costly for the DGS.deleted
2023/11/06
Committee: ECON
Amendment 62 #

2023/0112(COD)

Proposal for a directive
Recital 11
(11) The assessment of whether the resolution of an institution or entity is in the public interest should also reflect, to the extent possible, the difference between, on the one hand, funding provided through industry-funded safety nets (resolution financing arrangements or DGSs) and, on the other hand, funding provided by Member States from taxpayers’ money. Funding provided by Member States bears a higher risk of moral hazard and a lower incentive for market discipline. As the public interest assessment is an ad hoc decision, it also lacks transparency and has negative consequences for the level playing field in the internal market. Therefore, when assessing the objective of minimising reliance on extraordinary public financial support, resolution authorities should find funding through the resolution financing arrangements or the DGS preferable toand funding through an equal amount of resources from the budget of Member States.
2023/11/06
Committee: ECON
Amendment 68 #

2023/0112(COD)

Proposal for a directive
Recital 12
(12) To ensure that the resolution objectives are attained in the most effective way, the outcome of the public interest assessment should be negative only where the winding up of the failing institution or entity under normal insolvency proceedings would achieve the resolution objectives more effectively and not only to the same extent as resolution.deleted
2023/11/06
Committee: ECON
Amendment 78 #

2023/0112(COD)

Proposal for a directive
Recital 17
(17) In light of the experience acquired in the implementation of Directive 2014/59/EU, Regulation (EU) No 806/2014 and Directive 2014/49/EU of the European Parliament and of the Council31 , it is necessary to specify further the conditions under which measures of a preventive precautionary nature that qualify as extraordinary public financial support may exceptionally be granted. To minimise distortions of competition arising from differences in nature of DGSs in the Union, interventions of DGSs in the context of preventive measures complying with Directive 2014/49/EU that qualify as extraordinary public financial support should exceptionally be allowed where the beneficiary institution or entity does not meet any of the conditions for being deemed ashas been not declared failing or likely to fail. It should be ensured that precautionary measures are taken sufficiently early. The European Central Bank (ECB) currently bases its consideration that an institution or entity is solvent, for the purposes of precautionary recapitalisation, on a forward-looking assessment for following 12 months of whether the institution or entity can comply with the own funds requirements set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council32 or in Regulation (EU) 2019/2033 of the European Parliament and of the Council33 , and the additional own funds requirement laid down in Directive 2013/36/EU or Directive (EU) 2019/2034. That practice should be laid downrevised in Directive 2014/59/EU. Moreover, measures to provide relief for impaired assets, including asset management vehicles or asset guarantee schemes, can prove effective and efficient in addressing causes of possible financial distresses faced by institutions and entities and preventing their failure and could therefore constitute relevant precautionary measures. It should be therefore specified that such precautionary measures can take the form of impaired asset measures. __________________ 31 Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (OJ L 173, 12.6.2014, p. 149). 32 Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1). 33 Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019 on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014 (OJ L 314, 5.12.2019, p. 1).
2023/11/06
Committee: ECON
Amendment 80 #

2023/0112(COD)

Proposal for a directive
Recital 18
(18) To preserve market discipline, protect public funds and avoid distortions of competition, precautionary measures should remain the exception and only be applied to address situations of serious disturbance in the market or to preserve financial stability. Moreover, precautionary measures should not be used to address incurred or likely losses unless an exception to the burden-sharing requirement is made under Union State aid framework. The most reliable instrument to identify incurred or likely to be incurred losses is an asset quality review by the ECB, the European Supervisory Authority (European Banking Authority) (EBA), established by Regulation (EU) No 1093/2010 of the European Parliament and of the Council34 or national competent authorities. Competent authorities should use such a review to identify incurred or likely to be incurred losses where such review can be carried out within a reasonable timeframe. Where that is not possible, competent authorities should identify incurred or likely to be incurred losses in the most reliable way possible under the prevailing circumstances, based on on-site inspections where appropriate. __________________ 34 Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12).
2023/11/06
Committee: ECON
Amendment 83 #

2023/0112(COD)

Proposal for a directive
Recital 19
(19) Precautionary recapitalisation is aimed at supporting viable institutions and entities identified as likely to encounter temporary difficulties in the near future and to prevent their situation from deteriorating further. To avoid that public subsidies are granted to businesses that are already unprofitable when the support is granted, precautionary measures granted in the form of acquisition of own funds instruments or other capital instruments or through impaired asset measures should not exceed the amount necessary to cover capital shortfalls as identified in the adverse scenario of a stress test or equivalent exercise. To ensure that public financing is ultimately discontinued, those precautionary measures should also be limited in time and contain a clear timeline for their termination (exit strategy). Perpetual instruments, including Common Equity Tier 1 capital, should only be used in exceptional circumstances and be subject to certain quantitative limits because by their nature they are not well suited for compliance with the condition of temporariness.
2023/11/06
Committee: ECON
Amendment 85 #

2023/0112(COD)

Proposal for a directive
Recital 20
(20) Precautionary measures should be limited to the amount that the institution or entity would need to maintain its solvency in the case of an adverse scenario event as determined in a stress test or equivalent exercise. In the case of precautionary measures in the form of impaired asset measures, the receiving institution or entity should be able to use that amount to cover losses on the transferred assets or in combination with an acquisition of capital instruments, provided that the overall amount of the shortfall identified is not exceeded. It is also necessary to ensure that such precautionary measures in the form of impaired asset measures comply with existing State aid rules and best practices, that they restore the institution or entity's long-term viability, that State aid is limited to the minimum necessary and that distortions of competition are avoided. For those reasons, the authorities concerned should in case of precautionary measures in the form of impaired asset measures take into account the specific guidance, including the AMC Blueprint35 and the Communication on Tackling Non- Performing Loans36 . Those precautionary measures in the form of impaired asset measures should always be subject to the overriding condition of temporariness. Public guarantees granted for a specified period in relation to the impaired assets of the institution or entity concerned are expected to ensure better compliance with the temporariness condition than transfers of such assets to a publicly supported entity. To ensure the market exit of institutions and entities that prove not to be viable, despite the support received, it is necessary to lay down that non- compliance by the institution or entity concerned with the terms of the support measures specified at the time such measures were granted is to result in the institution or entity concerned being considered failing or likely to fail. __________________ 35 COM(2018) 133 final. 36 COM(2020) 822 final.
2023/11/06
Committee: ECON
Amendment 91 #

2023/0112(COD)

Proposal for a directive
Recital 29
(29) The level of the MREL for resolution entities is the sum of the amount of the losses expected in resolution and the recapitalisation amount that enable the resolution entity to continue to comply with its conditions for authorisation and enabling it to pursue its activities for the appropriate period. Certain preferred resolution strategies entail the transfer of assets, rights and liabilities to a recipient and market exit, in particular the sale of business tool. In those cases, the objectives pursued by the recapitalisation component might not apply to the same extent, because the resolution authority will not be required to ensure that the resolution entity restores compliance with its own funds requirements after resolution action. Nevertheless, the losses in such cases are expected to exceed the resolution entity’s own funds requirements. It is therefore appropriate to lay down that the level of the MREL of those resolution entities continues to include a recapitalisation amount that is adjusted in a way that is proportionate to the resolution strategy.
2023/11/06
Committee: ECON
Amendment 93 #

2023/0112(COD)

Proposal for a directive
Recital 30
(30) Where the resolution strategy envisages the use of resolution tools other than bail-in, the recapitalisation needs of the entity concerned will generally be smaller after resolution than in case of open bank bail-in. The calibration of the MREL in such a case should take that aspect into account when estimating the recapitalisation requirement. Therefore, when adjusting the level of the MREL for resolution entities the resolution plan of which envisages the sale of business tool or the bridge institution tool and its exit from the market, resolution authorities should take into account the features of those tools, including the expected perimeter of the transfer to the private purchaser or to the bridge institution, the types of instruments to be transferred, the expected value and marketability of those instruments and the design of the preferred resolution strategy, including the complementary use of the asset separation tool. Since the resolution authority has to decide on a case by case basis on any possible use in resolution of funds from DGS and since such decision cannot be assumed with certainty ex ante, the resolution authorities should not consider the potential contribution of the DGS in resolution when calibrating the level of the MREL.
2023/11/06
Committee: ECON
Amendment 96 #

2023/0112(COD)

Proposal for a directive
Recital 31
(31) It is necessary to ensure equal incentives to build sufficient amounts of MREL for institutions and entities that would be subject to transfer strategies both in and outside resolution. The setting of level of the MREL for institutions or entities that may be subject to of measures in the context of national insolvency proceedings pursuant to Article 11(5) of Directive 2014/49/EU should therefore follow the same rules as those applicable to the setting of the MREL for resolution entities whose preferred resolution strategy provides for the sale of business or transfer to a bridge institution leading to its exit from the market.deleted
2023/11/06
Committee: ECON
Amendment 140 #

2023/0112(COD)

Proposal for a directive
Recital 44
(44) The contribution of the DGS in resolution should be subject to certain limits. First, it should be ensured that any loss which the DGS may bear as a result of an intervention in resolution does not exceed the loss that the DGS would bear in insolvency if it paid out covered depositors and subrogated to their claims over the institution’s assets. That amount should be determined on the basis of the least cost test, in accordance with the criteria and methodology set out in Directive 2014/49/EU, taking into account all relevant factors, including the time value of money as well as delays in the recovery of funds and the recovery rates expected in insolvency proceedings, based on national specificities. Those criteria and methodology should also be used when determining the treatment that the DGS would have received had the institution entered normal insolvency proceedings when carrying out the ex-post valuation for the purposes of assessing compliance with the ‘no creditor worse off’ principle and determining any compensation owed to the DGS. Second, the amount of the DGS’s contribution aimed at covering the difference between the assets and liabilities to be transferred to a purchaser or to a bridge institution should not exceed the difference between the transferred assets and the transferred deposits and liabilities with the same or a higher priority ranking in insolvency than those deposits. That would ensure that the contribution of the DGS is only used for the purposes of avoiding the imposition of losses on depositors, where appropriate, and not for the protection of creditors that rank below deposits in insolvency. Nevertheless, the sum of the contribution of the DGS to cover the difference between assets and liabilities with the contribution of the DGS towards the own funds of the recipient entity should not exceed the cost of repaying covered depositors as calculated under the least cost test.
2023/11/06
Committee: ECON
Amendment 213 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 12
Directive 2014/59/EU
Article 27 – paragraph 1a – point d
(d) the requirement to change the legal structure of the institution;deleted
2023/11/06
Committee: ECON
Amendment 214 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 12
Directive 2014/59/EU
Article 27 – paragraph 1 a – point f a (new)
(fa) the requirement for the management body to contact potential purchasers and to put in place a digital platform for sharing the information that is necessary for the marketing of the institution or entity referred to in Article 1(1), points (b), (c) or (d) with potential purchasers or with advisors and valuers in order to prepare for the resolution of that institution or entity, subject to the conditions laid down in Article 39(2) and the confidentiality provisions laid down in Article 84.
2023/11/06
Committee: ECON
Amendment 228 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 15
After having received the notification referred to in the first subparagraph, resolution authorities shall assess, in close cooperation with competent authorities, what constitutes a reasonable timeframe for the purposes of the assessment of the condition referred to in Article 32(1), point (b), taking into account the speed of the deterioration of the conditions of the institution or entity referred to in Article 1(1), points (b), (c) or (d), the risk that a prolonged process increases the overall costs for customers and the economy, the need to implement effectively the resolution strategy and any other relevant considerations. Resolution authorities shall communicate that assessment to competent authorities as early as possible.
2023/11/06
Committee: ECON
Amendment 244 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 16
Directive 2014/59/EU
Article 31 – paragraph 2 – point d
(d) to protect depositors, while minimising losses for deposit guarantee schemes, and to protect investors covered by Directive 97/9/EC;;
2023/11/06
Committee: ECON
Amendment 249 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 16 a (new)
Directive 2014/59/EU
Article 31 – paragraph 2 a (new)
(16a) in Article 31 the following paragraph 2a is added: "2a. Subject to different provisions of this Directive, the resolution objectives are of equal significance, and resolution authorities shall balance them as appropriate to the nature and circumstances of each case. For the purposes of Article 32(5), the objectives of preserving financial stability and protecting depositors pursuant to points (b) and (d) of paragraph 2, respectively, shall be deemed to be more significant than other resolution objectives.";
2023/11/06
Committee: ECON
Amendment 255 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 17 – point a
Directive 2014/59/EU
Article 32 – paragraph 2 – subaparagraph 1
Member States shall ensure that the competent authority makes an assessment of the condition referred to in paragraph 1, point (a), after having consulted the resolution authorityPrior to determining an institution failing or likely to fail, the relevant authority referred to in point (a) of Article 32(1) shall examine whether there exist measures, including alternative private sector measures, supervisory action or early intervention measures, which can avoid the failing or likely to fail declaration.
2023/11/06
Committee: ECON
Amendment 261 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 17 – point c
Directive 2014/59/EU
Article 32 – paragraph 5 – subparagraph 1
For the purposes of paragraph 1, point (c), a resolution action shall be treated as in the public interest where, pursuant to the second subparagraph of Article 31(3), that resolution action is necessary for the achievement of, and is proportionate to, one or more of the resolution objectives referred to inin that Article 31, and where winding up of the institution under normal insolvency proceedings would not meet those resolution objectives more effectivelyto the same extent. Member States shall ensure that when carrying out the assessment referred to in the first subparagraph, pursuant to Articles 10(1) and 45c(2), the resolution authority, in order to assess the appropriateness of the resolution for the institution, considers the following elements: (a) the prevalence of deposits and the absence of debt instruments in the funding model; (b) the access to the capital markets for eligible liabilities; (c) the extent to which the institution relies on Common Equity Tier 1 capital to meet its capital requirements.
2023/11/06
Committee: ECON
Amendment 277 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 17 – point c
Directive 2014/59/EU
Article 32 – paragraph 5 – subparagraph 2
Member States shall ensure that when carrying out the assessment referred to in the first subparagraph, the resolution authority, based on the information available to it at the time of that assessment, considers and compares all extraordinary public financial support that can reasonably be expected to be granted to the institution, both in the event of resolution and in the event of winding up in accordance with the applicable national law.;
2023/11/06
Committee: ECON
Amendment 287 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 18
Directive 2014/59/EU
Article 32b – paragraph 4
4. Member States shall ensure that the withdrawal of the authorisation of the institution or entity referred to in Article 1(1), points (b), (c) or (d) declared when the conditions mentioned in paragraph 3 are met is a sufficient condition for a relevant national administrative or judicial authority to be able to initiate without delay the procedure to wind up the institution or entity in an orderly manner in accordance with the applicable national law. ’:
2023/11/06
Committee: ECON
Amendment 290 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 19
Directive 2014/59/EU
Article 32c – title
Extraordinary pPublic financial support
2023/11/06
Committee: ECON
Amendment 294 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 19
Directive 2014/59/EU
Article 32c – paragraph 1 – introductory part
1. Member States shall ensure that extraordinary public financial support outside of resolution action or the winding up according to the applicable procedures may be granted to an institution or entity as referred to in Article 1(1), points (b), (c) or (d), on an exceptional basis only in one of the following cases and provided that the extraordinary public financial support complies with the conditions and requirements established in the Union State aid framework:
2023/11/06
Committee: ECON
Amendment 298 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 19
Directive 2014/59/EU
Article 32c – paragraph 1 – point a – introductory part
(a) where, to remedy a serious disturbance in the economy of a Member State or to preserve financial stability, the extraordinary public financial support takes any of the following formextraordinary support measures:
2023/11/06
Committee: ECON
Amendment 303 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 19
Directive 2014/59/EU
Article 32c – paragraph 1 – point b
(b) where the extraordinary public financial support takes the form of an intervention by a deposit guarantee scheme to preserve the financial soundness and long-term viability of the credit institution in compliance with the conditions set out in Articles 11a and 11b of Directive 2014/49/EU, provided that none of the circumstances referred to in Article 32(4) are present;
2023/11/06
Committee: ECON
Amendment 311 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 19
Directive 2014/59/EU
Article 32c – paragraph 1 – point c
(c) where the extraordinary public financial support takes the form of an intervention by a deposit guarantee scheme in the context of the winding up of an institution pursuant to Article 32b and in accordance with the conditions set out in Article 11(5) of Directive 2014/49/EU;
2023/11/06
Committee: ECON
Amendment 319 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 19
By way of derogation from paragraph 2, point (d), the support measures referred to in paragraph 1, point (a) can be used to offset losses that the institution or entity is likely to incur in the near future where an exception to the burden-sharing requirement is made under Union State aid framework.
2023/11/06
Committee: ECON
Amendment 320 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 19
Directive 2014/59/EU
Article 32c – paragraph 2 – subparagraph 2
For the purposes of the first subparagraph, point (a), an institution or entity shall be deemed to be solvent where the competent authority has concluded that no breach has occurred, or is likely to occur in the 12 following months, of any of the requirements referred to in Article 92(1) of Regulation (EU) No 575/2013, Article 104a of Directive 2013/36/EU, Article 11(1) of Regulation (EU) 2019/2033, Article 40 of Directive (EU) 2019/2034 or the relevant applicable requirements under Union or national law. The competent authority may deem an institution or entity to be solvent where it determines that a breach of these requirements is temporary in nature, taking into account the specific circumstances of each case, and provided that the institution or entity can demonstrate a reasonable plan to remedy the breach within an appropriate timeframe as determined by the competent authority.
2023/11/06
Committee: ECON
Amendment 328 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 19
Directive 2014/59/EU
Article 32c – paragraph 2 – subparagraph 5
By way of derogation from paragraph 1, point (a)(iii), acquisition of Common Equity Tier 1 instruments shall be exceptionally permitted where the nature of the shortfall identified is such that the acquisition of any other own funds instruments or other capital instruments would not make it possible for the institution or entity concerned to address its capital shortfall established in the adverse scenario in the relevant stress test or equivalent exercise. The amount of acquired Common Equity Tier 1 instruments shall not exceed 2% of the total risk exposure amount of the institution or entity concerned calculated in accordance with Article 92(3) of Regulation (EU) No 575/2013.
2023/11/06
Committee: ECON
Amendment 330 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 19
Directive 2014/59/EU
Article 32c – paragraph 2 – subparagraph 6
In case any of the support measures referred to in paragraph 1, point (a), is not redeemed, repaid or otherwise terminated in accordance with the terms of the exit strategy established at the time of granting such measure, the competent authority shall conclude that the condition laid down in Article 32(1), point (a), is met in relation to the institution or entity which has received those support measures, and shall communicate that assessment to the resolution authority concerned.deleted
2023/11/06
Committee: ECON
Amendment 358 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 31 – point -a (new)
Directive 2014/59/EU
Article 45c – paragraph 2 – subparagraph 2
(-a) the second subparagraph of paragraph 2 is replaced by the following: " Where the resolution plan provides that the entity is to be wound up under normal insolvency proceedings or other equivalent national procedures, the resolution authority limits the requirement referred to in Article 45(1) for that entity, so that it does not exceed an amount sufficient to absorb losses in accordance with point (a) of the first subparagraph, except in extraordinary cases of the need for additional buffer. The buffer in any case shall be lower than the recapitalisation amount as referred to in paragraph 3."
2023/11/06
Committee: ECON
Amendment 370 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 32
Directive 2014/59/EU
Article 45ca – paragraph 1 – introductory part
1. When applying Article 45c to a resolution entity whose preferred resolution strategy envisages primarily the use of the sale of business tool or the bridge institution tool and its exit from the market, the resolution authority shallmay set thea recapitalisation amount provided in Article 45c(3), that may be higher or equal to zero, in a proportionate way on the basis of the following criteria, as relevant:
2023/11/06
Committee: ECON
Amendment 376 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 32
Directive 2014/59/EU
Article 45ca – paragraph 1 – point a
(a) the resolution entity’s size, business model, funding model and risk profile, and the depth of the market in which the resolution entity operatability to access the capital markets for eligible liabilities;
2023/11/06
Committee: ECON
Amendment 386 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 32
Directive 2014/59/EU
Article 45ca – paragraph 1 – point ea (new)
(e a) whether any contribution by a deposit guarantee scheme is expected to be made pursuant to Article 109.’
2023/11/06
Committee: ECON
Amendment 394 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 32
Directive 2014/59/EU
Article 45ca – paragraph 2
2. Where the resolution plan provides that the entity is to be wound up under normal insolvency proceedings or other equivalent national procedures and envisages the use of the deposit guarantee scheme pursuant to Article 11(5) of Directive 2014/49/EU, the resolution authority shall also take into account paragraph 1 of this Article when carrying out the assessment referred to in Article 45c(2a), second subparagraph, of this Directive.deleted
2023/11/06
Committee: ECON
Amendment 422 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 53 – point a
Directive 2014/59/EU
Article 103 – paragraph 3
3. The available financial means to be taken into account in order to reach the target level specified in Article 102 may include irrevocable payment commitments which are fully backed by collateral of low risk assets unencumbered by any third party rights, at the free disposal and earmarked for the exclusive use by the resolution authorities for the purposes specified in Article 101(1). The share of irrevocable payment commitments shall not exceed 530 % of the total amount of contributions raised in accordance with this Article. Within that limit, the resolution authority shall determine annually the share of irrevocable payment commitments in the total amount of contributions to be raised in accordance with this Article.;
2023/11/06
Committee: ECON
Amendment 468 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 56 – point a
Directive 2014/59/EU
Article 109 – paragraph 1 – point b – point i
(i) the amount necessary to cover the difference between the value of the covered deposits and of the liabilities with the same or a higher priority ranking than deposits and the value of the assets of the institution under resolution which are to be transferred to a recipient; and
2023/11/06
Committee: ECON
Amendment 472 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 56 – point a
Directive 2014/59/EU
Article 109 – paragraph 1 – subparagraph 2 – point b
(b) where relevant, an amount necessary to ensure the capital neutrality of the transfer for the recipient. The decision of the resolution authority to exclude eligible deposits from the application of the write-down or conversion powers shall give rise to a rebuttable presumption that such an exclusion meets the requirements laid down in Article 44(3). Paragraph 12 of Article 44 shall not apply to such an exclusion.
2023/11/06
Committee: ECON
Amendment 482 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 56 – point b
Directive 2014/59/EU
Article 109 – paragraph 2b – subparagraph 1
The contribution of the deposit guarantee scheme pursuant to paragraph 1, second subparagraph, shall count towards the thresholds laid down in Article 44(5), point (a), and in Article 44(8), point (a).
2023/11/06
Committee: ECON
Amendment 486 #

2023/0112(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 56 – point b
Directive 2014/59/EU
Article 109 – paragraph 2b – subparagraph 3
However, the first and the second subparagraphs shall not apply to institutions that have been identified as liquidation entities in the group resolution plan or in the resolution plan.;deleted
2023/11/06
Committee: ECON
Amendment 64 #

2023/0111(COD)

Proposal for a regulation
Recital 4
(4) The intensity, and level of detail, of the resolution planning work needed with respect to subsidiaries that have not been identified as resolution entities varies depending on the size and risk profile of the institutions and entities concerned, the presence of critical functions, and the group resolution strategy. The Single Resolution Board (the ‘Board’) should therefore be able to consider those factors when identifying the measures to be taken in respect of such subsidiaries and follow a simplified approach where appropriateit should be able to decide to follow a simplified approach, after consulting with the respective national authority, where appropriate, as long as the simplified approach does not, under any circumstances, result in a reduction of required standards.
2023/11/06
Committee: ECON
Amendment 68 #

2023/0111(COD)

Proposal for a regulation
Recital 10
(10) The level of the MREL for resolution entities is the sum of the amount of the losses expected in resolution and the recapitalisation amount that enables the resolution entity to continue to comply with its conditions for authorisation and enabling it to pursue its activities for an appropriate period. Certain preferred resolution strategies entail the transfer of assets, rights and liabilities to a recipient and market exit, in particular the sale of business tool. In those cases, the objectives pursued by the recapitalisation component might not apply to the same extent as in the case of an open-bank bail-in strategy, because the Board will not be required to ensure that the resolution entity restores compliance with its own funds requirements after resolution action. Nevertheless, the losses in such cases are expected to exceed the resolution entity’s own funds requirements. It is therefore appropriate to lay down that the level of the MREL of those resolution entities continues to include a recapitalisation amount that is adjusted in a way which is proportionate to the resolution strategy.
2023/11/06
Committee: ECON
Amendment 71 #

2023/0111(COD)

Proposal for a regulation
Recital 11
(11) Where the resolution strategy envisages the use of resolution tools other than bail-in, the recapitalisation needs of the entity concerned will generally be smaller after resolution than in case of open bank bail-in. The calibration of the MREL in such a case should take that aspect into account when estimating the recapitalisation requirement. Therefore, when adjusting the level of the MREL for resolution entities the resolution plan of which envisages the sale of business tool or the bridge institution tool and, optionally, its exit from the market, the Board should take into account the features of those tools, including the expected perimeter of the transfer to the private purchaser or to the bridge institution, the types of instruments to be transferred, the expected value and marketability of those instruments, and the design of the preferred resolution strategy, including the complementary use of the asset separation tool. Since the resolution authority has to decide on a case by case basis on any possible use in resolution of funds from the deposit guarantee scheme and since such decision cannot be assumed with certainty ex ante, the Board should not consider the potential contribution of the deposit guarantee scheme (in resolution when calibrating the level of the MREL.
2023/11/06
Committee: ECON
Amendment 78 #

2023/0111(COD)

Proposal for a regulation
Recital 17
(17) The resolution framework is meant to be applied to potentiallymanage the failure of any institution or entity, irrespective of its size and business mod that has a positive public interest assessment, namely, ifwhen the tools available under national law are not adequate to manage its failure. To ensure such outcome, the criteria to apply the public interest assessment to any failing institution or entity should be specified.
2023/11/06
Committee: ECON
Amendment 83 #

2023/0111(COD)

Proposal for a regulation
Recital 18
(18) The assessment of whether the resolution of an institution or entity is in the public interest should reflect, among other factors, the consideration that depositors are better protected when deposit guarantee scheme funds are used more efficiently and the losses for those funds are minimised. Therefore, in the public interest assessment, the resolution objective of protecting depositors should be considered better achieved in resolution if opting for insolvency would be more costly for the deposit guarantee schemefollowing a holistic evaluation.
2023/11/06
Committee: ECON
Amendment 90 #

2023/0111(COD)

Proposal for a regulation
Recital 19
(19) The assessment of whether the resolution of an institution or entity is in the public interest should also reflect, to the extent possible, the difference between, on the one hand, funding provided throughprioritisation of using industry-funded safety nets (resolution financing arrangements or deposit guarantee schemes) and, on the other hand,instead of funding provided by Member States from taxpayers’ money, except for extraordinary circumstances of a systemic nature or pertaining to very large economic turmoil. Funding provided by Member States bears a higher risk of moral hazard and a lower incentive for market discipline. Therefore, when assessing the objective of minimising reliance on extraordinary public financial support, the Board should find funding through the resolution financing arrangements or the deposit guarantee scheme, preferable to funding through an equal amount of resources from the budget of Member States.
2023/11/06
Committee: ECON
Amendment 94 #

2023/0111(COD)

Proposal for a regulation
Recital 20
(20) To ensure that the resolution objectives are attained in the most effective way, the outcome of the public interest assessment should be negative only whereconsider whether the winding up of the failing institution or entity under normal insolvency proceedings would achieve the resolution objectives more effectively and not only to the same extent as resolution.
2023/11/06
Committee: ECON
Amendment 99 #

2023/0111(COD)

Proposal for a regulation
Recital 21
(21) In light of the experience acquired in the implementation of Directive 2014/59/EU, Regulation (EU) No 806/2014 and Directive 2014/49/EU, it is necessary to specify further the conditions under which measures of a precautionary nature that qualify as extraordinary public financial support may exceptionally be granted. To minimise distortions of competition arising from differences in nature of deposit guarantee schemes in the Union, interventions of such schemes in the context of preventive measures complying with the requirements laid down in Directive 2014/49/EU that qualify as extraordinary public financial support should exceptionally be allowed where the beneficiary institution or entity does not meet any of the conditions for being deemed ashas been not declared failing or likely to fail. It should be ensured that precautionary measures are taken sufficiently early failing or likely to fail. It should be ensured that precautionary measures are taken sufficiently early. The ECB currently bases its consideration that an institution or entity is solvent, for the purposes of precautionary recapitalisation, on a forward-looking assessment for the following 12 months of whether the institution or entity can comply with the own funds requirements set out in Regulation (EU) No 575/2013 or in Regulation (EU) 2019/2033, and the additional own funds requirement laid down in Directive 2013/36/EU or Directive (EU) 2019/2034. That practice should be laid downrevised in Regulation (EU) No 806/2014. Moreover, measures to provide relief for impaired assets, including asset management vehicles or asset guarantee schemes, can prove effective and efficient in addressing causes of possible financial distress faced by institutions and entities and preventing their failure and could therefore constitute relevant precautionary measures. It should therefore be specified that such precautionary measures can take the form of impaired asset measures.
2023/11/06
Committee: ECON
Amendment 102 #

2023/0111(COD)

Proposal for a regulation
Recital 23
(23) Precautionary recapitalisation is aimed at supporting viable institutions and entities identified as likely to encounter temporary difficulties in the near future and to prevent their situation from deteriorating further. To avoid that public subsidies are granted to businesses that are already unprofitable when the support is granted, precautionary measures granted in the form of acquisition of own funds instruments or other capital instruments or through impaired asset measures should not exceed the amount necessary to cover capital shortfalls as identified in the adverse scenario of a stress test or equivalent exercise. To ensure that public financing is ultimately discontinued, those precautionary measures should also be limited in time and contain a clear timeline for their termination (exit strategy). Perpetual instruments, including Common Equity Tier 1 capital, should only be used in exceptional circumstances and be subject to certain quantitative limits because by their nature they are not well suited for compliance with the condition of temporariness.
2023/11/06
Committee: ECON
Amendment 104 #

2023/0111(COD)

Proposal for a regulation
Recital 24
(24) Precautionary measures should be limited to the amount that the institution or entity would need to maintain its solvency in case of an adverse scenario event as determined in a stress test or equivalent exercise. In the case of precautionary measures in the form of impaired asset measures, the receiving institution or entity should be able to use that amount to cover losses on the transferred assets or in combination with an acquisition of capital instruments, provided that the overall amount of the shortfall identified is not exceeded. It is also necessary to ensure that such precautionary measures in the form of impaired asset measures comply with existing State aid rules and best practices, that they restore the institution or entity's long-term viability, that State aid is limited to the minimum necessary and that distortions of competition are avoided. For those reasons, the authorities concerned should, in case of precautionary measures in the form of impaired asset measures, take into account the specific guidance, including the AMC Blueprint35 and the Communication on Tackling Non- Performing Loans36 . Those precautionary measures in the form of impaired asset measures should also always be subject to the overriding condition of temporariness. Public guarantees granted for a specified period in relation to the impaired assets of the institution or entity concerned are expected to ensure better compliance with the temporariness condition than transfers of such assets to a publicly supported entity. To ensure the market exit of institutions and entities that prove not to be viable, despite the support received, it is necessary to lay down that non- compliance by the institution or entity concerned with the terms of the support measures specified at the time such measures were granted is to result in the institution or entity concerned being considered failing or likely to fail. __________________ 35 COM(2018) 133 final. 36 COM(2020) 822 final.
2023/11/06
Committee: ECON
Amendment 107 #

2023/0111(COD)

Proposal for a regulation
Recital 35
(35) In order to ensure institutional continuity and the build-up of institutional expertise, the Chair, the Vice-Chair and the other full-time members of the Board should be allowed to serve for two consecutive terms in their respective positions. It should therefore be possible to renew their term of office for a five-year term, based on an evaluation by the Commission of the discharge of their duties during the first term.deleted
2023/11/06
Committee: ECON
Amendment 113 #

2023/0111(COD)

Proposal for a regulation
Recital 40 a (new)
(40a) Given the creditor hierarchy review, market conditions might not be as favourable to deposit guarantee schemes that seek such alternative funding arrangements. Therefore, to prevent temporary financing by the Member States, and to ensure that it remains a last resort, the Board should be able to provide either a credit line or a guarantee based on the Single Resolution Fund to a deposit guarantee scheme in order to facilitate its access to markets at favourable financing conditions. The Single Resolution Fund's support should be provided when the deposit guarantee scheme is required to intervene in resolution, yet available financial means are insufficient to satisfy the needs of such action.
2023/11/06
Committee: ECON
Amendment 122 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point c a (new)
Regulation (EU) No 806/2014
Article 3 – paragraph 1 – point 55 a (new)
(ca) the following point is added: ‘(55a) ‘critical functions’ means activities, services or operations the discontinuance of which is likely, in one or more Member States, to lead to the disruption of services that are essential to the real economy or to disrupt financial stability at national or regional level on a significant scale, due to the size, market share, external and internal interconnectedness, complexity or cross-border activities of an institution or group, with particular regard to the substitutability of those activities, services or operations;’.
2023/11/06
Committee: ECON
Amendment 131 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point b
Regulation (EU) No 806/2014
Article 8 – paragraph 10 – subparagraph 3
The identification of the measures to be taken in respect of the subsidiaries referred to in the first subparagraph, point (b), that are not resolution entities may be subject to a simplified approach by the Board, after consulting with the relevant national resolution authority, and if such approach would not negatively affect the resolvability of the group, taking into account the size of the subsidiary, its risk profile, the absence of critical functions and the group resolution strategy.;
2023/11/06
Committee: ECON
Amendment 148 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) No 806/2014
Article 12da – paragraph 1 – point a
(a) the resolution entity’s size, business model, funding model and risk profile, and the depth of the market in which the resolution entity operatability to access the capital markets for eligible liabilities;
2023/11/06
Committee: ECON
Amendment 155 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) No 806/2014
Article 12da – paragraph 1 – point e a (new)
(ea) whether any contribution by a deposit guarantee scheme is expected to be made pursuant to Article 79.’
2023/11/06
Committee: ECON
Amendment 160 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 11
Regulation (EU) No 806/2014
Article 12da – paragraph 2
2. Where the resolution plan provides that the entity is to be wound up under normal insolvency proceedings or other equivalent national procedures and envisages the use of the deposit guarantee scheme pursuant to Article 11(5) of Directive 2014/49/EU, the Board shall also take into account paragraph 1 of this Article when carrying out the assessment referred to in Article 12d(2a), second subparagraph, of this Regulation.deleted
2023/11/06
Committee: ECON
Amendment 186 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 16
Regulation (EU) No 806/2014
Article 13c – paragraph 4 – introductory part
4. TAfter having received the notification referred to in paragraph 2, the Board shall have the power to market to potential purchasers, or make arrangements for such marketing, the entity referred to in Article 7(2), or the entity referred to in Article 7(4), point (b), and Article 7(5) where the conditions for the application of those provisions are met or require the entity to do so, for the following purposes:
2023/11/06
Committee: ECON
Amendment 198 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 17
Regulation (EU) No 806/2014
Article 14 – paragraph 2 – point d
(d) to protect depositors while minimising losses for deposit guarantee schemes, and to protect investors covered by Directive 97/9/EC;;
2023/11/06
Committee: ECON
Amendment 203 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 17 a (new)
Regulation (EU) No 806/2014
Article 14 – paragraph 2a (new)
(17a) in Article 14, the following paragraph 2a is inserted: "2a. Subject to different provisions of this Regulation, the resolution objectives are of equal significance, and resolution authorities shall balance them as appropriate to the nature and circumstances of each case. For the purposes of Article 18(5), the objectives of preserving financial stability and protecting depositors pursuant to points (b) and (d) of paragraph 2, respectively, shall be deemed to be more significant than other resolution objectives.’;
2023/11/06
Committee: ECON
Amendment 209 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 19 – point a
Regulation (EU) No 806/2014
Article 18 – paragraph 2
2. Without prejudice to cases where the ECB has decided to exercise directly supervisory tasks relating to credit institutions pursuant to Article 6(5), point (b) of Regulation (EU) No 1024/2013, in the event of receipt of a communication pursuant to paragraph 1 in relationPrior to determining an institution failing or likely to fail, the relevant authority referred to ain entity or group as referred to in Article 7(3), the Board shall communicate its assessment as referred to paragraph 1, fourth subparagraph, to the ECB or the relevant national competent authority withoutthe second subparagraph of Article 18(1) shall examine whether there exist measures, including alternative private sector measures, supervisory action or early intervention measures, which can avoid the failing or likely to fail declayration.
2023/11/06
Committee: ECON
Amendment 213 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 19 – point c
Regulation (EU) No 806/2014
Article 18 – paragraph 5 – subparagraph 1
For the purposes of paragraph 1, point (c), a resolution action shall be treated as in the public interest where, pursuant to the second subparagraph of Article 14(3), that resolution action is necessary for the achievement of, and is proportionate to, one or more of the resolution objectives referred to in that Article 14, and where winding up of the institution under normal insolvency proceedings would not meet those resolution objectives more effectively. to the same extent.
2023/11/06
Committee: ECON
Amendment 216 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 19 – point c
Regulation (EU) No 806/2014
Article 18 – paragraph 5 – subparagraph 1a (new)
When carrying out the assessment referred to in the first subparagraph, pursuant to Articles 8(2), 9(2) and 12d(2), the Board, in order to assess the appropriateness of the resolution for the institution, considers the following elements: (a) the prevalence of deposits and the absence of debt instruments in the funding model; (b) the access to the capital markets for eligible liabilities; (c) the extent to which the institution relies on Common Equity Tier 1 capital to meet its capital requirements.
2023/11/06
Committee: ECON
Amendment 222 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 19 – point c
Regulation (EU) No 806/2014
Article 18 – paragraph 5 – subparagraph 2
When carrying out the assessment referred to in the first subparagraph, the Board, based on thepursuant to Articles 8(2), 9(2) and 12d(2), the Board, inf ormation available to it at the time of that assessment, shall consider and compare all extraordinary public financial support that can reasonably be expected to be granted to the entity, both in the event of resolution and inder to assess the appropriateness of the resolution for the institution, considers the following elements: (a) the prevalence of deposits and the absence of debt instruments in the funding model; (b) the access to the capital markets for eligible liabilities; (c) the evxtent of winding up in accordance with the applicable national lawto which the institution relies on Common Equity Tier 1 capital to meet its capital requirements.;
2023/11/06
Committee: ECON
Amendment 242 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 20
Regulation (EU) No 806/2014
Article 18a – paragraph 2 – subparagraph 1 – point b
(b) the measures are of a precautionary and temporary nature and are based on a pre-defined exit strategy approved by the ECB or the relevant national competent authority, including a clearly specified termination date, sale date or repayment schedule for any of the measures provided;
2023/11/06
Committee: ECON
Amendment 246 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 20
Regulation (EU) No 806/2014
Article 18a – paragraph 2 – subparagraph 2
For the purposes of the first subparagraph, point (a), an entity shall be deemed to be solvent where the ECB or the relevant national competent authority have concluded that no breach has occurred, or is likely to occur in the 12 following months, of any of the requirements referred to in Article 92(1) of Regulation (EU) No 575/2013, Article 104a of Directive 2013/36/EU, Article 11(1) of Regulation (EU) 2019/2033, Article 40 of Directive (EU) 2019/2034 or the relevant applicable requirements under national or Union law.
2023/11/06
Committee: ECON
Amendment 247 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 20
Regulation (EU) No 806/2014
Article 18a – paragraph 2 – subparagraph 2 a (new)
The ECB or the relevant national competent authority may deem an entity to be solvent where they determine that a breach of the requirements referred to in the second subparagraph is temporary in nature, taking into account the specific circumstances of each case, and provided that the entity can demonstrate a reasonable plan for the remedy of the breach within an appropriate timeframe, as determined by the ECB or the relevant national competent authority.
2023/11/06
Committee: ECON
Amendment 251 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 20
Regulation (EU) No 806/2014
Article 18a – paragraph 2 – subparagraph 5
By way of derogation from paragraph 1, point (a)(iii), aAcquisition of Common Equity Tier 1 instruments shall be exceptionally permitted where the nature of the shortfall identified is such that the acquisition of any other own funds instruments or other capital instruments would not make it possible for the entity concerned to address its capital shortfall established in the adverse scenario in the relevant stress test or equivalent exercise. The amount of acquired Common Equity Tier 1 instruments shall not exceed 2% of the total risk exposure amount of the institution or entity concerned calculated in accordance with Article 92(3) of Regulation (EU) No 575/2013.
2023/11/06
Committee: ECON
Amendment 255 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 20
Regulation (EU) No 806/2014
Article 18a – paragraph 2 – subparagraph 6
In case any of the support measures referred to in paragraph 1, point (a), is not redeemed, repaid or otherwise terminated in accordance with the terms of the exit strategy established at the time of granting such measure, the ECB or the relevant national competent authority shall conclude that the condition laid down in Article 18(1), point (a), is met in relation to the institution or entity which has received those support measures and shall communicate that assessment to the Commission and to the Board, in accordance with Article 18(1), third subparagraphrequest the institution or entity to submit a remediation plan describing the steps to be taken in order to ensure or restore compliance with supervisory requirements, its long-term viability and to repay the amount provided, as well as the associated timeframe.;
2023/11/06
Committee: ECON
Amendment 256 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 20
Where the ECB or the relevant national competent authority does not recognise the remediation plan as credible or feasible, or where the institution or entity fails to comply with the remediation plan, an assessment of whether the institution or entity is failing or likely to fail shall be conducted in accordance with Article 18.
2023/11/06
Committee: ECON
Amendment 258 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 20
Regulation (EU) No 806/2014
Article 18a – paragraph 2 a (new)
2a. The ECB or the relevant national competent authority shall inform the Board of its assessment whether the conditions referred to in paragraph 2, points (a), (b) and (d), with respect to the entities and groups referred to in Article 7(2), and to the entities and groups referred to in Article 7(4), point (b), and Article 7(5) are met.
2023/11/06
Committee: ECON
Amendment 259 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 20
Regulation (EU) No 806/2014
Article 18 – paragraph 2 b (new)
2b. By way of derogation from paragraph 2, point (d), the support measures referred to in paragraph 1, point (a) can be used to offset losses that the institution or entity is likely to incur in the near future where an exception to the burden-sharing requirement is made under Union State aid framework.
2023/11/06
Committee: ECON
Amendment 260 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 21 – point a
Regulation (EU) No 806/2014
Article 19 – paragraph 1 – subparagraph 1
Where resolution action involves the granting of State aid pursuant to Article 107(1) TFEU or of Fund aid in accordance with paragraph 3 of this Article, the resolution scheme referred to in Article 18(6) of this Regulation shall not enter into force until such time when the Commission adopts a positive or conditional decision, or a decision not to raise objections, concerning the compatibility of the use of such aid with the internal market, while taking into consideration the need for timely execution of the resolution scheme by the Board. The Commission shall take the decision concerning the compatibility of the use of State aid or of Fund aid with the internal market at the latest when it endorses or objects to the resolution scheme pursuant to Article 18(7), second subparagraph, or when the period of 24 hours referred to in Article 18(7), fifth subparagraph, expires, whichever is earlier. In the absence of such decision within 24 hours from the transmission of the resolution scheme by the Board, the resolution scheme shall be deemed authorised by the Commission and shall enter into force in accordance with Article 18(7), fifth subparagraph.
2023/11/06
Committee: ECON
Amendment 292 #

2023/0111(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 37 – point a
Regulation (EU) No 806/2014
Article 70 – paragraph 3
3. The available financial means to be taken into account in order to reach the target level specified in Article 69 may include irrevocable payment commitments which are fully backed by collateral of low-risk assets unencumbered by any third- party rights, at the free disposal of and earmarked for the exclusive use by the Board for the purposes specified in Article 76(1). The share of those irrevocable payment commitments shall not exceed 530 % of the total amount of contributions raised in accordance with this Article. Within that limit, the Board shall determine annually the share of irrevocable payment commitments in the total amount of contributions to be raised in accordance with this Article.;
2023/11/06
Committee: ECON
Amendment 325 #

2023/0111(COD)

Proposal for a regulation
Article 2 – paragraph 2
It shall apply from … [OP please insert the date = 1824 months from the date of entry into force of this amending Regulation].
2023/11/06
Committee: ECON
Amendment 17 #

2022/2172(INI)

Motion for a resolution
Paragraph 2
2. Stresses the crucial and growing importance ofat the EU budget ins a means of delivering on virtually all of the EU’s key policy objectives, its flagship programmes and its crisis intervention; underlines the multiple challenges the EU is facing such as building up its strategic autonomy, ending its reliance upon Russian fossil fuels, completing the health union and the energy union and financing important common projects such as defence, civil protection and space; considers therefore that all new EU policies and challenges must involve new means and extra resources; reiterates, in this regard, that robust, reliable and resilient financing of the EU budget requires a diversified and enlarged set of own resources; is convinced that there is huge potential in a well-designed reform of the EU own resources not only for strengthening the financing of its budgetary needs, but also for boosting its policy outputs, improving the fiscal equilibrium between the EU and Member States and adding value to overall public financbe accompanied by the efficient use of the means and resources made available;
2023/02/09
Committee: BUDG
Amendment 55 #

2022/2172(INI)

Motion for a resolution
Paragraph 10 a (new)
10 a. Points out persistent shortcomings in new own resources design and their predictability, meanwhile manifesting legal pressure as regards their introduction brings systemic risks;
2023/02/09
Committee: BUDG
Amendment 74 #

2022/2172(INI)

Motion for a resolution
Paragraph 12 a (new)
12 a. Points out the risks of companies' relocation and capital outflow from the European Union;
2023/02/09
Committee: BUDG
Amendment 111 #

2022/2172(INI)

Motion for a resolution
Paragraph 15
15. Calls, therefore, for the establishment of a ‘fair border tax’ requiring companies imexporting goods into the EU to pay a levy for any workers in their global supply chain who are paid a daily wage that is insufficient to allow them to escape absolute poverty, as characterised by international organisations; underlines that any company imexporting into the EU single market products made by workers paid less than a fixed poverty threshold would have to pay a duty amounting to the difference between this threshold and the salary their workers receive;
2023/02/09
Committee: BUDG
Amendment 117 #

2022/2172(INI)

Motion for a resolution
Paragraph 16
16. Considers that the EU ‘fair border tax’ wshould incentivise third-country companies operating in the EU to raise salaries in their global supply chains and thus improve living conditions for workers in third countries and drive reform in countries with poor labour standards and regulations, while ensuring that European consumers do not contribute to extreme exploitation; notes that the competitiveness of companies producing in the EU could improve under this mechanism; points out that this mechanism should comply with World Trade Organization (WTO) rules, in particular Article XX(b) for the protection of human life or health;
2023/02/09
Committee: BUDG
Amendment 118 #

2022/2172(INI)

Motion for a resolution
Paragraph 16 a (new)
16a. Deplores the establishment of a 'fair border tax' in its present form, calling on the EU instead to step up cooperation with the third country responsible for enforcing key competition rules and ensuring that workers' rights are fully respected, rather than seeking to sidestep the issue by levying a duty on the EU companies concerned, thereby burdening them with a new and additional form of European taxation;
2023/02/09
Committee: BUDG
Amendment 127 #

2022/2172(INI)

Motion for a resolution
Paragraph 19 a (new)
19 a. Points out three major risks of introduction of such tax: 1) double taxation, as providers could be liable for a consumption tax on their digital services, while also having to pay a corporate income tax on the profits gained from the same services; 2) consumption taxes may need to be paid even if the company is not profitable; 3) adverse effects may present in global trade relations, as major players on the digital services market may persuade their home countries, like China and USA, to retaliate, as happened when France introduced its digital service tax1a; _________________ 1a https://www.politico.eu/article/ustr- announces-duties-on-1-3b-in-french- goods-in-tax-dispute/
2023/02/09
Committee: BUDG
Amendment 146 #

2022/2172(INI)

Motion for a resolution
Paragraph 23 a (new)
23a. Deplores the creation of a new own resource based on the gender pay gap; emphasises that a new form of taxation along these lines is not a suitable response to gender pay gap and that investment in appropriate training and employment opportunities would be preferable;
2023/02/09
Committee: BUDG
Amendment 152 #

2022/2172(INI)

Motion for a resolution
Paragraph 24 a (new)
24a. Deplores the introduction and ongoing search for additional EU own resources, given the need for the Union to rationalise spending and streamline its administration before subjecting European citizens and businesses to new forms of taxation;
2023/02/09
Committee: BUDG
Amendment 17 #

2022/2148(INI)

Motion for a resolution
Citation 20 a (new)
- having regard to Regulation (EU) No 1380/2013 of the European Parliament and of the Council of 11 December 2013 on the Common Fisheries Policy,
2023/05/23
Committee: PECH
Amendment 48 #

2022/2148(INI)

Motion for a resolution
Recital L a (new)
La. whereas as technology and consumer demand has developed, value chains in the fisheries sector have become increasingly complex and globalised; whereas although primary producers play a key role in those chains, they do not always benefit from the added value generated later on in the chain;
2023/05/23
Committee: PECH
Amendment 50 #

2022/2148(INI)

Motion for a resolution
Recital L b (new)
Lb. whereas artisanal fishing, in particular, faces a series of challenges that may be the result of the inconsistent and irregular nature, and sometimes low volumes, of the catch landed by smaller operators, the short shelf life of seafood, and the high demand for a limited range of species;
2023/05/23
Committee: PECH
Amendment 51 #

2022/2148(INI)

Motion for a resolution
Recital L c (new)
Lc. whereas the ferocious competition from better organised and highly specialised fishing companies, like those from China, is tough for many companies from all parts of Europe, particularly the south;
2023/05/23
Committee: PECH
Amendment 115 #

2022/2148(INI)

Motion for a resolution
Paragraph 14 a (new)
14a. Calls for EU funding for 'exploratory fishing', i.e. a type of fishing with the goal of discovering new species, either because they had hitherto been alien to our seas or because they simply have not been exploited for cultural reasons, which may be caught and placed on the market; this move is a major step forward because stocks that are currently suffering periods of biological decline can be exploited less and it enables our fishers to continue to do their work in basins where new species are increasing and others are often unknown;
2023/05/23
Committee: PECH
Amendment 119 #

2022/2148(INI)

Motion for a resolution
Paragraph 14 b (new)
14b. Calls for the introduction of a strict EU policy on the labelling of fish; consumers have the right to be informed with regard to geographical indications on catch areas and must be able to have full faith in the fisheries supply chain as a whole on the EU market;
2023/05/23
Committee: PECH
Amendment 121 #

2022/2148(INI)

Motion for a resolution
Paragraph 14 c (new)
14c. Calls for the introduction of financial rewards and incentives for sustainable practices, for the development of partnerships and certification by means of quality and ecological sustainability labels;
2023/05/23
Committee: PECH
Amendment 122 #

2022/2148(INI)

Motion for a resolution
Paragraph 14 d (new)
14d. Calls for promotion campaigns for artisanal fisheries products to be organised and for a return to smaller, more specialised sales outlets so that they can position themselves on markets where they are not yet present;
2023/05/23
Committee: PECH
Amendment 7 #

2022/2062(INI)

Draft opinion
Paragraph 1 a (new)
1 a. Stresses the fact that sustaining microenterprises, SMEs and mid-caps must remain a key objective for the EIB; reiterates, moreover, that the EIB should further strengthen its support for microenterprises, especially in times of severe crisis, including through cooperation with National Support Banks and local banking networks;
2023/04/03
Committee: BUDG
Amendment 14 #

2022/2062(INI)

Draft opinion
Paragraph 2 a (new)
2 a. Welcomes the EIB's decision to invest EUR 2.1 billion in the modernisation of the Palermo-Catania line, which will reduce the current travel times by a third, linking the two cities with a direct two-hour rail service;
2023/04/03
Committee: BUDG
Amendment 19 #

2022/2062(INI)

Draft opinion
Paragraph 3
3. AwaitsTakes note of the review of the Climate Bank Roadmap ahead of COP28; expects full alignment with the 1.5 degree pathway, including the exclusion of blue hydrogen infrastructure and road and highway financing, and the requirement to conduct a solid assessment of less carbon-intensive alternatives and ‘Scope 3’ emissmphasises, however, that climate ambitions should not call into question the need to achieve an adequate level of energy security in order to successfully achieve a fast and stable independence of European countries from the Russian Federations;
2023/04/03
Committee: BUDG
Amendment 34 #

2022/2062(INI)

Draft opinion
Paragraph 5
5. Reiterates itStresses that if the Parliament's call to work only with clients and financial intermediaries that have credible decarbonisation plans; opposes the exemptions granted under the Paris Alignment for Counterparties (PATH) framework in support of REPowerEU; calls for a halt to fossil fuel financing deemed credible is accepted, there will inevitably be additional costs for European citizens, at a time in which they are already facing the consequences of an unprecedented increase in energy prices;
2023/04/03
Committee: BUDG
Amendment 57 #

2022/2062(INI)

Draft opinion
Paragraph 7
7. Is concerned that the EIB has, at least once, failed to conduct a full inquiry into allegations of bribery and misuse of funds involving a financial intermediary outside the EU; calls on the EIB to reopen all such cases and to disclose annually the rate of recovery of funds lent in the event of proven fraud;
2023/04/03
Committee: BUDG
Amendment 58 #

2022/2062(INI)

Draft opinion
Paragraph 7
7. Is concerned that the EIB has, at least once, failed to conduct a full inquiry into allegations of bribery and misuse of funds involving a financial intermediary outside the EU; calls on the EIB to reopen all such cases and to freeze projects where credible suspicions of lawbreaking are raised;
2023/04/03
Committee: BUDG
Amendment 59 #

2022/2062(INI)

Draft opinion
Paragraph 7 a (new)
7 a. Is concerned about the accusation of the EIB failing to properly investigate allegations of the fraudulent use of 48 million euros of its funds by now bankrupt Kenyan construction company Spencon1a; regrets the decision of the EIB to not examine a whistle-blower's data case despite acknowledging evidence of possible embezzlement; is concerned about OLAF´s reluctance to analyse the evidence, citing insufficient grounds to investigate; _________________ 1a https://www.ft.com/content/cdda4973- 3957-45c2-b3ff-dc80218323de
2023/04/03
Committee: BUDG
Amendment 60 #

2022/2062(INI)

Draft opinion
Paragraph 7 a (new)
7 a. Notes with concern the continued increase in administrative overheads, which is mainly due to the rise in staff related costs; calls on the EIB to exercise cost discipline and to preserve the flexibility and efficiency of its management structure;
2023/04/03
Committee: BUDG
Amendment 62 #

2022/2062(INI)

Draft opinion
Paragraph 7 b (new)
7 b. Calls on the EIB to reopen the fraud case against ECP Africa, to explain how it botched the initial investigation and to look into significant new evidence supporting this, which was not reviewed as part of the initial investigation;
2023/04/03
Committee: BUDG
Amendment 69 #

2022/2062(INI)

Draft opinion
Paragraph 9
9. Is concerned that the transparency 9. and harm prevention of EIB intermediated investments have fallen behind other public financial institutions, rating only fair on the 2022 Aid Transparency Index3; recalls that the EIB’s 2021 Transparency Policy runs counter to the presumption of disclosure; urges the EIB to swiftly implement the European Ombudsman’s recommendations of 21 April 20224.; calls for the timely publication of the minutes of the EIB's Broad of Directors; _________________ 3 Publish What You Fund, 2022 Aid Transparency Index, 2022. 4 Decisions of the European Ombudsman of 21 April 2022 in Cases 1065/2020/PB, 1251/2020/PB and 1252/2020/PB.
2023/04/03
Committee: BUDG
Amendment 104 #

2022/2061(INI)

Motion for a resolution
Paragraph 3
3. Stresses that the EU should fairly and fully implement the Basel III reform in a timely mannerwith the necessary transitional periods to avoid negative impacts on the European banking system, and levelling the playing field with other jurisdictions ;
2023/02/20
Committee: ECON
Amendment 129 #

2022/2061(INI)

Motion for a resolution
Paragraph 5
5. Welcomes the climate stress test conducted by the SSM in 2022 and takes note of the targets set for 2024;deleted
2023/02/20
Committee: ECON
Amendment 170 #

2022/2061(INI)

Motion for a resolution
Paragraph 9
9. Notes that since the beginning of 2022, the Common Equity Tier 1 ratio of SSM banks has decreased to 14.96 % and the liquidity coverage ratio has also decreased to 164.36 %5 ; welcomes that the stock of non-performing loans in banks’ balance sheets has continued to decrease; underlines that banks should keep sufficient capital and liquid assets on hana proper calibration between supervisory requests, and temporary targeted regulation relaxation is needed to cope with the economic repercussions of the Russian war; _________________ 5 ECB, ‘Publication of supervisory data’, accessed 15 December 2022.
2023/02/20
Committee: ECON
Amendment 189 #

2022/2061(INI)

Motion for a resolution
Paragraph 11
11. Notes that banks’ exposures to domestic sovereign debt remain high; recalls that one of the main objectives of the BU is to break the link between bank and sovereign risks;deleted
2023/02/20
Committee: ECON
Amendment 202 #

2022/2061(INI)

Motion for a resolution
Paragraph 12
12. Highlights that banks have a crucial role to play in enabling the transition towards a sustainable economy; calls for environmental, social and governance (ESG) risks to be included in the prudential framework;deleted
2023/02/20
Committee: ECON
Amendment 214 #

2022/2061(INI)

Motion for a resolution
Paragraph 13
13. Recalls that as part of its ‘strategy for financing the transition to a sustainable economy’, the Commission pledged to ‘take action to ensure the inclusion of relevant ESG factors in credit ratings’;deleted
2023/02/20
Committee: ECON
Amendment 227 #

2022/2061(INI)

Motion for a resolution
Paragraph 15
15. Stresses the risks stemming from banks’ exposures to the shadow-banking sector; calls on supervisory authorities to carefully monitor financial risks related to shadow banking, and to take action where necessary; underlines the systemic risks resulting from interconnections and complexity, underpinning the ‘too big to fail problem’;
2023/02/20
Committee: ECON
Amendment 231 #

2022/2061(INI)

Motion for a resolution
Paragraph 15 a (new)
15 a. Calls on supervisors to carefully monitor the professionalism and generational turnover aspects of governance, especially with regard to smaller banks;
2023/02/20
Committee: ECON
Amendment 241 #

2022/2061(INI)

Motion for a resolution
Paragraph 16 a (new)
16 a. Insists on the advantages deriving from the incentive for a well-supervised local banking systems on the territories of the European Union, with the aim of promoting the credit system through knowledge of the productive fabrics and supporting the needs of SMEs networks;
2023/02/20
Committee: ECON
Amendment 269 #

2022/2061(INI)

Motion for a resolution
Paragraph 21
21. Calls on the Commission to put forward an ambitious and comprehensive review of the crisis management and deposit insurance framework; recalls that protecting taxpayer money is one of the main objectives of the resolution framework; considers it is necessary to have an EU liquidation regime based on an enhanced role of preventive and alternative interventions of deposit guarantee schemes for banks for which the SRB considers that there is no public interest in resolution
2023/02/20
Committee: ECON
Amendment 7 #

2022/2059(INI)

Draft opinion
Citation 4 a (new)
– having regard to Regulation (EU) 2021/1139 of the European Parliament and of the Council of 7 July 2021 establishing the European Maritime, Fisheries and Aquaculture Fund,
2022/12/09
Committee: PECH
Amendment 8 #

2022/2059(INI)

Draft opinion
Citation 4 b (new)
– having regard to Directive 2014/89/EU of the European Parliament and of the Council of 23 July 2014 establishing a framework for maritime spatial planning,
2022/12/09
Committee: PECH
Amendment 9 #

2022/2059(INI)

Draft opinion
Citation 4 c (new)
– having regard to the European Parliament resolution of 22 November 2012 on small-scale coastal fishing, artisanal fishing and the reform of the common fisheries policy,
2022/12/09
Committee: PECH
Amendment 10 #

2022/2059(INI)

Draft opinion
Citation 4 d (new)
– having regard to the European Parliament resolution of 16 September 2021 on ‘Fishers for the future: Attracting a new generation of workers to the fishing industry and generating employment in coastal communities’,
2022/12/09
Committee: PECH
Amendment 11 #

2022/2059(INI)

Draft opinion
Citation 4 e (new)
– having regard to the publication of the Scientific, Technical and Economic Committee for Fisheries (STECF) of 26 September2019 entitled ‘Social data in the EU fisheries sector (STECF-19-03)’,
2022/12/09
Committee: PECH
Amendment 12 #

2022/2059(INI)

Draft opinion
Citation 4 f (new)
– having regard to the Ministerial Declaration on an action plan for small-scale fisheries in the Mediterranean and the Black Sea, signed in Malta on 26 September 2018 by 18 countries and the European Union, which sets the target of ensuring long-term environmental, economic and social sustainability for small-scale fisheries within the next decade (2018-2028) through concrete and coherent measures to address challenges and reinforce opportunities,
2022/12/09
Committee: PECH
Amendment 13 #

2022/2059(INI)

Draft opinion
Citation 4 g (new)
– having regard to the 2018 study by the Organization for Economic Co- operation and Development (OECD) entitled ‘Relative Effects of Fisheries Support Policies’,
2022/12/09
Committee: PECH
Amendment 14 #

2022/2059(INI)

Draft opinion
Citation 4 h (new)
– having regard to the Fisheries Committee study entitled ‘Impacts of the COVID-19 pandemic on EU fisheries and aquaculture’ of July 2021,
2022/12/09
Committee: PECH
Amendment 29 #

2022/2059(INI)

Draft opinion
Recital O (new)
O. whereas there have been changes in water temperatures in recent years, with these increasing significantly in the Mediterranean, which is impacting strongly on fish stocks and on the health of the seas;
2022/12/09
Committee: PECH
Amendment 30 #

2022/2059(INI)

Draft opinion
Recital P (new)
P. whereas there is a need to ensure that the possible and necessary exploitation of the many other assets of the maritime space – energy, mining, nautical or tourist activities, and even offshore aquaculture, among others – does not undermine the guarantee of fishers’ historic rights of access to exploitation of the sea;
2022/12/09
Committee: PECH
Amendment 31 #

2022/2059(INI)

Draft opinion
Recital Q (new)
Q. whereas the EMFAF Regulation imposes an obligation on the Member States to take into account the specific needs of small-scale coastal fishing when carrying out the analysis of the situation in terms of strengths, weaknesses, opportunities and threats referred to in the Regulation;
2022/12/09
Committee: PECH
Amendment 32 #

2022/2059(INI)

Draft opinion
Recital R (new)
R. whereas the Mediterranean is an enclosed sea and the status of the water and the ecosystems depends not only on the behaviour of Community operators but on the joint policies of all the countries bordering it, which share the same sea basin;
2022/12/09
Committee: PECH
Amendment 33 #

2022/2059(INI)

Draft opinion
Recital S (new)
S. whereas women play an important role in the fisheries and aquaculture sector, and whereas there is a need to increase their visibility and ensure equal access to employment in the sector, as well as appropriate legal recognition;
2022/12/09
Committee: PECH
Amendment 42 #

2022/2059(INI)

Draft opinion
Paragraph 1
1. Stresses that the development of the blue economy in the Mediterranean will inevitably increase competition for the use of marine and coastal space and resources; calls for the full deployment of ecosystem- based integrated coastal zone management (ICZM) and maritime spatial planning (MSP) as tools to avoid conflicts and promote harmonious sustainable development across the Mediterranean, while not forgetting the various socio-economic needs of coastal communities;
2022/12/09
Committee: PECH
Amendment 44 #

2022/2059(INI)

Draft opinion
Paragraph 1 – point 1 (new)
Highlights that Marine Spatial Planning (MSP) is key in ensuring participation of all stakeholders to decisions concerning the use and protection of the marine environment; highlights that MSP is a key tool to ensure the participation of small- scale fishers in the decision-making process;
2022/12/09
Committee: PECH
Amendment 45 #

2022/2059(INI)

Draft opinion
Paragraph 1 – subparagraph 1 (new)
Stresses the importance of protecting jobs in the fisheries and aquaculture sectors, so that decisions that are overly protective of resources do not have an excessive impact on those working on board or on fishing enterprises;
2022/12/09
Committee: PECH
Amendment 47 #

2022/2059(INI)

Draft opinion
Paragraph 1 a (new)
1a. Points to the rising water temperatures in the Mediterranean Sea and the need to adopt measures to mitigate and adapt to the effects of climate change;
2022/12/09
Committee: PECH
Amendment 53 #

2022/2059(INI)

Draft opinion
Paragraph 2 – subparagraph 1 (new)
Believes that local management initiatives involving co-management should be considered eligible for EMFAF funding;
2022/12/09
Committee: PECH
Amendment 54 #

2022/2059(INI)

Draft opinion
Paragraph 2 a (new)
2a. 1. Takes the view that the future of small-scale, coastal and artisanal fishing depends on its long-term and sustainable profitability but also on immediate, meaningful and effective measures to enhance the profession’s attractiveness and provide training for young people and to improve operating conditions, especially to facilitate the inclusion of women on board fishing vessels; calls on the Commission, therefore, within the framework of the EMFAF and in close cooperation with Member States’ producer organisations, guilds and managing authorities, to establish and put into effect support mechanisms for small- scale, artisanal and coastal fisheries that make it possible to tackle the specific problems in this part of the sector;
2022/12/09
Committee: PECH
Amendment 56 #

2022/2059(INI)

Draft opinion
Paragraph 2 b (new)
2b. Stresses that the EU lacks a tool to understand the extent of EMFF and EMFAF investments in the small-scale fisheries sector, the number of good practices funded, the delivery of concrete results or how fisheries local action groups are working towards effectively implementing the CFP; calls on the Commission to establish such a tool as a fundamental step in understanding how to scale up good practices and replicate commendable fishing methods at EU level;
2022/12/09
Committee: PECH
Amendment 59 #

2022/2059(INI)

Draft opinion
Paragraph 2 c (new)
2c. Criticises, in this regard, the fact that the new EMFAF does not allow for the modernisation of obsolete boats in order to make them more environmentally sustainable;
2022/12/09
Committee: PECH
Amendment 61 #

2022/2059(INI)

Draft opinion
Paragraph 2 d (new)
2d. Stresses the importance attached to territoriality, and points out that the characteristics and needs of fishing fleets and zones in the Mediterranean vary from one country to another, but also from one region to another within the same State;
2022/12/09
Committee: PECH
Amendment 62 #

2022/2059(INI)

Draft opinion
Paragraph 2 e (new)
2e. Believes that small-scale fishers and those in the most vulnerable situations require ad hoc forms of financial assistance and support, in order to help fishers enter new market segments, limit the economic and social gap between north and south and avoid undermining fishing activities and employment in the sector;
2022/12/09
Committee: PECH
Amendment 68 #

2022/2059(INI)

Draft opinion
Paragraph 3
3. Believes that the governance of the Mediterranean could be improved through better coordination and the setting up of a dedicated operational instrument for the development of an integrated and sustainable blue economy strategy which, in order to truly optimise the strategy, should also involve fishers as experts in the sea and its dynamics;
2022/12/09
Committee: PECH
Amendment 73 #

2022/2059(INI)

Draft opinion
Paragraph 3 a (new)
3a. Points out that illegal, unregulated and unreported fishing remains a threat to the survival of many species; firmly believes that the development of a blue economy can support sustainable and inclusive development and quality jobs;
2022/12/09
Committee: PECH
Amendment 79 #

2022/2059(INI)

Draft opinion
Paragraph 4
4. Calls for the deployment of a macro-regional strategy at the scale of the entire Mediterranean basin, dedicated to climate change mitigation, environmental conservation and the sustainable development of the blue economy; believes that such a strategy could be used more specifically to foster circular economy projects in the fisheries sector; address plastic pollution; protect biodiversity; enhance relations with third countries with respect to illegal, unreported and unregulated fishing; contribute to solving usage conflicts through adequate maritime spatial planning; preserve the socio- economic contribution of fisheries to the well-being of coastal communities, in particular in islands and the most socially vulnerable areas; promote stock management measures across the Mediterranean basin; encourage third countries to implement maritime protected areas in their territorial waters; provide for the sustainable economic development of the fisheries and aquaculture sector, in particular with respect to transformation and commercialisation; and support the diversification of fishers’ activities, including retraining and reskilling and prevent the financial burden from falling on fishers.
2022/12/09
Committee: PECH
Amendment 82 #

2022/2059(INI)

Draft opinion
Paragraph 4
4. Calls for the deployment of a macro-regional strategy at the scale of the entire Mediterranean basin, dedicated to climate change mitigation, environmental conservation and the sustainable development of the blue economy; believes that such a strategy could be used more specifically to foster circular economy projects in the fisheries sector; address plastic pollution; protect biodiversity; enhance relations with third countries with respect to illegal, unreported and unregulated fishing; contribute to solving usage conflicts through adequate maritime spatial planning; preserve the socio- economic contribution of fisheries to the well-being of coastal communities, in particular in islands; promote stock management measures across the Mediterranean basin; encourage third countries to implement maritime protected areas in their territorial waters; provide for the sustainable economic development of the fisheries and aquaculture sector, in particular with respect to transformation and, commercialisation and reduced dependence on imports from third countries; and support the diversification of fishers’ activities, including retraining, reskilling and greskillater participation of women and young people across the supply chaing.
2022/12/09
Committee: PECH
Amendment 86 #

2022/2059(INI)

Draft opinion
Paragraph 4 a (new)
4a. Calls on the Commission to demand and monitor the same sustainability standards for imported products too;
2022/12/09
Committee: PECH
Amendment 43 #

2022/2051(INL)

Draft opinion
Paragraph 2 – point 6 a (new)
6a. Article 325(4) TFEU shall be amended to impose full budgetary accountability of the NGOs funded by the EU budget and them being submitted to the annual discharge procedure. According to the "ECA Special report 35/2018: Transparency of EU funds implemented by NGOs, more effort needed", in 2014-2017 the European Commission committed an estimated €11.3 billion for implementation by NGOs in many different EU policy areas such as external action, but the level of transparency in respect of the funds implemented by the NGOs is very limited;
2023/01/18
Committee: BUDG
Amendment 26 #

2022/2006(INI)

Draft opinion
Paragraph 5
5. Recalls that public funding is key to achieving the 2030 climate objectives and addressing oWarns the Commission against over-ambitious climate targets and calls for in-depth studies on ther social and economic challengesectors impacted by the ecological transition; considers that all options to incentivise Member State investments to tackle those challenges should be on the table, specifically the revision of the Stability and Growth Pact to promote a future-oriented economy and the extension of lending and borrowing capacities at EU level, building on NextGenerationEU;
2022/01/14
Committee: BUDG
Amendment 64 #

2022/2006(INI)

Motion for a resolution
Paragraph 1
1. Notes that the European economy is recovering faster than expected from the devastating impact of the global pandemic, although uncertainties remain; underlines the crucial importance that timely policy interventions have played and will continue to play in mitigating the impact of the pandemic on the European economy;
2022/01/20
Committee: ECON
Amendment 75 #

2022/2006(INI)

Motion for a resolution
Paragraph 2
2. Is concerned about emerging new variants, the impact on prices of the European Commission’s Green Deal, localised pandemic lockdowns, increased energy prices, inflationary pressure, supply-side disruptions and emerging labour shortages; notes that these risks could hamper economic growth prospects in the coming months and delay the transition to a more sustainable and future-proof economy;
2022/01/20
Committee: ECON
Amendment 134 #

2022/2006(INI)

Motion for a resolution
Paragraph 8
8. Is convinced that the coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance, taking into account national budgets and the RRF, is projected to remain supportive in 2022 to sustain the recovery; agrees with the Commission that Member States with low or medium levels of debt should pursue or maintain a supportive fiscal stance, and that Member States with high levels of debt should use the RRF to finance additional investment to support the recovery, while pursuing a prudent fiscal policy; agrees with the Commission that all Member States should preserve or broadly preserve their national financed investment;
2022/01/20
Committee: ECON
Amendment 186 #

2022/2006(INI)

Motion for a resolution
Paragraph 10
10. Highlights that the RRF presents an unprecedented and uniqueimpact of the RRF on investment will be marginal compared to the contribution of national expenditure, although it presents an opportunity for all Member States to address part of the key structural challenges and investment needs and insists that all recovery and resilience plans address all requirements of the RRF Regulation, in particular the six pillars; highlights the interplay between the European Semester and the RRF; calls on the Member States to make the most of this opportunity and to use it to transform their economies and make them sustainable, more competitive and more resilient to future shocks; highlights the role of the European Parliament in the implementation of the RRF, as enshrined in the RRF Regulation;
2022/01/20
Committee: ECON
Amendment 217 #

2022/2006(INI)

Motion for a resolution
Paragraph 12
12. Notes that many Member States are having to contend with old and new structural challenges that are hindering their growth potential; highlights, therefore, that tackling structural challenges is crucial for a sustainable recovery and continued growth; takes the view that implementing reforms economically and socially sustainable to address old and new structural vulnerabilities is key not only to improving the ability to withstand and cope with existing challenges, but also to accomplishing the twin transitions in a sustainable, fair and inclusive manner and to reducing social inequalities; points to the lack of national ownership as one of the main weaknesses in enacting reforms aimed at addressing structural deficiencies;
2022/01/20
Committee: ECON
Amendment 225 #

2022/2006(INI)

Motion for a resolution
Paragraph 13
13. Is concerned that the Commission identified macroeconomic vulnerabilities related to imbalances and excessive imbalances in 12 Member States; is worried that the nature and source of Member States’ imbalances remain largely the same as before the pandemic, as many mistakes were made in the management of the severe financial crisis, and that the pandemic could also be exacerbating imbalances and economic divergences; calls on the Member States to preserve national investments, which has been and will be the main tools for recovery, and to take advantage of the unprecedented opportunity provided by the RRF to significantly reduce existing macroeconomic imbalances, in particular by including ambitious reform measures economically and socially sustainable in the national plans of all Member States; stresses that sound execution is essential to make full use of this opportunity;
2022/01/20
Committee: ECON
Amendment 241 #

2022/2006(INI)

Motion for a resolution
Paragraph 14
14. Recognises the importance of the macroeconomic imbalance procedure in identifying, preventing and addressing macroeconomic imbalances in the EU; highlights that excessive current account surpluses in the balance of payments have not been adequately addressed in the past, that continuous monitoring and vigilance will be needed and that Member States should address emerging imbalances through reforms, economically and socially sustainable, that enhance economic and social resilience and promote the digital transformation and green and just transitions;
2022/01/20
Committee: ECON
Amendment 2 #

2022/2003(INI)

Motion for a resolution
Citation 6
— having regard to the Commission communication of 11 December 2019 on the European Green Deal (COM(2019)0640),deleted
2022/11/14
Committee: PECH
Amendment 6 #

2022/2003(INI)

Motion for a resolution
Recital B
B. whereas Regulation (EU) No 1380/2013 of the European Parliament and of the Council of 11 December 2013 on the Common Fisheries Policy, states in recital 14 that ‘it is important for the management of the CFP to be guided by principles of good governance. Those principles include decision-making based on best available scientific advice, broad stakeholder involvement and a long-term perspective’1, fishers being the principal stakeholders; _________________ 1 https://eur-lex.europa.eu/legal- content/EN/ALL/?uri=CELEX%3A32013 R1380
2022/11/14
Committee: PECH
Amendment 8 #

2022/2003(INI)

Motion for a resolution
Recital C
C. whereas the European Green Pact and the 2030 Biodiversity Strategy include specific commitments and actions, among which is the establishment of a wider network of protected areas on land and at sea across the EU, with the expansion of Natura 2000 areas, and that the proposed EU Nature Restoration Act proposes to apply legally binding targets for nature restoration to all Member States for at least 20% of the EU’s land and marine areas by 2030, ultimately covering all ecosystems in need of restoration by 2050;deleted
2022/11/14
Committee: PECH
Amendment 12 #

2022/2003(INI)

Motion for a resolution
Recital E
E. whereas there are also numerous success stories in EU candidatethird countries such as Türkiye5 (the EU SMAP III project, completed in 2009 in Gokova Bay, and the next project SAD-Rubicon6); in third countries, such as, Senegal with co- management of octopus and green lobster fisheries7, and in Asia, in countries such as Bangladesh, Cambodia, the Philippines, Sri Lanka,8, etc.; _________________ 5 https://www.proquest.com/openview/797b e3d336f18ec8f2382df02a76e1e5/1?pq- origsite=gscholar&cbl=1736342 6 https://www.researchgate.net/publication/2 79419535_Socio- economic_benefits_of_Gokova_SEPA_Tur key_Special_emphasize_to_small- scale_fisheries 7 https://www.fishforward.eu/wp- content/uploads/2018/01/WWF_Senegal_ ENSP.pdf 8 https://www.fao.org/3/cb3840en/cb3840en. pdf
2022/11/14
Committee: PECH
Amendment 23 #

2022/2003(INI)

Motion for a resolution
Recital G
G. whereas traditional managementhe Common Fisheries Policy has not had the desired effects on improving stocks and maintaining employment;
2022/11/14
Committee: PECH
Amendment 25 #

2022/2003(INI)

Motion for a resolution
Recital G a (new)
Ga. whereas many of the policies implemented by the European Commission in recent years have failed to bring about the desired replenishment of stocks but have, on the contrary, resulted in further depletion, necessitating increased imports from third countries;
2022/11/14
Committee: PECH
Amendment 26 #

2022/2003(INI)

Motion for a resolution
Recital H
H. whereas fisheries management cannot be separated from other aspects associated with the marine environment and coastal populations, such as economic, cultural and social aspects, as set out in Article 2 of the objectives of the Common Fisheries Policy, and as referred to throughout Regulation (EU) No 1380/2013, these being the three mainstays of the common fisheries policy;
2022/11/14
Committee: PECH
Amendment 27 #

2022/2003(INI)

Motion for a resolution
Recital I
I. whereas it is frequently difficult to obtain and collect data and information on marine environments and fisheries, and whereas the participation of the fisheries sector itself in this work is important, on a proactive basis also, is vital for all public and private research bodies at national and European level, as laid down in Article 25 of the Common Fisheries Policy in Regulation (EU) No 1380/2013Regulation (EU) No 1380/2013 on the Common Fisheries Policy; to this end, the importance of a bottom-up approach to fisheries management is underlined as regards both data collection and policy making;
2022/11/14
Committee: PECH
Amendment 29 #

2022/2003(INI)

Motion for a resolution
Recital I
I. whereas it is difficult to obtain and collect data and information on marine environments and fisheries, and whereas the participation of the fisherifisheries sector stakeholders should be consulted to a greater extent by public and private research bodies at European level, as their involvement is es sector itself in this work is important for all public and private research bodies at European levelntial in order to collect data and information on marine environments and fisheries, as laid down in Article 25 of the Common Fisheries Policy in Regulation (EU) No 1380/2013;
2022/11/14
Committee: PECH
Amendment 30 #

2022/2003(INI)

Motion for a resolution
Recital J
J. whereas, in all the cases of co- management mentioned above, the change in the role of fishers – from passive subjects who comply with the rules to protagonists in fisheries management – is fundamental to the success of the initiatives adopted, as they learn to understand the importance of the rules, to defend them and monitor compliance with them, and to manage their fishing methods in an ecosystem-based approach, understanding the importance of their fisheries in the ecosystems; in this regard, the role of fishers as 'guardians of the sea' is underlined through their contribution to targeted policy making, the reduction of marine litter and the collection of plastic at sea, for example;
2022/11/14
Committee: PECH
Amendment 31 #

2022/2003(INI)

Motion for a resolution
Recital J
J. whereas, in all the cases of co- management mentioned above, the change in the role of fishers – from passive subjects who comply with the rules to protagonists in fisheries management – is fundamental to the success of the initiatives adopted, as they learn to understand the importance of the rules, to defend them and monitor compliance with them, and to manage their fishing methods in an ecosystem-based approach, understanding, in keeping with their traditional role as stewards of the oceans and their resources, they are better able to make the most of their experience and observations so as to decide on conservation rules and monitor compliance with them in order to limit the importanceact of their fisheries in theing on ecosystems;
2022/11/14
Committee: PECH
Amendment 36 #

2022/2003(INI)

Motion for a resolution
Recital K
K. whereas scientific work isand socio- economic impact studies are needed to advise on the measures to be taken to ensure responsible use of common resources, as laid down in Articles 26 and 27 of the Common Fisheries Policy in Regulation (EU) No 1380/2013;
2022/11/14
Committee: PECH
Amendment 39 #

2022/2003(INI)

Motion for a resolution
Recital M
M. whereas the White Paper on the Governance of the European Union establishes that Policies should no longer be decided at the top, that the legitimacy of the EU now lies with the participation of its citizens through a bottom-up approach and that the system of functioning of the Union needs to be made more transparent since participation depends on people being able to understand and take part in public debate; for this to happen, the general public needs to be more actively and continuously informed about European issues on an institutional basis; whereas the White Paper also proposes the involvement of local-government associations in policy development and greater flexibility in the implementation of certain Community policies with a strong social, economic and territorial impact;
2022/11/14
Committee: PECH
Amendment 49 #

2022/2003(INI)

Motion for a resolution
Paragraph 3
3. Points out that co-management has been proven to favour consensual decision- making between the administration, the sector and research bodies, which always act in accordance with the principles of the Common Fisheries Policy and other relevant regulations, applying the precautionary approach in all cases to ensure that resources are exploited in a manner that is fully sustainable on the basis of the maximum sustainable yield of the target species;
2022/11/14
Committee: PECH
Amendment 53 #

2022/2003(INI)

Motion for a resolution
Paragraph 4
4. Emphasises the fact that co- management systems function at the level of fisheries, taking into account the environment in which they operate, thus applying a holistic approach;
2022/11/14
Committee: PECH
Amendment 69 #

2022/2003(INI)

Motion for a resolution
Paragraph 8
8. Stresses that the lack of specific Community legislation for the implementation of fisheries co- management systems hinders their use in the management of fisheries in the Member States, as this depends solely and exclusively on the specific commitment of the competent authorities; to this end, the EU could play a useful coordinating role for the sharing of best practices;
2022/11/14
Committee: PECH
Amendment 76 #

2022/2003(INI)

Motion for a resolution
Paragraph 10
10. Asks the Commission for a non- binding regulatory framework on fisheries co- management, which is directly applicable in the Member States;
2022/11/14
Committee: PECH
Amendment 110 #

2022/2003(INI)

Motion for a resolution
Paragraph 16
16. Notes that global fisheries management is mainly based on a top- down state-centred approach, focused on industrial or large-scale fisheries, economic efficiency, environmental sustainability, and is guided by scientific research in marine biology; considers that this approach would not be validbe unhelpful, not to say harmful, for small- scale fisheries that need the bottom-up involvement of the fishing community in fisheries management tools, and that it has not been the best approach with regard to semi- industrial and industrial fisheries globally;
2022/11/14
Committee: PECH
Amendment 153 #

2022/0411(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b – point i
Regulation (EU) 2017/1129
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;
2023/07/13
Committee: ECON
Amendment 155 #

2022/0411(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b – point iv
Regulation (EU) 2017/1129
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.
2023/07/13
Committee: ECON
Amendment 158 #

2022/0411(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point c – point i – point 1
Regulation (EU) 2017/1129
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;
2023/07/13
Committee: ECON
Amendment 161 #

2022/0411(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point c – point i – point 1
Regulation (EU) 2017/1129
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;;
2023/07/13
Committee: ECON
Amendment 163 #

2022/0411(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point c – point i – point 2
Regulation (EU) 2017/1129
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).
2023/07/13
Committee: ECON
Amendment 175 #

2022/0411(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 3
Regulation (EU) 2017/1129
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.
2023/07/13
Committee: ECON
Amendment 182 #

2022/0411(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 6 – point c
Regulation 2017/1129
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.
2023/07/13
Committee: ECON
Amendment 199 #

2022/0411(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 10 – point a – point i
Regulation 2017/1129
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.;
2023/07/13
Committee: ECON
Amendment 208 #

2022/0411(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 12
Regulation 2017/1129
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.
2023/07/13
Committee: ECON
Amendment 214 #

2022/0411(COD)

Proposal for a regulation
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.
2023/07/13
Committee: ECON
Amendment 224 #

2022/0411(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 17 – point b a (new)
Regulation 2017/1129
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."
2023/07/13
Committee: ECON
Amendment 261 #

2022/0411(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point a
Regulation (EU) No 596/2014
Article 18 – paragraph 1
(a) paragraph 1 is replaced by the following: ‘ 1. Issuers shall: (a) due to the nature of their function or position within the issuer, have regular access to inside information (permanent insider list); (b) insider list in accordance wideleted draw up a list of all persons who, promptly update the permanent provide the paragraph 4; and (c) to the competent authority as soon as possible upon its request.; ’ermanent insider list
2023/07/13
Committee: ECON
Amendment 270 #

2022/0411(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point b
Regulation (EU) No 596/2014
Article 18 – paragraph 1a and 1b
(b) the following paragraphs 1a and 1b are inserted: ‘ 1a. behalf or on the issuer’s account shall draw up its own list of all persons having access to inside information that directly concerns that issuer. Paragraph 1, points (b) and (c), shall apply. 1b. paragraph 1, and where justified by specific national market integrity concerns, Member States may require issuers whose securities have been admitted to trading on a regulated market for at least the last 5 years to draw up a list of all persons having access to inside information and working for them under a contract of employment, or otherwise performing tasks through which they have access to inside information, including advisers, accountants or credit rating agencies (full insider list). Paragraph 1, points (b) and (c), shall apply.; ’deleted Any person acting on the issuer’s By way of derogation from
2023/07/13
Committee: ECON
Amendment 278 #

