Activities of Pervenche BERÈS related to 2017/0230(COD)

Proposal for a regulation
Recital 11a b (new)

(11ab) Given the consequences for financial stability which may stem from abuses of the financial sector for money- laundering or terrorist financing purposes, and building on the experience already gained by EBA in protecting the banking sector from such abuses, EBA should take a leading role at Union level to protect the financial system from money-laundering and terrorist financing risks. Therefore, it is necessary to entrust EBA, in addition to its present competences, with the authority to act within the remit of Regulation (EU) No 1094/2010 and Regulation (EU) No 1095/2010 insofar as such authority relates to the prevention and combating of money-laundering and terrorist financing, where it concerns financial sector operators and the competent authorities supervising them, which are covered by those Regulations. Moreover, concentrating this mandate for the entire financial sector within EBA would optimise the use of its expertise and resources, and is without prejudice to the material obligations laid down in Directive (EU) 2015/849.

2018/10/30
Committee: ECON

Proposal for a regulation
Recital 11b

(11b) In order for EBA to exercise its mandate effectively it should make full use of all its powers and tools under the Regulation. In line with its new role, it is important that EBA collects all relevant information in relation to money- laundering and terrorist financing activities identified by the relevant Union and national authorities, without prejudice to the tasks assigned to authorities under Directive (EU) 2015/849. EBA should store such information in a centralised database and foster cooperation among authorities by ensuring appropriate dissemination of relevant information. Following requests from competent authorities in the exercise of their prudential supervisory functions, EBA should provide assistance. In addition EBA should carry out reviews of competent authorities, as well as risk assessment exercises relating to money- laundering and terrorist financing. EBA should assume a role in identifying supervisory and prudential practices and processes in Member States which harm the consistency and strength of the EU’s framework for prevention of money laundering and financing of terrorism. EBA should initiate proceedings to correct these weakness, and propose new regulatory technical standards, if necessary. Furthermore, EBA should also have a role cooperating and liaising with relevant third country authorities on these matters with a view to better coordinate action at Union level in material cases of anti-money laundering and terrorist financing having a cross-border and third country dimension.

2018/10/30
Committee: ECON

Proposal for a regulation
Recital 11c

(11c) In order to enhance the effectiveness of supervisory control of compliance in the area of money laundering and terrorist financing and to ensure greater coordination of the enforcement by national competent authorities of breaches of directly applicable Union law or its national transposing measures, EBA should have the power to carry out analysis of the information collected and, if necessary, pursue investigations on allegations brought to its attention concerning material breaches or non application of Union law, and, where there are indications of material breaches, to request competent authorities to investigate any possible breaches of the relevant rules, to consider taking decisions and imposing sanctions addressed to financial institutions requiring them to comply with their legal obligations. This power should only be used where EBA has indications of material breaches.

2018/10/30
Committee: ECON

Proposal for a regulation
Recital 15b

(15b) For carrying out its tasks and exercising its powers, EBA should be able to take individual decisions addressed to financial sector operators in the context of the procedure for breach of Union law and of the procedure of binding mediation even when the material rules are not directly applicable to financial sector operators, after having taken a decision addressed to the competent authority. Where the material rules are laid down in Directives, EBA should apply the national legislation transposing those Directives unless EBA, after consulting the Commission, takes the view that national legislation does not transpose those Directives adequately. Where the relevant Union law is composed of Regulations and where, on the date of entry into force of this Regulation, those Regulations expressly grant options to Member States, EBA should apply the national legislation exercising those options.

2018/10/30
Committee: ECON

Proposal for a regulation
Recital 15b a (new)

(15b a) With a view to enhance EBA’s role in ensuring the effectiveness of supervisory control of compliance in the area of money laundering and terrorist financing and in addressing breaches or non-application of Union law or its national transposing measures, channels for reporting breaches or non-application of Union law should be made available on the website of EBA. Natural persons should be able to report information on breaches anonymously and safely, in any of the 24 official EU languages. EBA should ensure staff members are dedicated to handling reports and giving feedback to the reporting person about the follow-up of the report within a reasonable timeframe not exceeding three months or six months in duly justified cases.

2018/10/30
Committee: ECON

Proposal for a regulation
Recital 15b b (new)

(15b b) Where, in the course of the fulfilment of its mandate, EBA is in possession of information which could give rise to criminal proceedings, EBA should be able to transmit the information to the national judicial authorities of the Member State concerned and, where applicable, to the European Public Prosecutor.

2018/10/30
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 6a

Regulation (EU) No 1093/2010
Article 9a – paragraph 1 – introductory part

1. The Authority shall take a leading role in promoting integrity, transparency and security in the financial system by means of adopting measures to insure tax good governance and prevent and combat money laundering and terrorist financing, including by:

2018/10/30
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 6a

Regulation (EU) No 1093/2010
Article 9a – paragraph 1 – point a

(a) collecting and analysing information from competent authorities and other sources relating to weaknesses identified in the processes and procedures, governance arrangements, fit and proper assessments, business models and activities of financial sector operators to prevent money-laundering and terrorist financing as well as measures taken by competent authorities. Competent authorities shall provide all such information to the Authority in addition to any obligations under Article 35. The Authority shall coordinate closely with Financial Intelligence Units and, where appropriate, exchange information;

2018/10/30
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 6a

(b) ~~developing common standards for combating money-laundering and terrorist financing in the financial sector and promoting their consistent implementa~~providing assistance, following specific requests from competent authorities in the exercise of prudential supervisory functions;

2018/10/30
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 6a

Regulation (EU) No 1093/2010
Article 9a – paragraph 2

2. The Authority shall establish and keep up to date a central database of information collected pursuant to point (a) in paragraph 1. The Authority shall ensure that information is analysed and made available to competent, authorities and Financial Intelligence Units on a need-to- know and confidential basis. The Authority shall provide assistance requested by competent authorities in the exercise of prudential supervisory functions. The Authority shall also transmit to the national judicial authorities of the Member State concerned and, where applicable, to the European Public Prosecutor, information in its possession which could give rise to criminal proceedings.

2018/10/30
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 6a

Regulation (EU) No 1093/2010
Article 9a – paragraph 3 – subparagraph 1

3. The Authority shall promote convergence of supervisory processes referred to in Directive (EU) 2015/849, and assess the extent to which competent authorities have the expertise, resources, operational capacity, powers and independence necessary to carry out the functions relating to prudential supervision, investigations and penalties, including by conducting periodic reviews, in accordance with Article 30.

2018/10/30
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 8 a (new)

Regulation (EU) No 1093/2010
Article 17 a (new)

(8a) The following Article 17a is inserted: ‘Article 17a 1. The Authority shall make available channels for reporting breaches or non-application of Union law on its website. Natural persons shall be able to report information anonymously and safely, in any of the 24 official EU languages. 2. The Authority shall ensure that feedback is sent to the reporting person about the follow-up of the report within a reasonable timeframe, not exceeding three months or six months in duly justified cases.’

2018/10/30
Committee: ECON

Pervenche BERÈS, Doru-Claudian FRUNZULICĂ

Proposal for a regulation
Recital 10

(10) Technological innovation hand social innovations hadve an increasing impact on the financial sector and competent authorities have therefore to take~~n various~~ initiatives to deal with those ~~technological~~ developments. In order to promote better supervisory convergence and to exchange best practices between relevant authorities on the one hand, and between relevant authorities and financial institutions or financial market participants on the other hand, the role of the ESAs with regard to their oversight function and supervisory coordination should be strengthened..

2018/09/11
Committee: ECON

Proposal for a regulation
Recital 32

(32) To ensure a high level of convergence ~~in the area of supervision and approval of internal model~~and to remedy potential inconsistencies, EIOPA should be able to iass~~ue opinions to remedy potential inconsistencie~~ess and, where necessary, review the decisions made by the competent authorities in the area of supervision and approval of internal models and assist competent authorities in reaching agreement related to the approval of internal models. ~~Competent authorities should take their~~In cases where EIOPA deems that a decisions in ~~conformity with these opinions, or alternatively explain why there are not~~the area of supervision and approval of internal models should be amended or withdrawn, competent authorities should conform~~ing~~ to the ~~opinion~~final provisions laid down by the Authority.

