14 Amendments of Pervenche BERÈS related to 2016/0221(COD)
Amendment 86 #
Proposal for a regulation
Recital 5
Recital 5
(5) In order to keep a high level of investor protection, those managers should continue to be subject to the requirements of Directive 2011/61/EU while complying with certain provisions of Regulation (EU) No 345/2013 or Regulation (EU) No 346/2013, namely the provisions concerning eligible investments, targeted investors and information requirements. Eligible investors should continue to be subject to the rules laid out in Regulation (EU) No 345/2013 and Regulation (EU) No 346/2013.
Amendment 92 #
Proposal for a regulation
Recital 6
Recital 6
(6) In order to ensure that competent authorities know about every new use of the ‘"EuVECA’" and ‘"EuSEF’" labels, managers of collective investment undertakings authorised under Article 6 of Directive 2011/61/EU should register each qualifying venture capital fund or qualifying social entrepreneurship fund they intend to manage and market. This should ensure that those managers may maintain their business models by being able to manage collective investment undertakings established in other Member States while further widening the range of products they offer. Furthermore, in order to permit the automatic distribution of standardised information to all stakeholders and to deepen European capital markets' integration, managers of all alternative investment funds, including EuVECA and EuSEF, should be required in the upcoming review of AIFMD to use the global Legal Entity Identifier (LEI) as the unique identifier to identify themselves and the qualifying funds they intend to manage as well as the International Securities Identification Number (ISIN) for identifying the units or shares of such funds.
Amendment 106 #
Proposal for a regulation
Recital 9 a (new)
Recital 9 a (new)
(9a) Environmental-friendly investments are growing quickly in the EU but often lack a suitable regulatory approach. By providing specific rules on an environmental sub-label to EuVECA and EuSEF labels, the visibility of dedicated EuVECA or EuSEF funds would be improved. The power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the Commission in respect of specifying the rules on an environmental sub-label.
Amendment 110 #
Proposal for a regulation
Recital 10
Recital 10
(10) It is necessary to clarify that the prohibition for the host Member State to impose requirements or administrative procedures in relation to the marketing of qualifying venture capital funds and qualifying social entrepreneurship funds in its territory includes the prohibition to impose fees and other charges on the managers of those funds, since the host Member State does not have to fulfill any supervisory mission.
Amendment 114 #
Proposal for a regulation
Recital 10 a (new)
Recital 10 a (new)
(10a) The legal and supervisory frameworks should play a fundamental role in avoiding excessive risk-taking and instability in financial markets and facilitate cross-border operations in a deepened European capital market union; therefore, a strong EU-wide supervision including adequate macroprudential instruments is needed. In the view of the mid-term review 2017 of the CMU programme, supervisory convergence should be improved in the EU on the basis of banking sector´s experience with the SSM framework.
Amendment 122 #
Proposal for a regulation
Recital 11 a (new)
Recital 11 a (new)
(11a) Managers of EuVECA and EuSEF funds who are not authorised in accordance with Directive 2011/61/EU are allowed to market such funds throughout the Union but cannot benefit from a management company passport.
Amendment 136 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 a (new)
Article 1 – paragraph 1 – point 2 a (new)
Regulation (EU) No 345/2013
Article 5 a (new)
Article 5 a (new)
(2a) The following Article is inserted: "Article 5a The Commission shall be empowered to adopt delegated acts in accordance with Article 26 specifying the conditions by which qualifying venture capital funds can use the denomination 'EuVECA green fund'."
Amendment 141 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 b (new)
Article 1 – paragraph 1 – point 2 b (new)
Regulation (EU) No 345/2013
Article 10 – paragraph 2
Article 10 – paragraph 2
Amendment 149 #
Amendment 163 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3 a (new)
Article 1 – paragraph 1 – point 3 a (new)
Regulation (EU) No 345/2013
Article 14 – paragraph 1 – point e
Article 14 – paragraph 1 – point e
(3a) In Article 14(1) point (e) is deleted.
Amendment 215 #
Proposal for a regulation
Article 2 – paragraph 1 – point 2 a (new)
Article 2 – paragraph 1 – point 2 a (new)
Regulation (EU) No 346/2013
Article 5 a (new)
Article 5 a (new)
(2a) The following Article is inserted after Article 5: "Article 5a The Commission shall be empowered to adopt delegated acts in accordance with Article 26 specifying the conditions by which qualifying venture capital funds can use the denomination "EuSEF green fund"."
Amendment 222 #
Proposal for a regulation
Article 2 – paragraph 1 – point 2 b (new)
Article 2 – paragraph 1 – point 2 b (new)
Regulation (EU) No 346/2013
Article 11 – paragraphs 2a – 2c (new)
Article 11 – paragraphs 2a – 2c (new)
(2b) In Article 11, paragraph 2 is deleted and the following paragraphs are inserted: "2a. At all times, managers of qualifying social entrepreneurship funds shall ensure that they are able to justify the sufficiency of their own funds to maintain operational continuity and disclose their reasoning as to why those funds are sufficient as specified in Article 14." n initial capital of EUR 100 000 is required for both internally managed qualifying social entrepreneurship funds and external managers of qualifying social entrepreneurship funds. 2b. Managers of qualifying social entrepreneurship funds should never have own funds less than one fourth of the preceding year's fixed overheads of the same manager. 2c. In case the value of the qualifying social entrepreneurship funds managed by the manager of qualifying social entrepreneurship fund exceeds EUR 250 000 000, the manager shall provide, in addition, 0,02% of the amount by which the total value of the qualifying social entrepreneurship funds exceeds the EUR 250 000 000." Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/HTML/?uri=CELEX:32013R0346&from=EN)
Amendment 227 #
Proposal for a regulation
Article 2 – paragraph 1 – point 3
Article 2 – paragraph 1 – point 3
Regulation (EU) No 346/2013
Article 11 – paragraph 3
Article 11 – paragraph 3
Amendment 238 #
Proposal for a regulation
Article 2 – paragraph 1 – point 3 a (new)
Article 2 – paragraph 1 – point 3 a (new)
Regulation (EU) No 346/2013
Article 15 – paragraph 1 – point e
Article 15 – paragraph 1 – point e