2022/0411(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point d
Regulation (EU) No 596/2014
Article 18 – paragraph 6
(d) paragraph 6 is deleted;
2023/07/13
Committee: ECON
Amendment 281 #

2022/0411(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point e
Regulation (EU) No 596/2014
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.
2023/07/13
Committee: ECON
Amendment 288 #

2022/0411(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 7 – point a
Regulation (EU) No 596/2014
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.
2023/07/13
Committee: ECON
Amendment 295 #

2022/0411(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 10
Regulation (EU) No 596/2014
Article 25a – Title
Article 25a Mechanism to exchange order bookand quote data
2023/07/13
Committee: ECON
Amendment 298 #

2022/0411(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 10
Regulation (EU) No 596/2014
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.
2023/07/13
Committee: ECON
Amendment 301 #

2022/0411(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 10
Regulation (EU) No 596/2014
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:
2023/07/13
Committee: ECON
Amendment 304 #

2022/0411(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 10
Regulation (EU) No 596/2014
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.
2023/07/13
Committee: ECON
Amendment 305 #

2022/0411(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 10
Regulation (EU) No 596/2014
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.
2023/07/13
Committee: ECON
Amendment 307 #

2022/0411(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 10
Regulation (EU) No 596/2014
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.
2023/07/13
Committee: ECON
Amendment 312 #

2022/0411(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 13 – point a – point i a (new)
Regulation (EU) No 596/2014
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;"
2023/07/13
Committee: ECON
Amendment 315 #

2022/0411(COD)

Proposal for a regulation
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)
(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;
2023/07/13
Committee: ECON
Amendment 317 #

2022/0411(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 13 – point a – point ii
Regulation 2017/1129
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);
2023/07/13
Committee: ECON
Amendment 320 #

2022/0411(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 13 – point a – point ii a (new)
Regulation (EU) No 596/2014
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.;"
2023/07/13
Committee: ECON
Amendment 324 #

2022/0411(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 1 a (new)
Regulation (EU) 600/2014
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.
2023/07/13
Committee: ECON
Amendment 326 #

2022/0411(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 2
Regulation (EU) 600/2014
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.
2023/07/13
Committee: ECON
Amendment 335 #

2022/0411(COD)

Proposal for a regulation
Annex I
XI. Working capital statement Statement by the issuer that, in its opinion, the working capital is sufficient for the issuer’s present requirements or, if not, how the issuer proposes to provide the additional working capital needed.deleted
2023/07/13
Committee: ECON
Amendment 209 #

2022/0407(CNS)

Proposal for a directive
Article 4 – paragraph 1 – point 4
Directive 2006/112/EC
Article 222 – paragraph 1
For supplies of goods carried out in accordance with the conditions specified in Article 138 or for supplies of goods or services for which VAT is payable by the customer pursuant to Articles 194 and 196, an invoice shall be issued no later than 12 working days following the chargeable event.;
2023/06/20
Committee: ECON
Amendment 210 #

2022/0407(CNS)

Proposal for a directive
Article 4 – paragraph 1 – point 5
(5) Article 223 is deleted;
2023/06/20
Committee: ECON
Amendment 214 #

2022/0407(CNS)

Proposal for a directive
Article 4 – paragraph 1 – point 6 – introductory part
(6) In Article 226, the following points (16), (17) and (18) are is added:
2023/06/20
Committee: ECON
Amendment 215 #

2022/0407(CNS)

Proposal for a directive
Article 4 – paragraph 1 – point 6
Directive 2006/112/EC
Article 226 – paragraph 1 – point 17
(17) the IBAN number of the supplier’s bank account to which the payment for the invoice will be credited. If the IBAN number is not available, any other identifier which unambiguously identifies the bank account to which the invoice will be credited;deleted
2023/06/20
Committee: ECON
Amendment 218 #

2022/0407(CNS)

Proposal for a directive
Article 4 – paragraph 1 – point 6
Directive 2006/112/EC
Article 226 – paragraph 1 – point 18
(18) The date on which the payment of the supply of goods or services is due or, where partial payments are agreed, the date and amount of each payment.;deleted
2023/06/20
Committee: ECON
Amendment 220 #

2022/0407(CNS)

Proposal for a directive
Article 4 – paragraph 1 – point 10
The data referred to in Article 262(1) shall be transmitted for each individual transaction carried out by the taxable person no later than 12 working days after issuing the invoice, or after the date the invoice had to be issued where the taxable person does not comply with the obligation to issue an invoice. The data shall be transmitted by the taxable person or by a third party on that taxable person’s behalf. Member States shall provide for the electronic means for submitting such data.
2023/06/20
Committee: ECON
Amendment 100 #

2022/0406(COD)

Proposal for a directive
Article 5 – paragraph 1 – introductory part
1. Member States shall ensure fair and non-discriminatory treatment of shareholders, as well asthat in companies that have adopted a multiple- vote share structure in accordance with this Directive, appropriate safeguards are in place to provide for adequate protection of the interests of the shareholders who do not hold multiple-vote shares and of the company through appropriate safeguards. To that effect, Member States shall do all of the following:
2023/07/11
Committee: ECON
Amendment 102 #

2022/0406(COD)

Proposal for a directive
Article 5 – paragraph 1 – point a – subparagraph 1
(a) ensure that a company’s decision to adoptmodify a multiple- - vote share structure and any subsequent decision to modify a multiple- vote share structurein a way that affects the voting rights areof shares, is taken by the general shareholders’ meeting of that company and are approved bymeeting by at least a qualified majority as specified in national law.
2023/07/11
Committee: ECON
Amendment 104 #

2022/0406(COD)

Proposal for a directive
Article 5 – paragraph 1 – point a – subparagraph 2
For the purposes of this point, where there are several classes of shares, such decisions shall also be subject to a separate vote forin each class of shareholders whosthe rights of which are affected;. Member States shall also ensure that the multi-vote structure can vary at least in a ratio of one to ten.
2023/07/11
Committee: ECON
Amendment 109 #

2022/0406(COD)

Proposal for a directive
Article 5 – paragraph 1 – point b – introductory part
(b) limit the voting weight ofimpact of the multiple- vote shares on the exercise of other shareholders’ rights, in particular duringdecision-making process at the general meetings, by introducing eitherat least one of the following:
2023/07/11
Committee: ECON
Amendment 115 #

2022/0406(COD)

Proposal for a directive
Article 5 – paragraph 1 – point b – point i
(i) a maximum weighted voting ratio and a requirement on the maximum percentage of the outstanding share capital that tratio of the number of votes rights attached total amount of multiple- vote shares can representto the votes rights attached to shares with the least voting rights;
2023/07/11
Committee: ECON
Amendment 128 #

2022/0406(COD)

Proposal for a directive
Article 5 – paragraph 1 – point b – point ii
(ii) a restriction on the exercise of the enhanced voting rights attached to multiple-vote shares for voting on matters to be decided at the general meeting of shareholders and that require the approval by a qualified majority. quirement that decisions by the general meeting subject to qualified majority, excluding appointment and dismissal of directors as well as operational decisions to be taken by directors and that are submitted to the general meeting for approval, are to be adopted by: - a qualified majority, as specified in national law, of the votes cast at the meeting; or - a qualified majority, as specified in national law, of the votes cast, and are subject to a separate vote in each class of shares the rights of which are affected.
2023/07/11
Committee: ECON
Amendment 135 #

2022/0406(COD)

Proposal for a directive
Article 5 – paragraph 2 – introductory part
2. Member Sstates may provide for further safeguards to ensure adequate protection of shareholders and of the interests of the company. Those safeguards may include in particular:shareholders who do not hold multiple-vote shares.
2023/07/11
Committee: ECON
Amendment 144 #

2022/0406(COD)

Proposal for a directive
Article 5 – paragraph 2 – point a
(a) a provision to avoid that the enhanced voting rights attached to multiple-vote shares are transferred to third parties or continue to exist upon the death, incapacitation or retirement of the original holder of multiple-vote shares (transfer-based sunset clause);deleted
2023/07/11
Committee: ECON
Amendment 151 #

2022/0406(COD)

Proposal for a directive
Article 5 – paragraph 2 – point b
(b) a provision to avoid that the enhanced voting rights attached to multiple-vote shares continue to exist after a designated period of time (time- based sunset clause);deleted
2023/07/11
Committee: ECON
Amendment 158 #

2022/0406(COD)

Proposal for a directive
Article 5 – paragraph 2 – point c
(c) a provision to avoid that the enhanced voting rights attached to multiple-vote shares continue to exist upon the occurrence of a specified event (event-based sunset clause);deleted
2023/07/11
Committee: ECON
Amendment 162 #

2022/0406(COD)

Proposal for a directive
Article 5 – paragraph 2 – point d
(d) a requirement to ensure that the enhanced voting rights cannot be used to block the adoption of decisions by the general shareholders’ meeting aiming at preventing, reducing or eliminating adverse impacts on human rights and the environment related to the company’s operations.deleted
2023/07/11
Committee: ECON
Amendment 229 #

2022/0396(COD)

Proposal for a regulation
Recital 7
(7) The Council underlined in its Conclusions of December 202038, that the revision of Directive 94/62/EC should update and establish more concrete, effective and easy to implement provisions to facilitate sustainable packaging in the internal market and minimise the complexity of packaging in order to foster economically feasible solutions, to improve the reusability and recyclability as well as minimise substances of concern in packaging materials, especially concerning food packaging materials, and to provide for labelling packaging in an easily understandable way to inform consumers about its recyclability and where its waste should be discarded to facilitate sorting and recycling. At the same time it noted that hygiene and food safety standards have to be respected. _________________ 38 https://data.consilium.europa.eu/doc/docu ment/ST-13852-2020-INIT/en/pdf
2023/05/12
Committee: ENVI
Amendment 232 #

2022/0396(COD)

Proposal for a regulation
Recital 8
(8) The European Parliament’s Resolution of 10 February 2021 on the New Circular Economy Action Plan39reiterated the objective of making all packaging reusable or recyclable in an economically viable way by 2030 and called on the Commission to present a legislative proposal including waste reduction measures and targets and ambitious essential requirements in the Packaging and Packaging Waste Directive to reduce excessive packaging, including in e-commerce, improve recyclability and minimise the complexity of packaging, increase recycled content, phase out hazardous and harmful substances, and promote re-use. In addition, it stressed that food safety or hygiene standards must not be compromised. _________________ 39 https://www.europarl.europa.eu/doceo/doc ument/TA-9-2021-0040_EN.html
2023/05/12
Committee: ENVI
Amendment 240 #

2022/0396(COD)

Proposal for a regulation
Recital 11
(11) An item, which is an integral part of a product and is necessary to contain, support or preserve that product throughout its lifetime and where all elements are intended to be used, consumed or disposed of together, should not be considered as being packaging given that its functionality is intrinsically linked to it being part of the product. However, in light of the disposal behaviour of consumers regarding tea and coffee bags as well as coffee or tea system single-serve units, which in practice are disposed of together with the product residue leading to the contamination of compostable and recycling streams, those specific items should be treated as packaging. This is in line with the objective to increase the separate collection of bio-waste, as required by Article 22 of Directive 2008/98/EC of the European Parliament and of the Council41. Furthermore, to ensure coherence regarding end-of-life financial and operational obligations, also all coffee or tea system single-serve units necessary to contain coffee or tea should be treated as packaging. _________________ 41 Directive 2008/98/EC of the European Parliament and of the Council of 19 November 2008 on waste and repealing certain Directives (OJ L 312, 22.11.2008, p. 3).
2023/05/12
Committee: ENVI
Amendment 247 #

2022/0396(COD)

Proposal for a regulation
Recital 12
(12) In line with the waste hierarchy set out in Article 4(21) of Directive 2008/98/EC, and with the requirement set in paragraph 2 of Article 4 of the same Directive, which foresees that specific waste streams may depart from the hierarchy where this is in line with life- cycle thinking to deliver the best overall environmental outcome, the measures provided for under this Regulation aim at reducing the amount of packaging placed on the market in terms of its volume and weight, and preventing the generation of packaging waste, especially through packaging minimisation, avoiding packaging where it is not needed, and increased re-use of packagingand recycling of packaging while delivering the best environmental outcome. In addition, the measures aim at increasing the use of recycled content in packaging, especially in plastic packaging where the uptake of recycled content is very low, as well as higher recycling rates for all packaging and high quality of the resulting secondary raw materials while reducing other forms of recovery and final disposal.
2023/05/12
Committee: ENVI
Amendment 290 #

2022/0396(COD)

Proposal for a regulation
Recital 20
(20) Designing packaging with the objective of its recycling, once it becomes packaging waste, is one the most efficient measures to improve the packaging circularity and raise packaging recycling rates and the use of recycled content in packaging, while ensuring marketing and consumer acceptance. Packaging design for recycling criteria have been established for a number of packaging formats under voluntary industry schemes or by some Member States for the purpose of the modulation of extended producer responsibility fees. In order to prevent barriers to the internal market and provide industry with a level playing field, and with the objective to promote the sustainability of packaging ensuring marketing and consumer acceptance, it is important to set mandatory requirements regarding the recyclability of packaging, by harmonising the criteria and the methodology for assessing packaging recyclability based on a design for recycling methodology at the Union level. In order to meet the objective set out in the CEAP that, by 2030, all packaging should be recyclable or reusable, in an economically viable manner, packaging recyclability performance grades should be established based on design for recycling criteria for packaging categories as listed in Annex II. However, packaging should comply with them only as of 1 January 2030 in order to give sufficient time to the economic operators to adapt.
2023/05/12
Committee: ENVI
Amendment 299 #

2022/0396(COD)

Proposal for a regulation
Recital 21
(21) As design for recycling assessment in itself does not ensure that packaging is recycled in practice, it is necessary to establish a uniform methodology and criteria for assessing the recyclability of packaging in practice based on the state-of- the-art separate collection, sorting and recycling processes and infrastructure actually available in the Union. Related reporting from Member States and, where relevant, economic operators should support establishing the recyclability “at scale” thresholds and update, on this basis, the recyclability performance grades with respect to the specific packaging materials and categories. , preserving the added value conveyed to the final consumer with the packaging.
2023/05/12
Committee: ENVI
Amendment 306 #

2022/0396(COD)

Proposal for a regulation
Recital 22
(22) In order to establish harmonised rules on packaging design to ensure its recyclability while ensuring packaging performs all its functions and ensuring marketing and consumer acceptance, the power to adopt delegated acts should be delegated to the Commission to set out detailed criteria for packaging design for recycling per packaging materials and categories, as well as for the assessment of the packaging recyclability at scale including for categories of packaging not listed in this Regulation. In order to give economic operators and Member States sufficient time to collect and report the necessary data to establish the “at scale” recycling methodology, the manufacturers should ensure that packaging is recycled at scale as of 2035. That should ensure that packaging complies with the design for recycling criteria, and is also recycled in practice on the basis of the state of the art processes for separate collection, sorting and recycling.
2023/05/12
Committee: ENVI
Amendment 313 #

2022/0396(COD)

Proposal for a regulation
Recital 23
(23) In order to stimulate innovation in packaging, it is appropriate to allow that packaging, which presents innovative features resulting in significant improvement in the core function of packaging and has demonstrable environmental benefits, is given limited additional time of five years to comply withexempt from the recyclability requirements. The innovative features should be explained in the technical documentation accompanying the packaging.
2023/05/12
Committee: ENVI
Amendment 316 #

2022/0396(COD)

Proposal for a regulation
Recital 24
(24) In order to protect human and animal health and safety, due to the nature of the packaged products and the related requirements, it is appropriate that the recyclability requirements should not apply to immediate packaging as defined in Article 1 of Directive 2001/83/EC of the European Parliament and of the Council50and in Article 4(25) of Regulation (EU) 2019/6 of the European Parliament and of the Council51, which are in direct contact with the medicinal product, as well as contact sensitive plastic packaging of medical devices covered by Regulation (EU) 2017/745 of the European Parliament and of the Council52andof in vitro diagnostics medical devices covered by Regulation (EU) 2017/746 of the European Parliament and of the Council53.These exemptions should apply until 1 January 2035and contact sensitive packaging for foods covered by Regulation (EC) No 1935/2004 and Regulation (EU) No 609/2013. _________________ 50 Directive 2001/83/EC of the European Parliament and of the Council of 6 November 2001 on the Community code relating to medicinal products for human use (OJ L 311, 28.11.2001, p. 67). 51 Regulation (EU) 2019/6 of the European Parliament and of the Council of 11 December 2018 on veterinary medicinal products and repealing Directive 2001/82/EC (OJ L 4, 7.1.2019, p. 43). 52 Regulation (EU) 2017/745 of the European Parliament and of the Council of 5 April 2017 on medical devices, amending Directive 2001/83/EC, Regulation (EC) No 178/2002 and Regulation (EC) No 1223/2009 and repealing Council Directives 90/385/EEC and 93/42/EEC (OJ L 117, 5.5.2017, p. 1). 53 Regulation (EU) 2017/746 of the European Parliament and of the Council of 5 April 2017 on in vitro diagnostic medical devices and repealing Directive 98/79/EC and Commission Decision 2010/227/EU (OJ L 117, 5.5.2017, p. 176).
2023/05/12
Committee: ENVI
Amendment 332 #

2022/0396(COD)

Proposal for a regulation
Recital 28
(28) In order to ensure a high level of human and animal health protection in accordance with requirements in Union legislation and to avoid any risk to the security of supply and to the safety of medicines and medical devices safety, it is appropriate to provide for the exclusion from the obligation of a minimum recycled content in plastic packaging for immediate packaging as defined in Article 1, point 23, of Directive 2001/83/EC and in Article 4, point 25, of Regulation (EU) 2019/6, as well as for contact sensitive plastic packaging of medical devices covered by Regulation (EU) 2017/745 and for contact sensitive packaging of in vitro diagnostics medical devices covered by Regulation (EU) 2017/746 and of contact sensitive packaging for foods covered by Regulation (EC) No 1935/2004 and Regulation (EU) No 609/2013. This exclusion should also apply to outer packaging of human and veterinary medicinal products as defined in Article 1, point 24, of Directive 2001/83/EC and in Article 4, point 26, of Regulation (EU) 2019/6 in cases where it has to comply with specific requirements to preserve the quality of the medicinal product.
2023/05/12
Committee: ENVI
Amendment 336 #

2022/0396(COD)

Proposal for a regulation
Recital 29
(29) In order to prevent barriers to the internal market and ensure the efficient implementation of the obligations, economic operators should ensure that the plastic part of each unit of packaging contains a certain minimum percentage of recycled content recovered from post- consumer plastic waste calculated as an average of the plastic packaging placed by a producer on the Union market. This provision should not apply to food or feed contact plastic packaging in those cases when the recycled content risks affecting human and animal health and/or compromising the organoleptic characteristics of products.
2023/05/12
Committee: ENVI
Amendment 368 #

2022/0396(COD)

Proposal for a regulation
Recital 35
(35) The bio-waste waste stream is oftencould be contaminated with conventional plastics and the material recycling streams are oftencould be contaminated with compostable plastics. This cross-contamination could leads to waste of traditional and compostable resources, lower quality secondary raw materials and should be prevented at source. As the proper disposal route for compostable plastic packaging is becoming increasingly confusing for consumers, it is justified andTherefore, it is necessary to lay down clear and common rules on the use of compostableand disposal of plastic packaging, mandating it only when its use brings a clear benefit for the environment or for human health. This is particularly the case when the use of compostable packaging helps collect or dispose of bio-wastelabeled as compostable, including the possibility to mandating applications. This is particularly the case when the use of compostable packaging helps collect or recycle of bio-waste. All plastic packaging labeled as compostable shouldn’t go into material recycling.
2023/05/12
Committee: ENVI
Amendment 373 #

2022/0396(COD)

Proposal for a regulation
Recital 36
(36) For limited packaging applications made of biodegradable plastic polymers, there is a demonstrable environmental benefit of using compostable packagingThere is a demonstrable environmental benefit of using compostable packaging for specific packaging applications (e.g., those strictly linked to food and food waste), which enters composting plants, including anaerobic digestion facilities under controlled conditions. Furthermore, where appropriate waste collection schemes and waste treatment infrastructures are available in a Member State as required by Article 22 of Directive 2008/98, there should be a limited flexibility in deciding whether to mandate the use of compostable plastics for lightweight plastic carrier bags on its territory. In order to avoid consumer confusion about the correct disposal and considering the environmental benefit of circularity of the carbon, all other plastic packaging not labeled as compostable should go into material recycling and the design of such packaging should ensure that it does not affect the recyclability of other waste streams.
2023/05/12
Committee: ENVI
Amendment 381 #

2022/0396(COD)

Proposal for a regulation
Recital 38
(38) In order to facilitate conformity assessment with requirements on compostable packaging, it is necessary to provide for presumption of conformity for compostable packaging which is in conformity with harmonised standards adopted in accordance with Regulation (EU) No 1025/2012 of the European Parliament and of the Council56for the purpose of expressing detailed technical specifications of those requirements and take into account, in line with the latest scientific and technological developments, the parameters, including compostquality of the output, proper processingtimes and admissible levels of contamination, which reflect the actual conditions in bio- waste treatment facilities, including anaerobic digestion processes. _________________ 56 Regulation (EU) No 1025/2012 of the European Parliament and of the Council of 25 October 2012 on European standardisation, amending Council Directives 89/686/EEC and 93/15/EEC and Directives 94/9/EC, 94/25/EC, 95/16/EC, 97/23/EC, 98/34/EC, 2004/22/EC, 2007/23/EC, 2009/23/EC and 2009/105/EC of the European Parliament and of the Council and repealing Council Decision 87/95/EEC and Decision No 1673/2006/EC of the European Parliament and of the Council Text with EEA relevance (OJ L 316, 14.11.2012, p. 12).
2023/05/12
Committee: ENVI
Amendment 385 #

2022/0396(COD)

Proposal for a regulation
Recital 39
(39) It should be recalled that all compostable packaging constituting a food contact material is to meet the requirements set out in the Regulation (EC) No 1935/2004.deleted
2023/05/12
Committee: ENVI
Amendment 388 #

2022/0396(COD)

Proposal for a regulation
Recital 40
(40) Packaging should be designed, where relevant for a given shape, so as to minimise its volume and weight while maintaining its ability to perform the packaging functions, including those referred to in Article 3 (1). The manufacturer of packaging should assess the packaging against the performance criteria, as listed in Annex IV of this Regulation. In view of the objective of this Regulation to reduce packaging and packaging waste generation and to improve circularity of packaging across the internal market, it is appropriate to further specify the existing criteria and to make them more stringent. The list of the packaging performance criteria, as listed in the existing harmonised standard EN 13428:200057, should therefore be modified. While marketing and consumer acceptance remain relevant for packaging designpresentation,design and differentiation functionality, they should not be part ofthe mainperformance criteria justifying on their own additional packaging weight and volume. However, this should not compromise product or packagingspecifications for craft and industrial products and food , beveragesand agricultural products that are registered aundprotected under theEU geographical indication protection schemeer or otherwiseprotected by Union intellectual property law orEU geographical indication protection schemes, including third country geographical indication/products that have been given distinctive recognition by the Union, as part of the Union’s objective to protect intellectual property,cultural heritage and traditional know- how.Traditional packaging associated with products that have been given distinctive recognition or are subject to geographical indications of origin protection shall nevertheless look to reduce packaging weight to the lowest weight possible whilst protecting the shape of the packaging in line with the overall ambitions of this proposal. On the other hand, recyclability, the use of recycled content, and re-use may justify additional packaging weight or volume, and should be added to the performance criteria. Packaging with double walls, false bottoms and other characteristics only aimed to increase the perceived product volume should not be placed on the market, as it does not meet the requirement for packaging minimisation. The same rule should apply to superfluous packaging not necessary for ensuring packaging functionality. _________________ 57 Packaging – Requirements specific to manufacturing and composition – Prevention by source reduction.
2023/05/12
Committee: ENVI
Amendment 409 #

2022/0396(COD)

Proposal for a regulation
Recital 44
(44) It is necessary to inform consumers and to enable them to appropriately dispose of packaging waste, including compostable lightweight and very lightweight plastic carrier bags. The most appropriate manner to do this is to establish a harmonised labelling system based on the material composition of packaging for sorting of waste, and to pair it with corresponding labels on waste receptacles. To this end, the Commission and the Member States should provide incentives, including economic ones, especially to micro- enterprises and SMEs.
2023/05/12
Committee: ENVI
Amendment 416 #

2022/0396(COD)

Proposal for a regulation
Recital 47
(47) In order to inform end-users about reusability, availability of systems for re- use and location of collection points as regards reusable packaging, such packaging should bear a QR code or other data carrier that provides such information. The QR code should also facilitate tracking and the calculation of trips and rotations. In addition, reusable sales packaging should be clearly identified at the point of sale. To this end, the Commission and the Member States should provide incentives, including economic ones, especially to micro-enterprises and SMEs.
2023/05/12
Committee: ENVI
Amendment 436 #

2022/0396(COD)

Proposal for a regulation
Recital 61
(61) In order to ensure a high level of environmental protection in the internal market as well as a high level of food safety and hygiene, and facilitate the achievement of the packaging waste prevention targets, unnecessary or avoidable packaging should not be allowed to be placed on the market. The list of such packaging formats is provided in Annex V of this Regulation. In order to adapt the list to the technical and scientific progress the power to adopt acts in accordance with Article 290 of the Treaty should be delegated to the Commission to amend the list.deleted
2023/05/12
Committee: ENVI
Amendment 460 #

2022/0396(COD)

Proposal for a regulation
Recital 67
(67) In order to reduce the increasing proportion of packaging that is single use and the growing amounts of packaging waste generated, it is necessary to establish quantitative re-use and refill targets on packaging in sectors, which have been assessed as having the greatest potential for packaging waste reduction, namely food and beverages for take-away, large- white goods and some transport packaging. This was appraised based on factors such as existing systems for re-use, necessity of using packaging and the possibility of fulfilling the functional requirements in terms of containment, tidiness, health, hygiene and safety. Differences of the products and their production and distribution systems, were also taken into account. The setting of the targets is expected to support the innovation and increase the proportion of re-use and refill solutions. The use ofIn accordance with Article 4(2) of Directive 2008/98/EC, restriction shall not apply for single -use packaging for food and beverages filled and consumed within the premises in the HORECA sector should not be alloweddelivering a better overall environmental outcome justified by life cycle thinking, as well as a better overall economic and health impact.
2023/05/12
Committee: ENVI
Amendment 465 #

2022/0396(COD)

Proposal for a regulation
Recital 68
(68) To increase their effectiveness and ensure the equal treatment of economic operators, the re-use and refill targets should be placed on the economic operators. In cases of targets for beverages, they should be additionally placed also on the manufacturers, as these actors are able to control the packaging formats used for the products they offer and decide based on thorough consideration of logistics, environmental, technical, industrial and consumer criteria. The targets should be calculated as a percentage of sales in reusable packaging within a system for re- use or through refill or, in case of transport packaging, as a percentage of uses. The targets should be material neutral. A detailed assessment should be carried out to ensure that reuse targets can be implemented in a safe, economically viable and environmentally sustainable way that would bring tangible benefits compared to recyclable alternatives. In order to ensure uniform conditions for the implementation of targets for re-use and refill, the power to adopt an implementing act in accordance with Article 291 of the Treaty on the methodology for their calculation, should be delegated to the Commission.
2023/05/12
Committee: ENVI
Amendment 484 #

2022/0396(COD)

Proposal for a regulation
Recital 78
(78) In order to ensure uniform conditions for the implementation of the recourse to common technical specifications, the power to adopt implementing acts in accordance with Article 291 of the Treaty should be delegated to the Commission to lay down, amend or repeal common technical specifications for the requirements on sustainability, labelling and systems for re- use, and to adopt test, measurement or calculation methods. That should be limited to those cases where technical standardization is unable to provide a concrete response to the purposes of this Regulation.
2023/05/12
Committee: ENVI
Amendment 495 #

2022/0396(COD)

Proposal for a regulation
Recital 91
(91) To achieve an ambitious and sustained reduction in the overall packaging waste generation, targets should be laid down for the reduction of packaging waste per capita to be achieved by 2030. Meeting a target of 5 % reduction in 2030 compared to 2018 should entail an overall absolute reduction of approximately 19 % on average acmaterial (plastics, wood, ferrosus the Union in 2030 compared to the 2030 baseline. Member States should reduce packaging waste generation by 10 %, compared to 2018, by 2035; this is estimated to reduce packaging waste by 29 % compared to the 2030 baseline. In order to ensure that the reduction efforts continue beyond 2030, a reduction target of 10 % from 2018, which would mean a reduction of 29 % compared to baseline, should be set for 2035 and, for 2040, a reduction target of 15 % from 2018, which means a reduction of 37 % compared to baseline should be establishedmetals, aluminium, glass and paper and cardboard) per capita to be achieved by 2040.
2023/05/12
Committee: ENVI
Amendment 503 #

2022/0396(COD)

Proposal for a regulation
Recital 91 a (new)
(91a) Waste prevention through reduction at source by material should be a key guiding principle, as per the existing harmonised standard EN 13428:200030, whereby the substitution of one packaging material by another is not a basis for source reduction.
2023/05/12
Committee: ENVI
Amendment 516 #

2022/0396(COD)

Proposal for a regulation
Recital 98
(98) Regulation (EU) 2022/2065 of the European Parliament and of the Council66lays down rules on the traceability of traders, which more specifically contain obligations for providers of online platforms allowing consumers to conclude distance contracts with producers offering packaging to consumers located in the Union. In order to prevent free-riding from the extended producer responsibility obligations, it should be specified how such providers of online platforms should fulfil those obligations with regard to the registers of packaging producers established pursuant to this Regulation. In that context, providers of online platforms, falling within the scope of Section 4 of Chapter 3 of Regulation (EU) 2022/2065, allowing consumers to conclude distance contracts with producers should obtain from those producers information about their compliance with the extended producer responsibility rules set out in this Regulation. The rules on traceability of traders selling packaging online are subject to the enforcement rules set out in Regulation (EU) 2022/2065. As it can be difficult to supervise the concrete application of the obligations of the Regulation in the case of distance selling, particular attention should be paid to tools and control methods that ensure the proper implementation of the provisions. _________________ 66 Regulation (EU) 2022/2065 of the European Parliament and of the Council of 19 October 2022 on a Single Market For Digital Services and amending Directive 2000/31/EC (Digital Services Act) (OJ L 277, 27.10.2022, p. 1).
2023/05/12
Committee: ENVI
Amendment 529 #

2022/0396(COD)

Proposal for a regulation
Recital 103
(103) Deposit and return systems should be obligatory for single use plastic beverage bottles and metal beverage containers. Member States might also decide to include other packaging in these systems, in particular single use glass bottles, and should ensure that deposit and return systems for single-use packaging formats, in particular for single use glass beverage bottles, are equally available for reusable packaging, where technically and economically feasible. They should consider establishing deposit and return systems also for reusable packaging. In such situations, a Member State should be allowed, while observing the general rules laid down in the Treaty and complying with the provisions set out in this Regulation, adopt provisions which go beyond the minimum requirements set out in this Regulation.
2023/05/12
Committee: ENVI
Amendment 570 #

2022/0396(COD)

Proposal for a regulation
Recital 141 a (new)
(141a) For the sake of clarity for food business operators, the nomenclature codes referred to food categories mentioned in Article 26 and Article 44 are taken from the Combined Nomenclature as defined in Article 1(2) of Council Regulation (EEC) No 2658/871 and as set out in Annex I thereto, which are valid at the time of publication of this Regulation and mutatis mutandis as amended by subsequent legislation.
2023/05/12
Committee: ENVI
Amendment 583 #

2022/0396(COD)

Proposal for a regulation
Article 2 – paragraph 1
1. This Regulation applies to all packaging, with the exception of packaging approved for the transport of dangerous goods regardless of the material used, and to all packaging waste, whether such waste is used in or originates from industry, other manufacturing, retail or distribution, offices, services or households.
2023/05/12
Committee: ENVI
Amendment 588 #

2022/0396(COD)

Proposal for a regulation
Article 2 – paragraph 2
2. This Regulation applies without prejudice to Union regulatory requirements for packaging such as those regarding safety, quality, the protection of health and the hygiene of the packed products, or to transport requirements, as well as without prejudice to the provisions of the Directive 2008/98/EC as regards the management of hazardous waste and as regards the requirements provided for in paragraph 2 of Article 4 of Directive 2008/98/EC.
2023/05/12
Committee: ENVI
Amendment 604 #

2022/0396(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 1 – point f
(f) permeable tea or coffee bagsingle- serve units necessary to contain a tea or coffee product and intended to be used and disposed of together with the product;
2023/05/12
Committee: ENVI
Amendment 616 #

2022/0396(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 1 – point g
(g) coffee or tea systemprotective beverage single-serve unit necessary to contain a coffee or tea product and intended to be used and disposed of together with the product;
2023/05/12
Committee: ENVI
Amendment 634 #
2023/05/12
Committee: ENVI
Amendment 642 #

2022/0396(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 19
(19) ‘composite packaging’ means a unit of packaging made of two or more different materials, excluding materials used for labels, closures and sealing, which cannot be separated manually and therefore form a single integraloatings, linings, paints, inks, adhesives, closures and sealing which are considered as part of the weight of the main packaging material, which cannot be separated manually and therefore form a single integral unit, unless a given material constitutes an insignificant part of the packaging unit and in no case more than 15% of the total mass of the packaging unit;
2023/05/12
Committee: ENVI
Amendment 695 #

2022/0396(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 32
(32) ‘recycled at scale’ means collected, sorted and recycled through installed state-of-the-art infrastructure and processes, covering at least 75 % of the Union populationthe existence of a clear pathway, including the development of sufficient capacity for the collected packaging waste to be directed towards defined and recognised waste streams through established industrial processes for reprocessing, including packaging waste exported from the Union that meets the requirements of Article 47(5);
2023/05/12
Committee: ENVI
Amendment 702 #

2022/0396(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 32 a (new)
(32a) 'high quality recycling’ means any recovery operation, as defined in Article 3, point (17), of Directive 2008/98/EC, that ensures that the distinct quality of the collected and sorted waste is preserved or recovered during that recovery operation, so that the resulting recycled materials are of sufficient quality to substitute primary raw materials with minimal loss of quantity, quality or function;
2023/05/12
Committee: ENVI
Amendment 716 #

2022/0396(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 34
(34) ‘integrated component’ means a packaging component that may be distinct from the main body of the packaging unit, and may be of a different material, but is integral to the packaging unit and its functioning and does not need to be separated from the main packaging unit in order to consume the product and is typically discarded at the same time as the packaging unit, although not necessarily in the same disposal route;is recommended to be disposed together with the main body of the packaging.
2023/05/12
Committee: ENVI
Amendment 723 #

2022/0396(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 35
(35) ‘separate component’ means a packaging component that is distinct from the main body of the packaging unit, which may be of a different material, that needs to becan be manually disassembled completely and permanently from the main packaging unit in order to access the product, and that is typically discarded prior to anbody of the packaging by the end consumer, and that is recommended to be disposed separately from the main body of the packaging unit;
2023/05/12
Committee: ENVI
Amendment 733 #

2022/0396(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 38
(38) ‘secondary raw materials’ means materials that have been obtained through recycling processes and can substitute primary raw materials;deleted
2023/05/12
Committee: ENVI
Amendment 741 #

2022/0396(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 39 a (new)
(39a) “recycled content in plastic packaging” is the amount of material contained in the packaging obtained from any recycling process of pre-consumer and post-consumer waste, whether to be recycled mechanically, physically or chemically.
2023/05/12
Committee: ENVI
Amendment 746 #

2022/0396(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 39 b (new)
(39b) 'pre-consumer plastic waste' means plastic waste that is generated from production and converting of plastic material.
2023/05/12
Committee: ENVI
Amendment 783 #

2022/0396(COD)

Proposal for a regulation
Article 3 – paragraph 2
The definitions of ‘substance of concern’ and ‘data carrier’ laid down in Article [2 points (28) and (30)] of Regulation [Ecodesign for sustainable products] shall apply;
2023/05/12
Committee: ENVI
Amendment 799 #

2022/0396(COD)

Proposal for a regulation
Article 4 – paragraph 5
5. In addition to the labelling requirements laid down in Article 11, Member States may provide for further labelling requirements, for the purpose of identifying the extended producer responsibility scheme or a deposit and return system other than those referred to in Article 44(1).deleted
2023/05/12
Committee: ENVI
Amendment 812 #

2022/0396(COD)

Proposal for a regulation
Article 4 – paragraph 6 a (new)
6a. Any additional Member State information and labelling requirements that go beyond the requirements of this Regulation shall not be considered as mandatory but used on a voluntary basis.
2023/05/12
Committee: ENVI
Amendment 816 #

2022/0396(COD)

Proposal for a regulation
Article 5 – paragraph 1
1. Packaging shall be so manufactured that the presence and concentration of substances of concernthat meet the criteria in Article 57 and identified in accordance with Article 59(1) in a concentration above 0,1 % weight by weight (w/w) as laid down the Regulation (EC) No 1907/2006, as constituents of the packaging material or of any of the packaging components is minimised, including with regard to their presence in emissions and any outcomes of waste management, such as secondary raw materials, ashes or other material for final disposal.
2023/05/12
Committee: ENVI
Amendment 821 #

2022/0396(COD)

Proposal for a regulation
Article 5 – paragraph 2
2. Without prejudice toOther than the substances criteria laid down in Article 5(1), shall be applied the restrictions on chemicals set out in Annex XVII of Regulation (EC) No 1907/2006 or, where applicable, to the restrictions and specific measures on food contact packaging in Regulation (EC) No 1935/2004, the sum of concentration levels of lead, cadmium, mercury and hexavalent chromium resulting from substances present in packaging or packaging components shall not exceed 100 mg/kg.
2023/05/12
Committee: ENVI
Amendment 843 #

2022/0396(COD)

Proposal for a regulation
Article 5 – paragraph 4
4. Recyclability requirements established in delegated acts adopted pursuant to Article 6(5)by CEN - European Committee for Standardization shall not restrict the presence of substances in packaging or packaging components for reasons relating primarily to chemical safety. They shall address, as appropriate, substances of concern that negatively affect the re-use and recycling of materials in the packaging in which they are present, and shall, as appropriate, identify the specific substances concerned and their associated criteria and limitations.
2023/05/12
Committee: ENVI
Amendment 875 #

2022/0396(COD)

Proposal for a regulation
Article 6 – paragraph 2 – subparagraph 1 – point a
(a) it is designed for recycling or, for compostable packaging, is compliant with point a), b) and c) of Annex III;
2023/05/12
Committee: ENVI
Amendment 894 #

2022/0396(COD)

Proposal for a regulation
Article 6 – paragraph 2 – subparagraph 1 – point d
(d) except for compostable plastics, it can be recycled so that the resulting secondary raw materials are of sufficient quality to substitute the primarya raw materials;
2023/05/12
Committee: ENVI
Amendment 910 #
2023/05/12
Committee: ENVI
Amendment 934 #

2022/0396(COD)

Proposal for a regulation
Article 6 – paragraph 3
3. Recyclable packaging shall, from 1 January 2030, comply with the design for recycling criteria as laid down in the delegated actsCEN standards, where applicable, adopted pursuant to paragraph 4 and, from 1 January 2035, also with the recyclability at scale requirements laid down in the delegated actCEN standards adopted pursuant to paragraph 6. Where such packaging complies with those delegated actstandards, it shall be considered to comply with paragraph 2, points (a) and (e).
2023/05/12
Committee: ENVI
Amendment 953 #

2022/0396(COD)

Proposal for a regulation
Article 6 – paragraph 4 – subparagraph 1
TWhitin 12 months from the adoption of the Regulation the Commission is empowered to adopt delegated acts, in close cooperation with stakeholders, in accordance with Article 58 to supplement this Regulation in order to establish design for recycling criteria and recycling performance grades based on the criteria and parameters listed in Table 2 of Annex II for packaging categories listed in Table 1 of that Annex, as well as rules concerning the modulation of financial contributions to be paid by producers to comply with their extended producer responsibility obligations set out in Article 40(1), based on the packaging recycling performance grade, and for plastic packaging, the percentage of recycled content. Design-for- recycling criteria shall consider state of the art collection, marketing and consumer acceptance criteria, sorting and recycling processes and shall cover all packaging components.
2023/05/12
Committee: ENVI
Amendment 974 #

2022/0396(COD)

Proposal for a regulation
Article 6 – paragraph 4 – subparagraph 2
The Commission is empowered to adopt delegated acts, in close cooperation with stakeholders, in accordance with Article 58 to amend Table 1 of Annex in order to adapt it to scientific and technical development in material and product design, collection, sorting and recycling infrastructure.
2023/05/12
Committee: ENVI
Amendment 1027 #

2022/0396(COD)

Proposal for a regulation
Article 6 – paragraph 7 – point b
(b) detailed design for recycling criteria including material specific requirements on the quality of recycling, where and when needed, for each packaging formaterial and category listed in Table 1 of Annex II;
2023/05/12
Committee: ENVI
Amendment 1052 #

2022/0396(COD)

Proposal for a regulation
Article 6 – paragraph 9 – subparagraph 2
Where use is made of this derogation, innovative packaging shall be accompanied by technical documentation, referred to in Annex VII, demonstrating its innovative nature and showing compliance with the definition in Article 3(347) of this Regulation.
2023/05/12
Committee: ENVI
Amendment 1057 #
2023/05/12
Committee: ENVI
Amendment 1062 #
2023/05/12
Committee: ENVI
Amendment 1065 #

2022/0396(COD)

Proposal for a regulation
Article 6 – paragraph 10 – point c
(c) contact sensitive plastic packaging of in vitro diagnostics medical devices covered by Regulation (EU) 2017/746.
2023/05/12
Committee: ENVI
Amendment 1074 #

2022/0396(COD)

Proposal for a regulation
Article 6 – paragraph 10 a (new)
10a. outer packaging as defined in Article 1, point (24), of Directive 2001/83/EC and in Article 4, point (26), of Regulation (EU) 2019/6, in cases where such packaging is necessary to comply with specific requirements to preserve the quality of the medicinal product. Should the adoption of the delegated acts referred to in paragraphs 4 and 6 of this Article be delayed, a presumption of compliance with the points a) and e) of paragraph 2 shall apply to all packaging placed on the Union market until such delegated acts are adopted.
2023/05/12
Committee: ENVI
Amendment 1112 #

2022/0396(COD)

Proposal for a regulation
Article 7 – paragraph 1 – introductory part
1. From 1 January 2030, the plastic part in packaging shall contain the following minimum percentage of recycled content recovered from pre-consumer or post- consumer plastic waste, per unit of packaging:
2023/05/12
Committee: ENVI
Amendment 1116 #

2022/0396(COD)

Proposal for a regulation
Article 7 – paragraph 1 – point a
(a) 30 % for contact sensitive plastic packaging made from polyethylene terephthalate (PET) as the major component;
2023/05/12
Committee: ENVI
Amendment 1146 #

2022/0396(COD)

Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 1 (new)
Targets per material shall be calculated as a percentage of the total number of units placed by a producer on the internal market.
2023/05/12
Committee: ENVI
Amendment 1175 #

2022/0396(COD)

Proposal for a regulation
Article 7 – paragraph 2 – introductory part
2. From 1 January 2040, the plastic part in packaging shall contain the following minimum percentage of recycled content recovered from pre-consumer or post- consumer plastic waste, per unit of packaging:
2023/05/12
Committee: ENVI
Amendment 1187 #

2022/0396(COD)

Proposal for a regulation
Article 7 – paragraph 2 – subparagraph 1 (new)
Targets per material shall be calculated as a percentage of the total number of units placed by a producer on the internal market.
2023/05/12
Committee: ENVI
Amendment 1196 #

2022/0396(COD)

Proposal for a regulation
Article 7 – paragraph 3 – point b
(b) contact sensitive plastic packaging of medical devices covered by Regulation (EU) 2017/745;
2023/05/12
Committee: ENVI
Amendment 1198 #

2022/0396(COD)

Proposal for a regulation
Article 7 – paragraph 3 – point c
(c) contact sensitive plastic packaging of in vitro diagnostics medical devices covered by Regulation (EU) 2017/746;
2023/05/12
Committee: ENVI
Amendment 1213 #

2022/0396(COD)

Proposal for a regulation
Article 7 – paragraph 4
4. Paragraphs 1 and 2 shall not apply to compostable plastic packaging. as well as to inks, adhesives, varnishes and coatings used on packaging. Compostable packaging can be placed on the market providing the presence of a minimum content of renewable raw material determined as percentage of carbon of biological origin present in packaging compared to the total carbon present therein and using for this purpose the current European standard on the subject based on radiocarbon methods EN 16640. Agricultural biomass used for the manufacture of compostable packaging complies with the criteria laid down in Article 29, paragraphs 2 to 5, of Directive (EU) 2018/2001. Forest biomass used for the manufacture compostable packaging complies with the criteria laid down in Article 29, paragraphs 6 and 7 of that Directive.
2023/05/12
Committee: ENVI
Amendment 1230 #

2022/0396(COD)

Proposal for a regulation
Article 7 – paragraph 4 a (new)
4a. By 12 months from the entry into force of this Regulation, compostable packaging shall contain a minimum content of renewable raw material of at least 60%.
2023/05/12
Committee: ENVI
Amendment 1232 #
2023/05/12
Committee: ENVI
Amendment 1240 #

2022/0396(COD)

6. By 1 January 2030, the financial contributions paid by producers to comply with their extended producer responsibility obligations as laid down in Article 40 shall be modulated based on the percentage of recycled content used in the packagingtaking into account the cost of packaging waste management and the revenues from sales of secondary materials.
2023/05/12
Committee: ENVI
Amendment 1246 #

2022/0396(COD)

Proposal for a regulation
Article 7 – paragraph 7
7. By 31 December 2026, the Commission is empowered to adopt implementing acts establishing the methodology for the calculation and verification of the percentage of recycled content recovered from post-consumer plastic waste, per unit of plastic packaging, and the format for the technical documentation referred to in Annex VII. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 59(3). The implementing acts can specify that calculation of recycled content from packaging covered by Regulation No 1935/2004 on materials and articles intended to come into contact with food is only included in the calculation of recycled content if the packaging application is also covered by Regulation No 1935/2004 on materials and articles intended to come into contact with food.
2023/05/12
Committee: ENVI
Amendment 1287 #

2022/0396(COD)

Proposal for a regulation
Article 7 – paragraph 9 – subparagraph 1
By 1 January 2028, the Commission shall assess the need for derogations from the minimum percentage laid down in paragraph 1, points b and d, for specific plastic packaging, or for the revision of the derogation established under paragraph 3 for specific plastic packaging.
2023/05/12
Committee: ENVI
Amendment 1309 #

2022/0396(COD)

Proposal for a regulation
Article 7 – paragraph 9 – subparagraph 2 – point a
(a) provide for derogations from the scope, timing or level of minimum percentage laid down in paragraph 1, points b and d, for specific plastic packaging, and, as appropriate,
2023/05/12
Committee: ENVI
Amendment 1312 #
2023/05/12
Committee: ENVI
Amendment 1347 #

2022/0396(COD)

Proposal for a regulation
Article 8 – paragraph 1
1. By 2030 [OP: please insert the date = 24 months from the entry into force of this Regulation], packaging referred to in Article 3(1), points (f) and (g), sticky labels attached to fruit and vegetables and very lightweight plastic carrier bags shall be compostable in industrially controlled conditions in bio-waste treatment facilities and therefore allowed to be collected in bio-waste receptacles.
2023/05/12
Committee: ENVI
Amendment 1362 #

2022/0396(COD)

Proposal for a regulation
Article 8 – paragraph 1 a (new)
1a. Compostable packaging can be placed on the market providing the presence of a minimum content of renewable raw material determined as percentage of carbon of biological origin present in packaging compared to the total carbon present therein and using for this purpose the current European standard on the subject based on radiocarbon methods EN 16640. Agricultural biomass used for the manufacture of compostable packaging complies with the criteria laid down in Article 29, paragraphs 2 to 5, of Directive (EU) 2018/2001. Forest biomass used for the manufacture compostable packaging complies with the criteria laid down in Article 29, paragraphs 6 and 7 of that Directive.
2023/05/12
Committee: ENVI
Amendment 1363 #

2022/0396(COD)

Proposal for a regulation
Article 8 – paragraph 2
2. Where appropriate waste collection schemes and waste treatment infrastructure are available to ensure that packaging referred to in paragraph 1 enters the organic waste management stream, Member States are empowered to require that lightweight plastic carrier bags shall be made available on their market for the first time only if it can be demonstrated that those lightweight plastic carrier bags have been entirely manufactured from biodegradable plastic polymers, which are compostable in industrially controlled conditions.deleted
2023/05/12
Committee: ENVI
Amendment 1372 #

2022/0396(COD)

Proposal for a regulation
Article 8 – paragraph 2 a (new)
2a. Member States which have transposed Article 22 of Directive 2008/98 and have appropriate waste collection schemes and waste treatment infrastructure are empowered to require that lightweight plastic carrier bags shall be compostable in industrially controlled conditions. The same provision shall apply to compostable packaging formats.
2023/05/12
Committee: ENVI
Amendment 1378 #

2022/0396(COD)

Proposal for a regulation
Article 8 – paragraph 3
3. By [OP: Please insert the date = 24 months from the date of entry into force of this Regulation], packaging, labeled as compostable, other than that referred to in paragraphs 1 and 2, including packaging made of biodegradshall comply with the criteria listed in Annex III. Packaging made with compostable material that is not labele plastic polymers,d as compostable shall allow material recycling without affecting the recyclability of other waste streams.
2023/05/12
Committee: ENVI
Amendment 1381 #

2022/0396(COD)

Proposal for a regulation
Article 8 – paragraph 4 a (new)
4a. By [OP: please insert the date = 12 months from the entry into force of this Regulation] compostable packaging shall contain a minimum content of renewable raw material of at least 60%.
2023/05/12
Committee: ENVI
Amendment 1383 #

2022/0396(COD)

Proposal for a regulation
Article 8 – paragraph 5
5. TAfter an assessment of the Expert Group, the Commission shall be empowered to adopt delegated acts in accordance with Article 58 to amend paragraphs 1 and 2 of this Article by addingdd other types of packaging to the types of packaging covered by those paragraphs 1 and 2 of this Article when it is justified and appropriate due to technological and regulatory developments impacting the disposal of compostable packaging and under the conditions set out in Annex III. A public register containing the lists of such applications should be established and updated by the Commission.
2023/05/12
Committee: ENVI
Amendment 1390 #

2022/0396(COD)

Proposal for a regulation
Article 8 – paragraph 5 a (new)
5a. By 1 January 2030, the financial contributions paid by producers to comply with their extended producer responsibility obligations as laid down in Article 40 shall be collected and managed by a dedicated extended producer responsibility scheme.
2023/05/12
Committee: ENVI
Amendment 1402 #

2022/0396(COD)

Proposal for a regulation
Article 9 – paragraph 1
1. PBy 1 January 2030, packaging shall be designed so that its weight and volume is reduced to the minimum necessary for ensuring its functionalitys, as listed in the definition of packaging in Article 3(1), taking account of the material that the packaging is made of and its design, for a given material and a given shape.
2023/05/12
Committee: ENVI
Amendment 1422 #

2022/0396(COD)

Proposal for a regulation
Article 9 – paragraph 2
2. PBy 1 January 2030, packaging not necessary to comply with any of the performance criteria set out in Annex IV and packaging with characteristics that are only aimed to increase the perceived volume of the product, including double walls, false bottoms, and unnecessary layers, shall not be placed on the market, unless the packaging design is subject to geographical indications of origin, shall not be placed on the market, unless the product or packaging design is subject to intellectual property protection or benefits from the Union's geographical indications of origin protection or have been given distinctive product recognition by the Union, in each case protected under Union legislation.
2023/05/12
Committee: ENVI
Amendment 1432 #

2022/0396(COD)

Proposal for a regulation
Article 9 – paragraph 3 – subparagraph 1 – introductory part
EBy 1 Januart 2030, empty space shall be reduced to the minimum necessary for ensuring the packaging functionality as follows:
2023/05/12
Committee: ENVI
Amendment 1437 #

2022/0396(COD)

Proposal for a regulation
Article 9 – paragraph 3 – subparagraph 2
For the purpose of assessing the compliance with this paragraph, space filled by paper cuttings, air cushions, bubble wraps, sponge fillers, foam fillers, wood wool, polystyrene, styrofoam chips or other filling materials shall be considered as empty space, unless required to protect and to transport the goods.
2023/05/12
Committee: ENVI
Amendment 1445 #

2022/0396(COD)

Proposal for a regulation
Article 9 – paragraph 4 – subparagraph 1 – point b
(b) the identification of the design requirements, including those related to intellectual property rights , which prevent further reduction of the packaging weight or volume, for each of these performance criteria;
2023/05/12
Committee: ENVI
Amendment 1465 #

2022/0396(COD)

Proposal for a regulation
Article 10 – paragraph 1 – point b
(b) it has been conceived and designed to accomplish as many trips or rotations as possible in normally predictable conditions of use;deleted
2023/05/12
Committee: ENVI
Amendment 1498 #

2022/0396(COD)

Proposal for a regulation
Article 11 – paragraph 1 – subparagraph 1
From [OP: Please ins36 months aftert the date = 42 months after the entry into forceadoption of the implementing acts referred to in paragraph 5 and 6, information ofn this Regulae material composition], of packaging shall be marked with a label containing information on its material composition. This obligation does not apply to transport packagingon the packaging or shall be available through digital means according to art 11(4), to facilitate sorting by citizens. This obligation does not apply to transport packaging, to packaging mentioned in Article 7, paragraph 3 and to reusable gas receptacles. However, it applies to e-commerce packaging.
2023/05/12
Committee: ENVI
Amendment 1530 #

2022/0396(COD)

Proposal for a regulation
Article 11 – paragraph 2
2. From [OP: Please insert the date = 48 months after the date of entry into force of this Regul36 months after the adoption of the implementing act referred to in paragraph 5, information], on packaging shall bear a label on packaging reusability andreusability shall be marked on a label on packaging or shall be available through a QR code or other type of digital data carrier that provides further information on packaging reusability including the availability of a system for re-use and of collection points, and that facilitates the tracking of the packaging and the calculation of trips and rotations. In addition, reusable sales packaging shall be clearly identified and distinguished from single use packaging at the point of sale.
2023/05/12
Committee: ENVI
Amendment 1541 #

2022/0396(COD)

Proposal for a regulation
Article 11 – paragraph 4 – subparagraph 1
Labels referred to in paragraphs 1 to 3 and the QR code or other type of digital data carrier referred to in paragraph 2 shall be placed, printed or engraved visibly, clearly legibly and indelibly on the packaging. Where this is not possible or not warranted on account of the nature and size of the packaging, information should be conveyed to consumers via digital means of communication (e.g., website, QR code) or they shall be affixed to the grouped packaging.
2023/05/12
Committee: ENVI
Amendment 1547 #

2022/0396(COD)

Proposal for a regulation
Article 11 – paragraph 4 – subparagraph 1 a (new)
By way of derogation from paragraph 4, the information referred to in paragraph 1 to 3 may be provided by electronic means identified on the package or on a label attached thereto.In such cases, the following requirements apply: (a) no user data shall be collected or tracked; (b) the information shall not be displayed with other information intended for sales or marketing purposes.
2023/05/12
Committee: ENVI
Amendment 1550 #

2022/0396(COD)

Proposal for a regulation
Article 11 – paragraph 4 – subparagraph 2
Where Union legislation requires information on the packaged product to be provided via a data carrier, a single data carrier shall be used for providing the information required for both the packaged product and the packaging. From [Please insert the date = 24 months after the entry into force of this Regulation] the Commission shall adopt guidance regarding provision of information by digital means.
2023/05/12
Committee: ENVI
Amendment 1557 #

2022/0396(COD)

Proposal for a regulation
Article 11 – paragraph 5
5. By [OP: Please insert the date = 18 2 months after the date of entry into force of this Regulation], the Commission shall adopt implementing acts to establish a harmonised label and specifications for the labelling requirements and formats for the labelling of or the digital provision of information related to packaging referred to in paragraphs 1 to 3 and the labelling of waste receptacles referred to in Article 12. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 59(3).
2023/05/12
Committee: ENVI
Amendment 1562 #

2022/0396(COD)

Proposal for a regulation
Article 11 – paragraph 6
6. By [OP: Please insert the date = 124 months after the date of entry into force of this Regulation], the Commission shall adopt implementing acts to establish the methodology for identifying the material composition of packaging referred to in paragraph 1 by means of digital marking technologies. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 59(3).
2023/05/12
Committee: ENVI
Amendment 1574 #

2022/0396(COD)

Proposal for a regulation
Article 11 – paragraph 8
8. Packaging included in an extended producer responsibility scheme or covered by a deposit and return system other than that referred to in Article 44(1) mayshall be identified by means of a corresponding symbol throughout the territory in which that scheme or system applies. That symbol shall be clear and unambiguous and shall not mislead consumers or users as to the recyclability or reusability of the packagingharmonised symbol to be established via an implementing act by the Commission in accordance with the examination procedure referred to in Article 59 (3).
2023/05/12
Committee: ENVI
Amendment 1580 #

2022/0396(COD)

Proposal for a regulation
Article 11 – paragraph 8 a (new)
8a. Packaging referred to in paragraphs 1, 2 and 3, manufactured or imported before these deadlines, may be marketed until the stocks of the products are exhausted.
2023/05/12
Committee: ENVI
Amendment 1607 #

2022/0396(COD)

Proposal for a regulation
Article 13 – paragraph 6
6. Manufacturers shall indicate on the packaging or on a QR code or another data carrier their name, registered trade name or registered trade mark as well as the postal address, and where available, the electronic means of communication, where they can be contacted. Where that is not possible, the required information shall be provided as part of the information through the QR code referred to in Article 11(2) or the data carrier referred to in Article 11(4) or in a document accompanying the packaged product. The postal address shall indicate a single point at which the manufacturer can be contacted. Such information shall be clear, understandable and legible.deleted
2023/05/12
Committee: ENVI
Amendment 1619 #

2022/0396(COD)

Proposal for a regulation
Article 13 – paragraph 9 a (new)
9a. Paragraphs 1 to 6 do not apply to custom made transport packaging for configurable devices and systems designed to be used in industrial and healthcare settings.
2023/05/12
Committee: ENVI
Amendment 1630 #

2022/0396(COD)

Proposal for a regulation
Article 16 – paragraph 3
3. Importers shall indicate on the packaging their name and their registered trade name or registered trade mark as well as the postal address, and, where available, the electronic means of communication, where they can be contacted. Where that is not possible, the required information shall be provided via the data carrier or in a document accompanying the packaged product. The contact details shall be clear, understandable and legible.deleted
2023/05/12
Committee: ENVI
Amendment 1643 #

2022/0396(COD)

Proposal for a regulation
Article 17 – paragraph 2 – point c
(c) the manufacturer and the importer have complied with the requirements set out in Article 13(5) and (6) and Article 16(3) respectively.
2023/05/12
Committee: ENVI
Amendment 1666 #

2022/0396(COD)

Proposal for a regulation
Article 21 – paragraph 1
1. Economic operators who supply products to a final distributor or an end user in grouped packaging, transport packaging or e-commerce packaging, shall ensure that the empty space ratio is maximum 40 %inimised subject to the provisions within Part 1 and Part 2 of Annex IV.
2023/05/12
Committee: ENVI
Amendment 1684 #

2022/0396(COD)

Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 2
Space filled by filling materials such as paper cuttings, air cushions, bubble wraps, sponge fillers, foam fillers, wood wool, polystyrene or Styrofoam chips, shall be considered as empty space, unless required to protect and to transport the goods.
2023/05/12
Committee: ENVI
Amendment 1697 #

2022/0396(COD)

Proposal for a regulation
Article 22
Restrictions on use of certain packaging 1. Economic operators shall not place on the market packaging in the formats and for the purposes listed in Annex V. 2. By way of derogation from paragraph 1, economic operators shall not place on the market packaging in the formats and for the purposes listed in point 3 of Annex V as of 1 January 2030. 3. Member States may exempt economic operators from point 3 of Annex V if they comply with the definition of micro- company in accordance with rules set out in the Commission Recommendation 2003/361, as applicable on [OP: Please insert the date = the date of entry into force of this Regulation], and where it is not technically feasible not to use packaging or to obtain access to infrastructure that is necessary for the functioning of a reuse system. 4. The Commission shall be empowered to adopt delegated acts in accordance with Article 58 to amend Annex V in order to adapt it to technical and scientific progress with the objective to reducing packaging waste. When adopting those delegated acts, the Commission shall consider the potential of the restrictions on the use of specific packaging formats to reduce the packaging waste generated while ensuring an overall positive environmental impact, and shall take into account the availability of alternative packaging solutions that meet requirements set out in legislation applicable to contact sensitive packaging, as well as their capability to prevent microbiological contamination of the packaged product.Article 22 deleted formats
2023/05/12
Committee: ENVI
Amendment 2217 #

2022/0396(COD)

Proposal for a regulation
Article 38 – paragraph 1 – introductory part
1. Each Member State shall reduce the packaging waste generated per capita, as compared to the packaging waste generated per capita in 2018the year of entry into force of this Regulation as reported to the Commission in accordance with Decision 2005/270/EC, for each of the specific materials contained in packaging waste listed in article 46, by
2023/05/26
Committee: ENVI
Amendment 2253 #

2022/0396(COD)

Proposal for a regulation
Article 38 – paragraph 3
3. For the purpose of paragraph 2, Member States may use economic instruments and other measures to provide incentives for the application of the waste hierarchy, such as measures referred to in Annexes IV and IVa to Directive 2008/98/EC, or other appropriate instruments and measures, including incentives through extended producer responsibility schemes and requirements on producers or producer responsibility organisations to adopt waste prevention plans. Such measures shall be proportionate and non-discriminatory and be designed so as to avoid barriers to trade or distortions of competition in conformity with the Treaty and with Article 4 of this Regulation.
2023/05/26
Committee: ENVI
Amendment 2271 #

2022/0396(COD)

Proposal for a regulation
Article 39 – paragraph 2
2. Producers shall be obliged to register in the register referred to in paragraph 1. They shall, to that end, submit an application for registration in each Member State where they make packaging available on the market for the first timethe home country. Where a producer has appointed a producer responsibility organisation as referred to in Article 41(1), the obligations set out in this Article shall be met by that organisation, unless otherwise specified by the Member State in which the register is established.
2023/05/26
Committee: ENVI
Amendment 2305 #

2022/0396(COD)

Proposal for a regulation
Article 43 – paragraph 1
1. By 1 January 2030, Member States shall ensure that systems are set up to provide for the return and the separate collection of 90% of all packaging waste from the end users of each packaging format listed in Table 1 Annex II, in a given year, in order to ensure that it is treated in accordance with Articles 4 and 13 of Directive 2008/98/EC, and to facilitate its preparation for re-use and high quality recycling.
2023/05/26
Committee: ENVI
Amendment 2352 #

2022/0396(COD)

Proposal for a regulation
Article 43 – paragraph 1
1. By 1 January 2030, Member States shall ensure that systems are set up to provide for the return and the separate collection of 90% of all packaging waste from the end users of each packaging format listed in Table 1 Annex II, in a given year, in order to ensure that it is treated in accordance with Articles 4 and 13 of Directive 2008/98/EC, and to facilitate its preparation for re-use and high quality recycling.
2023/05/12
Committee: ENVI
Amendment 2353 #

2022/0396(COD)

Proposal for a regulation
Article 43 – paragraph 1
1. By 1 January 2030, Member States shall ensure that systems are set up to provide for the return and the separate collection of 90% of all packaging waste from the end users of each packaging format listed in Table 1 Annex II, in a given year, in order to ensure that it is treated in accordance with Articles 4 and 13 of Directive 2008/98/EC, and to facilitate its preparation for re-use and high quality recycling.
2023/05/12
Committee: ENVI
Amendment 2711 #

2022/0396(COD)

Proposal for a regulation
Annex II – Table 2 a (new)
Indicative parameters that may be considered when developing design criteria for recycling under Article 6: 1. Additives 2. Labels 3. Closure systems and small parts 4. Adhesives 5. Printing inks 6. Colours 7. Material composition 8. Barriers / coatings 9. Ease of dismantling
2023/05/15
Committee: ENVI
Amendment 22 #

2022/0341(COD)

Proposal for a regulation
Recital 6
(6) Ensuring that all PSUs in the Union are able to place payment orders for and receive instant credit transfers in euro is a precondition for an increased uptake of such transactions. Currently, at least one third of PSPs in the Union do not offer instant credit transfers in euro. Moreover, the rate at whichPutting in place the instant payment service would open up a further payment channel for PSPs to offer their PSUs, but the uptake of such transactions should be left to the free competition market to balance service supply and demand in a balanced manner. Therefore, PSPs that offer their PSPUs have been adding instant credit transfers to their services has been, over the last few years, too slow, which hinders further integration of the Union’s internal payments market. Therefore, PSPs should be requireda payment service of sending and receiving credit transfers should also offer all their PSUs a payment service of receiving instant credit transfers. By contrast, these PSPs should be able to choose whether or not to offer thea service of sending and receiving instant credit transfers in euro.
2023/04/21
Committee: ECON
Amendment 27 #

2022/0341(COD)

Proposal for a regulation
Recital 8
(8) There is a variety of interfaces through which PSUs can place a payment order for a credit transfer in euro, including via online banking, a mobile application, an automated teller machine, in a branch, or by phone. To ensure that all PSUs have access to instant credit transfers in euro, there should be no difference in terms of theIn order to respect free market rules, the PSPs shall decide freely which PSU interfaces through which PSUs can placeo adapt for the placement of a payment orders for an instant and other types of credit transfer transactions. Moreover, where it is possible for a PSU to submit to a PSP payment orders for credit transfers packaged together, that same possibility should also be made freely available with respect to instant credit transfers in euro. PSPs should be able to offer all credit transfers in euro initiated by their PSUs as instant by default.
2023/04/21
Committee: ECON
Amendment 35 #

2022/0341(COD)

Proposal for a regulation
Recital 9
(9) It would not be proportionate to impose on payment institutions and electronic money institutions an obligation to offer the service of sending and receiving instant credit transfers in euro, because those institutions cannot be admitted as participants in a payment system designated in accordance with Directive 98/26/EC of the European Parliament and of the Council36. Those institutions may therefore experience difficulties in accessing the infrastructure necessary to execute instant credit transfers. It is therefore appropriate to exclude payment institutions and electronic money institutions from the obligation to offer the service of sending and receiving instant credit transfers in euroDirective 98/26/EC of the European Parliament and of the Council36 came into effect before the current payment landscape was established. Therefore, this directive needs to be revised as of now, before implementation gets under way. This would ensure greater uptake of instant credit transfers in euro, as it would allow PSPs such as payment institutions and electronic money institutions to be included from the outset within the scope of application of this regulation. __________________ 36 Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems (OJ L 166, 11.6.1998, p. 45).
2023/04/21
Committee: ECON
Amendment 37 #

2022/0341(COD)

Proposal for a regulation
Recital 10
(10) PSUs are very sensitive to the level of charges for substitutable payment methods. The level of charges can therefore steer them towards or away from a given payment method. In those national markets where higher transaction-level charges for instant credit transfers in euro compared to charges for other types of credit transfers in euro have been applied, the uptake of instant credit transfers is low. That would suggest that the price difference between charges has prevented the attainment of the critical mass of instant credit transfers in euro that is necessary to realise the full network effects for PSPs and PSUs alike. All types of charges applied to payers and payees for the execution of instant credit transfers in euro, including pHowever, this definitely does not mean that the difference in charges applied is inversely proportional to the uptake of instant credit transfers. Besides, capping charges could push up, rather trhansaction bring down, charges for lump sum charges, should therefore not exceed such charges applied to the same PSU for corresponding types of other credit transfers in euro. When identifying corresponding types of credit transferinstant credit transfers. Any charges applied by a PSP to payers and payees for the sending and receiving of instant credit transfer transactions in euro are freely negotiated by the contracting parties, wit should be possible to use criteria including the PSU interface or the payment instrument used to initiate the payment, customer status and, where relevant, whether the payment is national or cross-bordert prejudice to consumer protection, in order to strike the right balance between supply and demand in a competitive market.
2023/04/21
Committee: ECON
Amendment 38 #

2022/0341(COD)

Proposal for a regulation
Recital 10 a (new)
(10a) In order to prevent fraud and other illegal activities, be this of a coercive nature or otherwise, committed through the misuse of instant credit transfers, which cannot be recalled owing to the instantaneous nature of the transaction, PSPs need to allow PSUs the possibility of setting a maximum amount that can be transferred by instant credit transfer. If the instant payment amount were to be equal to or greater than this maximum amount, the transfer would not occur and the PSPs would be obliged to notify the PSU of the attempted instant credit transfer.
2023/04/21
Committee: ECON
Amendment 46 #

2022/0341(COD)

Proposal for a regulation
Recital 11
(11) Security of instant credit transfers in euro is fundamental for increasing PSUs’ confidence in such services and ensuring their use. Payers intending to send a credit transfer to a given payee may, as a result of fraud or error, provide a payment account identifier which does not correspond to an account held by that payee. Under Directive (EU) 2015/2366 of the European Parliament and of the Council37, the only determinant of the correct execution of the transaction with respect to the payee is the unique identifier, and PSPs are not required to verify the name of the payee. In the case of instant credit transfers, there is not enough time for the payer to realise the occurrence of a fraud or error and to try to recover the funds before they are credited to the payee’s account. PSPs should therefore verify whether there is any discrepancy between the unique identifier of the payee and the name of the payee provided by the payer, and notify the payer placing a payment order for an instant credit transfer in euro about any such discrepancies detected. To avoid undue frictions or delays in the processing of the transaction instantly, the payer’s PSP should provide such notification within no more than a few seconds from the moment the payer provided the payee information. To allow the payer to decide whether to proceed with the intended transaction, the payer’s PSP should provide such notification before the payer authorises the transaction. In any event, PSPs should not charge PSUs any additional amount for the payment account identification service and should ensure that PSUs can choose whether or not to use that service at the time of each payment order. __________________ 37 Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (OJ L 337, 23.12.2015, p. 35).
2023/04/21
Committee: ECON
Amendment 64 #

2022/0341(COD)

Proposal for a regulation
Recital 13 a (new)
(13a) In some cases, the payment account identifier (the international bank account number or ‘IBAN’) is filled out by payment initiation service providers (PISPs) who have a contractual relationship with the beneficiary merchant and have performed the due diligence in accordance with Directive (EU) 2016/849. Since the payer is not able to amend the account identifier, the risk of fraud or error is significantly reduced, since in practice the PISP does the equivalent of checking the bank account number. Demanding that a service certify that the payment account number (IBAN) and the name of the beneficiary match would be redundant and unnecessary in these circumstances, and it would hence seem appropriate, in this case, to provide for an exemption from the payment account identification service.
2023/04/21
Committee: ECON
Amendment 85 #

2022/0341(COD)

Proposal for a regulation
Recital 21
(21) Any processing of personal data in the context of providing instant credit transfers, or the service detecting and notifying discrepancies between the name and payment account identifier of a payee, as well as verifying whether PSUs are listed persons or entities should be in line with the Regulation (EU) 2016/679 of the European Parliament and of the Council39. Processing of the names and the payment account identifiers of natural persons is proportionate and necessary to prevent fraudulent transactions, detect errors and ensure the compliance with restrictive measures adopted in accordance with Article 215 TFEU providing for asset freeze or prohibition of making funds or economic resources available. Express reference should also be made to the competency of the respective national authorities for the protection of personal data with regard to possible infringements of the relevant legislation as well as with regard to the rights of data subjects in accordance with Articles 15 to 22 of Regulation (EU) 2016/679 of the European Parliament and of the Council40. __________________ 39 Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data.
2023/04/21
Committee: ECON
Amendment 99 #

2022/0341(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5a – paragraph 1 – subparagraph 1
PSPs that offer to their PSUs a payment service of sending and receiving credit transfers shall also offer to all their PSUs a payment service of sending and receivreceiving instant credit transfers. These PSPs shall be able to choose whether or not to offer a service of sending instant credit transfers.
2023/04/21
Committee: ECON
Amendment 117 #

2022/0341(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5a – paragraph 2 – point (a)
(a) theyPSPs shall ensure that payers are able to place a payment order for an instant credit transfer through the same PSU interfaces as the ones through whichdecide freely which PSU interface to adapt for those payers can placelacement of a payment order for otheran instant credit transfers;
2023/04/21
Committee: ECON
Amendment 127 #

2022/0341(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5a – paragraph 2 – point (b)
(b) after receiving a payment order for an instant credit transfer, they shall immediately verifyverify, without undue delay, whether all the necessary conditions for processing the payment are met and whether the necessary funds are available, reserve the amount on the account of the payer and instantly send the payment transaction to the payee’s PSP without undue delay;
2023/04/21
Committee: ECON
Amendment 131 #

2022/0341(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2
(d) after having received an instant credit transfer, they shall immediately, without undue delay and provided the amount does not exceed the maximum transfer amount referred to in paragraph 2a, make the amount of that transaction available on the payee’s payment account.
2023/04/21
Committee: ECON
Amendment 135 #

2022/0341(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5a – paragraph 2a (new)
(2a) PSPs shall enable PSUs to set a maximum amount that can be transferred by instant credit transfer. If the instant payment amount is equal to or greater than this maximum amount, the transfer shall not take place and the PSPs shall notify the PSU of the attempted instant credit transfer.
2023/04/21
Committee: ECON
Amendment 140 #

2022/0341(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5 a – paragraph 3
3. When providing instant credit transfers in euro, PSPs shallmay also offer to their PSUs the possibility to submit multiple payment orders as a package if they offer that possibility to their PSUs for other types of credit transfers.
2023/04/21
Committee: ECON
Amendment 154 #

2022/0341(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5 a – paragraph 4 – subparagraph 1
PSPs as referred to in paragraph 1 that are located in a Member State whose currency is the euro shall offer PSUs the service of receiving instant credit transfers in euro by … [PO please insert the date = 612 months after the date of entry into force of this Regulation], and the service of sending instant credit transfers in euro by … [PO please insert the date = 128 months after the date of entry into force of this Regulation].
2023/04/21
Committee: ECON
Amendment 165 #

2022/0341(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5 b– paragraph 1
1. Any charges applied by a PSP on payers and payees in respect of sending and receiving instant credit transfer transactions in euro shall not be higher than the charges applied by that PSPbe at the discretion of the parties involved, just as in respect of sending and receiving other, corresponding, credit transfer transactions in euro.
2023/04/21
Committee: ECON
Amendment 173 #

2022/0341(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5 b – paragraph 2
PSPs located in a Member State whose currency is the euro shall comply with this Article by …[ PO please insert the date = 612 months after the date of entry into force of this Regulation].
2023/04/21
Committee: ECON
Amendment 213 #

2022/0341(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5 c – paragraph 3 – subparagraph 2 a (new)
PSPs shall not charge PSUs any additional cost for the payment account identification service referred to in paragraph 1, and shall ensure that PSUs can choose whether or not to use that service at the time of each payment order.
2023/04/21
Committee: ECON
Amendment 228 #

2022/0341(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5 c – paragraph 5 a (new)
5a. The Commission shall, after consulting the ERPB, develop draft regulatory technical standards to specify the technical standards that PSPs use for the payment account identifier verification service and the name of the payee, as referred to in paragraph 1. When developing the draft regulatory technical standards referred to in the first subparagraph, the Commission shall, after consulting the European Data Protection Supervisor, also take into account the need to introduce appropriate security measures to protect the personal data of payers and payees involved in instant payments, as well as compliance with the principles of privacy by design and privacy by default. The Commission shall also, after further consulting the European Data Protection Supervisor, identify the specific competence of the national authorities for the protection of personal data of the Member States with regard to possible infringements of the relevant legislation as well as with regard to the rights of data subjects in accordance with Articles 15 to 22 of Regulation (EU) 2016/679 of the European Parliament and of the Council40. The Commission shall update those regulatory technical standards in the light of regulatory and technological developments. The Commission shall submit the draft regulatory technical standards referred to in the first subparagraph to the Commission by … [6 months at the latest after the date of entry into force of this Regulation]. Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data.
2023/04/21
Committee: ECON
Amendment 231 #

2022/0341(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5 c – paragraph 5 b
5b. The service referred to in paragraph 1 shall not apply to payments initiated by a payment initiation service provider (PISP) as defined by Directive (EU) 2015/2366 in cases where the payment account identifier and the name of the payee are pre-filled by the PISP.
2023/04/21
Committee: ECON
Amendment 238 #

2022/0341(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5 c – paragraph 6 – subparagraph 1
PSPs located in a Member State whose currency is the euro shall comply with this Article by …[ PO please insert the date = 128 months after the date of entry into force of this Regulation].
2023/04/21
Committee: ECON
Amendment 264 #

2022/0341(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5 d– paragraph 4
4. PSPs shall comply with this Article by …[ PO please insert the date = 612 months after the date of entry into force of this Regulation].’
2023/04/21
Committee: ECON
Amendment 269 #

2022/0341(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 3
Regulation (EU) No 260/2012
Article 11 – paragraph 1 a – subparagraph 1
By way of derogation from paragraph 1, Member States shall by … [PO please insert the date = 48 months after the date of entry into force of this Regulation] lay down rules on the penalties applicable to infringements of Articles 5a to 5d and shall take all measures necessary to ensure that they are implemented. Such penalties shall be effective, proportionate and dissuasive.
2023/04/21
Committee: ECON
Amendment 282 #

2022/0341(COD)

Proposal for a regulation
Article 2 a (new)
Directive 98/26/EC
Article 2 – letter (b)
Article 2a Amendments to Directive 98/26/EC In Article (2)(b): In Directive 98/26/EC, the following Articles shall be inserted: – electronic money institutions as defined in Article 2(1) of Directive 2009/110/EC; – payment institutions as defined in Article 4(4) of Directive (EU) 2015/2366
2023/04/21
Committee: ECON
Amendment 31 #

2022/0212(BUD)

Motion for a resolution
Paragraph 3
3. RegretsTakes note of the Council’s position on the DB, which cuts EUR 1,64 billion in commitment appropriations and EUR 530 million in payment appropriations for the MFF headings compared to the Commission’s proposal; considers that the cuts proposed by the Council are not driven by an objective assessment of either implementation trends or absorption capacities and run counter to core shared policy priorities; considers that the Council should not target programmes that benefit from the adjustment provided for in Article 5 of the MFF regulation for “rebalancing and stabilisation”, since that would contradict the objective of that MFF provision, which was to strengthen specific political priorities; recalls in particular that Article 5 of the MFF regulation does not provide “top ups”, as suggested by the Council; concludes that the Council’s position is far from Parliament’s expectations; decides therefore, as a general rule, toregrets Parliament's lack of flexibility in relation to Council’s position having restored appropriations on lines cut by the Council to the level of the DB, for both operational and administrative expenditure, and to take the DB as the starting point for Parliament’s position;
2022/09/29
Committee: BUDG
Amendment 39 #

2022/0212(BUD)

Motion for a resolution
Paragraph 5 a (new)
5 a. Stresses that new policy priorities or tasks must be accompanied by an efficient use of resources; asks if policy priorities or tasks of decentralised agencies could not be better accomplished by existing Directorates-General of the Commission or by Member states in order to prevent duplication of roles and costs and also improving transparency;
2022/09/29
Committee: BUDG
Amendment 114 #

2022/0212(BUD)

Motion for a resolution
Paragraph 29
29. Stresses the need toRegrets the significantly increase to the budget of the European Environment Agency tofor provide sufficienting financial and staff resources to enable fullin order to implementation of the European Green Deal and its related policies, since such investments would likely be borne by SMEs and European citizens, who are already being faced with un unprecedented increase in energy prices and the consequences of the Russia’s war of aggression against Ukraine;
2022/09/29
Committee: BUDG
Amendment 128 #

2022/0212(BUD)

Motion for a resolution
Paragraph 37 a (new)
37 a. Underlines the failure of European policies on preventing migration flows and human trafficking; reiterates its concerns about the role played by instruments such as the Internal Security Fund and the Asylum, Migration and Integration Fund in the management of the effects of the migration and refugee crisis;
2022/09/29
Committee: BUDG
Amendment 151 #

2022/0212(BUD)

Motion for a resolution
Paragraph 49 a (new)
49 a. Calls for an immediate stop to the Union's accession negotiations with Turkey and the prompt suspension of all funds provided to this country under the Instrument for Pre-Accession Assistance (IPA) and the EIB financing, since Turkey does not respect several of the basic principles of freedom and democracy and it has increased its aggressive behaviour, not only in the Mediterranean area, becoming a real threat for many Member States;
2022/09/29
Committee: BUDG
Amendment 155 #

2022/0212(BUD)

Motion for a resolution
Paragraph 51
51. Considers thatWelcomes the Council’s cuts in this heading - which are designed to obviate recourse to the Flexibility Instrument, as proposed in the DB - are unjustified and would not allow the Commission to fulfil its tasks; restores therefgiven the many privileges and benefits that are already provided; regrets therefore the decision to restore the DB for the Commission administrative expenditure, including with respect to its Offices;
2022/09/29
Committee: BUDG
Amendment 172 #

2022/0212(BUD)

Motion for a resolution
Paragraph 58 – introductory part
58. In line with its resolution of 7 April 2022 on its estimates of revenue and expenditure for the financial year 2023 and taking into account the answers provided by the Secretary-General on 20 July 2022: (a) Recalls the Parliament’s 2013 resolution which estimated the costs of the geographic dispersion to range from EUR 156 million to EUR 204 million per year; deplores the fact that over a single parliamentary term the costs generated by Parliament’s geographic dispersion can amount to as much as EUR 1 billion and calls, therefore, for pratical step to be taken quickly to establish a single seat for Parliament, in order to prevent any further waste of public money.
2022/09/29
Committee: BUDG
Amendment 175 #

2022/0212(BUD)

Motion for a resolution
Paragraph 58 – point d
(d) underlines the need forStresses that Parliament’s Committee on Budgets have to receive all relevant information relating to Parliament’s budget in a timely and intelligible manner to be able to take informed decisions; while recognisinghowever regrets the aimportance of the of establishment ofing Europa Experiences centres in all Member States as a way to bring the Union closer to the people, since it questions their real added value; in this context, requests an update of the running costs of the Europa Experience centres, given the context of high inflation; requests and also an update on the EUR 37,9 million loan proposed to finance the purchase of the building of the Europa Experience in Dublin as required by Article 266(6) of the Financial Regulation;
2022/09/29
Committee: BUDG
Amendment 80 #

2022/0195(COD)

(2) The European Green Deal43 has set out an ambitious roadmap to transform the Union into a fair and prosperous society, with a modern, resource-efficient and competitive economy, aiming to protect, conserve and enhance the Union’s natural capital, and to protect the health and well-being of citizens from environment-related risks and impacts. As part of the European Green Deal, the Commission has adopted an EU Biodiversity Strategy for 203044. As part of the European Green Deal, the Commission has adopted an EU Biodiversity Strategy for 203044. In light of events in recent years that have profoundly changed the EU’s economic and political situation, those strategies must be revised in order to adopt more realistic and attainable targets. _________________ 43 Communication from the Commission to the European Parliament, the European Council, the Council, the European Economic and Social Committee and the Committee of the Regions, The European Green Deal, 11.12.2019 (COM (2019) 640 final). 44 Communication from the Commission to the European Parliament, the Council the European Economic and Social Committee and the Committee of the Regions, EU Biodiversity Strategy for 2030, Bringing nature back into our lives, 20.5.2020, COM(2020) 380 final.
2023/01/09
Committee: PECH
Amendment 84 #

2022/0195(COD)

Proposal for a regulation
Recital 9
(9) In its conclusions of 23 October 50 2020 , the Council acknowledged that preventing further decline of the current state of biodiversity and nature will be essential, but not sufficient to bring nature back into our lives. The Council reaffirmed that more ambition on nature restoration is needed as proposed with the new EU Nature Restoration Plan, which includes measures to protect and restore biodiversity beyond protected areas. The Council also stated that it awaited a proposal for legally binding nature restoration targets, subject to an impact assessment. _________________ 50 Council Conclusions on Biodiversity - the need for urgent action, 12210/20.
2023/01/09
Committee: PECH
Amendment 103 #

2022/0195(COD)

Proposal for a regulation
Recital 27
(27) Deadlines should therefore be established for putting in place restoration measures within and beyond Natura 2000 sites, in order to gradually improve the condition of protected habitat types across the Union as well as to re-establish them until the favourable reference area needed to achieve favourable conservation status of those habitat types in the Union is reached. In order to give the necessary flexibility to Member States to put in place large scale restoration efforts, it is appropriate to group habitat types according to the ecosystem to which they belong and set the time-bound and quantified area-based targets for groups of habitat types. This will allow Member States to choose which habitats to restore first within the group.
2023/01/09
Committee: PECH
Amendment 110 #