2018/09/11
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a

Regulation (EU) No 1093/2010
Article 1 – paragraph 2

The Authority shall act within the powers conferred by this Regulation and within the scope of Directive 2002/87/EC, Directive 2009/110/EC, Directive 2008/48/EC of the European Parliament and of the Council*, Regulation (EU) No 575/2013 of the European Parliament and of the Council, Directive 2013/36/EU of the European Parliament and of the Council, Directive 2014/49/EU of the European Parliament and of the Council**, Directive 2014/92/EU of the European Parliament and of the Council***, Regulation (EU) 2015/847**** of the European Parliament and the Council*****, Directive (EU) 2015/2366 of the European Parliament and of the Council******, Directive 2013/34/EU of the European Parliament and of the Council********* and, to the extent that those acts apply to credit and financial institutions and the competent authorities that supervise them, within the relevant parts of Directive 2002/65/EC and Directive (EU) 2015/849 of the European Parliament and of the Council*******, including all directives, regulations, and decisions based on those acts, and of any further legally binding Union act which confers tasks on the Authority. The Authority shall also act in accordance with Council Regulation (EU) No 1024/2013********. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a

Regulation (EU) No 1093/2010
Article 1 – paragraph 2 – footnote*********

********* Directive 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) (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a a (new)

Regulation (EU) 1093/2010
Article 1 – paragraph 3

(aa) Paragraph 3 is replaced by the following: "3. The Authority shall also act in the field of activities of credit institutions, financial conglomerates, investment firms, payment institutions and e-money institutions in relation to issues not directly covered in the acts referred to in paragraph 2, including matters of corporate governance, auditing and financial reporting, ~~provided that such actions by the Authority are necessary to ensure the effective and consistent application of those acts.~~ taking into account sustainable business models and the integration of environmental, social and governance related factors, provided that such actions by the Authority are necessary to ensure the effective and consistent application of those acts. " (This amendment also applies throughout Articles 2 and 3.) Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02010R1093- 20160112&from=EN)

2018/09/14
Committee: ECON

Pervenche BERÈS, Jonás FERNÁNDEZ, Doru-Claudian FRUNZULICĂ

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a b (new)

Regulation (EU) No 1093/2010
Article 1 – paragraph 5 – subparagraph 1 – first sentence

(ab) in paragraph 5, the first sentence of subparagraph 1 is replaced by the following: "The objective of the Authority shall be to protect the public interest by contributing to the short, medium and long-term, sustainability, stability and effectiveness of the financial system, for the Union economy, its citizens and businesses. ” (This amendment also applies throughout Articles 2 and 3.) Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a c (new)

Regulation (EU) 1093/2010
Article 1 – paragraph 5 – subparagraph 1 – point f

(~~f) enhancing customer protection.~~ ac) In paragraph 5, point (f) is replaced by the following: "(f) enhancing the protection of customers and other users of financial services." (This amendment also applies throughout Articles 2 and 3.) Or. en (https://eur-lex.europa.eu/legal- content/ET/TXT/PDF/?uri=CELEX:32010R1093&qid=1532334130461&from=EN)

2018/09/14
Committee: ECON

Pervenche BERÈS, Jonás FERNÁNDEZ, Paul TANG, Doru-Claudian FRUNZULICĂ

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a d (new)

Regulation (EU) 1093/2010
Article 1 – paragraph 5 – subparagraph 1 – point fa (new)

(ad) In paragraph 5, the following point (fa) is added: "(fa) ensuring supervisory convergence of conduct of business across the internal market."; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Pervenche BERÈS, Doru-Claudian FRUNZULICĂ

Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a e (new)

Regulation (EU) No 1093/2010
Article 1 – paragraph 5 – subparagraph 1 – point fb (new)

(ae) In paragraph 5, subparagraph 1, the following point (fb) is added: “(fb) contributing, in all areas of its work, to preventing the use of the financial system for money laundering or terrorist financing purposes." (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Pervenche BERÈS, Paul TANG

Proposal for a regulation
Article 1 – paragraph 1 – point 1 a (new)

Regulation (EU) 1093/2010
Article 2 – paragraph 1

(1a) In Article 2, paragraph 1 is replaced by the following: "1. The Authority shall form part of a European System of Financial Supervision (ESFS). The main objective of the ESFS shall be to ensure that the rules applicable to the financial sector are adequately implemented to preserve financial stability, to foster sustainability and to ensure confidence in the financial system as a whole and effective and sufficient protection for the c~~ustom~~onsumers and other users of financial services. " (This amendment also applies throughout Articles 2 and 3.) Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 1 b (new)

Regulation (EU) No 1093/2010
Article 2 – paragraph 3

(1b) in Article 2, paragraph 3 is replaced by the following: "3. The Authority shall cooperate regularly and closely with the ESRB as well as with the ~~European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority)~~other two ESAs through the Joint Committee, ensuring cross- sectoral consistency of work and reaching joint positions in the area of supervision of financial conglomerates and on other cross- sectoral issues~~. (https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02010R1093-~~, including sustainability. " (This amendment also applies throughout Articles 2 and 3.) Or. en 20160112&from=EN)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a – point i

Regulation (EU) 1093/2010
Article 8 – paragraph 1 – point aa

(aa) to develop and maintain an up to date Union supervisory handbook on the supervision of financial institutions in the Union;; which sets out supervisory best practices and high quality methodology and processes for supervision, taking into account, inter alia, the nature, scale and complexity of risks, changing business practices and models, and the size of financial institutions and markets;; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a – point ii

Regulation (EU) No 1093/2010
Article 8 – paragraph 1 – point ab

(ab) to develop and maintain an up to date a Union resolution handbook on the resolution of financial institutions in the Union which sets out supervisory best practices and high quality methodologies and processes for resolution, taking into account, inter alia, the nature, scale and complexity of risks, changing business practices and models, and the size of financial institutions and markets;

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a – point ii a (new)

Regulation (EU) No 1093/2010
Article 8 – paragraph 1 – point b

(iia) point (b) is replaced by the following: "(b) to contribute to the consistent application of legally binding Union acts, in particular by contributing to a common supervisory culture, ensuring consistent, efficient and effective application of the acts referred to in Article 1(2), preventing regulatory arbitrage, mediating and settling disagreements between competent authorities, ensuring effective and consistent supervision of financial institutions including related to tax good governance and anti-money laundering, ensuring a coherent functioning of colleges of supervisors and taking actions, inter alia, in emergency situations; " (This amendment also applies throughout Articles 2 and 3.) Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)

2018/09/14
Committee: ECON

Pervenche BERÈS, Jonás FERNÁNDEZ, Doru-Claudian FRUNZULICĂ

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a – point ii a (new)

(iia) point (d) is replaced by the following: "(d) to cooperate closely with the ESRB, in particular by providing the ESRB with the necessary information for the achievement of its tasks ~~and by ensuring a proper follow up to the warnings and recommendations of the ESRB; (https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02010R1093-~~, by sharing observations and best practices as regard environmental, social and governance risks and by ensuring a proper follow up to the warnings and recommendations of the ESRB; " (This amendment also applies throughout Articles 2 and 3.) Or. en 20160112&from=EN)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a – point iii

Regulation (EU) No 1093/2010
Article 8 – paragraph 1 – point e

(e) to organise and conduct reviews ~~of competent authorities and, in that context, to issue guidelines and recommendations and to identify best practic~~, with the support/contribution of national competent authorities, of competent authorities and, in that context, to issue recommendations addressed to those competent authorities and to identify best practices and, in that context, to issue guidelines, with a view to strengthening consistency in supervisory outcomes; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a – point iii