2022/0195(COD)

Proposal for a regulation
Recital 29
(29) It is necessary that the restoration measures for habitat types are adequate and suitable to reach good condition and the favourable reference areas as swiftly as possible, with a view to achieving their favourable conservation status. It is important that the restoration measures are those necessary to achieve the time-bound and quantified area-based targets. It is also necessary that the restoration measures for the habitats of the species are adequate and suitable to reach their sufficient quality and quantity as swiftly as possible with a view to achieving the favourable conservation status of the species, without damaging the economic activities linked to them.
2023/01/09
Committee: PECH
Amendment 126 #

2022/0195(COD)

Proposal for a regulation
Recital 36
(36) The EU Biodiversity Strategy for 2030 emphasises the need for stronger action to restore degraded marine ecosystems, including carbon-rich ecosystems and important fish spawning and nursery areas. The Strategy also announces that the Commission is to propose a new action plan to conserve fisheries resources and protect marine ecosystems, which must take account of the socio-economic impacts and must make provision for collaboration with all stakeholders.
2023/01/09
Committee: PECH
Amendment 132 #

2022/0195(COD)

Proposal for a regulation
Recital 38
(38) Where the protection coastal and marine habitats requires that fishing or aquaculture activities are regulated, the common fisheries policy applies. Regulation (EU) No 1380/2013 of the European Parliament and of the Council68 provides, in particular, that the common fisheries policy is to implement the ecosystem-based approach to fisheries management so as to ensure that negative impacts of fishing activities on the marine ecosystem are minimised. Such actions must be subject to a socio-economic impact study to ensure that the sector remains sustainable. That Regulation also provides that that policy is to endeavour to ensure that aquaculture and fisheries activities avoid the degradation of the marine environment. _________________ 68 Regulation (EU) No 1380/2013 of the European Parliament and of the Council of 11 December 2013 on the Common Fisheries Policy, amending Council Regulations (EC) No 1954/2003 and (EC) No 1224/2009 and repealing Council Regulations (EC) No 2371/2002 and (EC) No 639/2004 and Council Decision 2004/585/EC (OJ L 354, 28.12.2013, p. 22).
2023/01/09
Committee: PECH
Amendment 143 #

2022/0195(COD)

Proposal for a regulation
Recital 41
(41) It is important that restoration measures are also put in place for the habitats of certain marine species, such as sharks and rays, that fall within the scope of the ConvenWhere necessary, Member States may also put in place restoration measures for the habitats of certain marine species that have an important function oin the Conservation of Migratory Species of Wild Animals, but outside the scope of Directive 92/43/EEC, as they have an important function in the ecosystemecosystem and do not fall within the scope of Annex II.
2023/01/09
Committee: PECH
Amendment 163 #

2022/0195(COD)

Proposal for a regulation
Recital 74
(74) In line with the commitment in the 8th Environment Action Programme to 2030107, Member States should assess and, where possible, phase out environmentally harmful subsidies at national level, making the best use of market-based instruments and green budgeting tools, including those required to ensure a socially fair transition, and supporting businesses and other stakeholders in developing standardised natural capital accounting practices. _________________ 107 [Reference to be added when the 8th EAP has been published].
2023/01/09
Committee: PECH
Amendment 173 #

2022/0195(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point a
(a) the continuous, long-term and sustained recovery of biodiverse and resilient nature across the Union’s land and sea areas through the restoration of ecosystems to good condition as specified by Directives 92/43/EEC and 2009/147/EC;
2023/01/09
Committee: PECH
Amendment 179 #

2022/0195(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point c a (new)
(ca) identifying gaps and prioritising the research and data needed to assess the conservation status of habitats and species of Community interest in order to achieve the current targets of Directive 92/43/EEC and 2009/147/EC.
2023/01/09
Committee: PECH
Amendment 186 #

2022/0195(COD)

Proposal for a regulation
Article 1 – paragraph 2
2. This Regulation establishes a framework within which Member States shall put in place, without delay, effective and area-based restoration measures which together shall cover, by 2030, at least up to 20 % of the Union’s land and sea areas and, by 2050, all ecosystems in need of restoration.
2023/01/09
Committee: PECH
Amendment 190 #

2022/0195(COD)

Proposal for a regulation
Article 1 – paragraph 2 a (new)
2a. Each Member State shall evaluate the progress made towards achieving the target referred to in Article 1(2) and the progress made in assessing the conservation status of the habitats and species listed in Annexes I, II and III.
2023/01/09
Committee: PECH
Amendment 198 #

2022/0195(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 3
(3) ‘restoration’ means the process of actively or passively assisting the recovery of an ecosystem towards or to good condition, of a habitat type to the highest level of condition attainable and to its favourable reference area, of a habitat of a species to a sufficient quality and quantity habitat type, a habitat of a species, or of species populations to satisfactory levels, as a means of conserving or enhancing biodiversity and ecosystem resiliencean ecosystem with good conservation status as defined by Directives 92/43/EEC and 2009/147/EC;
2023/01/09
Committee: PECH
Amendment 207 #

2022/0195(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 4
(4) ‘good condition’ means a state where the key characteristics of an ecosystem, namely its physical, chemical, compositional, structural and functional state, and its landscape and seascape characteristics, reflect the high level of ecological integrity, stability and resilience necessary to ensure its long- term maintenancegood conservation status of natural habitats or species as defined in Directives 92/43/EEC and 2009/147/EC;
2023/01/09
Committee: PECH
Amendment 211 #

2022/0195(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 5
(5) ‘favourable reference area’ means the total area of a habitat type listed in Annex I to Directive 92/43/EEC in a given biogeographical region or marine region at national level that is considered the minimum necessary to ensure the long- term viability of the habitat type and its species, and all its significant ecological variations in its natural range, and which is composed of the area of the habitat type and, if that area is not sufficient, the area necessary for the re-establishment of the habitat type, taking into account, in addition, the inevitable deterioration of the areas covered as a result of force majeure events;
2023/01/09
Committee: PECH
Amendment 218 #

2022/0195(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 15 a (new)
(15a) ‘force majeure’ means the deterioration of areas covered by those habitat types, as well as unavoidable habitat transformations which are directly caused by climate change, or as a result of a plan or project of overriding public interest, for which no less damaging alternative solutions are available, to be determined on a case-by-case basis, or of a plan or project authorised in accordance with Article 6(4) of Directive 92/43/EEC;
2023/01/09
Committee: PECH
Amendment 222 #

2022/0195(COD)

Proposal for a regulation
Article 4 – paragraph 1
1. Member States shall put in place the restoration measures that are necessary to improve to good condition areas of habitat types listed in Annex I which are not in good condition. Such measures shall be in place on at least 30% of the area of each group of habitat types listed in Annex I that is not in good condition, as quantified in the national restoration plan referred to in Article 12, by 2030, on at least 60% by 2040, and on at least 90% by 2050.
2023/01/09
Committee: PECH
Amendment 226 #

2022/0195(COD)

Proposal for a regulation
Article 4 – paragraph 2
2. Member States shall put in place the restoration measures that are necessary to re-establish the habitat types listed in Annex I in areas not covered by those habitat types. Such measures shall be in place on areas representing at least 30% of the additional overall surface needed to reach the total favourable reference area of each group of habitat types listed in Annex I, as quantified in the national restoration plan referred to in Article 12, by 2030, at least 60 % of that surface by 2040, and 100% of that surface by 2050.
2023/01/09
Committee: PECH
Amendment 228 #

2022/0195(COD)

Proposal for a regulation
Article 4 – paragraph 3
3. Where the best available knowledge indicates that it is necessary, and following consultation with all stakeholders, Member States shall put in place the restoration measures for the terrestrial, coastal and freshwater habitats of the species listed in Annexes II, IV and V to Directive 92/43/EEC and of the terrestrial, coastal and freshwater habitats of wild birds covered by Directive 2009/147/EC that are necessary to improve the quality and quantity of those habitats, including by re-establishing them, and to enhance connectivity, until sufficient quality and quantity of those habitats is achieved.
2023/01/09
Committee: PECH
Amendment 247 #

2022/0195(COD)

Proposal for a regulation
Article 4 – paragraph 10 – point a
(a) an increase of habitat area in good condition for habitat types listed in Annex I until at least 90 % is in good condition and until the favourable reference area for each habitat type in each biogeographic region of their territory is reached;
2023/01/09
Committee: PECH
Amendment 248 #

2022/0195(COD)

Proposal for a regulation
Article 4 – paragraph 10 – point b
(b) an increasing trend towards the sufficient quality and quantityin respect of the terrestrial, coastal and freshwater habitats of the species referred to in Annexes II, IV and V to Directive 92/43/EEC and of the species covered by Directive 2009/147/EC.
2023/01/09
Committee: PECH
Amendment 256 #

2022/0195(COD)

Proposal for a regulation
Article 5 – paragraph 1
1. Member States shall put in place the restoration measures that are necessary to improve to good condition areas ofthe habitat types listed in Annex II which arhave not in good condition. Such measures shall be in place on at least 30% of the area of each group ofbeen assessed as such on the basis of the best available knowledge. Such measures shall be in place on each area of the habitat types listed in Annex II that is not in good condition, as quantified in the national restoration plan referred to in Article 12, by 2030, on at least 60% by 2040, and on at least 90% by 2050.
2023/01/09
Committee: PECH
Amendment 259 #

2022/0195(COD)

Proposal for a regulation
Article 5 – paragraph 1 a (new)
1a. Member States shall put in place restoration measures for the habitats of certain marine species that are not covered by the scope of Annex II, because of their significant role in the ecosystem. Member States may use the environmental measures laid down by the common fisheries policy, as described in Article 12(3) of this Regulation.
2023/01/09
Committee: PECH
Amendment 264 #

2022/0195(COD)

Proposal for a regulation
Article 5 – paragraph 2
2. Member States shall put in place the restoration measures that are necessary to re-establish the habitat types listed in Annex II in areas notthought not to be covered by those habitat types. Such measures shall be in place on areas representing at least 30 % of the additional overall surface needed to reach the total favourable reference area of each group of habitat types, as quantified in the national restoration plan referred to in Article 12, by 2030, at least 60 % of that surface by 2040, and 100 % of that surface by 2050 on the basis of the best available knowledge.
2023/01/09
Committee: PECH
Amendment 275 #

2022/0195(COD)

Proposal for a regulation
Article 5 – paragraph 2 a (new)
2a. Member States shall establish data collection programmes to assess the conservation status of each group of habitats listed in Annex II whose status is still unknown and shall list the relevant data to be collected in order to ensure the monitoring of the measures programmed, as laid down in Articles 11 and 12.
2023/01/09
Committee: PECH
Amendment 281 #

2022/0195(COD)

Proposal for a regulation
Article 5 – paragraph 4
4. The determination of the most suitable areas for restoration measures in accordance with paragraphs 1, 2 and 3 shall be based on the best available knowledge and the latest scientific evidence of the condition of the habitat types listed in Annex II, measured by the structure and functions which are necessary for their long-term maintenance, including their typical species, referred to in Article 1(e) of Directive 92/43/EEC, and of the quality and quantity of the habitats of the species referred to in paragraph 3. Areas where the habitat types listed in Annex II are in unknown condition shall be considered as not being in good condition.
2023/01/09
Committee: PECH
Amendment 348 #

2022/0195(COD)

Proposal for a regulation
Article 11 – paragraph 2 – point a – point ii
(ii) the habitat area evaluated as not in good condition;
2023/01/09
Committee: PECH
Amendment 351 #

2022/0195(COD)

Proposal for a regulation
Article 11 – paragraph 2 – point a – point ii a (new)
(iia) the habitat area currently not evaluated that remains in unknown condition;
2023/01/09
Committee: PECH
Amendment 359 #

2022/0195(COD)

Proposal for a regulation
Article 11 – paragraph 2 a (new)
2a. Member States shall adopt a list of the research needed to fill the gaps in existing data required to evaluate the conservation status of the habitat types that are not in good condition referred to in Articles 4(1), 4(2), 5(1) and 5(2) and the quality and quantity of the habitats of the species referred to in Article 4(3) and Article 5(3) that are present on their territory. Member States may include the list of research in the national restoration plans referred to in Article 12.
2023/01/09
Committee: PECH
Amendment 401 #

2022/0195(COD)

Proposal for a regulation
Article 12 – paragraph 1
1. The national restoration plan shall cover the period up to 2050, with intermediate deadlines corresponding to the targets and obligations set out in Articles 4 to 130.
2023/01/09
Committee: PECH
Amendment 404 #

2022/0195(COD)

Proposal for a regulation
Article 12 – paragraph 2 – point a a (new)
(aa) a list of the gaps in the data identified to assess the conservation status of the habitat types and the habitats of the species that remain unknown, and the measures planned to remedy such gaps; an estimate of the funding requirements for data collection and the evaluation of conservation status through a national or transnational scientific programme;
2023/01/09
Committee: PECH
Amendment 446 #

2022/0195(COD)

Proposal for a regulation
Article 15 – paragraph 1
1. Member States shall review their national restoration plan at least once every 10 yearsby 2030, in accordance with Articles 11 and 12, taking into account progress made in the implementation of the plans, the best available scientific evidence as well as available knowledge of changes or expected changes in environmental conditions due to climate change.
2023/01/09
Committee: PECH
Amendment 472 #

2022/0195(COD)

Proposal for a regulation
Annex II – paragraph 2
The classification of marine habitat types used, differentiated by marine biogeographical regions, is made according to the European nature information system (EUNIS), as revised for the marine habitats typology in 2022 by the European Environment Agency (EEA). The information on the related habitats listed in Annex I of Council Directive 92/43/EEC is based on the crosswalk published by the EEA in 2021128. _________________ 128 EUNIS marine habitat classification 2022. European Environment Agency.deleted
2023/01/09
Committee: PECH
Amendment 475 #

2022/0195(COD)

Proposal for a regulation
Annex III – title
MARINE SPECIES REFERRED TO IN ARTICLE 5(3) The list below includes the marine species listed in Annexes II, IV and V to Directives 92/43/EEC and 2009/147/EC.
2023/01/09
Committee: PECH
Amendment 519 #

2022/0195(COD)

Proposal for a regulation
Annex III a (new)
The list below includes the marine species listed in Annexes II, IV and V to Directives 92/43/EEC and 2009/147/EC.
2023/01/09
Committee: PECH
Amendment 95 #

2022/0164(COD)

Proposal for a regulation
Recital 15
(15) In addition, to incentivise a high level of ambition for reforms and investments to be included in the REPowerEU chapter, new dedicated funding sources should be provided. Member States with a surplus in the balance of payments directly related to the exceptional increase in fossil fuel prices should adequately contribute to the funding by adjusting the taxation of companies that generated excess profits.
2022/09/29
Committee: BUDGECON
Amendment 111 #

2022/0164(COD)

Proposal for a regulation
Recital 19
(19) The share of the resources available for each Member State shall be calculated on the basis of the indicators defined for the maximum financial contribution of the Regulation (EU) 2021/241, as set out in the methodology in Annex II for 70% of the amount and methodology as set out in Annex III for 30% of the amount, taking also into account the relevant dependence on gas by EU Member States. Disbursements under REPowerEU shall be made following the rules of the Recovery and Resilience Facility until the end of 2026. Payments in relation to the resources transferred from shared management funds shall be subject to the availability of funds approved in the annual EU budget.
2022/09/29
Committee: BUDGECON
Amendment 178 #

2022/0164(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 6
Regulation (EU) 2021/241
Article 21 a – paragraph 1
(1) EUR 20 000 000 000 in current prices shall be available, in line with Article 10e(4) of Directive 2003/87/EC or by subjecting to a temporary solidarity contribution the surplus profits generated from activities in the oil, gas, coal and refinery sector, for implementation under this Regulation to increase the resilience of the Union energy system through a decrease of dependence on fossil fuels and diversification of energy supplies at Union level. That amount shall be made available in the form of external assigned revenue within the meaning of Article 21(5) of the Financial Regulation.
2022/09/29
Committee: BUDGECON
Amendment 220 #

2022/0164(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 6
Regulation (EU) 2021/241
Article 21c– paragraph 1 – point a
(a) improvncreasing and renewing energy infrastructure and facilities, including new nuclear power plants, to meet immediate security of supply needs for oil and gas and electricity, notably to enable diversification of supply in the interest of the Union as a whole,
2022/09/29
Committee: BUDGECON
Amendment 116 #

2022/0162(COD)

Proposal for a regulation
Recital 33
(33) For reasons of legal certainty and in accordance with the principle of proportionality, the situations in which publication should not take place should be specified. For example, information should not be published with regard to scholarships or other forms of direct support paid to natural persons most in need, to certain contracts with a very low value or to financial support below a certain threshold provided through financial instruments or budgetary guarantees , or in cases where disclosure risks threatening the rights and freedoms of the individuals concerned as protected by the Charter of Fundamental Rights of the European Union or causing harm to the commercial interests of the recipients. For grants, however, there should be no special exemptions from the obligation to publish information on the basis of a specific threshold, in order to maintain the current practice and to allow for transparencyrelating to the final beneficiary should be possible on the basis of a specific threshold, in order to comply with the principle of proportionality, particularly in the cases of natural persons and SMEs.
2023/02/20
Committee: BUDGCONT
Amendment 122 #

2022/0162(COD)

Proposal for a regulation
Recital 46
(46) In order to increase inclusiveness, a national promotional bank or institution, as defined in Article 2(50) of this Regulation, as well as private or EU-law bodies established in a Member State and eligible to be entrusted, in accordance with sector-specific rules, with the implementation of Union funds or budgetary guarantees, should be added to the list of entities under point (c) of the first subparagraph of article 62 (1) insofar as they are controlled by public law bodies or private law bodies with public service mission eligible under indirect management, and are provided with adequate financial guarantees. Where such private or EU-law bodies do not benefit from financial backing provided by a Member State, adequate financial guarantees should take the form of joint and several liability by the controlling bodies or equivalent financial guarantees.
2023/02/20
Committee: BUDGCONT
Amendment 130 #

2022/0162(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 6
(6) ‘blending facility or platform’ means a cooperation framework established between the Commission and development or other public finance institutions with a view to combining non- repayable forms of support and/or financial instruments and/or budgetary guarantees from the budget and repayable forms of support from development or other public finance institutions such as national promotional banks or institutions pursuant to item vii of Article 62 (1), point (c), first subparagraph and defined in Article 2 (20) of Regulation (EU) 2021/523 of the European Parliament and of the Council of 24 March 2021 establishing the InvestEU programme, as well as from private-sector finance institutions and private-sector investors;
2023/02/20
Committee: BUDGCONT
Amendment 132 #

2022/0162(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 31 a (new)
(31 a) “final recipient or beneficiary" means a legal or natural person receiving financial support from the EU budget.
2023/02/20
Committee: BUDGCONT
Amendment 133 #

2022/0162(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 31 b (new)
(31 b) “financial intermediary” means an entity that acts as the middleperson between the Implementing Partner and the final recipient or beneficiary of EU support.
2023/02/20
Committee: BUDGCONT
Amendment 134 #

2022/0162(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 36 a (new)
(36 a) “implementing partner” means a financial institution whose systems and procedures have been assessed by the Commission to be entrusted with the management of EU funding, in direct, indirect and share management modes;
2023/02/20
Committee: BUDGCONT
Amendment 135 #

2022/0162(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 42 a (new)
(42 a) ‘low value financial support’ means a financial instrument or a budgetary guarantee provided to the final beneficiary with a lower value than EUR 10 000 000;
2023/02/20
Committee: BUDGCONT
Amendment 138 #

2022/0162(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 50 a (new)
(50 a) “National promotional bank or institution” means a legal entity that carries out financial activities on a professional basis which has been given mandate by a Member State or a Member State’s entity at central, regional, or local level to carry out development or promotional activities as defined in Article 2 (20) of Regulation (EU) 2021/523 of the European Parliament and of the Council of 24 March 2021 establishing the InvestEU programme;
2023/02/20
Committee: BUDGCONT
Amendment 139 #

2022/0162(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 55
(55) ‘professional conflicting interests’ means a situation in which the previous or ongoing professional activities of an economic operator affect or risk affecting its capacity to perform a contract in an independent, impartial and objective manner;deleted
2023/02/20
Committee: BUDGCONT
Amendment 141 #

2022/0162(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 57 a (new)
(57 a) “Public finance institution” may refer to financial institutions defined as or controlled by public law bodies or private law bodies and assigned to perform public interest missions, such as a national promotional bank or institution pursuant to item x of Article 62(1), point (c), first subparagraph and defined in Article 2 (20) of Regulation (EU) 2021/523;
2023/02/20
Committee: BUDGCONT
Amendment 164 #

2022/0162(COD)

Proposal for a regulation
Article 33 – paragraph 2 – point d
(d) programmes and activities should in general be implemented to achieve their set objectives without doing significant harm to the environmental objectives of climate change mitigation, climate change adaptation, the sustainable use and protection of water and marine resources, the transition to a circular economy, pollution prevention and control and the protection and restoration of biodiversity and ecosystems, as set out in Article 9 of Regulation (EU) 2020/852 of the European Parliament and of the Council51 . The percentage of the EU budget that should meet this DNSH principle should be defined in the next MFF as well as in sector-specific rules. This DNSH principle would apply to programmes under the MFF following the entry into force of this regulation. A full application of the DNSH principle shall only be addressed at the level of the programme or the respective financial instrument and should not apply to low value operations funded by the financial instrument that are lower than €10 million in accordance with Article 2 (42) bis as well as to low value grants in accordance with Article 2 (42) _________________ 51 Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (Text with EEA relevance), OJ L 198, 22.6.2020, p. 13.
2023/02/20
Committee: BUDGCONT
Amendment 200 #

2022/0162(COD)

Proposal for a regulation
Article 38 – paragraph 3 – subparagraph 1 – point d
(d) where disclosure risks threatening the rights and freedoms of the persons or entities concerned as protected by the Charter of Fundamental Rights of the European Union or harming the commercial interests of the final recipients, financial intermediaries or financial sub- intermediaries;
2023/02/20
Committee: BUDGCONT
Amendment 208 #

2022/0162(COD)

Proposal for a regulation
Title II – Chapter 8 a (new)
8a CHAPTER 8 a - Principle of proprotionality Article 38 a The principle of proportionality shall apply to all obligations on third parties stemming from the Financial Regulation. In reference to financial instruments and budgetary guarantees, a risk-based proportionality approach specified to the respective instrument shall apply. The application of the principle of proportionality shall ensure that EU programmes and activities can be implemented swiftly and with a considerably lighter administrative burdern for SMEs as well as other small- scale support in direct, indirect, or shared management, including via intermediated management and via pillar-assessed implementing partners in particular.
2023/02/20
Committee: BUDGCONT
Amendment 211 #

2022/0162(COD)

Proposal for a regulation
Article 52 – paragraph 1 – point d – point iii – indent 3
— a comprehensive overview of borrowing and lending operations; that overview shall provide inter alia the identities of third-country national buyers of bonds, purchase order information and allotment;
2023/02/20
Committee: BUDGCONT
Amendment 216 #

2022/0162(COD)

Proposal for a regulation
Article 62 – paragraph 1 – subparagraph 1 – point c – point ix a (new)
(ix a) national promotional bank or institution as defined in Article 2(20) of Regulation (EU) 2021/523.
2023/02/20
Committee: BUDGCONT
Amendment 219 #

2022/0162(COD)

Proposal for a regulation
Article 80 – paragraph 2
2. The accounting officer may deviate from the standards referred to in paragraph 1 if he or she considers this necessary in order to give a fair presentation of the assets and liabilities, charges, income and cash flow. Internationally-accepted accounting standards such as IFRS should generally be accepted for actions under indirect management. Where an accounting rule diverges materially from those standards, the notes to the financial statements shall disclose that fact and the reasons for it.
2023/02/20
Committee: BUDGCONT
Amendment 220 #

2022/0162(COD)

Proposal for a regulation
Article 102 – paragraph 4
4. The opening of insolvency proceedings shall not affect the right of the accounting officer to proceed with a recovery by means of offsetting as referred to in paragraph 1.deleted
2023/02/20
Committee: BUDGCONT
Amendment 222 #

2022/0162(COD)

Proposal for a regulation
Article 115 – paragraph 6
6. The amount of a budgetary commitment for which no payment within the meaning of Article 116 has been made within two years of the entering into the legal commitment shall be decommitted, except where that amount relates to a case under litigation before judicial courts or arbitral bodies, where the legal commitment takes the form of a financing agreement with a third country or where there are special provisions laid down in sector-specific rules, or in case of budgetary commitments under indirect management in justified cases.
2023/02/20
Committee: BUDGCONT
Amendment 227 #

2022/0162(COD)

Proposal for a regulation
Article 128 – paragraph 1
Without prejudice to existing possibilities for carrying out further audits, where an audit based on internationally accepted audit standards providing reasonable assurance has been conducted by an independent auditor on the financial statements and reports setting out the use of a Union contribution, that audit shall form the basis of the overall assurance, as further specified, where appropriate, in sector-specific rules, provided that there is sufficient evidence ofbe considered a sufficient assurance for all other potential auditors. Where appropriate, auditors may agree, prior to a single audit on certain aspects, to be considered in the sindependence and competence of the auditorgle audit. An auditor may, in duly justified cases, perform an additional but limited audit. In such cases, these additional costs may be recovered by the EU in the form of administrative costs. To that end, the report of the independent auditor and the related audit documentation shall be made available on request to the European Parliament, the Commission, the Court of Auditors and the audit authorities of Member States.
2023/02/20
Committee: BUDGCONT
Amendment 228 #

2022/0162(COD)

Proposal for a regulation
Article 130 – paragraph 2 a (new)
2 a. In carrying out the respective competences in accordance with the above paragraphs, the respective bodies apply the principle of risk-based proportionality.
2023/02/20
Committee: BUDGCONT
Amendment 236 #

2022/0162(COD)

Proposal for a regulation
Article 138 – paragraph 3 a (new)
3 a. In case of pillar-assessed institutions, the respective internal processes and control systems shall be deemed sufficient and the early-detection and exclusion system shall not apply to pillar- assessed organisations implementing funds, as referred to in Article 62 (1) (a), (b) and (c).
2023/02/20
Committee: BUDGCONT
Amendment 241 #

2022/0162(COD)

Proposal for a regulation
Article 139 – paragraph 2 – subparagraph 1
TIn case of direct, indirect and shared management, the authorising officer responsible shall exclude a person or entity referred to in Article 138(2)(i), (j), (k) and (l) where that person or entity is in one or more of the exclusion situations referred to in point (iv) of Article 139(1)(c) or points (d) of Article 139(1). In case of direct management, in the absence of a final judgment or a final administrative decision, the decision shall be taken on the basis of a preliminary classification in law of a conduct as referred to in those points, having regard to the established facts and findings under Article 139, paragraph 3, fourth subparagraph, points (a) and (d), contained in the recommendation of the panel referred to in Article 146.
2023/02/20
Committee: BUDGCONT
Amendment 260 #

2022/0162(COD)

Proposal for a regulation
Article 159 – paragraph 1 – subparagraph 3
For actions terminating before the end of the financial year concerned, the final report may replace the management declaration referred to in point (c) of the first subparagraph, provided it is submitted before 15 FebruarMay of the following financial year.
2023/02/20
Committee: BUDGCONT
Amendment 261 #

2022/0162(COD)

Proposal for a regulation
Article 159 – paragraph 1 – subparagraph 5
The documents referred to in the first subparagraph shall be provided to the Commission no later than 15 FebruarMay of the following financial year. The opinion referred to in the third subparagraph shall be provided to the Commission no later than 15 MarchJune of that year.
2023/02/20
Committee: BUDGCONT
Amendment 262 #

2022/0162(COD)

Proposal for a regulation
Article 159 – paragraph 2 – subparagraph 3 – introductory part
Entities implementing financial instruments and budgetary guarantees in accordance with Title X shall ensurequire that:
2023/02/20
Committee: BUDGCONT
Amendment 263 #

2022/0162(COD)

Proposal for a regulation
Article 159 – paragraph 2 – subparagraph 4
When concluding agreements with financial intermediaries, entities implementing financial instruments and budgetary guarantees in accordance with Title X shall request the financial intermediaries to report on the observance of the requirements laid down in this paragraph only in cases where the financial intermediary or sub- intermediary is not by law already subjected to the relevant legislation.
2023/02/20
Committee: BUDGCONT
Amendment 265 #

2022/0162(COD)

Proposal for a regulation
Article 159 – paragraph 10 a (new)
10 a. In case of pillar-assessed organisations pursuant to article 158.3 and 158.4, the EU should fully rely on the rules and procedures already in place in those organisations operating under direct, indirect and shared management modes.
2023/02/20
Committee: BUDGCONT
Amendment 273 #

2022/0162(COD)

Article 209 a Intermediated low-value grants In case of intermediated low-value grants to natural persons or SMEs, no specific grant agreement with the final beneficiaries and no gathering and publication of the final beneficiary shall be necessary.
2023/02/20
Committee: BUDGCONT
Amendment 274 #

2022/0162(COD)

Proposal for a regulation
Article 213 – paragraph 4 – subparagraph 2
For financial instruments and budgetary guarantees implemented under indirect management, the authorising officer responsible shall ensure that unaudited financial statements covering the period 1 January to 31 December prepared in compliance with the accounting rules referred to in Article 80 and with IPSAS, as well as any information necessary to produce financial statements in accordance with Article 82(2), be provided by the entities pursuant to points (c)(ii), (iii), (v) and (vi) of the first subparagraph of Article 62(1) by 15 February of the following financial year and that audited financial statements be provided by those entities by 15 AprilMay of the following financial year.
2023/02/20
Committee: BUDGCONT
Amendment 275 #

2022/0162(COD)

Proposal for a regulation
Article 214 – paragraph 3 a (new)
3 a. Budgetary guarantees may be denominated in other currencies than euro if this is to provide for the equal access to them or if this is justified by the objectives of the basic act. Article 19 shall apply accordingly.
2023/02/20
Committee: BUDGCONT
Amendment 295 #

2022/0162(COD)

Proposal for a regulation
Article 275 – paragraph 2
2. Regulation (EU, Euratom) 2018/1046, Regulation (EU, Euratom) No 966/2012 and Delegated Regulation (EU) No 1268/2012 shall continue to apply to legal commitments entered into before the entry into force of this Regulation. The existing pillar assessments, contribution agreement templates and financial framework partnership agreements mayshall continue to apply and shall be reviewed as appropriate.
2023/02/20
Committee: BUDGCONT
Amendment 296 #

2022/0162(COD)

Proposal for a regulation
Article 275 – paragraph 4
4. The obligations set out in Article 38, first and third subparagraph of paragraph 4 and in paragraph 6, shall apply only to programmes adopted under and financed from the post-2027 multiannual financial framework.
2023/02/20
Committee: BUDGCONT
Amendment 18 #

2022/0118(COD)

Proposal for a regulation
Recital 2
(2) Therefore, it should be possible for the European Maritime and Fisheries Fund (EMFF) established by Regulation (EU) No 508/2014 of the European Parliament and of the Council3 to support specific measures to mitigate the effects of the market disruption caused by the military aggression of Russia against Ukraine on the supply chain of fishery and aquaculture products. Those measures should comprise financial compensation to recognised producer organisations and associations of producer organisations which store fishery or aquaculture in accordance with Articles 30 and 31 of Regulation (EU) No 1379/2013 of the European Parliament and of the Council4 , and financial compensation to operators of the fishery and aquaculture sector, including the processing sector, for their income forgone, and for additional costs they incurred due to the market disruption caused by the military aggression of Russia against Ukraine and its effects on the supply chain of fishery and aquaculture products. Expenditure for operations supported under those measures should be eligible as of 24 February 2022, which is the date of the start of the military aggression of Russia against Ukraine. _________________ 3 Regulation (EU) No 508/2014 of the European Parliament and of the Council of 15 May 2014 on the European Maritime and Fisheries Fund and repealing Council Regulations (EC) No 2328/2003, (EC) No 861/2006, (EC) No 1198/2006 and (EC) No 791/2007 and Regulation (EU) No 1255/2011 of the European Parliament and of the Council (OJ L 149 20.5.2014, p. 1). 4 Regulation (EU) No 1379/2013 of the European Parliament and of the Council of 11 December 2013 on the common organisation of the markets in fishery and aquaculture products, amending Council Regulations (EC) No 1184/2006 and (EC) No 1224/2009 and repealing Council Regulation (EC) No 104/2000 (OJ L 354 28.12.2013, p. 1).
2022/06/16
Committee: PECH
Amendment 21 #

2022/0118(COD)

Proposal for a regulation
Recital 3
(3) It should also be possible for the EMFF to support financial compensation for the temporary cessation of fishing activities where the military aggression of Russia against Ukraine jeopardises the security of fishing activities or where its impact impedes the economic viability of fishing operations. Such temporary cessation should occur as of 24 February 2022, which is the date of the start of the military aggression of Russia against Ukraine.
2022/06/16
Committee: PECH
Amendment 22 #

2022/0118(COD)

Proposal for a regulation
Recital 4
(4) Given the significant socio- economic consequences of the market disruption caused by the military aggression of Russia against Ukraine on the supply chain of fishery and aquaculture products, it should be possible to support the temporary cessation of fishing activities caused by the military aggression of Russia against UkraineIt should be possible to support both of those measures with a maximum co-financing rate of 75100 % of eligible public expenditure.
2022/06/16
Committee: PECH
Amendment 26 #

2022/0118(COD)

Proposal for a regulation
Recital 5 a (new)
(5 a) Given the need for flexibility in the reallocation of financial resources following the military aggression of Russia against Ukraine, it should be possible to have a 50 % of the total amount available per Member State to be equally distributed among its regions thus allowing all the regions, including the ones that already used the most of their amount in the context of EMFF, to alleviate the consequences of the war in Ukraine for their fishing and aquaculture sector.
2022/06/16
Committee: PECH
Amendment 28 #

2022/0118(COD)

Proposal for a regulation
Recital 5 b (new)
(5 b) Given the need for flexibility in the reallocation of financial resources following the military aggression of Russia against Ukraine, it should be possible to have a derogation from the N+3 rules applicable to the Member States and, as a consequence, to the regions.
2022/06/16
Committee: PECH
Amendment 31 #

2022/0118(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 3
Regulation (EU) No 508/2014
Article 33 – paragraph 1 – point (d)
(d) where the temporary cessation of fishing activities occurs between 1 February and 31 December 2020 as a consequence of the COVID-19 outbreak, including for vessels operating under a Sustainable fisheries partnership agreement, or occurs as of 24 February 2022 as a consequence of the military aggression of Russia against Ukraine that jeopardises the security of fishing activities or impedes the economic viability of fishing operations.
2022/06/16
Committee: PECH
Amendment 33 #

2022/0118(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 4
Regulation (EU) No 508/2014
Article 33 – paragraph 1 – subparagraph 2
In accordance with the second subparagraph of Article 65(9) of Regulation (EU) No 1303/2013 and by way of derogation from the first subparagraph thereof, expenditure for operations supported under point (d) of the first subparagraph of this paragraph shall be eligible as of 1 February 2020 if they are the consequence of the COVID-19 outbreak, or as of 24 February 2022 if they are the consequence of the military aggression of Russia against Ukraine that jeopardises the security of fishing activities or impedes the economic viability of fishing operations.
2022/06/16
Committee: PECH
Amendment 35 #

2022/0118(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 6
4a. The EMFF may support measures for temporary cessation of fishing activities caused by the COVID-19 outbreak or by the military aggression of Russia against Ukraine that jeopardises the security of fishing activities or impedes the economic viability of fishing operations, as provided for in point (d) of Article 33(1), under the conditions laid down in Article 33.
2022/06/16
Committee: PECH
Amendment 243 #

2022/0032(COD)

Proposal for a regulation
Article 13 – paragraph 2
2. In order to reach security of supply in the Union, Member States may, without prejudice to Articles 107 and 108 of the Treaty, apply support schemes and provide for administrative support to Integrated Production Facilities and Open EU Foundries in accordance with Article 14. Member States should be able to provide State aid equal to that provided by third countries in the chip production and in the supply chain. All State aid financing initiatives in this field shall be deducted from the deficit calculation.
2022/09/12
Committee: ECON
Amendment 245 #

2022/0032(COD)

Proposal for a regulation
Article 13 – paragraph 2 a (new)
2 a. European structural funds may be used to co-finance initiatives authorised under the Chips Act Regulation, and the Member States' part of the co-financing shall be deducted from the deficit calculation.
2022/09/12
Committee: ECON
Amendment 4 #

2022/0015(BUD)

Motion for a resolution
Paragraph 6 a (new)
6 a. Would like to see greater transparency on the means used for technical assistance and on its effectiveness;
2022/02/08
Committee: BUDG
Amendment 9 #

2022/0010(BUD)

Motion for a resolution
Paragraph 7 a (new)
7 a. Regrets the length of the procedure, especially in difficult economic circumstances, and calls on the Commission to speed up the process of assessing applications;
2022/02/08
Committee: BUDG
Amendment 48 #

2021/2251(INI)

Motion for a resolution
Paragraph 2
2. Welcomes the fact that even if the economic effects of the RRF cannot be fully disentangled from other developments, it seems fair to conclude that, so far, the RRF has had and will have in the coming years limited positive effects on gross domestic product (GDP) and that its effective implementation will be key, but insufficient for the EU’s economic growth; recognises that the RRF has helped to cushion EU economies and citizens from the most acute impacts of the COVID-19 pandemic and is positively contributing to the EU’s recovery and resilience; despite the fact that most of the contribution to investment comes from the expenditure provided from national budgets, as certified by the European Commission's autumn 2021forecasts;
2022/03/21
Committee: BUDGECON
Amendment 61 #

2021/2251(INI)

Motion for a resolution
Paragraph 3
3. Notes that, according to the Commission, the real GDP of the EU-27 could be around 1.5 % higherCalls on the Commission to recalculate the real GDP of the EU-27 in 2024, than withaking into account NGEU investments19 , when implemented effectivelythe increased energy prices and the Russo-Ukrainian War;; notes, furthermore, that the Commission forecasts that RRF grants will fund 24 % of total recovery support measures in 2022; __________________ 19 European Commission discussion paper 144, Quantifying Spillovers of Next Generation EU Investment, July 2021. https://ec.europa.eu/info/sites/default/files /economy-finance/dp144_en.pdf
2022/03/21
Committee: BUDGECON
Amendment 103 #

2021/2251(INI)

Motion for a resolution
Paragraph 7 a (new)
7 a. Considering the unsustainable increase in raw material prices, strongly aggravated by the economic sanctions applied following Russian aggression in Ukraine, and the negative effects that this will have on a large part of the European economy, believes that is necessary a repositioning of the objectives, timeframes and conditionalities originally envisaged by the NGEU agenda in order to allow the requesting Member States to adapt their respective NRRPs to the changed needs;
2022/03/21
Committee: BUDGECON
Amendment 178 #

2021/2251(INI)

Motion for a resolution
Paragraph 16
16. Notes the fact that the Commission’s assessments concluded that all approved NRRPs address all six pillars of the RRF and satisfactorily fulfil all assessment criteria as set out in RRF Regulation and represent a balanced package of reforms and investments; considers that Member States could have better aligned their NRRPs to the six RRF pillars and the requirements of the RRF Regulthe assessment criteria of the RRF Regulation should be however revised to allow greater investment in gas and nuclear infrastructures, in order to achieve a fast and stable energy independence of European countries from the Russian Federation;
2022/03/21
Committee: BUDGECON
Amendment 30 #

2021/2203(INI)

Motion for a resolution
Paragraph 2 a (new)
2 a. Stresses the fact that sustaining microenterprises, SMEs and mid-caps must remain a key objective for the EIB; reiterates, moreover, that the EIB should further strengthen its support for microenterprises, especially in times of severe crisis, including through cooperation with National Support Banks and local banking networks;
2022/03/24
Committee: BUDG
Amendment 59 #

2021/2203(INI)

Motion for a resolution
Paragraph 6
6. Welcomes the factTakes note that 43 % of lending in 2021 was climate and environment related and applaudsof the intention to meet the climate lending target in 2022; stresses that the Climate Bank Roadmap (CBR) alone is not enough to ensure alignment with the objective of the Paris Agreement of limiting global warming to 1.5°C; calls for an immediate halt to carbon markets and offsetting and for all action plans for the implementation of the CBR to be made publicexpresses, however, great concern about the additional cost borne by European citizens, who are already being faced with an unprecedented increase in energy prices;
2022/03/24
Committee: BUDG
Amendment 74 #

2021/2203(INI)

Motion for a resolution
Paragraph 10
10. ExpressesTakes note, in view of the upcoming review of the energy lending policy, its full support forof the statement of President Hoyer: ‘We believe that we have a mission to concentrate on sustainability and achieving the Paris goals with the means of a long- term investor institution.[...] Therefore I don’t see a change in our energy lending policy’; calls for the EIB to retain the possibility to apply stricter criteria than the EU taxonomy and finance fossil-free energy only, and in particular to exclude financing for so- called low-carbon gas, especially for district heating, grey or blue hydrogen and forest biomassemphasises, however, that climate ambitions should not call into question the need to achieve an adequate level of energy security, at this time more important than ever for being able to achieve a fast and stable independence of European countries from the Russian Federation;
2022/03/24
Committee: BUDG
Amendment 122 #

2021/2203(INI)

Motion for a resolution
Paragraph 17 a (new)
17 a. Regrets the fact that at the end of 2020, the total disbursed exposure in Turkey, a country that does not respect several of the basic principles of freedom and democracy, amounted to EUR 10.4 billion and that a further EUR 0.5 billion has been committed in signed operations not yet disbursed, of which EUR 0.1 billion is expected to be at the EIB’s own risk;
2022/03/24
Committee: BUDG
Amendment 138 #

2021/2203(INI)

Motion for a resolution
Paragraph 18
18. Regrets that the new ESSF includes no significant improvement in human rights protection or procedures to prevent human rights violations; calls for this to be addressed in the statement on human rights, especially concerning child and forced labour; is very concerned that in some cases, the EIB has continued to disburse loans despite clear human and workers' rights abuses;
2022/03/24
Committee: BUDG
Amendment 147 #

2021/2203(INI)

Motion for a resolution
Paragraph 19
19. Is very concerned by the decline of transparency at the EIB: in 2010, 96.1 % of all projects were published three weeks before Board approval, falling to only 60 % in 2020; calls for more transparency and accountability, also towards EU institutions, in particular Parliament; calls for the timely publication of the minutes of the EIB’s Board of Directors;
2022/03/24
Committee: BUDG
Amendment 168 #

2021/2203(INI)

Motion for a resolution
Paragraph 23 a (new)
23 a. Notes with concern the continued increase in administrative overheads, which is mainly due to the rise in staff related costs; calls on the EIB to exercise cost discipline and to preserve the flexibility and efficiency of its management structure;
2022/03/24
Committee: BUDG
Amendment 172 #

2021/2203(INI)

Motion for a resolution
Paragraph 25
25. Takes note of the new anti-fraud policy; is concerned about the opaque way in which it was adopted; asks the EIB to disclose annually the rate of recovery of funds lent in the event of proven fraud;
2022/03/24
Committee: BUDG
Amendment 25 #

2021/2189(INI)

Motion for a resolution
Recital A a (new)
Aa. whereas the food security and livelihoods that these industries provide are crucial in many coastal, riverine, island, inland and lagoon regions;
2022/02/14
Committee: PECH
Amendment 26 #

2021/2189(INI)

Motion for a resolution
Recital B
B. whereas the European Green Deal, the Biodiversity Strategy and the Farm to Fork Strategy aim to achieve a carbon neutral Europe by 2050 and make food systems fair, healthy and environmentally friendly across the Union; whereas aquaculture can provide healthy food with a smaller climate and environmental footprint than that of land- based farming;
2022/02/14
Committee: PECH
Amendment 53 #

2021/2189(INI)

Motion for a resolution
Recital K a (new)
Ka. whereas spatial planning and management of aquaculture using an ecosystemic approach could strengthen the capacity to adapt to the effects of climate change, which requires developing and improving measures and management plans to prevent and tackle adverse weather events through participatory approaches and the best available information;
2022/02/14
Committee: PECH
Amendment 63 #

2021/2189(INI)

Motion for a resolution
Recital M a (new)
Ma. whereas the entire aquaculture sector in Europe will have to bear the burden of increasing electricity and gas costs, with an even worse outlook due to rising production costs and marketing uncertainty caused also by the pandemic crisis;
2022/02/14
Committee: PECH
Amendment 67 #

2021/2189(INI)

Motion for a resolution
Recital M b (new)
Mb. whereas electricity and gas supply costs increased by between 50% and 65% from 2020 to 2021, and the outlook for 2022 is even worse due to increases in raw materials and components costs;
2022/02/14
Committee: PECH
Amendment 73 #

2021/2189(INI)

Motion for a resolution
Recital M c (new)
Mc. whereas many enterprises are finding it difficult to maintain their market share, both domestically and abroad;
2022/02/14
Committee: PECH
Amendment 85 #

2021/2189(INI)

Motion for a resolution
Paragraph 1
1. Welcomes the Commission communication on the strategic guidelines for a more sustainable and competitive EU aquaculture for the period 2021 to 2030; considers these guidelines comprehensive, sound and fitsuitable for the purpose of promoting sustainable and competitive EU aquaculture with a long-term focus on the sustainability of the aquaculture sector and on its contribution to the European Green Deal;
2022/02/14
Committee: PECH
Amendment 96 #

2021/2189(INI)

Motion for a resolution
Paragraph 3
3. Points out that aquaculture is expected to contribute to food supply and food security by rebalancing the fish gap, since the EU needs to import 70 % of all the aquatic food it consumes and that causes an annual EUR 21 billion trade deficit (in 2019); considers that aquaculture has sizeable growth potential that needs to be enhanced, so that it can provide sustainable and quality food products, reduce our dependence on aquatic food imports and create more jobs, especially in coastal regions and wetlands; calls on the Commission and the Member States to provide a predictable, streamlined and business- friendly legal framework, and making full use of the available financing resources of the European Maritime Fisheries and Aquaculture Fund (EMFAF), as this is the only environment under which these aquaculture contributions can occur at European level;
2022/02/14
Committee: PECH
Amendment 115 #

2021/2189(INI)

Motion for a resolution
Paragraph 5
5. Stresses that the growth potential of the EU aquaculture sector needs to be developed in a sustainable manner, taking all three pillars of sustainability – economic, social and environmental – into consideration; top in economic, social and environmental terms; points out the need to have a market-oriented sector with a legal framework for attracting business investments and protecting the environment by using sustainable feed sources, improving aquatic health and biosecurity, reducing the burden of disease and encouraging the responsible and prudent use of antimicrobials, improving vaccine use;
2022/02/14
Committee: PECH
Amendment 120 #

2021/2189(INI)

Motion for a resolution
Paragraph 6 a (new)
6a. Believes that large-scale investment is required through mitigation and adaptation measures to prevent and reduce the impact of catastrophes and extreme weather events on the fishing and aquaculture sector, with a view to strengthening productive and resilient aquatic ecosystems and maintaining benefits for consumers and animal welfare;
2022/02/14
Committee: PECH
Amendment 122 #

2021/2189(INI)

Motion for a resolution
Paragraph 7
7. Points out that the implementation of the strategic guidelines should pay more attention to micro and small aquaculture enterprises and their specific needs, while recognising the essential role of trade associations in supporting them;
2022/02/14
Committee: PECH
Amendment 127 #

2021/2189(INI)

Motion for a resolution
Paragraph 8
8. Calls on the Commission and the Member States to facilitate, encourage and provide adequate support for environmentally friendly aquaculture, such as organic farms, closed-system aquaculture, algae, shellfish, pond fish farming and integrated multi-trophic and aquaponic aquaculture systems;
2022/02/14
Committee: PECH
Amendment 136 #

2021/2189(INI)

Motion for a resolution
Paragraph 11
11. Welcomes the Commission’s intention to support green business models, such as those based on carbon sequestration, in order to make supply chains more sustainable that are sustainable from an economic and environmental point of view; stresses, in this regard, that certain aquaculture practices, such as mussel or oyster farming, can be successful models for the future, in the context of the Emissions Trading System; calls on the Commission and the Member States to support this type of green business in the light of the strategy’s objectives;
2022/02/14
Committee: PECH
Amendment 147 #

2021/2189(INI)

Motion for a resolution
Paragraph 12
12. Considers that the aquaculture sector should commit to actively applying evidence-based interventions to improve fish welfare, including maintaining water quality within welfare-relevant limits and avoiding overcrowding, as a way of reducing the prevalence and spread of diseases, which diminishes the need for antibiotics and lowers pollution levels; highlights that the aquaculture sector should continue to improve farming methods in line with the most up-to-date scientific knowledge available in order to achieve better environmental results, resilience against climate change and the optimisation of resource use;
2022/02/14
Committee: PECH
Amendment 158 #

2021/2189(INI)

Motion for a resolution
Paragraph 14
14. Welcomes the role of women in aquaculture value chains and urges accordingly that they be guaranteed decent working conditions and visibility, equal access to employment in the sector and adequate legal recognition, and representation in decision-making structures and processes;
2022/02/14
Committee: PECH
Amendment 189 #

2021/2189(INI)

Motion for a resolution
Paragraph 20
20. Calls on the Commission to acknowledge the importance of conducting EU-wide communication campaigns about the EU aquaculture sector and the importance of production with funds under direct management in line with the objectives of the strategic guidelines; calls on the Member States and the Commission to include the organisation of information and communication campaigns in all operational programmes, in line with the objectives of the strategic guidelines, on specific subsectors of the EU aquaculture sector;
2022/02/14
Committee: PECH
Amendment 192 #

2021/2189(INI)

Motion for a resolution
Paragraph 21
21. Urges the Commission and the Member States to substantially increase funds for research and innovation in the aquaculture sector, specially new knowledge fields such as the study of the microbiome or the scientific monitoring of aquaculture environmental services; calls on the Member States to enhance the transfer of science-based knowledge to industry and other stakeholders;
2022/02/14
Committee: PECH
Amendment 200 #

2021/2189(INI)

Motion for a resolution
Paragraph 22
22. Calls on the Commission to work further on levelling the playing field through the revision of international trade agreements, including updating rules for the better implementation of aquatic food labelling; considers that, in specific cases such as caviar labelling, the legal framework on information for consumers should be revised; calls on the Commission to analyse the inclusion of sustainable aquaculture sectors in the EU Carbon Border Adjustment Mechanism in order to create incentives for European industries and EU trade partners to decarbonise their industries and therefore support both EU and global climate policies towards greenhouse-gas neutrality, and at the same time, without being discriminatory or constituting a disguised restriction on international trade;
2022/02/14
Committee: PECH
Amendment 206 #

2021/2189(INI)

Motion for a resolution
Paragraph 22 a (new)
22a. Calls on the Commission to adopt urgent measures to alleviate the emergency caused by electricity and gas price increases, with particular emphasis on purification centres and packaging and dispatch centres, which are highly technological and automated, so as to protect enterprises and ensure business and production continuity;
2022/02/14
Committee: PECH
Amendment 212 #

2021/2189(INI)

Motion for a resolution
Paragraph 23
23. Stresses the need to improve the availability of veterinary medicines (especially vaccines) for the aquaculture sector in order to be able to comply with the proposed actions on fish health and welfare; calls on the Commission to support scientific knowledge on fish welfare, promote best aquaculture practices on fish wellbeing and promote the creation of EU reference centres for fish welfare;
2022/02/14
Committee: PECH
Amendment 228 #

2021/2189(INI)

Motion for a resolution
Paragraph 28
28. Considers that sustainable aquaculture in general and organic aquaculture will play a key role in meeting the EU’s ambition for a carbon neutral Europe by 2050 by reducing greenhouse gas emissions and contributing to climate change mitigation, while supplying additional benefits to the environment and biodiversity;
2022/02/14
Committee: PECH
Amendment 2 #

2021/2188(INI)

Motion for a resolution
Citation 7
— having regard to the Commission communication of 11 December 2019 entitled ‘The European Green Deal’ (COM(2019)0640),deleted
2021/12/15
Committee: PECH
Amendment 12 #

2021/2188(INI)

Motion for a resolution
Citation 13
— having regard to the proposal for a regulation of the European Parliament and of the Council of 127 Junely 20218 on the European Maritime and, Fisheries and Aquaculture Fund and repealing Regulation (EU) No 508/2012017/1004 of the European Parliament and of the Council (COM(2018)0390),
2021/12/15
Committee: PECH
Amendment 30 #

2021/2188(INI)

Motion for a resolution
Recital B
B. whereas the common fisheries policy (CFP) seekleads to guarantee the proper conservation and management of marine biological resources and ensure that fishexcessive centralisation of fisheries management and prevents Member States from applying mand aquaculture activities contribute to environmental, social and economic sustainabilityagement adapted to local specificities, which is essential to ensure the socio-economic viability and sustainability of the sector;
2021/12/15
Committee: PECH
Amendment 34 #

2021/2188(INI)

Motion for a resolution
Recital C
C. whereas, under SDG 14Goal 14 of the 2030 Agenda for Sustainable Development, it is imperative to conserve oceans, seas and marine resources and promote their sustainable use;
2021/12/15
Committee: PECH
Amendment 37 #

2021/2188(INI)

Motion for a resolution
Recital D
D. whereas the conservation and sustainable use of marine biodiversity is fundamental to the health of the oceans, which contain millions of species, and hence to the health and survival of the planet and the sector;
2021/12/15
Committee: PECH
Amendment 51 #

2021/2188(INI)

Motion for a resolution
Recital G a (new)
Ga. whereas fishers play an important role in the collection of abandoned marine litter in the sea, whether by carrying out targeted campaigns or by collecting litter incidentally during fishing operations;
2021/12/15
Committee: PECH
Amendment 54 #

2021/2188(INI)

Motion for a resolution
Recital G b (new)
Gb. whereas women play an important role in the fisheries and aquaculture sector, and whereas there is a need to increase their visibility and ensure equal access to employment in the sector, as well as appropriate legal recognition;
2021/12/15
Committee: PECH
Amendment 57 #

2021/2188(INI)

Motion for a resolution
Recital G c (new)
Gc. whereas small-scale artisanal fisheries have specific characteristics and needs;
2021/12/15
Committee: PECH
Amendment 58 #

2021/2188(INI)

Motion for a resolution
Recital G d (new)
Gd. whereas the EU’s fishers and fish farmers play an essential role throughout the EU, in terms of territorial identity, cultural tradition, food security, employment and income;
2021/12/15
Committee: PECH
Amendment 74 #

2021/2188(INI)

Motion for a resolution
Recital J a (new)
Ja. whereas the management of the coastline and integrated maritime planning are the main instruments for managing maritime space;
2021/12/15
Committee: PECH
Amendment 78 #

2021/2188(INI)

Motion for a resolution
Recital K
K. whereas a proposal for legally binding nature restoration targets needs to be drawn up under the EU biodiversity strategy for 2030 in line with the objective of protecting 30% of the EU maritime area, of which 10% should be subject to strict conservation measures;deleted
2021/12/15
Committee: PECH
Amendment 81 #

2021/2188(INI)

Motion for a resolution
Recital L
L. whereas there is a need for specific guidelines and sound planning for each of the EU's maritime regions regard increase in drastic European management plans, such as "West Med" in the Mediterranean Sea, which by 2024 will reduce the fishing effort of Spanish, French and Italian trawlers to below their break-even point, may eventually lead to the death of European fishing which is already the most regulated sector ing the objectives to be attained in marine conservation areaworld; whereas the demand for seafood products by European consumers will not diminish for all that and will be redirected to other markets with less virtuous practices;
2021/12/15
Committee: PECH
Amendment 82 #

2021/2188(INI)

Motion for a resolution
Recital M
M. whereas it is necessary to have a global vision for the mthe management of ecosystems requires a holistic approach that takes into account all the causes of biodiversity loss, as demonstrated by countless scientific studies, such as climate chanagement and conservation of marine resources, marine acidification, the rise in temperatures, the appearance of non-native species and coastal erosion;
2021/12/15
Committee: PECH
Amendment 87 #

2021/2188(INI)

Motion for a resolution
Recital M a (new)
Ma. whereas the effects of human activity, including in non-coastal regions, are responsible for the state of marine waters, as a result of inflow from tributaries;
2021/12/15
Committee: PECH
Amendment 92 #

2021/2188(INI)

Motion for a resolution
Recital N a (new)
Na. whereas in recent decades the fisheries and aquaculture sectors have provided support for the EU’s ecological transition in terms of reducing fishing days, more sustainable practices and diversification of activities;
2021/12/15
Committee: PECH
Amendment 95 #

2021/2188(INI)

Motion for a resolution
Recital N b (new)
Nb. whereas European mussel farming produces significant volumes and makes a contribution in terms of ecosystem services and CO2 sequestration;
2021/12/15
Committee: PECH
Amendment 96 #

2021/2188(INI)

Motion for a resolution
Recital N c (new)
Nc. whereas the Mediterranean is an enclosed sea and the status of the water and the ecosystems depends not only on the behaviour of EU operators but on the joint policies of all the countries bordering it, which share the same sea basin;
2021/12/15
Committee: PECH
Amendment 100 #

2021/2188(INI)

Motion for a resolution
Paragraph 1
1. WelcomesTakes note of the Commission's new sustainable EU blue economy strategy; regrets, however, the lack of, which does not include specific objectives for the different sectors, in particular fisheries and aquaculture; points out that new action plans must always be based on the best available scientific knowledge and on environmental, social and economic impact studies;
2021/12/15
Committee: PECH
Amendment 109 #

2021/2188(INI)

Motion for a resolution
Paragraph 2
2. Urges allthe Commission to put in place new projects and new instruments for blue economy stakeholders to base their activities on thenable them to make responsible use of natural resources, and to launch decarbonisation processes and circular economy concepts;
2021/12/15
Committee: PECH
Amendment 114 #

2021/2188(INI)

Motion for a resolution
Paragraph 3
3. Calls on the Commission to establish legally binding instruments to make the blue economy ‘greener’ and to align it with the overall objectives of the European Green Deal;deleted
2021/12/15
Committee: PECH
Amendment 115 #

2021/2188(INI)

Motion for a resolution
Paragraph 3
3. Calls on the Commission to establish legally binding instruments to make the blue economy ‘greener’ and to align it with the overall objectives of the European Green Deal;deleted
2021/12/15
Committee: PECH
Amendment 129 #

2021/2188(INI)

Motion for a resolution
Paragraph 4
4. Stresses the importance of establishing bilateral partnership arrangements with third countries that enshrine labour standards guaranteeing a safe working environment and decent pay for all those working in the fisheries and aquaculture sectors, as well as other sectors of the blue economy: stresses that bilateral partnership arrangements should always seek to respect the highest environmental, social and economic sustainability criteria;
2021/12/15
Committee: PECH
Amendment 134 #

2021/2188(INI)

Motion for a resolution
Paragraph 4 a (new)
4a. Stresses the importance of enhancing dialogue with countries bordering the Mediterranean, particularly those on its southern shore, and of reinforcing funding for project lines that target international cooperation in blue economy sectors (Interreg Next Med, Interreg Euro-MED Programme 2021- 2027, Switch Med, etc.);
2021/12/15
Committee: PECH
Amendment 141 #

2021/2188(INI)

Motion for a resolution
Paragraph 6
6. Welcomes the role of regional sea conventions and regional fisheries management organisations in strengthening governance based on the best available scientific knowledge and easily accessible to operators;
2021/12/15
Committee: PECH
Amendment 145 #

2021/2188(INI)

Motion for a resolution
Paragraph 7
7. Recalls that the sustainable management of resources based on the best available scientific knowledge that is backed up and supported by a close socio- economic analysis must be a key priority in order to attain the goals on the EU strategic agenda and must also be included in bilateral partnership arrangements;
2021/12/15
Committee: PECH
Amendment 155 #

2021/2188(INI)

Motion for a resolution
Paragraph 9
9. Calls on the Commission and the Member States to support the sustainable development of small-scale fishing and aquaculture value chains by promoting the harmonisation of selective, non-destructive and energy- efficient fishing methodand aquaculture methods, facilitating the exchange of knowledge with the EU’s scientific community and reducing administrative burdens;
2021/12/15
Committee: PECH
Amendment 158 #

2021/2188(INI)

Motion for a resolution
Paragraph 9
9. Calls on the Commission and the Member States to support the sustainable development of small-scale fishing value chains by promoting the harmonisation of selective, non-destructive and, if possible, energy- efficient fishing methods;
2021/12/15
Committee: PECH
Amendment 161 #

2021/2188(INI)

Motion for a resolution
Paragraph 9 a (new)
9a. Stresses the importance of protecting jobs in the fisheries and aquaculture sectors, so that decisions that are overly protective of resources do not have an excessive impact on those working on board or on fishing enterprises;
2021/12/15
Committee: PECH
Amendment 166 #

2021/2188(INI)

Motion for a resolution
Paragraph 10
10. Urges the Commission and the Member States to take the necessary measures to improve the collection of data on recreational fishing datain the sea and in inland freshwater and brackish waterways, bearing in mind the environmental impact and socio- economic value of this activity, in order to ensure fair and balanced management of the fisheries and aquaculture sector;
2021/12/15
Committee: PECH
Amendment 175 #

2021/2188(INI)

Motion for a resolution
Paragraph 12
12. Calls for the creation of an EU forum for dialogue that is transparent and ensures a balance of power between stakeholders, in a bid to foster intersectoral cooperation, experience sharing and conflict resolution; ; recalls, however that 80% of marine pollution comes from land-based activities, and thus, measures to combat the negative effects of these activities should be a priority;
2021/12/15
Committee: PECH
Amendment 181 #

2021/2188(INI)

Motion for a resolution
Paragraph 13
13. Urges the Commission and the Member States to take specific actions to boost investment in the fisheries and aquaculture sectors underby activating funding from the new European Maritime, Fisheries and Aquaculture Fund (EMFAF), together with other EU programmes such as the Recovery and Resilience Mechanism;
2021/12/15
Committee: PECH
Amendment 185 #

2021/2188(INI)

Motion for a resolution
Paragraph 14
14. Stresses the need to develop more comprehensive strategies to adapprotect the fisheries and aquaculture sectors tofrom the fallout from climate change in view ofand to adapt them so that they become more resilient to its impact on communities and their livelihoods;
2021/12/15
Committee: PECH
Amendment 192 #

2021/2188(INI)

Motion for a resolution
Paragraph 15
15. Considers that greater job security and better earnings in the fisheries and aquaculture sector are essential if it is to attract newcomers, thereby ensuring its rejuvenation and continued survival;
2021/12/15
Committee: PECH
Amendment 198 #

2021/2188(INI)

Motion for a resolution
Paragraph 16
16. Stresses that, in order to improve the competitiveness and economic performance of the fisheries and aquaculture sectors, it is necessary to focus on vocational training, lifelong learning, counselling services and the dissemination of technical and scientific knowledge and innovative practices, recognising the contribution that the trade associations make in this regard;
2021/12/15
Committee: PECH
Amendment 207 #

2021/2188(INI)

Motion for a resolution
Paragraph 18
18. Welcomes the role of women in sustainable fishing and aquaculture value chains and accordingly urges that they be guaranteed decent working conditions, as well as visibility and representation in decision- making structures and processes;
2021/12/15
Committee: PECH
Amendment 222 #

2021/2188(INI)

Motion for a resolution
Paragraph 19
19. Warns that the dumping of waste and pollutants at sea is harmful to the environment, results in heavy economic losses to the fisheries and aquaculture sectors and other activities, and affects human health through the entire food chain; welcomes EMFAF decision to provide funding for fishermen to recover and collect refuse and lost fishing gear;
2021/12/15
Committee: PECH
Amendment 234 #

2021/2188(INI)

Motion for a resolution
Paragraph 20
20. Considers that the aquaculture sector should limifish farming sector will have to gradually adapt fish stocking densities as a way of reducing diseases and their spread, diminishing the need for antibiotics and lowering pollution levels;
2021/12/15
Committee: PECH
Amendment 235 #

2021/2188(INI)

Motion for a resolution
Paragraph 20 a (new)
20a. Considers that the aquaculture sector should continue to improve rearing methods on the basis of scientific knowledge and good practice in order to achieve better environmental results, increase resilience to climate change and reduce and optimise resource use;
2021/12/15
Committee: PECH
Amendment 244 #

2021/2188(INI)

Motion for a resolution
Paragraph 22
22. Stresses that sustainable food from the oceans, seas and freshwater sources mustwill have to be produced mainly by responsible fishing and sustainable aquaculture alone; calls on the Commission to require and monitor the same sustainability standards for imported products too;
2021/12/15
Committee: PECH
Amendment 249 #

2021/2188(INI)

Motion for a resolution
Paragraph 22 a (new)
22a. Stresses the need to create a situation of parity with products imported from non-EU countries, ensuring that all fishery and aquaculture products consumed in the EU come from sustainable food systems; calls on the Commission, therefore, to adopt all the measures necessary to ensure fair competition;
2021/12/15
Committee: PECH
Amendment 252 #

2021/2188(INI)

Motion for a resolution
Paragraph 23
23. Believes it necessary to promote sustainable aquaculture models that could contribute to the conservation of ecosystems affording protection against the effects of climate change; underlines the importance of differentiating between production and protein-processing aquaculture, particularly when the latter involves practices that put pressure on the sustainability of marine resources in other parts of the world;
2021/12/15
Committee: PECH
Amendment 260 #

2021/2188(INI)

Motion for a resolution
Paragraph 24
24. Ccalls for the CFP to be applied across the board to all EU fishing fleetsdapted to the specificities of all EU fishing fleets and the Member States to which they belong, to reduce the impact of their particular activities on habitats, other resources and other species, while maintaining stocks above the biomass levels necessary to generate maximum sustainable yields;
2021/12/15
Committee: PECH
Amendment 262 #

2021/2188(INI)

Motion for a resolution
Paragraph 25
25. Highlights the role of the fisheries and aquaculture sectors in energy transition and combating climate change, through decarbonisation, ecosystem services and through the promotion of activities such as marine refuse collection that are conducive to a circular economy;
2021/12/15
Committee: PECH
Amendment 267 #

2021/2188(INI)

Motion for a resolution
Paragraph 26
26. Calls for legally binding EU targets for the recovery and conservation of marine biodiversity and the restoration of degraded ecosystems;deleted
2021/12/15
Committee: PECH
Amendment 271 #

2021/2188(INI)

Motion for a resolution
Paragraph 26
26. Calls for legally binding EU targets for the recovery and conservation of marine biodiversity, the protection of water used by aquaculture and the restoration of degraded ecosystems;
2021/12/15
Committee: PECH
Amendment 273 #

2021/2188(INI)

Motion for a resolution
Paragraph 27
27. Calls for urgent measurescontinued efforts, using all the means available, to combat illegal, unreported and unregulated fishing, which is still one of the most serious threats to the health of ecosystems and the economic competitiveness of the fisheries sector itselffishing enterprises;
2021/12/15
Committee: PECH
Amendment 274 #

2021/2188(INI)

Motion for a resolution
Paragraph 27 a (new)
27a. Urges the Commission to support EU shellfish producers because of the major contribution this sector makes to the European Green Deal: it is one of the few sectors of the blue economy that is based on extensive practices (without the use of feed), able to break down the nutrients (nitrogen and phosphorus) present in the aqueous environment and capture CO2 in order to form shells;
2021/12/15
Committee: PECH
Amendment 292 #

2021/2188(INI)

Motion for a resolution
Paragraph 30
30. Urges the European Commission, Member States and regions to work together in order to promote and support local initiatives to preserve livelihoods and traditions and cultural heritage associated with fisheries and aquaculture;
2021/12/15
Committee: PECH
Amendment 297 #

2021/2188(INI)

Motion for a resolution
Paragraph 31
31. Considers it important to raise positive consumer awareness regarding the nutritional value of the various fishery and aquaculture products; points out that it is essential to educate consumers with regard to food in order to change their behaviour, particularly concerning food waste, and to that end calls for the introduction of EU fish products in corporate catering;
2021/12/15
Committee: PECH
Amendment 103 #

2021/2185(INI)

Motion for a resolution
Paragraph 4 – point 1 (new)
(1) Demands that as long as there are restrictions imposed by governments to contain the spread of the virus, all State aid necessary to support affected economic activities should be allowed, especially national schemes allowing moratoria on bank financing and direct grants to SMEs;
2022/01/27
Committee: ECON
Amendment 121 #

2021/2185(INI)

Motion for a resolution
Paragraph 6 – point 1 (new)
(1) Calls on the Commission to carry out an in-depth analysis of State aid granted by the Member States during the pandemic crisis and the major financial crisis in order to identify asymmetries in intervention and the resulting impacts on the free market;
2022/01/27
Committee: ECON
Amendment 133 #

2021/2185(INI)

Motion for a resolution
Paragraph 7 – point 1 (new)
(1) Calls on the Commission to review the State aid framework, which often puts European companies at a disadvantage compared to non-EU competitors that are facilitated by less stringent State aid rules;
2022/01/27
Committee: ECON
Amendment 159 #

2021/2184(INI)

Motion for a resolution
Paragraph 5 a (new)
5 a. Believes that banks must be put in the best regulatory position to be able to continue to support the economic recovery and particularly European SMEs in the sectors most affected by the restrictive measures triggered by the health emergency; to this end, believes that EBA must adopt temporary flexibility in its rules for the classification of defaults to allow targeted and effective moratoria for viable businesses;
2022/02/17
Committee: ECON
Amendment 222 #

2021/2184(INI)

Motion for a resolution
Paragraph 11
11. Is concerned about the rising level of sovereign debt on the balance sheets of banks in the BU; notes that government bondhadow banking and the exposure of Union banks; points out that the figures are not risk-free assets and that risks are differentiated; emphasises that the issue of regulatory treatment of sovereign exposures requires an in-depth examination of the consequences of different approachesported by the SSM analysis in its SREP 2021 exercise show a steady increase over time and that the related risks are not adequately supervised;
2022/02/17
Committee: ECON
Amendment 264 #

2021/2184(INI)

Motion for a resolution
Paragraph 14
14. Draws attention to the dangers of a very loose monetary policy stimulating inflation; points out the need for the gradual tightening ofgrowing economic imbalances in the euro area; stresses the need to find a political agreement on economic governance quickly in order to enable the ECB to take sustainable monetary policy decisions;
2022/02/17
Committee: ECON
Amendment 276 #

2021/2184(INI)

Motion for a resolution
Paragraph 15
15. Indicates that the trend towards consolidation in the banking sector is likely to increase as a result of the pandemic; recognises the challenges posed to banking supervision by large systemically important institutions, whose possible problems may affect financial stability in many jurisdictions; calls for a regulatory firewall between savings banks and investment banks, in order to improve the stability of the financial and banking system and to prevent financial and banking crises due to negative financial contagion effects between savings banks and investment banks, which have proven to be often at the very heart of financial and banking crises;
2022/02/17
Committee: ECON
Amendment 252 #

2021/2169(INI)

Motion for a resolution
Paragraph 15 a (new)
15a. Stresses that fisheries is the sector most affected by the many other uses of, and activities taking place on, the seas, such as maritime transport and tourism, urban and coastal development, the exploitation of raw materials and energy sources, and sea-floor mining, as well as being affected by environmental issues such as marine pollution and climate change;
2023/03/15
Committee: PECH
Amendment 253 #

2021/2169(INI)

Motion for a resolution
Paragraph 15 b (new)
15b. Takes the view that, in the light of the complexity of the fisheries industry, additional measures should be adopted to tackle climate change, while also incorporating action on global governance and recognising that some of these measures will call for a degree of institutional adaptation;
2023/03/15
Committee: PECH
Amendment 382 #

2021/2169(INI)

Motion for a resolution
Paragraph 34 a (new)
34a. EU strategies and fisheries (a) Stresses the need for greater integration of the CFP into Community strategies in order to avoid conflicting or non-synergistic measures; (b) Highlights and shares the fears of operators in the fisheries sector over the significant reductions in fishing areas imposed, not without inconsistencies, by the Nature Restoration and Biodiversity 2030 strategies; (c) Draws attention to the objectives of the Integrated Maritime Policy and the ensuing need to strike a better balance between the various economic activities relating to the blue economy, particularly as regards maritime spatial plans;
2023/03/15
Committee: PECH
Amendment 390 #

2021/2169(INI)

Motion for a resolution
Paragraph 35
35. Calls on the Commission to promote the CFP as a policy model for ocean governance and to defend the EU fishing and aquaculture sector’s interests in Regional Fisheries Management Organisations and S, partnership agreements and commercial agreements on sustainable Ffisheries Partnership Agreementsand aquaculture, and more generally in international forums;
2023/03/15
Committee: PECH
Amendment 427 #

2021/2169(INI)

Motion for a resolution
Paragraph 43 a (new)
43a. Firmly emphasises the need for scientific research to focus more on the interactions between environmental changes due to climate change and fisheries resources, so as to prevent the depletion of stocks being attributed solely to the fisheries sector;
2023/03/15
Committee: PECH
Amendment 109 #

2021/2097(INI)

Motion for a resolution
Paragraph 8 a (new)
8a. Calls for greater transparency and scrutiny of banking transactions and money flows in those Member States where the phenomenon of tax avoidance and evasion by multinationals is most apparent;
2021/11/25
Committee: ECON
Amendment 101 #

2021/2074(INI)

5. Notes that many Member States as well as the EU have introduced dedicated regimes favouring SMEs such as special VAT rules in order to offset the higher effective tax rates and higher tax compliance costs for SMEs; stresses that such special treatment, while is generally positive,; points out, however, that while, on the one hand, it could risk introducing further distortions and further increasing the overall complexity of the system, on the other, it is proving to be effective for very small SMEs whose business is mainly or exclusively conducted within a Member State;
2021/10/28
Committee: ECON
Amendment 161 #

2021/2074(INI)

Motion for a resolution
Paragraph 12
12. Looks forward to the Commission’s proposal for a debt equity bias reduction allowance5 in order to facilitate the equitisation of companies; _________________ 5Commission communication of 18 May 2021 on business taxation for the 21st century (COM(2021)0251).
2021/10/28
Committee: ECON
Amendment 73 #

2021/2063(INI)

Motion for a resolution
Paragraph 1 a (new)
1a. Believes that the ECB's new objectives need to be geared primarily to achieving full employment;
2021/10/13
Committee: ECON
Amendment 121 #

2021/2063(INI)

Motion for a resolution
Paragraph 7 a (new)
7a. Expresses concern at the imbalances in the currency area and believes the excessive current account surpluses in the balance of payments of some Member States should be addressed more resolutely;
2021/10/13
Committee: ECON
Amendment 146 #

2021/2063(INI)

Motion for a resolution
Paragraph 9 a (new)
9a. Notes the quick and substantial ECB monetary policy response to the COVID-19 crisis in an emergency context and takes the view that the ECB needs to strengthen its role of lender of last resort for the euro area;
2021/10/13
Committee: ECON
Amendment 202 #

2021/2063(INI)

Motion for a resolution
Paragraph 14
14. Recalls that, as an EU institution, the ECB is bound by the Paris Agreement and that this should be reflected in its policies, taking into account the potential adverse effects on prices, especially of raw materials, and on employment, which may be created if an unpragmatic approach is adopted to the digital and green transition;
2021/10/13
Committee: ECON
Amendment 217 #

2021/2063(INI)

Motion for a resolution
Paragraph 15
15. Agrees with the ECB that tackling the climate emergency touches not only upon its secondary but also upon its primary mandate, given that climate change and its consequences pose a threat to price stability, and calls on the ECB in this context to maintain a cautious approach aimed at introducing an economically-sustainable ecological transition not driven by excessive ideological zeal;
2021/10/13
Committee: ECON
Amendment 228 #

2021/2063(INI)

Motion for a resolution
Paragraph 16
16. WelcomNotes the ECB’s new action plan and its detailed roadmap of climate change-related actions to further incorporate climate change considerations into its policy framework;
2021/10/13
Committee: ECON
Amendment 229 #

2021/2063(INI)

Motion for a resolution
Paragraph 17
17. Believes that the market neutrality principle falls short of the commitments under the Paris Agreement and the EU’s objective of achieving climate neutrality by 2050 at the latest; notes that the ECB has already deviated from market neutrality in several instances;deleted
2021/10/13
Committee: ECON
Amendment 253 #

2021/2063(INI)

Motion for a resolution
Paragraph 18
18. Regrets the factNotes that green bond issuance in the EU represents only 2.6 % of the EU’s total bond issuance;
2021/10/13
Committee: ECON
Amendment 265 #

2021/2063(INI)

Motion for a resolution
Paragraph 19
19. Welcomes the factNotes that the ECB is taking steps to incorporate climate-related risks into its collateral framework but warns against delays in its implementation; is concerned about the fact that the ECB continues to rely exclusively on private external credit rating agencies (CRAs) for risk assessment;
2021/10/13
Committee: ECON
Amendment 322 #

2021/2063(INI)

Motion for a resolution
Paragraph 24 a (new)
24a. Stresses the need to carefully assess the systemic risks to the European banking system and for proper regulation of the non-banking financial sector, as it believes that financial risk is being underestimated, especially as regards exposure in the shadow banking system;
2021/10/13
Committee: ECON
Amendment 17 #

2021/2061(INI)

Motion for a resolution
Recital A
A. whereas the European Semester plays an essential role in coordinating economic and budgetary policies in the Member States;deleted
2021/07/15
Committee: ECON
Amendment 110 #

2021/2061(INI)

Motion for a resolution
Paragraph 5
5. Notes that the general escape clause of the Stability and Growth Pact will continue to be applied in 2022 and is expected to be deactivated as of 2023; notes, furthermore, that the decision to deactivate the general escape clause should be taken as an overall assessment of the state of the economy based on quantitative criteria, with the level of economic activity in the EU compared to pre-crisis levels as the key quantitative criterion; points out that country-specific situations will continue to be taken into account after the deactivation of the general escape clausebefore the deactivation of the general escape clause, the causes of the economic imbalances between Member States should be analysed in order to review the Stability and Growth Pact, better support growth and restore an adequate level of public investment;
2021/07/15
Committee: ECON
Amendment 131 #

2021/2061(INI)

Motion for a resolution
Paragraph 6
6. Is concernedNotes that according to the baseline scenario of the Commission’s latest Debt Sustainability Monitor, the debt ratio in the euro area is to peak at 104.6 % in 2024 and 2025, while the debt ratio in the Union is to peak at 96.5 % in 2024, before declining once again;
2021/07/15
Committee: ECON
Amendment 135 #

2021/2061(INI)

Motion for a resolution
Paragraph 7
7. Is convinced that coordination of national fiscal policies remains crucial inshould be overhauled to underpinning the recovery more effectively; notes that the overall fiscal stance, taking into account national budgets and the RRF, should remain supportive in 2021 and 2022;
2021/07/15
Committee: ECON
Amendment 147 #

2021/2061(INI)

Motion for a resolution
Paragraph 8
8. Highlights that fiscal policy should remain agile and adjust to the evolving situation as warranted, and that a premature withdrawal of fiscal support should be avoided; further highlights the expectation that economic activity will gradually normalise in the second half of 2021 and agrees that Member States’ fiscal policies should become more differentiated in 2022remain accommodative in 2022 and for as long as it takes to return to pre- crisis economic levels, duly taking into account the state of the recovery, fiscal sustainability and the need to reduce economic, social and territorial divergences;
2021/07/15
Committee: ECON
Amendment 168 #

2021/2061(INI)

Motion for a resolution
Paragraph 9
9. Notes that Member States with high debt should use the RRF to finance additional investment to support the recovery, while pursuing a prudent fiscal policy; stresses the importance of the Member States using the potential of the RFF to support the necessary structural changeinvestments and the transformation to more globally competitive, future-proof, agile industries; agrees that the growth of nationally financed current expenditure should be kept under control and be limited forprimarily oriented towards GDP growth through productive investment, fiscal and bureaucratic simplification, to allow Member States with high debt, allowing fiscal measures to maximise support to the recovery without pre- empting future fiscal trajectories and creating a permanent burden on public finances;
2021/07/15
Committee: ECON
Amendment 171 #

2021/2061(INI)

Motion for a resolution
Paragraph 10
10. Urges the Commission to reassess the budgetary situation of the Member States on the basis of the autumn 2021 economic forecast, before the Council concludes its deliberations on the ongoing Semester process;deleted
2021/07/15
Committee: ECON
Amendment 246 #

2021/2061(INI)

Motion for a resolution
Paragraph 17 a (new)
17a. Is concerned that the excessive imbalance relating to the current account surplus in the balance of payments has never been properly managed by the European Commission in its assessments of macroeconomic imbalances;
2021/07/15
Committee: ECON
Amendment 249 #

2021/2061(INI)

Motion for a resolution
Paragraph 17 b (new)
17b. Is further concerned about the rise in the level of private debt, which already exceeded 200% of GDP in several countries in the euro area in 2019; therefore calls for private debt to be regarded as an indicator alongside public debt when assessing a Member State’s overall debt position;
2021/07/15
Committee: ECON
Amendment 251 #

2021/2061(INI)

Motion for a resolution
Paragraph 18
18. Wishes that the Commission had presented targeted and tailor made CSRs for 2021, instead of identical CSRs for all Member States, which could have focused on areas not covered by the scope of the RRF;deleted
2021/07/15
Committee: ECON
Amendment 256 #

2021/2061(INI)

Motion for a resolution
Paragraph 19
19. Recalls that Member States, in their recovery and resilience plans, are required to effectively address all or a significant subset of challenges identified in the relevant CSRs, including the fiscal aspects thereof, and that beyond the scope of the RRF, those recommendations that are not addressed remain valid and will continue to be monitored under the European Semester framework;deleted
2021/07/15
Committee: ECON
Amendment 278 #

2021/2061(INI)

Motion for a resolution
Paragraph 20
20. Regrets the fact that the Commission has not promoted fiscal CSRs that promote medium-term fiscal sustainability, despite the fact that the activation of the general escape clause obliges Member States not to endanger fiscal sustainability in the medium term;deleted
2021/07/15
Committee: ECON
Amendment 29 #

2021/2056(INI)

Motion for a resolution
Citation 5 a (new)
— having regard to the Ministerial Declaration on an action plan for small- scale fisheries in the Mediterranean and the Black Sea signed in Malta on 26 September 2018 by 18 countries and the European Union, which sets the target of ensuring long-term environmental, economic and social sustainability for small-scale fisheries within the next decade (2018-2028) through concrete and coherent measures to address challenges and reinforce opportunities,
2021/12/21
Committee: PECH
Amendment 52 #

2021/2056(INI)

Aa. whereas in recent years the European fleet has continued to shrink, as have its profits which, in 2020, recorded a fall of 17% in the value of the fish landed, of 19% in employment and of 29% in profits compared with 2019; 1a _________________ 1a COM(2021) 279 final, Communication from the Commission to the European Parliament and the Council, Towards more sustainable fishing in the EU: state of play and orientations for 2022 (pp. 4-5)
2021/12/21
Committee: PECH
Amendment 78 #

2021/2056(INI)

Motion for a resolution
Recital E
E. whereas, therefore, the centrregionalisation of fisheries management advocated by the common fisheries policy (CFP) and the resulting loss of Member State sovereignty has hindered the necessaryis necessary for the local management that is essential for ensuring the sector’s socio- economic viability;
2021/12/21
Committee: PECH
Amendment 87 #

2021/2056(INI)

Motion for a resolution
Recital F
F. whereas the fisheries sector and small-scale fishing make an important contribution towards socio-economic well- being, employment and the promotion of economic and social cohesion in various coastal and ultraperipheral regions andof the Member States;
2021/12/21
Committee: PECH
Amendment 94 #

2021/2056(INI)

Motion for a resolution
Recital F a (new)
Fa. whereas fishers have a role as ‘guardians of the sea’ and fishing makes a contribution to the supply of foods and proteins for a healthy, balanced diet;
2021/12/21
Committee: PECH
Amendment 97 #

2021/2056(INI)

Motion for a resolution
Recital F b (new)
Fb. whereas fishers who carry out artisanal fishing are strongly rooted in the regions and coastal communities and make an important contribution to the cultural heritage of local communities;
2021/12/21
Committee: PECH
Amendment 99 #

2021/2056(INI)

Motion for a resolution
Recital F c (new)
Fc. whereas it is necessary to improve the participative approach for involving artisanal fishers in decision-making processes;
2021/12/21
Committee: PECH
Amendment 107 #

2021/2056(INI)

Motion for a resolution
Recital I
I. whereas small-scale, artisanal and coastal fisheries are potentially less damaging to fish stocks and more sustainable, both in terms of the biological management of resources and selectivity, and also from a socio-economic point of view, and therefore warrant particular attention and support;
2021/12/21
Committee: PECH
Amendment 111 #

2021/2056(INI)

Motion for a resolution
Recital I a (new)
Ia. whereas the factors exerting pressure on fish stocks that also cause direct and indirect damage to fisheries include pollution, habitat loss, maritime traffic, competition for space and climate change, starting with its effects, including the rise in water temperatures, acidification, changes to ocean currents, asynchronous species and the arrival of non-indigenous species;
2021/12/21
Committee: PECH
Amendment 112 #

2021/2056(INI)

Motion for a resolution
Recital I b (new)
Ib. whereas it is necessary to increase capacities to adapt to and mitigate the effects of climate change and crises by adopting measures to strengthen the resilience of coastal communities;
2021/12/21
Committee: PECH
Amendment 124 #

2021/2056(INI)

Motion for a resolution
Recital L a (new)
La. whereas, in order to gain a foothold in new market segments, artisanal fishers need financial aid and support;
2021/12/21
Committee: PECH
Amendment 132 #

2021/2056(INI)

Motion for a resolution
Recital M
M. whereas earnings are very unequally distributed between industrial fisheries on the one hthe various sectors within fisheries, and, which tend to take a more destructive approach to resources, and small-scale, artisanal and coastal fisheries on the otherereas small-scale, artisanal and coastal fisheries make use of tools that are more selective towards resources;
2021/12/21
Committee: PECH
Amendment 155 #

2021/2056(INI)

Motion for a resolution
Recital P
P. whereas greater investment is needed in up-to-date research into and understanding of the state of resources;
2021/12/21
Committee: PECH
Amendment 161 #

2021/2056(INI)

Motion for a resolution
Recital P a (new)
Pa. whereas artisanal fishers have a need for training and the development of new skills;
2021/12/21
Committee: PECH
Amendment 163 #

2021/2056(INI)

Motion for a resolution
Recital P b (new)
Pb. whereas work by women constitutes added value in the artisanal fisheries sector;
2021/12/21
Committee: PECH
Amendment 165 #

2021/2056(INI)

Motion for a resolution
Recital P c (new)
Pc. whereas it is difficult for small- scale artisanal fishing businesses, which are often under-capitalised and lacking in assets, to access the credit and finance system;
2021/12/21
Committee: PECH
Amendment 183 #

2021/2056(INI)

Motion for a resolution
Paragraph 1
1. Takes the view that the future of small-scale, coastal and artisanal fishing depends on immediate, meaningful and effective measures to increase fishing incomes, empower the fleet, to enhance the profession’s attractiveness and, provide training for young people and safeguards to women employed in the sector and to improve operating conditions; calls on the Commission, therefore, working in close cooperation with the Member States, to establish and implement support mechanisms for small-scale, artisanal and coastal fisheries that make it possible to tackle the specific problems in this part of the sector;
2021/12/21
Committee: PECH
Amendment 199 #

2021/2056(INI)

Motion for a resolution
Paragraph 2
2. Affirms the need to strengthen the sector’s value chain and promote marketing strategies, fostering mechanisms that improve the first-sale price, so as to benefit fishersthat fishermen get the maximum benefit;
2021/12/21
Committee: PECH
Amendment 200 #

2021/2056(INI)

Motion for a resolution
Paragraph 2 a (new)
2a. Calls for edible alien species to be commercially exploited, with the triple aim of increasing the sector’s profitability, making use of proteins available in the environment and reducing pressure on traditionally fished stocks;
2021/12/21
Committee: PECH
Amendment 213 #

2021/2056(INI)

Motion for a resolution
Paragraph 4
4. Takes the view that measures are needed to defend or create markets of origin, thereby advocating short sales channels for traditional products and promoting and defending the particular quality of fish from small-scale fishing, as well as fostering direct sales;
2021/12/21
Committee: PECH
Amendment 224 #

2021/2056(INI)

Motion for a resolution
Paragraph 6
6. Warns of the difficulties that the fisheries sector is still experiencing, which have now been aggravated by rising fuel pricesthe recent health crisis and rising fuel prices, and calls for the production of a plan of exceptional measures to be implemented in the event of future emergencies or disturbances in the market;
2021/12/21
Committee: PECH
Amendment 248 #

2021/2056(INI)

Motion for a resolution
Paragraph 7
7. Takes the view that the European Maritime, Fisheries and Aquaculture Fund (EMFAF) should make it possible to provide specific support for small-scale fishing in the form of fuel subsidies and tax exemptions;
2021/12/21
Committee: PECH
Amendment 249 #

2021/2056(INI)

Motion for a resolution
Paragraph 7
7. Takes the view that the European Maritime, Fisheries and Aquaculture Fund (EMFAF) should make it possible to provide specific support for small-scale fishing, in the form ofcluding fuel subsidies;
2021/12/21
Committee: PECH
Amendment 266 #

2021/2056(INI)

Motion for a resolution
Paragraph 9
9. Takes the view that the EMFAF should lend support to small-scale fishing as a priority, with a view to ensuring the sustainability and future viability of the countless coastal communities that are traditionally dependent on fishing and based on family-run firms;
2021/12/21
Committee: PECH
Amendment 299 #

2021/2056(INI)

Motion for a resolution
Paragraph 14
14. Takes the view that ignoring the need for fleet renewal, particularly of obsolete and inefficient vessels, would jeopardise the future of small-scale fishing and would make no contribution to reducing pollution and CO2 emissions in the sea;
2021/12/21
Committee: PECH
Amendment 301 #

2021/2056(INI)

Motion for a resolution
Paragraph 14
14. Takes the view that ignoring the need for fleet renewal, particularly of obsolete and inefficient vessels, would jeopardise the future of small-scale fishing and the safety of fishermen;
2021/12/21
Committee: PECH
Amendment 305 #

2021/2056(INI)

Motion for a resolution
Paragraph 15
15. Considers, therefore, that EMFAF must provide funding opportunities for the renewal, upgrading or even resizing of the small-scale coastal and artisanal fleet, paying particular attention to the renewals required to increase safety on board vessels;
2021/12/21
Committee: PECH
Amendment 321 #

2021/2056(INI)

Motion for a resolution
Paragraph 18
18. Stresses the importance of the fisheries sector in the socio-economic situation, employment and promotion of economic and social cohesion in the outermost regions (ORs), areas that are characterised by economies with permanent structural constraints and few opportunities for economic diversification and new markets;
2021/12/21
Committee: PECH
Amendment 326 #

2021/2056(INI)

Motion for a resolution
Paragraph 19
19. Believes it essential, therefore, to maintain and step up EU support for the fisheries sector in thoseultra-peripheral regions;
2021/12/21
Committee: PECH
Amendment 333 #

2021/2056(INI)

Motion for a resolution
Paragraph 20
20. Considers that the future of small- scale fishing requires that states and public policymakers take a more active role, contrary to the logic that the market and ever-greater concentrationthrough active involvement and listening to the needs of operators in the sector must prevail;
2021/12/21
Committee: PECH
Amendment 334 #

2021/2056(INI)

Motion for a resolution
Paragraph 20 a (new)
20a. Takes the view that it is appropriate to raise the level of training of small-scale artisanal fishing operators and to incentivise new skills to address the challenges of the future, to help contribute to making the sector more competitive and attractive for new generations;
2021/12/21
Committee: PECH
Amendment 341 #

2021/2056(INI)

Motion for a resolution
Paragraph 21 a (new)
21a. Calls on the Commission and Member States to safeguard the competitiveness of the fisheries sector as a whole and the corresponding production sector, encouraging the exploitation and promotion of European and local products and preventing a rise in dependency on imports;
2021/12/21
Committee: PECH
Amendment 348 #

2021/2056(INI)

Motion for a resolution
Paragraph 22
22. Reiterates that the reality of fisheries in the EU is complex and varies widely from Member State to Member State, and reaffirms that this great diversity requires management at local level; recalls that the Brexit has an impact on small- scale fisheries in some EU regions;
2021/12/21
Committee: PECH
Amendment 350 #

2021/2056(INI)

Motion for a resolution
Paragraph 22 a (new)
22a. Calls for a serious effort to be made to ensure fisheries operators are closely and actively involved in the decision-making process through an approach based on regionalisation, in order to ensure adequate protection of biodiversity and proper management of activities performed in the area;
2021/12/21
Committee: PECH
Amendment 359 #

2021/2056(INI)

Motion for a resolution
Paragraph 23 a (new)
23a. Strongly emphasises the importance of putting in place financial support to increase the capacity of small- scale fishing for mitigation and adaptation to adverse events, including through new safety tools and preferential access to credit;
2021/12/21
Committee: PECH
Amendment 368 #

2021/2056(INI)

Motion for a resolution
Paragraph 24 a (new)
24a. Calls on all Member States to enhance the role of work by women in fishing through specific projects and by giving full legal recognition to the role of women as ‘assistants’ and co-workers in family fishing firms, with the aim of ensuring greater labour guarantees, income for the future and social security benefits;
2021/12/21
Committee: PECH
Amendment 379 #

2021/2056(INI)

Motion for a resolution
Paragraph 26
26. Takes the view, however, that the necessary setting of environmental objectives must go hand in hand with defining social and economic objectives, which are crucial for any fisheries policy; calls on the Commission, therefore, to link any legislative initiative designed to restrict fishing activities to impact analyses supported by constantly updated scientific data that is shared with fishers’ associations to assess the socio-economic consequences;
2021/12/21
Committee: PECH
Amendment 2 #

2021/2012(INI)

Draft opinion
Citation 3
— having regard to the Commission recommendations of May 2020 for positive interactions between offshore wind farms and fisheries,deleted
2021/04/26
Committee: PECH
Amendment 18 #

2021/2012(INI)

Draft opinion
Paragraph 2
2. Recalls that offshore renewable energy has an impact on fisheries and aquaculture; calls for the establishment of dialogue and cooperation with fishers and industry representatives at an early stage; emphasises the need to take into account local ecosystems and specificities, with an integrated management approach via marine spatial planning, taking into account the three pillars of sustainability of the Common Fisheries Policy (CFP); welcomes the Commission’s further analysis on the interactions between offshore renewable energy and other sea activities;
2021/04/26
Committee: PECH
Amendment 45 #

2021/2012(INI)

Draft opinion
Paragraph 4
4. Underlines that offshore renewable energy could be deployed preferentially in marine protected areas if in line with conservation objectives, in order to reduce impact on fisheries;
2021/04/26
Committee: PECH
Amendment 55 #

2021/2012(INI)

Draft opinion
Paragraph 6 a (new)
6a. Stresses that, especially on the islands, there are bans on the construction of wind turbines due to landscape constraints; calls, therefore, for due attention to be paid to mini wind turbines, with the dual aim of reducing their impact on the landscape and avoiding energy monopolies, through a diffuse energy production approach;
2021/04/26
Committee: PECH
Amendment 62 #

2021/2012(INI)

Draft opinion
Paragraph 7 a (new)
7a. Calls on the Commission to carry out the necessary impact assessments and keep Parliament constantly informed.
2021/04/26
Committee: PECH
Amendment 52 #

2021/2010(INI)

Motion for a resolution
Paragraph 1
1. Notes that the current rules date back to the early 20th century, and are mainly based on physical presence; points out that in current globalised economy, multinationals and particularly digitalised companies can engage in significant business activities in a jurisdiction without physical presence there, and therefore taxes paid in one jurisdiction no longer reflect the value and profits created there; regrets that the traditional concept of permanent establishment fails to cover the new aspects of global and digital businesses, and underlines the need to define virtual permanent establishment; stresses that users of online platforms and consumers of global and digital services cannot be shifted outside a jurisdiction in the same way as capital and labour, and should therefore be the basis for the definition of a new tax nexus in order to provide an effective remedy against aggressive planning;
2021/03/01
Committee: ECON
Amendment 75 #

2021/2010(INI)

Motion for a resolution
Paragraph 3
3. Highlights the need to address the under-taxation of the digital and global economy, while ensuring a fair distribution of taxing rights among all countries where the value creation of multinational and particularly digital companies takes place;
2021/03/01
Committee: ECON
Amendment 88 #

2021/2010(INI)

Motion for a resolution
Paragraph 4
4. Notes that on average global and digital business models face significantly lower effective tax rates than traditional business models which rely on physical presence; regrets that tax avoidance and fraud linked to aggressive tax planning is not only detrimental to the collection of public revenues but also puts businesses, especially SMEs, at a disadvantage, while creating barriers for new local entrants;
2021/03/01
Committee: ECON
Amendment 105 #

2021/2010(INI)

Motion for a resolution
Paragraph 6
6. Welcomes the fact that the two pillar approach suggested in the G20/OECD IF does not ring fence the digital economy but seeks a comprehensive solution to the new challenges of the global and digital economy; acknowledges that both pillars are complementary, and supports a holistic solution in which one pillar is not adopted without the other;
2021/03/01
Committee: ECON
Amendment 126 #

2021/2010(INI)

Motion for a resolution
Paragraph 8
8. Calls on the Commission and the Council to intensify the dialogue with the new US administration on global and digital tax policy with the aim of finding a common approach in the framework of the G20/OECD IF negotiations before June 2021; calls on the Council to oppose the ‘safe harbour’ clause, proposed by the US administration, which risks undermining the reform efforts;
2021/03/01
Committee: ECON
Amendment 146 #

2021/2010(INI)

Motion for a resolution
Paragraph 10
10. Regrets that the failure of the G20/OECD IF to find a solution in October 2020 will prolong the under-taxation of the digital economy; stresses that the COVID 19 pandemic has largely benefited digital businesses and accelerated the transition to global and a digital economy, thereby re- emphasising the need to reform the current tax system in order to ensure a fair contribution from the global and digital economy;
2021/03/01
Committee: ECON
Amendment 159 #

2021/2010(INI)

Motion for a resolution
Paragraph 11
11. Insists therefore that, regardless of the progress of the negotiations at the G20/OECD IF, the EU should stand ready to roll out its own solutions for taxing the global and digital economy by the end of 2021; calls on the Commission to present proposals by June 2021, while anticipating their compatibility with the reform by the G20/OECD IF to be agreed on; stresses the need to create a level playing field for providers of traditional services and digital services in the EU by ensuring that the latter are taxed at an adequate and fair rate; invites the Commission to consider in particular introducing a European Global and Digital Services Tax as a necessary first step;
2021/03/01
Committee: ECON
Amendment 180 #

2021/2010(INI)

12. Understands that some Member States consider the taxation of digital economy an urgent issue and have therefore introduced digital services taxes at national level; recalls that these national measures should be phased out once a multilateral solution is found; calls on Member States to refrain from introducing national tax regimes for MNEs or tax solutions unilaterally, as they create a risk of fiscal dumping or fragmentation of the single market; recalls that although taxation is primarily a Member State competence, they must exercise it in coherence with the common principles of EU law in order to ensure coherence between national frameworks, thereby allowing for fair competition and avoiding a negative impact on the overall coherence of EU taxation principles;
2021/03/01
Committee: ECON
Amendment 11 #

2021/2003(INI)

Draft opinion
Paragraph 2
2. Highlights that funding needs to be accessible for local and small civil society organisations that work most closely with girls and women in all their diversity; emphasises the key role of the neighbourhood, development and international cooperation instrument and stresses that administrative and implementation barriers should be avoided, since they might hamper the involvement of the most relevant actors; recalls the urgent need for significant funding for sexual and reproductive health and rights; stresses the need for closer monitoring of beneficiaries; points out that the EU needs to closely monitor the use of these funds; points out that the European Parliament must be kept informed of how funds are used;
2021/05/19
Committee: BUDG
Amendment 17 #

2021/2003(INI)

Draft opinion
Paragraph 3
3. WelcomesTakes note of the increased level of support for gender-responsive budgeting, the creation of specific gender indicators and the collection of gender-disaggregated data; expects the Commission to consult Parliament on the monitoring system;
2021/05/19
Committee: BUDG
Amendment 365 #

2021/0342(COD)

Proposal for a regulation
Recital 46
(46) However, the actual CVA risk of the exempted transactions may be a source of significant risk for banks applying those exemptions; if those risks materialise, the banks concerned could suffer significant losses. As EBA highlighted in their report on CVA from February 2015, the CVA risks of the exempted transactions raise prudential concerns that are not being addressed under CRR. To help supervisors monitor the CVA risk arising from the exempted transactions, institutions should report the calculation of capital requirements for CVA risks of the exempted transactions that would be required if those transactions were not exempted. In addition, EBA should develop guidelines to help supervisors identify excessive CVA risk and to improve the harmonisation of supervisory actions in this area across the EU.deleted
2022/08/11
Committee: ECON
Amendment 373 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b
Regulation (EU) No 575/2013
Article 4 – paragraph 1 – point 18 – point b
(b) operational leasing, factoring, the management of unit trusts, the ownership or management of property, the provision of data processing services or any other activity that is ancillary to banking, these activities are concerned if the activity is mainly provided to the parent undertaking;
2022/08/11
Committee: ECON
Amendment 378 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b
Regulation (EU) No 575/2013
Article 4 – paragraph 1 – point 18 – point c
(c) any other activity considered similar by EBA to those mentioned in points (a) and (b);;deleted
2022/08/11
Committee: ECON
Amendment 439 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 1 a (new)
Regulation (EU) No 575/2013
Article 4 – paragaraph 1 – point 146 – introductory part
"(146) ‘large institution’ means an institution that is not a social economy entity and meets any of the following conditions: Or. en (02013R0575-20220410)
2022/08/11
Committee: ECON
Amendment 444 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point x b (new)
Regulation (EU) No 575/2013
Article 4 – paragraph 1 – point 146a (new)
(146a) ‘Social economy entity’ means an entity that meets all of the following conditions: (a) the entity is not a G-SII (b) the entity and its subsidiaries are affiliated undertakings are linked according to Art. 22(7) of Directive 2013/34/EU and applicable national laws address subsidiaries to allocate profits mainly to common interests of members (c) subsidiaries or affiliated undertakings are small and non-complex entities according to point 145 of this article or less significant institutions according to Art.6(4) of Regulation (EU) 1024/2013;d) Affiliated undertakings are bound by national laws for a governance model informed by democratic principles " Or. en (02013R0575-20220410)
2022/08/11
Committee: ECON
Amendment 490 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 11 a (new)
Regulation (EU) No 575/2013
Article 47a – paragraph 7 a (new)
(11 a) in Article 47a the following paragraph is added: 7a. For the purposes of point (m) of Article 36(1), when an eligible protection provider compensates credit losses according to the original scheduled payment dates of the guaranteed exposure, and that payment is effective, the eligible protection provider shall be deemed replaced the guaranteed party as debtor Or. en (02013R0575-20220410)
2022/08/11
Committee: ECON
Amendment 497 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 11 b (new)
Regulation (EU) No 575/2013
Article 47c – paragraph 6 – subparagraphs 2 a (new) and 2 b (new)
(11 b) in Article 47c(6), the following subparagraphs are added: By way of derogation from paragraph 2 , when a non-performing exposure is purchased by a financial institution (i) from another financial institution which has originated the credit, (ii) at a price which is at least 50% lower than the total amount owed by the debtor, (iii) before the third year following its classification as non-performing, then the factors foreseen by paragraph 2 shall re-apply from the beginning, as if the exposure would have been just classified as non-performing. By way of derogation from paragraph 3, when a non-performing exposure is purchased by a financial institution, (i) from another financial institution, (ii) at a price which is at least 50% lower than the total amount owed by the debtor, (iii) before the seventh year following its classification of non performing, for non- performing exposures secured by other funded or unfunded credit protection, or before the nineth year following its classification as non performing, for non- performing exposure secured by immovable property, then the factors foreseen by paragraph 3 shall re-apply from the beginning, as if the exposure would have been just classified as non-performing. Or. en (02013R0575-20220410)
2022/08/11
Committee: ECON
Amendment 506 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 13
Regulation (EU) No 575/2013
Article 49 – paragraph 4
4. The holdings in respect of which deduction is not made in accordance with paragraph 1 shall qualify as exposures and shall be risk weighted in accordance with Part Three, Title II, Chapter 2. The holdings in respect of which deduction is not made in accordance with paragraphs 1, 2 or 3 shall qualify as exposures and shall be risk weighted at 100 %.
2022/08/11
Committee: ECON
Amendment 520 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 19
Regulation (EU) No 575/2013
Article 84 – paragraph 1 – point a – introductory part
(a) the Common Equity Tier 1 capital of the subsidiary minus the lower of the following:;
2022/08/11
Committee: ECON
Amendment 523 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 19
Regulation (EU) No 575/2013
Article 84 – paragraph 1 – point a – point i
(i) the amount of Common Equity Tier 1 capital of that subsidiary required to meet the following: — institution, the sum of the requirement laid down in Article 92(1), point (a), tdeleted whe requirements referred to in Articles 458 and 459 , the specific own funds requirements referred to in Article 104 of Directive 2013/36/EU, the combined buffer requirement defined in Article 128, point (6), of that Directive, or any local supervisory regulations in third countries insofar as those requirements are to be met by Common Equity Tier 1 capital, as applicable; — investment firm, the sum of the requirement laid down in Article 11 of Regulation (EU) 2019/2033, the specific own funds requirements referred to in Article 39(2), point (a), of Directive (EU) 2019/2034, or any local supervisory regulations in third countries, insofar as those requirements are to be met by Common Equity Tier 1 capital, as applicable; the subsidiary is an where the subsidiary is an
2022/08/11
Committee: ECON
Amendment 544 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 19
Regulation (EU) No 575/2013
Article 84 – paragraph 1 – point a – point ii
(ii) the amount of consolidated Common Equity Tier 1 capital that relates to that subsidiary that is required on a consolidated basis to meet the sum of the requirement laid down in Article 92(1), point (a), the requirements referred to in Articles 458 and 459, the specific own funds requirements referred to in Article 104 of Directive 2013/36/EU and the combined buffer requirement defined in Article 128, point (6), of that Directive; and the Common Equity Tier 1capital of the subsidiary required at local level to avoid restrictions on dividend payments. In case of third countries it shall be measured based on local own funds requirements;
2022/08/11
Committee: ECON
Amendment 551 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 20
Regulation (EU) No 575/2013
Article 85 – paragraph 1 – point a – introductory part
(a) the Tier 1 capital of the subsidiary minus the lower of the following:
2022/08/11
Committee: ECON
Amendment 553 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 20
Regulation EU No 575/2013
Article 85 – paragraph 1 – point a – point i
(i) the amount of Tier 1 capital of the subsidiary required to meet the following: — institution, the sum of the requirement laid down in Article 92(1), point (b), tdeleted whe requirements referred to in Articles 458 and 459, the specific own funds requirements referred to in Article 104 of Directive 2013/36/EU, the combined buffer requirement defined in Article 128, point (6), of that Directive, or any local supervisory regulations in third countries insofar as those requirements are to be met by Tier 1 Capital, as applicable; — investment firm, the sum of the requirement laid down in Article 11 of Regulation (EU) 2019/2033, the specific own funds requirements referred to in Article 39(2), point (a), of Directive (EU) 2019/2034, or any local supervisory regulations in third countries insofar as those requirements are to be met by Tier 1 capital, as applicable; the subsidiary is an where the subsidiary is an
2022/08/11
Committee: ECON
Amendment 573 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 20
Regulation (EU) No 575/2013
Article 85 – paragraph 1 – point a – point ii
(ii) the amount of consolidated Tier 1 capital that relates to the subsidiary that is required on a consolidated basis to meet the sum of the requirement laid down in Article 92(1), point (b), the requirements referred to in Articles 458 and 459, the specific own funds requirements referred to in Article 104 of Directive 2013/36/EU and the combined buffer requirement defined in Article 128, point (6), of that Directive; and the Common Equity Tier 1 capital of the subsidiary required at local level to avoid restrictions on dividend payments. In case of third countries it shall be measured based on local own funds requirements;
2022/08/11
Committee: ECON
Amendment 583 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 20 a (new)
(20 a) in article 87(1), point (a) is replaced by the following: "(a) the own funds of the subsidiary minus the lower of the following: (i) the amount of own funds that relates tof the subsidiary that is required to meet the following: —on a consolidated basis to meet the sum of the requirement laid down in point (c) of Article 92(1) of this Regulation, the requirements referred to in Articles 458 and 459 of this Regulation, the specific own funds requirements referred to in Article 104 of Directive 2013/36/EU, the combined buffer requirement defined in point (6) of Article 128 of that Directive, and any additional local supervisory regulations in third countries, — where the subsidiary is an investment firm, the sum of the requirement laid down in Article 11 of Regulation (EU) 2019/2033, the specific own funds requirements referred to in point (a) of Article 39(2) of Directive (EU) 2019/2034, and any additional local supervisory regulations in third countries; (ii) the amount of own funds that relates toown funds requirement in third countries and the Common Equity Tier 1 capital of the subsidiary that is required on a consolidated basis to meet the sum of the requirement laid down in point (c) of Article 92(1) of this Regulation, the requirements referred to in Articles 458 and 459 of this Regulation, the specific own funds requirements referred to in Article 104 of Directive 2013/36/EU, the combined buffer requirement defined in point (6) of Article 128 of that Directive, and any additional local supervisory own funds requirement in third countries; at local level to avoid restrictions on dividend payments; in case of third countries it shall be measured based on local own funds requirements; " Or. en (02013R0575-20220410)
2022/08/11
Committee: ECON
Amendment 602 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 23 – point a
Regulation (EU) No 575/2013
Article 92 – paragraph 3 – point a – subparagraph 5a (new)
By way of derogation from the first subparagraph, institutions which deduct an IRB shortfall amount from their Common Equity Tier 1 in accordance with Article 36(1), point (d) shall apply the following formula: TREA= max {U-TREA; (x*S-TREA)– (SF*12,5)} where SF = the absolute value of the IRB shortfall deducted in accordance with Article 36(1), point (d)
2022/08/11
Committee: ECON
Amendment 653 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 30 – point e
(b) where the derivative position is subject to any of the requirements set out in Article 325c(2), points (b) or (c), or in Article 325e(1), point (c), the institution perfectly offsets the market risk of that derivative position by entering into opposite positions with third parties;
2022/08/11
Committee: ECON
Amendment 666 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 34
Regulation (EU) No 575/2013
Article 111 paragraph 4
4. For contractual arrangements offered by an institution, but not yet accepted by the client, that would become commitments if accepted by the client, and contractual arrangements that would qualify as commitments but meet the conditions for not being treated as commitments, the percentage applicable to that type of contractual arrangement shall be that provided for in accordance with paragraph 2.deleted
2022/08/11
Committee: ECON
Amendment 689 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 40 – point b a (new)
Regulation (EU) No 575/2013
Article 122 – paragraph 2 a (new)
(ba) the following paragraph is added: 2a. By way of derogation from paragraph 2, exposures under the standardised approach due to not-real estate leases granted by an institution to corporate borrowers against the payment of periodic contractual paymentsshall be assigned a risk weight of 70%, provided that all the following conditions are met: a) the lessor performs a complete credit risk assessment process comprising lessees, subject of leases and their relative suppliers; b) the lessor retains the legal ownership of the leased asset throughout the life of the contract; c) the lessor has the right to carry out on- site inspections/access; d) the leased assets are instrumental to the exercise of the borrower’s economic activities;
2022/08/11
Committee: ECON
Amendment 710 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point b
(b) where the purpose of a specialised lending exposure is to provide for short- term financing of reserves, inventories or receivables of exchange-liquidity traded commodities, including crude oil, metals, or cropsoft comodities, and the income to be generated by those reserves, inventories or receivables is to be the proceeds from the sale of the commodity (‘commodities finance exposures’), institutions shall apply a risk weight of 100 %;
2022/08/11
Committee: ECON
Amendment 718 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point c – point i
(i) 1310 % where the project to which the exposure is related is in the pre- operational phase;
2022/08/11
Committee: ECON
Amendment 727 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point c – point ii – indent 2
— the obligor has sufficient reserve funds fully funded in cash, or other financial arrangements, with highly rated guarantorsguarantors with an ECAI rating with a credit quality step of at least 3, or, if not externally rated, are assigned with a rating equivalent to a step 3 or higher with the bank validated internal rating model to cover the contingency funding and working capital requirements over the lifetime of the project being financed;
2022/08/11
Committee: ECON
Amendment 736 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point c –point ii –indent 4 – introductory part
where the revenues of the obligor are not funded by payments from a large number of users, the source of repayment of the obligation depends on one main counterparty and that main counterparty is one of the following:
2022/08/11
Committee: ECON
Amendment 739 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 –point c –point ii –indent 4 –indent 2
— a public sector entity, provided that that entity is assigned a risk weight of 20 % or below in accordance with Article 116, or is assigned an ECAI rating with a credit quality step of at least 3, or, if not externally rated, are assigned with a rating equivalent to a step 3 or higher with the bank validated internal rating model;
2022/08/11
Committee: ECON
Amendment 745 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point c –point ii –indent 4 – indent 3
— a corporate entity which has been assigned an ECAI rating with a credit quality step of at least 3, or, if not externally rated, are assigned with a rating equivalent toa step 3 or higher with the bank validated internal rating model.
2022/08/11
Committee: ECON
Amendment 747 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point c –point ii –indent 4 –indent 3 a (new)
- an entity that is replaceable without a significant change in the level and timing of revenues;
2022/08/11
Committee: ECON
Amendment 752 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 41
— equity is pledged or assigned to the lending institution such that they are able to take control of the obligor entity upon default;
2022/08/11
Committee: ECON
Amendment 770 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 42
EBA shall issue guidelines, in accordance with Article 16 of Regulation (EU) No 1093/2010, to specify proportionate diversification methods under which an exposure is to be considered as one of a significant number of similar exposures as specified in point (b), by [OP please insert the date = 1 year after entry into force of this Regulation].deleted
2022/08/11
Committee: ECON
Amendment 774 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 43 a (new)
Regulation (EU) No 575/2013
Article 123 – subpargaraph 5 – introductory part
"Exposures due to loans granted by a credit institution to pensioners or employees with a permanent contract against the unconditional transfer of part of the borrower's pension or salary to that credit institution shall be assigned a risk weight of 350 %, provided that all the following conditions are met: "
2022/08/11
Committee: ECON
Amendment 777 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 42
Regulation (EU) No 575/2013
Article 123 paragraph 4 a (new)
4 a. By way of derogation from paragraph 3, exposures under the standardised approach due to not-real estate leases granted by an institution to retail borrowers against the payment of periodic contractual payments shall be assigned a risk weight of 55%, provided that all the following conditions are met: a) the lessor performs a complete credit risk assessment process comprising lessees, subject of leases and their relative suppliers; b) the lessor retains the legal ownership of the leased asset throughout the life of the contract; c) the lessor has the right to carry out on- site inspections/access; d) the leased assets are instrumental to the exercise of the borrower’s economic activities.
2022/08/11
Committee: ECON
Amendment 790 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 44
(i) the immovable property securing the exposure is the obligor’s primary residenceexposure is to an individual and secured by a residential property, either where the immovable property as a whole constitutes a single housing unit or where the immovable property securing the exposure is a housing unit that is a separated part within an immovable property;
2022/08/11
Committee: ECON
Amendment 801 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 44
Regulation (EU) No 575/2013
Article 124 – paragraph 2 – point c – point ii a (new)
(ii a) exposures related to property leasing transactions concerning offices or other commercial premises under which the institution is the lessor and the lessee has an option to purchase shall be assigned a risk weight of 50%provided that the exposure of the institution is fully and completely secured by its ownership of the property and the commercial immovable property is instrumental to the lessee’s economic activities.
2022/08/11
Committee: ECON
Amendment 829 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 47
Regulation (EU) No 575/2013
Article 126a – paragraph 2 – introductroy part
2. ADC exposures to residential or commercial property, however, may be risk weighted at 100 %, provided that, where applicable, the institution applies sound origination and monitoring standards which meet the requirements of Articles 74 and 79 of Directive 2013/36/EU and where at least one of the following conditions is met:
2022/08/11
Committee: ECON
Amendment 844 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 49
Regulation (EU) No 575/2013
Article 128 – paragraph 1 – point a
(a) debt exposures which are subordinated to claims of another ordinary unsecured creditors;
2022/08/11
Committee: ECON
Amendment 856 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 52
Regulation (EU) No 575/2013
Article 133 – paragraph 1 – point c – point iv – introductory part
(iv) the holder of the instrument has exercised the option to require that the obligation be settled in equity shares, unless one of the following conditions is met:
2022/08/11
Committee: ECON
Amendment 859 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 52
Regulation (EU) No 575/2013
Article 133 – paragraph 3 and 3a (new)
3. Equity exposures, other than those referred to in paragraph 3a and 4 to 7, shall be assigned a risk weight of 250 %, unless those exposures are required to be deducted or risk-weighted in accordance with Part Two. 3a. Exposures to equity listed on regulated markets shall be assigned a risk weight of 100%. Private equity exposures in sufficiently diversified portfolios shall be assigned a risk weight of 190 % unless those exposures are required to be deducted.
2022/08/11
Committee: ECON
Amendment 873 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 52
Regulation (EU) No 575/2013
Article 133 – paragraph 6
6. Equity exposures to central banks shall be assigned a risk weight of 100 %.
2022/08/11
Committee: ECON
Amendment 923 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 66 – point c a (new)
Regulation (EU) No 575/2013
Article 153 – paragraph 5 – subparagraph 1 – table 1
(ca) in paragraph 5, table 1 is amended as follows: Remainin Catego Catego Catego Catego Cate Cate Cate g Maturity ry 1 ry 2 ry 3 ry 4 gory gory gory 5 6 7 Less than 50 % 70 % 100 % 115 % 175 250 0% 2,5 years % % Equal or 70 % 90 % 100 % 115 % 175 250 0% more than % % 2,5 years
2022/08/18
Committee: ECON
Amendment 945 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 75 – point c – point ii – indent -1 (new)
Regulation (EU) No 575/2013
Article 162 – paragraph3 – subparagraph 2 – introductory part
- the introductory part is replaced by the following: In addition, for qualifying short-term exposures which are not part of the institution's ongoing financing of the obligor, M shall be at least one-day. This applies to IRB-Advanced and to IRB- Foundation methods. Qualifying short term exposures shall include the following: " Or. en (02013R0575-20220410)
2022/08/18
Committee: ECON
Amendment 961 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 89 – point c a (new)
(c a) the following paragraph is inserted: 6a. EBA shall develop draft regulatory technical standards to specify the definition of diminished financial obligation in case of distressed restructuring for the purposes of paragraph 3(d). EBA shall submit those draft regulatory technical standards to the Commission by 31 December 2023. 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) No1093/2010. " Or. en (02013R0575-20220410)
2022/08/18
Committee: ECON
Amendment 988 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 98 a (new)
Regulation (EU) No 575/2013
Article 197a (new)
(98 a) the following article is inserted: Art 197a Additional eligibility for collateral under the Standardised Approach 1. Competent authorities shall permit an institution to use, as other eligible collateral, physical collateral where conditions specified in Article 199 (6) and in article 210 are met. Institutions shall document the fulfilment of these conditions. 2. Unless otherwise decided by the competent authorities regarding specific risk weights based on the product category, to exposures fully secured by a physical collateral, which met the conditions set in paragraph 1, shall be assigned a risk weight of 60%. Or. en (Regulation (EU) No 575/2013)
2022/08/18
Committee: ECON
Amendment 998 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 99 – point - a (new)
Regulation (EU) No 575/2013
Article 199 – paragraph 1 – introductory part
(-a) in paragraph 1, the introductory part is replaced by the following: In addition to the collateral referred to in Articles 197 and 198, institutions that calculate risk-weighted exposure amounts all approaches and methods and expected loss amounts under the IRB Approach may also use the following forms of collateral: " Or. en (02013R0575-20220410)
2022/08/18
Committee: ECON
Amendment 1018 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 103 a (new)
Regulation (EU) No 575/2013
Article 210 – introductory part
(103 a)"Physical collateral other than immovable property collateral shall qualify as eligible collateral under the IRB Approachall approaches and methods where all the following conditions are met: " Or. en (02013R0575-20220410)
2022/08/18
Committee: ECON
Amendment 1021 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 104 b (new)
Regulation (EU) No 575/2013
Article 212 – paragraph 2 – point g
g) the surrender value is declared by the company providing the life insurance and is non-reducible; (104 b) in Article 212(2), point (g) is replaced by the following: "g) the current surrender value is declared by the company providing the life insurance. Where the surrender value is reducible, it has to be revaluated during the exposure life cycle; " Or. en (02013R0575-20220410)
2022/08/18
Committee: ECON
Amendment 1032 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 121 a (new)
(121 a) in Article 232, paragraphs 2 is replaced by the following: "2. Where the conditions set out in Article 212(2) are met, institutions shall subject the portion of the exposure collateralised by the current surrender value of life insurance policies pledged to the lending institution to the following treatment: (a) where the exposure is subject to the Standardised Approach, it shall be risk- weighted by using the risk weights specified in paragraph 3; (b) where the exposure is subject to the IRB Approach but not subject to the institution's own estimates of LGD, it shall be assigned an LGD of 40 % . The “portion of the exposure collateralized by the life insurance policies pledged to the lending institution”, where the surrender value (SV) is reducible, has to be calculated by the following formula: SV = SV · (1 - HC) where: HC = volatility adjustment. Where institutions are aware of the underlying exposures of the life insurance policy and the underlying exposures satisfy the eligibility criteria set out in Article 197and 198, they should calculate Hc as the weighted average of each underlying exposure Hc according to Art. 224, paragraph 1 Tables 1 to 3. Underlying exposures in the form of CIUs should be themselves subject to the look-through approach up the maximum extent. For the purposes of calculating weighted average Hc, underlying exposures not satisfying eligibility criteria set out in Article 197 and 198 and underlying exposures in the for of CIUs for which the look-through approach up to the maximum extent is not available should be considered as having Hc equal to 1. " Or. en (02013R0575-20220410)
2022/08/18
Committee: ECON
Amendment 1050 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 131
Regulation (EU) No 575/2013
Article 314 – paragraph 3 – subparagraph 6 a (new)
For Institutions having a service component SC weight greater than 50% of the overall business indicator, the service component shall be calculated in accordance to the following formula: SC = min (SC0 , 50% BI) + max (0,[SC0-50% BI]) * SCCF where: SCCF: service component calibration factor proposed at 50%. SC0= max (OI , OE) + max (FI , FE)
2022/08/18
Committee: ECON
Amendment 1133 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 166 – point b
Regulation (EU) No 575/2013
Article 382 – paragraph 4b
4b. Institutions shall report to their competent authorities the results of the calculations of the own funds requirements for CVA risk for all the transactions referred to in paragraph 4. For the purposes of that reporting requirement, institutions shall calculate the own funds requirements for CVA risk using the relevant approaches set out in Article 382a(1), that they would have used to satisfy an own funds requirement for CVA risk if those transactions were not excluded from the scope in accordance with paragraph 4.deleted
2022/08/18
Committee: ECON
Amendment 1140 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 169
Regulation (EU) No 575/2013
Article 383i – paragraph 2 – subparagraph 1
2. Institutions shall calculate the delta sensitivities of the aggregate CVA to risk factors consisting of foreign exchange spot rates, as well as of an eligible hedge instrument to those risk factors, as follows:
2022/08/18
Committee: ECON
Amendment 1141 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 169
Regulation (EU) No 575/2013
Article 383i – paragraph 3 – subparagraph 1
3. Institutions shall calculate the delta sensitivities of the aggregate CVA to risk factors consisting of counterparty credit spread rates, as well as of an eligible hedge instrument to those risk factors, as follows:
2022/08/18
Committee: ECON
Amendment 1142 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 169
Regulation (EU) No 575/2013
Article 383i – paragraph 5 – subparagraph 1
5. Institutions shall calculate the delta sensitivities of the aggregate CVA to risk factors consisting of equity spot prices, as well as of an eligible hedge instrument to those risk factors, as follows:
2022/08/18
Committee: ECON
Amendment 1241 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 3 – subparagraph 1
3. By way of derogation from Article 92(5)(a), point (i), parent institutions, parent financial holding companies or parent mixed financial holding companies, stand-alone institutions in the EU or stand- alone subsidiary institutions in Member States may, until 31 December2032, assign a risk weight of 65 % to exposures to corporates for which no credit assessment by a nominated ECAI is available provided that that entity estimates the PD of those exposures, calculated in accordance with Part Three, Title II, Chapter 3, is no higher than 0,5 %.
2022/08/18
Committee: ECON
Amendment 1242 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 3 – subparagraph 2
EBA shall monitor the use of the transitional treatment laid down in the first subparagraph and the availability of credit assessments by nominated ECAIs for exposures to corporates. EBA shall report its findings to the Commission by 31 December 2028.deleted
2022/08/18
Committee: ECON
Amendment 1256 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 3 – subparagraph 3
On the basis of that report and taking due account of the related internationally agreed standards developed by the BCBS, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by 31 December 2031.deleted
2022/08/18
Committee: ECON
Amendment 1294 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 196
5. By way of derogation from Article 92(5)(a), point (i), Member States may, allow parent institutions, parent financial holding companies or parent mixed financial holding companies, subsidiary institutions, stand-alone institutions in the EU or stand-alone subsidiary institutions in Member States are allowed to assign the following risk weights provided that all the conditions in the second subparagraph are met.
2022/08/18
Committee: ECON
Amendment 1300 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 1 – point a
(a) until 31 December 2032, a risk weight of 10 % to the part of the exposures secured by mortgages on residential property up to 565 % of the property value remaining after any senior or pari passu ranking liens not held by the institution have been deducted,
2022/08/18
Committee: ECON
Amendment 1314 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 1 – point b
(b) until 31 December 2029, a risk weight of 45% to any remaining part of the exposures secured by mortgages on residential property up to 80 % of the property value remaining after any senior or pari passu ranking liens not held by the institution have been deducted, provided that the adjustment to own funds requirements for credit risk referred to in Article 501 is not applied.
2022/08/18
Committee: ECON
Amendment 1325 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 2 – point a
(a) the qualifying exposures are located in thea Member State that has exercised the discretion;
2022/08/18
Committee: ECON
Amendment 1339 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 3 – introductory part
Where the discretion referred to in the first subparagraph has been exercised and all the associated conditions in the second subparagraph are met, institutions may assign the following risk weights to the remaining part of the exposures referred to in the second subparagraph, point (b), until 31 December 2032:
2022/08/18
Committee: ECON
Amendment 1355 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 3 – point c
(c) 67,5 % during the period from 1 January 2032 to 31 December 2032.
2022/08/18
Committee: ECON
Amendment 1363 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 4
When Member States exercise that discretion, they shall notify EBA and substantiate their decision. Competent authorities shall notify the details of all the verifications referred to in the first subparagraph, point (c), to EBA.deleted
2022/08/18
Committee: ECON
Amendment 1368 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 196
EBA shall monitor the use of the transitional treatment in the first subparagraph and report to the Commission by 31 December 2028 on the appropriateness of the associated risk weights.deleted
2022/08/18
Committee: ECON
Amendment 1376 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5 – subparagraph 6
On the basis of that report and taking due account of the related internationally agreed standards developed by the BCBS, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by 31 December 2031.;deleted
2022/08/18
Committee: ECON
Amendment 1405 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495a – paragraph 3
3. By way of derogation from Article 133 and Article 471, institutions may continue to assign the same risk weight that was applicable as of [OP please insert the date = one day before the date of entry into force of this amending Regulation] to equity exposures to entities– till a maximum of 250% - to the current value of equity exposures to entities, be they corporate or insurance undertakings, of which they have been a shareholder at [adoption date] for six consecutive years and over which they exercise significant influence in the meaning of Directive 2013/34/EU, or the accounting standards to which an institution is subject under Regulation (EC) No 1606/2002, or a similar relationship between any natural or legal person and an undertaking.
2022/08/18
Committee: ECON
Amendment 1445 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495d – paragraph 1 – subparagraph 1 a (new)
This also applies to all the items listed in bucket 5 of Annex I;
2022/08/18
Committee: ECON
Amendment 1462 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 199 a (new)
Regulation (EU) No 575/2013
Article 500 – paragraph 1
(199 a)in Article 500(1) is replaced by the following: ‘1. By way of derogation from point (a) of Article 181(1), an institution may adjust its LGD estimates by partly or fully offsetting the effect of massive disposals of defaulted exposures on realised LGDs up to the difference between the average estimated LGDs for comparable exposures in default that have not been finally liquidated and the average realised LGDs including on the basis of the losses realised due to massive disposals, as soon as all the following conditions are met: (a) the institution has notified the competent authority of a plan providing the scale, composition and the dates of the disposals of defaulted exposures; (b) the dates of the disposals of defaulted exposures are after 23 November 2016 but not later than 28 June31 December 20225; (c) the cumulative amount of defaulted exposures disposed of since the date of the first disposal in accordance with the plan referred to in point (a) has surpassed 20 % of the outstandingcumulative amount of all defaulted exposures as of the date of the first disposal referred to in points (a) and (b). The adjustment referred to in the first subparagraph may only be carried out until 28 Juneon disposals formally approved by the bank competent body on the basis of the offers received until 31 December 20225 and its effects may last for as long as the corresponding exposures are included in the institution's own LGD estimates. (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02013R0575-20220410)’ Or. en
2022/08/18
Committee: ECON
Amendment 1474 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 199 a (new)
Regulation (EU) No 575/2013
Article 500da (new)
(199 a)the following article is inserted: Article 500da 1. For the purpose of calculating loss in accordance with point (2) of Article 5, the artificial cashflow may reflect: (i) principal: total outstanding amount of the full loan at the moment of cure, but only the amount of missed payments (i.e. actual past due payments) accrued up to the moment of cure should be discounted; (ii) interest: amount accrued between the moment of default and the moment of cure; (iii) fees: amount accrued between the moment of default and the moment of cure; (iv) additional observed recoveries: total amount received up to the moment of cure; (v) additional drawings: firms should follow the requirements of CRR Articles 182(1)(c), 181(2)(b) and 182(3).Additional drawings included in the artificial cash flow should be treated in the same way as the principal; and (vi) costs: amount accrued between the moment of default and the moment of cure. 2. In applying point 1, the “moment of cure” may be defined as the moment when no triggers of default continue to apply at the start of the final probation period. 3. The artificial cash flow may be discounted over the actual period of default only (i.e. between the moment of default and the moment of cure) and, therefore, should not be discounted over any additional time period after the moment of cure, such as the final probation period. The rate at which artificial cash flow may be discounted should be based solely on the primary interbank offered rate during the period of default.
2022/08/18
Committee: ECON
Amendment 1478 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 200
Regulation (EU) No 575/2013
Article 501 – paragraph 1 – subparagraph 1
1. Institutions shall adjust the risk- weighted exposure amounts for non- defaulted exposures to an SME (RWEA), which are calculated in accordance with Chapter 2 or 3 of Title II of Part Three, as applicable, in accordance with the following formula: if E' > EUR 2 55 000 000, RW* = min RW; EUR 2 55 000 000 0.7619 + max 0; RW – 2 55 000 000 0.85 Oren
2022/08/18
Committee: ECON
Amendment 1484 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 201 – point -a (new)
Regulation (EU) No 575/2013
Article 501a – paragraph 1 – point a – introductory part
(-a) in Article 501a(1), the introductory part is replaced by the following: ‘1. Own funds requirements for credit risk calculated in accordance with Title II of Part III shall be multiplied by a factor of 0,7560, provided that the exposure complies with all the following criteria: (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02013R0575-20220410)’ Or. en
2022/08/18
Committee: ECON
Amendment 1485 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 201 – point a
Regulation (EU) No 575/2013
Article 501a – paragraph 1 – point a
(a) the exposure is assigned toincluded either in the corporate exposure class referred to either in Article 112, point (g),or in the specialised lending exposures class. Including Project Finance, Object Finance, Real Estate exposures to entities that operate or fin Article 147(2), point (c)ance physical structures facilities, assets , systems and networks that provide or support essential public services, with the exclusion of exposures in default;;
2022/08/18
Committee: ECON
Amendment 1522 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 205
Regulation (EU) No 575/2013
Article 519d – paragraph 1 – introductory part
By [OP please insert the date = 60 months after date of application of Part Three, Title III], tThe EBA shall report to the Commission on all of the following:
2022/08/18
Committee: ECON
Amendment 1523 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 205
Regulation (EU) No 575/2013
Article 519d – paragraph 1 – introductory part
By [OP please insert the date = 606 (six) months after the date of application of Part Three, Title III], the EBA shall report to the Commission on allthe use of a insurance policy standardized formula based ofn the following criteria:
2022/08/18
Committee: ECON
Amendment 1527 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 205
Regulation (EU) No 575/2013
Article 519d – paragraph 1 – point a and point b a (new)
(a) the use of insurance in the context of the calculation of the own funds requirements for operational risk;standardized formula to be used as capital requirements measurement purpose will take into account: a. a policy limit b. a policy deductible c. an adjustment depending on the chosen deductible, ensuring the benefit decreases as the deductible increases d. a standard haircut, to be determined by the competent Supervisor depending on the probability of each Insurer’s default or potential delay inpayments; e. a specific policy percentagecoverage related to the extent of the coverage, excluding overlapping withother policies. The reduction shall not exceed 20% of the capital requirement. (ba) EBA will identify eligible insurance contracts, with standardized wording pre- cleared by EBA by means of an ad hoc RTS (Regulatory TechnicalStandard).
2022/08/18
Committee: ECON
Amendment 1530 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 205
Regulation (EU) No 575/2013
Article 519d – paragraph 1 – point b
(b) whether the recognition of insurance recoveries may allow for regulatory arbitrage by reducing the annual operational risk loss without a commensurate reduction in the actual operational loss exposure;deleted
2022/08/18
Committee: ECON
Amendment 1531 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 205
Regulation (EU) No 575/2013
Article 519d – paragraph 1 – point c
(c) whether the recognition of insurance recoveries has a different impact on the appropriate coverage of recurring losses and of potential tail losses, respectively.deleted
2022/08/18
Committee: ECON
Amendment 1533 #

2021/0342(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 205
On the basis of that report, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal by [OP please insert the date = 72 months after date of application of Part Three, Title III].; as to take into consideration a standardized formula in the calculation of own funds requirements for operational risk, the Commission will be empowered to submit the formula to the European Parliament and the Council, a legislative proposal, by 12 months after date of application of Part Three, Title III. 2. The insurance provider shall be authorised to provide insurance or re- insurance and shall have a minimum claims paying ability rating by an ECAI which has been determined by EBA to be associated with credit quality step 3 or above under the rules for the risk weighting of exposures to institutions under Title II, Chapter 2. 3. The insurance and the institutions' insurance framework shall meet all the following conditions: a. the insurance policy has an initial term of no less than one year. For policies with a residual term of less than one year, an institution shall make appropriate haircuts reflecting the declining residual term of the policy, up to a full 100 % haircut for policies with a residual term of 90 days or less; b. the insurance policy has a minimum notice period for cancellation of the contract of 90 days; c. the insurance policy has no exclusions or limitations triggered by supervisory actions or, in the case of a failed institution, that preclude the institution's receiver or liquidator from recovering the damages suffered or expenses incurred by the institution, except in respect of events occurring after the initiation of receivership or liquidation proceedings in respect of the institution. However, the insurance policy may exclude any fine, penalty, or punitive damages resulting from actions by the competent authorities; d. the insurance is provided by a third party entity. In the case of insurance through captives and affiliates, the exposure has to be laid off to an independent third party entity that meets the eligibility criteria set out in paragraph 2; e. the framework for recognising insurance is well reasoned and documented. 4. The methodology for recognising insurance shall capture all the following elements through discounts or hair cuts in the amount of insurance recognition: a. the residual term of the insurance policy, where less than one year; b. the policy's cancellation terms, where less than one year; c. the uncertainty of payment as well as mismatches in coverage of insurance policies. 5. The reduction in own funds requirements from the recognition of insurances and other risk transfer mechanisms shall not exceed 20% of the own funds requirement for operational risk before the recognition of risk mitigation techniques.
2022/08/18
Committee: ECON
Amendment 1546 #

2021/0342(COD)

Proposal for a regulation
Annex – table – column 2 – row 8
Regulation (EU) No 575/201
Annex 1
Performance bonds, bid bonds, warranties and standby letters of credit related to particular transactions and similar transaction-related contingent itemsnot related to trade finance;
2022/08/18
Committee: ECON
Amendment 1556 #

2021/0342(COD)

Proposal for a regulation
Annex – table – column 2 – row 13 a (new)
Regulation (EU) No 575/2013
Annex I
 Performance bonds, bid bonds and warranties related to trade finance, and standby letters of credit related to particular transactions and similar transaction-related contingent items;
2022/08/18
Committee: ECON
Amendment 168 #

2021/0341(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 4 – point b a (new)
Directive 2013/36/EU
Article 21a – paragraph 4 – subparagraph 2
(b a) in paragraph 4, subparagraph 2 is replaced by the following: Financial holding companies or mixed financial holding companies exempted from approval in accordance with this paragraph shall not be excluded from the perimeter of consolidation as laid down in this Directive and in Regulation (EU) No 575/2013. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02013L0036-20220101 unless, upon request of the financial holding company or mixed financial holding company, the competent authority identifies a composition of the group other than the one designated. In particular, the financial holding company or mixed financial holding company may not be considered the parent company where, in the opinion of the competent Authorities, the following conditions are met: i) the company has a statutory prohibition to assume management and coordination functions; ii) the company has no significant equity investments other than that in the company or bank as referred to in the following paragraph; iii) there is a bank or another company that is allowed and declares to exercise the management and coordination functions.’ Or. en
2022/08/22
Committee: ECON
Amendment 377 #

2021/0341(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 18 – point b
Directive 2013/36/EU
Article 88 – paragraph 3 – subparagraph 1
3. Member States shall ensure that institutions draw up, maintain and update individual statements setting out the roles and duties of each member of the management body, senior management and key function holders and a mapping of duties, including details of the reporting lines and the lines of responsibility,of key function holders and the persons who are part of the governance arrangements as referred to in Article 74 (1) and their duties approved by the management body.
2022/08/22
Committee: ECON
Amendment 384 #

2021/0341(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 18 – point b
Directive 2013/36/EU
Article 88 – paragraph 3 – subparagraph 2
Member States shall ensure that the statements of duties and the mapping of the dutiroles are made available and communicated in due time, upon request, to the competent authorities.
2022/08/22
Committee: ECON
Amendment 387 #

2021/0341(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 18 – point b
Directive 2013/36/EU
Article 88 – paragraph 3 – subparagraph 3
EBA shall issue guidelines, in accordance with Article 16 of Regulation (EU) No 1093/2010, ensuring the implementation of this paragraph and its consistent application. EBA shall issue those guidelines by [OP please insert the date = 12 months from date of entry into force of this amending Directive].deleted
2022/08/22
Committee: ECON
Amendment 405 #

2021/0341(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 a – paragraph 2 – subparagraph 1
2. The entities shall assess the suitability oftiming of the suitability assessment is subject to national law and takes place before or after the members of the management body before those members take up their positions. Where the entities conclude, based on the suitability assessment, that the member concerned does not fulfil the criteria and requirements set out in paragraph 1, the entities shall ensure that the member concerned does not take up the position considered.
2022/08/22
Committee: ECON
Amendment 411 #

2021/0341(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 a – paragraph 2 – subparagraph 1 a (new)
Without prejudice to the timing provided for in national law, where it is strictly necessary to replace a member of the management body immediately, the entities may assess the suitability of such replacement members after they have taken up their positions. The entities shall be able to duly justify such immediate replacement.
2022/08/22
Committee: ECON
Amendment 441 #

2021/0341(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 b – paragraph 3 – subparagraph 2
Competent authorities shall complete the assessment referred to in paragraph 1 within 840 working days (‘assessment period’) as from the date of the written acknowledgement referred to in the first subparagraph of this paragraph.
2022/08/22
Committee: ECON
Amendment 453 #

2021/0341(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 b – paragraph 4
4. Competent authorities that request from the entities additional information or documentation, including interviews or hearings, may extend the assessment period for a maximum of 420 working days. However, the assessment period shall not exceed 1260 working days. Request for additional information or documentation shall be made in writing and shall be specific. The entities shall acknowledge receipt of request for additional information or documentation within two working days and provide the requested additional information or documentation within 10 working days as of the date of the written acknowledgement of the request from competent authorities.
2022/08/22
Committee: ECON
Amendment 468 #

2021/0341(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 b – paragraph 8
8. In accordance with paragraphs 1 to 7, competent authorities shall carry out the suitability assessment before members of the management body take up their positions in the following entities: (a) qualifies as largedeleted the EU parent institution; (b) St thate that qualifies as large institution; (c) institution or that supervises large institutions affiliated to it; (d) that qualifies as large institution; (e) (f) companies in a Member State, parent mixed financial holding companies in a Member State, EU parent financial holding companies and EU parent mixed financial holding companies, having large institutions or relevant subsidiaries within their group. However, where it is strictly necessary to replace a member of the management body immediately, competent authorities may carry out the suitability assessment of members of the management body after they take up their positions. The entities shall be able to duly justify such immediate replacement.e parent institution in a Member central body that qualifies as large stand-alone institution in the EU relevant subsidiary; the parent financial holding
2022/08/22
Committee: ECON
Amendment 508 #

2021/0341(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 22 a (new)
Directive 2013/36/EU
Article 97 – paragraph 4 – subparagraph 2
(22a) in Article 97, (4), subparagraph 2 is replaced by the following: When conducting the review and evaluation referred to in paragraph 1 of this Article, competent authorities shall apply the principle of proportionality in accordance with the criteria disclosed pursuant to point (c) of Article 143(1). https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02013L0036-20220101having regard to definitions set out in article 4, paragraph 1, from points 145 to point 146-bis of Regulation (EU) 575/2013 and, in accordance with the criteria disclosed pursuant to point (c) of Article 143(1). For entities referred to in article 4,paragraph 1, point 146-bis of Regulation (EU) 575/2013 competent authorities shall take into account the fact that subsidiaries or affiliated undertakings are all small and non-complex or less significant institutions’ Or. en
2022/08/22
Committee: ECON
Amendment 516 #

2021/0341(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 22 -a (new)
Directive 2013/36/EU
Article 98 – paragraph 1 – point i
(i) the business model of the institution https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02013L0036-2022010122a) in Article 98(1), point i is replaced by the following: (i) the business model of the institution, including those essential features defined in national law as for entities referred to in Article 4, point 146a of Regulation (EU) No 575/2013 Or. en
2022/08/22
Committee: ECON
Amendment 576 #

2021/0341(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 32 a (new)
Directive 2013/36/EU
Article 143 – paragraph 1 – point c
(32a) in Article 143(1), point c is replaced by the following: ‘(c) the general criteria and methodologies they use in the review and evaluation referred to in Article 97, including the criteria for applying the principle of proportionality as referred to in Article 97(4); https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02013L0036-20220101For the latter criteria and in respect to, at least, for small and non-complex institutions as defined in Article 4, paragraph 1, point 145 of Regulation (EU) No 2019/876 a positive impact on proportionality needs to be achieved by providing the following elements be unambiguously published in addition to the existing ones: (i) a simplified approach to individuate material risks (ii) simplified approaches to quantify the single material risks under Chapter 2 (review processes) Section II (arrangements, processes and mechanisms of institutions)Sub-Section 2 (technical criteria concerning the organisation and treatment of risks) and under Article 98 of these Directive (iii) guidance on scope, methodologies, scenario and data for small and non- complex institutions’ stress testing;’ Or. en
2022/08/22
Committee: ECON
Amendment 106 #

2021/0296(COD)

Proposal for a directive
Article 5 – paragraph 5
5. Supervisory authorities shall ensure that insurance and reinsurance undertakings update their pre-emptive recovery plans at least annuallyevery two years and after a change to the legal or organisational structure of the undertaking concerned, or to its business or its financial situation, which could have a material effect on, or necessitates a material change to, the pre- emptive recovery plan.
2022/07/18
Committee: ECON
Amendment 137 #

2021/0296(COD)

Proposal for a directive
Article 9 – paragraph 4 – subparagraph 2
Resolution plans shall not assume any extraordinary public financial support besides, where available, the use of insurance guarantee schemes or of any financing arrangements. or public intervention aimed at ensuring the protection of policyholders and the financial stability of Member States.
2022/07/18
Committee: ECON
Amendment Amendment805 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 38 – point c
Directive 2009/138/EC
Article 77d – paragraph 4 – subparagraph 5
The country adjustment factor referred to in point (e) shall be calculated as follows: 𝜔𝑐𝑜 = 𝑚𝑎𝑥(𝑚𝑖𝑛( ;1);0) Where 𝑹𝑺𝑪𝒄𝒐 for the country co as referred to∗ 𝑹𝑪𝑺𝒄𝒐 ― 0.6% 𝑹𝑪𝑺𝒄𝒐 ― 0.6% 𝜔𝑐𝑜 = 𝑚𝑎𝑥(𝑚𝑖𝑛( ;1);0) 0.3% 0.3% ∗ ins the first subparagraph, point (d), multiplied by the percentage of investments in debt instruments relative to total assets held by insurance and reinsurance undertakings authorised in country co.risk-corrected spread
2022/09/07
Committee: ECON
Amendment 209 #

2021/0295(COD)

Proposal for a directive
Recital 3
(3) As underlined in the Commission’s Communication of 24 September 2020 ‘A Capital Markets Union for people and businesses’18 , incentivising institutional investors, in particular insurers, to make more long-term investments will be instrumental in supporting re-equitisation in the corporate sector. To facilitate insurers’ contribution to the financing of the economic recovery of the Union, the prudential framework should be adjusted to better take into account the long-term nature of the insurance business. In particular, when calculating the Solvency Capital Requirement under the standard formula, the possibility to use a more favourable standard parameter for equity investments which are held with a long- term perspective should be facilitated, provided that insurance and reinsurance undertakings comply with sound and robust criteria, that preserve policyholder protection and financial stability. Such criteria should aim to ensure that insurance and reinsurance undertakings are able to avoid forced selling of equities intended to be held for the long term, including under stressed market conditions. As insurance and reinsurance undertakings have a wide range of risk-management tools to avoid such forced selling, the criteria should recognise such variety and not require the legal or contractual ring- fencing of long-term investment assets in order to benefit from the more favourable standard parameter for equity investments. __________________ 18 COM/2050/590 final
2022/08/01
Committee: ECON
Amendment 211 #

2021/0295(COD)

Proposal for a directive
Recital 3 a (new)
(3 a) The need to properly reflect extremely low and negative interest rates in the insurance regulation has arisen due to what has been witnessed in recent years on the markets; this has to be achieved via a recalibration of the Interest Rate Risk sub-module to reflect the existence of a negative yield environment. At the same time, the methodology to be used shall not result in unrealistically large decreases in the liquid part of the curve; this can be avoided by foreseeing an explicit floor to represent a lower bound of interest rates. In line with interest rates dynamics, the floor should not be flat but term-dependent.
2022/08/01
Committee: ECON
Amendment 215 #

2021/0295(COD)

Proposal for a directive
Recital 4
(4) In its Communication of 11 December 2019 on the European Green Deal19 , the Commission made a commitment to integrate better into the Union’s prudential framework the management of climate and environmental risks. The European Green Deal is the Union’s new growth strategy, which aims to transform the Union into a modern, resource-efficient and competitive economy with no net emissions of greenhouse gases by 2050. It will contribute to the objective of building an economy that works for the people, strengthening the Union’s social market economy, helping to ensure that it is future-ready and that it delivers stability, jobs, growth and investment. In its proposal of 4 March 2020 for a European Climate Law, the Commission proposed to make the objective of climate neutrality and climate resilience by 2050 binding in the Union. That proposal was adopted by the European Parliament and by the Council and it entered into force on 29 July 202120 . The Commission’s ambition to ensure global leadership by the EU on the path towards 2050 was reiterated in the 2021 Strategic Foresight Report21 , which identifies the building of resilient and future-proof economic and financial systems as a strategic area of action. __________________ 19 COM(2019)640 final 20 Regulation (EU) 2021/1119 of the European Parliament and of the Council of 30 June 2021 establishing the framework for achieving climate neutrality and amending Regulations (EC) No 401/2009 and (EU) 2018/1999 (‘European Climate Law’) (OJ L 243, 9.7.2021, p. 1). 21 COM(2021)750 finaldeleted
2022/08/01
Committee: ECON
Amendment 217 #

2021/0295(COD)

Proposal for a directive
Recital 5
(5) The EU sustainable finance framework will play a key role in meeting the targets of the European Green Deal and environmental regulation should be complemented by a sustainable finance framework which channels finance to investments that reduce exposure to these climate and environmental risks. In its Communication of 6 July 2021 on a Strategy for Financing the Transition to a Sustainable Economy22 , the Commission committed to propose amendments to Directive 2009/138/EC to consistently integrate sustainability risks in risk management of insurers by requiring climate change scenario analysis by insurers. __________________ 22 COM(2021)390deleted
2022/08/01
Committee: ECON
Amendment 229 #

2021/0295(COD)

Proposal for a directive
Recital 14
(14) Captive insurance undertakings and captive reinsurance undertakings which only cover risks associated with the industrial or commercial group to which they belong, present a particular risk profile that should be taken into account when defining some requirements, in particular on own-risk and solvency assessment, disclosures and the related empowerments for the Commission to further specify the rules on such empowerments. MoreoverTherefore, captive insurance undertakings and captive reinsurance undertakings should also be able to benefit from the proportionality measures when they areby being automatically classified as low- risk profile undertakings.
2022/08/01
Committee: ECON
Amendment 243 #

2021/0295(COD)

Proposal for a directive
Recital 26
(26) Directive 2009/138/EC requires insurance and reinsurance undertakings to have, as an integrated part of their business strategy, a periodic own-risk and solvency assessment. Some risks, such as climate change risks, are difficult to quantify or they materialise over a period that is longer than the one used for the calibration of the Solvency Capital Requirement. Those risks can be better taken into account in the own-risk and solvency assessment. Where insurance and reinsurance undertakings have material exposure to climate risks, they should be required to carry out, within appropriate intervals and as part of the own-risk and solvency assessment, analyses of the impact of long-term climate change risk scenarios on their business. Such analyses should be proportionate to the nature, scale and complexity of the risks inherent in the business of the undertakings. In particular, while the assessment of the materiality of exposure to climate risks should be required from all insurance and reinsurance undertakings, long-term climate scenario analyses should not be required for low-risk profile undertakings.deleted
2022/08/01
Committee: ECON
Amendment 264 #

2021/0295(COD)

Proposal for a directive
Recital 39 a (new)
(39 a) Directive 2009/138/EC requires that the amount of eligible own funds necessary to support the insurance and reinsurance obligations be determined for the purpose of the risk margin calculation and that the Cost-of-Capital rate is equal to the additional rate, above the relevant risk-free interest rate, that an insurance or reinsurance undertaking would incur holding that amount of eligible own funds. Directive 2009/138/EC also requires that the Cost-of-Capital rate be reviewed periodically. For that purpose, the reviews should ensure that the Cost- of-Capital rate remains risk-based and is not set at an overly conservative level. In addition, the projection of future capital requirements for that purpose should take into account the time-dependence of risks in the aggregation of projected future capital requirements. In particular, projected future capital requirements for later years should have a lesser contribution to the risk margin than projected capital requirements of the same level pertaining to earlier years.
2022/08/01
Committee: ECON
Amendment 266 #

2021/0295(COD)

Proposal for a directive
Recital 40
(40) For the purposes of calculating their own funds under Regulation (EU) No 575/2013 of the European Parliament and of the Council23 , institutions which belong to financial conglomerates that are subject to Directive 2002/87/EC of the European Parliament and of the Council24 may be permitted not to deduct their significant investments in insurance or reinsurance undertakings, provided that certain criteria are met. There is a need to ensure that prudential rules applicable to insurance or reinsurance undertakings and credit institutions allow for an appropriate level- playing field between banking-led and insurance-led financial groups. Therefore, insurance or reinsurance undertakings should also be permitted not to deduct from their eligible own funds participations in credit and financial institutions, subject to similar conditions and to apply a capital requirement factor based on the market risk module, calculated in accordance with Directive 2009/138/EC, to the participations in credit and financial institutions. In particular, either group supervision in accordance with Directive 2009/138/EC or supplementary supervision in accordance with Directive 2002/87/EC should apply to a group encompassing both the insurance or reinsurance undertaking and the related institution. In addition, the institution should be an equity investment of strategic nature for the insurance or reinsurance undertaking and supervisory authorities should be satisfied as to the level of integrated management, risk management and internal controls regarding the entities in the scope of group supervision or supplementary supervision. To ensure a full level-playing field between banking-led and insurance-led financial groups. __________________ 23 Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1). 24 Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p. 1).
2022/08/01
Committee: ECON
Amendment 273 #

2021/0295(COD)

Proposal for a directive
Recital 45
(45) Directive 2009/138/EC provides for the possibility for insurance and reinsurance undertakings to calculate their Solvency Capital Requirement with an internal model subject to supervisory approval. Where an internal model is applied, that Directive does not prevent the insurance and reinsurance undertaking from taking into account the effect of credit spread movements on the volatility adjustment in its internal model. As the use of the volatility adjustment can lead to benefits in excess of a mitigation of exaggerated bond spreads in the calculation of the best estimate, such excessive benefits can also distort the calculation of the Solvency Capital Requirement where the effect of credit spread movements on the volatility adjustment is taken into account in the internal model. In order to avoid such distortion, the Solvency Capital Requirement should be floored, where supervisory authorities allow insurance and reinsurance undertaking to take into account the effect of credit spread movements on the volatility adjustment in their internal model, at a level below which benefits on the Solvency Capital Requirement in excess of a mitigation of exaggerated bond spreads are expected to occur.deleted
2022/08/01
Committee: ECON
Amendment 275 #

2021/0295(COD)

Proposal for a directive
Recital 54
(54) Supervisory authorities should have the necessary powers to preserve the solvency position of specific insurance or reinsurance undertakings during exceptional situations such as adverse economic or marketsector events affecting a large part or the totality of the insurance and reinsurance market, in order to protect policyholders and preserve financial stability. Those powers should include the possibility to restrict or suspend distributions to shareholders and other subordinated lendbe applied on a case-by-case basis, as a matter of last resort and only if there is imminent dangers of a given insurance or reinsurance undertaking before an actual breachpolicyholders' rights being endangered ofr the Solvency Capital Requirement occurso financial stability. Those powermeasures should be applied on a case-by-case basis, respect common risk- based criteria and not undermine the functioning of the internal market.
2022/08/01
Committee: ECON
Amendment 286 #

2021/0295(COD)

Proposal for a directive
Recital 64
(64) There is a lack of clarity regarding the types of undertakings for which Method 2, namely a deduction and aggregation method as defined in Article 233 of Directive 2009/138/EC, may be applied when calculating group solvency, which is detrimental to the level-playing field in the Union and in third countries. Therefore, it should be clearly specified which undertakings may be included in the group solvency calculation through Method 2. Such method should only apply to insurance and reinsurance undertakings, third-country insurance and reinsurance undertakings, undertakings belonging to other financial sectors, mixed financial holding companies, insurance holding companies, and other parent undertakings the main business of which is to acquire and hold participations in subsidiary undertakings, where those subsidiary undertakings are exclusively or mainly insurance or reinsurance undertakings, or third-country insurance or reinsurance undertakings.
2022/08/01
Committee: ECON
Amendment 291 #

2021/0295(COD)

Proposal for a directive
Recital 78
(78) Achieving the environmental and climate ambitions of the Green Deal requires the channelling of large amounts of investments from the private sector, including from insurance and reinsurance companies, towards sustainable investments. The provisions of Directive 2009/138/EC on the capital requirements should not impede sustainable investments by insurance and reinsurance undertakings but should reflect the full risk of investments in environmentally harmful activities. While there is not sufficient evidence at this stage on risk differentials between environmentally or socially harmful and other investments, such evidence may become available over the next years. In order to ensure an appropriate assessment of the relevant evidence, EIOPA should monitor and report by 2023 on the evidence on the risk profile of environmentally or socially harmful investments. Where appropriate, EIOPA’s report should advise on changes to Directive 2009/138/EC and to the delegated and implementing acts adopted pursuant to that Directive. EIOPA may also inquire whether it would be appropriate that certain environmental risks, other than climate change-related, should be taken into account and how. For instance, if evidence so suggests, EIOPA could analyse the need for extending scenario analyses as introduced by this Directive in the context of climate change-related risks to other environmental risks.deleted
2022/08/01
Committee: ECON
Amendment 299 #

2021/0295(COD)

Proposal for a directive
Recital 79
(79) Climate change is affecting and will affect at least over the next decades the frequency and severity of natural catastrophes which are likely to further aggravate due to environmental degradation and pollution. This may also change the exposure of insurance and reinsurance undertakings to natural catastrophe risk and render invalid the standard parameters for natural catastrophe risk set out in Delegated Regulation (EU) 2015/35. In order to ensure that there is no persistent discrepancy between the standard parameters for natural catastrophe risk and the actual exposure of insurance and reinsurance companies to such risks, EIOPA should review regularly the scope of the natural catastrophe risk module and the calibrations of its standard parameters. For that purpose, EIOPA should take into account the latest available evidence from climate science and, where discrepancies are found, it should submit an opinion to the Commission accordingly.deleted
2022/08/01
Committee: ECON
Amendment 307 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 2
Directive 2009/138/EC
Article 4 – paragraph 1 – point a
(a) the undertaking’s annual gross written premium does not exceed EUR 125 000 000;
2022/08/01
Committee: ECON
Amendment 309 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 2
Directive 2009/138/EC
Article 4 – paragraph 1 – point b
(b) the total of the undertaking’s technical provisions, gross of the amounts recoverable from reinsurance contracts and special purpose vehicles, as referred in Article 76, does not exceed EUR 650 000 000;;
2022/08/01
Committee: ECON
Amendment 312 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 2
Directive 2009/138/EC
Article 4 – paragraph 1 – point c
(c) where the undertaking belongs to a group, the total of the technical provisions of the group defined as gross of the amounts recoverable from reinsurance contracts and special purpose vehicles does not exceed EUR 265 million; (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02009L0138-20210630)000 000; Or. en
2022/08/01
Committee: ECON
Amendment 317 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 5 – point b
Directive 2009/138/EC
Article 13 – paragraph 1 – point 10a
(10a) ‘low-risk profile undertaking’ means an insurance and reinsurance undertaking that meets the conditions set out in Article 29a and has been classified as such in accordance with Article 29b as well as a captive insurance undertaking and a captive reinsurance undertaking;
2022/08/01
Committee: ECON
Amendment 359 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2009/138/EC
Article 29a – paragraph 1 – subparagraph 1 – point a – subparagraph 1 – point iv
(iv) investments in non-traditional investments do not represent more than 230% of total investments;
2022/08/01
Committee: ECON
Amendment 365 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2009/138/EC
Article 29a – paragraph 1 – subparagraph 1 – point b – subparagraph 1 – point v
(v) investments in non-traditional investments do not represent more than 230% of total investments;
2022/08/01
Committee: ECON
Amendment 372 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2009/138/EC
Article 29a – paragraph 1 – subparagraph 1 – point c – subparagraph 1 – point vii
(vii) investments in non-traditional investments do not represent more than 230% of total investments;
2022/08/01
Committee: ECON
Amendment 378 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13
Directive 2009/138/EC
Article 29a – paragraph 1 – subparagraph 2
For the purpose of this Article, traditional investments shall consist of bonds, equities, real estate, loans including private loans, promissory notes and mortgages, cash and cash equivalents and deposits and t. Total investments shall consist of all assets, including derivatives, and excluding investments covering unit-index linked contracts, excluding property for own use, excluding plant and equipment for own use, excluding property under construction for own used.
2022/08/01
Committee: ECON
Amendment 407 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 16 – point a
Directive 2009/138/EC
Article 35 – paragraph 1
Member States shall require insurance and reinsurance undertakings to submit to the supervisory authorities the information which is necessary for the purposes of supervision, taking into account the objectives of supervision laid down in Articles 27 and 28 and the general principles of supervision, in particular the principle of proportionality, laid down in Article 29.;
2022/08/01
Committee: ECON
Amendment 409 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 16 – point b
Directive 2009/138/EC
Article 35 – paragraph 5a – subparagraph 2 – point a
(a) every threfive years, for low-risk profile undertakings;
2022/08/01
Committee: ECON
Amendment 412 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 16 – point g
Directive 2009/138/EC
Article 35 – paragraph 12 – subparagraph 1 – point b a (new)
(b a) reduce compliance costs, in particular for low-risk profile undertakings;
2022/08/01
Committee: ECON
Amendment 413 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 17
Directive 2009/138/EC
Article 35a – paragraph 1 – subparagraph 2
That limitation to regular supervisory reporting shall be granted only to undertakings that collectively do not represent more than 230 % of a Member State’s life and non-life insurance and reinsurance market respectively, where the non-life market share is based on gross written premiums and the life market share is based on gross technical provisions.
2022/08/01
Committee: ECON
Amendment 419 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 17
Directive 2009/138/EC
Article 35a – paragraph 2 – subparagraph 3
The exemption from reporting on an item- by-item basis shall be granted only to undertakings that collectively do not represent more than 230 % of a Member State’s life and non-life insurance or reinsurance market respectively, where the non-life market share is based on gross written premiums and the life market share is based on gross technical provisions. When determining the eligibility of undertakings for those limitations or exemptions, supervisory authorities shall give priority to low-risk profile undertakings.
2022/08/01
Committee: ECON
Amendment 492 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 25
Directive 2009/138/EC
Article 45a
(25) the following Article 45a is inserted: ‘ Article 45a Climate change scenario analysis 1. identification and assessment of risks referred to in Article 45(2), the undertaking concerned shall also assess whether it has any material exposure to climate change risks. The undertaking shall demonstrate the materiality of its exposure to climate change risks in the assessment referred to in Article 45(1). 2. has material exposure to climate change risks, the undertaking shall specify at least two long-term climate change scenarios, including the following: (a) a long-term climate change scenario where the global temperature increase remains below two degrees Celsius; (b) a long-term climate change scenario where the global temperature increase is equal to or higher than two degrees Celsius. 3. assessment referred to in Article 45(1) shall contain an analysis of the impact on the business of the undertaking of the long-term climate change scenarios specified pursuant to paragraph 2 of this Article. Those intervals shall be proportionate to the nature, scale and complexity of the climate change risks inherent in the business of the undertaking, but be no longer than three years. 4. scenarios referred to in the paragraph 2 shall be reviewed, at least every three years, and updated where necessary. 5. paragraphs 2, 3 and 4, insurance and reinsurance undertakings that are classified as low-risk profile undertakings shall neither be required to specify climate change scenarios nor to assess their impact on the business of the undertaking.; ’deleted For the purposes of the Where the undertaking concerned At regular intervals, the The long-term climate change By way of derogation from
2022/08/01
Committee: ECON
Amendment 551 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 36
Directive 2009/138/EC
Article 77 – paragraph 3 a (new)
3a. The risk margin for the entire portfolio of insurance and reinsurance obligations shall be calculated using the following formula: RM = CoC * Σt≥0 (0.9t*SCR(t)/((1+r(t+1))t+1) where (a) CoC denotes the Cost-of-Capital rates (b) the sum covers all integers including zero (c) SCR(t) denotes the Solvency Capital Requirement after t years (d) r(t+1) denotes the basic risk-free interest rate for the maturity of t+1 years.
2022/08/01
Committee: ECON
Amendment 558 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 36 a (new)
Directive 2009/138/EC
Article 77 – paragraph 5 a (new)
5a. The Cost-of-Capital rate referred to in paragraph 5 shall be assumed to be equal to 4 %.
2022/08/01
Committee: ECON
Amendment 563 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 37
Directive 2009/138/EC
Article 77a – paragraph 2 – subparagraph 1
2. For the purpose of paragraph 1, second subparagraph, any parameters determining the speed of the convergence of the forward rates towards the ultimate forward rate of the extrapolation may be chosen such that on [OP please insert date = application date] the risk-free interest rate term structure is sufficiently similar to the risk-free interest rate term structure on that date determined in line with the rules for the extrapolation applicable on [OP please insert date = one day before date of application]. Those parameters of the extrapolation shall be decreased linearly at the beginning of each calendar year, during a transitional period. The final parameters of the extrapolation shall be applied as of 1 JanuaryThe extrapolated risk-free rate shall be determined as follows: rFSP+h = FSP+h√((1+rFSP)FSP * exp(h*fh)) - 1 Where: fh = ln(1+UFR) + [(LLFR - ln(1+UFR)] * ((1-exp(-a*h)/(a*h)) (a) UFR is the Ultimate Forward Rate (b) a is the convergence speed parameter (c) LLFR is the Last Liquid Forward Rate (d) FSP is the First Smoothing Point The convergence speed parameter a shall be set at 2032%.
2022/08/01
Committee: ECON
Amendment 579 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 38 – point c
Directive 2009/138/EC
Article 77d – paragraph 2 – subparagraphs 2 a (new) and 2 b (new)
For each currency and each country, the spread referred to in paragraph (2) shall be equal to the following: S = wgov * max (Sgov, 0) + wcorp * max(Scorp, 0) where: (a) wgov denotes the ratio of the value of government bonds included in the reference portfolio of assets for that currency or country and the value of all the assets included in that reference portfolio; (b) Sgov denotes the average currency spread on government bonds included in the reference portfolio of assets for that currency or country; (c) wcorp denotes the ratio of the value of bonds other than government bonds, loans and securitisations included in the reference portfolio of assets for that currency or country and the value of all the assets included in that reference portfolio; (d) Scorp denotes the average currency spread on bonds other than government bonds, loans and securitisations included in the reference portfolio of assets for that currency or country. For the purposes of this paragraph, ‘government bonds’ means exposures to central governments and central banks.
2022/08/01
Committee: ECON
Amendment 588 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 38 – point c
Directive 2009/138/EC
Article 77d – paragraph 3 a (new)
3a. The portion of the spread that is attributable to a realistic assessment of expected losses, unexpected credit risk or any other risk shall be calculated in the same manner as the fundamental spread referred to in Article 77c(2).
2022/08/01
Committee: ECON
Amendment 603 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 40 – point a – point iii
Directive 2009/138/EC
Article 86 – paragraph 1 – point i – point iii
(iii) for each relevant asset class, the percentage of the spread that represents the portion attributable to a realistic assessment of expected losses or unexpected credit or other risks of the assets as referred to in Article 77d(3);deleted
2022/08/01
Committee: ECON
Amendment 609 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 41 – point a
Directive 2009/138/EC
Article 92 – paragraph 1a – subparagraph 1
1a. The Commission shall adopt delegated acts in accordance with Article 301a specifying the treatment of participations, within the meaning of Article 212(2), third subparagraph, in financial and credit institutions with respect to the determination of own funds, including: (i) approaches to deductions from the basic own funds of an insurance or reinsurance undertaking of material participations in credit and financial institutions; (ii) the market risk module to be applied by insurance and reinsurance undertakings and groups to the participations in credit and financial institutions pursuant to this Article.
2022/08/01
Committee: ECON
Amendment 626 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 43 a (new)
Directive 2009/138/EC
Article 105 a (new)
(1a) the following Article is inserted: ‘Article 105 a Long-term equity investments 1. A sub-set of equity investments may be treated as long-term equity investments if the insurance or reinsurance undertaking demonstrates, to the satisfaction of the supervisory authority, that all of the following conditions are met: (a) the sub-set of equity investments is clearly identified; (b) the sub-set of equity investment is included within a portfolio of assets which is assigned to cover the best estimate of a portfolio of insurance or reinsurance obligations corresponding to one or several clearly identified businesses, and the undertaking maintains that assignment; (c) the assigned portfolio of assets referred to in point (b) are identified and managed separately from the other activities of the undertaking; (d) a policy for long term investment management is set up for each long-term equity portfolio and reflects undertaking’s commitment to hold the global exposure to equity in the sub-set of equity investment for a period that exceeds 5 years on average. The administrative, management or supervisory board of the undertaking has signed off these investment management policies and these policies are frequently reviewed against the actual management of the portfolios. (e) the sub-set of equity investments consists only of equities that are listed in countries that are member of the OECD or of unlisted equities of companies that have their head offices in countries that are member of the OECD; (f) where undertakings can demonstrate that either particular Homogeneous Risk Groups (HRG) of the life insurance and reinsurance liabilities belongs to categories I or II as defined for the purpose of the calculation of the VA and the Macaulay duration of the liabilities in this HRG exceeds 5 years or a sufficient liquidity buffer is in place for the portfolio of non-life insurance and reinsurance liabilities and the assigned portfolio of assets; (g) the risk management, asset-liability management and investment policies of the insurance or reinsurance undertaking reflects the undertaking's intention to hold the sub-set of equity investments for a period that is compatible with the requirement of point (d) and its ability to meet the requirement of point (f). Those elements are reported in the Own Risk and Solvency Assessment (ORSA) of the undertakings; (h) the sub-set of equity investments shall be properly diversified in such a way as to avoid excessive reliance on any particular issuer or group of undertakings and excessive accumulation of risk in the portfolio as a whole. 2. The proportion of equity backing life technical provisions that is assigned to the long-term equity investment category does not exceed the proportion of life technical provisions compliant with the criteria specified in paragraph 1 on the total life technical provisions of the insurance or reinsurance undertaking. 3. Where equities are held within collective investment undertakings or within alternative investment funds the conditions laid down in paragraph 1 may be assessed at the level of the funds and not of the underlying assets held within those funds. 4. Insurance or reinsurance undertakings that treat a sub-set of equity investments as long- term equity investments in accordance with paragraph 1 shall not revert to an approach that does not include long-term equity investments. Where an insurance or reinsurance undertaking that treats a sub-set of equity investments as long-term equity investments is no longer able to comply with the conditions set out in paragraph 1, it shall immediately inform the supervisory authority and shall cease to apply Articles 169(1)(b), (2)(b), (3)(b) and (4)(b) to any of its equity investments for a period of 36 months; 5. Participations shall be excluded from the sub-set of equity investments. In addition to the proposed criteria EIOPA advises that, in cases where the allocation of equity to Long Term Equity (LTE) has a material impact on the overall SCR of the undertaking, enhanced reporting requirements should apply (e.g. through the Regular Supervisory Reporting) in addition to the regular reporting through ORSA established under criterion 1(h). Such requirements should focus on the assessment of the undertaking’s ability to effectively hold equity in the long term from a risk management perspective, as well as a sensitivity analysis of the impact of LTE on its solvency position. The capital requirement for long-term equity investments shall be equal to the loss in the basic own funds that would result from an instantaneous decrease equal to 22% in the value of investments that are treated as long-term equity.’
2022/08/01
Committee: ECON
Amendment 633 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 45
Directive 2009/138/EC
Article 109 – paragraph 1 – subparagraph 1 a (new)
Notwithstanding the first subparagraph, low-risk profile undertakings may use a simplified calculation for a specific sub- module or risk module.
2022/08/01
Committee: ECON
Amendment 644 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 46 – point b
Directive 2009/138/EC
Article 111 – paragraph 1 – subparagraph 2 a (new)
For the purpose of the first subparagraph, point (c), the methods, assumptions and standard parameters for the interest rate risk sub-module referred to in Article 105(5)(a) shall reflect the risk that low or negative interest rates may fall below their current level. By way of derogation from the previous sentence, the calculation of the interest rate risk sub-module shall not be required to take into account the risk of interest rates falling to levels below a negative floor where a negative floor can be determined such that the likelihood of interest rates across relevant currencies and across maturities not being at all times above the negative floor is sufficiently small. Having this in mind and in line with interest rates dynamics, the explicit floor identified should be increasing and term-dependent.
2022/08/01
Committee: ECON
Amendment 649 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 47
Directive 2009/138/EC
Article 112 – paragraph 7
(47) in Article 112, paragraph 7 is replaced by the following: ‘ 7. from supervisory authorities to use an internal model, and each time they report the result of a calculation of the Solvency Capital Requirement pursuant to Article 102(1), insurance and reinsurance undertakings shall provide the supervisory authorities with an estimate of the Solvency Capital Requirement determined in accordance with the standard formula, as set out in Subsection 2.; ’deleted After having received approval
2022/08/01
Committee: ECON
Amendment 655 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 48
Directive 2009/138/EC
Article 122 – paragraph 5
(48) in Article 122, the following paragraph 5 is added: ‘ 5. insurance and reinsurance undertakings to take into account the effect of credit spread movements on the volatility adjustment calculated in accordance with Article 77d in their internal model, only where: (a) the effect of credit spread movements on the volatility adjustment for the euro does not take into account a possible increase of the volatility adjustment by a macro volatility adjustment pursuant to Article 77d(4); (b) is not lower than any of the following: (i) Requirement calculated as the Solvency Capital Requirement, except that the effect of credit spread movements on the volatility adjustment is taken into account in accordance with the methodology used by EIOPA for the purposes of the publication of technical information pursuant to Article 77e(1), point (c); (ii) Requirement calculated in accordance with (i), except that the representative portfolio for a currency referred to in Article 77d(2), second subparagraph, is determined on the basis of the assets in which the insurance and reinsurance undertaking is investing instead of the assets of all insurance or reinsurance undertakings with insurance or reinsurance obligations denominated in that currency. For the purpose of the first subparagraph, point (b), the determination of the representative portfolio for a given currency shall be based on the undertaking’s assets dominated in that currency and used to cover the best estimate for insurance and reinsurance obligations denominated in that currency.; ’deleted Member States may allow the method to take into account the Solvency Capital Requirement a notional Solvency Capital a notional Solvency Capital
2022/08/01
Committee: ECON
Amendment 677 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 54
Directive 2009/138/EC
Article 144b – paragraph 3 – subparagraph 2
Such a power shall only be exercised in exceptional circumstances, as a last resort measure and where this is in the collective interest of policy holders. Before exercising such a power, the supervisory authority shall take into account potential unintended effects on financial markets and on the rights of policyholders, including in a cross-border context. Supervisory authorities shall duly justify the application of those powers in writing.
2022/08/01
Committee: ECON
Amendment 732 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 63
Directive 2009/138/EC
Article 213a – paragraph 1 – point e
(e) investments in non-traditional investments do not represent more than 230% of total investments;
2022/08/01
Committee: ECON
Amendment 740 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 64 – point b
Directive 2009/138/EC
Article 214 – paragraph 2 – subparagraph 2 – point ii
(ii) the exclusion of the undertaking from the scope of group supervision would have no material impact on the group solvency;deleted
2022/08/01
Committee: ECON
Amendment 743 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 64 – point c
Directive 2009/138/EC
Article 214 – paragraph 3 – subparagraph 2
Before excluding the ultimate parent undertaking from group supervision pursuant to paragraph 2, point (b), the group supervisor shall consult EIOPA, and where applicable, other supervisory authorities concerned, and shall assess the impact of exercising group supervision at the level of an intermediate participating undertaking on the solvency position of the group. In particular, such an exclusion shall not be possible if it would result in a material improvement in the solvency position of the group.;
2022/08/01
Committee: ECON
Amendment 749 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 70
Directive 2009/138/EC
Article 228 – paragraph 1 – introductory part
1. Irrespective of the method used in accordance with Article 220 of this Directive, for the purpose of calculating the group solvency, when participations in related undertakings from other financial sectors represent 20% or more of the voting rights or capital of the undertaking, the participating insurance or reinsurance undertaking shall take into account the contribution to the group eligible own funds and to the group Solvency Capital Requirement of the following undertakings:
2022/08/01
Committee: ECON
Amendment 754 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 70
Directive 2009/138/EC
Article 228 – paragraph 5 a (new)
5a. For participations in related undertakings from other financial sectors different to those referred to in paragraph 1, participating undertakings shall apply a capital requirement according to a market risk module approach.
2022/08/01
Committee: ECON
Amendment 780 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 90
Directive 2009/138/EC
Article 304 – paragraph 1
1. Member States may authorise life insurance undertakings providing: (a) occupational retirement provision business in accordance with Article 4 of Directive 2003/41/EC, or (b) retirement benefits paid by reference to reaching, or the expectation of reaching, retirement where the premiums paid for those benefits have a tax deduction which is authorised to policy holders in accordance with the national legislation of the Member State that has authorised the undertaking; where (i) all assets and liabilities corresponding to the business are ring-fenced, managed and organised separately from the other activities of the insurance undertakings, without any possibility of transfer; (ii) the activities of the undertaking related to points (a) and (b), in relation to which the approach referred to in this paragraph is applied, are pursued only in the Member State where the undertaking has been authorisedand reinsurance undertakings where: (i) the average duration of the liabilities corresponding to the business held by the undertaking exceeds eight years; and (iii) the average duration of the liabilities corresponding to the business held by the undertaking exceeds an average of 12 years; to apply an equity risk sub-module of the Solvency Capital Requirement, which is calibrated using a Value-at-Risk measure, over a time period, which is consistent with the typical holding period of equity investments for the undertaking concerned, with a confidence level providing the policy holders and beneficiaries with a level of protection equivalent to that set out in Article 101, where the approach provided for in this Article is used only in respect of those assets and liabilities referred in point (i) of this paragraph. In the calculation of the Solvency Capital Requirement those assets and liabilities shall be fully considered for the purpose of assessing the diversification effects, without prejudice to the need to safeguard the interests of policy holders and beneficiaries in other Member States. Subject to the approval of the supervisory authorities, the approach set out in the first subparagraph shall be used only where the solvency and liquidity position as well as the strategies, processes and reporting procedures of the undertaking concerned with respect to asset–liability management are such as to ensure, on an ongoing basis, that it is able to hold equity investments for a period which is consistent with the typical holding period of equity investments for the undertaking concerned. The undertaking shall be able to demonstrate to the supervisory authority that that condition is verified with the level of confidence necessary to provide policy holders and beneficiaries with a level of protection equivalent to that set out in Article 101. Insurance and reinsurance undertakings shall not revert to applying the approach set out in Article 105, except in duly justified circumstances and subject to the approval of the supervisory authorities. (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02009L0138-20210630)" Or. en
2022/08/01
Committee: ECON
Amendment 781 #