Regulation (EU) No 1093/2010
Article 8 – paragraph 1 – point f

(f) to monitor and assess market developments in the area of its competence including sustainability goals objectives and where relevant, developments relating to trends in credit, in particular, to households and SMEs and in innovative financial services;; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a – point iv

Regulation (EU) No 1093/2010
Article 8 – paragraph 1 – point (h)

(h) to foster depositor, consumer and investor protection;; , taking into account the full spectrum of risks that consumers and investors are exposed to;; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point b

Regulation (EU) No 1093/2010
Article 8 – paragraph 1a – point c

(c) take account of technological and social innovation, innovative and sustainable business models, and the integration of environmental, social and governance related factors; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 6 – point -a (new)

Regulation (EU) No 1093/2010
Article 9 – paragraph 1 – points aa and ab (new)

(-a) in paragraph 1, the following points (aa) and (ab) are inserted: "(aa) undertaking in-depth thematic reviews of market conduct, building a common understanding of markets practices in order to identify potential problems and analyse their impact; (ab) developing retail risk indicators for the timely identification of potential causes of consumer and investor harm;" (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 6 – point -a a (new)

Regulation (EU) No 1093/2010
Article 9 – paragraph 1 – point d

(~~d) contributing to the development of common disclosure rules. (https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02010R1093-~~-aa) In paragraph 1, point (d) is replaced by the following: "(d) developing common disclosure rules." (This amendment also applies throughout Articles 2 and 3.) Or. en 20160112&from=EN)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 6 – point -a b (new)

Regulation (EU) No 1093/2010
Article 9 – paragraph 1a

(-ab) The following paragraph 1a is inserted: "1a. The Authority shall take a leading role in promoting supervisory convergence of conduct of business, including by: (a) developing binding minimum standards addressed to national competent authorities and describing minimum means of enforcement; (b) coordinating, with national competent authorities, enforcement activities based on those standards, such as mystery shopping exercises; (c) making public the outcomes of coordinated activities.;" (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 6 – point b

Regulation (EU) No 1093/2010
Article 9 – paragraph 4

4. The Authority shall establish, as an integral part of the Authority, a Committee on financial innovation, which brings together all relevant competent authorities and authorities responsible for ~~consumer protection~~the protection of consumers and other users of financial services with a view to achieving a coordinated approach to the regulatory and supervisory treatment of new or innovative financial activities and providing ~~advice~~opinions for the Authority to present to the European Parliament, the Council and the Commission. The Authority may also include national data protection authorities as part of the Committee.; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 6 – point b a (new)

Regulation (EU) 1093/2010
Article 9 – paragraph 5 –subparagraph 1

~~5. The Authority may temporarily prohibit~~(ba) the first subparagraph of paragraph 5 is replaced by the following: "5. The Authority may temporarily prohibit marketing, distribution or sale of certain financial instruments or financial instruments with certain specified features or a type of financial activity or practice, or restrict certain financial activities that threaten the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Union in the cases specified and under the conditions laid down in the legislative acts referred to in Article 1(2) or for the protection of customers and of other users of financial services or tax good governance and anti- money laundering or, if so required, in the case of an emergency situation in accordance with and under the conditions laid down in Article 18. ~~(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)~~" (This amendment also applies throughout Articles 2 and 3.) Or. en

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 6 – point b b (new)

Regulation (EU) 1093/2010
Article 9 – paragraph 5 – subparagraphs 2, 3 and 4

(bb) subparagraphs 2, 3 and 4 of paragraph 5 are replaced by the following: "The Authority shall review the decision referred to in the first subparagraph at appropriate intervals and at least every 36 months. ~~If the decision is not renewed after a 3-mont~~The Authority may renew the prohibition or restriction once, after which period, it shall ~~automatically expir~~become permanent, unless the Authority considers otherwise. A Member State may request the Authority to reconsider its decision. In that case, the Authority shall decide, in accordance with the procedure set out in the second subparagraph of Article 44(1), whether it maintains its decision. ~~The Authority may~~" (This amendment also assppliess th~~e need to prohibit or restrict certain types of financial activity and, where there is such a need, inform the Commission in order to facilitate the adoption of any such prohibition or restriction.~~ roughout Articles 2 and 3.) Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 6 a (new)

Regulation (EU) No 1093/2010
Article 10 – paragraph 1

(6a) In Article 10, paragraph 1 is replaced by the following: “1. Where the European Parliament and the Council delegate power to the Commission to adopt regulatory technical standards by means of delegated acts pursuant to Article 290 TFEU in order to ensure consistent harmonisation in the areas specifically set out in the legislative acts referred to in Article 1(2), the Authority may develop draft regulatory technical standards. The Authority shall submit its draft regulatory standards to the Commission for endorsement. At the same time the Authority shall forward them for information to the European Parliament and the Council. Regulatory technical standards shall be technical, shall not imply strategic decisions or policy choices and their content shall be delimited by the legislative acts on which they are based. Before submitting them to the Commission, the Authority shall conduct open public consultations on draft regulatory technical standards and analyse the potential related costs and benefits~~, unless such consultations and analyses are disproportionate in relation to the scope and impac~~ in accordance with Article 8(2a). The Authority shall also request the advice of the Banking Stakeholder Group referred to in Article 37. Within 3 months of receipt of ~~the~~a draft regulatory technical standards concerned or in relation to the particular urgency of the matter. The Authority shall also request the opinion of the Banking Stakeholder Group referred to in Article 37. Where the Authority submits a draft, the Commission shall decide whether to endorse it. The Commission may endorse the draft regulatory technical standards in part only, or with amendments, where the Union’s interests so require. In the event that the Commission cannot reach a decision within three months whether to adopt the regulatory technical standard, it~~he Commission~~ shall immediately forward it to the European Parliament and the Council. Within 3 months of receipt of a draft regulatory technical standard, the Commission shall decide whether to endorse it. The Commission may endorse the draft regulatory technical standards in part only, or with amendments, where the Union’s interests so require, and in any event before the expiry of the three month period, inform the European Parliament and the Council thereof, indicating the reasons for not being in a position to reach a decision and the planned timeline for endorsement, taking due account of the implementation and application date of the applicable legislative act referred to in Article 1(2). Any delayed adoption of the draft regulatory standard shall not prevent the European Parliament and the Council from exercising their scrutiny powers in accordance with Article 13. Where the Commission intends not to endorse a draft regulatory technical standard or to endorse it in part or with amendments, it shall send the draft regulatory technical standard back to the Authority, explaining why it does not endorse it, or, as the case may be, explaining the reasons for its amendments, and shall send a copy of its letter to the European Parliament and the Council. Within a period of 6 weeks, the Authority may amend the draft regulatory technical standard on the basis of the Commission’s proposed amendments and resubmit it in the form of a formal opinion to the Commission. The Authority shall send a copy of its formal opinion to the European Parliament and to the Council. If, on the expiry of that six-week period, the Authority has not submitted an amended draft regulatory technical standard, or has submitted a draft regulatory technical standard that is not amended in a way consistent with the Commission’s proposed amendments, the Commission may adopt the regulatory technical standard with the amendments it considers relevant, or reject it. The Commission may not change the content of a draft regulatory technical standard prepared by the Authority without prior coordination with the Authority, as set out in this Article. ~~(https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02010R1093-~~” (This amendment also applies throughout Article 2 and Article 3.) Or. en 20160112&from=EN)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point a

Regulation (EU) 1093/2010
Article 16 – paragraph 1 – subparagraph 2

The Authority may also address guidelines and recommendations to all the authorities of Member States that are not defined as competent authorities under this Regulation but that are empowered to ensure the application of the acts referred to in Article 1(2).; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point a a (new)

Regulation (EU) 1093/2010
Article 16 – paragraph 1a (new)