2021/0295(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 90
Directive 2009/138/EC
Article 304 – paragraph 2
2. As of [OP please insert date = date of application of this amending Directive] life insurance undertakings may continue to apply the approach referred to in paragraph 1 of this Article only in respect of assets and liabilities to which supervisory authorities approved the application of the duration-based equity sub-module before [OP please insert date = application date of this amending Directive].;deleted
2022/08/01
Committee: ECON
Amendment 309 #

2021/0250(COD)

Proposal for a directive
Recital 49
(49) For the purposes of greater transparency and accountability and to increase awareness with regard to their activities, FIUs should issue activity reports on an annual basis. These reports should at least provide statistical data in relation to the suspicious transaction reports received, the number of disseminations made to national competent authorities, the number of requests submitted to and received by other FIUs as well as, information on trends and typologies identified as well as requests submitted to and received from competent authorities, Europol and EPPO. This report, should be made public except for the elements which contain sensitive and classified information. At least once annually, the FIU should provide each obliged entities with feedback on the quality of suspicious transaction reports, their timeliness, the description of suspicion and any additional documents provided. Such feedback canshould be provided to individual obliged entities or groups of obliged entities, depending on the sector, and should aim to further improve the obliged entities’ ability to detect and identify suspicious transactions and activities and enhance the overall reporting mechanisms. In case of legal disputes involving obliged entities and relating to suspicious transaction reporting, the obliged parties may, in their defence in the context of the sanctioning procedure, provide evidence of the feedback received from the FIU concerning previous filing of reports characterised by the same elements of suspicion.
2022/06/27
Committee: ECONLIBE
Amendment 391 #

2021/0250(COD)

Proposal for a directive
Article 7 – paragraph 1 – subparagraph 1
To that end, the Commission shall, at the latest by [43 years after the date of transposition of this Directive], draw up a report identifying, analysing and evaluating those risks at Union level. Thereafter, the Commission shall update its report every fourtwo years. The Commission may update parts of the report more frequently, if appropriate.
2022/06/27
Committee: ECONLIBE
Amendment 481 #

2021/0250(COD)

Proposal for a directive
Article 10 – paragraph 3 – point a
(a) a statement by the legal entity accompanied by a justification and supporting documents, that there is no beneficial owner or that the beneficial owner(s) could not be identified and verif; identified pursuant to Articles 42and 43 of the [AML Regulation]. These documents shall be available to obliged entitieds;
2022/06/27
Committee: ECONLIBE
Amendment 510 #

2021/0250(COD)

Proposal for a directive
Article 10 – paragraph 6
6. Member States shall require that the reporting of discrepancies referred to in paragraph 5 takes place within 14 calendar days after detecting the discrepancy. In cases of lower risk to which measures under Section 3 of Chapter III of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation] apply, Member States may allow obliged entities to request the customer to rectify discrepancies of a technical nature that do not hinder the identification of the beneficial owner(s) directly with the entity in charge of the central registersas soon as practically possible but no later than 30 working days after detecting the discrepancy.
2022/06/27
Committee: ECONLIBE
Amendment 515 #

2021/0250(COD)

Proposal for a directive
Article 10 – paragraph 7
7. Member States shall ensure that the entity in charge of the central registers takes appropriate actions to cease the discrepancies, including amending the information included in the central registers where the entity is able to identify and verify the beneficial ownership information within 30 working days at the latest. A specific mention of the fact that there are discrepancies reported shall be included in the central registers and visible at least to competent authorities and obliged entities.
2022/06/27
Committee: ECONLIBE
Amendment 522 #

2021/0250(COD)

8. In the case of corporate and other legal entities and, where the trustee is an obliged entity as listed in Article, point (3)(a), (b) or (c) of Regulation[please insert reference - proposal for Anti- Money Laundering Regulation - COM/2021/420 final], legal arrangements, Member States shall ensure that the entity in charge of the central beneficial ownership register is empowered to carry out checks, including on-site investigations, at the premises or registered office of the legal entity, in accordance with national law, or at the premises of the legal entities’ representatives in the Union in order to establish the current beneficial ownership of the entity and to verify that the information submitted to the central register is accurate, adequate and up-to- date. The right of the central register to verify such information shall not be restricted, obstructed or precluded in any manner and the central register shall be empowered to request information from other entities, including in other Member States and third countries, in particular through the establishment of cooperation agreements.
2022/06/27
Committee: ECONLIBE
Amendment 763 #

2021/0250(COD)

Proposal for a directive
Article 21 – paragraph 2 – introductory part
2. Member States shall ensure that FIUs provide obliged entities with feedback on the reports of suspected money laundering or terrorist financing in time and frequency adapted to the complexity of the entities. Such feedback shall cover at least the quality of the information provided, the timeliness of reporting, the description of the suspicion and the documentation provided at submission stage.
2022/06/27
Committee: ECONLIBE
Amendment 769 #

2021/0250(COD)

Proposal for a directive
Article 21 – paragraph 2 – subparagraph 1 a (new)
In case of legal disputes involving obliged entities and relating to suspicious transaction reporting, the obliged parties may, in their defence in the context of the sanctioning procedure, provide evidence of the feedback received from the FIU concerning previous filing of reports characterised by the same elements of suspicion.
2022/06/27
Committee: ECONLIBE
Amendment 923 #

2021/0250(COD)

Proposal for a directive
Article 42 – paragraph 1 – introductory part
1. Member States shall ensure that a decision imposing an administrative sanction or measure for breach of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] against which there is no appeal shall be published by the supervisors on their official website immediately after the person sanctioned is informed of that decision. The publication shall include at least information on the type and nature of the breach and the identity of the persons responsible. Member States shall not be obliged to apply this subparagraph to decisions imposing measures that are of an investigatory nature.
2022/06/27
Committee: ECONLIBE
Amendment 21 #

2021/0248(COD)

Proposal for a regulation
Article 18 – paragraph 1 – point 3
(3) Total catch of the key species listed in Article 15.
2022/04/04
Committee: PECH
Amendment 23 #

2021/0248(COD)

Proposal for a regulation
Article 27 – paragraph 1 – point 3
(3) Total catch of the key species listed in Article 24.
2022/04/04
Committee: PECH
Amendment 24 #

2021/0248(COD)

Proposal for a regulation
Article 28 – paragraph 1
1. Member States may designate additional spatial or temporal restrictions to those already existing where fishing activities may be banned or restricted in order to protect aggregation areas of juveniles of the key species listed in Article 24.
2022/04/04
Committee: PECH
Amendment 25 #

2021/0248(COD)

Proposal for a regulation
Article 29 – paragraph 1
Without prejudice to Article 14 of Regulation (EC) No 1224/2009, fishers or masters of authorised fishing vessels actively fishing within the scope of this section shall declare all catches and bycatch of the key species listed in Article 24, irrespective of the volume of the catch.
2022/04/04
Committee: PECH
Amendment 26 #

2021/0248(COD)

Proposal for a regulation
Article 31 – paragraph 1
Notwithstanding Article 9 of Regulation (EC) No 1224/2009, all vessels above 10 metres LOA actively fishing within the scope of this section shall be equipped with a VMS or another geo-spatial positioning system.
2022/04/04
Committee: PECH
Amendment 28 #

2021/0248(COD)

Proposal for a regulation
Article 37 – paragraph 1 – point 3
(3) Total catch of the key species listed in Article 33.
2022/04/04
Committee: PECH
Amendment 30 #

2021/0248(COD)

Proposal for a regulation
Article 38 – paragraph 1
1. Member States may designate additional spatial or temporal restrictions to those already existing where fishing activities may be banned or restricted in order to protect aggregation areas of juveniles of the key species listed in Article 33.
2022/04/04
Committee: PECH
Amendment 33 #

2021/0248(COD)

Proposal for a regulation
Article 60 – paragraph 1
1. Member States shall adopt fisheries management measures or national management plans under the scope of this section to ensure that the exploitation levelssufficient levels of conservation of demersal stocks, in particular European hake and deep-water rose shrimp, reach and maintain MSY.
2022/04/04
Committee: PECH
Amendment 34 #

2021/0248(COD)

Proposal for a regulation
Article 61 – paragraph 1
1. Member States may designate additional spatial or temporal restrictions to those already established where fishing activities may be banned or restricted in order to protect spawning and nursery areas of the juveniles of the species listed in Article 59.
2022/04/04
Committee: PECH
Amendment 35 #

2021/0248(COD)

Proposal for a regulation
Article 69 – paragraph 1 – point a
(a) close the coastal zone, irrespective of depth, out to six nautical miles, or four nautical miles for vessels not allowed to fish beyond six nautical miles, to towed gear targeting demersal stocks, for a continuous period of at least eight weeks on an annual basis; or
2022/04/04
Committee: PECH
Amendment 36 #

2021/0248(COD)

Proposal for a regulation
Article 69 – paragraph 1 – point b
(b) set a closure of at least 30 continuous days on an annual basis and covering at least 20 percent of territorial waters for fishing activities with otter- trawling, beam- trawling, bottom pair trawling and otter twin trawls, irrespective of their overall length in the areas and periods recognized by Member States as important for the protection of juveniles of demersal stocks, and accounting for migration routes and spatial patterns of juvenile distribution.
2022/04/04
Committee: PECH
Amendment 37 #

2021/0248(COD)

1. Member States shall adopt fisheries management measures or national management plans within the scope of this section in order to ensure thasufficient exploitation levels of demersal stocks, in particular European hake, Norway lobster, common sole, deep- water rose shrimp and red mullet, reach and maintain MSY.
2022/04/04
Committee: PECH
Amendment 37 #

2021/0240(COD)

Proposal for a regulation
Recital 17
(17) In order to ensure that only the riskiest obliged entities among those with significant cross-border operations are supervised directly at the level of the Union, the assessment of their inherent risk should be harmonised. Currently, there are various national approaches and supervisory authorities use distinct benchmarks for assessment and classification of inherent ML/TF risk of obliged entities. Using these national methodologies for selection of entities for direct supervision at Union level could lead to a different playing field among them. Therefore, the Authority should be empowered to develop regulatory technical standards laying out a harmonised methodology and benchmarks for categorising the inherent ML/TF risk as low, medium, substantial, or high. The methodology should be tailored to particular types of risks and therefore should follow different categories of obliged entities which are financial institutions in accordance with the Regulation of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing [OP please insert the next number for COM(2021)420]. That methodology should be sufficiently detailed and should establish specific quantitative and qualitative benchmarks considering at least the risk factors related to types of customers served, products and services offered, period of activity and geographical areas, including third country jurisdictions that obliged entities operate in or are related to. Specifically, each assessed obliged entity would have its inherent risk profile classified in each Member State where it operates in a manner consistent with the classification of any other obliged entity in the Union. The quantitative and qualitative benchmarks would allow such classification to be objective and not dependent on the discretion of a given supervisory authority in a Member State, or the discretion of the Authority.
2022/03/09
Committee: BUDG
Amendment 149 #

2021/0239(COD)

(14) Directive (EU) 2015/849 set out to mitigate the money laundering and terrorist financing risks posed by large cash payments by including persons trading in goods among obliged entities when they make or receive payments in cash above EUR 10 000, whilst allowing Member States to introduce stricter measures. Such approach has shown to be ineffective in light of the poor understanding and application of AML/CFT requirements, lack of supervision and limited number of suspicious transactions reported to the FIU. In order to adequately mitigate potential risks deriving from the misuse of large cash sums, a Union-wide limit to large cash transactions above EUR 10 .000 should be laid down, and in order to protect the fundamental rights and social inclusion of vulnerable users who have difficulties with electronic payments, such as the elderly and people with disabilities, a minimum limit of EUR 5,000 for cash payments should be ensured. As a consequence, persons trading in goods should no longer be subject to AML/CFT obligations.
2022/07/04
Committee: ECONLIBE
Amendment 210 #

2021/0239(COD)

Proposal for a regulation
Recital 60 a (new)
(60a) Business relationships and transactions involving high-net-worth individuals who present one or several factors of higher risk could seriously compromise the integrity of the Union’s financial system and cause serious vulnerabilities in the internal market. Obliged entities may therefore assess to apply enhanced customer due diligence measures as laid down in this Regulation with respect to those individuals.
2022/07/04
Committee: ECONLIBE
Amendment 221 #

2021/0239(COD)

Proposal for a regulation
Recital 65
(65) Detailed rules should be laid down to identify the beneficial owners of corporate and other legal entities and to harmonise definitions of beneficial ownership. While a specified percentage shareholding or ownership interest does not automatically determine the beneficial owners, it should be one factor among others to be taken into account. Member States should be able, however, to decide that a percentage lower than 25% plus one of the shares or voting rights, may be an indication of ownership or control. Control through ownership interest of 25% plus one of the shares or voting rights or other ownership interest should be assessed on every level of ownership, meaning that this threshold should apply to every link in the ownership structure and that every link in the ownership structure and the combination of them should be properly examined.
2022/07/04
Committee: ECONLIBE
Amendment 242 #

2021/0239(COD)

Proposal for a regulation
Recital 94
(94) The use of large cash payments is highly vulnerable to money laundering and terrorist financing; this has not been sufficiently mitigated by the requirement for traders in goods to be subject to anti- money laundering rules when making or receiving cash payments of EUR 10 000 or more. At the same time, differences in approaches among Member States have undermined the level playing field within the internal market to the detriment of businesses located in Member States with stricter controls. It is therefore necessary to introduce a Union-wide limit to large cash payments of EUR 10 000. Member States should be able to adopt lower thresholds and further stricter provisions, but in order to protect the fundamental rights and social inclusion of vulnerable users who have difficulties with electronic payments, such as the elderly and people with disabilities, a minimum limit of EUR 5000 for cash payments should be ensured.
2022/07/04
Committee: ECONLIBE
Amendment 301 #

2021/0239(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 25 – point c – point i
(i) functions at the level of Union institutions and bodies that are equivalent to those listed in points (a)(i), (ii), (iv), (v) and (vi) and Directors-General of the European institutions;
2022/07/04
Committee: ECONLIBE
Amendment 308 #

2021/0239(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 27 a (new)
(27a) high-net-worth individual’ means a natural person who owns at least EUR 50 million or the equivalent in national currency in liquid financial assets
2022/07/04
Committee: ECONLIBE
Amendment 337 #

2021/0239(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 3 – point d
(d) estate agents, including when acting as intermediaries in the letting of immovable property for transactions for which the monthly rent amounts to at least EUR 10 000 or more, or the equivalent in national currency or other accepted form of payment;
2022/07/04
Committee: ECONLIBE
Amendment 348 #

2021/0239(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 3 – point i
(i) persons trading or acting as intermediaries in the trade of works of art, including when this is carried out by art galleries and auction houses, where the value of the transaction or linked transactions amounts to at least EUR 100 000 or the equivalent in national currency or other accepted form of payment;
2022/07/04
Committee: ECONLIBE
Amendment 706 #

2021/0239(COD)

Proposal for a regulation
Article 36 a (new)
Article 36a Specific provisions regarding certain high-net-worth individuals In addition to the customer due diligence measures laid down in Article 16, obliged entities shall have in place appropriate risk management systems, including risk- based procedures, to determine whether a customer or the beneficial owner of a customer is a high net-worth individual who also presents any of the higher risk factors set out in Annex III.2. With respect to transactions or business relationships with high-net worth individuals as referred to in paragraph 1, obliged entities may apply, according to the risk based approach, the following measures: (a) obtain senior management approval for establishing business relationships with those customers ; (b) take adequate measures to establish the source of wealth and source of funds that are involved in business relationships or transactions with those customers ; (c) conduct enhanced, ongoing monitoring of business relationships with those customers.
2022/07/05
Committee: ECONLIBE
Amendment 756 #

2021/0239(COD)

Proposal for a regulation
Article 42 – paragraph 1 – subparagraph 1
For the purpose of this Article, where ‘control through an ownership interest’ is based on a threshold, it shall mean an ownership of 25% plus one of the shares or voting rights or other ownership interest in the corporate entity, including through bearer shareholdings,level of ownership in the corporate entity on every level of ownership.
2022/07/05
Committee: ECONLIBE
Amendment 924 #

2021/0239(COD)

Proposal for a regulation
Article 59 – paragraph 1
1. Persons trading in goods or providing services may accept or make a payment in cash only up to an amount of EUR 10 000 Union-wide limit or equivalent amount in national or foreign currency, whether the transaction is carried out in a single operation or in several operations which appear to be linked, and in order to protect the fundamental rights and social inclusion of vulnerable users who have difficulties with electronic payments, such as the elderly and people with disabilities, a minimum limit of EUR 5,000 for cash payments should be ensured.
2022/07/05
Committee: ECONLIBE
Amendment 934 #

2021/0239(COD)

Proposal for a regulation
Article 59 – paragraph 2
2. Member States may adopt lower limits following consultation of the European Central Bank in accordance with Article 2(1) of Council Decision 98/415/EC57 . Those lower limits shall be notified to the Commission within 3 months of the measure being introduced at national level. In order to protect the fundamental rights and social inclusion of vulnerable users who have difficulties with electronic payments, such as the elderly and people with disabilities, a minimum limit of EUR 5,000 for cash payments should be ensured. _________________ 57 Council Decision of 29 June 1998 on the consultation of the European Central Bank by national authorities regarding draft legislative provisions (OJ L 189, 3.7.1998, p. 42).
2022/07/05
Committee: ECONLIBE
Amendment 19 #

2021/0214(COD)

Proposal for a regulation
Recital 13 a (new)
(13a) The additional revenue should be used to support the European economy's green transition and the competitiveness of its exports. It should be allocated directly to Member States for redistribution to European industries, taking a sectoral approach, with a view to financing decarbonisation efforts in the sectors covered by the CBAM and the deployment of low-carbon technologies.
2022/02/18
Committee: BUDG
Amendment 34 #

2021/0214(COD)

Proposal for a regulation
Recital 60 a (new)
(60a) The Member State authorities responsible for implementing the CBAM and the EU institutions that manage the EU budget should uphold the principle of sincere mutual cooperation when it comes to levying, collecting and making revenue available.
2022/02/18
Committee: BUDG
Amendment 26 #

2021/0213(CNS)

Proposal for a directive
Recital 23
(23) Fuel used for waterborne navigation, includingexcluding fuel used for professional fishing, should also be taxed, and the Member States party to international agreements providing for the exemption of that fuel, have to, by the date of the application of this Directive, ensure they eliminate the incompatibilities. It is necessary to allow for a different level of taxation to be applied to the use of energy products and electricity for intra-EU waterborne regular service navigation, fishing and freight transport and their respective at berth activities. Considering the specificity of those uses, the minimum levels of taxation should be lower than the ones applicable to general motor fuel use. In order to provide an incentive to the use of sustainable alternative fuels and electricity, such fuels and electricity should be exempted from taxation for ten years. Energy products and electricity used for the remaining intra-EU waterborne navigation should be subject to the standard levels of taxation applicable to motor fuels and electricity in the Member States.
2022/02/17
Committee: PECH
Amendment 43 #

2021/0213(CNS)

Proposal for a directive
Recital 36
(36) Every five years and for the first time five years after the entry into force of this Directive, the Commission should report to the Council on the application of this Directive, examining in particular the minimum levels of taxation, the impact of innovation and technological developments, especially as regards energy efficiency, the socioeconomic impact on the sectors concerned, the use of electricity in transport and the justification for the exemptions, reductions and differentiations laid down in this Directive. The report should take into account the proper functioning of the internal market, environmental and social considerations, the real value of the minimum levels of taxation and the wider relevant objectives of the Treaties.
2022/02/17
Committee: PECH
Amendment 51 #

2021/0213(CNS)

Proposal for a directive
Article 15 – paragraph 2
2. Member states may exempt or apply the same levels of taxation applied for intra-EU waterborne navigation, including fishing, to extra-EU waterborne navigation according to the type of activity.
2022/02/17
Committee: PECH
Amendment 280 #

2021/0191(COD)

Proposal for a regulation
Recital 11
(11) Article 4 of Regulation (EU) 2020/852 requires Member States and the Union to apply the criteria set out in Article 3 of that Regulation to determine whether an economic activity qualifies as environmentally sustainable for the purposes of any measure setting out requirements for financial market participants or issuers in respect of financial products or corporate bonds that are made available as environmentally sustainable. It is therefore logical that the technical screening criteria referred to in Article 3, point (d), of Regulation (EU) 2020/852 should determine which fixed assets, expenditures and financial assets can be financed by the proceeds of European green bonds. In view of the expected technological progress in the field of environmental sustainability, the delegated acts adopted pursuant to Articles 10(3), 11(3), 12(2), 13(2), 14(2) or 15(2) of Regulation (EU) 2020/852 are likely to be reviewed and amended over time. Regardless of such changes, in order to provide legal certainty to issuers and investors and prevent amendments to the technical screening criteria from having a negative impact on the price of European green bonds that have already been issued, issuers should be able to apply the technical screening criteria applicable at the moment the European green bond was issued when allocating the proceeds of such bonds to eligible fixed assets or expenditures, until maturity of the bond. To ensure legal certainty for European green bonds whose proceeds are allocated to financial assets, it is necessary to clarify that the underlying economic activities funded by those financial assets should comply with the technical screening criteria applicable at the moment the financial assets were created. Where the relevant delegated acts are amended, the issuer should allocate proceeds by applying the amended delegated acts within five years.
2022/01/20
Committee: ECON
Amendment 375 #

2021/0191(COD)

Proposal for a regulation
Article 6 – paragraph 2 a (new)
2a. In order to allow flexibility in the destination of the proceeds, up to 20% amount of the proceeds, could be allocated to not taxonomy aligned activities that do not comply with all the TSC and DNSH criteria as established in a delegated act of the Commission, The information on the proceeds that would be allocated to not taxonomy aligned activities will be evidenced in the annual allocation report under the supervision of an independent verifier.
2022/01/20
Committee: ECON
Amendment 382 #

2021/0191(COD)

Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 2
Where the delegated acts adopted pursuant to Articles 10(3), 11(3), 12(2), 13(2), 14(2) or 15(2) of Regulation (EU) 2020/852 are amended following the issuance of the bond, the issuer shall allocate bond proceeds to the uses referred to in the first subparagraph by applying the amended delegated acts within five years after their entry into application.
2022/01/20
Committee: ECON
Amendment 391 #

2021/0191(COD)

Proposal for a regulation
Article 7 – paragraph 2 – subparagraph 3
Where the delegated acts adopted pursuant to Articles 10(3), 11(3), 12(2), 13(2), 14(2) or 15(2) of Regulation (EU) 2020/852 are amended following the creation of the debt referred to in the first subparagraph, the issuer shall allocate bond proceeds to the debt referred to in the first subparagraph by applying the amended delegated acts within five years after their entry into applicationpply the delegated acts adopted pursuant to Articles 10(3), 11(3), 12(2), 13(2), 14(2) or 15(2) of Regulation (EU) 2020/852 applicable at the point in time when the debt was created.
2022/01/20
Committee: ECON
Amendment 397 #

2021/0191(COD)

Proposal for a regulation
Article 7 – paragraph 2 a (new)
2a. Where a European green bond refinances a previously issued European green bond as referred to in Article 4(3), the delegated acts referred to in paragraph 2 shall be those applicable at the point in time when the debt was created.
2022/01/20
Committee: ECON
Amendment 5 #

2020/2273(INI)

Draft opinion
Recital A
A. whereas EU fishing, aquaculture and processing sectors subscribe to the highest standards of environmental and social sustainability throughout the entire value chain, including labour rights and animal health and welfare, and provide high-quality seafood products, thus playing a fundamental role in food security and nutritional wellbeing to an ever increasing population; whereas by restricting fishing, a number of UN Sustainable Development Goals (SDGs) and two pillars of the CFP, namely social and economic sustainability, are jeopardised;
2021/01/27
Committee: PECH
Amendment 15 #

2020/2273(INI)

Draft opinion
Recital B
B. whereas EU fishers and fish farmers play an essential role across the Union in safeguarding territorial identity, cultural traditions, food security, jobs and incomes and must continue providing social and economic support to many coastal , riparian, island, inland and lakeside communities;
2021/01/27
Committee: PECH
Amendment 50 #

2020/2273(INI)

Draft opinion
Paragraph 1 a (new)
1a. Emphasises that managing protected marine areas in a manner consistent with the needs of the fishers who traditionally operate in the areas concerned is more efficient and brings benefits for biodiversity;
2021/01/27
Committee: PECH
Amendment 54 #

2020/2273(INI)

Draft opinion
Paragraph 1 b (new)
1b. Emphasises the importance of managing MPAs on the basis of integrated policies which focus on both the sea and coastlines, monitoring areas of particular natural importance or interest and, at the same time, protecting and safeguarding in a sustainable manner the economic and social fabric of the territories in question;
2021/01/27
Committee: PECH
Amendment 74 #

2020/2273(INI)

Draft opinion
Paragraph 4
4. Considers that strengthening and efficiently implementing existing closed areas or, where necessary, stepping up checks in those areas, would be much more efficient and meaningful;
2021/01/27
Committee: PECH
Amendment 103 #

2020/2273(INI)

Draft opinion
Paragraph 7
7. Stresses the importance of proper and inclusive spatial planning, which takes sufficiently into account the sustainable development of fisheries and aquaculture, giving priority to the most vulnerable and socially disadvantaged and pointing to the need for allocating space to existing and new fishing grounds and aquaculture farms;
2021/01/27
Committee: PECH
Amendment 127 #

2020/2273(INI)

Draft opinion
Paragraph 11
11. Expresses its deep regret over the obvious discriminatory treatment of fisheries compared to that of agriculture; welcomes the fact the proposed strategy outlines that ‘the progress towards the targets will be under constant review, and adjustment if needed, to mitigate against undue impact on biodiversity, food security and farmers’ competitiveness’; notes, however, that this sentence, which is a necessary safety net, is clearly discriminatory since it fails to mention fishers and aquaculture producers; notes, further, that individual operators have suffered discriminatory treatment compared to that of farmers as regards access to specific forms of financial support;
2021/01/27
Committee: PECH
Amendment 136 #

2020/2273(INI)

Draft opinion
Paragraph 12
12. Strongly denounces the excessive focus on fishing and its connection with the failure to achieve the good ecological status in marine ecosystems and the lack of consideration given to other sources of pressure and degradation, such as oil, gas, dredging or shipping, the impact of activities on land and, not least, the rise in water temperatures, all of which impose stresses on ecosystems and fish stocks;
2021/01/27
Committee: PECH
Amendment 152 #

2020/2273(INI)

Draft opinion
Paragraph 14
14. Stresses that gears and techniques should not be demonised; recalls that bottom trawling can also enhance biodiversity in certain sandy seabeds and that it is one of the most common and most regulated fishing gears in Europe; stresses that it is the only viable way to catch many key species that we eat, such as all demersal species, catches of which are regulated at EU level, and that almost all of them are fished at MSY levels and that many of them are Marine Stewardship Council certified;
2021/01/27
Committee: PECH
Amendment 158 #

2020/2273(INI)

15. Highlights the need to simplify administrative procedures on aquaculture and fishing activities, especially when in Natura 2000 areas, with a view to ensuring that no additional costs and administrative burdens are imposed on fishing undertakings, and asks the Commission to update its guidance on ‘Aquaculture and Natura 2000 areas’;
2021/01/27
Committee: PECH
Amendment 173 #

2020/2273(INI)

Draft opinion
Paragraph 19
19. Stresses the importance of adequate funding through the European Maritime and Fisheries Fund and aquaculture policy in order to achieve the EU’s goals on biodiversity and ensure that the financial burden does not fall on fishers;
2021/01/27
Committee: PECH
Amendment 176 #

2020/2273(INI)

Draft opinion
Paragraph 19 a (new)
19a. Calls for EU funding for the fishing industry to be used to improve the resilience and economic stability of fishing enterprises, in particular traditional coastal fleets and small-scale fishers, by providing better access to credit, micro-financing, insurance and investment; emphasises the need to ensure that individual Member States are able to decide on the percentage of EU funding to be used for that purpose;
2021/01/27
Committee: PECH
Amendment 177 #

2020/2273(INI)

Draft opinion
Paragraph 19 b (new)
19b. Points out that the key objectives of the Biodiversity Strategy for 2030 are also valid for agreements with third countries and that partnership agreements of this kind should therefore be revised accordingly;
2021/01/27
Committee: PECH
Amendment 195 #

2020/2273(INI)

Draft opinion
Paragraph 23
23. Emphasises the importance of ensuring an adequate and fair income to fishers and farmers, as well as a level playing field with imported food; points out that stricter standards on the traceability of fishery products could help to achieve that aim;
2021/01/27
Committee: PECH
Amendment 23 #

2020/2263(INI)

Motion for a resolution
Paragraph 1
1. Observes that on average the standard rate was applied to 71% of the total tax base in the Member States in 2019; that the taxable base at the standard VAT rate varied from 97% (BG) to 47% (ES); that on average, the VAT gap is 10% in the EU but that it varies greatly from Member State to Member State20; that the number of reduced and super-reduced rates varies between Member States; that only five Member States21continue to apply super-reduced rates; that only Denmark does not apply reduced rates; _________________ 20From 33% in RO as far down to 1% in SE and HR. 21FR, IE, IT, LU and ES as of 1 January 2021.
2021/10/21
Committee: ECON
Amendment 31 #

2020/2263(INI)

Motion for a resolution
Paragraph 2
2. Notes that simplifying VAT with the introduction of a single rate and revenue neutrality could reduce the standard rate in the EU by an average of 7%, thus bringing the standard rate down from 13% to 2%;
2021/10/21
Committee: ECON
Amendment 38 #

2020/2263(INI)

Motion for a resolution
Paragraph 3
3. Takes the view that applying a multitude of reduced rates aggravates the complexity and opacity of the tax system, facilitates fraud and incMember States should be able to continue to use reduced rates to combat poverty, support disadvantaged production sectors and assist economically depreasses compliance costd geographical areas;
2021/10/21
Committee: ECON
Amendment 76 #

2020/2263(INI)

Motion for a resolution
Paragraph 10
10. Observes that the application of reduced rates does not systematically give rise to permanent price reductions for the consumer; that the effectiveness of a reduced rate depends on a number of factors, such as the extent to which businesses pass it on to consumers, its duration over time, the size of the reduction and the complexity of the rate system; that the passing-on of reductions in their entirety is therefore a random process and should not be the basis for policy-making; that it is impossible to target low-income household, while it is it is impossible to target low-income households, it is still necessary to maintain reduced rates for basic necessities;
2021/10/21
Committee: ECON
Amendment 91 #

2020/2263(INI)

Motion for a resolution
Paragraph 12
12. Stresses that reduced rates are not an effective way of achieving social or environmental objectives since they incur high costs for governments owing to the size of the rate gap, reduced tax revenues, increased administrative costs, costly checks and inspections, pressure from lobby groups, compliance costs, economic distortions or even tax evasion, and the difficulty of reaching the target groups;deleted
2021/10/21
Committee: ECON
Amendment 101 #

2020/2263(INI)

Motion for a resolution
Paragraph 13
13. Takes the view that direct tax incentives, such as direct grants or tax credits targeting specific consumers and producers, are more effective, flexible, visibletogether with reduced rates, are tools that are just as efficacious and cost- effective tools forin achieving these social and environmental objectives;
2021/10/21
Committee: ECON
Amendment 117 #

2020/2263(INI)

Motion for a resolution
Paragraph 16
16. Endorses the findings of the DIW Econ study which stresses that on average the standard rate was applied to 71% of the total tax base in the Member States in 2019; points out that diversified VAT systems impose costs on businesses, particularly SMEs via increased compliance costs, create distortions in the internal market and trade, and incur costs on government through lost revenue; adds that reduced rates are an insufficient means of achieving revenue-distribution or environmental objectives;
2021/10/21
Committee: ECON
Amendment 125 #

2020/2263(INI)

Motion for a resolution
Paragraph 17
17. Notes the difficulties in reducing the VAT gap between Member States owing to the need to maintain a number of VAT exemptions for certain goods and services and the willingness of Member States to maintain reduced rates of at least 54%; acknowledges that Member States need to conserve the flexibility to set their own VAT rates given the importance of this tax as a budgetary instrument;
2021/10/21
Committee: ECON
Amendment 36 #

2020/2260(INI)

Draft opinion
Recital A a (new)
Aa. whereas the EU has adopted a Biodiversity Strategy for 2030;
2021/02/04
Committee: PECH
Amendment 43 #

2020/2260(INI)

Draft opinion
Recital A b (new)
Ab. whereas it is important to note the conclusions of the negotiations on the new EMFAF;
2021/02/04
Committee: PECH
Amendment 47 #

2020/2260(INI)

Draft opinion
Recital A c (new)
Ac. whereas it is important to note the proposal for a Regulation of the European Parliament and of the Council amending Regulation (EU) 1224/2009, (EC) No 768/2005, (EC) No 1967/2006 and Regulation (EU) No 2016/1139 of the European Parliament and of the Council as regards fisheries control (COM(2018)368);
2021/02/04
Committee: PECH
Amendment 56 #

2020/2260(INI)

Draft opinion
Recital A d (new)
Ad. whereas a holistic approach is needed for the different EU strategies and policies relating to the Farm to Fork Strategy;
2021/02/04
Committee: PECH
Amendment 59 #

2020/2260(INI)

Draft opinion
Recital A e (new)
Ae. whereas the general market concentration and large retailers’ tendency to conclude agreements that are at times unfair to primary producers have a negative impact on small-scale fishing;
2021/02/04
Committee: PECH
Amendment 64 #

2020/2260(INI)

Draft opinion
Recital A f (new)
Af. whereas small-scale fishers need financial aid and support in order to gain a foothold in new sectors of the market;
2021/02/04
Committee: PECH
Amendment 79 #

2020/2260(INI)

Draft opinion
Paragraph 1 a (new)
1a. Expresses its disappointment at the lack of coordination with the EU Biodiversity Strategy for 2030;
2021/02/04
Committee: PECH
Amendment 82 #

2020/2260(INI)

Draft opinion
Paragraph 1 b (new)
1b. Criticises the fact that the Commission has failed to acknowledge the important role of fishers as ‘guardians of the sea’ and the role of fisheries and aquaculture as key suppliers of healthy foods and proteins that would otherwise have to be imported;
2021/02/04
Committee: PECH
Amendment 92 #

2020/2260(INI)

Draft opinion
Paragraph 2
2. Stresses that promoting healthy and sustainable diets should privilege EU fisheries and aquaculture products, as they are an important source of protein and a crucial component of a healthy diet and also highlight the importance of recognising the value of the work of fishers and women in the sector, and of aquaculture;
2021/02/04
Committee: PECH
Amendment 101 #

2020/2260(INI)

Draft opinion
Paragraph 2 a (new)
2a. Stresses the important role that women play in processing, promoting and marketing the fish that is caught;
2021/02/04
Committee: PECH
Amendment 106 #

2020/2260(INI)

Draft opinion
Paragraph 2 b (new)
2b. Points out that European food products represent a high standard at global level in terms of quantity, safety and quality thanks to the efforts made by the entire industry, starting with fishers, producers in the aquaculture sector and farmers;
2021/02/04
Committee: PECH
Amendment 119 #

2020/2260(INI)

Draft opinion
Paragraph 3 a (new)
3a. Emphasises the importance, in this regard, of providing financial support for climate change mitigation and adaptation, including through new insurance and credit instruments;
2021/02/04
Committee: PECH
Amendment 120 #

2020/2260(INI)

Draft opinion
Paragraph 3 b (new)
3b. Points out, moreover, the importance of financial support for carrying out studies and research on the sustainable use of fisheries packaging;
2021/02/04
Committee: PECH
Amendment 129 #

2020/2260(INI)

Draft opinion
Paragraph 4 a (new)
4a. Stresses the importance of recognising territoriality when defining the objectives and measures to be implemented within the Strategy, and points out that the characteristics and distinctive features of fleets and fishing production in the EU vary from country to country and from territory to territory within the same state;
2021/02/04
Committee: PECH
Amendment 149 #

2020/2260(INI)

Draft opinion
Paragraph 5 a (new)
5a. Stresses, in the context of improving the value chain in the fisheries sector, that although primary producers play a key role in the value chain, they do not always benefit from the added value that is generated in its later stages;
2021/02/04
Committee: PECH
Amendment 156 #

2020/2260(INI)

Draft opinion
Paragraph 5 b (new)
5b. Hopes that the new Strategy will give rise to a new demographic that will contribute to territorial cohesion and the repopulation of coastal areas, in socio- economic harmony with the marine resource;
2021/02/04
Committee: PECH
Amendment 161 #

2020/2260(INI)

Draft opinion
Paragraph 6
6. Stresses the need to continue to promote the responsible exploitation of fisheries resources and to combat IUU fishing, not forgetting the socio-economic needs of coastal communities, and to combat IUU fishing through a zero tolerance policy and by strengthening the policy of sustainable fisheries agreements with non- EU countries for European vessels providing quality products;
2021/02/04
Committee: PECH
Amendment 181 #

2020/2260(INI)

Draft opinion
Paragraph 7
7. Underlines the importance of EMFAF in sustaining and modernising the sector, favouring generational renewal, and promoting the active participation of women, associations, including guilds (‘cofradías), producer organisations and the retail sector;
2021/02/04
Committee: PECH
Amendment 187 #

2020/2260(INI)

Draft opinion
Paragraph 7 a (new)
7a. Criticises, in this regard, the fact that the new EMFAF does not allow for the modernisation of obsolete boats in order to make them more environmentally sustainable;
2021/02/04
Committee: PECH
Amendment 191 #

2020/2260(INI)

Draft opinion
Paragraph 7 b (new)
7b. Calls for targeted measures and actions for projects and funding to be drawn up in order to make the Strategy’s tools for investment, research and innovation more accessible to the sector’s SMEs, small-scale fishers and actors in the supply chain;
2021/02/04
Committee: PECH
Amendment 198 #

2020/2260(INI)

Draft opinion
Paragraph 8
8. Recommends that appropriately funded dedicated campaigns aimed at consumers, which place a greater focus on diet, be launched to bolster fish consumption of healthy and fresh fish, starting with schools.
2021/02/04
Committee: PECH
Amendment 201 #

2020/2260(INI)

Draft opinion
Paragraph 8 a (new)
8a. Calls on the Commission and the Member States to support initiatives such as: (1) direct consultations with fisheries and support for networking; (2) training courses to encourage local fish consumption and respect for the seasonality of certain catches and synergies between the fishing and tourism industries; (3) creation of smaller and more specialised sales outlets; (4) preparation of a list of best practices.
2021/02/04
Committee: PECH
Amendment 211 #

2020/2260(INI)

Draft opinion
Paragraph 8 b (new)
8b. Calls for edible alien species to be commercially exploited, with the dual aim of using proteins that are available in the environment and reducing the pressure on traditionally fished stocks, such as the blue crab (Callinectes Sapidus), which is common in the Mediterranean.
2021/02/04
Committee: PECH
Amendment 58 #

2020/2223(INI)

Motion for a resolution
Paragraph 3
3. Considers that ensuring a level playing field for undertakings in the single market also depends on decisively and effectively combating social and fiscal dumping;
2021/02/03
Committee: ECON
Amendment 79 #

2020/2223(INI)

Motion for a resolution
Paragraph 5
5. Welcomes the adoption of a Temporary Framework for State aid measures established in response to the COVID-19 crisis and takes the view that it should be extended even beyond the end of the movement restrictions for citizens, in order to allow for medium- and long- term intervention in all sectors that might suffer a negative economic impact in the coming years, in particular for SMEs;
2021/02/03
Committee: ECON
Amendment 104 #

2020/2223(INI)

Motion for a resolution
Paragraph 6 a (new)
6a. Calls on the Commission to thoroughly assess the imbalances between Member States in the provision of State aid during the temporary regime, with regard to both the 2009 financial crisis and the current COVID-19 crisis; calls on the Commission to publish a historical report on the amount of State aid approved per country and per sector, with in-depth comparisons;
2021/02/03
Committee: ECON
Amendment 111 #

2020/2223(INI)

Motion for a resolution
Paragraph 7
7. Reiterates the priority of ensuring that State aid rules are strictly and impartially adhered to, including when dealing with future banking crises, so that taxpayers and savers are protected against the burden of bank rescues; calls on the Commission to publish a historical report on the amount of State aid approved in the banking sector in the Member States, with in-depth comparisons;
2021/02/03
Committee: ECON
Amendment 116 #

2020/2223(INI)

Motion for a resolution
Paragraph 7 a (new)
7a. Regrets that, despite the suspension of the Stability and Growth Pact, the Commission is continuing its moral suasion by stressing the need for rigour in public finances in the medium term, inducing countries with high levels of government debt to spend less than is necessary to support the economy against the background of an unpredictable crisis; points out that inadequate public intervention during lockdowns can destroy entire sectors of the economy and create deep and lasting structural and social crises;
2021/02/03
Committee: ECON
Amendment 123 #

2020/2223(INI)

Motion for a resolution
Paragraph 8
8. Calls for reflection on possible distortions of competition arising from the European Central Bank’s pandemic emergency purchase programme (PEPP) and corporate sector purchasing programme (CSPP);
2021/02/03
Committee: ECON
Amendment 132 #

2020/2223(INI)

Motion for a resolution
Paragraph 8 a (new)
8a. Calls on the Commission to explore temporary solutions whereby large corporations operating in online trading and deliveries, which have been excessively rewarded by the restrictions to contain the Coronavirus, can help support traditional retail and catering activities, which, on the contrary, have been heavily penalised;
2021/02/03
Committee: ECON
Amendment 150 #

2020/2223(INI)

Motion for a resolution
Paragraph 10
10. Expresses its concern about distortive state-funded competition from Chinese and other foreign undertakings acquiring European undertakings, especially those active in innovative technologies, and regrets the conclusion of the 'Comprehensive Agreement on Investment' negotiations with China, which fail to take sufficient account of these distortive aspects and of the more important issue of respect for human rights;
2021/02/03
Committee: ECON
Amendment 174 #

2020/2223(INI)

Motion for a resolution
Paragraph 12
12. Is of the opinion that the Union and the Member States need targeted policies and investments to reindustrialise and re- shore jobs and value chain activities; considers it a matter of priority in this regard to eliminate the austerity constraints inherent in the Stability and Growth Pact;
2021/02/03
Committee: ECON
Amendment 194 #

2020/2223(INI)

Motion for a resolution
Paragraph 15
15. WelcomNotes the Commission’s determination to address unfair terms and practices, act decisively, and eliminate illegitimate obstacles to online competition in the European digital single market; points out that every day, large digital corporations transfer huge profits without paying the right taxes in the countries where the transactions actually took place; regrets that some Member States encourage tax avoidance through their tax and legal systems;
2021/02/03
Committee: ECON
Amendment 8 #

2020/2176(DEC)

Draft opinion
Paragraph 2
2. Shares with concern the Court’s observation that to compensate for a shortage of posts the Authority relies increasingly on consultants and interim staff, which may pose risks of inadequate supervision of complex work by external contractors and contractual litigation issues; urges the Authority to make sure that contracts avoid any confusion between the procurement of services and of interim workers;
2021/01/08
Committee: ECON
Amendment 7 #

2020/2175(DEC)

Draft opinion
Paragraph 2
2. Shares the Court’s observation that to compensate for a shortage of posts the Authority relies on consultants and interim staff, which may pose risks if too few qualified staff are to supervise complex work of external contractors or cause risks of contractual litigation; urges the Authority to make sure that contracts avoid any confusion between the procurement of services and of interim workers;
2021/01/08
Committee: ECON
Amendment 12 #

2020/2175(DEC)

Draft opinion
Paragraph 3
3. RegretNotes that the budget does not disclose completely how the contributions from EU and EFTA Member States were calculated, nor were the Member States contributions adjusted to match the actual figures for the Authority’s pensions contributionsfunding key for and EFTA Member States’ contributions is determined by Article 62 of EIOPA´s founding regulation; calls on the Authority to swiftly publish a more detailed explanation on the calculation methods applied for EU, NCA and EFTA state contributions, and not to wait until the next SPD;
2021/01/08
Committee: ECON
Amendment 11 #

2020/2174(DEC)

Draft opinion
Paragraph 2
2. Shares with concern the Court’s observation that to compensate for a shortage of posts the Authority relies on interim staff, which may cause dependencies on the interim work agencies and pose risks of inadequate supervision of complex work by external contractors and contractual litigation issues; urges the Authority to make sure that contracts avoid any confusion between the procurement of services and of interim workers;
2021/01/08
Committee: ECON
Amendment 21 #

2020/2174(DEC)

Draft opinion
Paragraph 3
3. Recalls its resolution of 13 January 2020 on institutions and bodies of the EMU: preventing post-public employment conflicts of interest and the decision of the European Ombudsman in case 2168/2019/KR of 7 May 2020; strongly agrees with the Ombudsman that the Authority should have forbidden the job move and that the measures put in place to prevent conflicts of interest are not sufficient to address the risks involved;
2021/01/08
Committee: ECON
Amendment 22 #

2020/2174(DEC)

Draft opinion
Paragraph 3 a (new)
3 a. Welcomes the adoption by the Authority`s Board of Supervisors of its Policy on Independence and Decision Making Processes for avoiding Conflicts of Interests; calls on the European Court of Auditors to specifically scrutinize in its future audits of the Authority (i) if senior staff members have taken up certain positions in the financial industry after their term in office, (ii) the timely manner in which access to confidential information for staff members is withdrawn, once it became known that they are moving to another job;
2021/01/08
Committee: ECON
Amendment 3 #

2020/2169(DEC)

Draft opinion
Paragraph 4
4. Recalls the importance of fisheries control in achieving the objectives of the common fisheries policy (CFP); acknowledges the Agency’s vital contribution to implementing these goals; stresses that the ongoing revision of the regulation governing fisheries control will increase the Agency’s workload; stresses, therefore, that the financial and human resources available to the Agency need to be increased in the coming calls, therefore, for resources to be optimised with a view to achieving maximum efficiency without increasing costs for European taxpayears;
2021/02/04
Committee: PECH
Amendment 4 #

2020/2169(DEC)

Draft opinion
Paragraph 5
5. Welcomes the continuous improvement since 2017 in the implementation rate of the Agency’s work programme, which reached 99% in 2019, up from 98% in 2018 and 93% in 2017; notes, further, that in 2019 the Agency coordinated 32 381 fishing vessel inspections, which led to the detection of 1 487 suspected infringements, an increase, respectively, of 20.2% and 107.8% on the 2018 figures; takes the view that these figures show that inspections and follow- up activities remain a key tool for ensuring that the rules of the CFP are observed; calls, in that regard, for checks to be carried out to establish how many suspected infringements were actually infringements;
2021/02/04
Committee: PECH
Amendment 5 #

2020/2169(DEC)

Draft opinion
Paragraph 5 a (new)
5a. Calls for more attention to be paid in the monitoring of non-EU fishing vessels to prevent discrepancies arising in the application of rules for vessels flying an EU flag;
2021/02/04
Committee: PECH
Amendment 6 #

2020/2169(DEC)

Draft opinion
Paragraph 6
6. Welcomes the fact that, since 2017, the tripartite working arrangement between the Agency, the European Maritime Safety Agency (EMSA) and the European Border and Coast Guard Agency (Frontex) has functioned well; notes that the Agency is on track to achieve, by the end of 2020, the objectives set out in the arrangement; calls on the Agency to continue its efforts in that regard; considers the arrangement an example of synergy between EU agencies that should inspire agencies in other areas;
2021/02/04
Committee: PECH
Amendment 8 #

2020/2169(DEC)

Draft opinion
Paragraph 8
8. Takes note of the Agency’s policy of promoting equal treatment of staff and of its goal of gender equality in terms both of numbers and of grades and responsibility levels; notes that, on 31 December 2019, a total of 46% of staff members were female; criticises the fact that women account for only 26% of staff employed at grade AD 8 or higher; notes, however, that this rate is a nine-point improvement on the 2018 figure and a two- point improvement on the 2017 figure; calls on the Agency to keep up its efforts with regard to its gender parity policy, in terms of both the number of women employed and their grade;
2021/02/04
Committee: PECH
Amendment 9 #

2020/2169(DEC)

Draft opinion
Paragraph 9
9. Deplores the fact that, despite the Agency’s commitment in June 2018 to publishing information on the relevant executive director and staff meetings with lobbyists on its website, no such information has been published yet; calls on the Agency to deliver on its commitment and regularly update the page on its website dedicated to providing this information, with regard to both registering meetings and publishing any resulting documents; failing to meet this commitment in the future should not go without consequence;
2021/02/04
Committee: PECH
Amendment 4 #

2020/2127(INI)

Draft opinion
Paragraph 1
1. Reiterates the importance of the European Union Solidarity Fund (EUSF) in providing financial assistance to Member States and regions hit by natural disasters; welcomes the recent extension of the EUSF’s scope to major public health emergencies, since the occurrence of new pandemics in the medium term cannot be ruled out;
2021/06/07
Committee: BUDG
Amendment 6 #

2020/2124(INI)

1. Calls on the Member States to urgently, if circumstances so warrant, to agree on capital increase, both cash-in and callable in nature; calls for risks to be taken inparticular attention to be paid to the area of green and digital innovation in order to catalyse the just and digital transitions and to stop the financing of stranded assets;
2020/12/11
Committee: BUDG
Amendment 17 #

2020/2124(INI)

Draft opinion
Paragraph 2
2. Reiterates that all financial flows of the European Investment Bank (EIB) Group should be consistent with the goal of achieving net zero emissions by 2050 at the latest and the Union’s new climate objective for 2030; looks forward to the adoption in 2020 of an ambitious Climate Bank Roadmap 2021-25 (CBRM), which is to include a detailed strategic and operational framework with milestones and a shadow carbon price of at least EUR 100/tonne by 2025; cCalls for all financial intermediaries and corporate clients to have a decarbonisation plan in place by the end of 2021;
2020/12/11
Committee: BUDG
Amendment 40 #

2020/2124(INI)

Draft opinion
Paragraph 4
4. Expects the CBRM and the EIB’s revised transport lending policy not to fall below the standard of EU taxonomy; calls for no new loans to be granted that hinder the decarbonisation of transport, and, in particular, no new financing to be awarded for the expansion of airports, for increased road capacity, for port expansions in Europe and related infrastructure or for the shipping of liquefied natural gas;deleted
2020/12/11
Committee: BUDG
Amendment 52 #

2020/2124(INI)

Draft opinion
Paragraph 4 a (new)
4a. Takes the view that, in keeping with the EIB's current position, new road construction projects should undergo an economic test incorporating a higher carbon price, so that full account can be taken of the related environmental externalities;
2020/12/11
Committee: BUDG
Amendment 67 #

2020/2124(INI)

Motion for a resolution
Paragraph 6
6. Stresses the importance of avoiding furTakes note of ther geographical imbalances in thedistribution of EIB’s lending activity so as to ensure a broader geographical and sectoraland call for a fair allocation of investments, to reduce regional disparities and to enhance convergence; welcomes the efforts already made by the EIB in this regard;
2021/03/10
Committee: ECON
Amendment 143 #

2020/2124(INI)

Motion for a resolution
Paragraph 18
18. Reiterates that supporting SMEs and mid-caps must remain a fundamental objective for the EIB, notably to assist them with decarbonisation and access to ICT tools; welcomes efforts made to provide online assistance and counselling to SMEs in accessing EIB lending; reiterates, moreover, that the EIB should further strengthen its support for micro- enterprises, especially in this time of economic crisis, including through cooperation with National Support Banks and local banking networks;
2021/03/10
Committee: ECON
Amendment 182 #

2020/2124(INI)

Motion for a resolution
Paragraph 24 a (new)
24 a. Regrets the fact that at the end- 2019 the total disbursed exposure in Turkey, a country that does not respect several of the basic principles of freedom and democracy, amounted to EUR 12.3bn and a further EUR 0.8bn has been committed in signed operations not yet disbursed;
2021/03/10
Committee: ECON
Amendment 197 #

2020/2124(INI)

Motion for a resolution
Paragraph 26 a (new)
26 a. Notes with concern that general administrative expenses are ever increasing and asks the EIB to maintain cost discipline as well as to keep its management structure lean and efficient;
2021/03/10
Committee: ECON
Amendment 12 #

2020/2122(INI)

Motion for a resolution
Recital A
A. whereas overall, the banking sector has responded to the COVID-19 pandemic with resilience, mostly founded on the regulatory reforms enacted since the major global financial crisis and further supported by extraordinary public policy relief measures and capital conservation practiceshave proved ineffective in combating the causes of the banking crises that have followed, and whereas many of the rules were immediately suspended in order to allow the banking system to prop up the economy during the COVID-19 pandemic;
2021/05/27
Committee: ECON
Amendment 32 #

2020/2122(INI)

Motion for a resolution
Recital C
C. whereas the lack of a solution to the treatment of sovereign debt exposures and national options and discretions persists, undermining the European dimension of the Banking Union;deleted
2021/05/27
Committee: ECON
Amendment 108 #

2020/2122(INI)

Motion for a resolution
Paragraph 3 a (new)
3a. Takes the view that supervision continues to focus too much on credit risk, underestimating the importance of financial risk;
2021/05/27
Committee: ECON
Amendment 109 #

2020/2122(INI)

Motion for a resolution
Paragraph 3 b (new)
3b. Calls on the supervisory authorities to monitor financial risks closely, in particular those linked to the shadow banking system, and to take appropriate steps wherever necessary; calls on the supervisory authorities, further, to monitor closely aspects linked to the professionalism of and generational change in governance, in particular in the smallest banks;
2021/05/27
Committee: ECON
Amendment 118 #

2020/2122(INI)

Motion for a resolution
Paragraph 5
5. Underlines the vital contribution to addressing the crisis of public guarantee schemes, moratoria on loan repayments for borrowers in financial difficulty, the central banks’ liquidity programmes and the ECB’s targeted longer-term refinancing operations (TLTRO) and pandemic emergency purchase programme (PEPP); emphasises, therefore, that all the measures referred to above should remain in force for as long as necessary and should be withdrawn gradually;
2021/05/27
Committee: ECON
Amendment 125 #

2020/2122(INI)

Motion for a resolution
Paragraph 5 a (new)
5a. Calls on the EBA to defer, at least until 31 December 2021, the suspension of the rules on default classification, and at the same time to raise from 1% to 5% the diminished financial obligation threshold, as laid down in paragraph 51 of the EBA Guidelines on the definition of default (EBA/GL/2016/07), in order to enable banks to assess the value of loans correctly, so that healthy firms are not erroneously categorised as bad payers;
2021/05/27
Committee: ECON
Amendment 135 #

2020/2122(INI)

Motion for a resolution
Paragraph 6
6. Notes the ‘quick fix’ to the Capital Requirements Regulation31 extending transitional arrangements in order to support banks’ lending capacity32 ; calls, furthermore, for a two-year freeze on the timing of the minimum loss coverage requirements set out in the ‘NPL backstop Regulation’ and of supervisory expectations; _________________ 31Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.06.2013, page 1). 32 Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020, amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic (OJ L 204, 26.6.2020, page 4).
2021/05/27
Committee: ECON
Amendment 179 #

2020/2122(INI)

Motion for a resolution
Paragraph 11
11. Notes the postponement of the implementation of the Basel III reforms and awaits the Commission’s upcoming proposal on the implementation of the finalised standards, taking into account the specificities of the EU banking sector; and the need to increase bank lending to the real economy, and in particular SMEs, in part by raising the thresholds for the supporting factor, which would increase their spending capacity;
2021/05/27
Committee: ECON
Amendment 207 #

2020/2122(INI)

Motion for a resolution
Paragraph 16
16. Notes that sound management of credit risk should remain the key priority for the SSMa detailed assessment of the systemic risks to the European banking system should remain the key priority for the SSM, and takes the view that financial risk is being underestimated, in particular as regards the exposure of the shadow banking system;
2021/05/27
Committee: ECON
Amendment 211 #

2020/2122(INI)

Motion for a resolution
Paragraph 17
17. Stresses that ensuring proper and timely management of deteriorated exposures will be key to preventing a build-up of non-performing loans (NPLs) in the short term; calls therefore for the deferral to December 2024 of the application of Article 500 CRR on the transfer of NPLs, in order to rule out any disproportionate impact on banks' capital, which would in turn have negative repercussions for lending to the real economy, and in particular to SMEs;
2021/05/27
Committee: ECON
Amendment 228 #

2020/2122(INI)

Motion for a resolution
Paragraph 18
198. Stresses that banks should diligently assess the financial soundness and viability of businesses, proactively engage with distressed debtors to manage their exposures, and offer financing and restructuring options to viable companies; takes the view that the prudential framework should be revised accordingly, to make possible and incentivise the granting of such options;
2021/05/27
Committee: ECON
Amendment 237 #

2020/2122(INI)

Motion for a resolution
Paragraph 18 a (new)
18a. Takes the view that, in order to give the banks sufficient leeway to implement tolerance measures and avoid counterproductive capital absorptions as provided for in the current rules, the diminished financial obligation threshold laid down in paragraph 51 of the EBA Guidelines on the definition of default (EBA/GL/2016/07) should be raised from 1% to 5%;
2021/05/27
Committee: ECON
Amendment 244 #

2020/2122(INI)

Motion for a resolution
Paragraph 20
20. Stresses the benefits of banking consolidation in addressing the overcapacities and fragmentation of the banking sectorproviding incentives to establish properly supervised local banking systems in the European Union, with a view to boosting the credit system by focusing on knowledge of local industries and meeting the needs of networks of SMEs;
2021/05/27
Committee: ECON
Amendment 256 #

2020/2122(INI)

Motion for a resolution
Paragraph 22
22. Is concerned that as Member States sell increasing amounts ofTakes the view that any kind of risk weighting of the sovereign bonds, their share i on banks' balance sheets grows, potentially aggravating the doom loop; considers that the creation of Next Generation EU will provide high-quality European assetcould destabilise the European banking system and the sovereign bond market and undermine the very ability of the Member States to finance their own bond issues;
2021/05/27
Committee: ECON
Amendment 308 #

2020/2122(INI)

Motion for a resolution
Paragraph 29
29. Welcomes the fact that while the SRB was not required to take resolution action in 2020, it nevertheless collaborated with the SSM regarding close-to-crisis cases; apprecianotes the advancement of the current resolution planning cycle, and reiterates that MREL requests should be proportionate so that they represents one of the key elements in enhancing banks’ resolvability;
2021/05/27
Committee: ECON
Amendment 312 #

2020/2122(INI)

Motion for a resolution
Paragraph 29 a (new)
29a. Regards it as essential to increase the transparency and ex ante predictability of the results of the public interest assessment, in order to provide the clarity needed to guarantee more consistent and proportionate MREL levels;
2021/05/27
Committee: ECON
Amendment 319 #

2020/2122(INI)

Motion for a resolution
Paragraph 30
30. Considers it necessary to have in place an EU liquidation regime, based on greater use of preventive interventions as an alternative to deposit guarantee schemes, for banks for which the SRB assesses that there is no public interest in resolution;
2021/05/27
Committee: ECON
Amendment 326 #

2020/2122(INI)

Motion for a resolution
Paragraph 31
31. Invites the Commission, following detailed study and consultation with national authorities and parliaments, to reflect on the potential for further harmonisation of specific aspects of existing national insolvency laws in order to ensure a consistent and effective application of the crisis management framework;
2021/05/27
Committee: ECON
Amendment 329 #

2020/2122(INI)

Motion for a resolution
Paragraph 32
32. Finds merit, in particular, in adopting a targeted approach to the harmonisation of the creditor hierarchy in bank insolvency proceedings, involving a raising of the coverage threshold for households and SMEs, in order to safeguard the credibility of the European banking system;
2021/05/27
Committee: ECON
Amendment 338 #

2020/2122(INI)

Motion for a resolution
Paragraph 33
33. Considers it necessary to revieallow the public interest assessment so as to enable the application of resolution instruments to a wider groups of banksimplementation under national deposit guarantee schemes of preventive and alternative measures (i.e. financing of the transfer of assets and liabilities from LSI banks in crisis to a third party) in order to ensure an orderly liquidation of small and medium-sized banks with a negative public interest assessment;
2021/05/27
Committee: ECON
Amendment 352 #

2020/2122(INI)

Motion for a resolution
Paragraph 35
35. Notes the importance of depositors across the Banking Union enjoying the same level of protection of their savings, and takes the view that the threshold should be raised, at least for households and SMEs, in order to safeguard the credibility of the European banking system; takes note of the Commission proposal to further strengthen citizens’ confidence in the protection of deposits by introducing an EDIS;
2021/05/27
Committee: ECON
Amendment 372 #

2020/2122(INI)

Motion for a resolution
Paragraph 36
36. Notes the Commission’s launch of the review of the CMDI framework, including the option of a hybrid EDIS, built around the idea of an initial liquidity support mechanism among national DGSs and aimed at financing any shortage of DGS means, irrespective of whether the funds have been used in a pay-out or preventive/alternative intervention, assuming that this choice is guided by the Least Cost Test (LCT);
2021/05/27
Committee: ECON
Amendment 380 #

2020/2122(INI)

Motion for a resolution
Paragraph 36 a (new)
36a. Considers it necessary to amend DG COMP’s 2013 state aid rules and Banking Communication in a consistent manner in order to allow for preventive and alternative action by DGS in the context of crisis management, taking due account of recent CJEU rulings;
2021/05/27
Committee: ECON
Amendment 381 #

2020/2122(INI)

Motion for a resolution
Paragraph 36 b (new)
36b. Considers it essential to increase the transparency and ex ante predictability of the results of the public interest assessment, in order to provide the clarity needed to guarantee more consistent and proportionate MREL levels;
2021/05/27
Committee: ECON
Amendment 88 #

2020/2078(INI)

Motion for a resolution
Paragraph 4
4. Recognises that the EU faces the unprecedented challenge of mitigating the social and economic consequences of the historic recession and setting the course for a rapid economic recovery linkoriented to a sustainable and just transition and digital transformation; is convinced that, for this, a significant increase in public and private investment compared to the 2010s is indispensable and that the increased level of investment must be stabilised for many years to come;
2020/07/13
Committee: ECON
Amendment 111 #

2020/2078(INI)

Motion for a resolution
Paragraph 5
5. WelcomesTakes note of the swift and strong response to the crisis in the area of monetary and fiscal policy, at both EU and Member State level, as well as the European Recovery Plan; considers it essentialacknowledges that the recovery package is fully aligned with the EU’s new growth strategy, i.e. in accordance with the principles of the European Green Deal (EGD), the European Pillar of Social Rights (EPSR) and the United Nations Sustainable Development Goals (SDGs), and with the aim to protect women’s rights and achieve gender equality; demands that funds and resources be directed to projects and beneficiaries that comply with our Treaty-based fundamental values and that recipient firms protect their workers, pay their fair share of taxes, and refrain from paying out dividends or offering share buy-back schemes aimed at remunerating shareholders;
2020/07/13
Committee: ECON
Amendment 115 #

2020/2078(INI)

Motion for a resolution
Paragraph 5 a (new)
5a. Is of the view that the European Stability Mechanism (ESM) is an inadequate tool for responding effectively to economic crises in the euro area and considers it advisable to revise the TFEU so that the ECB can directly purchase Member States' government bonds on the primary market;
2020/07/13
Committee: ECON
Amendment 126 #

2020/2078(INI)

Motion for a resolution
Paragraph 6
6. Welcomes the activation of the general escape clause of the Stability and Growth Pact, and expects that it will remain activated at least until the end of 2021 and not before a complete upturn of all Member states in order to support their efforts of the Member States to recover from the pandemic crisis and strengthen their economic and social resilience;
2020/07/13
Committee: ECON
Amendment 136 #

2020/2078(INI)

Motion for a resolution
Paragraph 7
7. Recalls the specific need to foster growth convergence within the euro area;
2020/07/13
Committee: ECON
Amendment 155 #

2020/2078(INI)

Motion for a resolution
Paragraph 9
9. Is concerned about the significant but uneven negative impact of the COVID-19 crisis on government deficit and private debt, which further aggravates the situation of Member States that are particularly affected by the pandemic and/or pre-existing high levels of government debt; calls for a solution that guarantees the sustainability of public debt;deleted
2020/07/13
Committee: ECON
Amendment 175 #

2020/2078(INI)

Motion for a resolution
Paragraph 10
10. Considers it essential that the revision of the EU’s fiscal and economic policy framework should be completed by the time the escape clause is repealed and should enable fiscal policy to respond with discretion to shocks in the short term, and to gradually reduce high public debt ratios, by supporting growth, to an agreed reference value in the long term, while allowing a sufficientconsiderable level of public investment, progressivsustainable tax policies and the repayment of loans in a cycle- comfortable manner, and the long-term modernisation of public commodities;
2020/07/13
Committee: ECON
Amendment 178 #

2020/2078(INI)

Motion for a resolution
Paragraph 10 a (new)
10a. Urges the Commission to review the methodology for calculating estimates of potential output and the output gap used for the assessment of the cyclical component of the structural balance; is of the view that this methodology has proven to be inadequate and, over the years, has been shown to produce excessive, distorting and damaging restrictions on the spending capacity of states;
2020/07/13
Committee: ECON
Amendment 192 #

2020/2078(INI)

Motion for a resolution
Paragraph 11
11. Proposes a combination of expenditure rules for public non- investment expenditure and a golden rule for public investment which is central to both; wishes to see a rapid recovery from the COVID-19 crisis and a transition to a cleaner, socially sustainable and more digital societycompetitive Eurozone;
2020/07/13
Committee: ECON
Amendment 196 #

2020/2078(INI)

Motion for a resolution
Paragraph 11 a (new)
11a. Urges the Commission, in the possible revision of the Stability Pact, to ease the rules that have proven to be too restrictive and often punitive with regard to the public debt and deficit, by adapting the criteria and thresholds to the new economic and social context in Europe; stresses the negative impact excessive current-account surpluses in the balance of payments are having on the stability of the euro area economy;
2020/07/13
Committee: ECON
Amendment 209 #

2020/2078(INI)

Motion for a resolution
Paragraph 12
12. Welcomes the refocus of the European Semester Spring Package aimed at providing an immediate economic policy response to tackle and mitigate the health and socio-economic impact of COVID-19 and reboot economic activity; supports the Commission’s announcement of a reform of the European Semester to convert it into a tool to coordinate the recovery measures, framed by the principles of the EGD, the EPSR and the SDGs; is convinced that this has to include the coordination of measures concerning state aid and tax policies; underlines the need for the integration of a new set of binding sustainability and wellbeing indicators and alternative measurements of growth performance;
2020/07/13
Committee: ECON
Amendment 216 #

2020/2078(INI)

Motion for a resolution
Paragraph 12 a (new)
12a. Is concerned about the clear distortions of competition caused by the asymmetric volumes of state aid granted by Member States during economic crises, owing to different debt baselines; is of the view that the Commission's work on competition policy has been inadequate and damaging and has increased imbalances between EU economies; considers that it would be appropriate to conduct an in-depth assessment of the impact caused by the Commission's approach to competition and state aid;
2020/07/13
Committee: ECON
Amendment 241 #

2020/2078(INI)

Motion for a resolution
Paragraph 14 a (new)
14a. Takes the view that Member States' policies and reforms should be discussed and decided on only by the national parliaments, applying the principle of subsidiarity; notes that the European Semester procedure has proven to be totally unsuccessful and damaging, imposing reforms that have made countries' economies weaker and more vulnerable, exacerbated wage deflation and increased precarious employment and poverty;
2020/07/13
Committee: ECON
Amendment 245 #

2020/2078(INI)

Motion for a resolution
Paragraph 14 a (new)
14a. considers appropriate to limit the interventions and recommendations to member countries to areas necessary to prevent or reduce the negative externalities produced by national policies, respecting the sovereignty of Member States in every other sector;
2020/07/13
Committee: ECON
Amendment 274 #

2020/2078(INI)

Motion for a resolution
Paragraph 17
17. Recalls the urgent need to complete and reinforce the EMU architecture with a view toaiming at protecting citizens and reducing pressure on public finances during external shocks so as to overcome social and economic imbalances, by creating a fiscal capacity for public investment, a macroeconomic stabilisation and cohesion function for the euro area, and a European unemployment benefit reinsurance scheme;
2020/07/13
Committee: ECON
Amendment 277 #

2020/2078(INI)

Motion for a resolution
Paragraph 17 a (new)
17a. considers extremely important to change the mandate of the ECB, placing as its first objective the full employment and subordinately the price stability, as well as widening its scope through the introduction of instruments necessary to correct the economic asymmetries among the Eurozone member countries;
2020/07/13
Committee: ECON
Amendment 282 #

2020/2078(INI)

Motion for a resolution
Paragraph 17 b (new)
17b. considers necessary to intervene in the banking regulation and supervision system, allowing greater flexibility in complying with the convergence criteria towards countries with low credit demand and applying the same criteria more rigorously in those with excess credit demand, also in order to avoid the excessive increase in inflation;
2020/07/13
Committee: ECON
Amendment 3 #

2020/2058(INI)

Motion for a resolution
Citation 11
— having regard to the final report and recommendations of the High-Level Group on Own Resources,deleted
2020/07/03
Committee: BUDGECON
Amendment 55 #

2020/2058(INI)

Motion for a resolution
Paragraph 1
1. WelcomesRecalls that the Sustainable Europe Investment Plan (SEIP) as central in ensuring the success of the Green Deal and thecould be the first step in guaranteeing the gradual transition towards a more sustainable and resilient economy;
2020/07/03
Committee: BUDGECON
Amendment 59 #

2020/2058(INI)

Motion for a resolution
Paragraph 1 a (new)
1a. Stresses the importance to provide for an economically viable transition, in particular for SMEs and micro- enterprises in terms of time and conversion tools;
2020/07/03
Committee: BUDGECON
Amendment 61 #

2020/2058(INI)

Motion for a resolution
Paragraph 1 b (new)
1b. Recalls that a social protection system is necessary in the event that the companies that implement the climate transition have an excess of staff, employees who cannot be relocated or in the event of relocation of the enterprises;
2020/07/03
Committee: BUDGECON
Amendment 62 #

2020/2058(INI)

Motion for a resolution
Paragraph 1 c (new)
1c. Stresses that an equitable transition to a sustainable and resilient economy cannot be separated from an effective digitalization plan. As the facts demonstrated during the Corona virus pandemic, digitization allows doing many remote activities, such as working, attending school or university’s lessons, having a medical consultation; consequently, it could be possible to greatly reduce the pollution from today's very high mobility and would allow repopulating many areas currently depopulated; so stresses that the repopulation of ex populated areas would benefit the environment in terms of ordinary maintenance of the territory, avoiding the hydrogeological risk to which some areas are now more exposed;
2020/07/03
Committee: BUDGECON
Amendment 100 #

2020/2058(INI)

Motion for a resolution
Paragraph 3
3. Stresses that the success of the EU’s aim to achieve climate neutrality will depend on the adequacy of the financingmust be reached with the lowest social and economic impact;
2020/07/03
Committee: BUDGECON
Amendment 134 #

2020/2058(INI)

Motion for a resolution
Paragraph 5
5. Wishes to see it ensured that funding from the SEIP, at EU and national level, goes towards the policies and programmes with the highest potential to contribute to the fight against climate change, and looks forward to the Commission’s upcoming climate tracking methodology using appropriately the criteria established by the EU taxonomy;
2020/07/03
Committee: BUDGECON
Amendment 162 #

2020/2058(INI)

Motion for a resolution
Paragraph 6 a (new)
6a. Believes that one of the ways to achieve the climate neutrality is the widest possible digitization of the public and private sectors;
2020/07/03
Committee: BUDGECON
Amendment 167 #

2020/2058(INI)

Motion for a resolution
Paragraph 7
7. Calls for the phasing-out of public and private investments in highly polluting and harmful industries for which economically feasible alternatives are available, while fully respecting the rights of Member States to choose their energy mix;
2020/07/03
Committee: BUDGECON
Amendment 183 #

2020/2058(INI)

Motion for a resolution
Paragraph 7 a (new)
7a. Calls for all possible strategies to be put in place to prevent the achievement of climate neutrality from having negative effects on the competitiveness of European markets worldwide, especially for the strategic sectors; considers strategic in the commercial policy to choose only third country's partners with climate priorities compatible with those of the EU; believes necessary to avoid that the environmental transition towards climate neutrality entails the risk of energy dependence outside the European Union;
2020/07/03
Committee: BUDGECON
Amendment 276 #

2020/2058(INI)

Motion for a resolution
Paragraph 12 a (new)
12a. Notes that European resources destined for digitization, especially for the private sector, often remain unused due to difficulties in accessing information and lack of transparency; stresses that transparency in monitoring is also fundamental for the realization of the funded projects; calls for greater ease of access to calls for proposals, greater clarity of the monitoring methodology and better information;
2020/07/03
Committee: BUDGECON
Amendment 291 #

2020/2058(INI)

Motion for a resolution
Paragraph 14
14. Reaffirms its previous position regarding candidates for new own resources, and calls on the Commission to proposejects the introduction of new EU own resources, which correspond to essential EU objectives including the fight against climate change and the protection of the environment; asks, therefore, for the introduction of new own resources based on the auction revenues of the Emissions Trading System, a contribution on non-recycled plastic packaging waste, the future Carbon Border Adjustment Mechanism, a Common Consolidated Corporate Tax Base or a precursor based on operations of large enterprises, a tax on digital companies, and a financial transaction taxwill ultimately lead to further taxation of businesses and increased tax pressure on citizens;
2020/07/03
Committee: BUDGECON
Amendment 318 #

2020/2058(INI)

Motion for a resolution
Paragraph 14 a (new)
14a. Deplores the Commission's approach to creating new European taxes such as the "carbon tax" or the "plastic tax", which would have a very negative impact on consumers and businesses at an already difficult time for the recovery of the economy hit hard by the crisis of the Coronavirus;
2020/07/03
Committee: BUDGECON
Amendment 346 #

2020/2058(INI)

Motion for a resolution
Paragraph 15 a (new)
15a. Calls for the EIB to provide lower entry thresholds for sustainable finance in order to allow also SMEs to access and increase the effectiveness of its investments; calls on the Commission in synergy with the EIB and the national promotional banks to directly channel at least 40% of the funding generated by the Green Deal towards transparent and easily accessible programs dedicated to European SMEs and micro-sized enterprises;
2020/07/03
Committee: BUDGECON
Amendment 400 #

2020/2058(INI)

Motion for a resolution
Paragraph 18 a (new)
18a. Believes that it is correct to discourage unsustainable investments, but also firmly believes that companies who follow the rules on sustainable investments must be rewarded, on the one hand to encourage economic investments in sustainable activities and on the other to prevent companies from delocalizing their activities in third countries with different environmental objectives with respect to climate neutrality;
2020/07/03
Committee: BUDGECON
Amendment 404 #

2020/2058(INI)

Motion for a resolution
Paragraph 18 b (new)
18b. Invites the Commission to take a gradual approach in introducing a harmonized eco-label on financial products, to allow all market players to have the right time to adapt to standards;
2020/07/03
Committee: BUDGECON
Amendment 421 #

2020/2058(INI)

Motion for a resolution
Paragraph 20
20. Insists on the integration of governance objectives in the sustainability framework, including withrough additional voting rights for long-term shareholders, reform of remt creating extra red tape and costs for both underation structures and fiduciary duties for top-line management, and mandatory sustainability reporting and due diligence for financial institutions and large corporates; welcomes the preparation of a sustainable corporate governance initiativetakings, shareholders and customers, like we have seen in the aftermath of the chaotic implementation of MiFID II;
2020/07/03
Committee: BUDGECON
Amendment 427 #

2020/2058(INI)

Motion for a resolution
Paragraph 21
21. Recalls that investments in unsustainable economic activities may lead to stranded assets with lock-in effects; considers this risk to be insufficiently integrated in credit ratings and prudential frameworks; believes that for the evaluation of a project the credit rating is not a sufficient parameter because the evaluation of the project as a whole is necessary to ensure that all the pre- established criteria, not only of a credit nature, but also of sustainability, are consistently respected with the guidelines of the Commission;
2020/07/03
Committee: BUDGECON
Amendment 468 #

2020/2058(INI)

Motion for a resolution
Paragraph 22 a (new)
22a. Emphasizes that in an equitable transition that ensures the achievement and effectiveness of the objectives set, the allocation of resources should also take into account the results achieved by individual Member States as regards the 2020 targets for energy efficiency and renewable sources energy alternatives; believes that in this way a positive approach would be guaranteed for the Member States that have already invested before, reaching the objectives set, without penalizing those that delayed the transition;
2020/07/03
Committee: BUDGECON
Amendment 475 #

2020/2058(INI)

Motion for a resolution
Paragraph 22 b (new)
22b. Stresses the importance of public investments aimed at implementing interventions and projects for environmental remediation, recovery and restoration in territories, including marine, river and mountain areas, where there is a high level of pollution and contamination due to the abandonment of toxic waste;
2020/07/03
Committee: BUDGECON
Amendment 533 #

2020/2058(INI)

Motion for a resolution
Paragraph 26
26. Invites the Commission to revise the Energy Tax Directive and coordinate a kerosenot to coordinate a kerosene tax because it would affect mostly the consumer rather than the airline companies; underlines tax that could also feed into the EU budgehe importance of incentivizing the use of alternative means of transport to the air carriers through facilitations for greener transport;
2020/07/03
Committee: BUDGECON
Amendment 153 #

2020/2046(INI)

Motion for a resolution
Paragraph 20 a (new)
20 a. calls on the Member States and the Commission to ensure that any new efforts needed to exchange information and collect data do not have a negative impact on the SMEs, especially micro- enterprises, in terms of increased costs and bureaucracy;
2021/04/19
Committee: ECON
Amendment 49 #

2020/2045(INI)

Motion for a resolution
Recital E a (new)
E a. whereas, the EUTFs, on the one hand, are not always more efficient than traditional development aid and, on the other, are less transparent;
2021/05/05
Committee: AFETDEVEBUDG
Amendment 51 #

2020/2045(INI)

Motion for a resolution
Recital E b (new)
E b. whereas Turkey is using the FRT to challenge and to blackmail the EU and its Member States;
2021/05/05
Committee: AFETDEVEBUDG
Amendment 200 #

2020/2045(INI)

Motion for a resolution
Paragraph 22 a (new)
22 a. Underlines that Turkey, through a continuous instrumentalisation of the refugee crisis, is taking advantage of the RFT in order to obtain some leverage for political, economic or military concessions, to justify its aggressive behaviour towards the EU Member States and to pursue its foreign policy ambitions;
2021/05/05
Committee: AFETDEVEBUDG
Amendment 12 #

2020/2037(INI)

Motion for a resolution
Recital A
A. whereas in its 20 years of existence, the euro has become a symbol of Europe’s economic strength and of its position in the worldcaused economic imbalances in Europe;
2020/12/18
Committee: ECON
Amendment 101 #

2020/2037(INI)

Motion for a resolution
Paragraph 3
3. Reiterates, in this context, the need to deepen and completefor a thorough assessment of the state of the Economic and Monetary Union (EMU), the Banking Union and the Capital Markets Union (CMU), with a view to enhancliminating the international competitiveness of European markets and the attractiveness of the euroexisting serious economic imbalances;
2020/12/18
Committee: ECON
Amendment 126 #

2020/2037(INI)

Motion for a resolution
Paragraph 5
5. Emphasises the need for sustainable and sound fiscal and structural growth-enhancing policies that are based on a commitment to credible fiscal rules; calls for further reflection on the adequacy of the stability and growth pact framework despite the challenging circumstances; supports the plan outlined in Next Generation EU to use, in addition to monetary policy, a fiscal impulse, notably borrowing EUR 750 billion from capital markets bonds to finance the recovery and green transition, in additexpansionary fiscal policies to stimulate demand and exit rapidly the economic crisis caused by COVID-19; calls for a rapid revision tof the issuance of EUR 100 stabillion in ‘social’ bonds under the European instrument for temporary support to mitigate unemployment risks in an emergency (SURE), which is intended to preserve employment; applauds the high level of interest that investors have demonstrated in European bondty and growth pact framework despite the challenging circumstances;
2020/12/18
Committee: ECON
Amendment 220 #

2020/2037(INI)

Motion for a resolution
Paragraph 15
15. Takes note of the ECB report on the digital euro, and of the value astatement by the member of the ECB’s Executive Board in charge of the task force on the project, Fabio Panetta, that the digital ceurrency can add in strengthening the international role of the euroo would complement cash, not replace it; deplores political actions geared towards eliminating cash, which are liable to impinge upon the fundamental rights of citizens, especially those in the most vulnerable groups, such as the elderly and those with disabilities, who could encounter problems in the use of new technologies; supports the ECB’s efforts in ensuring a high level of cyber resilience;
2020/12/18
Committee: ECON
Amendment 60 #

2020/2034(INL)

Motion for a resolution
Recital I a (new)
Ia. whereas in its report on decentralised transaction networks (DLT), published in January 2017, ESMA concluded that it was too early for regulatory measures because the technology in the financial markets was still in its early stages;
2020/07/08
Committee: ECON
Amendment 65 #

2020/2034(INL)

Motion for a resolution
Recital I b (new)
Ib. whereas ESMA expects, according to its report on decentralised transaction networks (DLT), that the new technology will bring various advantages, but also challenges in terms of control, data protection, cross-system interoperability, the application of common standards and access to central bank balances;
2020/07/08
Committee: ECON
Amendment 78 #

2020/2034(INL)

Motion for a resolution
Recital M
M. whereas operational problems, particularly ICT and security risks, especially hacking by foreign powers, can generate systemic risks for the financial sector;
2020/07/08
Committee: ECON
Amendment 79 #

2020/2034(INL)

Motion for a resolution
Recital O
O. whereas the ICT and security risks faced by the financial sector, and its level of integration at EU level, warrant specific and more advanced actions that build on but go beyond the NIS Directive;deleted
2020/07/08
Committee: ECON
Amendment 123 #

2020/2034(INL)

Motion for a resolution
Paragraph 2
2. Considers that FinTech will be integral to the success of the Capital Markets Union (CMU) and encourages the Commission to consider how to harness the benefits of FinTech in driving forwardmaking capital markets integration in the Union the Union more resilient;
2020/07/08
Committee: ECON
Amendment 133 #

2020/2034(INL)

Motion for a resolution
Paragraph 4
4. Calls on the Commission to deploy a proportionate, cross-sectorial and holistic approach to its work on FinTech, and focus on not smothering innovation with overregulation and red tape;
2020/07/08
Committee: ECON
Amendment 139 #

2020/2034(INL)

Motion for a resolution
Paragraph 5
5. Calls on the Commission to act as first mover in order to create a favourable environment for European FinTech hubs and firms to scale up, for example by exempting such hubs and firms from the increasingly harmonised tax regulation at EU level;
2020/07/08
Committee: ECON
Amendment 149 #

2020/2034(INL)

Motion for a resolution
Paragraph 6 – introductory part
6. Stresses that law and supervision in the area of FinTech should be based on the following principles:
2020/07/08
Committee: ECON
Amendment 156 #

2020/2034(INL)

Motion for a resolution
Paragraph 6 – point c a (new)
ca. preferential treatment of technologies developed in the EU and financed by EU sources;
2020/07/08
Committee: ECON
Amendment 178 #

2020/2034(INL)

Motion for a resolution
Paragraph 8
8. Highlights the importance of the triangle of trust, identity and dataprotection and data security in order to ensure that operators, consumers and supervisors are able to have confidence in digital finance;
2020/07/08
Committee: ECON
Amendment 201 #

2020/2034(INL)

Motion for a resolution
Paragraph 9
9. Considers that developing a pan- European taxonomy for crypto-assets is desirable as a step towards fosteringe need for a common understanding, facilitating collaboration across jurisdictions and providing greater regulatorysupervisory and legal certainty for market participants engaged in cross border activity; recommends taking into account the importance of international cooperation and global initiatives as regards frameworks for crypto-assets, bearing in mind in particular their borderless nature; cautions, however, that developing an open-ended taxonomy template may be more appropriate for this evolving market segment, but will ultimately be detrimental to legal certainty, and will be quickly outdated due to technological progress;
2020/07/08
Committee: ECON
Amendment 212 #

2020/2034(INL)

Motion for a resolution
Paragraph 10
10. Believes, therefore, that any further categorisation should be cautious, restrained, balanced and flexible in order to give space for innovation in the sector while ensuring that risks can be identified at an early stage;
2020/07/08
Committee: ECON
Amendment 222 #

2020/2034(INL)

Motion for a resolution
Paragraph 11
11. Further stresses that clear guidance on the applicable regulatory and prudential processes is needed in order to provide regulatory and prudential certainty regarding crypto- assets;
2020/07/08
Committee: ECON
Amendment 232 #

2020/2034(INL)

Motion for a resolution
Paragraph 12
12. Points out that applying existing regulations to previously unregulated crypto-assets will be necessary, as will creating bespoke regulatory regimes for evolving crypto-asset activities, such as initial coin offeringdifficult, since such technological innovations usually innovate by finding ways to circumvent new regulatory initiatives;
2020/07/08
Committee: ECON
Amendment 268 #

2020/2034(INL)

Motion for a resolution
Paragraph 14
14. Points out that with the increasing digitalisation of financial services, as well as outsourcing to external IT solution or maintenance providers, such as cloud providers, the exposure of financial institutions and markets to disruption caused by internal failures or external attacks by foreign powers is becoming more pronounced;
2020/07/08
Committee: ECON
Amendment 276 #

2020/2034(INL)

Motion for a resolution
Paragraph 15
15. Calls on the Commission to propose legislative changerefits in the area of ICT and cyber security requirements for the Union financial sector in order to address any inconsistencies, gaps and loopholes that are found to exist in relevant law;
2020/07/08
Committee: ECON
Amendment 289 #

2020/2034(INL)

Motion for a resolution
Paragraph 17 a (new)
17a. Regrets that the supervisory negligence preceeding the downfall of Wirecard suggests that FinTechs profit from preferential treatment by supervisory authorities; regrets that the European institutions, including the European Parliament, has contributed in creating a hype around FinTechs; calls on national and European authorities to curb their enthusiasm when promoting FinTech;
2020/07/08
Committee: ECON
Amendment 2 #

2020/1998(BUD)

Draft opinion
Paragraph 2
2. Stresses that the EU budget for 2021 should include enough commitment and payment appropriations to meet the financing needs of the common fisheries policy; asserts that, for fisheries and aquaculture to continue to be socially, economically and environmentally viable, increased funding for these industries is needed, but that this should not affect the general budget; believes that the budget for this sector must be fully consistent with the EU’s new goals, particularly those set out in the Green Deal, the new industrial strategy, the ‘Farm to Fork’ strategy and the EU Biodiversity Strategy for 2030; takes the view that maintaining the competitive position of the fisheries sector must be go hand in hand with achieving these goals; but equally should not have a detrimental effect on the sector and in particular on small fisheries, which suffer the most from the damage done by IUU fishing;
2020/09/14
Committee: PECH
Amendment 10 #

2020/1998(BUD)

Draft opinion
Paragraph 3
3. Stresses the importance of putting right the economic and social damage caused by the COVID-19 pandemic, which has hit the entire fisheries and aquaculture sector hard; considers that the serious health situation and its economic consequences call for exceptional financial support to be made available immediately to every part of the sector but in particular small fisheries, which have suffered the most from the public health crisis;
2020/09/14
Committee: PECH
Amendment 13 #

2020/1998(BUD)

Motion for a resolution
Paragraph 6
6. Recalls its position that the 2021- 2027 MFF climate and biodiversity mainstreaming targets must go beyond the levels of targeted spending shares as set out in its interim report; aims, therefore, to achieve a biodiversity spending level of 10 % and a climate mainstreaming spending level of 30 % for 2021;
2020/10/20
Committee: BUDG
Amendment 14 #

2020/1998(BUD)

Draft opinion
Paragraph 4
4. Welcomes the action taken by Parliament and the Council to amend Regulations (EU) No 508/2014 and (EU) No 1379/2013 as regards specific measures to mitigate the impact of the COVID- 19 outbreak in the fisheries and aquaculture sector; believes that the Commission must assess in real time how the health and economic situations unfold and, if necessary, consider extending these measures beyond 31 December 2020 if the pandemic continues; believes that the Commission needs to set up a system to monitor these measures to ensure proper and timely use of the funds and that there are no barriers to accessing them;
2020/09/14
Committee: PECH
Amendment 24 #

2020/1998(BUD)

Draft opinion
Paragraph 6
6. Criticises the fact that the implementation rate for the 2014-2020 EMFF is still far too low – only 35% – six years after it was adopted; stresses that this poor rate is partly due to national and European red tape, and sometimes to how the fund is structured, penalising whole categories of workers and especially those employed on a temporary basis;
2020/09/14
Committee: PECH
Amendment 31 #

2020/1998(BUD)

Draft opinion
Paragraph 7
7. Stresses the importance of controls on fishing activities, especially in relation to IUU fishing, and on aquaculture activities, particularly as regards food safety; believes that these controls must remain a priority in the financing of the common fisheries policy;
2020/09/14
Committee: PECH
Amendment 36 #

2020/1998(BUD)

Draft opinion
Paragraph 8
8. Reiterates that the work of the European Fisheries Control Agency (EFCA) must be given the additional funding and equipment it needs tomonitored to ensure it carryies out its activities properly and to ensure that the EU meets its sustainable fishing goals;
2020/09/14
Committee: PECH
Amendment 43 #

2020/1998(BUD)

Draft opinion
Paragraph 10
10. Stresses that generational renewal is one of the European fishing sector’s priorities; considers that Member States should draw on the EMFF and the European Structural Funds to finance the introduction of programmes specifically designed to help young people to take up careers in fisheries, to make the sector more diverse and to encourage people from under-represented groups, particularly women, to join the industry; is not in favour, however, of boosting policies on, for example, excessive digitalisation, that could leave a large number of those employed in the sector on the sidelines, unable to do their work properly unless given suitable support through parallel policies on training and refresher courses; At the same time measures should be provided for to help those who are no longer young, but have not yet reached pensionable age, to return to a sector in renewal;
2020/09/14
Committee: PECH
Amendment 56 #

2020/1998(BUD)

Motion for a resolution
Paragraph 20
20. Considers that it is also necessary to strengthen further important priorities in the heading; calls, inter alia, for a substantial increase in the amount dedicated to SME objectives; recalls the important role that Union agencies play in helping to achieve Union policy objectives; calls therefore for sufficient funding and staffing for all agencies in line with their tasks and responsibilities;
2020/10/20
Committee: BUDG
Amendment 87 #

2020/1998(BUD)

Motion for a resolution
Paragraph 31
31. Decides to apply targeted reinforcements to EPPO; believes that its nature requires a stronger guarantee of independence, and its budget should therefore be presented under Heading 7, an independent organism rather than assimilated to an agency;deleted
2020/10/20
Committee: BUDG
Amendment 103 #

2020/1998(BUD)

Motion for a resolution
Paragraph 41 – subparagraph 1 (new)
Underlines the failure of European policies on preventing migration flows and human trafficking; reiterates its concerns about the role played by instruments such as the ISF and the AMIF in the management of the effects of the migration and refugee crisis;
2020/10/20
Committee: BUDG
Amendment 107 #

2020/1998(BUD)

Motion for a resolution
Paragraph 42
42. Underlines that it is of paramount importance to invest in adequate funding and staffing levels for all agencies operating in the fields of migration, asylum and border management, as long as the investments is devolved to repatriation and border security;
2020/10/20
Committee: BUDG
Amendment 128 #

2020/1998(BUD)

Motion for a resolution
Paragraph 51
51. Points to the persistent challenges in the Union’s Eastern and Southern neighbourhood, as well as the importance of endowing the United Nations Relief and Works Agency for Palestine Refugees in the Near East with adequate financial resources; recalls the importance of developing stable relations and strong cooperation between the EU and Africa and deems appropriate to dedicate sufficient financial resources to the development of this continent, which would contribute inter alia to mitigating the root causes of forced migration;
2020/10/20
Committee: BUDG
Amendment 138 #

2020/1998(BUD)

Motion for a resolution
Paragraph 52 – subparagraph 1 (new)
Calls for an immediate stop to the Union’s accession negotiations with Turkey, as its government is openly threating to invade Europe with an unprecedented migratory flood and as it does not respect fundamental rights, in particular with regard to democracy and media freedom;
2020/10/20
Committee: BUDG
Amendment 141 #

2020/1998(BUD)

Motion for a resolution
Paragraph 52 a (new)
52 a. Calls for the prompt suspension of Union funds for Turkey, in particular those falling under the IPA and asks the European Investment Bank to end all the activities it has in place for the benefit of Turkey;
2020/10/20
Committee: BUDG
Amendment 160 #

2020/1998(BUD)

Motion for a resolution
Paragraph 65
65. Notes that, in the main, the DB reflects the estimates of the various institutions falling within the other sections of the budget and therefore matches, with some exceptions, their financial requirements; considers that the horizontal and systematic cuts proposed by the Council would therefore have a deleterious effect on the working of the institutions concerned and consequently on the vital contribution they make to the functioning of the European Union; on that account, proposes to restore the levels of the DB in almost all cases, including with regard to the establishment plans of the Court of Justice, the Economic and Social Committee, the Committee of the Regions, the Ombudsman and the European External Action Service; in line with the gentlemen’s agreement, does not modify the Council’s reading concerning the Council and the European Council;
2020/10/20
Committee: BUDG
Amendment 55 #

2020/0380(COD)

Proposal for a regulation
Recital 7
(7) In order to take into account the immediate impact of the adverse consequences of the withdrawal of the United Kingdom from the Union on the Member States and their economies and the need to adopt mitigating measures, as appropriate, prior to the expiry of the transition period, the eligibility period for implementing such measures should start as from 1 July 2020 and be concentrated over a limited period of 30 monthsextended until 31December 2022 for all sectors except fisheries, for which the eligibility period should be extended to the end of 2026, by which date the 25% cut in the value of the products caught by EU fleets in United Kingdom waters will have taken full effect.
2021/04/19
Committee: PECH
Amendment 61 #

2020/0380(COD)

Proposal for a regulation
Recital 12
(12) Prior to the payment of the pre- financing, Member States should notify the Commission of the identity of the bodies designated and of the body to which the pre-financing shall be paid, and confirm that the systems’ descriptions have been drawn up, within three months of the entry into force of this Regulation. Member States must ensure that funding is allocated to the most affected EU regions and that the national and local communities concerned are involved in decisions on the use of the reserve.
2021/04/19
Committee: PECH
Amendment 66 #

2020/0380(COD)

Proposal for a regulation
Recital 15
(15) To ensure equal treatment of all Member States and consistency in the evaluation of the applications, the Commission should assess the applications in a package. It should look in particular into the eligibility and the accuracy of the expenditure declared, the direct link of the expenditure with measures taken to address the consequences of the withdrawal and the measures put in place by the Member State concerned to avoid double funding. Upon assessment of the applications for a financial contribution from the Reserve, the Commission should clear the pre- financing paid, and recover the unused amount. In order to concentrate the support on Member States most affected by the withdrawal, where the expenditure in the Member State concerned, accepted as eligible by the Commission, exceeds the amount paid as pre-financing and 0.06% of the nominal Gross National Income (GNI) for 2021 of the Member State concerned, it should be possible to allow for a further allocation from the Reserve to that Member State within the limits of the financial resources available. Given the extent of the expected economic shock, the possibility to use the amounts recovered from the pre-financing for the reimbursement of additional expenditure by Member States should be provided for.
2021/04/19
Committee: PECH
Amendment 77 #

2020/0380(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 2
(2) ‘applicable law‘ means Union law and the national law relating to its application; for all sectors except the fisheries sector, for which the eligibility period should be extended to the end of 2026;
2021/04/19
Committee: PECH
Amendment 94 #

2020/0380(COD)

Proposal for a regulation
Article 5 – paragraph 1 – point c
(c) measures to support businesses and local communities dependent on fishing activities in the United Kingdom waters; , in the waters of its territories with special status and in the waters covered by fisheries agreements with coastal states where fishing opportunities for EU fleets have been reduced as a result of the United Kingdom’s withdrawal from the European Union;
2021/04/19
Committee: PECH
Amendment 100 #

2020/0380(COD)

Proposal for a regulation
Article 5 – paragraph 1 – point c a (new)
(c a) support measures for businesses and local communities involved in reduction of fishing opportunities compared to those set for 2020;
2021/04/19
Committee: PECH
Amendment 111 #

2020/0380(COD)

Proposal for a regulation
Article 5 – paragraph 5
5. Measures eligible under paragraph 1 may receive support from other Union programmes and instruments provided that such support does not cover the same cost.deleted
2021/04/19
Committee: PECH
Amendment 112 #

2020/0380(COD)

Proposal for a regulation
Article 5 – paragraph 5 a (new)
5 a. Measures eligible under paragraph 1 shall receive an ad hoc and flexible financial support not interfering with other ESI Funds;
2021/04/19
Committee: PECH
Amendment 129 #

2020/0380(COD)

Proposal for a regulation
Article 11 – paragraph 3 – introductory part
3. Where the accepted amount exceeds both the amount of pre-financing and 0.06% of the nominal GNI of 2021 of the Member State concerned, aAn additional amount shall be due to that Member States from the allocation referred to in Article 4(3), point (b), and any amounts carried over pursuant to Article 8(4).
2021/04/19
Committee: PECH
Amendment 134 #

2020/0380(COD)

Proposal for a regulation
Article 11 – paragraph 3 – subparagraph 1
In such a case, tThe Commission shall pay the amount exceeding the pre-financing paid to the Member State concerned or 0.06% of the nominal GNI of 2021, whichever is higherdevelop a method for allocating additional funds that takes into account the extension to 30 June2026 of the eligibility period for pre-financing for the fisheries sector impacted.
2021/04/19
Committee: PECH
Amendment 140 #

2020/0380(COD)

Proposal for a regulation
Article 16 – paragraph 1
1. By 30 June 2026, the Commission shall carry out an evaluation to examine the effectiveness, efficiency, relevance, coherence and EU added value of the Reserve, taking into account the inputs coming from the pertinent Advisory Councils and the European Parliament. The Commission may make use of all relevant information already available in accordance with Article 128 of the Financial Regulation.
2021/04/19
Committee: PECH
Amendment 131 #

2020/0374(COD)

Proposal for a regulation
Recital 11
(11) This Regulation should also complement, without prejudice to their application, the rules resulting from other acts of Union law regulating certain aspects of the provision of services covered by this Regulation, in particular Regulation (EU) 2019/1150 of the European Parliament and of the Council26 , Regulation (EU) xx/xx/EU [DSA] of the European Parliament and of the Council27 , Regulation (EU) 2016/679 of the European Parliament and of the Council28 and Directive 2002/58/EC of the European Parliament and of the Council28a, Directive (EU) 2019/790 of the European Parliament and of the Council29 , Directive (EU) 2015/2366 of the European Parliament and of the Council30 , and Directive (EU) 2010/13 of the European Parliament and of the Council31 , as well as national rules aimed at enforcing or, as the case may be, implementing that Union legislation. The Regulation does not particularise or replace any of the obligations of core platform services under Regulation (EU) 2016/679 and Directive 2002/58/EC. _________________ 26 Regulation (EU) 2019/1150 of the European Parliament and of the Council of 20 June 2019 on promoting fairness and transparency for business users of online intermediation services (OJ L 186, 11.7.2019, p. 57). 27Regulation (EU) …/.. of the European Parliament and of the Council – proposal on a Single Market For Digital Services (Digital Services Act) and amending Directive 2000/31/EC. 28 Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ L 119, 4.5.2016, p. 1). 28aDirective 2002/58/EC of the European Parliament and of the Council of 12 July 2002 concerning the processing of personal data and the protection of privacy in the electronic communications sector (Directive on privacy and electronic communications). 29 Directive (EU) 2019/790 of the European Parliament and of the Council of 17 April 2019 on copyright and related rights in the Digital Single Market and amending Directives 96/9/EC and 2001/29/ (OJ L 130, 17.5.2019, p. 92.). 30Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC ( OJ L 337, 23.12.2015, p. 35). 31Directive 2010/13/EU of the European Parliament and of the Council of 10 March 2010 on the coordination of certain provisions laid down by law, regulation or administrative action in Member States concerning the provision of audiovisual media services (Audiovisual Media Services Directive) (OJ L 95, 15.4.2010, p. 1).
2021/09/09
Committee: ECON
Amendment 161 #

2020/0374(COD)

Proposal for a regulation
Recital 26
(26) A particular subset of rules should apply to those providers of core platform services that are foreseen to enjoy an entrenched and durable position in the near future. The same specific features of core platform services make them prone to tipping: once a service provider has obtained a certain advantage over rivals or potential challengers in terms of scale or intermediation power, its position may become unassailable and the situation may evolve to the point that it is likely to become durable and entrenched in the near future. Undertakings can try to induce this tipping and emerge as gatekeeper by using some of the unfair conditions and practices regulated in this Regulation. In such a situation, it appears appropriate to intervene before the market tips irreversibly.deleted
2021/09/09
Committee: ECON
Amendment 165 #

2020/0374(COD)

Proposal for a regulation
Recital 27
(27) However, such an early intervention should be limited to imposing only those obligations that are necessary and appropriate to ensure that the services in question remain contestable and allow to avoid the qualified risk of unfair conditions and practices. Obligations that prevent the provider of core platform services concerned from achieving an entrenched and durable position in its operations, such as those preventing unfair leveraging, and those that facilitate switching and multi-homing are more directly geared towards this purpose. To ensure proportionality, the Commission should moreover apply from that subset of obligations only those that are necessary and proportionate to achieve the objectives of this Regulation and should regularly review whether such obligations should be maintained, suppressed or adapted.deleted
2021/09/09
Committee: ECON
Amendment 166 #

2020/0374(COD)

Proposal for a regulation
Recital 28
(28) This should allow the Commission to intervene in time and effectively, while fully respecting the proportionality of the considered measures. It should also reassure actual or potential market participants about the fairness and contestability of the services concerned.deleted
2021/09/09
Committee: ECON
Amendment 177 #

2020/0374(COD)

Proposal for a regulation
Recital 32
(32) To safeguard the fairness and contestability of core platform services provided by gatekeepers, it is necessary to provide in a clear and unambiguous manner for a set of harmonised obligations with regard to those services. Such rules are needed to address the risk of harmful effects of unfair practices imposed by gatekeepers, to the benefit of the business environment in the services concerned, to the benefit of users and ultimately to the benefit of society as a whole. Given the fast-moving and dynamic nature of digital markets, and the substantial economic power of gatekeepers, it is important that these obligations are effectively applied without being circumvented. To that end, the obligations in question should apply to any practices by a gatekeeper, irrespective of its form and irrespective of whether it is of a contractual, commercial, technical or any other nature, insofar as a practice corresponds to the type of practice that is the subject of one of the obligations of this Regulation. In particular, gatekeepers' actions should adequately ensure transparency, interoperability (including equitable use of and access to data) and equal treatment (for example, where anti- competitiveself-preferencing, tying or bundling may arise).
2021/09/09
Committee: ECON
Amendment 182 #

2020/0374(COD)

Proposal for a regulation
Recital 36
(36) The conduct of combining end user data from different sources or signing in users to different services of gatekeepers gives them potential advantages in terms of accumulation of data, thereby raising barriers to entry. To ensure that gatekeepers do not unfairly undermine the contestability of core platform services, they should enable their end users to freely choose to opt-in to such business practices by offering a less personalised alternative. The possibility should cover all possible sources of personal data, including own services of the gatekeeper as well as third party websites, and should be proactively presented to the end user in an explicit, clear and straightforward manner. For giving information and offering the opportunity to grant, modify or revoke consent, the gatekeeper shall provide end- users with a user-friendly as possible solution (of easy and prompt accessibility) in line with Regulation (EU) 2016/679, and, in particular, the requirement of data protection by design and data protection by default laid down in Article 25 of Regulation (EU) 2016/679.
2021/09/09
Committee: ECON
Amendment 186 #

2020/0374(COD)

Proposal for a regulation
Recital 36 a (new)
(36 a) The online platforms that are not designated as gatekeepers may still need to obtain the consent of the persons concerned before combining data across their services or with data from third- party services pursuant to the General Data Protection Regulation and/or the ePrivacy Directive. Article 5(a) of the present Regulation should therefore not be understood that platforms that are not designated as gatekeepers may freely combine personal data across services without the individual’s consent.
2021/09/09
Committee: ECON
Amendment 236 #

2020/0374(COD)

Proposal for a regulation
Recital 56
(56) The value of online search engines to their respective business users and end users increases as the total number of such users increases. Providers of online search engines collect and store aggregated datasets containing information about what users searched for, and how they interacted with, the results that they were served. Providers of online search engine services collect these data from searches undertaken on their own online search engine service and, where applicable, searches undertaken on the platforms of their downstream commercial partners. Access by gatekeepers to such ranking, query, click and view data constitutes an important barrier to entry and expansion, which undermines the contestability of online search engine services. Gatekeepers should therefore be obliged to provide access, on fair, reasonable and non-discriminatory terms, to these ranking, query, click and view data in relation to free and paid search generated by consumers on online search engine services to other providers of such services, so that these third-party providers can optimise their services and contest the relevant core platform services. Such access should also be given to third parties contracted by a search engine provider, who are acting as processors of this data for that search engine. When providing access to its search data, a gatekeeper should ensure the protection of the personal data of end users by appropriate means, without substantially degrading the quality or usefulness of the data. In this regard, the query, click and view data in relation to searches generated by individuals constitute personal data. Moreover, these data are likely to be of a highly sensitive nature because they can contribute to build up a profile of individual preferences, status (including health status), interests and convictions (including religious and political beliefs). Often due attention is not paid by the controller to the effective anonymisation of personal data and that, as a consequence, sharing this information leads to a high risk of re- identification. Indeed, given the high level of insight offered into the private life of data subjects by query, click and view data, the gatekeeper shall be able to demonstrate that anonymised query, click and view data have been adequately tested against possible re-identification risks.
2021/09/09
Committee: ECON
Amendment 254 #

2020/0374(COD)

Proposal for a regulation
Recital 60
(60) In exceptional circumstances justified on the limited grounds of public morality, public health or public security, the Commission should be able to decide that the obligation concerned does not apply to a specific core platform service. Affecting these public interests can indicate that the cost to society as a whole of enforcing a certain obligation would in a certain exceptional case be too high and thus disproportionate. The regulatory dialogue to facilitate compliance with limited suspension and exemption possibilities should ensure the proportionality of the obligations in this Regulation without undermining the intended ex ante effects on fairness and contestability.
2021/09/09
Committee: ECON
Amendment 260 #

2020/0374(COD)

Proposal for a regulation
Recital 63
(63) Following a market investigation, an undertaking providing a core platform service could be found to fulfil all of the overarching qualitative criteria for being identified as a gatekeeper. It should then, in principle, comply with all of the relevant obligations laid down by this Regulation. However, for gatekeepers that have been designated by the Commission as likely to enjoy an entrenched and durable position in the near future, the Commission should only impose those obligations that are necessary and appropriate to prevent that the gatekeeper concerned achieves an entrenched and durable position in its operations. With respect to such emerging gatekeepers, the Commission should take into account that this status is in principle of a temporary nature, and it should therefore be decided at a given moment whether such a provider of core platform services should be subjected to the full set of gatekeeper obligations because it has acquired an entrenched and durable position, or conditions for designation are ultimately not met and therefore all previously imposed obligations should be waived.
2021/09/09
Committee: ECON
Amendment 273 #

2020/0374(COD)

Proposal for a regulation
Recital 71
(71) The Commission should also be empowered to undertake onsite inspections and to interview any persons who may be in possession of useful information and to record the statements made.deleted
2021/09/09
Committee: ECON
Amendment 298 #

2020/0374(COD)

Proposal for a regulation
Article 1 – paragraph 6
6. This Regulation is without prejudice to the application of Articles 101 and 102 TFEU. It is also without prejudice to the application of: national rules prohibiting anticompetitive agreements, decisions by associations of undertakings, concerted practices and abuses of dominant positions; national competition rules prohibiting other forms of unilateral conduct insofar as they are applied to undertakings other than gatekeepers or amount to imposing additional obligations on gatekeepers; Council Regulation (EC) No 139/200438 and national rules concerning merger control; Regulation (EU) 2016/679 and Directive 2002/58/EC38a; Directive (EU) 2019/882of the European Parliament and of the Council38b; Regulation (EU) 2019/1150 and Regulation (EU) …./.. of the European Parliament and of the Council39 . _________________ 38Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings (the EC Merger Regulation) (OJ L 24, 29.1.2004, p. 1). 38a Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ L 119, 4.5.2016, p. 1) and Directive 2002/58/EC of the European Parliament and of the Council of 12 July 2002 concerning the processing of personal data and the protection of privacy in the electronic communications sector (Directive on privacy and electronic communications). 38bDirective (EU) 2019/882 of the European Parliament and of the Council of 17 April 2019 on the accessibility requirements for products and services. 39Regulation (EU) …/.. of the European Parliament and of the Council – proposal on a Single Market For Digital Services (Digital Services Act) and amending Directive 2000/31/EC.
2021/09/09
Committee: ECON
Amendment 339 #

2020/0374(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 14
(14) ‘Ancillary service’ means services provided in the context of or together with core platform services, including payment services as defined in point 3 of Article 4 and technical services which support the provision of payment services as defined in Article 3(j) of Directive (EU) 2015/2366, fulfilment, parcel delivery services as defined in Article 2 (2) of Regulation (EU) No 2018/644, freight, identification or advertising services;
2021/09/09
Committee: ECON
Amendment 345 #

2020/0374(COD)

(21 a) "Profiling" means any form of automated processing of personal data as defined in Article 4(4) of Regulation (EU) 2016/679;
2021/09/09
Committee: ECON
Amendment 346 #

2020/0374(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 21 b (new)
(21 b) "Consent" means of the data subject means any freely given, specific, informed and unambiguous indication of the data subject's wishes as defined in Article 4(11) of Regulation (EU) 2016/679;
2021/09/09
Committee: ECON
Amendment 347 #

2020/0374(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 21 c (new)
(21 c) "Data portability" means effective portability of data as referred to in Article 6(1)(h) of the present Regulation;
2021/09/09
Committee: ECON
Amendment 354 #

2020/0374(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 23 a (new)
(23 a) "Persons with disabilities" means persons within the meaning of Article 3 (1) of Directive (EU) 2019/882.
2021/09/09
Committee: ECON
Amendment 362 #

2020/0374(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point c
(c) it enjoys an entrenched and durable position in its operations or it is foreseeable that it will enjoy such a position in the near future.
2021/09/09
Committee: ECON
Amendment 372 #

2020/0374(COD)

Proposal for a regulation
Article 3 – paragraph 2 – point b – paragraph 1
for the purpose of the first subparagraph, monthly active end users shall refer to the average number of monthly active end users throughout the largest part of the last financial year;
2021/09/09
Committee: ECON
Amendment 408 #

2020/0374(COD)

Proposal for a regulation
Article 3 – paragraph 6 – subparagraph 2
In conducting its assessment, the Commission shall take into account foreseeable developments of these elements.deleted
2021/09/09
Committee: ECON
Amendment 412 #

2020/0374(COD)

Proposal for a regulation
Article 3 – paragraph 6 – subparagraph 4
Where the provider of a core platform service that does not satisfy the quantitative thresholds of paragraph 2 fails to comply with the investigative measures ordered by the Commission in a significant manner and the failure persists after the provider has been invited to comply within a reasonable time-limit and to submit observations, the Commission shall be entitled to designate that provider as a gatekeeper based on facts available.deleted
2021/09/09
Committee: ECON
Amendment 429 #

2020/0374(COD)

Proposal for a regulation
Article 5 – paragraph 1 – introductory part
In respect of each of its core platform services and ancillary services identified pursuant to Article 3(7) and Article 2 (1) (14) respectively, a gatekeeper shall:
2021/09/09
Committee: ECON
Amendment 433 #

2020/0374(COD)

Proposal for a regulation
Article 5 – paragraph 1 – point a
(a) refrain from combining personal data sourced from these core platform services with personal data from any other services offered by the gatekeeper or with personal data from third-party services, and from signing in end users to other services of the gatekeeper in order to combine personal data, unless the end user has been presented with the specific choice and provided consent in the sense of Regulation (EU) 2016/679. , and provided that resulting data is made available by the gatekeeper to third parties that provide competing advertising services, and no data advantage would be conferred upon the gatekeeper’s own core platform services as a result;
2021/09/09
Committee: ECON
Amendment 457 #

2020/0374(COD)

Proposal for a regulation
Article 5 – paragraph 1 – point e
(e) refrain from requiring business users to use, offer or interoperate with an identification service of the gatekeeperr any other ancillary services of the gatekeeper itself or by any third party belonging to the same undertaking, in the context of services offered by the business users or end users using the core platform services of that gatekeeper;
2021/09/09
Committee: ECON
Amendment 464 #

2020/0374(COD)

Proposal for a regulation
Article 5 – paragraph 1 – point f
(f) refrain from requiring business users or end users to subscribe to or register with any other core platfuse any other product orm services identified pursuant to Article 3 or which meets the thresholds in Article 3(2)(b) as a condition to access, sign up or register to of the gatekeeper as a condition to use any of their core platform services identified pursuant to that Article 3;
2021/09/09
Committee: ECON
Amendment 468 #

2020/0374(COD)

Proposal for a regulation
Article 5 – paragraph 1 – point g
(g) provide each advertisers and publishers to which it supplies advertising services, upon their request, with informawith free of charge, high-quality, granular, effective, continuous and real- time access, equivalent to that conferred upon the gatekeeper itself, to information on the visibility and availability of advertisement portfolio as well as pricing conditions concerning the bids placed by advertisers and advertising intermediaries, the price paid by the advertiser or advertising intermediary and publisher, as well as the amount orand remuneration paid to the publisher, for the publishing of a given ad and for each of the relevant advertising services provided by the gatekeeper, and on a basis that enables a clear understanding of the cost of the services provided and comparison against the cost of third-party services.
2021/09/09
Committee: ECON
Amendment 494 #

2020/0374(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point a
(a) refrain from using, in competition with business userdirectly or by any third party belonging to the same undertaking, in competition with business users and providers of ancillary services, any data not publicly available, which is generated through activities by those business users, including by the end users of these business users, of its core platform services or provided by those business users of its core platform services or by the end users of these business users;
2021/09/09
Committee: ECON
Amendment 505 #

2020/0374(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point c
(c) allow the installation and effective use of third party software applications or software application stores using, or interoperating with, operating systems of that gatekeeper and allow these software applications or software application stores to be accessed by means other than the core platform services of that gatekeeper. The gatekeeper shall not be prevented from taking proportionate measures to ensure that third party software applications or software application stores do not endanger the integrity of the hardware or operating system provided by the gatekeeper, without prejudice to the freedom of consumers, duly informed, to choose the software application or software application stores they prefer;
2021/09/09
Committee: ECON
Amendment 513 #

2020/0374(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point d
(d) refrain from treating more favourably in ranking services, both basic and ancillary, and products offered by the gatekeeper itself or by any third party belonging to the same undertaking compared to similar services or products of third party and apply fair and non- discriminatory conditions to such ranking;
2021/09/09
Committee: ECON
Amendment 537 #

2020/0374(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point g
(g) provide advertisers and publishers, upon their request and free of charge, with access to the performance measuring tools of the gatekeeper and the information necessary for advertisers and publisheor third parties authorised by advertisers and publishers, upon their request and free of charge, with effective and real time access to the same granular data accessible to the gatekeeper, for the measurement and verification of advertising, in a format that is reconcilable with equivalent data from other sources, to enable advertisers, publishers and/or their third-party advertising technology vendors to carry out their own independent measurement and verification of the ad inventory, including aggregated data and performance data in a manner that would allow advertisers and publishers to run their own verification and measurement tools to assess performance of the core services provided for by the gatekeepers;
2021/09/09
Committee: ECON
Amendment 545 #

2020/0374(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point h
(h) provide effective portability of data generated through the activity of a business user or end usernd users or third parties authorised by an end user, free of charge, with effective portability and interoperability of data provided by the end user or generated through the activity of a business user or end user in the context of their use on the relevant core platform service, and shall, in particular, provide tools for end users to facilitate the exercise of data portability, in line withffective portability of the personal data relating to her or him, including personal data generated through her or his activity as end-user of platform services in accordance with Article 20 of Regulation (EU) 2016/679, including by the provision of continuous and real-time access , while ensuring no data advantage is conferred upon the gatekeeper’s own core platform services as a result, including where necessary by placing restrictions on its own access to such data;
2021/09/09
Committee: ECON
Amendment 551 #

2020/0374(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point i
(i) provide business users, or third parties authorised by a business user, free of charge, with effective, high-quality, granular, continuous and real-time access and use of aggregated or, equivalent to that conferred upon the gatekeeper itself, and use of non- aggregated data, including personal data, that is provided for or generated in the context of the use of the relevant core platform services or of ancillary services offered by the gatekeeper by those business users and the end users engaging with the products or services provided by those business usersose business users via the core platform services; this shall include at the request of the business user, the possibility and necessary tools to access and analyse data “in-situ” without a transfer from the gatekeeper; for personal data, provide access aonly when the end user only where directly connected with the use effectuated by the end user in respect of the products or services ofpts in to such sharing with a consent in the sense of the Regulation (EU) 2016/679, while ensuring no data advantage is conferred byupon the relevant business user through the relevant core platform service, and when the end user opts in to such sharing with a consent in the sense of the Regulation (EU) 2016/679; ; gatekeeper’s own core platform services asa result, including where necessary by placing restrictions on its own access to such data. The functionalities for giving information and offering of the opportunity to grant consent should be as user-friendly as possible;
2021/09/09
Committee: ECON
Amendment 562 #

2020/0374(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point j a (new)
(j a) ensure their services, including user interfaces, are accessible to persons with disabilities in accordance with Article 13 of Directive (EU) 2019/882;
2021/09/09
Committee: ECON
Amendment 569 #

2020/0374(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point k a (new)
(k a) provide business users, or third parties authorised by a business user, free of charge, with all necessary technical information required by them to optimise the interoperation of their products or services with the gatekeeper’s core platform services, ensuring that they have access to the same level of information, in the same format and at the same time as the gatekeeper’s own distinct products or services have access in order to interoperate with each other;
2021/09/09
Committee: ECON
Amendment 575 #

2020/0374(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point k b (new)
(k b) engage in good faith in the development of industry standards, in compliance with competition law requirements, to develop data portability and interoperability protocols that comply with the provisions of Regulation (EU) 2016/679, including common transaction ID and common user ID protocols;
2021/09/09
Committee: ECON
Amendment 579 #

2020/0374(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point k c (new)
(k c) allow and encourage third party advertising services to interoperate with the gatekeeper’s advertising services on reasonable terms and in an unencumbered fashion, including competing technologies and services;
2021/09/09
Committee: ECON
Amendment 580 #

2020/0374(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point k d (new)
(k d) refrain from tying and bundling any distinct products or services, or where distinct products or services are bundled, ensure the products are also offered separately to business users on reasonable terms and on a non-discriminatory basis.
2021/09/09
Committee: ECON
Amendment 632 #

2020/0374(COD)

Proposal for a regulation
Article 9 – paragraph 2 – point a
(a) public morality;deleted
2021/09/09
Committee: ECON
Amendment 640 #

2020/0374(COD)

Proposal for a regulation
Article 10 – paragraph 2 – point a
(a) there is an imbalance of rights and obligations on business users or end-users and the gatekeeper is obtaining an advantage from business users that is disproportionate to the service provided by the gatekeeper to business users; or
2021/09/09
Committee: ECON
Amendment 644 #

2020/0374(COD)

Proposal for a regulation
Article 11 – paragraph 1
1. A gatekeeper shall ensure that the obligations of Articles 5 and 6 are fully and effectively complied with. While the obligations of Articles 5 and 6 apply in respect of core and ancillary platform services designated pursuant to Article 3 and to Article 2 (1) (14), their implementation shall not be undermined by any behaviour of the undertaking to which the gatekeeper belogatekeeper or any third party belonging to the same undertakings, regardless of whether this behaviour is of a contractual, commercial, technical or any other nature. In particular, the gatekeeper’s actions shall adequately ensure transparency, interoperability, including equitable use of and access to data, and equal treatment.
2021/09/09
Committee: ECON
Amendment 651 #

2020/0374(COD)

Proposal for a regulation
Article 11 – paragraph 2
2. Where consent for collecting and processing of personal data is required to ensure compliance with this Regulation, a gatekeeper shall take the necessary steps to either enable business users to directly obtain the required consent to their processing, where required under Regulation (EU) 2016/679 and Directive 2002/58/EC, orand to comply with Union data protection and privacy rules and principles in other ways including by providing business users with duly anonymised data where appropriate. The gatekeeper shall not make the obtaining of this consent by the business user more burdensome than for its own services.
2021/09/09
Committee: ECON
Amendment 680 #

2020/0374(COD)

Proposal for a regulation
Article 13 – paragraph 1
Within six months after its designation pursuant to Article 3, a gatekeeper shall submit to the Commission an independently audited description of any techniques for profiling of consumers that the gatekeeper applies to or across its core platform services identified pursuant to Article 3. This description shall be updated at least annually. The audited description, as well as any relevant material that is collected in the context of supervising the gatekeeper that relate to the processing of personal data, shall be shared by the Commission with the competent national data protection authorities, upon their request.
2021/09/09
Committee: ECON
Amendment 694 #

2020/0374(COD)

Proposal for a regulation
Article 15 – paragraph 4
4. When the Commission pursuant to Article 3(6) designates as a gatekeeper a provider of core platform services that does not yet enjoy an entrenched and durable position in its operations, but it is foreseeable that it will enjoy such a position in the near future, it shall declare applicable to that gatekeeper only obligations laid down in Article 5(b) and Article 6(1) points (e), (f), (h) and (i) as specified in the designation decision. The Commission shall only declare applicable those obligations that are appropriate and necessary to prevent that the gatekeeper concerned achieves by unfair means an entrenched and durable position in its operations. The Commission shall review such a designation in accordance with the procedure laid down in Article 4.deleted
2021/09/09
Committee: ECON
Amendment 728 #

2020/0374(COD)

Proposal for a regulation
Article 21
Powers to conduct on-site inspections 1. The Commission may conduct on-site inspections at the premises of an undertaking or association of undertakings. 2. On-site inspections may also be carried out with the assistance of auditors or experts appointed by the Commission pursuant to Article 24(2). 3. During on-site inspections the Commission and auditors or experts appointed by it may require the undertaking or association of undertakings to provide access to and explanations on its organisation, functioning, IT system, algorithms, data- handling and business conducts. The Commission and auditors or experts appointed by it may address questions to key personnel. 4. Undertakings or associations of undertakings are required to submit to an on-site inspection ordered by decision of the Commission. The decision shall specify the subject matter and purpose of the visit, set the date on which it is to begin and indicate the penalties provided for in Articles 26 and 27 and the right to have the decision reviewed by the Court of Justice.Article 21 deleted
2021/09/09
Committee: ECON
Amendment 763 #

2020/0374(COD)

Proposal for a regulation
Article 26 – paragraph 2 – point f
(f) fail to rectify within a time-limit set by the Commission, incorrect, incomplete or misleading information given by a member of staff, or fail or refuse to provide complete information on facts relating to the subject-matter and purpose of an inspection pursuant to Article 21;deleted
2021/09/09
Committee: ECON
Amendment 764 #

2020/0374(COD)

Proposal for a regulation
Article 26 – paragraph 2 – point g
(g) refuse to submit to an on-site inspection pursuant to Article 21.deleted
2021/09/09
Committee: ECON
Amendment 768 #

2020/0374(COD)

Proposal for a regulation
Article 27 – paragraph 1 – point d
(d) to submit to an on-site inspection which was ordered by a decision taken pursuant to Article 21;deleted
2021/09/09
Committee: ECON
Amendment 782 #

2020/0374(COD)

Proposal for a regulation
Article 31 – paragraph 1
1. The information collected pursuant to Articles 3, 12, 13, 19, 20 and 21 shall be used only for the purposes of this Regulation. It shall always be possible to exchange any relevant information among the relevant European and national authorities in accordance with their respective mandate and public service mission.
2021/09/09
Committee: ECON
Amendment 786 #

2020/0374(COD)

Proposal for a regulation
Article 32 – paragraph 1
1. The Commission shall be assisted by the Digital Markets Advisory Committee composed of representatives of the European Data Protection Board established in accordance with Article 68 of Regulation (EU) 2016/679 of the European Parliament and the Council, as well as by representatives of the competent authorities of the Member States for competition, electronic communications, audio-visual services, electoral oversight, and consumer protection. That Committee shall be a Committee within the meaning of Regulation (EU) No 182/2011.
2021/09/09
Committee: ECON
Amendment 808 #

2020/0374(COD)

Proposal for a regulation
Article 36 – paragraph 1 – point g a (new)
(g a) the practical arrangements and procedures to be adopted for the manner in which the Commission shall cooperate and work with the competent Member State authorities in the fulfilment of the functions set forth under Article 6, 7, 10, 16, 17, 24 and 25;
2021/09/09
Committee: ECON
Amendment 2 #

2020/0371(BUD)

Motion for a resolution
Article 4
4. WelcomesTakes note that the increase of EUR 185 million on top of the levels of the first DB as modified by Amending letter No 1/2020 obtained in the conciliation negotiations correspond to Parliament’s main political priorities; notes that the increases include EUR 60,3 million for the Connecting Europe Facility - Transport, EUR 42 million for LIFE, EUR 25,7 million for the Digital Europe Programme, EUR 6,6 million for the Rights and Values Programme, of which EUR 4,8 million is for Daphne), EUR 2,7 million for the Justice programme, EUR 25 million for Humanitarian Aid, as part of the EUR 500 million reinforcement for the period from 2021 to2027 as agreed in the context of the MFF, EUR 10,2 million for UNRWA under the Neighbourhood, Development and International Cooperation Instrument (NDICI) and EUR 7,3 million for the European Public Prosecutor’s Office; further notes that Amending letter No 1/2020 had already incorporated increases for the Horizon Europe, Erasmus+ and EU4Health programmes to reflect the outcome of the MFF negotiations; asks to take into account the suspension of exchanges under the Erasmus+ programme due to the COVID 19 pandemic; calls for a review of the level of allocation of funds for the Development and International Cooperation Instrument (NDICI) programme and in this regard requests the allocation of these funds to SMEs;
2020/12/14
Committee: BUDG
Amendment 4 #

2020/0371(BUD)

Motion for a resolution
Article 7 a (new)
7 a. Underlines the failure of European policies to prevent migration flows and trafficking in human beings; reiterates its concerns about the effectiveness of the decentralised agency Frontex in managing the effects of the migration and refugee crisis;
2020/12/14
Committee: BUDG
Amendment 6 #

2020/0371(BUD)

Motion for a resolution
Article 8 a (new)
8 a. Denounces and condemns Turkey's continued violations of international and EU law and democratic principles and values; demands that all funding for Turkey, in particular the budget line for civil society and NGOs which have failed in their assisted voluntary return missions, be immediately terminated; strongly condemns Turkey's provocations and repeated violations of Greek and Cypriot sovereignty;
2020/12/14
Committee: BUDG
Amendment 10 #

2020/0371(BUD)

Motion for a resolution
Article 12 a (new)
12 a. Is concerned about the EEAS's weak performance in view of its lack of coordination in the international role assigned to it by the EU, particularly in view of the diplomatic crisis with Turkey, for which only individual sanctions were imposed only last week;
2020/12/14
Committee: BUDG
Amendment 136 #

2020/0361(COD)

Proposal for a regulation
Recital 3
(3) Responsible and diligent behaviour by providers of intermediary services is essential for a safe, accessible, predictable and trusted online environment and for allowing Union citizens and other persons to exercise their fundamental rights guaranteed in the Charter of Fundamental Rights of the European Union (‘Charter’), in particular the freedom of expression and information and the freedom to conduct a business, and the right to non- discrimination.
2021/09/10
Committee: ECON
Amendment 142 #

2020/0361(COD)

Proposal for a regulation
Recital 5
(5) This Regulation should apply to providers of certain information society services as defined in Directive (EU) 2015/1535 of the European Parliament and of the Council26 , that is, any service normalfrequently provided for remuneration, at a distance, by electronic means and at the individual request of a recipient. Specifically, this Regulation should apply to providers of intermediary services, and in particular intermediary services consisting of services known as ‘mere conduit’, ‘caching’ and ‘hosting’ services, given that the exponential growth of the use made of those services, mainly for legitimate and socially beneficial purposes of all kinds, has also increased their role in the intermediation and spread of unlawful or otherwise harmful information and activitiesillegal content. _________________ 26Directive (EU) 2015/1535 of the European Parliament and of the Council of 9 September 2015 laying down a procedure for the provision of information in the field of technical regulations and of rules on Information Society services (OJ L 241, 17.9.2015, p. 1).
2021/09/10
Committee: ECON
Amendment 147 #

2020/0361(COD)

Proposal for a regulation
Recital 8
(8) Such a substantial connection to the Union should be considered to exist where the service provider has an establishment in the Union or, in its absence, on the basis of the existence of a significant number of users in one or more Member States, or the targeting of activities towards one or more Member States. The targeting of activities towards one or more Member States can be determined on the basis of all relevant circumstances, including factors such as the use of a language or a currency generally used in that Member State, or the possibility of ordering products or services, or using a national top level domain. The targeting of activities towards a Member State could also be derived from the availability of an application in the relevant national application store, from the provision of local advertising or advertising in the language used in that Member State, or from the handling of customer relations such as by providing customer service in the language generally used in that Member State. A substantial connection should also be assumed where a service provider directs its activities to one or more Member State as set out in Article 17(1)(c) of Regulation (EU) 1215/2012 of the European Parliament and of the Council27 . On the other hand, mere technical accessibility of a website from the Union cannot, on that ground alone, be considered as establishing a substantial connection to the Union. _________________ 27 Regulation (EU) No 1215/2012 of the European Parliament and of the Council of 12 December 2012 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (OJ L351, 20.12.2012, p.1).
2021/09/10
Committee: ECON
Amendment 162 #

2020/0361(COD)

Proposal for a regulation
Recital 12
(12) In order to achieve the objective of ensuring a safe, predictable and trusted online environment, for the purpose of this Regulation the concept of “illegal content” should be defined broadly and also covers information relating to illegal content, products, services and activities. In particular, that concept should be understood to refer to information, irrespective of its form, that under the applicable law is either itself illegal, such as illegal hate speech or terrorist content and unlawful discriminatory content, or that relates to activities that are illegal, such as the sharing of images depicting child sexual abuse, unlawful non- consensual sharing of private images, online stalking, cyberbullying, man in the middle (MITM) attacks, phishing, the sale of non-compliant or counterfeit products, the non-authorised use of copyright protected material or activities involving infringements of consumer protection law. In this regard, it is immaterial whether the illegality of the information or activity results from Union law or from national law that is consistent with Union lawthe criminal, administrative or civil legal framework of a Member State and what the precise nature or subject matter is of the law in question.
2021/09/10
Committee: ECON
Amendment 171 #

2020/0361(COD)

Proposal for a regulation
Recital 15 a (new)
(15a) The general collection of personal data concerning the use of digital services interferes disproportionately with the right to privacy in the digital age. In line with the principle of data minimisation and in order to prevent unauthorised disclosure, identity theft and other forms of abuse of personal data, recipients should have the possibility to access information society services and the right to use and pay for information society services anonymously wherever technically possible. Similarly, users have a right not to be subject to tracking when using information society services. To that end, the processing of personal data concerning the use of digital services should be limited to the extent strictly necessary to provide the service and to bill the users. In addition, the collection of personal data for the purposes of retention, sale or user profiling should be prohibited.
2021/09/10
Committee: ECON
Amendment 177 #

2020/0361(COD)

Proposal for a regulation
Recital 22
(22) In order to benefit from the exemption from liability for hosting services, the provider should, upon obtaining actual knowledge or awareness of illegal content, act expeditiously to remove or to disable access to that content act to remove or to disable access to the illegal content when such content is deemed to be illegal according to Union or Member State law. The removal or disabling of access should be undertaken in the observance of the principle of freedom of expression. The provider can obtain such actual knowledge or awareness throughf illegal content, in particular, its own- initiative investigations or notices submitted to it by individuals or entities in accordance with this Regulation in so far as those notices are sufficiently precise and adequately substantiated to allow a diligent economic operator to reasonably identify, assess and where appropriate act against the allegedly illegal content.
2021/09/10
Committee: ECON
Amendment 178 #

2020/0361(COD)

Proposal for a regulation
Recital 23
(23) In order to ensure the effective protection of consumers when engaging in intermediated commercial transactions online, certain providers of hosting services, namely, online platforms that allow consumers to conclude distance contracts with traders, should not be able to benefit from the exemption from liability for hosting service providers established in this Regulation, in so far as those online platforms present the relevant information relating to the transactions at issue in such a way that it leads consumers to believe that the information was provided by those online platforms themselves or by recipients of the service acting under their authority or control, and that those online platforms thus have knowledge of or control over the information, even if that may in reality not be the case. In that regard, is should be determined objectively, on the basis of all relevant circumstances, whether the presentation could lead to such a belief on the side of an average and reasonably well-informed consumer.
2021/09/10
Committee: ECON
Amendment 180 #

2020/0361(COD)

Proposal for a regulation
Recital 23 a (new)
(23a) European consumers should be able to safely purchase products and services online, regardless of whether a product or service has been produced in the Union or not. Online platforms allowing distance contracts with third- country traders should establish that before approving that trader on their platform, the third-country trader complies with the relevant Union or national law on product safety and product compliance. In addition, if the third-country trader does not provide an economic operator inside the Union liable for the product safety, online platforms should not be able to benefit from the exemption from liability for hosting service providers established in this Regulation.
2021/09/10
Committee: ECON
Amendment 189 #

2020/0361(COD)

Proposal for a regulation
Recital 28
(28) Providers of intermediary services should not be subject to a monitoring obligation with respect to obligations of a general nature, neither should they use automated moderation. This does not concern monitoring obligations in a specific case and, in particular, does not affect orders by national authorities in accordance with national legislation, in accordance with the conditions established in this Regulation. Nothing in this Regulation should be construed as an imposition of a general monitoring obligation or active fact-finding obligation, or as a general obligation for providers to take proactive measures to relation to illegal content.
2021/09/10
Committee: ECON
Amendment 203 #

2020/0361(COD)

Proposal for a regulation
Recital 36
(36) In order to facilitate smooth and efficient communications relating to matters covered by this Regulation, providers of intermediary services should be required to establish a single point of contact and to publish relevant information relating to their point of contact, including the languages to be used in such communications. The point of contact can also be used by trusted flaggers and by professional entities, which are under a specific relationship with the provider of intermediary services. In contrast to the legal representative, the point of contact should serve operational purposes and should not necessarily have to have a physical location .
2021/09/10
Committee: ECON
Amendment 207 #

2020/0361(COD)

Proposal for a regulation
Recital 38
(38) Whilst the freedom of contract of providers of intermediary services should in principle be respected, it is appropriate to set certain rules on the content, application and enforcement of the terms and conditions of those providers in the interests of transparency, the protection of recipients of the service and the avoidance of unfair or arbitrary outcomes. To this end, the use of algorithmic decision- making processes should be disclosed to users whenever they are employed.
2021/09/10
Committee: ECON
Amendment 214 #

2020/0361(COD)

Proposal for a regulation
Recital 42
(42) Where a hosting service provider decides to remove or disable information provided by a recipient of the service, for instance following receipt of a notice or acting on its own initiative, including through the use of automated means, that provider should inform the recipient of its decision, the reasons for its decision and the available redress possibilities to contest the decision, in view of the negative consequences that such decisions may have for the recipient, including as regards the exercise of its fundamental right to freedom of expression. That obligation should apply irrespective of the reasons for the decision, in particular whether the action has been taken because the information notified is considered to be illegal content or incompatible with the applicable terms and conditions. Available recourses to challenge the decision of the hosting service provider should always include judicial redress.
2021/09/10
Committee: ECON
Amendment 218 #

2020/0361(COD)

Proposal for a regulation
Recital 46
(46) Action against illegal content can be taken more quickly and reliably where online platforms take the necessary measures to ensure that notices submitted by trusted flaggers through the notice and action mechanisms required by this Regulation are treated with priority, without prejudice to the requirement to process and decide upon all notices submitted under those mechanisms in a timely, diligent and objective manner. Such trusted flagger status should only be awarded to entities, and not individuals, that have demonstrated, among other things, that they have particular expertise and competence in tackling illegal content, that they represent collective interests and that they work in a diligent and objective manner. Such entities can be public in nature, such as, for terrorist content, internet referral units of national law enforcement authorities or of the European Union Agency for Law Enforcement Cooperation (‘Europol’) or they can be non-governmental organisations and semi-public bodies, such as the organisations part of the INHOPE network of hotlines for reporting child sexual abuse material and organisations committed to notifying illegal racist and xenophobic expressions online. For intellectual property rights, organisations of industry and of right- holders could be awarded trusted flagger status, where they have demonstrated that they meet the applicable conditions. The rules of this Regulation on trusted flaggers should not be understood to prevent online platforms from giving similar treatment to notices submitted by entities or individuals that have not been awarded trusted flagger status under this Regulation, from otherwise cooperating with other entities, in accordance with the applicable law, including this Regulation and Regulation (EU) 2016/794 of the European Parliament and of the Council.43 _________________ 43Regulation (EU) 2016/794 of the European Parliament and of the Council of 11 May 2016 on the European Union Agency for Law Enforcement Cooperation (Europol) and replacing and repealing Council Decisions 2009/371/JHA, 2009/934/JHA, 2009/935/JHA, 2009/936/JHA and 2009/968/JHA, OJ L 135, 24.5.2016, p. 53deleted
2021/09/10
Committee: ECON
Amendment 222 #

2020/0361(COD)

Proposal for a regulation
Recital 47
(47) The misuse of services of online platforms by frequently providing manifestly illegal content or by frequently submitting manifestly unfounded notices or complaints under the mechanisms and systems, respectively, established under this Regulation undermines trust and harms the rights and legitimate interests of the parties concerned. Therefore, there is a need to put in place appropriate and proportionate safeguards against such misuse. Information should be considered to be manifestly illegal content and notices or complaints should be considered manifestly unfounded where it is evident to a layperson, without any substantive analysis, that the content is illegal respectively that the notices or complaints are unfounded. Under certain conditions, online platforms should temporarily suspend their relevant activities in respect of the person engaged in abusive behaviour. This is without prejudice to the freedom by online platforms to determine their terms and conditions and establish stricter measures in the case of manifestly illegal content related to serious crimes. For reasons of transparency, this possibility should be set out, clearly and in sufficiently detail, in the terms and conditions of the online platforms. Redress should always be open to the decisions taken in this regard by online platforms and they should be subject to oversight by the competent Digital Services Coordinator. The rules of this Regulation on misuse should not prevent online platforms from taking other measures to address the provision of illegal content by recipients of their service or other misuse of their services, in accordance with the applicable Union and national law. Those rules are without prejudice to any possibility to hold the persons engaged in misuse liable, including for damages, provided for in Union or national law.
2021/09/10
Committee: ECON
Amendment 228 #

2020/0361(COD)

Proposal for a regulation
Recital 48
(48) An online platform may in some instances become aware, such as through a notice by a notifying party or through its own voluntary measures, of information relating to certain activity of a recipient of the service, such as the provision of certain types of illegal content, that reasonably justify, having regard to all relevant circumstances of which the online platform is aware, the suspicion that the recipient may have committed, may be committing or is likely to commit a serious criminal offence involving a threat to the life or safety of person, such as offences specified in Directive 2011/93/EU of the European Parliament and of the Council44 . In such instances, the online platform should inform without delaypromptly inform the competent law enforcement authorities of such suspicion, providing all relevant information available to it, including where relevant the content in question and an explanation of its suspicion. This Regulation does not provide the legal basis for profiling of recipients of the services with a view to the possible identification of criminal offences by online platforms. Online platforms should also respect other applicable rules of Union or national law for the protection of the rights and freedoms of individuals when informing law enforcement authorities. _________________ 44Directive 2011/93/EU of the European Parliament and of the Council of 13 December 2011 on combating the sexual abuse and sexual exploitation of children and child pornography, and replacing Council Framework Decision 2004/68/JHA (OJ L 335, 17.12.2011, p. 1).
2021/09/10
Committee: ECON
Amendment 231 #

2020/0361(COD)

Proposal for a regulation
Recital 50
(50) To ensure an efficient and adequate application of that obligation, without imposing any disproportionate burdens, the online platforms covered should make reasonable efforts to verify the reliability of the information provided by the traders concerned, in particular by using freely available official online databases and online interfaces, such as national trade registers and the VAT Information Exchange System45 , or by requesting the traders concerned to provide trustworthy supporting documents, such as copies of identity documents, certified bank statements, company certificates and trade register certificates. They may also use other sources, available for use at a distance, which offer a similar degree of reliability for the purpose of complying with this obligation. However, the oOnline platforms covered should not be required to engage in excessive or costly online fact-finding exercises or to carry out verifications on the spot. Nor should such online platforms, which have made the reasonable efforts required by this Regulation, be understood as guamay also ask for support from the Digital Services Coordinator in carrying out these specific obligations. If the trader is established outside the Union and should not cooperate or not to provide sufficient information for the verification of its compliance with the relevant Union or Member State law, this trader should not be admitted to operate and sell its products on the platform. If the trader is already on the platform and should not meet the above criteria, the platform should suspend that trader's account. The trader should be granteeingd the reliapossibility of the information towards consumer or other interested parties. Such oredress in the event of suspension of the business account. Online platforms should also design and organise their online interface in a way that enables traders to comply with their obligations under Union law, in particular the requirements set out in Articles 6 and 8 of Directive 2011/83/EU of the European Parliament and of the Council46 , Article 7 of Directive 2005/29/EC of the European Parliament and of the Council47 and Article 3 of Directive 98/6/EC of the European Parliament and of the Council48 . _________________ 45 https://ec.europa.eu/taxation_customs/vies/ vieshome.do?selectedLanguage=en 46Directive 2011/83/EU of the European Parliament and of the Council of 25 October 2011 on consumer rights, amending Council Directive 93/13/EEC and Directive 1999/44/EC of the European Parliament and of the Council and repealing Council Directive 85/577/EEC and Directive 97/7/EC of the European Parliament and of the Council 47Directive 2005/29/EC of the European Parliament and of the Council of 11 May 2005 concerning unfair business-to- consumer commercial practices in the internal market and amending Council Directive 84/450/EEC, Directives 97/7/EC, 98/27/EC and 2002/65/EC of the European Parliament and of the Council and Regulation (EC) No 2006/2004 of the European Parliament and of the Council (‘Unfair Commercial Practices Directive’) 48Directive 98/6/EC of the European Parliament and of the Council of 16 February 1998 on consumer protection in the indication of the prices of products offered to consumers
2021/09/10
Committee: ECON
Amendment 254 #

2020/0361(COD)

Proposal for a regulation
Recital 58
(58) Very large online platforms should deploy the necessary means to diligently mitigate the systemic risks identified in the risk assessment. Very large online platforms should under such mitigating measures consider, for example, enhancing or otherwise adapting the design and functioning of their content moderation, algorithmic recommender systems and online interfaces, so that they discourage and limit the dissemination of illegal content, adapting their decision-making processes, or adapting their terms and conditions. They may also include corrective measures, such as discontinuing advertising revenue for specific content, or other actions, such as improving the visibility of authoritative information sources. Very large online platforms may reinforce their internal processes or supervision of any of their activities, in particular as regards the detection of systemic risks. They may also initiate or increase cooperation with trusted flaggers, organise training sessions and exchanges with trusted flagger organisations, and cooperate with other service providers, including by initiating or joining existing codes of conduct or other self-regulatory measures. Any measures adopted should respect the due diligence requirements of this Regulation and be effective and appropriate for mitigating the specific risks identified, in the interest of safeguarding public order, protecting privacy and fighting fraudulent and deceptive commercial practices, and should be proportionate in light of the very large online platform’s economic capacity and the need to avoid unnecessary restrictions on the use of their service, taking due account of potential negative effects on the fundamental rights of the recipients of the service.
2021/09/10
Committee: ECON
Amendment 269 #

2020/0361(COD)

Proposal for a regulation
Recital 67
(67) The Commission and the Board should encourage the drawing-up of codes of conduct to contribute to the application of this Regulation. While the implementation of codes of conduct should be measurable and subject to public oversight, this should not impair the voluntary nature of such codes and the freedom of interested parties to decide whether to participate. In certain circumstances, it is important that very large online platforms cooperate in the drawing-up and adhere to specific codes of conduct. Nothing in this Regulation prevents other service providers from adhering to the same standards of due diligence, adopting best practices and benefitting from the guidance provided by the Commission and the Board, by participating in the same codes of conduct.
2021/09/10
Committee: ECON
Amendment 273 #

2020/0361(COD)

Proposal for a regulation
Recital 68
(68) It is appropriate that this Regulation identify certain areas of consideration for such codes of conduct. In particular, risk mitigation measures concerning specific types of illegal content e.g. sharing of images depicting child sexual abuse or terrorist content, should be explored via self- and co-regulatory agreements. Another area for consideration is the possible negative impacts of systemic risks on society and democracy, such as disinformation or manipulative and abusive activities. This includes coordinated operations aimed at amplifying information, including disinformation, such as the use of bots or fake accounts for the creation of fake or misleading information, sometimes with a purpose of obtaining economic gain, which are particularly harmful for vulnerable recipients of the service, such as children. In relation to such areas, adherence to and compliance with a given code of conduct by a very large online platform may be considered as an appropriate risk mitigating measure. The refusal without proper explanations by an online platform of the Commission’s invitation to participate in the application of such a code of conduct could be taken into account, where relevant, when determining whether the online platform has infringed the obligations laid down by this Regulation.
2021/09/10
Committee: ECON
Amendment 275 #

2020/0361(COD)

Proposal for a regulation
Recital 69
(69) The rules on codes of conduct under this Regulation could serve as a basis for already established self-regulatory efforts at Union level, including the Product Safety Pledge, the Memorandum of Understanding against counterfeit goods, the Code of Conduct against illegal hate speech as well as the Code of practice on disinformation. In particular for the latter, the Commission will issue guidance for strengthening the Code of practice on disinformation as announced in the European Democracy Action Plan.
2021/09/10
Committee: ECON
Amendment 290 #

2020/0361(COD)

Proposal for a regulation
Recital 91
(91) The Board should bring together the representatives of the Digital Services Coordinators and possible other competent authorities under the chairmanship of the Commission, with a view to ensuring an careful assessment of matters submitted to it in a fully European dimension. In view of possible cross-cutting elements that may be of relevance for other regulatory frameworks at Union level, the Board should be allowed to cooperate with other Union bodies, offices, agencies and advisory groups with responsibilities in fields such as equality, including equality between women and men, and non- discrimination, data protection, electronic communications, audiovisual services, detection and investigation of frauds against the EU budget as regards custom duties, or consumer protection, as necessary for the performance of its tasks.
2021/09/10
Committee: ECON
Amendment 298 #

2020/0361(COD)

Proposal for a regulation
Recital 98
(98) In view of both the particular challenges that may arise in seeking to ensure compliance by very large online platforms and the importance of doing so effectively, considering their size and impact and the harms that they may cause, the Commission should have strong investigative and enforcement powers to allow it to investigate, enforce and monitor certain of the rules laid down in this Regulation, in full respect of the principle of proportionality and the rights and interests of the affected parties.
2021/09/10
Committee: ECON
Amendment 299 #

2020/0361(COD)

Proposal for a regulation
Recital 99
(99) In particular, the Commission should have access to any relevant documents, data and information necessaryThe Commission to open and conduct investigations and to monitor the compliance with the relevant obligations laid down in this Regulation, irrespective of who possesses the documents, data or information in question, and regardless of their form or format, their storage medium, or the precise place where they are stored. The Commission should be able to directly require that the very large online platform concerned or relevant third parties, or than individuals, provide any relevant evidence, data and information. In addition, the Commission should be able to request any relevant information from any public authority, body or agency within the Member State, or from any natural person or legal person for the purpose of this Regulation. The Commission should be empowered to require access to, and explanations relating to, data-bases and algorithms of relevant persons, and to interview, with their consent, any persons who may be in possession of useful information and to record the statements made. The Commission should also be empowered to undertake such inspections as are necessary to enforce the relevant provisions of this Regulation. Those investigatory powers aim to complement the Commission’s possibility to ask Digital Services Coordinators and other Member States’ authorities for assistance, for instance by providing information or in the exercise of those powers
2021/09/10
Committee: ECON
Amendment 308 #

2020/0361(COD)

Proposal for a regulation
Article 1 – paragraph 2 – point b
(b) set out uniform rules for a safe, accessible, predictable and trusted online environment, where fundamental rights enshrined in the Charter are effectively protected.
2021/09/10
Committee: ECON
Amendment 312 #

2020/0361(COD)

Proposal for a regulation
Article 1 – paragraph 5 – point b a (new)
(ba) Directive (EU) 2019/882;
2021/09/10
Committee: ECON
Amendment 318 #

2020/0361(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point d – introductory part
(d) ‘to offer services in the Union’ means enabling legal or natural persons in one or more Member States to use the services of the provider of information society services which has a substantial connection to the Union; such a substantial connection is deemed to exist where the provider has an establishment in the Union; in the absence of such an establishment, the assessment of a substantial connection is based on specific factual criteria, such as:
2021/09/10
Committee: ECON
Amendment 320 #

2020/0361(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point d – indent 1
— a significant number of users in one or more Member States; ordeleted
2021/09/10
Committee: ECON
Amendment 326 #

2020/0361(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point g
(g) ‘illegal content’ means any information,, which, in itself or by its reference to an or activity, including the sale of products or provision of services, which is not in compliance with Union law or the law of a Member State, irrespective of the precise subject matter or nature of that lawcriminal, administrative or civil legal framework of a Member State;
2021/09/10
Committee: ECON
Amendment 338 #

2020/0361(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point q a (new)
(qa) 'persons with disabilities' means person within the meaning of Article 3(1) of Directive(EU) 2019/882;
2021/09/10
Committee: ECON
Amendment 341 #

2020/0361(COD)

Proposal for a regulation
Article 5 – paragraph 1 – point b
(b) upon obtaining such knowledge or awareness, acts expeditiously, act to remove or to disable access to the illegal content if the content or activity is to be deemed illegal under Article 2(g).
2021/09/10
Committee: ECON
Amendment 345 #

2020/0361(COD)

Proposal for a regulation
Article 5 – paragraph 3
3. Paragraph 1 shall not apply with respect to liability under consumer protection law of online platforms allowing consumers to conclude distance contracts with traders, where such an online platform presents the specific item of information or otherwise enables the specific transaction at issue in a way that would lead an average and reasonably well-informed consumer to believe that the information, or the product or service that is the object of the transaction, is provided either by the online platform itself or by a recipient of the service who is acting under its authority or control. In addition, the liability exemption in paragraph 1 shall not apply in case an online platform allows consumers to conclude distance contracts with third-country traders when there is no economic operator inside the Union liable for the product safety on behalf of that trader.
2021/09/10
Committee: ECON
Amendment 360 #

2020/0361(COD)

Proposal for a regulation
Article 10 – paragraph 1
1. Providers of intermediary services shall establish a single point of contact allowing for direct communication, by electronic means and by telephone, with Member States’ authorities, the Commission and the Board referred to in Article 47 for the application of this Regulation.
2021/09/10
Committee: ECON
Amendment 362 #

2020/0361(COD)

Proposal for a regulation
Article 10 – paragraph 2
2. Providers of intermediary services shall make public, in a clear and user- friendly manner, the information necessary to easily identify and communicate with their single points of contact.
2021/09/10
Committee: ECON
Amendment 369 #

2020/0361(COD)

Proposal for a regulation
Article 12 – paragraph 1
1. Providers of intermediary services shall include information on any restrictions that they impose in relation to the use of their service in respect of information provided by the recipients of the service, in their terms and conditions. That information shall include information on any policies, procedures, measures and tools used for the purpose of content moderation, including algorithmic decision-making and human review. It shall be set out in clear and unambiguous language and shall be publicly available in an easily accessible format. The use of algorithmic decision-making processes shall be notified to users whenever they are applied. The users should be able, where appropriate, to switch easily from interaction with the algorithmic system to human interaction. The information shall be set out in clear and unambiguous language and shall be publicly available in an easily accessible format. Providers of intermediary services should list the restrictions in relation to the use of their service for the dissemination of content deemed illegal under Union or Member State law in a clear and user-friendly manner, and differentiate the list from the general conditions for the use of their service so as to make the user aware of what is deemed illegal under the law and what is subject to the terms and conditions for the use of the service.
2021/09/10
Committee: ECON
Amendment 374 #

2020/0361(COD)

Proposal for a regulation
Article 12 – paragraph 2
2. Providers of intermediary services shall act in a transparent, diligent, objective, non-arbitrary and proportionate manner in applying and enforcing the restrictions referred to in paragraph 1, with due regard to the rights and legitimate interests of all parties involved, including the applicable fundamental rights of the recipients of the service as enshrined in the Charter.
2021/09/10
Committee: ECON
Amendment 379 #

2020/0361(COD)

Proposal for a regulation
Article 13 – paragraph 1 – point d
(d) the number of complaints received through the internal complaint-handling system referred to in Article 17, the basis for those complaints, decisions taken in respect of those complaints, measures and tools used for the purpose of content moderation, including the impact of algorithmic decision-making compared to human review, the average time needed for taking those decisions and the number of instances where those decisions were reversed.
2021/09/10
Committee: ECON
Amendment 383 #

2020/0361(COD)

Proposal for a regulation
Article 14 – paragraph 1
1. Providers of hosting services shall put mechanisms in place to allow any individual or entity to notify them of the presence on their service of specific items of information that the individual or entity considers to be illegal content. Those mechanisms shall be easy to access, user- friendly, and allow for the submission of notices exclusively by electronic means. Any moderation system adopted either by providers of hosting services or by platforms shall not be applied to elected individuals to whom shall be recognized immunity because of their institutional role.
2021/09/10
Committee: ECON
Amendment 387 #

2020/0361(COD)

Proposal for a regulation
Article 14 – paragraph 2 – introductory part
2. The mechanisms referred to in paragraph 1 shall be such as to facilitate the submission of sufficiently precise and adequately substantiated notices, on the basis of which a diligentn economic operator can identify the illegality of the content in quesestablish, in a diligent manner and without discrimination, whether the notice concerns illegal content as defined in Article 2(g) of this Regulation. To that end, the providers shall take the necessary measures to enable and facilitate the submission of notices containing all of the following elements:
2021/09/10
Committee: ECON
Amendment 390 #

2020/0361(COD)

Proposal for a regulation
Article 14 – paragraph 2 – point a
(a) an explanation of the reasons why the individual or entity considers the information in question to be illegal content. The possibility of identifying, on the basis of a list drawn up in agreement with the Digital Service Coordinator, the type of illegal content to which the individual or entity presumes the reported content below, to should also be foreseen;
2021/09/10
Committee: ECON
Amendment 397 #

2020/0361(COD)

Proposal for a regulation
Article 14 – paragraph 3
3. Notices that include the elements referred to in paragraph 2 shall be considered to give rise to actual knowledge or awareness for the purposes of Article 5 in respect of the specific item of information concerned.deleted
2021/09/10
Committee: ECON
Amendment 401 #

2020/0361(COD)

Proposal for a regulation
Article 14 – paragraph 6
6. Providers of hosting services shall process any notices that they receive under the mechanisms referred to in paragraph 1, and take their decisions in respect of the information to which the notices relate, in a timely, diligent, fair and objective manner. Where they use automated means for that processing or decision-making, they shall include information on such use in the notification referred to in paragraph 4.
2021/09/10
Committee: ECON
Amendment 404 #

2020/0361(COD)

Proposal for a regulation
Article 15 – paragraph 2 – point a
(a) whether the decision entails either the removal of, or the disabling of access to, the information and, where relevant, the territorial scope of the disabling of access and the duration;
2021/09/10
Committee: ECON
Amendment 405 #

2020/0361(COD)

Proposal for a regulation
Article 15 – paragraph 2 – point c
(c) where applicable, information on the use made of automated means in taking the decision, including where the decision was taken in respect of content detected or identified using automated means;
2021/09/10
Committee: ECON
Amendment 417 #

2020/0361(COD)

Proposal for a regulation
Article 17 – paragraph 1 – introductory part
1. Online platforms shall provide recipients of the service, for a period of at least six months following the decision referred to in this paragraph, the access to an effective and user-friendly internal complaint-handling system, which enables the complaints to be lodged electronically and free of charge, against the following decisions taken by the online platform on the ground that the information provided by the recipients is illegal content or incompatible with its terms and conditions:
2021/09/10
Committee: ECON
Amendment 419 #

2020/0361(COD)

Proposal for a regulation
Article 17 – paragraph 1 – point a
(a) decisions to remove, restrict, modify or disable access to the information;
2021/09/10
Committee: ECON
Amendment 422 #

2020/0361(COD)

Proposal for a regulation
Article 17 – paragraph 2
2. Online platforms shall ensure that their internal complaint-handling systems are easy to access, user-friendly and enable and facilitate the submission of sufficiently precise and adequately substantiated complaints. Online platforms shall set out the rules of procedure of their internal complaint handling system in a clear and user-friendly manner. The complainant should be able to enter free written explanations in addition to the pre- established complaint options.
2021/09/10
Committee: ECON
Amendment 425 #

2020/0361(COD)

Proposal for a regulation
Article 17 – paragraph 3
3. Online platforms shall handle complaints submitted through their internal complaint-handling system in a timely, diligent and objectiveobjective and transparent manner. Where a complaint contains sufficient grounds for the online platform to consider that the information to which the complaint relates is not illegal and is not incompatible with its terms and conditions, or contains information indicating that the complainant’s conduct does not warrant the suspension or termination of the service or the account, it shall reverse its decision referred to in paragraph 1 without undue delay.
2021/09/10
Committee: ECON
Amendment 428 #

2020/0361(COD)

Proposal for a regulation
Article 17 – paragraph 4
4. Online platforms shall promptly inform complainants without undue delay of the decision they have taken in respect of the information to which the complaint relates and shall inform complainants of the possibility of out-of-court dispute settlement provided for in Article 18 and other available redress possibilities.
2021/09/10
Committee: ECON
Amendment 431 #

2020/0361(COD)

(c) the dispute settlement is easily accessible, including for persons with disabilities, through electronic communication technology;
2021/09/10
Committee: ECON
Amendment 432 #

2020/0361(COD)

Proposal for a regulation
Article 18 – paragraph 2 – point d
(d) it is capable of settling dispute in a swift, efficient, accessible for persons with disabilities, and cost-effective manner and in at least one official language of the Union and at least in the language of the recipient to whom the decision referred to in Article 17 is addressed;
2021/09/10
Committee: ECON
Amendment 433 #

2020/0361(COD)

Proposal for a regulation
Article 18 – paragraph 2 – point e
(e) the dispute settlement takes place in accordance with clear and fair, fair and transparent rules of procedure.
2021/09/10
Committee: ECON
Amendment 434 #

2020/0361(COD)

Proposal for a regulation
Article 18 – paragraph 3 – introductory part
3. If the body decides the dispute in favour of the recipient of the service, the online platform shall reimburse the recipient for any fees and other reasonable expenses that the recipient has paid or is to pay in relation to the dispute settlement. If the body decides the dispute in favour of the online platform, the recipient shall not be required to reimburse any fees or other expenses that the online platform paid or is to pay in relation to the dispute settlement.
2021/09/10
Committee: ECON
Amendment 437 #

2020/0361(COD)

Proposal for a regulation
Article 19
[...]deleted
2021/09/10
Committee: ECON
Amendment 448 #

2020/0361(COD)

Proposal for a regulation
Article 20 – paragraph 1
1. Online platforms shall suspend, for a reasonablespecified period of time and, after having issued a prior warning and provided a comprehensive explanation, the provision of their services to recipients of the service that frequently provide manifestly illegal content. The online platform may request support from the Digital Service Coordinator to establish the frequency for which account suspension is deemed necessary and to set the duration of the suspension.
2021/09/10
Committee: ECON
Amendment 452 #

2020/0361(COD)

Proposal for a regulation
Article 20 – paragraph 2
2. Online platforms shall suspend, for a reasonablespecified period of time and after having issued at least three prior warnings, the processing of notices and complaints submitted through the notice and action mechanisms and internal complaints- handling systems referred to in Articles 14 and 17, respectively, by individuals or entities or by complainants that frequently submit notices or complaints that are manifestly unfounded.
2021/09/10
Committee: ECON
Amendment 453 #

2020/0361(COD)

Proposal for a regulation
Article 20 – paragraph 3 – point a
(a) the absolute numbers of items of manifestly illegal content or manifestly unfounded notices or complaints, submitted in the past year;
2021/09/10
Committee: ECON
Amendment 455 #

2020/0361(COD)

Proposal for a regulation
Article 20 – paragraph 3 a (new)
3a. The assessment must be carried out by qualified staff provided with dedicated training on the applicable legal framework.
2021/09/10
Committee: ECON
Amendment 460 #

2020/0361(COD)

Proposal for a regulation
Article 21 – paragraph 2 – introductory part
2. Where the online platform cannot identify with reasonable certainty the Member State concerned, it shall inform without undue delay the law enforcement authorities of the Member State in which it is established or has its legal representative or inform Europol.
2021/09/10
Committee: ECON
Amendment 463 #

2020/0361(COD)

Proposal for a regulation
Article 22 – paragraph 1 – introductory part
1. Where an online platform allows consumers to conclude distance contracts with traders, it shall ensure that traders can only use its services to promote messages on or to offer products or services to consumers located in the Union if, prior to the use of its services, the online platform has obtained the following information:
2021/09/10
Committee: ECON
Amendment 465 #

2020/0361(COD)

Proposal for a regulation
Article 22 – paragraph 1 – point c
(c) the bank account details of the trader, where the trader is a natural person;
2021/09/10
Committee: ECON
Amendment 467 #