(aa) The following paragraph 1a is inserted: “1a. The Authority may, with a view to establishing consistent, efficient and effective supervisory practices within the ESFS, issue guidelines addressed to all competent authorities or financial institutions for the purposes of the legislative acts referred to in Article 1(2), based on the comply or explain implementation procedure referred to in paragraph 3 of this Article. Those guidelines shall be considered suitable for compliance with the requirements of the legislative acts referred to in Article 1(2).”; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point b

Regulation (EU) 1093/2010
Article 16 – paragraph 2

2. The Authority shall, save in exceptional circumstances, conduct open public consultations regarding the guidelines and recommendations which it issues and shall analyse the related potential costs and benefits of issuing such guidelines and recommendations. Those consultations and analyses shall be proportionate in relation to the scope, nature and impact of the guidelines or recommendations. The Authority shall, save in exceptional circumstances, also request ~~opinions or advice from the Banking Stakeholder Group referred to in Article 37.;~~advice from the Banking Stakeholder Group referred to in Article 37. The Authority shall provide reasons when it does not conduct open public consultations or when it requests advice from the Banking Stakeholder Group.; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 7 a (new)

Regulation (EU) No 1093/2010
Article 16a (new)

(7a) The following Article 16a is inserted: “Article 16a Opinions 1. On all issues related to its area of competence and upon a request from the European Parliament, the Council or the Commission, or on its own initiative, the Authority shall provide opinions to the European Parliament, the Council and the Commission. Those opinions shall be made public unless so specified in the request. 2. The request referred to in paragraph 1 may include a public consultation or a technical analysis.” (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 7 b (new)

Regulation (EU) No 1093/2010
Article 16b (new)

(7b) The following Article 16b is inserted: “Article 16b Questions and answers 1. For the interpretation, practical application or implementation of the provisions of the legislative acts referred to in Article 1(2), or associated delegated and implementing acts, guidelines and recommendations adopted under those legislative acts, any natural or legal person, including competent authorities and Union institutions, may submit a question to the Authority in any official language of the Union. Before submitting a question to the Authority, financial institutions shall assess whether to first address the question to their competent authority. 2. The Authority shall publish on its website all admissible questions pursuant to paragraph 1, for each legislative act, after collecting and before answering them. 3. The Authority shall publish on its website non-binding answers to all admissible questions, unless such publication is in conflict with the legitimate interest of the natural or legal person that submitted the question or would involve risks to the stability of the financial system. 4. Answers by the Authority shall be considered suitable for compliance with the requirements of the legislative acts referred to in Article 1(2), and with associated delegated and implementing acts and guidelines and recommendations adopted pursuant to those legislative acts. Competent authorities and financial institutions may establish other practices for compliance with all applicable legal requirements.” (This amendment also applies throughout Articles 2 and 3.) Or. en (See amendment 44 of the EP draft report.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 8

Regulation (EU) No 1093/2010
Article 17 – paragraph 2 – subparagraph 3

Without prejudice to the powers laid down in Articles 35 and 35b, the Authority may address a duly justified and reasoned request for information directly to other competent authorities or relevant financial institutions, whenever ~~it is deemed~~requesting information from the competent authority concerned has proven or is deemed insufficient to obtain the information necessary for the purpose of investigating an alleged breach or non-application of Union law. Where it is addressed to financial institutions, the reasoned request shall explain why the information is necessary for the purposes of investigating an alleged breach or non- application of Union law. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Pervenche BERÈS, Jonás FERNÁNDEZ, Doru-Claudian FRUNZULICĂ

Proposal for a regulation
Article 1 – paragraph 1 – point 8 a (new)

Regulation (EU) No 1093/2010
Article 17 – paragraph 3 –subparagraph 1

(8a) In Article 17, the first subparagraph of paragraph 3 is replaced by the following: "3. The Authority may, not later than 26 months from initiating its investigation, address a recommendation to the competent authority concerned setting out the action necessary to comply with Union law. ~~(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)~~" (This amendment also applies throughout Articles 2 and 3.) Or. en

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 8 b (new)

Regulation (EU) No 1093/2010
Article 18 – paragraph 1 – subparagraph 1 a (new)

~~(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112~~(8b) In Article 18, in paragraph 1, subparagraph 1a is inserted: In case of adverse developments which may seriously jeopardise the protection of consumers and other users of financial services, competent authorities, including dispute resolution institutions, of the country where a product or service is marketed shall be competent to act, as a safeguard clause, to prevent and solve any detriment caused by financial institutions established in another Member State and providing services across border. These competent authorities shall immediately inform the Authority that will examine the situation within 6 months pursuant to Article 9(5). (This amendment also applies throughout Articles 2 and 3.) Or. en

2018/09/14
Committee: ECON

Pervenche BERÈS, Jonás FERNÁNDEZ, Doru-Claudian FRUNZULICĂ

Proposal for a regulation
Article 1 – paragraph 1 – point 8 c (new)

Regulation (EU) No 1093/2010
Article 18 – paragraph 3

(8c) In Article 18, paragraph 3 is replaced by the following: "3. Where the Council has adopted a decision pursuant to paragraph 2, and in exceptional circumstances where coordinated action by competent authorities is necessary to respond to adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or, the stability of the whole or part of the financial system in the Union or the protection of consumers and other users of financial services, the Authority may adopt individual decisions requiring competent authorities to take the necessary action in accordance with the legislation referred to in Article 1(2) to address any such developments by ensuring that financial institutions and competent authorities satisfy the requirements laid down in that legislation. " (This amendment also applies throughout Articles 2 and 3.) Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point a

Regulation (EU) No 1093/2010
Article 19 – paragraph 1 – subparagraph 1 – introductory part

In cases specified in the Union acts referred to in Article 1(2) as well as in all cases of disagreement between two or more national competent authorities concerning the application of those acts and without prejudice to the powers laid down in Article 17, the Authority may assist the competent authorities in reaching an agreement in accordance with the procedure set out in paragraphs 2 to 4 in either of the following circumstances: (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point e

Regulation (EU) No 1093/2010
Article 19 – paragraph 4

4. Without prejudice to the powers of the Commission pursuant to Article 258 ~~of the Treaty~~TFEU, where a competent authority does not comply with the decision of the Authority, and thereby fails to ensure that a financial institution complies with requirements directly applicable to it by virtue of the acts referred to in Article 1(2), the Authority ~~may~~shall adopt an individual decision addressed to a financial institution requiring the necessary action to comply with its obligations under Union law, including the cessation of any practice.; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Pervenche BERÈS, Paul TANG

Proposal for a regulation
Article 1 – paragraph 1 – point 9 a (new)

(9a) In Article 21, paragraph 1 is replaced by the following: "1. The Authority shall promote and monitor, within the scope of its powers, the efficient, effective and consistent functioning of the colleges of supervisors ~~referred to in Regulation (EU) No 575/2013 and Directive 2013/36/EU~~established in the legislative acts referred to in Article 1(2) and foster the consistency of the application of Union law among the colleges of supervisors. With the objective of converging supervisory best practices and anti-money laundering, the Authority shall promote joint supervisory plans and joint examinations, and staff from the Authority ~~may participate in~~shall be a full member of the colleges of supervisors and, as such, shall be able to participate in and, where appropriate, lead the activities of the colleges of supervisors, including on-site examinations, carried out jointly by two or more competent authorities." (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 10 a (new)

Regulation (EU) No 1093/2010
Article 23 – paragraph 1

(10a) In Article 23, paragraph 1 is replaced by the following: "1. The Authority shall, in consultation with the ESRB, develop criteria for the identification and measurement of systemic risk and an adequate stress-testing regime which includes an evaluation of the potential for systemic risk posed by or to financial institutions to increase in situations of stress, including climate related systemic risk by designing carbon stress test sand taking into account, notably, stranded assets and tax good governance and anti-money laundering based on global and EU standards. The financial institutions that may pose a systemic risk shall be subject to strengthened supervision, and where necessary, the recovery and resolution procedures referred to in Article 25. ~~(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)~~" (This amendment also applies throughout Articles 2 and 3.) Or. en

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 11 – point a – point i

Regulation (EU) 1093/2010
Article 29 – paragraph 1 – point aa

(aa) issuing the Union Strategic Supervisory Plan in accordance with Article 29a;; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 11 – point a – point iii a (new)

Regulation (EU) 1093/2010
Article 29 – paragraph 1 – points ea (new) and eb (new)

(iiia) The following points (ea) and (eb) are added: “(ea) providing guidance on how to appropriately use forward-looking climate scenario analysis for financial institutions, built on standardised climate scenarios, including a well below 2°C scenario that is consistent with the COP 21 Paris Agreement on climate change; (eb) putting in place a monitoring system to assess material environmental, social and governance related risks built on standardised forward-looking climate scenarios.” (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 11 – point b

Regulation (EU) 1093/2010
Article 29 – paragraph 2 – subparagraphs 3 and 3a (new)

(b) in paragraph 2, the following subparagraph iss are added: “For the purpose of establishing a common supervisory culture, the Authority shall develop and maintain an up-to-date Union supervisory handbook on the supervision of financial institutions infor the Union as a whole, taking into account the nature, scale and complexity of risks, changing business practices and business models, and the size of financial institutions and markets. The Authority shall also develop and maintain an up-to-date Union resolution handbook on the resolution of financial institutions in the Union, taking into account the nature, scale and complexity of risks, changing business practices and business models, and the size of financial institutions and markets. Both the Union supervisory handbook and the Union resolution handbook shall set out ~~supervisory~~ best practices and shall specify high quality methodologies and processes.” The Authority shall make use of the handbooks when carrying out its tasks, including assessment of potential breaches of Union law pursuant to Article 17, settling disputes pursuant to Article 19, assessing annual work programmes and implementation reports pursuant to Article 29a and carrying out reviews of competent authorities pursuant to Article 30.” (This amendment also applies, where applicable, throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 12

Regulation (EU) 1093/2010
Article 29a – paragraph 1 – subparagraph 1

~~Upon the entry into application of Regulation [XXX insert reference to amending Regul~~The Authority shall, at least every three years and by 31 March, following a debate in the Board of Supervisors and taking into account the ESRB analysis, warnings and recommendation]s a~~nd every three years thereafter by 31 March, the Authority shall~~s well as the contributions received from competent authorities, issue a recommendation addressed to those competent authorities, laying down Union-wide supervisory strategic objectives and priorities ("Union Strategic Supervisory Plan") ~~and,~~to be tak~~ing~~en into account ~~any contributions from competent auth~~in their national supervisory plans without prejudice to their specific national objectives and priorities,. The Authority shall transmit the Union Strategic Supervisory Plan for information to the European Parliament, the Council and the Commission and shall make it public on its website. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 12

Regulation (EU) No 1093/2010
Article 29a – paragraph 1 – subparagraph 2

The Union Strategic Supervisory Plan shall identify specific priorities for supervisory activities in order to promote consistent, efficient and effective supervisory practices and the common, uniform and consistent application of Union law and to address relevant micro-prudential trends, potential risks and vulnerabilities identified in accordance with Article 32. The Union Strategic Supervisory Plan shall identify priorities related to supervisory activities in the areas of sustainable finance, consumer protection and conduct of business. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 12

Regulation (EU) No 1093/2010
Article 29a – paragraph 2 – subparagraph 2

The draft annual work programme shall contain specific objectives and priorities for supervisory activities and quantitative and qualitative criteria for the selection of financial institutions, market practices and behaviours and financial markets to be examined by the competent authority submitting the draft annual work programme during the year covered by that programme.deleted (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 12

Regulation (EU) 1093/2010
Article 29a – paragraph 3 – subparagraph 1

The Authority shall assess the draft annual work programme and where there are material risks for not attaining the priorities set out in the Strategic Supervisory Plan, the Authority shall issue a recommendation to the relevant competent authority aiming at the alignment of the relevant competent authority's annual work programme with the Strategic Supervisory Plan. deleted (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 12

Regulation (EU) No 1093/2010
Article 29a – paragraph 3 – subparagraph 2

~~By 31 December of each year, the competent authorities shall adopt their annual work programmes taking into account any such recommendations.~~deleted (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 12

Regulation (EU) 1093/2010
Article 29a – paragraph 5 – subparagraph 1

The Authority shall assess the implementation reports of the competent authorities. Where there are material risks of not attaining the priorities set out in the Union Strategic Supervisory Plan the Authority shall issue a recommendation to each competent authority concerned on how the relevant shortcomings in its activities can be remedied. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 12

Regulation (EU) 1093/2010
Article 29a – paragraph 5 – subparagraph 2

Based on the reports and its own assessment of risks, the Authority shall identify the activities of the competent authority that are critical to fulfilling the Union Strategic Supervisory Plan and shall, as appropriate, conduct reviews under Article 30 of those activities. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 13 – point d – point ii a (new)

Regulation (EU) 1093/2010
Article 30 – paragraph 2 – point b

(b)iia) Point (b) is replaced by the following: "(b) the effectiveness and the degree of convergence reached in the application of Union law ~~and in supervisory practice~~, including regulatory technical standards and implementing technical standards, guidelines and recommendations adopted pursuant to Articles 10 to 16, and the extent to which the supervisory practice achieves the objectives set out in Union law~~; (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)~~, including common supervisory culture under Article 29 and the Union Strategic Supervisory Plan under Article 29a;" (This amendment also applies throughout Articles 2 and 3.) Or. en

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 13 – point f

Regulation (EU) No 1093/2010
Article 30 – paragraph 3a

3a. The Authority shall submit an opinion to the Commission where, having regard to the outcome of the review or to any other information acquired by the Authority in carrying out its tasks, it considers that further harmonisation of ~~the~~Union rules applicable to financial institutions or competent authorities would be necessary.; from the Union perspective or where it considers that a competent authority has not applied the legislative acts referred to in Article 1(2), or has applied them in a way that appears to breach Union law; (This amendment also applies throughout Article 2 and Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 13 a (new)

Regulation (EU) No 1093/2010
Article 31 – paragraph 1

(13a) In Article 31, paragraph 1 is replaced by the following: "The Authority shall fulfil a general coordination role between competent authorities, in particular in situations where adverse developments could potentially jeopardise the orderly functioning and integrity of financial markets or, the stability of the financial system in the Union~~. (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)~~ or the protection of consumers and other users of financial services." (This amendment also applies throughout Articles 2 and 3.) Or. en

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 13 b (new)

Regulation (EU) 1093/2010
Article 31 – paragraph 1a (new)

~~(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)~~(13b) In Article 31, a paragraph 1a is inserted: The Authority shall establish a transparency hub in which it makes available to the public information referred to in point (f) of the second paragraph. The Authority shall identify the types of information that is appropriate to publish in respect of different types of financial institution having regards to the need to protect commercial secrets and shall carry out public consultation on its proposals. Such publication shall not be subject to the obligation of professional secrecy specified in article 70. (This amendment also applies throughout Articles 2 and 3.) Or. en

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 13 e (new)

Regulation (EU) 1093/2010
Article 31 – paragraphs 1a (new), 1b (new) and 1c (new)