2020/0361(COD)

Proposal for a regulation
Article 22 – paragraph 1 – point f
(f) a self-certification by the trader committing to only offerthat products or services thatprovided comply with the applicable rules of Union lawrelevant Union or national law on product safety and product compliance.
2021/09/10
Committee: ECON
Amendment 469 #

2020/0361(COD)

Proposal for a regulation
Article 22 – paragraph 2
2. The online platform shall, upon receiving that information, make reasonable efforts to assessassess, with the support of the Digital Service Coordinator if needed, whether the information referred to in points (a), (d) and (e) of paragraph 1 is reliable through the use of any freely accessible official online database or online interface made available by a Member States or the Union or through requests to the trader to provide supporting documents from reliable sourcesand official sources. Online platforms allowing distance contracts with third-country traders should establish that the third-country trader complies with the relevant Union or national law on product safety and product compliance before giving them access its services offered in the Union and, where appropriate, with the support of the Digital service Coordinator. The Digital Service Coordinator may request support from market surveillance or customs authorities to assess the information provided by the trader.
2021/09/10
Committee: ECON
Amendment 472 #

2020/0361(COD)

Proposal for a regulation
Article 22 – paragraph 4
4. The online platform shall store the information obtained pursuant to paragraph 1 and 2 in a secure manner for the duration of their contractual relationship with the trader concerned. They shall subsequently, asking the trader to notify any changes and confirm the information held by the online platform once a year. After the contractual relationship has ended, the online platform shall delete the information.
2021/09/10
Committee: ECON
Amendment 474 #

2020/0361(COD)

Proposal for a regulation
Article 23 – paragraph 1 – point b
(b) the number of suspensions imposed pursuant to Article 20, distinguishing between suspensions enacted for the provision of manifestly illegal content, the submission of manifestly unfounded notices and the submission of manifestly unfounded complaints;
2021/09/10
Committee: ECON
Amendment 475 #

2020/0361(COD)

Proposal for a regulation
Article 23 – paragraph 2
2. Online platforms shall publish, at least once every six months, information on the average monthly active recipients of the service in each Member State, calculated as an average over the period of the past six months, in accordance with the methodology laid down in the delegated acts adopted pursuant to Article 25(2).
2021/09/10
Committee: ECON
Amendment 487 #

2020/0361(COD)

Proposal for a regulation
Article 24 – paragraph 1 a (new)
Special attention shall be given to recipients of the service who are minors. When advertising is addressed to minors, online platforms shall indicate in a clear, easy and unambiguous manner that such advertising targets this group of recipients.
2021/09/10
Committee: ECON
Amendment 499 #

2020/0361(COD)

Proposal for a regulation
Article 26 – paragraph 1 – point b
(b) any negative effects for the exercise of the fundamental rights to respect for private and family life, freedom of expression and information, the prohibition of discrimination, including through algorithmic biases, and the rights of the child, as enshrined in Articles 7, 11, 21 and 24 of the Charter respectively;
2021/09/10
Committee: ECON
Amendment 504 #

2020/0361(COD)

Proposal for a regulation
Article 26 – paragraph 2
2. When conducting risk assessments, very large online platforms shall take into account, in particular, how their content moderation systems, recommender systems and systems for selecting and displaying advertisement influence any of the systemic risks referred to in paragraph 1, including the potentially rapid and wide dissemination of illegal content and of information that is incompatible with their terms and conditions.
2021/09/10
Committee: ECON
Amendment 506 #

2020/0361(COD)

Proposal for a regulation
Article 27 – paragraph 1 – introductory part
1. Very large online platforms shall put in place reasonable, proportionate and effective mitigation measures, tailored to the specific systemic risks identified pursuant to Article 26. Such measures may include, where applicable:
2021/09/10
Committee: ECON
Amendment 507 #

2020/0361(COD)

Proposal for a regulation
Article 27 – paragraph 1 – point a
(a) adaptchecking content moderation or recommender systems, their decision- making processes, the features or functioning of their services, or their terms and conditions;
2021/09/10
Committee: ECON
Amendment 510 #

2020/0361(COD)

(d) initiating or adjusting cooperation with trusted flaggers in accordance with Article 19;deleted
2021/09/10
Committee: ECON
Amendment 511 #

2020/0361(COD)

Proposal for a regulation
Article 27 – paragraph 2 – introductory part
2. The Board, in cooperation with the Commission, shall publish comprehensive reports, once a year, which shall include the following:
2021/09/10
Committee: ECON
Amendment 513 #

2020/0361(COD)

Proposal for a regulation
Article 27 – paragraph 2 – point b
(b) best practices for very large online platforms to mitigate the systemic risks identifideleted.
2021/09/10
Committee: ECON
Amendment 516 #

2020/0361(COD)

Proposal for a regulation
Article 27 – paragraph 3
3. The Commission, in cooperation with the Digital Services Coordinators, may issue general guidelines on the application of paragraph 1 in relation to specific risks, in particular to present best practices and recommend possible measures, having due regard to the possible consequences of the measures on fundamental rights enshrined in the Charter of all parties involved. When preparing those guidelines the Commission shall organise public consultations.deleted
2021/09/10
Committee: ECON
Amendment 519 #

2020/0361(COD)

Proposal for a regulation
Article 28 – paragraph 1 – introductory part
1. Very large online platforms shall be subject, at their own expense and at least once a year, to independent audits to assess compliance with the following:
2021/09/10
Committee: ECON
Amendment 522 #

2020/0361(COD)

Proposal for a regulation
Article 28 – paragraph 2 – point b
(b) have proven expertise in the area of risk management, technical competence and capabilities certified by qualified and accredited certification body; ;
2021/09/10
Committee: ECON
Amendment 527 #

2020/0361(COD)

Proposal for a regulation
Article 28 – paragraph 4
4. Very large online platforms receiving an audit report that is not positive shall take due account of any operational recommendations addressed to them with a view to take the necessary measures to implement them. They shall, within one month from receiving those recommendations, adopt an audit implementation report setting out those measures. Where they do not implement the operational recommendations, they shall justify in the audit implementation report the reasons for not doing so and set out any alternative measures they may have taken to address any instances of non-compliance identified.
2021/09/10
Committee: ECON
Amendment 539 #

2020/0361(COD)

Proposal for a regulation
Article 30 – paragraph 2 – point d
(d) whether the advertisement was intended to be displayed specifically to one or more particular groups of recipients of the service and if so, the main parameters used for that purpose;deleted
2021/09/10
Committee: ECON
Amendment 549 #

2020/0361(COD)

Proposal for a regulation
Article 34 – paragraph 1 – point b
(b) electronic submission of notices by trusted flaggers under Article 19, including through application programming interfaces;deleted
2021/09/10
Committee: ECON
Amendment 552 #

2020/0361(COD)

Proposal for a regulation
Article 35 – paragraph 2
2. Where significant systemic risk within the meaning of Article 26(1) emerge and concern several very large online platforms, the Commission, in agreement with the Board, may invite the very large online platforms concerned, other very large online platforms, other online platforms and other providers of intermediary services, as appropriate, as well as civil society organisations and other interested parties, to participate in the drawing up of codes of conduct, including by setting out commitments to take specific risk mitigation measures, as well as a regular reporting framework on any measures taken and their outcomes.
2021/09/10
Committee: ECON
Amendment 559 #

2020/0361(COD)

Proposal for a regulation
Article 39 – paragraph 1
1. Member States shall ensure that their Digital Services Coordinators perform their tasks under this Regulation in an impartial, transparent and timely manner. Member States shall ensure that their Digital Services Coordinators have adequate technical, financial and human resources to carry out their tasks. Similarly Member States shall ensure that Digital Services Coordinators have all the competences and powers provided for by the current national laws.
2021/09/10
Committee: ECON
Amendment 562 #

2020/0361(COD)

Proposal for a regulation
Article 40 – paragraph 3
3. Where a provider of intermediary services fails to appoint a legal representative in accordance with Article 11, all Member States shall have jurisdiction for the purposes of Chapters III and IV. Where a Member State decides to exercise jurisdiction under this paragraph, it shall inform all other Member States andto ensure that the principle of ne bis in idem is respected.
2021/09/10
Committee: ECON
Amendment 563 #

2020/0361(COD)

Proposal for a regulation
Article 41 – paragraph 1 – point b
(b) the power to carry out on-site inspections of any premises that those providers or those persons use for purposes related to their trade, business, craft or profession, or to request other public authorities to do so, in order to examine, seize, take or obtain copies of information relating to a suspected infringement in any form, irrespective of the storage medium;deleted
2021/09/10
Committee: ECON
Amendment 564 #

2020/0361(COD)

Proposal for a regulation
Article 41 – paragraph 1 – point c
(c) the power to ask any member of staff or representative of those providers or those persons to give explanations in respect of any information relating to a suspected infringement and to record the answers.deleted
2021/09/10
Committee: ECON
Amendment 565 #

2020/0361(COD)

Proposal for a regulation
Article 41 – paragraph 2 – point b
(b) the power to order the cessation of infringements and, where appropriate, to impose remedies proportionate to the infringement and necessary to bring the infringement effectively to an end;deleted
2021/09/10
Committee: ECON
Amendment 566 #

2020/0361(COD)

Proposal for a regulation
Article 41 – paragraph 2 – point e
(e) the power to adopt interim measures to avoid the risk of serious harm.deleted
2021/09/10
Committee: ECON
Amendment 567 #

2020/0361(COD)

Proposal for a regulation
Article 41 – paragraph 3 – point a
(a) require the management body of the providers, within a reasonable time period, to examine the situation, adopt and submit an action plan setting out the necessary measures to terminate the infringement, ensure that the provider takes those measures, and report on the measures taken within a specific period;
2021/09/10
Committee: ECON
Amendment 568 #

2020/0361(COD)

Proposal for a regulation
Article 41 – paragraph 3 – point b
(b) where the Digital Services Coordinator considers that the provider has not sufficiently complied with the requirements of the first indent, that the infringement persists and causes serious harm, and that the infringement entails a serious criminal offence involving a threat to the life or safety of persons, request the competent judicial authority of that Member State to order the temporary restriction of access of recipients of the service concerned by the infringement or, only where that is not technically feasible, to the online interface of the provider of intermediary services on which the infringement takes place.
2021/09/10
Committee: ECON
Amendment 577 #

2020/0361(COD)

Proposal for a regulation
Article 48 – paragraph 1
1. The Board shall be composed of the Digital Services Coordinators, who shall be represented by high-level officials. Where provided for by national law, other competent authorities entrusted with specific operational responsibilities for the application and enforcement of this Regulation alongside the Digital Services Coordinator shall participate in the Board. Other national authorities may be invited to the meetings, where the issues discussed are of relevance for them. The meeting is deemed valid when at least two third of the eligible members are present.
2021/09/10
Committee: ECON
Amendment 578 #

2020/0361(COD)

Proposal for a regulation
Article 48 – paragraph 2 – subparagraph 1
The Board shall adopt its acts by simple majority. In the event of a tied vote, the vote shall be considered void and a new vote shall be held by the Board.
2021/09/10
Committee: ECON
Amendment 585 #

2020/0361(COD)

Proposal for a regulation
Article 50 – paragraph 1 – subparagraph 1
The Commission acting on its own initiative, or the Board acting on its own initiative or upon request of at least three Digital Services Coordinators of destination, may, where it has reasons to suspect that a very large online platform infringed any of those provisions, recommend the Digital Services Coordinator of establishment to investigate the suspected infringement with a view to that Digital Services Coordinator adopting such a decision within a reasonable time period.
2021/09/10
Committee: ECON
Amendment 587 #

2020/0361(COD)

Proposal for a regulation
Article 50 – paragraph 2
2. When communicating the decision referred to in the first subparagraph of paragraph 1 to the very large online platform concerned, the Digital Services Coordinator of establishment shall request it to draw up and communicate to the Digital Services Coordinator of establishment, the Commission and the Board, within one month from that decision, an action plan, specifying how that platform intends to terminate or remedy the infringement. The measures set out in the action plan may includerecommend, where appropriate, participation in a code of conduct as provided for in Article 35.
2021/09/10
Committee: ECON
Amendment 591 #

2020/0361(COD)

Proposal for a regulation
Article 51 – paragraph 1 – introductory part
1. The Commission, acting either upon the Board’s recommendation or on its own initiative after consulting the Board, may initiate proceedings in view of the possible adoption of decisions pursuant to Articles 58 and 59 in respect of the relevant conduct by the very large online platform that:
2021/09/10
Committee: ECON
Amendment 592 #

2020/0361(COD)

Proposal for a regulation
Article 51 – paragraph 2 – introductory part
2. Where the Commission decides to initiate proceedings pursuant to paragraph 1, it shall notify all Digital Services Coordinators, the Board and the very large online platform concerned. If the Commission decides not to initiate proceedings pursuant to paragraph 1, it shall inform the Board in writing of its reasons.
2021/09/10
Committee: ECON
Amendment 597 #

2020/0361(COD)

Proposal for a regulation
Article 54
Power to conduct on-site inspections 1. In order to carry out the tasks assigned to it under this Section, the Commission may conduct on-site inspections at the premises of the very large online platform concerned or other person referred to in Article 52(1). 2. On-site inspections may also be carried out with the assistance of auditors or experts appointed by the Commission pursuant to Article 57(2). 3. During on-site inspections the Commission and auditors or experts appointed by it may require the very large online platform concerned or other person referred to in Article 52(1) to provide explanations on its organisation, functioning, IT system, algorithms, data- handling and business conducts. The Commission and auditors or experts appointed by it may address questions to key personnel of the very large online platform concerned or other person referred to in Article 52(1). 4. The very large online platform concerned or other person referred to in Article 52(1) is required to submit to an on-site inspection ordered by decision of the Commission. The decision shall specify the subject matter and purpose of the visit, set the date on which it is to begin and indicate the penalties provided for in Articles 59 and 60 and the right to have the decision reviewed by the Court of Justice of the European Union.Article 54 deleted
2021/09/10
Committee: ECON
Amendment 602 #

2020/0361(COD)

Proposal for a regulation
Article 55 – paragraph 1
1. In the context of proceedings which may lead to the adoption of a decision of non-compliance pursuant to Article 58(1), where there is an urgency due to the risk of serious damage for the recipients of the service, the Commission may, by decisionafter consulting the Board, order interim measures against the very large online platform concerned on the basis of a prima facie finding of an infringement.
2021/09/10
Committee: ECON
Amendment 605 #

2020/0361(COD)

Proposal for a regulation
Article 56 – paragraph 1
1. If, during proceedings under this Section, the very large online platform concerned offers commitments to ensure compliance with the relevant provisions of this Regulation, the Commission may by decision, after consulting the Board, make those commitments binding on the very large online platform concerned and declare that there are no further grounds for action.
2021/09/10
Committee: ECON
Amendment 606 #

2020/0361(COD)

Proposal for a regulation
Article 56 – paragraph 3
3. Where the Commission considers that the commitments offered by the very large online platform concerned are unable to ensure effective compliance with the relevant provisions of this Regulation, it shall reject those commitments in a reasoned decision, in agreement with the Board, when concluding the proceedings.
2021/09/10
Committee: ECON
Amendment 610 #

2020/0361(COD)

Proposal for a regulation
Article 58 – paragraph 1 – introductory part
1. The Commission shall adopt a non- compliance decision, after consulting the Board, where it finds that the very large online platform concerned does not comply with one or more of the following:
2021/09/10
Committee: ECON
Amendment 616 #

2020/0361(COD)

Proposal for a regulation
Article 58 – paragraph 5
5. Where the Commission finds that the conditions of paragraph 1 are not met, it shall close the investigation by a decision approved by the Board.
2021/09/10
Committee: ECON
Amendment 622 #

2020/0361(COD)

Proposal for a regulation
Article 59 – paragraph 2 – point c
(c) refuse to submit to an on-site inspection pursuant to Article 54.deleted
2021/09/10
Committee: ECON
Amendment 623 #

2020/0361(COD)

Proposal for a regulation
Article 59 – paragraph 3
3. Before adopting the decision pursuant to paragraph 2, the Commission shall communicate its preliminary findings to the very large online platform concerned or other person referred to in Article 52(1) and to the Board.
2021/09/10
Committee: ECON
Amendment 626 #

2020/0361(COD)

Proposal for a regulation
Article 60 – paragraph 1 – point b
(b) submit to an on-site inspection which it has ordered by decision pursuant to Article 54;deleted
2021/09/10
Committee: ECON
Amendment 631 #

2020/0361(COD)

Proposal for a regulation
Article 61 – paragraph 3 – point b
(b) on-site inspection;deleted
2021/09/10
Committee: ECON
Amendment 20 #

2020/0349(COD)

Proposal for a regulation
Recital 14
(14) One of Europol’s objectives is to support and strengthen action by the competent authorities of the Member States and their mutual cooperation in preventing and combatting forms of crime which affect a common interest covered by a Union policy. To strengthen that support, Europol should be able, in a sensible and measured regulatory framework, to request the competent authorities of a Member State to initiate, conduct or coordinate a criminal investigation of a crime, which affects a common interest covered by a Union policy, even where the crime concerned is not of a cross-border nature. Europol should inform Eurojust of such requests.
2021/04/19
Committee: BUDG
Amendment 22 #

2020/0349(COD)

Proposal for a regulation
Recital 17
(17) Data collected in criminal investigations have been increasing in size and have become more complex. Member States submit large and complex datasets to Europol, requesting Europol’s operational analysis to detect links to other crimes and criminals in other Member States and outside the Union. Member States cannot detect such cross-border links through their own analysis of the data. Europol should be able to support Member States’ criminal investigations by processing large and complex datasets to detect such cross- border links where the strict requirements set out in this Regulation are fulfilled. Where necessary to support effectively a specific criminal investigation in a Member State, Europol should be able to process those data sets that national authorities have acquired in the context of that criminal investigation in accordance with procedural requirements and safeguards applicable under their national criminal law and subsequently submitted to Europol. Where a Member State provides Europol with an investigative case file requesting Europol’s support for a specific criminal investigation, Europol should be able to process all data contained in that file for as long as it supports that specific criminal investigation. Europol should also be able to process personal data that is necessary for its support to a specific criminal investigation in a Member State if that data originates from a third country, provided that the third country is subject to a Commission decision finding that the country ensures an adequate level of data protection (‘adequacy decision’), or, in the absence of an adequacy decision, an international agreement concluded by the Union pursuant to Article 218 TFEU, or a cooperation agreement allowing for the exchange of personal data concluded between Europol and the third country prior to the entry into force of Regulation (EU) 2016/794, and provided that the third county acquired the data in the context of a criminal investigation in accordance with procedural requirements and safeguards applicable under its national criminal law. In view of the high degree of confidentiality of the data collected by Europol, the level of security against cyber-attacks or intrusions into the system should be increased to a maximum.
2021/04/19
Committee: BUDG
Amendment 25 #

2020/0349(COD)

Proposal for a regulation
Recital 32 a (new)
(32a) The Commission should ensure that the new Europol decryption platform will not be used to circumvent data protection standards and that it will maintain closely protected access rights to retrieved data.
2021/04/19
Committee: BUDG
Amendment 35 #

2020/0349(COD)

Proposal for a regulation
Recital 46
(46) This Regulation respects the fundamental rights and observes the principles recognised in particular by the Charter of Fundamental Rights of the European Union, in particular the right to the protection of personal data and the right to privacy as protected by Articles 8 and 7 of the Charter, as well as by Article 16 TFEU. Given the importance of the processing of personal data for the work of law enforcement in general, and for the support provided by Europol in particular, this Regulation includes effective safeguards to ensure full compliance with fundamental rights as enshrined in the Charter of Fundamental Rights. Any processing of personal data under this Regulation is limited to what is strictly necessary and proportionate, and subject to clear conditions, strict requirements and effective supervision by the EDPS. The new technology for the decryption platform should be subject to the appropriate data protection protocols, while ensuring that it does not pose a threat to fundamental rights.
2021/04/19
Committee: BUDG
Amendment 152 #

2020/0267(COD)

Proposal for a regulation
Recital 5
(5) In order to allow for the development of crypto-assets that qualify as financial instruments and DLT, while preserving a high level of financial stability, market integrity, transparency and investor protection, it would be useful to create a pilot regime for DLT market infrastructures. A pilot regime for DLT market infrastructures should allow such DLT market infrastructures to be temporarily exempted from some specific requirements under the Union financial services legislation that could otherwise prevent them from developing solutions for the trading and settlement of transactions in crypto-assets that qualify as financial instruments. The establishment of the pilot regime should not adversely affect the tasks and responsibilities of the European Central Bank (ECB) and national central banks in the European System of Central Banks (ESCB), as provided for in the Treaty on the Functioning of the European Union and the Statute of the ESCB and of the ECB, to promote the smooth operation of payment systems and to ensure efficient and reliable clearing and payment systems within the Union and with other countries. The pilot regime should also enable the European Securities and Markets Authorities (ESMA) and competent authorities to gain experience on the opportunities and specific risks created by crypto-assets that qualify as financial instruments, and by their underlying technology.
2021/05/26
Committee: ECON
Amendment 214 #

2020/0267(COD)

Proposal for a regulation
Recital 30
(30) A DLT market infrastructure should have specific and robust IT and cyber arrangements related to the use of DLT. These arrangements should be proportionate to the nature, scale and complexity of the DLT market infrastructure’s business plan. These arrangements should also ensure the continued reliability, continuity and security of the services provided, including the reliability of smart contracts that are potentially used. DLT market infrastructures should also ensure the integrity, security, confidentiality, availability and accessibility of data stored on the DLT. These measures should be in line with the obligations set out in Article 32 of Regulation (EU) 2016/679 ('the General Data Protection Regulation') concerning the implementation of technical and organisational security measures that can ensure a level of security appropriate to the risk. With regard to smart contracts, the provisions of Article 22(1) of the General Data Protection Regulation should apply, according to which a data subject shall have the right not to be subject to a decision based solely on automated processing, including profiling, which produces legal effects concerning him or her or similarly significantly affects him or her. The competent authority of a DLT market infrastructure should be allowed to request an audit to ensure that the overall IT and cyber arrangements are fit for purpose. The costs of such an audit should be borne by the DLT market infrastructure.
2021/05/26
Committee: ECON
Amendment 216 #

2020/0267(COD)

Proposal for a regulation
Recital 30 a (new)
(30a) In the event of a personal data breach, the DLT market infrastructure operator should also notify the relevant data protection supervisory authority, in accordance with the General Data Protection Regulation. The notification referred to in Article 9(1)(b) should not be construed as an alternative to, or substitute for, the notification referred to in Article 33 of the aforementioned Regulation.
2021/05/26
Committee: ECON
Amendment 371 #

2020/0267(COD)

Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1
They shall also have up-to-date, clear and detailed publically available written documentation, which may be made available by electronic means, defining the rules under which the DLT market infrastructure shall operate, including the agreed upon associated legal terms defining the rights, obligations, responsibilities and liabilities of the operator of the DLT market infrastructure, as well as that of the members, participants, issuers and/or clients using the DLT market infrastructure concerned. The same documentation shall also include the privacy notice containing the list of processing operations carried out in connection with the DLT market infrastructure, together with the roles and responsibilities of the entities involved in the processing of personal data. Such legal arrangements shall specify the governing law, the pre-litigation dispute settlement mechanism and the jurisdiction for bringing legal action.
2021/05/26
Committee: ECON
Amendment 392 #

2020/0267(COD)

Proposal for a regulation
Article 6 – paragraph 6 a (new)
6a. Where activities relating to the operation of DLT market infrastructure involve the processing of personal data, at least one of the two conditions set out in Article 6(b) or (c) of of Regulation (EU) 2016/67 must be met.
2021/05/26
Committee: ECON
Amendment 498 #

2020/0267(COD)

Proposal for a regulation
Article 10 a (new)
Article 10a Where it considers it necessary, ESMA may provide for the publication of interim reports to provide market participants with information on the functioning of the markets, to address any misconduct by operators, to provide clarifications on the application of this Regulation and its implementing acts and to update previous indications in accordance with the evolution of DLT.
2021/05/26
Committee: ECON
Amendment 185 #

2020/0266(COD)

Proposal for a regulation
Recital 30
(30) With ICT threats becoming more complex and sophisticated, good detection and prevention measures depend to a great extent on regular threat and vulnerability intelligence sharing between financial entities. Information sharing contributes to increased awareness on cyber threats, which, in turn, enhances financial entities’ capacity to prevent threats from materialising into real incidents and enables financial entities to better contain the effects of ICT-related incidents and recover more efficiently. In the absence of guidance at Union level, several factors seem to have inhibited such intelligence sharing, notably uncertainty over the compatibility with the data protection, anti-trust and liability rulesanti-trust and liability rules. Data protection does not constitute an obstacle to intelligence sharing in the financial sector because data protection requirements should be perceived as a basic requirement, which should be complied with to ensure that the rights of individuals within the data operational resilience framework of financial entities are safeguarded. In that regard, the national data protection authorities (DPAs) have an important role to play in promoting public awareness and understanding of the risks, rules, safeguards and rights in relation to data processing, as well as the awareness of controllers and processors in relation to their obligations under the General Data Protection Regulation. Moreover, the European Data Protection Board's guidance set out in its guidelines, recommendations and best practices encourages consistent application of the General Data Protection Regulation.
2021/06/01
Committee: ECON
Amendment 303 #

2020/0266(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 16
(16) ‘ICT services’ means digital and data services provided through the ICT systems to one or more internal or external users, including provision of data, on an ongoing basis, including data entry, data storage, data processing and reporting services, data monitoring as well as data based business and decision support services, hardware as a service, and hardware services which encompass technical support via software or firmware updates by the hardware provider;
2021/06/01
Committee: ECON
Amendment 331 #

2020/0266(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 50 a (new)
(50 a) 'competent authorities' means national competent authorities in accordance with Article 41 or, for credit institutions considered to be significant, the ECB pursuant to Regulation (EU) No 1024/2013.
2021/06/01
Committee: ECON
Amendment 348 #

2020/0266(COD)

Proposal for a regulation
Article 5 – paragraph 1
1. Financial entities shall have a sound, comprehensive and well- documented ICT risk management framework, which enables them to address ICT risk quickly, efficiently and comprehensively and to ensure a high level of digital operational resilience that matches their business needs, size and, complexity and risk profile. Such ICT risk management framework shall be based on the three lines of defense model.
2021/06/01
Committee: ECON
Amendment 370 #

2020/0266(COD)

Proposal for a regulation
Article 5 – paragraph 10
10. Upon notification to, and approval of, competent authorities, financial entities may delegatoutsource the tasks of verifying compliance with the ICT risk management requirements to intra-group or external undertakings. Where such outsourcing occurs, the financial entity shall remain fully accountable for the verification of compliance with ICT risk management requirements.
2021/06/01
Committee: ECON
Amendment 422 #

2020/0266(COD)

Proposal for a regulation
Article 10 – paragraph 4
4. Financial entities shall put in place, maintain and periodically test appropriate ICT business continuitResponse and Recovery plans, notably with regard to critical or important functions outsourced or contracted through arrangements with ICT third-party service providers.
2021/06/01
Committee: ECON
Amendment 426 #

2020/0266(COD)

Proposal for a regulation
Article 10 – paragraph 5 – point a
(a) test the ICT Bbusiness Ccontinuity Ppolicy and the ICT Disaster Recovery Plan at least yearly and after substantive changes to the ICT systems following a risk-based approach;
2021/06/01
Committee: ECON
Amendment 552 #

2020/0266(COD)

Proposal for a regulation
Article 21 – paragraph 4
4. Financial entities shall ensure that tests, including threat led penetration testing, are undertaken by independent parties, whether internal or external. In the case of an internal tester, an adequate analysis and identification of the proper resources to be allocated in the design and execution phases of the tests shall be performed, in order to avoid any conflicts of interest and other potential managerial issues.
2021/06/01
Committee: ECON
Amendment 579 #

2020/0266(COD)

Proposal for a regulation
Article 23 – paragraph 4 a (new)
4 a. Results of threat led penetration testing, including those performed under the European Framework for Threat Intelligence-based Ethical Red Teaming (TIBER-EU), shall be mutually recognized within the Union among competent authorities.
2021/06/01
Committee: ECON
Amendment 618 #

2020/0266(COD)

Proposal for a regulation
Article 26 – paragraph 2 – subparagraph 1 a (new)
With regard to the respect of data protection referred to point (a), financial entities shall comply with the requirement of Chater V of Regulation (EU) 2016/679, as interpreted in the case-law of the Court of Justice of the European Union.
2021/06/01
Committee: ECON
Amendment 653 #

2020/0266(COD)

Proposal for a regulation
Article 28 – paragraph 2 – introductory part
2. The designation referred to in point (a) of paragraph 1 shall be based on all of the following criteria: -a) on the basis of a structured risk-based approach which takes into account both the provider and the nature of the service it provides;
2021/06/01
Committee: ECON
Amendment 660 #

2020/0266(COD)

Proposal for a regulation
Article 28 – paragraph 2 a (new)
2 a. The designation shall not apply in relation to intragroup ICT third-party service providers.
2021/06/01
Committee: ECON
Amendment 23 #

2020/0265(COD)

Proposal for a regulation
Recital 3
(3) Some crypto-assets qualify as financial instruments as defined in Article 4(1), point (15), of Directive 2014/65/EU of the European Parliament and of the Council33. Because of the specific features linked to their innovative and technological aspects, however, it is necessary to clearly identify the requirements for classifying a crypto-asset as a financial instrument. For this purpose, the European Securities and Markets Authority (ESMA) should be tasked by the European Commission with publishing guidelines in order to reduce legal uncertainty and guarantee a level playing field for market operators. The majority of crypto-assets, however, fall outside of the scope of Union legislation on financial services. There are no rules for services related to crypto-assets, including for the operation of trading platforms for crypto- assets, the service of exchanging crypto- assets against fiat currency or other crypto- assets, or the custody of crypto- assets. The lack of such rules leaves holders of crypto- assets exposed to risks, in particular in areas not covered by consumer protection rules. The lack of such rules can also lead to substantial risks to market integrity in the secondary market of crypto-assets, including market manipulation. To address those risks, some Member States have put in place specific rules for all – or a subset of – crypto-assets that fall outside Union legislation on financial services. Other Member States are considering to legislate in this area. _________________ 33Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (OJ L 173, 12.6.2014, p. 349).
2021/06/03
Committee: ECON
Amendment 37 #

2020/0265(COD)

Proposal for a regulation
Recital 5 a (new)
(5a) When thinking about its harmonised framework, the Union should also consider the need for a global conference on the regulation of crypto- assets in order to find jointly agreed solutions and avoid legislative ‘dumping’ that would jeopardise the financial and banking stability of Member States, and to prevent the creation of legislative discrepancies that are detrimental to consumer protection.
2021/06/03
Committee: ECON
Amendment 46 #

2020/0265(COD)

Proposal for a regulation
Recital 8
(8) Any legislation adopted in the field of crypto-assets should be specific, future- proof and be able to keep pace with innovation and technological developments and be based on incentivising approaches in order to ensure a consistent national legal competence, as well as rapid development for the industry. ‘Crypto- assets’ and ‘distributed ledger technology’ should therefore be defined as widely as possible to capture all types of crypto- assets which currently fall outside the scope of current Union legislation on financial services. Such legislation should also contribute to the objective of combating money laundering and the financing of terrorism. Any definition of ‘crypto-assets’ should therefore correspond to the definition of ‘virtual assets’ set out in the recommendations of the Financial Action Task Force (FATF)34. For the same reasonIn order to avoid damaging or infringing Member States’ national competences in relation to control over their fiscal and monetary policies, any list of crypto-asset services should also encompass virtual asset services that are likely to raise money- laundering concerns and that are identified as such by the FATF. _________________ 34FATF (2012-2019), International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation, FATF, Paris, France (www.fatf- gafi.org/recommendations.html).
2021/06/03
Committee: ECON
Amendment 54 #

2020/0265(COD)

Proposal for a regulation
Recital 9
(9) A distinction should be made between three sub-categories of crypto- assets, which should be subject to more specific requirements. The first sub- category consists of a type of crypto-asset which is intended to provide digital access to a good or service, available on DLT, and that is only accepted by the issuer of that token (‘utility tokens’). Such ‘utility tokens’ have non-financial purposes related to the operation of a digital platform and digital services and should be considered as a specific type of crypto-assets. A second sub-category of crypto-assets are ‘asset-referenced tokens’. Such asset- referenced tokens aim at maintaining a stable value by referencing several currencies that are legal tender, one or several commodities, one or several crypto-assets, or a basket of such assets. By stabilising their value, those asset- referenced tokens often aim at being used by their holders as a means of paymentexchange to buy goods and services and as a store of value. A third sub-category of crypto- assets are crypto-assets that are intended primarily as a means of paymentexchange aim at stabilising their value by referencing only one fiat currency. The function of such crypto-assets is very similar to the function of electronic money, as defined in in Article 2, point 2, of Directive 2009/110/EC of the European Parliament and of the Council35. Like electronic money, such crypto-assets are electronic surrogates for coins and banknotes and are used for making payments. These crypto- assets are defined as ‘electronic money tokens’ or ‘e-money tokens’. _________________ 35Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC (OJ L 267, 10.10.2009, p. 7).
2021/06/03
Committee: ECON
Amendment 59 #

2020/0265(COD)

Proposal for a regulation
Recital 10
(10) Despite their similarities, electronic money and crypto-assets referencing a single fiat currency differ in some important aspects. Holders of electronic money as defined in Article 2, point 2, of Directive 2009/110/EC are always provided with a claim on the electronic money institution and have a contractual right to redeem their electronic money at any moment against fiat currency that is legal tender at par value with that currency. By contrast, some of the crypto-assets referencing one fiat currency which is legal tender do not provide their holders with such a claim on the issuers of such assets and could fall outside the scope of Directive 2009/110/EC. Other crypto-asset referencing one fiat currency do not provide a claim at par with the currency they are referencing or limit the redemption period. The fact that holders of such crypto-assets do not have a claim on the issuers of such assets, or that such claim is not at par with the currency those crypto-assets are referencing, could undermine the confidence of users of those crypto-assets. To avoid circumvention of the rules laid down in Directive 2009/110/EC, any definition of ‘e-money tokens’ should be as wide as possible to capture all the types of crypto-assets referencing one single fiat currency that is legal tender. To avoid regulatory arbitrage, strict conditions on the issuance of e- money tokens should be laid down, including the obligation for such e-money tokens to be issued either by a credit institution as defined in Regulation (EU) No 575/2013 of the European Parliament and of the Council36, or by an electronic money institution authorised under Directive 2009/110/EC. For the same reason, issuers of such e-money tokens should also grant the users of such tokens with a claim to redeem their tokens at any moment and at par value against the currency referencing those tokens. E- money tokens should reference any global currency that is legal tender. Because e- money tokens are also crypto-assets and can also raise new challenges in terms of consumer protection and market integrity specific to crypto-assets, they should also be subject to rules laid down in this Regulation to address these challenges to consumer protection and market integrity. However, since the various crypto-assets pose different risks and challenges for national economies, partly because of unknown factors in determining their value, stabilising crypto-assets to a single legal currency provides more secure uses for consumers and investors. _________________ 36Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).
2021/06/03
Committee: ECON
Amendment 94 #

2020/0265(COD)

(29) A competent authority should be obliged to refuse authorisation where the prospective issuer of asset-referenced tokens’ business model may pose a serious threat to financial stability, monetary policy transmission and monetary sovereignty. The competent authority should be obliged to consult the EBA and ESMA and, where the asset- referenced tokens isare referencing Union currencies, the European Central Bank (ECB) and the national central bank of issue of such currencies before granting an authorisation or refusing an authorisation. The EBA, ESMA, and, where applicable, the ECB and the national central banks should provide the competent authority with a non-bindingn opinion on the prospective issuer’s application. Opinions should be non- binding with the exception of those of the ECB and the Member States’ central banks on monetary policy enforcement and ensuring the secure handling of payments. Where authorising a prospective issuer of asset- referenced tokens, the competent authority should also approve the crypto-asset white paper produced by that entity. The authorisation by the competent authority should be valid throughout the Union and should allow the issuer of asset-referenced tokens to offer such crypto-assets in the Single Market and to seek an admission to trading on a trading platform for crypto- assets. In the same way, the crypto-asset white paper should also be valid for the entire Union, without possibility for Member States to impose additional requirements.
2021/06/03
Committee: ECON
Amendment 146 #

2020/0265(COD)

Proposal for a regulation
Recital 76 a (new)
(76a) In order to avoid dysfunctional legislation that could hinder the development of crypto-assets and proper consumer protection, when transposing this Regulation Member States should ensure that their legislation does not create legislative discrepancies between national and European legislation that could give rise to legal uncertainty.
2021/06/03
Committee: ECON
Amendment 167 #

2020/0265(COD)

Proposal for a regulation
Article 2 – paragraph 2 – point e a (new)
(ea) payment instruments with restrictions on spending under point (k) in the first paragraph of Article 3 of Directive (EU 2015/2366.
2021/06/03
Committee: ECON
Amendment 176 #

2020/0265(COD)

Proposal for a regulation
Article 2 – paragraph 3 – point g a (new)
(ga) crypto-asset service providers, credit institutions and electronic money institutions, authorised under Article 2(1) of Directive 2009/110/EC, when they are operating or providing a service for the entities or persons referred to in points (a) to (g);
2021/06/03
Committee: ECON
Amendment 177 #

2020/0265(COD)

Proposal for a regulation
Article 2 – paragraph 3 – point g b (new)
(gb) persons that develop and enable services for open source crypto-assets in which the inspection, modification, use or redistribution of source code is permitted;
2021/06/03
Committee: ECON
Amendment 191 #

2020/0265(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 1
(1) ‘distributed ledger technology’ or ‘DLT’ means a type of technology that support the distributed recording of encrypted dataprotocols that enable members to agree a single source of truth through consensus mechanisms in a distributed network;
2021/06/03
Committee: ECON
Amendment 200 #

2020/0265(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 3
(3) ‘asset-referenced token’ means a type of crypto-asset that purports to maintain a stable value by referring to the value of several fiatofficial currencies that are legal tender, one or several commodities or one or several crypto-assets, or a combination of such assets;
2021/06/03
Committee: ECON
Amendment 208 #

2020/0265(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 4
(4) ‘electronic money token’ or ‘e- money token’ means a type of crypto-asset the main purpose of which is to be used as a means of exchange and that purports to maintain a stable value by referring to the value of a fiat currency that is legal tendern official currency;
2021/06/03
Committee: ECON
Amendment 219 #

2020/0265(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 6 a (new)
(6a) ‘offeror of crypto-assets’ means a legal person who offers to the public any type of crypto-asset or seeks the admission of such crypto-assets to a trading platform for crypto-assets;
2021/06/03
Committee: ECON
Amendment 224 #

2020/0265(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 6 b (new)
(6b) ‘decentralised cryptocurrencies’ means cryptocurrencies issued and exchanged in a decentralised system, where no single entity has the effective control over the transactions, including the issuance and offering of such cryptocurrencies;
2021/06/03
Committee: ECON
Amendment 229 #

2020/0265(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 7
(7) ‘offer to the public’ means an offer made on a professional basis to third parties to acquire a crypto-asset in exchange for fiat currency or other crypto- assets;
2021/06/03
Committee: ECON
Amendment 239 #

2020/0265(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 9 – point h a (new)
(ha) the exchange of crypto-assets for financial instruments
2021/06/03
Committee: ECON
Amendment 242 #

2020/0265(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 9 – point h b (new)
(hb) the provision of a portfolio management service;
2021/06/03
Committee: ECON
Amendment 246 #

2020/0265(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 28 a (new)
(28a) ‘portfolio management service’ means the management, on a discretionary and tailored basis, of crypto- asset portfolios in accordance with mandates from clients;
2021/06/03
Committee: ECON
Amendment 249 #

2020/0265(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point 21
(21) ‘reserve assets’ means the basket of fiat currencies that are legal tenderofficial national currencies, commodities or crypto-assets, backing the value of an asset-referenced tokens, or the investment of such assets;
2021/06/03
Committee: ECON
Amendment 264 #

2020/0265(COD)

Proposal for a regulation
Article 3 – paragraph 2
2. The Commission is empowered to adopt delegated acts in accordance with Article 121 to specify technical elements of the definitions laid down in paragraph 1, and to adjust those definitions to market developments and technological developments.
2021/06/03
Committee: ECON
Amendment 278 #

2020/0265(COD)

Proposal for a regulation
Article 4 – paragraph 2 – point b
(b) the crypto-assets are automatically created through mining as a reward for the maintenance of the DLT or the validation of transactions;deleted
2021/06/03
Committee: ECON
Amendment 286 #

2020/0265(COD)

Proposal for a regulation
Article 4 – paragraph 2 – point e
(e) over a period of 12 months, the total consideration of an offer to the public of crypto-assets in the Union does not exceed EUR 18 000 000, or the equivalent amount in another currency or in crypto- assets;
2021/06/03
Committee: ECON
Amendment 348 #

2020/0265(COD)

Proposal for a regulation
Article 7 – paragraph 1
1. Competent authorities shall not require an ex ante approval of a crypto- asset white paper, nor of any marketing communications relating to it before their publication. It shall, however, be possible for issuers of crypto-assets, other than asset-referenced tokens or e-money tokens, to ask the competent authority for ex-ante approval of a white paper. The approval of the crypto-asset white paper shall be valid throughout the Union.
2021/06/03
Committee: ECON
Amendment 355 #

2020/0265(COD)

Proposal for a regulation
Article 7 – paragraph 3 – point d a (new)
(da) payment instruments with restrictions on spending under point (k) in the first paragraph of Article 3 of Directive (EU) 2015/2366;
2021/06/03
Committee: ECON
Amendment 411 #

2020/0265(COD)

Proposal for a regulation
Article 16 – paragraph 5 – subparagraph 1
5. The EBA shall, in close cooperation with ESMA, develop draft implementing technical standards to establish standard forms, templates and procedures for the application for authorisation, including the standard requirements to be met by the legal opinion referred to in point (d) of paragraph 2,in order to ensure uniformity across the Union.
2021/06/03
Committee: ECON
Amendment 434 #

2020/0265(COD)

Proposal for a regulation
Article 18 – paragraph 4
4. The EBA, ESMA, the ECB and, where applicable, a central bank as referred to in paragraph 3 shall, within 2 months after having received the draft decision and the application file, issue a non-bindingn opinion on the application and transmit their non-binding opinions to the competent authority concerned. Opinions shall be non-binding with the exception of those of the ECB and the Member States’ central banks on the application of monetary policy and ensuring the secure handling of payments. That competent authority shall duly consider those non-binding opinions and the observations and comments of the applicant issuer. If the ECB or, where applicable, a central bank referred to in paragraph 3, issues a negative opinion due to monetary policy or payment considerations, the competent authority must refuse the application for authorisation and inform the applicant issuer of the decision.
2021/06/03
Committee: ECON
Amendment 520 #

2020/0265(COD)

Proposal for a regulation
Article 34 – paragraph 1
1. Issuers of asset-referenced tokens that invest a part of the reserve assets shall invest those reserve assets only in highly liquid financial instruments with minimal market, concentration and credit risk. The investments shall be capable of being liquidated rapidly with minimal adverse price effect.
2021/06/03
Committee: ECON
Amendment 524 #

2020/0265(COD)

Proposal for a regulation
Article 34 – paragraph 4 –subparagraph 1 – point c a (new)
(ca) liquidity requirements establishing which percentage of the reserve assets should be made up of daily maturing assets, reverse repurchase agreements which are able to be terminated by giving one working day’s prior notice or cash which is able to be withdrawn by giving one working day’s prior notice;
2021/06/03
Committee: ECON
Amendment 526 #

2020/0265(COD)

Proposal for a regulation
Article 34 – paragraph 4 – subparagraph 1 – point c b (new)
(cb) liquidity requirements establishing which percentage of the reserve assets should be comprised of weekly maturing assets, reverse repurchase agreements which are able to be terminated by giving five working days’ prior notice or cash which is able to be withdrawn by giving five working days’ prior notice;
2021/06/03
Committee: ECON
Amendment 529 #

2020/0265(COD)

Proposal for a regulation
Article 34 – paragraph 4 – subparagraph 1 – point c c (new)
(cc) concentration requirements preventing the issuer from investing more than a certain percentage of assets issued by a single body;
2021/06/03
Committee: ECON
Amendment 532 #

2020/0265(COD)

Proposal for a regulation
Article 34 – paragraph 4 – subparagraph 1 – point c d (new)
(cd) concentration requirements preventing the issuer from keeping in custody more than a certain percentage of crypto-assets or assets with crypto-assets service providers or credit institutions belonging to the same group, as defined in Article 2(11) of Directive 2013/34/EU of the European Parliament and of the Council1a. _________________ 1aDirective 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (OJ L 182, 29.6.2013, p. 19).
2021/06/03
Committee: ECON
Amendment 543 #

2020/0265(COD)

Proposal for a regulation
Article 35 – paragraph 1
1. Issuers of asset-referenced tokens shall establish, maintain and implement clear and detailed policies and procedures on the rights granted to holders of asset- referenced tokens, including any direct claim or redemption rights on the issuer of those asset-referenced tokens or on the reserve assetany direct claim or redemption rights on the reserve assets. Issuers of asset-referenced tokens shall grant the right of redemption of asset- referenced tokens, either immediately or, at the latest, within two working days.
2021/06/03
Committee: ECON
Amendment 602 #

2020/0265(COD)

Proposal for a regulation
Article 37 – paragraph 1
1. Any natural or legal person or such persons acting in concert (the ‘proposed acquirer’), who intends to acquire, directly or indirectly, a qualifying holding in an issuer of asset-referenced tokens or to further increase, directly or indirectly, such a qualifying holding so that the proportion of the voting rights or of the capital held would reach or exceed 10 %, 20 %, 30 % or 50 %, or so that the issuer of asset- referenced tokens would become its subsidiary (the ‘proposed acquisition’), shall notify the competent authority of that issuer thereof in writing, indicating the size of the intended holding and the information required by the regulatory technical standards adopted by the Commission in accordance with Article 38(4).
2021/06/03
Committee: ECON
Amendment 603 #

2020/0265(COD)

Proposal for a regulation
Article 37 – paragraph 2
2. Any natural or legal person who has taken a decision to dispose, directly or indirectly, of a qualifying holding in an issuer of asset-referenced tokens (the ‘proposed vendor’) shall first notify the competent authority in writing thereof, indicating the size of such holding. Such a person shall likewise notify the competent authority where it has taken a decision to reduce a qualifying holding so that the proportion of the voting rights or of the capital held would fall below 10 %, 20 %, 30 % or 50 % or so that the issuer of asset- referenced tokens would cease to be that person’s subsidiary.
2021/06/03
Committee: ECON
Amendment 678 #

2020/0265(COD)

Proposal for a regulation
Article 43 – paragraph 2 a (new)
2a. E-money tokens offered to the public in Member States or admitted to trading on a trading platform for crypto- assets may reference any global currency that is legal tender.
2021/06/03
Committee: ECON
Amendment 689 #

2020/0265(COD)

Proposal for a regulation
Article 44 – paragraph 5
5. Issuers of e-money tokens shall prominently state the conditions of redemption, including any fees relating thereto, in the crypto-asset white paper as referred to in Article 46. In any event, redemption shall be immediate or within no more than two working days.
2021/06/03
Committee: ECON
Amendment 879 #

2020/0265(COD)

Proposal for a regulation
Article 61 – paragraph 9 a (new)
9a. Crypto-asset service providers shall comply with their obligations under Directive (EU) 2015/849 and shall put in place the necessary procedures for the effective prevention, detection and investigation of money laundering and terrorist financing in accordance with Directive (EU) 2015/849.
2021/06/03
Committee: ECON
Amendment 882 #

2020/0265(COD)

Proposal for a regulation
Article 61 – paragraph 9 b (new)
9b. Crypto-asset service providers that transfer crypto-assets for payment purposes must have internal control mechanisms and effective procedures to ensure full traceability of all crypto-asset transfers within the EEA and transfers of crypto-assets from the EEA to other regions and from other regions to the EEA, in accordance with the provisions of Regulation (EU) 2015/847.
2021/06/03
Committee: ECON
Amendment 926 #

2020/0265(COD)

8. Crypto-asset service providers that are authorised for the operation of a trading platform for crypto-assets shall complete the final settlement of a crypto-asset transaction on the DLT, in the case of crypto-asset deposit or withdrawal activities only, on the same date as the transactions has been executed on the trading platform or, in the case of transactions settled outside the DLT, on the closing day of the various related transactions.
2021/06/03
Committee: ECON
Amendment 964 #

2020/0265(COD)

Proposal for a regulation
Article 74 – paragraph 1
1. Any natural or legal person or such persons acting in concert (the ‘proposed acquirer’), who have taken a decision either to acquire, directly or indirectly, a qualifying holding in a crypto-asset service provider or to further increase, directly or indirectly, such a qualifying holding in a crypto-asset service provider so that the proportion of the voting rights or of the capital held would reach or exceed 10 %, 20 %, 30 % or 50 % or so that the crypto- asset service provider would become its subsidiary (the ‘proposed acquisition’), shall notify the competent authority of that crypto-asset service provider thereof in writing indicating the size of the intended holding and the information required by the regulatory technical standards adopted by the Commission in accordance with Article 75(4).
2021/06/03
Committee: ECON
Amendment 965 #

2020/0265(COD)

Proposal for a regulation
Article 74 – paragraph 2
2. Any natural or legal person who has taken a decision to dispose, directly or indirectly, of a qualifying holding in a crypto-asset service provider (the ‘proposed vendor’) shall first notify the competent authority in writing thereof, indicating the size of such holding. Such a person shall likewise notify the competent authority where it has taken a decision to reduce a qualifying holding so that the proportion of the voting rights or of the capital held would fall below 10%, 20%, 30% or 50% or so that the crypto-asset service provider would cease to be that person’s subsidiary.
2021/06/03
Committee: ECON
Amendment 969 #

2020/0265(COD)

Proposal for a regulation
Article 77 – paragraph 1
1. Issuers and offerors of crypto- assets shall inform the public as soon as possible of inside information which concerns them, in a manner that enables the public to access that information in an easy manner and to assess that information in a complete, correct and timely manner.
2021/06/03
Committee: ECON
Amendment 976 #

2020/0265(COD)

2. Issuers and offerors of crypto- assets may, on their own responsibility, delay disclosure to the public of inside information provided that all of the following conditions are met:
2021/06/03
Committee: ECON
Amendment 982 #

2020/0265(COD)

Proposal for a regulation
Article 77 – paragraph 2 – point a
(a) immediate disclosure is likely to prejudice the legitimate interests of the issuers or the offerors, as applicable;
2021/06/03
Committee: ECON
Amendment 986 #

2020/0265(COD)

Proposal for a regulation
Article 77 – paragraph 2 – point c
(c) the issuers or the offerors, as applicable, are able to ensure the confidentiality of that information.
2021/06/03
Committee: ECON
Amendment 994 #

2020/0265(COD)

Proposal for a regulation
Article 82 – paragraph 1 – subparagraph 1 – point a
(a) to require crypto-asset service providers and the natural or legal persons that control them or are controlled by them, to provide information and documents; where there are reasonable grounds for believing that the information and documents provided are not in line with this Regulation, the competent authority may require crypto-asset service providers and the natural or legal persons who control them, or who are controlled by them, to amend the information and documents or to produce new ones, within one month of the request;
2021/06/03
Committee: ECON
Amendment 995 #

2020/0265(COD)

Proposal for a regulation
Article 82 – paragraph 1 – subparagraph 1 – point b
(b) to require members of the management body of the crypto-asset service providers to provide information; where there are reasonable grounds for believing that the information provided is not in line with this Regulation, the competent authority may require the members of the management body of the crypto-asset service providers to amend the information and documents or to produce new ones, within one month of the request;
2021/06/03
Committee: ECON
Amendment 1120 #

2020/0265(COD)

Proposal for a regulation
Article 122 – paragraph 1
1. By … [3618 months after the date of entry into force of this Regulation] after consulting the EBA and ESMA, the Commission shall present a report to the European Parliament and the Council on the application of this Regulation, where appropriate accompanied by a legislative proposal.
2021/06/03
Committee: ECON
Amendment 1142 #

2020/0265(COD)

Proposal for a regulation
Article 123 – paragraph 1
1. By way of derogation from this Regulation and for a temporary period of six months from the entry into force of this Regulation, Articles 4 to 14 shall not apply to crypto-assets, other than asset- referenced tokens and e-money tokens, which were offered to the publicpublicly offered in the Union or admitted to trading on a trading platform for crypto-assets before [please insert date of entry into application]in the case of crypto- assets not subject to Articles 4 to 14.
2021/06/03
Committee: ECON
Amendment 44 #

2020/0155(COD)

Proposal for a regulation
Recital 10 a (new)
(10 a) Article 23 of Regulation (EU) 2017/1129 regulates the supplements to the prospectus and specifies when the right of withdrawal ends. Financial intermediaries should clearly inform their clients at least once of the possibility of a supplement being published, and where and when it would be published. When subscribing to securities within the initial subscription period, financial intermediaries should inform their clients of their right to withdraw acceptances and facilitate the procedure when investors exercise their right of withdrawal. If a supplement is published, financial intermediaries must contact their clients. The communication is made by electronic means only if requested by the client.
2020/11/03
Committee: ECON
Amendment 52 #

2020/0155(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2 a (new)
Regulation (EU) 2017/1129
Article 7 – paragraph 12a – point b
(2 a) in Article 7(3), the point b is replaced by the following: "(b) be written in a language and a style that facilitate the understanding of the information, in particular, in language that is clear, non-technical, concise and comprehensible for investors. If written in a different language, the summary note shall be translated in the official language used in the State where the product is distributed and the translation shall faithfully and accurately reflect the content of the original document."
2020/11/03
Committee: ECON
Amendment 53 #

2020/0155(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2 b (new)
Regulation (EU) 2017/1129
Article 7 – paragraph 4 – point c
(2 b) in Article 7(4), the point c is replaced by the following: "c) all direct and indirect costs and charges borne by the retail investor that are associated with an investment product;"
2020/11/03
Committee: ECON
Amendment 54 #

2020/0155(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2 c (new)
Regulation (EU) 2017/1129
Article 7 – paragraph 5 – subparagraph 2– point a
(2 c) in Article 7(5), point a of the second subparagraph is replaced by the following: "(a) the summary should be a stand-alone document, clearly separated from marketing material, and shall be prepared in a common format;"
2020/11/03
Committee: ECON
Amendment 55 #

2020/0155(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2 d (new)
Regulation (EU) 2017/1129
Article 7 – paragraph 5 –subparagraph 2 a (new)
(2 d) in Article 7(5), the following subparagraph is added: "An investor who demonstrates loss resulting from reliance on the summary under the circumstances referred to in point (e) of the second subparagraph, when making an investment into a product for which that summary was produced, may claim damages for that loss in accordance with national law."
2020/11/03
Committee: ECON
Amendment 79 #

2020/0155(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point a
Regulation (EU) 2017/1129
Article 23 – paragraph 2 – subparagraph 1
2. Where the prospectus relates to an offer of securities to the public, investors who have already agreed to purchase or subscribe for the securities before the supplement is published shall have the right, exercisable within three working days after the publication of the supplement, to withdraw their acceptances, provided that the significant new factor, material mistake or material inaccuracy referred to in paragraph 1 arose or was noted before the closing of the offer period or the delivery of the securities, whichever occurs first. The right to withdraw is exercisable within three working days after the publication of the supplement. That period may be extended by the issuer or the offeror. The final date of the right of withdrawal shall be stated in the supplement.;
2020/11/03
Committee: ECON
Amendment 86 #

2020/0155(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point b
Regulation (EU) 2017/1129
Article 23 – paragraph 3 – subparagraph 2
Where the investors referred to in the first subparagraph of this paragraph have the right of withdrawal referred to in paragraph 2, the financial intermediary shall contact those investors within one working day after the publicatithe business day following the one ofn which the supplement has been published.;
2020/11/03
Committee: ECON
Amendment 57 #

2020/0148(CNS)

Proposal for a directive
Recital 15
(15) The objective of preventing tax evasion and avoidance could be ensured by requiring digital platform operators to report income earned through platforms at an early stage, before the national tax authorities carry out their yearly tax assessments. To facilitate the work of Member States’ tax authorities, the reported information should be exchanged within one month following the reporting. In order to facilitate the automatic exchange of information and enhance the efficient use of resources, exchanges should be carried out electronically through the existing common communication network (‘CCN’) developed by the Union. So as to avoid additional bureaucratic burdens for SMEs, digital platform operators with annual revenues below EUR 50 million globally and EUR 10 million in the EU as a whole should be able to continue to provide information to national authorities by way of the means and tools already in use under Member States’ legislation, at no additional cost.
2021/01/11
Committee: ECON
Amendment 68 #

2020/0106(COD)

Proposal for a regulation
Recital 2
(2) In accordance with Regulation [European Union Recovery Instrument] and within the limits of resources allocated therein, recovery and resilience measures under the solvency support window of the European Fund for Strategic Investments should be carried out to address the unprecedented impact of the COVID-19 crisis. Such additionalnational and regional lockdown measures in response to the COVID-19 pandemic. These resources should be used in such a way as to ensure compliance with the time limits provided for in Regulation [EURI].
2020/08/27
Committee: BUDGECON
Amendment 88 #

2020/0106(COD)

Proposal for a regulation
Recital 4
(4) Companies supported under the Solvency Support Instrument should be established and operating in the Union, meaning that they should have their registered office in a Member State and should be active in a preponderant manner in the Union in the sense that they have substantial activities in terms of staff, manufacturing, research and development or other business activities in the Union. They should pursue activities in support of objectives covered by this Regulation. They should have a viable business model and not have been in difficulty in terms of the State aid framework7 already at end 2019. Support should be targeted at eligible companies operating in those Member States and sectors which are most impacted by the Covid-19 crisis and/or where the availability of State solvency support is more limited. In order to ensure its additionality (the equity financing would not have taken place to the same extent without the support of EFSI), the instrument will also take into account the disparity of equity markets in Europe. Finally, it would be legitimate not to automatically exclude companies already in difficulty, within the meaning of the State aid rules, at the end of 2019, before the start of the pandemic, which would be worse off than post-Covid-19 companies, even though this definition does not prejudge a company that is irremediably compromised. _________________ 7 As defined in Article 2(18) of Commission Regulation (EU) No 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty (OJ L 187, 26.6.2014, p.1).
2020/08/27
Committee: BUDGECON
Amendment 94 #

2020/0106(COD)

Proposal for a regulation
Recital 4
(4) Companies supported under the Solvency Support Instrument should be established and operating in the Union, meaning that they should have their registered office in a Member State and should be active in the Union in the sense that they have substantial activities in terms of staff, manufacturing, research and development or other business activities in the Union. They should pursue activities in support of objectives covered by this Regulation. They should have a viable business model and not have been in difficulty in terms of the State aid framework7 already at end 2019. Support should be targeted at eligible companies operating in those Member States and sectors which are most impacted by the Covid-19 crisis and/or where the availability of State solvency support is more limitedin terms of the effect of the lockdown measures on GDP. _________________ 7 As defined in Article 2(18) of Commission Regulation (EU) No 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty (OJ L 187, 26.6.2014, p.1).
2020/08/27
Committee: BUDGECON
Amendment 99 #

2020/0106(COD)

Proposal for a regulation
Recital 4 a (new)
(4a) In return for the recapitalisation of the company necessary to overcome the crisis and in the interests of fairness, the directors or corporate officers of companies benefiting from the solvency support instrument will have to cap their fixed remuneration for the years 2020 and 2021 on the basis of their fixed remuneration in 2019.
2020/08/27
Committee: BUDGECON
Amendment 122 #

2020/0106(COD)

Proposal for a regulation
Recital 9
(9) The equity funds, special purpose vehicles, investment platforms and national promotional banks and institutions should provide equity or quasi-equity (such as hybrid debt, preferred stock or convertible equity) to eligible companies, but excluding entities targeting buy-out (or replacement capital) intended for asset stripping and excluding quasi-equity and debt-financing; these investments should not be diverted to operations outside the Union.
2020/08/27
Committee: BUDGECON
Amendment 125 #

2020/0106(COD)

Proposal for a regulation
Recital 10
(10) The financing and investment operations should be aligned with current policy priorities of the Union such as the European Green Deal and the Strategy on shaping Europe’s digital future. Support to cross-border activities should also be targeted.
2020/08/27
Committee: BUDGECON
Amendment 134 #

2020/0106(COD)

Proposal for a regulation
Recital 11
(11) Financing and investment operations under the solvency support window should be decided upon until end- 20243 with at least 60 % of financing and investment operations to be decided by end-20221 to allow for a rapid reaction to the economic crisis caused by the Covid-19 pandemic.
2020/08/27
Committee: BUDGECON
Amendment 136 #

2020/0106(COD)

Proposal for a regulation
Recital 12
(12) In order to be able to channel support to the European economy through the European Investment Fund (EIF),ensure a stable and sustainable economic recovery across the Union, political meddling with investment decisions should be avoided, therefore the Commission should be in a positionnot be allowed to participate in one or more possible capital increases of the EIF in order to allow it to continue supporting the European economy and its recovery. The Union should be able to maintain its overall share in the EIF capital. A sufficient financial envelope to this effect should be foreseen in the revised Multiannual Financial Framework for the current perioduropean Investment Fund (EIF). The Union should gradually and swiftly decrease its overall share in the EIF capital.
2020/08/27
Committee: BUDGECON
Amendment 148 #

2020/0104(COD)

Proposal for a regulation
Recital 4
(4) The outbreak of the COVID-19 pandemic in early 2020 changed the economic outlook for the years to come in the Union and in the world, calling for an urgent and coordinated response from the Union in order to cope with the enormous economic and social consequences for all Member. The challenges linked to the demographic context have been amplified by COVID-19. The current COVID-19 pandemic as well as the previous economic and financial crisis have shown that developing sound and resilient economies and financial systems built on strong economic and social structures helps Member States to respond more efficiently to shocks and recover more swiftly from them. The medium and long-term consequences of the COVID-19 crisis will critically depend on how quickly Member States’ economies will recover from the crisis, which in turn depends onby the fiscal space Member States have available to takespeed of intervention and adoption of economic measures to mitigate the social and economic impact of the crisis, and on the resilience of their economies. Reforms and investments to address structural weaknesses of the economies and strengthen their resilience will therefore be essential to set the economies back on a sustainable recovery path and avoid further widening of the divergences in the Union.
2020/09/22
Committee: BUDGECON
Amendment 160 #

2020/0104(COD)

Proposal for a regulation
Recital 5
(5) The implementation of reforms and investments decided by Member States contributing to achieve a high degree of resilience of domestic economies, strengthening adjustment capacity and unlocking growth potential are among the Union’s policy priorities. They are therefore crucial to set the recovery on a sustainable path and support the process of upward economic and social convergence. This is even more necessary in the aftermath of the pandemic crisis to pave the way for a swift recovery.
2020/09/22
Committee: BUDGECON
Amendment 188 #

2020/0104(COD)

Proposal for a regulation
Recital 6
(6) Past experiences have shown that investment is often drastically cut during crises. However, it is essential to support investment in this particular situation to speed up the recovery and strengthen long- term growth potential. Investing in green and digital technologies, innovations, capacities and manufacturing processes aimed at assisting clean energy transition, boosting energy efficiency in housing and other key sectors of the economic are important to achieve sustainable growth and help create jobs. It will also help make the Union more resilient and less dependent by diversifying key supply chains.
2020/09/22
Committee: BUDGECON
Amendment 197 #

2020/0104(COD)

Proposal for a regulation
Recital 7
(7) Currently, no instrument foresees direct financial support linked to the achievement of results and to implementation of reforms and public investments of the Member States in response to challenges identified in the European Semester, and with a view to having a lasting impact on the productivity and resilience of the economy of the Member States.
2020/09/22
Committee: BUDGECON
Amendment 251 #

2020/0104(COD)

Proposal for a regulation
Recital 11
(11) Reflecting the European Green Deal as Europe’s sustainable growth strategy and the translation of the Union's commitments to implement the Paris Agreement and the United Nations’ Sustainable Development Goals, the Facility established by this Regulation will contribute to mainstreaming climate actions and environmental sustainability and to the achievemThe Facility established by this regulation, by reviewing the forecasts of the European Green Deal in order to achieve an EU growth strategy, must contribute to the economic recovery resulting from the COVID-19 pandemic crisis, placing, at the centre of an overall target of 25 % of the EU budget expenditures supporting climatits objectives, the industrial growth, the economic development and the jobjectives creation.
2020/09/22
Committee: BUDGECON
Amendment 271 #

2020/0104(COD)

Proposal for a regulation
Recital 12
(12) In order to implement these overall objectives, relevant actions will be identified during the Facility’s preparation and implementation, and reassessed in the context of the relevant evaluations and review processes. Also, due attention should be paid to the impact of the national plans submitted under this Regulation on fostering not only the green transition, but also the digital transformeconomic growth and to the job creation. They will both play a priority role in relaunching and modernising our economy.
2020/09/22
Committee: BUDGECON
Amendment 287 #

2020/0104(COD)

Proposal for a regulation
Recital 13
(13) In order to enable measures to be taken that link the Facility to sound economic governance, with a view to ensuring uniform implementing conditions, the power should be conferred on the Council to suspend, on a proposal from the Commission and by means of implementing acts, the period of time for the adoption of decisions on proposals for recovery and resilience plans and to suspend payments under this Facility, in the event of significant non-compliance in relation to the relevant cases related to the economic governance process laid down in the Regulation (EU) No XXX/XX of the European Parliament and of the Council [CPR] (…). The power to lift those suspensions by means of implementing acts, on a proposal from the Commission, should also be conferred on the Council in relation to the same relevant cases.deleted
2020/09/22
Committee: BUDGECON
Amendment 307 #

2020/0104(COD)

Proposal for a regulation
Recital 14
(14) The Facility’s general objective should be the promotion of growth, economic development, job protection and employment as well as economic, social and territorial cohesion. For that purpose, it should contribute to improving the resilience and adjustment capacity of the Member States, mitigating the social and economic impact of the crisis, and supporting the green and digital transitions aimed at achieving a climate neutral Europe by 2050increase of production and employment, especially of the most affected sectors, such as tourism and food supply chain, the development of infrastructures and transport, thereby restoring the growth potential of the economies of the UnionMember States in the aftermath of the crisis, fostering employment creation and to promoting sustainable growth.
2020/09/22
Committee: BUDGECON
Amendment 337 #

2020/0104(COD)

Proposal for a regulation
Recital 16
(16) To ensure its contribution to the objectives of the Facility, the recovery and resilience plan should comprise measures for the implementation of reforms and public investment projects through a coherent recovery and resilience plan. The recovery and resilience plan should be consistent with the relevant country- specific challenges and priorities identified in the context of the European Semester, with the national reform programmes, the national energy and climate plans, the just transition plans, and the partnership agreements and operational programmes adopted under the Union funds. To boost actions that fall within the priorities of the European Green Deal and the Digital Agenda, the plan should also set out measures that are relevant for the green and digital transitionsplan should also set out measures that are relevant for the economically sustainable growth. The measures should enable a swift deliver of targets, objectives and contributions set out in national energy and climate plans and updates thereof. All supported activities should be pursued in full respect of the climate and environmental priorities of the Union.
2020/09/22
Committee: BUDGECON
Amendment 402 #

2020/0104(COD)

Proposal for a regulation
Recital 21
(21) In order to ensure the national ownership and a focus on relevant reforms and investments, Member States wishing to receive support should submit to the Commission a recovery and resilience plan that is duly reasoned and substantiated. The recovery and resilience plan should set out the detailed set of measures for its implementation, including targets and milestones, and the expected impact of the recovery and resilience plan on growth potential, job creation and economic and social resilience; it should also include measures that are relevant for the green and the digital transitions; it should also include an explanation of the consistency of the proposed recovery and resilience plan with the relevant country-specific challenges and priorities identified in the context of the European Semester. Close cooperation between the Commission and the Member States should be sought and achieved throughout the process.
2020/09/22
Committee: BUDGECON
Amendment 496 #

2020/0104(COD)

Proposal for a regulation
Recital 32
(32) For the purpose of sound financial management, specific rules should be laid down for budget commitments, and payments, suspension, cancellation and recovery of funds. To ensure predictability, it should be possible for Member States to submit requests for payments on a biannual basis. Payments should be made in instalments and be based on a positive assessment by the Commission of the implementation of the recovery and resilience plan by the Member State. Suspension and cancellation of the financial contribution should be possible when the recovery and resilience plan has not been implemented in a satisfactory manner by the Member State. Appropriate contradictory procedures should be established to ensure that the decision by the Commission in relation to suspension, cancellation and recovery of amounts paid respects the right of Member States to provide observations.
2020/09/22
Committee: BUDGECON
Amendment 1096 #

2020/0104(COD)

Proposal for a regulation
Article 16 – paragraph 3 – point a
(a) whether the recovery and resilience plan is expected to contribute to effectively address challenges identified in the relevant country-specific recommendations addressed to the Member State concerned or in other relevant documents officially adopted by the Commission in the European Semester;deleted
2020/09/25
Committee: BUDGECON
Amendment 1212 #

2020/0104(COD)

Proposal for a regulation
Article 16 – paragraph 5
5. For the purpose of the assessment of the recovery and resilience plans submitted by Member States, the Commission may be assisted by experts.deleted
2020/09/25
Committee: BUDGECON
Amendment 1219 #

2020/0104(COD)

Proposal for a regulation
Article 17 – paragraph 1
1. The Commission shall adopt a decision within fourtwo months of the official submission of the recovery and resilience plan by the Member State, by means of an implementing act. In the event that the Commission gives a positive assessment to a recovery and resilience plan, that decision shall set out the reforms and investment projects to be implemented by the Member State, including the milestones and targets, and the financial contribution allocated in accordance with Article 11.
2020/09/25
Committee: BUDGECON
Amendment 1291 #

2020/0104(COD)

Proposal for a regulation
Article 17 – paragraph 5
5. Where the Commission gives a negative assessment to a recovery and resilience plan, it shall communicate a duly justified assessment within fourtwo months of the submission of the proposal by the Member State.
2020/09/25
Committee: BUDGECON
Amendment 1327 #

2020/0104(COD)

Proposal for a regulation
Article 18 – paragraph 3
3. Where the Commission considers that the reasons put forward by the Member State concerned do not justify an amendment of the relevant recovery and resilience plan, it shall reject the request within fourtwo months of its official submission, after having given the Member State concerned the possibility to present its observations within a period of onetwo month of the communication of the Commission's conclusions.
2020/09/25
Committee: BUDGECON
Amendment 1394 #

2020/0104(COD)

Proposal for a regulation
Article 20 – paragraph 1
The Member State concerned shall report on a quarterly basis within the European Semester process on the progress made in the achievement of the recovery and resilience plans, including the operational arrangement referred to in Article 17(6). To that effect, the quarterly reports of the Member States shall be appropriately reflected in the National Reform Programmes, which shall be used as a tool for reporting on progress towards completion of the recovery and resilience plans.deleted
2020/09/25
Committee: BUDGECON
Amendment 1415 #

2020/0104(COD)

Proposal for a regulation
Article 21 – paragraph 2
2. The Commission may engage in communication activities to ensure the visibility of the Union funding for the financial support envisaged in the relevant recovery and resilience plan, including through joint communication activities with the national authorities concerned.deleted
2020/09/25
Committee: BUDGECON
Amendment 1511 #

2020/0104(COD)

Proposal for a regulation
Article 26 a (new)
Article 26 a Articles 107, 108 and 109 TFEU shall not apply to the funding of the resources provided by Article 5.
2020/09/25
Committee: BUDGECON
Amendment 1512 #

2020/0104(COD)

Proposal for a regulation
Article 26 b (new)
Article 26 b For the purpose of this Regulation, when State aids rules apply, the maximum aid intensity rates for investments made by SMEs and large enterprises referred to Regulation 702/2014 and in the European Union Guidelines for State aid in the agricultural and forestry sectors and in rural areas 2014 to 2020 can be increased by 20%, provided that the maximum combined aid does not exceed 90%.
2020/09/25
Committee: BUDGECON
Amendment 35 #

2020/0100(COD)

Proposal for a regulation
Recital 1
(1) The Commission adopted a Communication on the European Green Deal on 11 December 20199 , drawing its roadmap towards an allegedly new growth policy for Europe and setting ambitious objectives to counter climate change and for environmental protection. In line with the objective to achieve climate neutrality in the Union by 2050 in an effective and fair manner, the European Green Deal announced a Just Transition Mechanism to provide means for facing the climate challengetransition towards a climate-neutral economy while leaving no one behind. The most vulnerable regions and people are the most exposed to the harmful effects of climate change and environmental degradation. At the same time, managing the transition requires significant structural changes. _________________ 9 COM(2019) 640 final.
2020/09/03
Committee: BUDGECON
Amendment 63 #

2020/0100(COD)

Proposal for a regulation
Recital 5
(5) In order to enhance the economic diversification of territories impacted by the transition, the Facility should cover a wide range of investments, on condition that they contribute to meet the development needs in the transition towards a climate neutral economy, as described in the territorial just transition plans. The investments supported may cover energy and transport infrastructure, district heating networks, green mobility, smalocal public transport, waste management, clean energy and energy efficiency measures including renovations and conversions of buildings, support to transition to a circular economy, land restoration and decontamination, as well as up- and re- skilling, training and social infrastructure, including social housing. Infrastructure developments may also include solutions leading to their enhanced resilience to withstand disasters. Comprehensive investment approach should be favoured in particular for territories with important transition needs. Investments in other sectors could also be supported if they are consistent with the adopted territorial just transition plans. By supporting investments that do not generate sufficient revenues, the Facility aims at providing public sector entities with additional resources necessary to address the social, economic and environmental challenges resulting from the adjustment to climathe transition. In order to help identify investments with a high positive environmental impact eligible under the Facility, the EU taxonomy on environmentally sustainable economic activities may be used towards a climate-neutral economy.
2020/09/03
Committee: BUDGECON
Amendment 127 #

2020/0100(COD)

Proposal for a regulation
Recital 22
(22) The objective of this Regulation, namely to leverage public investment in territories, most impacted by the transition towards climate neutrality by addressing the corresponding development needs, cannot be sufficiently achieved by the Member States alone. The main reasons in this regard are the difficulties for public entities to support investments, which do not generate sufficient streams of own revenues and benefit the territories most negatively impacted by climathe transition, without EU grant support towards a climate-neutral economy, due to the EU's restrictive economic and budgetary policies and the need for a coherent implementation framework under direct management. Since those objectives can be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 TEU. In accordance with the principle of proportionality as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve that objective,
2020/09/03
Committee: BUDGECON
Amendment 283 #

2020/0100(COD)

Proposal for a regulation
Annex II – point 6 – point 6.1
6.1 Transport infrastructure
2020/09/03
Committee: BUDGECON
Amendment 284 #

2020/0100(COD)

Proposal for a regulation
Annex II – point 6 – point 6.3
6.3 Public utilities (water, wastewater, district heating, energy, waste management, local transport)
2020/09/03
Committee: BUDGECON
Amendment 288 #

2020/0100(COD)

Proposal for a regulation
Annex II – point 6 a (new)
6 a. Number of net jobs created
2020/09/03
Committee: BUDGECON
Amendment 290 #

2020/0100(COD)

Proposal for a regulation
Annex II – point 7
7. GPolluting and greenhouse gas emission reduced
2020/09/03
Committee: BUDGECON
Amendment 107 #

2020/0066(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 1
Regulation (EU) 2019/876
Article 3 – paragraph 3a – point a
(a) point (59), as regards the provisions on the treatment of certain loans granted by credit institutions to pensioners or employees laid down in Article 123 of Regulation (EU) No 575/2013, with a risk weight reduced to 30% which shall be used temporarily until [date of entry into force of this amending Regulation + 7 years];
2020/05/27
Committee: ECON
Amendment 108 #

2020/0066(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 1
Regulation (EU) 2019/876
Article 3 – paragraph 3a – point b
(b) point (133), as regards the provisions on adjustment of risk-weighted non-defaulted SME exposures laid down in Article 501 of Regulation (EU) No 575/2013;, with the following formula which shall be used temporarily until [date of entry into force of this amending Regulation + 7 years]:
2020/05/27
Committee: ECON
Amendment 109 #

2020/0066(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 1
Regulation (EU) 2019/876
Article 3 – paragraph 3a – point c
(c) point (134), as regards the adjustment to own funds requirements for credit risk for exposures to entities that operate or finance physical structures or facilities, systems and networks that provide or support essential public services laid down in Article 501a of Regulation (EU) No 575/2013 , with a decrease of own funds requirements for credit risk calculated in accordance with Title II of Part III multiplied by a factor of 0,60, which shall be used temporarily until [date of entry into force of this amending Regulation + 7 years].;
2020/05/27
Committee: ECON
Amendment 152 #

2020/0006(COD)

Proposal for a regulation
Recital 12 a (new)
(12a) State aid rules should be applied flexibly in eligible regions in transition, so as to facilitate private investment. In facilitating investments, problems of structural change in eligible regions should be taken into account in order to ensure that they have sufficient flexibility to carry out their projects in a socially and economically sustainable way.
2020/06/02
Committee: ECON
Amendment 156 #

2020/0006(COD)

Proposal for a regulation
Recital 13
(13) In order to provide flexibility for the programming of the JTF resources under the Investment for jobs and growth goal, it should be possible to prepare a self- standing JTF programme or to programme JTF resources in one or more dedicated priorities within a programme supported by the European Regional Development Fund (‘ERDF’), the European Social Fund Plus (‘ESF+’) or the Cohesion Fund. In accordance with Article 21a of Regulation (EU) [new CPR], JTF resources should be reinforced with complementary funding from the ERDF and the ESF+. The respective amounts transferred from the ERDF and the ESF+ should be consistent with the type of operations set out in the territorial just transition plans.
2020/06/02
Committee: ECON
Amendment 176 #

2020/0006(COD)

Proposal for a regulation
Recital 17
(17) In order to supplement and amend certain non-essential elements of this Regulation, the power to adopt acts in accordance with Article 290 TFEU should be delegated to the Commission in respect of the amendment of the elements contained in Annex III of this Regulation regarding the common output and result indicators. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level, and that those consultations be conducted in accordance with the principles laid down in the Interinstitutional Agreement of 13 April 2016 on Better Law-Making15 . In particular, to ensure equal participation in the preparation of delegated acts, the European Parliament and the Council receive all documents at the same time as Member States' experts; these experts systematically have access to meetings of Commission expert groups dealing with the preparation of delegated acts. __________________ 15 OJ L 123, 12.5.2016, p.13.deleted
2020/06/02
Committee: ECON
Amendment 181 #

2020/0006(COD)

Proposal for a regulation
Recital 19
(19) The objectives of this Regulation, namely to support territories facing economic and social transformation in their sustainable transition to a climate-neutral economy, cannot be also sufficiently achieved by the Member States alone. The main reasons in this regard are, on the one hand, the disparities between the levels of development of the various territories and the backwardness of the least favoured territories, as well as the limit on the financial resources of the Member States and territories and, on the other hand, the need for a coherent implementation framework covering several Union funds under shared management, through regional banks to be decisive tools for financing a just ecological transition according to regional preferences and peculiarities. Since those objectives can better be achieved also at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 TEU. In accordance with the principle of proportionality, as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve those objectives,
2020/06/02
Committee: ECON
Amendment 217 #

2020/0006(COD)

Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1
The resources for the JTF under the Investment for jobs and growth goal available for budgetary commitment for the period 2021-2027 shall be EUR 7.5 billion in 2018 prices, which may be increased, as the case may be, by additional resources allocated in the Union budget, and by other resources in accordance with the applicable basic act.
2020/06/02
Committee: ECON
Amendment 223 #

2020/0006(COD)

Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 3
0.3520% of the amount referred to in the first subparagraph shall be allocated to technical assistance, including preliminary planning, at the initiative of the Commission. .
2020/06/02
Committee: ECON
Amendment 229 #

2020/0006(COD)

Proposal for a regulation
Article 3 – paragraph 4
4. By way of derogation from Article [21a] of Regulation (EU) [new CPR], any additional resources referred to in paragraph 2, allocated to the JTF in the Union budget or provided by other resources shall not require complementary support from the ERDF or the ESF+ or other funds allocation programs provided by the European Union.
2020/06/02
Committee: ECON
Amendment 243 #

2020/0006(COD)

Proposal for a regulation
Article 4 – paragraph 2 – subparagraph 1 – point a
(a) productive investments in microenterprises and SMEs, including start-ups, leading to economic diversification and reconversion;
2020/06/02
Committee: ECON
Amendment 306 #

2020/0006(COD)

Proposal for a regulation
Article 4 – paragraph 2 – subparagraph 1 – point j
(j) active inclusion of jobseekers, especially of women and disabled people;
2020/06/02
Committee: ECON
Amendment 310 #

2020/0006(COD)

Proposal for a regulation
Article 4 – paragraph 2 – subparagraph 1 – point k
(k) technical assistance, including preliminary planning.
2020/06/02
Committee: ECON
Amendment 321 #

2020/0006(COD)

Proposal for a regulation
Article 4 – paragraph 2 – subparagraph 2
Additionally, the JTF may support, in areas designated as assisted areas in accordance with points (a) and (c) of Article 107(3) of the TFEU, productive investments in enterprises other than microenterprises and SMEs, provided that such investments have been approved as part of the territorial just transition plan based on the information required under point (h) of Article 7(2). Such investments shall only be eligible where they are necessary for the implementation of the territorial just transition plan.
2020/06/02
Committee: ECON
Amendment 337 #

2020/0006(COD)

Proposal for a regulation
Article 5 – paragraph 1 – point c
(c) undertakings in difficulty, as defined in Article 2(18) of Commission Regulation (EU) No 651/201416 ; __________________ 16Commission Regulation (EU) No 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty (OJ L 187, 26.6.2014, p. 1).deleted
2020/06/02
Committee: ECON
Amendment 367 #

2020/0006(COD)

Proposal for a regulation
Article 6 – paragraph 2
2. The JTF priority or priorities shall comprise the JTF resources consisting of all or part of the JTF allocation for the Member States and the resources transferred in accordance with Article [21a] of Regulation (EU) [new CPR]. The total of the ERDF and ESF+ resources transferred to the JTF priority shall be at least equal to one and a half times the amount of support from the JTF to that priority but shall not exceed three times that amount.
2020/06/02
Committee: ECON
Amendment 6 #

2019/2214(BUD)

Motion for a resolution
Paragraph 1
1. EmphasisNotes that the largest part of Parliament's budget is fixed by statutory or contractual obligations and is subject to annual indexation and for 2021 those obligations are estimated at EUR 32 million;
2020/03/12
Committee: BUDG
Amendment 14 #

2019/2214(BUD)

Motion for a resolution
Paragraph 6
6. Highlights Parliament's role in building European political awareness and promoting Union values;deleted
2020/03/12
Committee: BUDG
Amendment 15 #

2019/2214(BUD)

Motion for a resolution
Paragraph 7
7. Stresses that significant savings as compared to the proposal of the Secretary- General are required to bring closer the rise of this proposal to the expected general inflation rate for 2021 and that all efforts to strive for the more efficient and transparent use of public money are strongly encouraged; regrets that the proposal of the Secretary-General would set the Parliament's 2021 budget at EUR 2 110 467 628, representing an overall increase of 3,52 % on the 2020 budget; deplores the fact that Parliament's budget has increased steadily year on year and calls, therefore, for Parliament to seek significant savings, in order to send out a message of solidarity with EU citizens;
2020/03/12
Committee: BUDG
Amendment 30 #

2019/2214(BUD)

Motion for a resolution
Paragraph 13
13. NoteRegrets that Europa Experience centres have already been inaugurated in Berlin, Copenhagen, Helsinki, Ljubljana, and Strasbourg and in 2020 in Tallinn and that, in 2021, it is planned to set up Europa Experience centres in the new ADENAUER building in Luxembourg, in Rome, Paris, Warsaw, Stockholm and Prague; calls for a continuous evaluation of the results achieved; calls for a detailed breakdown of expenditure for the establishment of the new "Europa Experiences" centres for 2021 before the Parliament’s reading of budget in Autumn 2020; questions the added value of the Europa Experience centres;
2020/03/12
Committee: BUDG
Amendment 31 #

2019/2214(BUD)

Motion for a resolution
Paragraph 14
14. Requests more information on the arrangements for and cost of the creation of a series of mobile versions of the Parlamentarium, which would tour Member States to provide citizens with information on Parliament and the Union; stresses that this type of initiative must be decentralised and be carried out from the “Europa Experience” centres to make savings and to be rational; takes note that the project includes a mobile application which contains the best of existing Parlamentarium content and condemns the waste of taxpayers’ money in a propaganda campaign for the exclusive benefit of the Union system;
2020/03/12
Committee: BUDG
Amendment 36 #

2019/2214(BUD)