(13e) In Article 31, the following paragraphs are inserted after paragraph 1: “1a. The competent authorities shall notify both the Authority and the other competent authorities concerned where they intend to carry out an authorisation related to a financial institution which is under their supervision in accordance with the acts referred to in Article 1(2) where the business plan of financial institutions entails that material part of its activities will be done on the basis of freedom to provide services or freedom of establishment. The competent authorities shall also notify without delay the Authority where they identify any deteriorating financing condition or other emerging risk potentially affecting the protection of the users of financial services posed by the undertaking in the ongoing business, in particular when the business is conducted, for a significant part of its activity, on the basis of freedom to provide services or freedom of establishment by a financial institution under their supervision. These notifications to the Authority shall be sufficiently detailed to allow for a proper assessment by the Authority. 1b. In the cases mentioned in subparagraphs 1 and 2 of paragraph 1a, the Authority may set up and coordinate a collaborative platform as referred to in point (e) of paragraph 1 in order to foster the exchange of information and enhance collaboration among the competent authorities and, where relevant, to reach a common view on authorisation or on the action to be taken on the cases referred to in subparagraph 2 of paragraph 1a. Where the Authority ascertains, on the basis of the information referred to in point (f) of paragraph, that a financial institution carries out its activity mainly or entirely in another Member State, it shall inform the concerned authorities and set up, on its own initiative, a collaborative platform in order to facilitate the exchange of information between those authorities. Without prejudice to Article 35, the competent authorities shall provide, at the request of the Authority, all the necessary information to allow a proper functioning of the collaborative platform. 1c. In case the concerned competent authorities fail to reach a common view in the collaborative platform within a time limit established by the Authority, the Authority may issue a recommendation to the competent authority concerned, including recommendation to withdraw an authorisation or to review a decision. Where the competent authority concerned does not follow a recommendation of the Authority within 15 working days, the competent authority shall state the reasons including the steps it has taken or intends to take in order to address the concerns of the other competent authority involved. The Authority shall assess those steps and decide whether they are sufficient and appropriate within 15 working days. In case the Authority deems that they are not appropriate, it shall make public without delay its recommendation together with the above mentioned reasons and proposed steps.”; (This amendment also applies throughout Articles 2 and 3, with ‘users of financial services’ being replaced by ‘policyholders’ in Article 2.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 13 c (new)

Regulation (EU) 1093/2010
Article 31– paragraph 2 – point (e)

(e) taking all appropriate measures in case of developments which may jeopardise the functioning of the financial markets with a view to facilitating the coordination of actions undertaken by relevant competent authorities; 13c) In Article 31, point (e) of paragraph 2 is replaced by the following: "(e) taking all appropriate measures, including setting up and leading collaboration platforms, in case of developments which may jeopardise the functioning of the financial markets or potentially affect the protection of consumers and other users of financial services, in particular in situations of significant cross-border business, with a view to facilitating the coordination of actions undertaken by relevant competent authorities;" (This amendment also applies throughout Articles 2 and 3, with ‘users of financial services’ being replaced by ‘policyholders’ in Article 2.) Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 13 d (new)

(13d) In paragraph 2 of Article 31, the following point (ea) is added: “(ea) taking appropriate measures to facilitate the uptake of technological and social innovation with a view to the coordination of actions undertaken by relevant competent authorities;” (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 14

Regulation (EU) 1093/2010
Article 31 – paragraph 3

Regarding activity of competent authorities intended to facilitate entry into the market of operators or products relying on technological or social innovation, the Authority shall promote supervisory convergence, with the support, where relevant, of the committee on financial innovation, in particular through the exchange of information and best practices. Where appropriate, the Authority may adopt guidelines or recommendations in accordance with Article 16.; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) 1093/2010
Article 31a – paragraph 1

1. The Authority shall on an ongoing basis coordinate supervisory actions of competent authorities with a view to promoting supervisory convergence in the fields of delegation and outsourcing of activities by financial institutions as well as in relation to risk transfers conducted by them into third countries, to benefit from the EU passport while essentially performing substantial activities or functions outside the Union, in accordance with paragraphs 2, 3, and 4 ~~and 5.~~. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) 1093/2010
Article 31a – paragraph 2

The competent authorities shall notify the Authority where they intend to carry out an authorisation or registration related to a financial institution which is under supervision of the competent authority concerned in accordance with the acts referred to in Article 1(2) and where the business plan of the financial institution entails the outsourcing or delegation of a material part of its activities or any of the key functions or the risk transfer of a material part of its activities into third countries, to benefit from the EU passport while essentially performing substantial activities or functions outside the Union. (Th~~e notification to the Authority shall be sufficiently detailed to allow for a proper assessment. by the Authority.~~is amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) 1093/2010
Article 31a – paragraph 2 – subparagraph 1 a (new)

The Authority shall monitor whether the competent authorities concerned verify that outsourcing, delegation or risk transfer arrangements referred to in the first subparagraph are concluded in accordance with Union law and do not prevent effective supervision by the competent authorities, tax good governance and anti-money laundering.; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) 1093/2010
Article 31a – paragraph 3 – subparagraph 1

AWhere the Union legislation referred to in Article 1(2) does not impose any specific requirement to the notification of outsourcing, delegation or risk transfer, a financial institution shall notify the competent authority of the outsourcing or delegation of a material part of its activities or any of its key functions, and the risk transfer of a material part of its activities, to another entity or its own branch established in a third country. The competent authority concerned shall inform the Authority of such notifications on a semi-annual basis. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) No 1093/2010
Article 31a – paragraph 4a (new)

4a. The notifications to the Authority referred to in paragraphs 2 and 3 shall be sufficient to allow for a proper assessment by the Authority.; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 15

Regulation (EU) 1093/2010
Article 31a – paragraph 4b (new)

4b. The Commission shall adopt a delegated act before […] outlining witch activities or functions are material, substantial or key for the purpose of paragraphs 2 and 3 and setting out which information is necessary for the assessment referred to in paragraph 4a. In doing so, the Commission shall take into account: (a) the continuity of activity, (b) the effective management capacity, (c) effective capacity to audit delegated and outsourced activities as well as risk transfers.; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Pervenche BERÈS, Paul TANG

Proposal for a regulation
Article 1 – paragraph 1 – point 15 a (new)

Regulation (EU) 1093/2010
Articles 31b (new) and 31c (new)

(15a) The following Articles 31b and 31c are inserted: “Article 31b Coordination function in relation to orders, transactions and activities with significant cross-border effects 1. Where the Authority has reasonable grounds to suspect that orders, transactions or any other activity with significant cross-border effects threaten the orderly functioning and integrity of financial markets or the financial stability in the Union, it shall recommend that competent authorities of the Member States concerned initiate an investigation and shall provide those competent authorities with the relevant information. 2. Where a competent authority has reasonable grounds to suspect that orders, transactions or any other activity with significant cross-border effects threaten the orderly functioning and integrity of financial markets or the financial stability in the Union, it shall promptly notify the Authority and provide the relevant information. The Authority may recommend the competent authorities of the Member States where the suspected activity has occurred to take action after transmitting the relevant information to those competent authorities. 3. To facilitate the exchange of information between the Authority and the competent authorities, the Authority shall establish and maintain data storage facility designed for that purpose. Article 31c Information exchange on fitness and propriety 1. The Authority shall, together with the two other ESAs, establish a system for the exchange of information relevant to the assessment of the fitness and propriety of holders of qualifying holdings, directors and key function holders of financial institutions by competent authorities in accordance with the acts referred to in Article 1(2) ("a fitness and propriety assessment"). 2. The system referred to in paragraph 1 shall operate on the following basis, to be further specified in instructions issued the Authority, together with the two other ESAs: (a) competent authorities carrying out a fitness and propriety assessment shall use the system in carrying out that assessment to request information relevant to that assessment from competent authorities and other relevant authorities in the Union; (b) Member States shall identify one competent authority("the coordinating authority") which shall be responsible for identifying whether it or another competent authority or other relevant authority in that Member State holds information which may be relevant to a fitness and propriety assessment; (c) the coordinating authority in each Member State shall use the system to indicate whether or not it or another competent authority or other relevant authority in that Member State holds information which may be relevant to a fitness and propriety assessment; (d) where a coordinating authority indicates that it or another competent authority or other relevant authority in that Member State holds information which may be relevant to a fitness and propriety assessment, the competent authority carrying out that assessment shall contact the coordinating authority in order to arrange, where appropriate, for the exchange of that information; (e) the exchange of information shall take place in accordance with the applicable requirements on professional secrecy and exchange of information set out in the acts referred to in Article 1(2) and in accordance with General Data Protection Regulation (GDPR) (EU) 2016/679. 3. For the purpose of paragraph 2 the European Central Bank shall act as a coordinating authority with respect to information it holds. 4.The relevant authorities referred to in paragraph 2 shall include at least... / The instructions referred to in paragraph 2 shall specify a minimum list of types of relevant authority for the purpose of that paragraph.” (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 16 – point -a (new)

Regulation (EU) 1093/2010
Article 32 – paragraph 1

(-a) paragraph 1 is replaced by the following: "1. The Authority shall monitor and assess market developments in the area of its competence and, where necessary, inform the ~~European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority)~~two other ESAs, the ESRB and the European Parliament, the Council and the Commission about the relevant micro- prudential trends, potential risks and vulnerabilities, also taking account sustainable and integrating environmental, social and governance related factors. The Authority shall include in its assessments an economic analysis of the markets in which financial institutions operate and an assessment of the impact of potential market developments on such institutions. ~~content/EN/TXT/PDF/?uri=CELEX:32010R1093&qid=1532334130461&from=EN)~~" (This amendment also applies throughout Articles 2 and 3.) Or. en (https://eur-lex.europa.eu/legal-

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 16 – point -a a (new)

Regulation (EU) No 1093/2010
Article 32 – paragraph 2 – point a a (new)

(-a a) in paragraph 2, the following point (aa) in inserted: “(aa) common methodologies for assessing the effect of environmental scenarios, including the evolution of stranded assets, on the financial position of a financial market participant;” (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 16 – point a

Regulation (EU) 1093/2010
Article 32 – paragraph 2a – subparagraph 1

At least annually, the Authority, in cooperation with the SSM, shall consider whether it is appropriate to carry out Union-wide assessments referred to in paragraph 2 and shall inform the European Parliament, the Council and the Commission of its reasoning. Where such Union-wide assessments are carried out ~~and the Author~~, the Authority shall disclose the results for each participating financial institution, where ity considers ~~it appropriate to do so, it shall disclose the results for each participating financial institution.~~ such disclosure to be appropriate having regard to the financial stability of the Union or of one or more of its Member States, market integrity or investor protection or the functioning of the internal market. The Authority shall publish the results of the base scenario only. Upon request, the results of any other scenario shall be made available to the European Parliament and to the Council. (This amendment also applies, without the words 'in cooperation with the SSM', throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Pervenche BERÈS, Doru-Claudian FRUNZULICĂ

Proposal for a regulation
Article 1 – paragraph 1 – point 17 – point -a (new)

Regulation (EU) No 1093/2010
Article 33 – title

(-a) The title is replaced by the following: International relations "International relations including equivalence" (This amendment also applies throughout Articles 2 and 3.) Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 17 – point -a a (new)

Regulation (EU) 1093/2010
Article 33 – paragraph 1

(-a a) paragraph 1 is replaced by the following: "1. Without prejudice to the respective competences of the Member States and the Union institutions, the Authority may develop contacts and enter into administrative arrangements with regulatory, supervisory and resolution authorities, international organisations and the administrations of third countries. Those arrangements shall not create legal obligations in respect of the Union and its Member States nor shall they prevent Member States and their competent authorities from concluding bilateral or multilateral arrangements with those third countries. ~~(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)~~By way of derogation from this paragraph, where a third country is included in the list of jurisdictions which are considered to have national anti- money laundering policies and policies countering the financing of terrorism regimes with strategic deficiencies that pose significant threats to the financial system of the Union, as referred to in a delegated act in force adopted by the Commission pursuant to Directive (EU) 2018/843 of the European Parliament and of the Council, the Authority shall not conclude administrative arrangements with regulatory, supervisory and resolution authorities of that third country. " (This amendment also applies throughout Articles 2 and 3.) Or. en

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 17 – point b – introductory part

Regulation (EU) 1093/2010
Article 33 – paragraphs 2a, 2b and 2c

(b) the following paragraphs 2a, 2b, 2c and 2cd are inserted:

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 17 – point b

Regulation (EU) 1093/2010
Article 33 – paragraph 2a – subparagraph 1

The Authority shall monitor regulatory ~~and~~, supervisory and, where applicable, resolution developments and enforcement practices and relevant market developments in third countries for which equivalence decisions have been adopted by the Commission pursuant to the acts referred to in Article 1(2) in order to verify whether the criteria, on the basis of which those decisions have been taken and any conditions set out therein, are still fulfilled. The Authority shall submit a confidential report on its findings to the ~~Commission on an annual basis.~~European Parliament, the Council, the Commission, and the two other ESAs every three years or more frequently where appropriate or where requested by the European Parliament, the Council or the Commission. The report shall focus in particular on implications for financial stability of the Union or of one of its Member States, market integrity, investor protection or the functioning of the internal market. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 17 – point b

Regulation (EU) 1093/2010
Article 33 – paragraph 2a – subparagraph 2 – introductory part

Without prejudice to specific requirements set out in the acts referred to in Article 1(2) and subject to the conditions set out in the second sentence of paragraph 1, the Authority shall cooperate with the relevant competent authorities, and where app~~ropriat~~licable, also with resolution authorities, of third countries whose lregalulatory and supervisory regimes have been recognised as equivalent. That cooperation shall be pursued on the basis of administrative arrangements concluded with the relevant authorities of those third countries. When negotiating such administrative arrangements, the Authority shall include provisions on the following: (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 17 – point b

Regulation (EU) No 1093/2010
Article 33 – paragraph 2a – subparagraph 2 – point b

(b) to the extent necessary for the follow -up of such decisions on equivalence ~~where relevant to the extent necessary for the follow-up of such decis~~, the procedures concerning the coordination of supervisory activities including on-site inspections con ~~equivalence, the procedures concerning the coordina~~ducted under the responsibility of the Authority, where appropriate, with the support and contribution of sup~~ervisory activities including, where necessary, on- site inspections.~~ to five representatives of different competent authorities on a voluntary and rotating basis, and by the competent authority of the third country. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 17 – point b

Regulation (EU) No 1093/2010
Article 33 – paragraph 2b – subparagraph 1

Where the Authority identifies developments in relation to the regulation, supervision or, where applicable, resolution, or the enforcement practices in the third countries referred to in paragraph 2a that may impact the financial stability of the Union or of one or more of its Member States, market integrity or investor protection or the functioning of the internal market, it shall inform the European Parliament, the Council and the Commission on a confidential basis and without delay. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 17 – point b

Regulation (EU) No 1093/2010
Article 33 – paragraph 2c –subparagraph 2

The Authority may, in cooperation with the competent authorities, develop model administrative arrangements, with a view to establishing consistent, efficient and effective supervisory practices within the Union and to strengthening international supervisory coordination. ~~In accordance with Article 16(3), t~~The competent authorities shall ~~make every effort to~~ follow such model arrangements. as closely as possible. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 17 – point b a (new)

Regulation (EU) No 1093/2010
Article 33 – paragraph 3a (new)

(b a) The following paragraph 3a is added: “3a. The Authority shall seek full membership of the Basel Committee on Banking Supervision and of the Financial Stability Board, and shall seek observer status on the International Accounting Standards Monitoring Board. Any position to be taken by the Authority in international fora shall first be discussed and approved by the Executive Board.;” (This amendment also applies throughout Articles 2 and 3, the ‘Basel Committee on Banking Supervision’ being replaced by ‘International Association of Insurance Supervisors, the International Organisation of Pensions Supervisors’ in Article 2 and ‘ International Organisation of Securities Commissions’ in Article 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 17 – point b b (new)

Regulation (EU) 1093/2010
Article 33 – paragraph 3b (new)