Motion for a resolution
Paragraph 15
15. Is concerned byRegrets the Parliament's intention to expand its activity and its diplomatic presence beyond the borders of the Union in Indonesia (Jakarta), Ethiopia (Addis Ababa) and the United States (New York) and questions the value added of it; requests that a detailed and thorough analysis of the representation costs and costs inherent in such expansion, namely accommodation, secretariats, staff, residence, transport, be carried out; requests that an analysis be provided on the added value of the current representation of Parliament in Washington; is deeply concerned about this new huge waste of taxpayers' money and recalls that foreign policy and diplomatic representation should remain exclusive competences of Member States;
2020/03/12
Committee: BUDG
Amendment 54 #

2019/2214(BUD)

Motion for a resolution
Paragraph 22
22. Takes note ofDisapproves the ongoing practice of the year-end ‘mopping-up transfer’ to contribute to current building projects and considers that it exists in tension with the transparency of building projects within the Parliament's budget; highlights that this ‘mopping-up transfer’ takes place systematically on the same chapters, titles and, often, exactly on the same budgetary lines; considers that such a legal practice risks being perceived as a programmed over- evaluation of these, in order to generate funds for the financing of Parliament’s building policy; calls for a reflection on the financing of key investments in the building policy;
2020/03/12
Committee: BUDG
Amendment 62 #

2019/2214(BUD)

Motion for a resolution
Paragraph 24
24. Recalls the need to find a solution for a single seat for the Parliament in order to optimise parliamentary and institutional work and reduce significant political and financial costs and the carbon footprint; recalls the Parliament’s 2013 resolution which estimated the costs of the geographic dispersion of the Parliament to range from EUR 156 million to EUR 204 million per year and deplores hence the fact that over a single parliamentary term the costs generated by Parliament's geographic dispersion can amount to as much as EUR 1 billion; calls therefore for a roadmap to a single seat in order to prevent any further waste of public money;
2020/03/12
Committee: BUDG
Amendment 101 #

2019/2214(BUD)

Motion for a resolution
Paragraph 36
36. Recalls Article 27(1) and (2) of the Statute for Members which states that “Notes the possible exhaustion of the vVoluntary pPension fFund set up by Parliament shall be maintained after the entry into force of this Statute for Members or former Members who have already acquired rights or future entitlements in that fund” and that “acquired rights and future entitlements shall be maintained in full”; calls upon the Secretary-General and the Bureau to fully respect the Statute for Members; and to establish with the pension fund a clear plan for Parliament assuming and and refuses the idea to use European taxpayers’ money to improve the sustaking over its obligations and responsibilities for its Members’ voluntary pension scheme; supports the request from the Bureau toability of the fund; stresses the need for instructing the Secretary-General to investigate ways to ensure a sustainable financing of the Voluntary Pension Fund in accordance with the provisions of the Statute for Members while ensuring full transparencyseek solutions which do not impose a further financial burden on European taxpayers;
2020/03/12
Committee: BUDG
Amendment 13 #

2019/2213(BUD)

Motion for a resolution
Recital A
A. whereas pursuant to Article 311 of the TFEU, the Union shall provide itself with the means necessary to attain its policy objectives and the budget shall be financed wholly from own resources;
2020/03/04
Committee: BUDG
Amendment 28 #

2019/2213(BUD)

Motion for a resolution
Paragraph 1
1. Insists that the EU budget is vitalimportant to help Member States to respond to the challenges the Union isy are facing and reflects the degree of ambition of the Member States and the institutionssupplying concrete answers to the citizens’ needs; points out the need to avoid previous mistakes and emphasises that EU citizens expect the 2021 budget to be more efficient, transparent and performance-based, with concrete reductions in administrative expenditure and waste of money;
2020/03/04
Committee: BUDG
Amendment 109 #

2019/2213(BUD)

Motion for a resolution
Paragraph 6 a (new)
6a. Stresses, nevertheless, that the reduction in greenhouse gas emissions, on which the safeguarding of our planet will depend, implies profound changes in the current free trade-based economic model ; calls, therefore, on the European Union to introduce smart protectionism, in particular by incorporating the environmental cost of the transport of goods into tariff barriers, in order to give an advantage to our local producers and to make consumers aware of their patterns of consumption;
2020/03/04
Committee: BUDG
Amendment 126 #

2019/2213(BUD)

Motion for a resolution
Paragraph 9
9. Reiterates its position that commitment appropriations for the 2021- 2027 period should be set at EUR 1 324.1 billion in 2018 prices, which represents 1.3 not exceed 1% of the EU-27’s gross national income (GNI); reflecting this position, is determined to defendadopt a 2021 budget of EUR 192.1 billion in current priceswhich should not go beyond this ceiling (1% of GNI) in commitment appropriations (1.29% of GNI);
2020/03/04
Committee: BUDG
Amendment 132 #

2019/2213(BUD)

Motion for a resolution
Paragraph 9 c (new)
9c. Calls for the launch of an audit to establish the proportion of European funds that are earmarked to facilitate the reception and integration of illegal migrants in the Member States of the European Union;
2020/03/04
Committee: BUDG
Amendment 229 #

2019/2213(BUD)

Motion for a resolution
Paragraph 11 a (new)
11 a. Underlines that any funding to Turkey, a country that does not respect several of the basic principles of freedom and democracy, must be immediately stopped;
2020/03/04
Committee: BUDG
Amendment 230 #

2019/2213(BUD)

Motion for a resolution
Paragraph 12
12. Is determined to avoid a new payment crisis; reiterates that the overall payment ceiling must take into account the unprecedented volume of outstanding commitments at the end of 2020 to be settled under the next MFF; further notes that the focus of payment appropriations in 2021 will largely be on completion of 2014-2020 programmes; insists, however, that this should not hinder the launch of new programmes; calls, therefore, not to increase the commitment appropriations in the Budget of the European Union until a definitive solution on the stabilisation of the backlog of outstanding payment claims is found;
2020/03/04
Committee: BUDG
Amendment 234 #

2019/2213(BUD)

Motion for a resolution
Paragraph 13 a (new)
13 a. Underlines the need to properly evaluate which funds could be better managed at national level in order to ensure full respect for the principle of subsidiarity;
2020/03/04
Committee: BUDG
Amendment 34 #

2019/2211(INI)

Draft opinion
Paragraph 4
4. Welcomes the Single Market Performance Reports, which will debunk myths surrounding the ‘net contributors and net recipients’ approach to the EU budget by providing figures that demonstrate the benefits of single market access for the Member States;deleted
2020/01/29
Committee: BUDG
Amendment 49 #

2019/2211(INI)

Draft opinion
Paragraph 6
6. Considers that the Member States and regions have different starting points when it comes to the transition; considers that the Just Transition Mechanism should ensure an adequate, inclusive and fair transition for all;
2020/01/29
Committee: BUDG
Amendment 33 #

2019/2178(INI)

Motion for a resolution
Recital A
A. whereas the Mediterranean Sea is a common good to be protected, and whereas its current environmental status is worrying, partly as a result of overfishing, and is having negative social and economic repercussions for the fishing industry as a whole;
2021/04/07
Committee: PECH
Amendment 39 #

2019/2178(INI)

Motion for a resolution
Recital D
D. whereas, according to the 2018 GFCM report on the state of Mediterranean and Black Sea fisheries, in the Mediterranean the proportion of overfished stocks decreased from 88% in 2014 to 78% in 2016, representing an improvement which should be taken into consideration when adopting future measures;
2021/04/07
Committee: PECH
Amendment 45 #

2019/2178(INI)

Motion for a resolution
Recital E
E. having regard to the significant socioeconomic impact of restrictions on fishing activities, starting with the WestMed multiannual plan and the GFCM measures in the Adriatic Sea and the Strait of Sicily;
2021/04/07
Committee: PECH
Amendment 56 #

2019/2178(INI)

Motion for a resolution
Recital G
G. whereas, in addition to fishing, the factors exerting pressure on Mediterranean fish stocks include pollution, habitat loss, maritime traffic, competition for space and climate change; , starting with its effects, including the rise in water temperatures, acidification, changes to ocean currents, asynchronous species and the arrival of non-indigenous species, which cause direct and indirect damage to fisheries, too;
2021/04/07
Committee: PECH
Amendment 61 #

2019/2178(INI)

Motion for a resolution
Recital G a (new)
Ga. whereas the failure to quantify the consequences of each factor affecting fish stocks is hampering the adoption of appropriate and effective conservation measures, limiting action to defend fish stocks only to restrictive fishing measures, with the socioeconomic impact that this entails;
2021/04/07
Committee: PECH
Amendment 64 #

2019/2178(INI)

Motion for a resolution
Recital G b (new)
Gb. whereas there is a need to increase capacities to adapt to and mitigate the effects of climate change by adopting measures to strengthen the resilience of coastal communities;
2021/04/07
Committee: PECH
Amendment 69 #

2019/2178(INI)

Motion for a resolution
Recital I
I. having regard to the negative impact of the COVID-19 pandemic, which will also affect the future of the sector;
2021/04/07
Committee: PECH
Amendment 73 #

2019/2178(INI)

Motion for a resolution
Recital J
J. whereas the political instability and unrest in Libya and in several regions of North Africa are posing a tangible threat to EU fishers active in the southern Mediterranean, jeopardising their personal freedom and the safety of fishing operations;
2021/04/07
Committee: PECH
Amendment 79 #

2019/2178(INI)

Motion for a resolution
Paragraph 1
1. Calls on the Commission, after consulting the Member States and asking the Regional Advisory Council for the Mediterranean (MED-AC) for an opinion, to identify the obstacles to the process of rebuilding fish stocks with a view to revising the current legislation and taking practical steps to rebuild fish stocks in the Mediterranean Sea;
2021/04/07
Committee: PECH
Amendment 84 #

2019/2178(INI)

Motion for a resolution
Paragraph 1 a (new)
1a. Calls for greater involvement of the fisheries sector in the decision-making process, through a regionalisation-based approach;
2021/04/07
Committee: PECH
Amendment 103 #

2019/2178(INI)

2. Calls on the Commission to conduct impact analyses and ensure that every legislative proposal to restrict fishing activities takes account of its socioeconomic impact and is supported by scientific data are kept up to date and shared with fishers’ associations;
2021/04/07
Committee: PECH
Amendment 113 #

2019/2178(INI)

Motion for a resolution
Paragraph 3
3. Stresses the need to legislate on the basis of an eco-system approach which can be used to identify and analyse all interactions that have an impact on fish stocks, taking into account not only fishing activities, but also other factors weighing in the balance and the presence of new invasive species;
2021/04/07
Committee: PECH
Amendment 116 #

2019/2178(INI)

Motion for a resolution
Paragraph 3 a (new)
3a. Urges the Commission to encourage the renewal of the very elderly fishing fleets operating in the Mediterranean, as regards both vessel and engine design, in order to reduce the environmental impact of fishing on the environment and improve safety and working conditions on board;
2021/04/07
Committee: PECH
Amendment 119 #

2019/2178(INI)

Motion for a resolution
Paragraph 4
4. Calls on the Commission and the Member States to safeguard the competitiveness of the entire fishery sector and its production chain, placing particular emphasis on measures to halt the trend towards increased dependence on imports and to consolidate and promote European and local production instead;
2021/04/07
Committee: PECH
Amendment 123 #

2019/2178(INI)

Motion for a resolution
Paragraph 4 a (new)
4a. Urges the Commission to improve the labelling of fish products in order to provide consumers with clearer information regarding the origin thereof and standards applied in respect of capture and processing;
2021/04/07
Committee: PECH
Amendment 127 #

2019/2178(INI)

Motion for a resolution
Paragraph 5
5. Insists that the proper implementation of the CFP and its future revision should have as its objective achieving in practice the right balance between environmental, economic and social sustainability;
2021/04/07
Committee: PECH
Amendment 134 #

2019/2178(INI)

Motion for a resolution
Paragraph 6 a (new)
6a. Urges the Commission to promote cross-border research and management strategies that take into account the specific characteristics of the Mediterranean and its various zones, leading to the adoption of measures for Member States and third countries to improve fisheries management and step up the fight against IUU fishing;
2021/04/07
Committee: PECH
Amendment 137 #

2019/2178(INI)

Motion for a resolution
Paragraph 6 b (new)
6b. Calls on the Commission to encourage flexibility in management agreements and quota allocation to allow for anticipated changes in stock distribution and thereby avoid creating or exacerbating disputes regarding both internal distribution of major species within Member States and cross-border distribution between neighbouring countries or EEZs (exclusive economic zones);
2021/04/07
Committee: PECH
Amendment 150 #

2019/2178(INI)

Motion for a resolution
Paragraph 7
7. Calls on the Commission to carry out an economic analysis of the social and employment effects and commercial impact of the decline in fishery resources in the Mediterranean, with a view to identifying appropriate support measures to guarantee the sustainability of the industry;
2021/04/07
Committee: PECH
Amendment 157 #

2019/2178(INI)

Motion for a resolution
Paragraph 8 a (new)
8a. Calls for the exchange of good practices and innovation regarding the development of more selective fishing gear and marine waste collection methods, recognising the role of fishers as 'guardians of the sea', in order to contribute to a healthier and cleaner marine environment;
2021/04/07
Committee: PECH
Amendment 164 #

2019/2178(INI)

Motion for a resolution
Paragraph 9 a (new)
9a. Calls for the improved management of protected maritime areas with the constant, close and active involvement of fisheries operators to guarantee their success and ensure adequate protection of biodiversity and activities in the area;
2021/04/07
Committee: PECH
Amendment 167 #

2019/2178(INI)

Motion for a resolution
Paragraph 10
10. Condemns the ongoing violations of the law of the sea in the North African regions along the Mediterranean, including kidnappings, requisitions of vessels, illegal imprisonment, intimidation, controls, harassment, assaults and unfair trials against EU fishers for carrying out their work, in clear violation of international human rights obligations;
2021/04/07
Committee: PECH
Amendment 172 #

2019/2178(INI)

Motion for a resolution
Paragraph 11 a (new)
11a. Calls on the Commission to encourage joint efforts with neighbouring countries to facilitate compliance with agreements concluded by RFMOs (Regional Fisheries Management Organisations) and participation in the good management and recovery of fish stocks;
2021/04/07
Committee: PECH
Amendment 175 #

2019/2178(INI)

Motion for a resolution
Paragraph 12
12. Calls on the Commission, through its agencies, to step up its efforts to monitor EU territorial waters in order to make the conditions in which EU fishers work safer and, where necessary, to provide these agencies with adequate funding, identify third-country vessels fishing illegally and guarantee compliance by all Mediterranean countries with fish stock conservation rules;
2021/04/07
Committee: PECH
Amendment 37 #

2019/2177(INI)

Motion for a resolution
Recital F
F. whereas the landing obligation, which was phased in over a period of four years (2015-2019), makes it mandatory to land and deduct from applicable quotas all catches of regulated species in EU waters, or by EU vessels in international waters, and forbids the use of undersized fish for direct human consumption; whereas, however, an exception should be made for charitable purposes, in order to reduce food waste;
2020/12/17
Committee: PECH
Amendment 50 #

2019/2177(INI)

Motion for a resolution
Recital G a (new)
Ga. whereas small-scale fishing employs more operators and uses more selective gear, causing less environmental damage and playing a key social and economic role, as highlighted by the GFCM's SoMFi 2018 report;
2020/12/17
Committee: PECH
Amendment 102 #

2019/2177(INI)

Motion for a resolution
Paragraph 4
4. Notes that the landing obligation has raised concerns in the fishing industry, especially in mixed fisheries exposed to potential choke species cases and early closure of fisheries; welcomes the measures taken to date – quota swaps and quota pools for by-catch species – and insists on the need to further develop effective by-catch reduction plans with the aim of rebuilding vulnerable stocks, also taking into consideration the social and economic aspect;
2020/12/17
Committee: PECH
Amendment 139 #

2019/2177(INI)

Motion for a resolution
Paragraph 12 – introductory part
12. Stresses that while improving selectivity must be a high priority, implementing the landing obligation requires a cross-sectoral approach and clear incentives to be devised to encourage best practice mitigation; recommends the following accompanying measures and management tools:
2020/12/17
Committee: PECH
Amendment 145 #

2019/2177(INI)

Motion for a resolution
Paragraph 12 – point a
a. using quota-based tools: the distribution of quotas in line with the expected catch composition, further use of adjustments through quota swaps with other Member States and the allocation of estimated discard share of quotas for fishers, especially those operating on a small scale, that opt to use more selective gear;
2020/12/17
Committee: PECH
Amendment 156 #

2019/2177(INI)

Motion for a resolution
Paragraph 12 – point f
f. adopting strategies to use unwanted catches other than for human consumption, or a plan to use them for charitable purposes in order to reduce food waste;
2020/12/17
Committee: PECH
Amendment 14 #

2019/2163(INI)

Motion for a resolution
Recital B
B. whereas the increase in water temperature generated by climate change has a direct and indirect impact on marine species by altering their abundance, diversity and distribution and affecting their feeding, development and reproduction, as well as relations between species; whereas this will trigger changes with a medium- and long-term impact on the availability and trade of fishery and aquaculture products that may have major geopolitical and economic consequences, including in terms of food security and cultural identity;
2020/12/15
Committee: PECH
Amendment 16 #

2019/2163(INI)

Motion for a resolution
Recital B a (new)
Ba. whereas the food security and livelihoods that these industries provide are crucial in many coastal, riverine, island, inland and lagoon regions; and whereas the impacts of climate change on food security are such that the current approaches to assessing the risks to that food security must be altered;
2020/12/15
Committee: PECH
Amendment 21 #

2019/2163(INI)

C. whereas climate change is not the only threat to or stress factor acting on a fishing system, but is a further cause in addition to IUU fishing, marine litter, pollution, loss of habitat, competition for space and environmental variability;
2020/12/15
Committee: PECH
Amendment 23 #

2019/2163(INI)

Motion for a resolution
Recital C a (new)
Ca. whereas the increase in water temperature has a greater impact on certain sea basins, such as the Mediterranean, with changes in water circulation, rising sea levels, winter weather only in some regions, the arrival of non-indigenous species, acidification, asynchronism among species, and paradoxical marine weather phenomena; and whereas in recent years phenomena such as meridionalisation and the tropicalisation of the Mediterranean Sea and Mediterraneanisation of the Black Sea have intensified;
2020/12/15
Committee: PECH
Amendment 26 #

2019/2163(INI)

Motion for a resolution
Recital D
D. whereas, in general, taking an ecosystem-based approach to planning and spatial management in aquaculture could improve the industry’s capacity to adapt, particularly at local level; for this to happen, the risks need to be understood at the relevant spatial and temporal scales, and priority given to the most serious risks and to developing and improving measures and management plans to address those risks by taking participatory approaches and by using the best information available;
2020/12/15
Committee: PECH
Amendment 41 #

2019/2163(INI)

Motion for a resolution
Recital F
F. whereas climate change is having a very clear impact on the oceans, too, given that heat is stored to a greater extent in the water, in addition to other factors exacerbating the gravity of the situation, such as pollution, the disappearance of various species, the substitution of some species to the detriment of others, lack of oxygen, acidification, etc.;
2020/12/15
Committee: PECH
Amendment 44 #

2019/2163(INI)

Motion for a resolution
Recital F a (new)
Fa. whereas the preservation of the ocean is important not only for fishing, but also because the disappearance of one species also has a major impact on other species;
2020/12/15
Committee: PECH
Amendment 45 #

2019/2163(INI)

Motion for a resolution
Recital F b (new)
8b. whereas fishery products have a very low carbon footprint and are important foods underpinning the Mediterranean diet, which is recognised by UNESCO as part of the cultural heritage of humanity;
2020/12/15
Committee: PECH
Amendment 46 #

2019/2163(INI)

Motion for a resolution
Recital G
G. whereas the warming of the waters is not the only consequence of climate change, but there are other aspects, too, such as deoxygenation, acidification and desalination, asynchronism among species, and changes in ocean currents and in the transport of nutrients, which should be looked at together because together they affect ecosystems;
2020/12/15
Committee: PECH
Amendment 49 #

2019/2163(INI)

Motion for a resolution
Recital G a (new)
Ga. whereas rising temperatures can also affect wind farms and the human activities connected with them;
2020/12/15
Committee: PECH
Amendment 51 #

2019/2163(INI)

Motion for a resolution
Recital H
H. whereas seaweed, which is increasingly widespread in our seas, is recognised as a valuable foodstuff for humans and animals and can be used in agriculture and horticulture, cosmetics, and to produce organic packaging, biofuels, textiles, detergents and green building materials; whereas, in addition to itsthe environmental benefits and economic potential, the seaweed expected from the increase in seaweed production in Europe, that sector would support most of the UN Sustainable Development Goals;
2020/12/15
Committee: PECH
Amendment 101 #

2019/2163(INI)

Motion for a resolution
Paragraph 1 a (new)
1a. Welcomes the Commission’s determination to organise international action to monitor the impact of ocean warming, sea level rise and seawater acidification, as well as other climate- change related ecosystem stress factors;
2020/12/15
Committee: PECH
Amendment 109 #

2019/2163(INI)

Motion for a resolution
Paragraph 2
2. Calls for the strengthening and development of international scientific programmes to monitor the temperature, salinity and heat absorption of theaquatic environments and oceans and to establish a global ocean observation network in order better to predict the impact of climate change on the functioning of the oceans, carbon absorption and management of living marine resources, and other effects on ecosystems;
2020/12/15
Committee: PECH
Amendment 111 #

2019/2163(INI)

Motion for a resolution
Paragraph 2 a (new)
2a. Stresses that the complexity of the effects of climate change and of ecosystems should be factored into the planning and implementation of all efforts to adapt to and mitigate climate change;
2020/12/15
Committee: PECH
Amendment 113 #

2019/2163(INI)

Motion for a resolution
Paragraph 2 b (new)
2c. Considers that the fisheries sector should be shielded and supported, as it is one of the main traditional human activities conducted in the marine environment, making it a key component of integrated maritime policy and maritime spatial planning;
2020/12/15
Committee: PECH
Amendment 117 #

2019/2163(INI)

Motion for a resolution
Paragraph 3
3. Stresses that fisheries is the sector most affected by the many other uses of, and activities taking place on, the seas, such as non-sustainable maritime transport and tourism, urban and coastal development, the exploitation of raw materials and energy sources, and seafloor mining, as well as being affected by environmental issues such as marine pollution and climate change;
2020/12/15
Committee: PECH
Amendment 121 #

2019/2163(INI)

Motion for a resolution
Paragraph 4 a (new)
4a. Considers that in order to adapt one must grasp both the environmental and the economic vulnerability of fisheries and aquaculture, and be able to identify the main drivers and the scale of exposure to climate change; while it is generally difficult to predict what will happen in the future, adverse impacts can be reduced by making the sector more robust and stepping up measures to minimise exposure to them;
2020/12/15
Committee: PECH
Amendment 123 #

2019/2163(INI)

Motion for a resolution
Paragraph 5
5. Reiterates that with regard to the current and future effects of climate change and the threats it poses, adaptationthe viability and sustainability of the socio-economic and ecological systems which make up the fisheries and aquaculture industries will depend on their capacity to adapt to the current and future effects of climate change and the threats it poses; points out that it will only be possible to plan and implement effective adaptation mechanisms if there is enough information on current and future risks and vulnerabilities; notes, moreover, that every fishing business and aquaculture community or business will exist in a specific and probably unique geographical, environmental, institutional and socio-economic context and that, in other words, they will all be trying to cope with different and unique risks and vulnerabilities; stresses that adaptation to climate change, therefore, must start with a good understanding of each fishing or aquaculture system and an accurate assessment of climate variability and likely future impacts on the environment, people and biodiversity, in order to strengthen productive and resilient aquatic ecosystems and maintain benefits for consumers and animal health;
2020/12/15
Committee: PECH
Amendment 125 #

2019/2163(INI)

Motion for a resolution
Paragraph 5 a (new)
5a. Is of the view that effective adaptation in the fisheries and aquaculture sector as a whole is needed, with priority to be given to the more vulnerable and socially fragile sectors; points out that in order to make aquatic ecosystems more productive and more resilient and keep them that way, with the attendant benefits in terms of the protection of consumers and animal health, particular attention needs to be paid to the most vulnerable if the sector is truly to continue to make a contribution to meeting the global objectives of poverty reduction and food security;
2020/12/15
Committee: PECH
Amendment 126 #

2019/2163(INI)

Motion for a resolution
Paragraph 5 b (new)
5b. Recommends that the Commission and the Member States provide for appropriate support measures, such as insurance regimes and social protection systems for the groups that are the most exposed to climate change; takes the view that certain countries facing the Mediterranean Sea and the Black Sea are more exposed to such change and to extreme weather events, are less able to adapt to them and are therefore more vulnerable;
2020/12/15
Committee: PECH
Amendment 134 #

2019/2163(INI)

Motion for a resolution
Paragraph 7 a (new)
7a. Has found that growth rates of harmful algae and pathogenic bacteria in the marine environment can increase with global warming and that changes to the seasons and other conditions may have an effect on the incidence of parasites and some foodborne viruses;
2020/12/15
Committee: PECH
Amendment 140 #

2019/2163(INI)

Motion for a resolution
Paragraph 8 a (new)
8a. Calls for a transition from reactive management, in the wake of disasters, to proactive management and measures to reduce risk and further climate-related threats;
2020/12/15
Committee: PECH
Amendment 141 #

2019/2163(INI)

Motion for a resolution
Paragraph 8 b (new)
8b. Considers it a matter of urgency, in order to prevent, prepare for and mitigate the impact of extreme events and disasters on fisheries and aquaculture, to invest heavily in risk reduction through mitigation and adaptation measures for the environment and the fishing economy; points out that in the fisheries and aquaculture sector, due consideration for the health of aquatic ecosystems is an important part of climate change adaptation and disaster risk reduction;
2020/12/15
Committee: PECH
Amendment 158 #

2019/2163(INI)

Motion for a resolution
Paragraph 9 – point b
b) the creation of alternative livelihoods (fishing of other speciesnon- indigenous, thermophilic species, numbers of which are growing): new opportunities will open up for small-scale fisheries and the communities which depend on them, as new, potentially marketable species could increase catches and therefore profitability. The arrival of non-indigenous species will also cause problems for those who fish native species, which may be mitigated by catching them for commercial purposes;
2020/12/15
Committee: PECH
Amendment 164 #

2019/2163(INI)

Motion for a resolution
Paragraph 9 – point c
c) promotion of new species through targeted communication policies that are both wide-ranging (such as TV broadcasts and cookery programmes) and local (through regional policies aiming at the consumption of fish in canteens, hospitals and wherever there is great demand). It is important to inform consumers that the choice of sustainable fish products can play a role in the solution to climate change. Responsible fish is a healthy and sustainable option;
2020/12/15
Committee: PECH
Amendment 167 #

2019/2163(INI)

Motion for a resolution
Paragraph 9 – point d
d) by improving the resilience and economic stability of small-scale fishermen by providing better access to credit, micro- financing, insurance services and investment, including through the future EMFFallowing individual Member States to decide what percentage of EU funds to use for that purpose;
2020/12/15
Committee: PECH
Amendment 173 #

2019/2163(INI)

Motion for a resolution
Paragraph 9 – point e
e) implementation of measures to improve early warning systems and safety at sea and to protect fishing-related infrastructure, making ports, landing sites and markets, for example, more secure; and to alert maritime authorities, fish markets, fishermen and consumers to the presence of toxic or poisonous non- indigenous species or other events relating to fish consumption which could have an impact on dietary health;
2020/12/15
Committee: PECH
Amendment 176 #

2019/2163(INI)

Motion for a resolution
Paragraph 9 – point f
f) flexibility in management and allocation agreements, so that prompt and responsible approaches can be taken. Expected changes in stock distribution could lead to new conflicts or exacerbate existing ones between users, where fish resources are shared or extend beyond international bordersther in individual countries or where the distribution of important species stretches into neighbouring countries or EEZs (exclusive economic zones). Where fish resources are shared or extend beyond international borders, cross-border cooperation with non-EU countries could be implemented, especially in the Mediterranean, for both the management of resources that are sensitive to climate change, using shared stocks, and for the development of shared early warning strategies and adaptation on a basin scale;
2020/12/15
Committee: PECH
Amendment 177 #

2019/2163(INI)

Motion for a resolution
Paragraph 9 – point f a (new)
fa) by protecting, promoting and developing small-scale fisheries, which has been the most adversely affected by the crisis in the sector, by the depletion of resources and by climate change, but which is showing greater resilience owing to its adaptable nature, its ability to make the most of its circumstances and its versatility, which can enable it to address the climate change challenge. To that end, co-management programmes should be developed, with a view also to protecting the cultural identity and intangible heritage of small-scale artisanal fishing communities, necessary for the diversification of supply with a shift to fishing tourism activities that can enable consumers of fish products to adapt accordingly;
2020/12/15
Committee: PECH
Amendment 181 #

2019/2163(INI)

Motion for a resolution
Paragraph 9 – point g a (new)
ga) calls on the Commission to take these requests into account and to respond to them in its new climate change adaptation strategy, which it plans to submit by the end of 2021, and in all its forthcoming legislative proposals;
2020/12/15
Committee: PECH
Amendment 29 #

2019/2162(INI)

Motion for a resolution
Recital A
A. whereas the common fisheries policy (CFP) is aimed at ensuring that fishing and aquaculture activities are environmentally, socially and economically sustainable in the long term and at progressively restoring and maintaining populations of fish stocks above biomass levels capable of producing the maximum sustainable yield (MSY);
2020/09/11
Committee: PECH
Amendment 94 #

2019/2162(INI)

Motion for a resolution
Paragraph 4
4. Calls on the Commission to continue to support plans to improve selectivity and to take into account the results of studies showing the detrimental impacts of fishing techniques such as bottom-contacting gear or fish aggregating devices (FADs) by strongly limiting their useencourage exchanges of good practices regarding the use of alternative and more sustainable fishing techniques and devices;
2020/09/11
Committee: PECH
Amendment 117 #

2019/2162(INI)

Motion for a resolution
Paragraph 7
7. Calls on the Commission to progressively seek scientific advice on MEY, starting with the most important stocks and providing adequate and updated social and economic impact studies;
2020/09/11
Committee: PECH
Amendment 122 #

2019/2162(INI)

Motion for a resolution
Paragraph 8
8. Calls on the Commission to progressively propose TACs that are set at the level of MEY for all stocks in the long term and for 30 % of TACs by 2030;deleted
2020/09/11
Committee: PECH
Amendment 146 #

2019/2162(INI)

Motion for a resolution
Paragraph 10
10. Welcomes the Commission’s proposal, in its 2030 Biodiversity Strategy, to have at least 30 % of sea area in the EU protectedprotect the EU sea area more effectively;
2020/09/11
Committee: PECH
Amendment 155 #

2019/2162(INI)

Motion for a resolution
Paragraph 11
11. Calls for half of that area, meaning 15 % of European waters, to benefit from a high level of protection, which includes areasa high level of protection, based on suitable scientific assessment, for areas recognised as being at risk, including those where all catches and any economic activities are prohibited (no-take zones), areas where only the most destructive fishing techniques, such as bottom-contacting gear shown to have an adverse impact, are banned, and fish stock recovery areas, as provided for under the CFP;
2020/09/11
Committee: PECH
Amendment 175 #

2019/2162(INI)

Motion for a resolution
Paragraph 15
15. Urges Member States to set stronger and more effective management plans for the existing MPAs and to put in place strongeruitable control measures to ensure that MPAs are respected, including by involving the fisheries sector;
2020/09/11
Committee: PECH
Amendment 185 #

2019/2162(INI)

Motion for a resolution
Paragraph 16
16. Recognises that the success of MPAs and other protected areas lies in them being accepted and embraced by fishers, coastal communities and other stakeholders; calls therefore for the inclusion of the fisheries sector, including its artisanal component, as well as other relevant stakeholders, in the design, management and monitoring of MPAs, providing them with adequate funding to meet the cost of prohibitions;
2020/09/11
Committee: PECH
Amendment 205 #

2019/2162(INI)

Motion for a resolution
Paragraph 19
19. Stresses that rapid and strong action to fight climate change and mitigate its effects on water temperature, for example, is essential for the preservation of healthy fish populations, and therefore for the continuity of fishing activity and for food security in the long term;
2020/09/11
Committee: PECH
Amendment 215 #

2019/2162(INI)

21. Calls on the Commission to consider these requests and to respond to them in its new action plan to preserve fisheries resources and protect marine ecosystems and coastal communities dependent on small-scale fishing activities, which it plans to present by 2021, as well as in all forthcoming legislative proposals;
2020/09/11
Committee: PECH
Amendment 28 #

2019/2161(INI)

Motion for a resolution
Recital A a (new)
Aa. whereas a holistic approach is needed for the different EU strategies, including the EU 2030 biodiversity strategy and the 'farm to fork' strategy;
2021/02/24
Committee: PECH
Amendment 31 #

2019/2161(INI)

Motion for a resolution
Recital A b (new)
Ab. whereas demographic changes in Europe must also be taken into account;
2021/02/24
Committee: PECH
Amendment 43 #

2019/2161(INI)

Motion for a resolution
Recital F
F. whereas, even without any specific data covering only the fisheries sector, it is possible to obtain some information on the age of fisheries workers in some of the Member States’ statistics services; whereas the figures show that the percentage of fishers aged 55 or older has been increasing in the last 10 years and currently stands at some 20% of active fishers and, on the other hand, the percentage of young fishers (aged 340 or younger) does not display a clear trend, remaining between 20 and 23% of active fishers;
2021/02/24
Committee: PECH
Amendment 51 #

2019/2161(INI)

Motion for a resolution
Recital G
G. whereas, even so, the majority of Member States and the EU’s economic partners in the fishing industry refer often to young people’s lack of interest in fishing, a fact which was first acknowledged at least two decades ago, and which creates additional difficulties in the industry as a whole and exacerbates social problems in coastal, riverside, island and lakeside communities;
2021/02/24
Committee: PECH
Amendment 55 #

2019/2161(INI)

Motion for a resolution
Recital H a (new)
Ha. whereas 32 000 lives are lost every year in the fisheries sector, not to mention the thousands of victims of more or less serious accidents; furthermore, as has also been pointed out by professional organisations, occupational diseases among those engaged in this laborious activity have increased alarmingly in recent years;
2021/02/24
Committee: PECH
Amendment 56 #

2019/2161(INI)

Motion for a resolution
Recital H b (new)
Hb. whereas, when all is said and done, fishing is a backbreaking occupation involving serious risks to the health and safety of those engaged in it; whereas the International Labour Organisation recognised this problem in a convention dating back to 2007 and calls on the countries that have ratified it to guarantee safe and healthy working conditions in this sector;
2021/02/24
Committee: PECH
Amendment 60 #

2019/2161(INI)

Motion for a resolution
Recital I a (new)
Ia. whereas the high accident rate is in many cases attributable to the use of antiquated vessels and/or obsolete equipment, particularly in certain Member States;
2021/02/24
Committee: PECH
Amendment 77 #

2019/2161(INI)

Motion for a resolution
Recital M a (new)
Ma. whereas small-scale fishing plays a decisive social and economic role, accounting for 80% of fisheries in the EU and directly or indirectly providing work for a significant number of operators;
2021/02/24
Committee: PECH
Amendment 81 #

2019/2161(INI)

Motion for a resolution
Recital M b (new)
Mb. whereas the fisheries sector is in a serious economic crisis due to the COVID-19 pandemic;
2021/02/24
Committee: PECH
Amendment 102 #

2019/2161(INI)

Motion for a resolution
Paragraph 8
8. Points out that professional maritime activities in general are considered high risk and dangerous, particularly fishing, and this situation is made worse by the fact that 85% of EU vessels are small-scale coastal vessels (less than 12 m in total length), many of them antiquated, and are, therefore, exposed to greater risks caused by adverse weather conditions and by operating close to shore;
2021/02/24
Committee: PECH
Amendment 109 #

2019/2161(INI)

Motion for a resolution
Paragraph 10
10. Reiterates that working and living conditions on board cannot be seen separately from safety conditions; takes the view that good working and living conditions on vessels and the suitable modernisation thereof improve the safety conditions in which fishing operations are carried out, as does time to rest for fishers, with direct implications for their safety, as a large percentage of accidents and incidents on fishing vessels continue to be linked to human error, whether caused by lack of knowledge or training or by fatigue;
2021/02/24
Committee: PECH
Amendment 111 #

2019/2161(INI)

Motion for a resolution
Paragraph 11
11. Points out that maritime workers, including fishers, are often excluded from the scope of European and Member States’ national legal frameworks on labour, taking into account that many rules do not apply to the reality of these workers’ activities; points out that, as it is not possible to apply general labour schemes, it is necessary to ensure that a number of basic premises related to employment regulations are provided, in a tailored manner, for seafarers and, in particular, for fishers and fish farmers;
2021/02/24
Committee: PECH
Amendment 121 #

2019/2161(INI)

Motion for a resolution
Paragraph 15
15. Recalls that the ultimate goal of the CFP is to make fishing activity socially, environmentally and economically sustainable, and that only with good working, living and safety conditions will it be possible to attract young people and achieve the generational renewal of this activity which provides EU citizens with healthy and good-quality food;
2021/02/24
Committee: PECH
Amendment 126 #

2019/2161(INI)

Motion for a resolution
Paragraph 16
16. Urges the Commission and the Member States to ensure that the best safety, work and living standards are in place on fishing vessels, regardless of their size; proposes that steps be taken to establish basic legal rules applicable in a uniform and cross-cutting manner to the entire EU fishing fleet, taking into account specific characteristics concerning vessel size and the types of fishing operation for which vessels are intended, as well as specific local conditions;
2021/02/24
Committee: PECH
Amendment 129 #

2019/2161(INI)

Motion for a resolution
Paragraph 17
17. Insists on the need to ensure that the European Maritime, Fisheries and Aquaculture Fund (EMFAF) makes a significant contribution to improving the working, living and safety conditions on EU vessels, finding ways to improve those conditions without increasing fishing capacity, with particular attention paid to small-scale coastal fishing vessels; expresses concern at the failure of the new EMFAF to facilitate the modernisation of obsolete vessels in order to make them more environmentally sustainable and safer to work on;
2021/02/24
Committee: PECH
Amendment 197 #

2019/2161(INI)

Motion for a resolution
Paragraph 37
37. Stresses the need to ensure the continuity of fishing activity, generational renewal and greater social recognition for this sector and its importance for the sustainable supply of healthy food for Europeans that come from environmentally sound habitats; points out that the cultural identity and intangible heritage of coastal, riverside, island and lakeside communities, especially small-scale fishing, must be protected and enhanced;
2021/02/24
Committee: PECH
Amendment 230 #

2019/2161(INI)

Motion for a resolution
Paragraph 42
42. Points out that improvements in the conservation status of fish stocks have boosted fishermen’s productivity and average earnings, as well as achieving a reduction in carbon dioxide and other greenhouse gas emissions; notes that fishermen have been increasingly involved in the collection of all marine refuse, including but not only lost or abandoned fishing gear, and that their ecological contribution in this respect should be recognised and encouraged, for example through the use of ESI and, more specifically, EMFAF funding;
2021/02/24
Committee: PECH
Amendment 238 #

2019/2161(INI)

Motion for a resolution
Paragraph 43
43. Welcomes the proposals under discussion in connection with the 2021- 2027 EMFAF to provide assistance and support for young fishermen engaged in the first purchase of a vessel or fishing enterprise; stresses the need to attract young people to not only sea fishing activities, but also fishing enterprise management, thereby ensuring generational renewal across the entire sector, including fish farming;
2021/02/24
Committee: PECH
Amendment 243 #

2019/2161(INI)

Motion for a resolution
Paragraph 43 a (new)
43a. Calls on the Commission and the Member States to support efforts to promote social dialogue between the parties, concerning the following in particular: (a) training for young entrepreneurs in the fisheries sector, (b) professional updating and skills development for sustainable fisheries (c) raising awareness of good fishing practices (d) safety and protection of human life at sea (e) onboard health and safety of workers;
2021/02/24
Committee: PECH
Amendment 269 #

2019/2161(INI)

Motion for a resolution
Paragraph 48 a (new)
48a. Calls on the Commission to provide adequate support for the most vulnerable micro and small fishing enterprises and simplify bureaucratic formalities, enhancing the resilience and economic stability of small-scale fishermen, providing better access to credit, micro-financing, insurance services and investment and allowing individual Member States to decide what percentage of EU funds to use;
2021/02/24
Committee: PECH
Amendment 272 #

2019/2161(INI)

Motion for a resolution
Paragraph 48 b (new)
48b. Calls on the Commission and Member States to help facilitate access to risk management tools for fishing and fish farming enterprises, including incentives to take out insurance or mutual fund cover against losses caused by one or more of the following events: (a) natural disasters, (b) adverse climatic events,(c) sudden changes in water quality and quantity for which the operator is not responsible, (d) diseases affecting fish farming and the malfunctioning or destruction of equipment for which the operator is not responsible, (e) costs of rescuing fishing vessels or their crews in the event of accidents at sea during fishing activities;
2021/02/24
Committee: PECH
Amendment 274 #

2019/2161(INI)

48c. Urges the Commission and the Member States to refrain from entering into trade agreements with third countries that fail to respect workers' rights and/or to suspend existing trade agreements with them;
2021/02/24
Committee: PECH
Amendment 45 #

2019/2160(INI)

Motion for a resolution
Recital B a (new)
Ba. whereas a substantial proportion of the plastics and microplastics in the sea comes from land-based sources;
2020/11/13
Committee: PECH
Amendment 47 #

2019/2160(INI)

Motion for a resolution
Recital B b (new)
Bb. whereas the volume of plastic in the sea also has a significant impact on fisheries, which is even greater and more costly where small-scale fishing is concerned;
2020/11/13
Committee: PECH
Amendment 66 #

2019/2160(INI)

Motion for a resolution
Recital E a (new)
Ea. whereas Article 48 of the Fisheries Control Regulation, which lays down measures for the retrieval of lost fishing gear, is a step in the right direction but is too limited in scope;
2020/11/13
Committee: PECH
Amendment 68 #

2019/2160(INI)

Motion for a resolution
Recital E b (new)
Eb. whereas ghost fishing occurs when lost or abandoned, non-biodegradable fishing nets, traps and lines catch, entangle, injure, starve and cause the death of marine life; whereas the phenomenon of ghost fishing is brought about by the loss and abandonment of fishing gear; whereas the Fisheries Control Regulation requires the mandatory marking of gear and the notification and retrieval of lost gear; whereas some fishermen therefore bring back to port, at their own initiative, lost nets retrieved from the sea;
2020/11/13
Committee: PECH
Amendment 72 #

2019/2160(INI)

Motion for a resolution
Recital E c (new)
Ec. whereas an estimated 80% of marine litter is accounted for by plastic and microplastic, somewhere between 20% and 40% of plastic marine litter is linked in part to human activities at sea, including merchant and cruise ships, with the rest originating on land, and, according to a recent FAO study, roughly 10% comes from lost and abandoned fishing gear; whereas lost and abandoned fishing gear is one component of plastic marine litter and, given that an estimated 94% of the plastic entering the ocean ends up on the sea floor, the European Maritime and Fisheries Fund (EMFF) needs to be used to ensure that fishermen become directly involved in fishing for marine litter schemes by being paid or offered other financial or material incentives;
2020/11/13
Committee: PECH
Amendment 106 #

2019/2160(INI)

Motion for a resolution
Paragraph 2
2. Calls on the Commission to champion an ambitious governance model in international UN negotiations on marine biodiversity beyond national jurisdictions and to recognise the ocean as a common good, with a view to adopting a new approach that prioritises individual and collective responsibilities over the traditional principles of freedom and sovereign rights, as laid down in the Law of the Sea, and thus ensures that the sea is protected;deleted
2020/11/13
Committee: PECH
Amendment 112 #

2019/2160(INI)

Motion for a resolution
Paragraph 2 a (new)
2a. Emphasises that Resolution 11 of the UN Environment Assembly of the UN Environment Programme of 23- 27 May 2016 recognised that the presence of plastic litter and microplastics in the marine environment is an issue of global concern that is rapidly becoming more and more worrying and that needs an urgent global response that incorporates a product life-cycle approach;
2020/11/13
Committee: PECH
Amendment 116 #

2019/2160(INI)

Motion for a resolution
Paragraph 3
3. Calls on the Commission and the Member States to coordinate on the basis of a single timetable their work on laws such as the marine strategy framework directive, the water framework directive, the directive on the reduction of the impact of certain plastic products on the environment, the directive on port reception facilities and the framework directive for maritime planning, with a view to making legislation in this area more consistent and avoiding adding layers of regulation that could complicate the legal framework for action;
2020/11/13
Committee: PECH
Amendment 134 #

2019/2160(INI)

Motion for a resolution
Paragraph 5
5. Urges the Commission to play a major role in the UN’s Decade of Ocean Science and to support digitisation and the use of artificial intelligence with a view to improving our understanding of the oceans and our impact on them;
2020/11/13
Committee: PECH
Amendment 146 #

2019/2160(INI)

Motion for a resolution
Paragraph 6 a (new)
6a. Calls on the Commission and the Member States to support research into not only the use of biodegradable fishing gear but also other sources of pollution of the sea with plastics and microplastics;
2020/11/13
Committee: PECH
Amendment 147 #

2019/2160(INI)

Motion for a resolution
Paragraph 7
7. Points out that the directive on single-use plastics concerns waste commonly found on beaches; urges the Commission to step up existing measures on single-use plastics,take into account that solutions for tackling waste from plastics cannot be isolated from an overall plastics strategy; invites the Commission, therefore, to drawing, in particular, on work to be done on waste in the water column and on sea beds as part of the Marine Strategy Framework Directive, and to take account of the impact of some forms of marine waste, such as polystyrene packaging from fishery products;
2020/11/13
Committee: PECH
Amendment 154 #

2019/2160(INI)

Motion for a resolution
Paragraph 8
8. Calls for information on the loss of fishing gear at sea to be put to more effective use when it comes to tackling marine pollution through improved data- sharing among Member States, the Commission and EU agencies, and for this information to be used to develop new tools for identifying and tracking fishing gear lost at sea without, however, creating a financial burden on fisheries and aquaculture operators;
2020/11/13
Committee: PECH
Amendment 163 #

2019/2160(INI)

Motion for a resolution
Paragraph 9
9. Stresses that reducing the impact of marine waste is contingent on improvements to the circular economy on land, and on the adoption of a life-cycle approachn approach based on reuse, in all its forms, in the fisheries sector;
2020/11/13
Committee: PECH
Amendment 164 #

2019/2160(INI)

Motion for a resolution
Paragraph 10
10. Calls for the eco-design of fishing gear to be supported through the swift adoption of guidelines on the development of harmonised standards for a circular economy for fishing gear; supports the marking of materials used in fishing gear by means of product passports; supports the promotion of research and innovation seeking to simplify the materials used in fishing gear, including polymers;
2020/11/13
Committee: PECH
Amendment 176 #

2019/2160(INI)

Motion for a resolution
Paragraph 11
11. Supports the development of efficient recycling channels through the upgrading ofby incentivising reception facilities at European ports with a view to improving selective waste sorting; calls for collection operations to be made more attractive by taking measures to support fishermen and aquaculture producers that bring their end- of-life fishing or aquaculture gear back to port;
2020/11/13
Committee: PECH
Amendment 201 #

2019/2160(INI)

Motion for a resolution
Paragraph 14
14. Stresses that the role of fishermen in voluntary collection programmes which make it possible to identify, collect and recycle marine waste, such as the ‘Fish for Litter’ programme must be promoted and supported, using Community funds to incentivise investment for such purposes;
2020/11/13
Committee: PECH
Amendment 210 #

2019/2160(INI)

Motion for a resolution
Paragraph 14 a (new)
14a. Points out that the accidental collection of waste by fishing vessels is excluded from the cost recovery system;
2020/11/13
Committee: PECH
Amendment 212 #

2019/2160(INI)

Motion for a resolution
Paragraph 14 b (new)
14b. Stresses that the Member States must do more to encourage the fisheries industry to apply for EMFF grants allowing them to make the necessary changes to their fishing gear in order to minimise their impact on marine ecosystems and wildlife and, to the extent possible, prevent the financial burden from falling on fishermen; calls, at the same time, on the Commission and the Member States to do more to promote the use of the EMFF and other funds to support campaigns for the collection of plastic at sea;
2020/11/13
Committee: PECH
Amendment 230 #

2019/2160(INI)

Motion for a resolution
Paragraph 16 a (new)
16a. Calls on the Commission and the Member States to promote campaigns to raise awareness of the issue of marine pollution caused by plastics and microplastics, underlining the fact that fishermen are also often affected by this phenomenon, especially in the case of microplastics;
2020/11/13
Committee: PECH
Amendment 58 #

2019/2158(INI)

Motion for a resolution
Paragraph 1
1. Is concerned about the negative long-term impact that offshore wind turbines have on ecosystems, bird migration flows, fish stocks and biodiversity, and consequently on fisheries as a whole, over their life cycle, from construction through operation and decommissioning;
2021/03/29
Committee: PECH
Amendment 70 #

2019/2158(INI)

Motion for a resolution
Paragraph 2
2. Stresses that the large-scale roll-out of offshore wind farms (OWFs) risks harming the physical functioning of the sea basin, leading to potential direct, indirect or induced effects, in particular sea and air currents, which might contribute to a mixing of the stratified water column and consequently influence the nutrient cycle, wave generation, tidal amplitudes and bedload sediment transport, while infrasonic noise from rotating blades could chase fish away from OWFs, and electromagnetic fields from underwater cables, as well as underwater noise from pile driving, could have severe negative impacts on marine life; as a result, inter alia, of maintenance activities and the consequent risk that pollutants (paint or sand) or copper may be dispersed owing to wear on turbine bearings.
2021/03/29
Committee: PECH
Amendment 89 #

2019/2158(INI)

Motion for a resolution
Paragraph 3
3. Stresses that potential artificial reef effects are limited to the operational phase of an offshore wind turbine and that decommissioning may make any benefits temporary and very costly;
2021/03/29
Committee: PECH
Amendment 90 #

2019/2158(INI)

Motion for a resolution
Paragraph 3 a (new)
3a. Stresses that the visual impact would have a significant effect on the coastline, taking into account the warning lights on turbines, among other factors, and this visual impact, together with the noise impact, would drive away both birds and fish;
2021/03/29
Committee: PECH
Amendment 99 #

2019/2158(INI)

Motion for a resolution
Paragraph 5
5. States that OWFs can have an impact on fisheries by changing the spatial distribution and abundance of commercially fished marine species as well as through their closure for safety reasons or the imposition of a change in fishing activity or method, for example from active to passive;
2021/03/29
Committee: PECH
Amendment 107 #

2019/2158(INI)

Motion for a resolution
Paragraph 6
6. Stresses that small-scale fishing enterprises will be particularly affected by displacement as they, suffering socio-economic damage to their activities, especially coastal communities, whose fishers may not have the capacity to move to fishing grounds further afield or to change fishing method;
2021/03/29
Committee: PECH
Amendment 109 #

2019/2158(INI)

Motion for a resolution
Paragraph 6
6. Stresses that small-scale and coastal fishing enterprises will be particularly affected by displacement as they may not have the capacity to move to fishing grounds further afield or to change fishing method;
2021/03/29
Committee: PECH
Amendment 123 #

2019/2158(INI)

Motion for a resolution
Paragraph 9
9. Stresses that overlap analysis of offshore renewables and fisheries suggests a sharp increase in special conflict potential in European waters over the coming years as further space would be taken away from fisheries in areas already subject to other constraints;
2021/03/29
Committee: PECH
Amendment 127 #

2019/2158(INI)

Motion for a resolution
Paragraph 10
10. Stresses that today, fishing activities (active or passive) in OWFs are limited or prohibited in most Member States, thus reducing the authorised fishing area;
2021/03/29
Committee: PECH
Amendment 130 #

2019/2158(INI)

Motion for a resolution
Paragraph 11
11. Is concerned about the fact that fishers tend to avoid fishing in OWFs even if access is permitted because of the risk of accidental damage, snagging and loss of fishing gear, and that consequently the fear of potential exposure to prosecution is a source of concern that hinders co- existence and reduces the authorised fishing area, particularly for small-scale coastal fishing;
2021/03/29
Committee: PECH
Amendment 132 #

2019/2158(INI)

Motion for a resolution
Paragraph 11 – subparagraph 1 (new)
Expresses concern about the safety of shipping and maritime transport owing to the lengthening of routes, which is not only dangerous for fishers but also has repercussions on pollution;
2021/03/29
Committee: PECH
Amendment 138 #

2019/2158(INI)

Motion for a resolution
Paragraph 12
12. Stresses that the decommissioning of offshore wind turbines must neither generate enduring environmental impacts for the ecosystem created nor pose safety risks to fishing vessels due to any remaining sub-seabed infrastructure;
2021/03/29
Committee: PECH
Amendment 139 #

2019/2158(INI)

Motion for a resolution
Paragraph 12 a (new)
12a. Points out that the materials used in wind farms are often difficult to dispose of and that construction projects must provide for the proper recycling of materials, along with regular ex ante and ex post environmental, social and economic impact assessments;
2021/03/29
Committee: PECH
Amendment 151 #

2019/2158(INI)

Motion for a resolution
Paragraph 16
16. States that maritime spatial planning must play a key role, taking into account the specific characteristics of every marine area, and has to put greater emphasis on the assessment of achieving co-location options, which is of the utmost importance in achieving a win- win situation for both sustainable fisheries and the offshore energy sector;
2021/03/29
Committee: PECH
Amendment 167 #

2019/2158(INI)

Motion for a resolution
Paragraph 19
19. Stresses that effective and early stakeholder consultation and participation, proper socio-economic impact assessments, the creation of transparent guidelines and the payment of compensation, particularly to small-scale coastal fisheries affected by the proximity of wind farms, could alleviate the potential for conflict and create a level playing field between fisheries and offshore renewables;
2021/03/29
Committee: PECH
Amendment 177 #

2019/2158(INI)

Motion for a resolution
Paragraph 21
21. Notes that further EU legislation might be required in case Member States’ maritime spatial planning does not guarantee the fair inclusion of fisheriesMember States need to be given support for the fair inclusion of fisheries in their maritime spatial planning;
2021/03/29
Committee: PECH
Amendment 180 #

2019/2158(INI)

Motion for a resolution
Paragraph 21
21. Notes that further EU legislation mightwill be required in case Member States’ maritime spatial planning does not guarantee the fair inclusion of fisheries;
2021/03/29
Committee: PECH
Amendment 30 #

2019/2131(INI)

Motion for a resolution
Recital C a (new)
C a. whereas the advancing challenge of competition with a deeply subsidised big economy like the Chinese one submits a necessary revaluation of EU economy model;
2020/01/10
Committee: ECON
Amendment 38 #

2019/2131(INI)

Motion for a resolution
Paragraph 1
1. Calls on the Commission to develop the influence of competition policy in the world, in particular by stepping up cooperation with the USA and China and by adopting measures to strengthen EU companies facing non Eu competitors;
2020/01/10
Committee: ECON
Amendment 59 #

2019/2131(INI)

Motion for a resolution
Paragraph 3
3. Calls on the Commission to ensure reciprocity with third countries in public procurement and, in investment policy and in free trade agreements in order to secure the respect of EU standards in public health, labour rights and environment;
2020/01/10
Committee: ECON
Amendment 70 #

2019/2131(INI)

Motion for a resolution
Paragraph 5
5. Calls on the Commission to ensure the balanced application of State aid control to European operators in order to avoid asymmetries with their foreign competitors, who are not subject to it, and to provide express exemptions to State aid constraints for specific areas, such as islands, in consideration of their structural competitive disadvantage, or for regions interested by decreasing population;
2020/01/10
Committee: ECON
Amendment 113 #

2019/2131(INI)

Motion for a resolution
Paragraph 7 a (new)
7 a. Calls for the recognition of a golden share to the EU Member States, to allow them to secure important strategic national assets;
2020/01/10
Committee: ECON
Amendment 154 #

2019/2131(INI)

Motion for a resolution
Paragraph 9 a (new)
9 a. Calls on the Commission and the Member States to adopt appropriate measures to facilitate start-ups and SMEs' access to private and public funding for their business and growth;
2020/01/10
Committee: ECON
Amendment 164 #

2019/2131(INI)

Motion for a resolution
Paragraph 10
10. Stresses that some entities, benefiting from dual status as both platforms and suppliers, abuse their position to impose unfair terms on competitors; calls on the Commission to penalise them;
2020/01/10
Committee: ECON
Amendment 168 #

2019/2131(INI)

Motion for a resolution
Paragraph 10 a (new)
10 a. Calls on the Commission to suggest solutions to prevent and prohibit the simultaneous ownership of complementary platforms by the same players;
2020/01/10
Committee: ECON
Amendment 197 #

2019/2131(INI)

Motion for a resolution
Paragraph 14
14. Encourages the Commission to increase freedom of choice for consumers and to set up a European consumer protection authorityby promoting tools that ensure the biggest transparency about the composition of products that impact on the consumers' health, in order to secure conscious choices and consumption;
2020/01/10
Committee: ECON
Amendment 280 #

2019/2131(INI)

Motion for a resolution
Paragraph 21
21. Calls on the Commission to fully mobilise the state aid modernisation strategy, in particular for the energy transition and to fix the infrastructural gaps between regions which affect negatively on competitiveness;
2020/01/10
Committee: ECON
Amendment 298 #

2019/2131(INI)

Motion for a resolution
Paragraph 22 a (new)
22 a. Calls on the Commission and other EU Institutions to introduce appropriate mechanisms to improve transparency in banking activity, such as full compulsory disclosure of confidential documents to the ECA and ECJ and complete access for the Members of the European Parliament to all operations and data managed by the ECB, the SRB and the EIB;
2020/01/10
Committee: ECON
Amendment 36 #

2019/2126(INI)

Motion for a resolution
Paragraph 2
2. Reiterates the need to reduce the inequalities in the geographical distribution of EIB financing, given that 57% went to six Member States in 2018Takes note of the geographical distribution of EIB financing; calls for a fair and transparent geographical distribution of projects and investment, with a special focus on less-developed regions;
2020/01/29
Committee: BUDG
Amendment 181 #

2019/2126(INI)

Motion for a resolution
Paragraph 27 a (new)
27 a. Regrets the fact that in 2018 EIB loans to Turkey, a country that does not respect several of the basic principles of freedom and democracy, reached EUR 385.8 million and notes with concern that more than EUR 28.9 billion has been lent to Turkey since 2000;
2020/01/29
Committee: BUDG
Amendment 197 #

2019/2126(INI)

Motion for a resolution
Paragraph 30 a (new)
30 a. Notes with concern the continued increase in general administrative expenses, primarily driven by the increase in staff-related costs; asks the EIB to maintain cost discipline and to keep its management structure lean and efficient;
2020/01/29
Committee: BUDG
Amendment 2 #

2019/2036(BUD)

Motion for a resolution
Recital A a (new)
Aa. whereas the European Union and the political decisions underpinning the development of the EU internal market are primarily to blame for the poverty and inequality affecting the Member States, having made it possible for large multinationals to exploit the differences in labour costs and tax rates between Member States, by means of plant relocations at the expense of citizens, workers and territories;
2019/07/25
Committee: BUDG
Amendment 4 #

2019/2036(BUD)

Motion for a resolution
Paragraph 8 a (new)
8a. Underlines the importance for a Member State to act also by imposing protectionist measures, to safeguard its own economy and its own workers and emphasises that every Member State must be able to take the measures needed to encourage firms which have relocated to return, including in the form of large- scale national public investment plans;
2019/07/25
Committee: BUDG
Amendment 6 #

2019/2036(BUD)

Motion for a resolution
Paragraph 9 a (new)
9a. Emphasises the importance of penalising firms which, after pocketing national or EU financial aid intended to boost economic growth in a given territory, take the unwarranted decision to move their production abroad; calls, therefore, for firms which act in this way to be required to pay back the aid received and be excluded from future financial support schemes;
2019/07/25
Committee: BUDG
Amendment 4 #

2019/2028(BUD)

Draft opinion
Paragraph 1
1. Calls for the 2020 budget to contribute to the fulfilment of the priorities outlinexpected inby the European Semestercitizens, namely to deliver high-quality investment and reforms that increase productivity growth,facilitate growth in lagging countinuing to ensure macro-financial stability and sound public finries, targeting to reduce asymmetric budget imbalances, and deepening the Single Market, as well as mong Member States; believes that the 2020 budget should be more efficient, transparent, performance- based, withe completion of the Economic and Monetary Union (EMU)ncrete reductions in administrative expenditures and waste of money;
2047/01/15
Committee: ECON
Amendment 4 #

2019/2028(BUD)

Motion for a resolution
Paragraph 1
1. RecallsTakes note that, in its resolution of 14 March 2019 on general guidelines for the preparation of the 2020 budget, Parliament defined clear political priorities for the budget 2020 to be a bridge to the future Europe and provide European added value; reaffirms its strong commitment to those priorities and sets out the following position to ensure an appropriate level of financing to deliver on them;
2019/10/08
Committee: BUDG
Amendment 5 #

2019/2028(BUD)

Motion for a resolution
Paragraph 1 a (new)
1 a. Stresses the fact that the Union budget is not delivering concrete answers to the political priorities which citizens are facing; highlights that Member States continue to face numerous challenges and is convinced that Union citizens expect the Union budget 2020 to be more efficient, transparent, performance-based providing concrete reductions of administrative expenditure and granting an efficient and accountable use of taxpayers’ money; underlines also the need to properly evaluate which funds could be better managed at national level in order to ensure full respect for the principle of subsidiarity;
2019/10/08
Committee: BUDG
Amendment 7 #

2019/2028(BUD)

Motion for a resolution
Paragraph 2
2. Reiterates Parliament’s view that the 2020 Union budget should pave the way to the 2021-2027 Multiannual Financial Framework (MFF) and provide a solid starting point for the launch of the new generation of EU programmes and policies; recalls, moreover, that 2020 is the last year of the current MFF and, therefore, the last chance for the Union to come closer to meeting the political commitments set for this period, including towards reaching the EU climate target and implementing the UN Sustainable Development Goals (SDGs); underlines that the budget 2020 should prepare the Union for an even more ambitious climate target in the 2021-2027 MFF;
2019/10/08
Committee: BUDG
Amendment 10 #

2019/2028(BUD)

Draft opinion
Paragraph 2
2. Considers that important efforts have been made up to now to increase sound scientific knowledge of marine biological resources. Although knowledge has improved, we are still far from optimum in order to provide for an appropriate assessment; considers that Union funds must therefore be increased for both international and Member States’ scientific research organisations to further improve the evaluation of stocks.
2019/08/28
Committee: PECH
Amendment 12 #

2019/2028(BUD)

Motion for a resolution
Paragraph 3
3. Takes note ofWelcomes the Council’s position on the DB, cutting EUR 1,51 billion in commitment appropriations compared to the Commission’s proposal; considers that the Council’s cuts flatly contradict the Union’s priorities, are not justified by absorption capacity and are meant to revert all the specific increases requested and obtained by Parliament in and calls for an effective spending review in order to preovious budgetary years; decides therefore, as a general rule, to restore appropriations on all lines cut by the Council to the level of the DB, for both operational and administrative expenditure, and to take the DB as the starting point to build its position upondes as much savings as possible on projects that, to date, have not shown a real added value;
2019/10/08
Committee: BUDG
Amendment 14 #

2019/2028(BUD)

3. Points out that more than half of the Union’s supply of fisheries products come from international waters and/or the exclusive economic zones of third countries; considers that adequate and reliable budgetary provisions must be calculated in the annual budget for 2020 in order to comply with the international fisheries agreement obligations and developing the Union's participation in regional fisheries management organisations.
2019/08/28
Committee: PECH
Amendment 17 #

2019/2028(BUD)

Draft opinion
Paragraph 2
2. Emphasises the importance of ensuring sufficient resources for the coordination and surveillance of macroeconomic policies as well transparent communication to EU citizens;deleted
2047/01/15
Committee: ECON
Amendment 25 #

2019/2028(BUD)

Draft opinion
Paragraph 5
5. Highlights that special importance should be granted in the 2020 budget to the financial resources designated to help the fleet to a smooth implementation of the landing obligation schemes.comply fully and more easily with landing obligation provisions, all of which are now in force;
2019/08/28
Committee: PECH
Amendment 29 #

2019/2028(BUD)

Draft opinion
Paragraph 6
6. Reiterates the importance of coastal andfunding for small artisanal fleet emphasises that sectors that represents nearly 75 % of all fishing vessels registered in the Union and employ nearly half of all employmentthose working in the fisheries sector; notes that operators from small- scale coastal fisheries are dependent on healthy fish stocks for their main source of income.calls for an increase in funding earmarked for these activities;
2019/08/28
Committee: PECH
Amendment 35 #

2019/2028(BUD)

Draft opinion
Paragraph 3
3. Calls for adequate resources for the European Supervisory Authorities (ESAs) in view of their new tasks; uUnderlines that the ESAs should continue to increase their efficiency without compromising on the quality of their work with a focus on continuous re- assessment of working methods and of effective use of human and financial resources; emphasises that the ESAs must stick to the tasks and to the mandate assigned to them by the European legislator;
2047/01/15
Committee: ECON
Amendment 37 #

2019/2028(BUD)

Draft opinion
Paragraph 7
7. Calls on the Commission and Member States to help communities that depend on fisheries to diversify their economies into other maritime activities such as tourism, and help them to add more value to their fishing activities. by providing the necessary incentives for example;
2019/08/28
Committee: PECH
Amendment 41 #

2019/2028(BUD)

Motion for a resolution
Paragraph 8
8. Endorses, as a general rule, the Commission's estimates of the budgetary needs of decentralised agencies; considers, therefore, that any cuts proposed by the Council would endanger the proper functioning of the agencies and would not allow them to fulfil their tasks; proposes targeAsks for a complete revision of the role of the European agencies questioning if their tasks and objectives could not be better accomplished by existing Directorates-General of the European Commission or by Member Stateds increases to the level of appropri order to prevent duplications of agencies which will be dealing with additional tasks or which are confronted with increased workloadroles and costs and also improving transparency due to emerging challenges;
2019/10/08
Committee: BUDG
Amendment 43 #

2019/2028(BUD)

Draft opinion
Paragraph 8
8. RemarksEmphasises strongly that the adoption of the currentnew multiannual plans and the implementation of new technical meas(MAP), accompanied by restrictions for the protection of fisheries resources to contribute to achieving fishing at sustainable levels requires a robust control policy supported by adequate funds.(e.g. reduction of fishing days, geographical and temporal limitations etc.), requires significant injections of funding to keep undertakings afloat and prevent job losses;
2019/08/28
Committee: PECH
Amendment 46 #

2019/2028(BUD)

Draft opinion
Paragraph 8 a (new)
8a. Recalls the vital importance of social and economic measures to accompany management decisions to curtail fishing activities, so as to maintain adequate levels of sustainability;
2019/08/28
Committee: PECH
Amendment 50 #

2019/2028(BUD)

Draft opinion
Paragraph 9
9. HighlightsPoints out that the European Fisheries Control Agency (EFCA) plays a fundamental role in coordinating and implementing the CFP; points out that this should be reflected in its budget. and that funding should accordingly be maintained at current levels;
2019/08/28
Committee: PECH
Amendment 56 #

2019/2028(BUD)

Draft opinion
Paragraph 10
10. Draws attention to the decision of the United Kingdom to leave the Union which will have a certain impact on the implementation of the 2014-2020 EMFF; points out that “Brexit” means that the utmost importance needs to be given to the establishment of a new financial budgetary framework for the period 2021- 2027; considers that a higher degree of additional flexibilityconsiders that greater flexibility of the Union budget, accompanied by adequate support measures to offset the adverse impact of Brexit ofn the Union budget ifisheries nsecessary to cope with the new situation.tor will accordingly be necessary;
2019/08/28
Committee: PECH
Amendment 59 #

2019/2028(BUD)

Draft opinion
Paragraph 11
11. HighlightNotes that, six years after the adoption of the current Fund, the level of implementation of the 2014-2020 EMFF is still very low and that Commission and Member States must speed upit is therefore necessary to simplify the marranagements and control processes and alleviate the administrative burdenss much as possible, while maintaining effective control over public expenditure to ensure appropriate and timely benefits to the sector. and implement the CFP more effectively;
2019/08/28
Committee: PECH
Amendment 60 #

2019/2028(BUD)

Motion for a resolution
Paragraph 12 a (new)
12 a. Stresses the importance of completing the construction of large infrastructure projects already underway, including cross-border projects such as the Turin-Lyon high-speed section and the Brenner base tunnel; reiterates in this regard the importance of completing the work on time without further delay;
2019/10/08
Committee: BUDG
Amendment 61 #

2019/2028(BUD)

Draft opinion
Paragraph 11 a (new)
11a. Draws attention to the need to step up funding for the Advisory Councils, given their greater commitment under Article 18 of Regulation (EU) No 1380/2013 to regionalisation policies, which are figuring more prominently in the multiannual management plans, as well as in the new regulation on 'technical measures';
2019/08/28
Committee: PECH
Amendment 62 #

2019/2028(BUD)

Draft opinion
Paragraph 11 b (new)
11b. Recalls the role played fishermen as 'guardians of the sea' and calls on the Commission to earmark adequate funding for measures to promote a combination of fishing and environmental conservation activities such as collecting plastics at sea, taking water samples or having researchers on board, thereby further reducing the impact on stocks;
2019/08/28
Committee: PECH
Amendment 65 #

2019/2028(BUD)

Motion for a resolution
Paragraph 13 a (new)
13 a. Expresses its concern for the increasing centralisation of competences and responsibilities of the agencies in the transport sector which could lead to increased costs for the EU budget; recalls that according to an opinion of the Court of Auditors the costs for the EU budget could be reduced by centralising the activities of the European Railway Agency (ERA) in a single location;
2019/10/08
Committee: BUDG
Amendment 68 #

2019/2028(BUD)

Motion for a resolution
Paragraph 13 b (new)
13 b. Reiterates its view that the European Commission should exclude the gross contributions of Member States to the EU budget -based on GNI - from the calculation of the structural deficit;
2019/10/08
Committee: BUDG
Amendment 75 #

2019/2028(BUD)

Motion for a resolution
Paragraph 15 a (new)
15 a. Stresses that social policy initiatives should come primarily from the Member States since they are best placed to meet citizens’ expectations, and recalls that the solutions to the problems of citizens cannot be found by imposing any additional EU constraints;
2019/10/08
Committee: BUDG
Amendment 78 #

2019/2028(BUD)

Motion for a resolution
Paragraph 15 b (new)
15 b. Stresses that public investments are the key factor to fight against youth and long-term unemployment; underlines that the creation of quality jobs could only be realised by leaving Member States to invest in their priorities and needs;
2019/10/08
Committee: BUDG
Amendment 81 #

2019/2028(BUD)

Motion for a resolution
Paragraph 16 a (new)
16 a. Emphasises the role of sport in promoting social inclusion and equal opportunities; welcomes the decision to hold the 2026 winter Olympic and Para- Olympic games in Europe, in Italy, and points out the importance that this event can be financially adequately supported by the European funds;
2019/10/08
Committee: BUDG
Amendment 90 #

2019/2028(BUD)

Motion for a resolution
Paragraph 22
22. Reinforces, against the background of an unrealistically low ceiling since the beginning of the current MFF, funding for Parliament’s priorities in the fields of internal security, migration and fundamental rights; strongly objects to Council’s cuts to the Asylum, Migration and Integration Fund (AMIF) and Internal Security Fund (ISF) and rejects the Council’s proposal to move EUR 400 million in commitment appropriations into a reserve awaiting a break-through on the reform of the Dublin III Regulation; underlines that it is of paramount importance to invest in adequate funding and staffing levels for all agencies operating in the fields of migration, security and border control, in particular Europol, Eurojust, EPPO and FrontexTakes note of the Council’s proposal to move EUR 400 million in commitment appropriations into a reserve awaiting a break-through on the reform of the Dublin III Regulation;
2019/10/08
Committee: BUDG
Amendment 96 #

2019/2028(BUD)

Motion for a resolution
Paragraph 22 a (new)
22 a. Underlines the failure of European policies on preventing migration flows and human trafficking; reiterates its concerns about the role played by instruments such as the Internal Security Fund (ISF) and the Asylum, Migration and IntegrationFund (AMIF) in the management of the effects of the migratory and refugee crisis;
2019/10/08
Committee: BUDG
Amendment 123 #

2019/2028(BUD)

Motion for a resolution
Paragraph 33 a (new)
33 a. Asks not to increase the commitment appropriations in the Budget of the European Union until a definitive solution on the stabilisation of the backlog of outstanding payment claims is defined;
2019/10/08
Committee: BUDG
Amendment 1 #

2019/2021(BUD)

Motion for a resolution
Paragraph 2
2. Notes that, according to the Commission, the competition fines in 2018 accounted for EUR 1 149 million; considers again that, besides any surplus resulting from under-implementation, the Union budget should be enabled to reuse any revenue resulting from fines or linked to late payments without a corresponding decrease in GNI contributions; recalls its position in favour of increasing the proposed Union reserve in the next Multiannual Financial Framework by an amount equivalent to the revenue resulting from fines and penalties;
2019/07/25
Committee: BUDG
Amendment 10 #

2019/0161(COD)

Proposal for a regulation
Recital 1 a (new)
(1a) Since it was established, the euro area has comprised countries with widely differing approaches to economic, fiscal and social matters, a state of affairs which has seriously undermined its effectiveness. These differences are forcing the Union to adopt legislative acts which encroach on the national sovereignty of its Member States, one example being this budgetary instrument for convergence and competitiveness.
2020/04/06
Committee: BUDG
Amendment 15 #

2019/0161(COD)

Proposal for a regulation
Recital 3
(3) At the Union level, the European Semester of economic policy coordination is the framework for the identification of national reform priorities of the Member States and for the monitoring of the implementation of those priorities. This Regulation addresses the need to establish coherence between the reform and investment priorities for the euro area as a whole and the reform and investment objectives of the individual Member States whose currency is the euro, and to ensure their consistency with the European Semester.deleted
2020/04/06
Committee: BUDG
Amendment 31 #

2019/0161(COD)

Proposal for a regulation
Recital 7
(7) The Council Recommendation providing country-specific guidance on the objectives of reforms and investment in Member States whose currency is the euro, adopted by qualified majority, should be based on a Commission recommendation. This process should be without prejudice to the voluntary nature of participation of Member States whose currency is the euro in the budgetary instrument for convergence and competitiveness, and without prejudice to the Commission’s prerogatives as regards its implementation.deleted
2020/04/06
Committee: BUDG
Amendment 61 #

2019/0161(COD)

Proposal for a regulation
Article 5 – paragraph 1
1. The Council shall, on a recommendation from the Commission, adopt a recommendation addressed to all Member States whose currency is the euro providing, on an annual basis, country- specific guidance on the reform and investment objectives for the purposes of the reform and investment packages, which Member States may subsequently submit under Regulation (EU) XXXX/XX [Reform Support Programme Regulation].deleted
2020/04/06
Committee: BUDG
Amendment 63 #

2019/0161(COD)

Proposal for a regulation
Article 5 – paragraph 2
2. The recommendation referred to in paragraph 1 shall be consistent with the strategic orientations referred to in Article 4 and with the country-specific recommendations for the Member State concerned. In the recommendation referred to in paragraph 1, the Council shall duly take into account any macroeconomic adjustment programme approved in accordance with Article 7(2) of Regulation (EU) No 472/2013.deleted
2020/04/06
Committee: BUDG
Amendment 43 #

2018/0135(CNS)

Proposal for a decision
Recital 2 a (new)
(2a) Consideration should be given to the advisability of a uniform rate of 0.30% for all Member States except Germany, the Netherlands and Sweden, which have a reduced call rate of 0.15%.
2020/07/20
Committee: BUDG
Amendment 47 #

2018/0135(CNS)

Proposal for a decision
Recital 3 a (new)
(3a) In the interests of fairness between the Member States, the Commission document also called for an end to rebates for certain countries that are now no longer justified.
2020/07/20
Committee: BUDG
Amendment 50 #

2018/0135(CNS)

Proposal for a decision
Recital 5 a (new)
(5a) This reform is necessary to align own resources more closely to the current VAT base and considerably simplify calculations, resulting in greater transparency and accountability.
2020/07/20
Committee: BUDG
Amendment 51 #

2018/0135(CNS)

Proposal for a decision
Recital 6
(6) In order to better align the Union's financing instruments with its policy priorities, to better reflect the Union's budget role for the functioning of the Single Market, to better support the objectives of Union policies and to reduce Member States' Gross National Income- based contributions to the Union's annual budget, it is necessary to introduce new categories of Own Resources based on the Common Consolidated Corporate Tax Base, the national revenue stemming from the European Union Emissions Trading System and a national contribution calculated on the basis of non-recycled plastic packaging waste. deleted Or. fr (NOTE: the text comes from COM(2018)0325)
2020/07/20
Committee: BUDG
Amendment 83 #

2018/0135(CNS)

Proposal for a decision
Recital 9 a (new)
(9a) This is a vulnerable mechanism, the Own Resource contribution being proportional to the quantity of non- recycled plastic packaging waste reported annually to Eurostat by each Member State.
2020/07/20
Committee: BUDG
Amendment 86 #

2018/0135(CNS)

Proposal for a decision
Recital 10
(10) It is necessary to avoid that Member States which benefit from corrections are confronted with a significant and sudden increase in their national contributions. It is therefore necessary to provide for temporary corrections in favour of Austria, Denmark, Germany, the Netherlands and Sweden by means of lump sum reductions to their Gross National Income-based contributions during a transitional period. Those corrections should be phased out by the end of 2025. deleted Or. fr (NOTE: the text comes from COM(2018)0325)
2020/07/20
Committee: BUDG
Amendment 94 #

2018/0135(CNS)

Proposal for a decision
Recital 11
(11) The retention, by way of collection costs, of 20 % of the amounts collected by the Member States for traditional Own Resources constitutes a high share of Own Resources not being made available to the Union Budget. The collection costs retained by Member States from the traditional Own Resources should be restored from 20 % to the originalkept at their current level of 120 % to better align financial support for customs equipment, staff and information with the actual costs and needs. . Or. fr (NOTE: the text comes from COM(2018)0325)
2020/07/20
Committee: BUDG
Amendment 127 #

2018/0135(CNS)

Proposal for a decision
Article 2 – paragraph 1 – subparagraph 4
Austria shall benefit from a gross reduction in its annual Gross National Income-based contribution of EUR 110 million in 2021, EUR 88 million in 2022, EUR 66 million in 2023, EUR 44 million in 2024, and EUR 22 million in 2025. Denmark shall benefit from a gross reduction in its annual Gross National Income-based contribution of EUR 118 million in 2021, EUR 94 million in 2022, EUR 71 million in 2023, EUR 47 million in 2024, and EUR 24 million in 2025. Germany shall benefit from a gross reduction in its annual Gross National Income-based contribution of EUR 2 799 million in 2021, EUR 2 239 million in 2022, EUR 1 679 million in 2023, EUR 1 119 million in 2024, and EUR 560 million in 2025. The Netherlands shall benefit from a gross reduction in its annual Gross National Income-based contribution of EUR 1 259 million in 2021, EUR 1 007 million in 2022, EUR 755 million in 2023, EUR 503 million in 2024, and EUR 252 million in 2025. Sweden shall benefit from a gross reduction in its annual Gross National Income-based contribution of EUR 578 million in 2021, EUR 462 million in 2022, EUR 347 million in 2023, EUR 231 million in 2024, and EUR 116 million in 2025. Those amounts shall be measured in 2018 prices and adjusted to current prices by applying the most recent Gross Domestic Product deflator for the Union expressed in euros, as provided by the Commission, which is available when the draft budget is drawn up. Those gross reductions shall be financed by all Member States. deleted Or. fr (NOTE: the text comes from COM(2018)0325)
2020/07/20
Committee: BUDG
Amendment 140 #

2018/0135(CNS)

Proposal for a decision
Article 2 – paragraph 2
2. Revenue deriving from any new charges introduced within the framework of a common policy, in accordance with the Treaty on the Functioning for the European Union, provided that the procedure laid down in Article 311 of that Treaty has been followed, shall also constitute Own Resources entered in the budget of the Union. deleted Or. fr (NOTE: the text comes from COM(2018)0325)
2020/07/20
Committee: BUDG
Amendment 146 #

2018/0135(CNS)

3. An orderly ratio between appropriations for commitments and appropriations for payments shall be strictly maintained to guarantee their compatibility and to enable the ceiling set in paragraph 1 to be complied with in subsequent years. Or. fr (NOTE: the text comes from COM(2018)0325)
2020/07/20
Committee: BUDG
Amendment 149 #

2018/0135(CNS)

Proposal for a decision
Article 5 – paragraph 1
Any surplus of the Union's revenue over total actual expenditure during a financial year shall be carried over to the following financial year. repaid to Member States that are net contributors. Or. fr (NOTE: the text comes from COM(2018)0325)
2020/07/20
Committee: BUDG
Amendment 150 #

2018/0135(CNS)

Proposal for a decision
Article 6 – paragraph 2
2. Member States shall retain, by way of collection costs, 120 % of the amounts referred to in Article 2(1)(a). Or. fr (NOTE: the text comes from COM(2018)0325)
2020/07/20
Committee: BUDG
Amendment 152 #

2018/0135(CNS)

Proposal for a decision
Article 8 – paragraph 3
3. Member States shall continue to retain, by way of collection costs, 1020 % of the amounts referred to in Article 2(1)(a) which should have been made available by the Member States before 28 February 2001 in accordance with the applicable Union rules. . Or. fr (NOTE: the text comes from COM(2018)0325)
2020/07/20
Committee: BUDG
Amendment 261 #

2018/0063A(COD)

Proposal for a directive
Article 1 – paragraph 1 – introductory part
This Directive relates to non-performing credit agreements and lays down a common framework and requirements for:
2020/01/07
Committee: ECON
Amendment 264 #

2018/0063A(COD)

Proposal for a directive
Article 1 – paragraph 1 – point a
(a) credit servicers acting on behalf of a credit institution or a credit purchaser in respect of a non-performing credit agreement issued by a credit institution or by its subsidiariesestablished in the Union;
2020/01/07
Committee: ECON
Amendment 266 #

2018/0063A(COD)

Proposal for a directive
Article 1 – paragraph 1 – point b
(b) credit purchasers of a non- performing credit agreement issued by a credit institution or by its subsidiariesestablished in the Union;
2020/01/07
Committee: ECON
Amendment 268 #

2018/0063A(COD)

Proposal for a directive
Article 1 – paragraph 1 – point c
(c) a supplementary common accelerated extrajudicial collateral enforcement mechanism in respect of secured credit agreements concluded between creditors and business borrowers which are secured by collateral.deleted
2020/01/07
Committee: ECON
Amendment 273 #

2018/0063A(COD)

Proposal for a directive
Article 1 – paragraph 1 a (new)
Creditors shall not be allowed to transfer to third parties performing credit agreements concluded with consumers.
2020/01/07
Committee: ECON
Amendment 278 #

2018/0063A(COD)

Proposal for a directive
Article 2 – paragraph 2 a (new)
2a. This Directive shall not apply to consumer non-performing credit agreements. Creditors shall not be allowed to transfer to third parties performing credit agreements concluded with consumers.
2020/01/07
Committee: ECON
Amendment 293 #

2018/0063A(COD)

Proposal for a directive
Article 3 – paragraph 1 – point 3
(3) 'borrower' means a legal or natural person, other than a consumer, who has concluded a credit agreement with a creditor;
2020/01/07
Committee: ECON
Amendment 363 #

2018/0063A(COD)

Proposal for a directive
Article 11 – paragraph 1
1. Member States shall ensure that a credit servicer having obtained an authorisation in accordance with Article 5 in a home Member State has the right to provide in the Union those services that are covered by that authorisation, without prejudice to national laws for borrowers’ rights.
2020/01/07
Committee: ECON
Amendment 371 #

2018/0063A(COD)

Proposal for a directive
Article 11 – paragraph 7 a (new)
7a. A credit servicer shall follow the host Member State rules for debt collection activities, regardless of where its headquarters are located in the EU.
2020/01/07
Committee: ECON
Amendment 398 #

2018/0063A(COD)

Proposal for a directive
Article 14 – paragraph 1
1. EBA shall develop draft implementing technical standardGuidelines that specify the formats tohat may be used by creditors who are credit institutions for the provision of information as set out in Article 13(1), in order to provide detailed information on their credit exposures in the banking book to credit purchasers for the screening, financial due diligence and valuation of the credit agreement or creditor’s rights. EBA shall specify in the draft Guidelines the required minimum data fields for non-performing credit agreements or creditor’s rights in order to meet the information requirements as set out in Article 13(1).
2020/01/07
Committee: ECON
Amendment 401 #

2018/0063A(COD)

Proposal for a directive
Article 14 – paragraph 2
2. EBA shall submit those draft implementing technical standards to the Commission by [31 December 2018].deleted
2020/01/07
Committee: ECON
Amendment 402 #

2018/0063A(COD)

Proposal for a directive
Article 14 – paragraph 3
3. Power is conferred on the Commission to adopt the implementing technical standards referred to in the paragraph 1, in accordance with Article 15 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council40 . _________________ 40Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12).deleted
2020/01/07
Committee: ECON