(b b) The following paragraph 3b is added: “3b. The Authority shall monitor regulatory, supervisory, and where applicable, resolution developments and enforcement practices and relevant market developments in third countries for which international agreements have been concluded.” (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 19 – point a

2. The Authority may also request information to be provided at recurring intervals and in specified formats or by way of comparable templates approved by the Authority. Such requests shall, where possible, be made using common reporting formats. and shall respect the principle of proportionality provided for in national and Union law, including in the legislative acts referred to in Article 1(2). (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 20 a (new)

Regulation (EU) 1093/2010
Article 36 – paragraph 4 – subparagraph 4

(20 a) In Article 36, subparagraph 4 of paragraph 4 is replaced by the following: "If the Authority does not act on a warning or a recommendation, it shall explain to the ESRB ~~and the Council~~ its reasons for not doing so. The ESRB shall inform the European Parliament thereof in accordance with Article 19(5) of Regulation (EU) No 1092/2010. , the Council and the Commission. " (This amendment also applies throughout Articles 2 and 3.) Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 21

Regulation (EU) 1093/2010
Article 36 – paragraph 5 – subparagraph 1 a (new)

Where the addressee intends not to follow the recommendation of the ESRB, it shall inform and discuss with the Board of Supervisors its reasons for not acting. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 22 – point -a (new)

Regulation (EU) No 1093/2010
Article 37 – paragraph 3

(-a) paragraph 3 is replaced by the following: "3. The members of the ~~Banking~~ Stakeholder Group shall be appointed by the ~~Board of Supervisors, following proposals from the relevant stakeholders~~Executive Board following an open selection procedure. In making its decision, the ~~Board of Supervisors~~Executive Board shall, to the extent possible, ensure an appropriate reflection of diversity of the sector, geographical and gender balance and representation of stakeholders across the Union. Members of the Stakeholder Group shall be selected according to their qualifications, skills, relevant knowledge and proven expertise. The Executive Board shall take its decision independently from any internal or external influence. The selection process should be fully transparent. " (This amendment also applies throughout Articles 2 and 3.) Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 22 – point a

Regulation (EU) 1093/2010
Article 37 – paragraph 4 – subparagraph 1

(a) iIn paragraph 4, ~~the last sentence of the first subparagraph is replaced by the following:~~subparagraph 1 is replaced by the following: "4. The Authority shall provide all necessary information subject to professional secrecy as set out in Article 70 and ensure adequate secretarial support for the Banking Stakeholder Group. Adequate compensation shall be provided to members of the Banking Stakeholder Group representing non-profit organisations, excluding industry representatives. This compensation shall take into account preparatory work undertaken by non-industry members of the Stakeholder Group and shall be proportionately equivalent to the Authority's external experts' compensation. The Banking Stakeholder Group may establish working groups on technical issues. Members of the Banking Stakeholder Group shall serve for a period of four years, following which a new selection procedure shall take place." (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 22 – point b

Regulation (EU) 1093/2010
Article 37 – paragraph 5 – subparagraph 1a

Where members of the ~~Banking~~ Stakeholder Group cannot ~~reach a common opinion or~~agree on advice, the members representing ~~one~~at least half of a group of stakeholders shall be permitted to issue a separate ~~opinion or separate advice.~~advice. (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 22 – point b a (new)

Regulation (EU) No 1093/2010
Article 37 – paragraph 7

(b a) paragraph 7 is replaced by the following: "7. The Authority shall make public the ~~opinions and~~ advice of the ~~Banking~~ Stakeholder Group ~~and the results of its consultations.~~ , the separate advice of its members, the way they have been taken into account and the results of its consultations.” (This amendment also applies throughout Articles 2 and 3.) Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 24 – point a – point i a (new)

Regulation (EU) 1093/2010
Article 40 – paragraph 1 – point a b (new)

(i a) The following point (ab) is inserted: “(ab) the head of the public administration in charge of negotiating and adopting the acts referred to in Article 1(2) for the purpose of acting within the scope of Articles 10 to 15;” (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 24 – point a – point i b (new)

Regulation (EU) No 1093/2010
Article 40 – paragraph 1 – point b

(i b) point (b) is replaced by the following: "(b) the head of the national public authority competent for the supervision of ~~credit~~financial institutions in each Member State~~, who shall meet in person at least twice a year;~~ for the purpose of acting within the scope of any competence except those laid down in Articles 10 to 15, who shall meet in person at least twice a year;" (This amendment also applies throughout Articles 2 and 3.) Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 24 – point a – point i c (new)

Regulation (EU) No 1093/2010
Article 40 – paragraph 1 – point (e)

(i c) point (e) is replaced by the following: "(e) one representative of the ESRB, who shall be non-voting; and who shall avoid any potential conflict of interests with regard to the conduct of monetary policy;" (This amendment also applies throughout Articles 2 and 3.) Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 24 – point a – point i d (new)

Regulation (EU) No 1093/2010
Article 40 – paragraph 1 – point f a (new)

(i d) The following point (f a) is inserted: ‘(fa) one representative of the SRB for the purpose of acting within the scope of Directive 2014/59/EU, who shall be non- voting.’;

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 24 – point a a (new)

Regulation (EU) No 1093/2010
Article 40 – paragraph 3

(a a) paragraph 3 is replaced by the following: "3. Each competent authority shall be responsible for nominating a high-level alternate from its authority, who may replace the member of the Board of Supervisors referred to in paragraphs 1(ab) and 1(b), where that person is prevented from attending. ~~(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)~~" (This amendment also applies throughout Articles 2 and 3.) Or. en

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 24 – point a b (new)

Regulation (EU) No 1093/2010
Article 40 – paragraph 4a

(a b) Paragraph 4a is replaced by the following: "4a. In discussions not relating to individual financial institutions, as provided in Article 44(4), the representative nominated by the Supervisory Board of the European Central Bank may be accompanied by a representative of the European Central Bank with expertise on cfinancial stability." (This amendmentr al ~~banking tasks.~~ so applies throughout Articles 2 and 3.) Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02010R1093-20160112)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 24 – point a c (new)

Regulation (EU) 1093/2010
Article 40 – paragraph 6a (new)

(a c) the following paragraph 6a isinserted: For the purpose of acting within the scope ‘of Articles 10 to 15, one representative of the European Parliament shall be an observer.’ (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 24 – point c

Regulation (EU) 1093/2010
Article 40 – paragraph 8

8. Where the national public authority referred to in paragraph 1(b) is not responsible for the enforcement of consumer protection rules, the member of the Board of Supervisors referred to in that point ~~may decide to~~shall invite a representative from the Member State’s consumer protection authority, who shall be non- voting. In the case where the responsibility for consumer protection is shared by several authorities in a Member State, those authorities shall agree on a common representative.; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 25

Regulation (EU) No 1093/2010
Article 41 – paragraph 1 and 1a ( new)

The Board of Supervisors may establish internal committees for specific tasks attributed to it. The Board of Supervisors may provide for the delegation of certain clearly defined tasks and decisions to internal committees, to the Executive Board or to the Chairperson.; The Board of supervisors shall establish a permanent internal committee composed of national competent authorities responsible for the enforcement of consumer protection rules.; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 27 – point a

Regulation (EU) No 1093/2010
Article 43 – paragraph 1

1. The Board of Supervisors shall give guidance to the work of the Authority. Save as otherwise provided in this Regulation the Board of Supervisors shall adopt ~~the opinions,~~ recommendations, guidelines, opinions and decisions of the Authority, and issue the advice referred to in Chapter II, based on a proposal from the Executive Board.; (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 27 – point c a (new)

Regulation (EU) 1093/2010
Article 43 – paragraph 4– subparagraph 2a (new)

(c a) in paragraph 4, the following subparagraph is added: ‘The Authority shall set out its priorities with regard to reviews identifying, where appropriate, competent authorities and activities subject to reviews in accordance with Article 30. If duly justified, the Authority may identify additional competent authorities of Member States to review that are not defined as competent authorities under this Regulation but that are empowered to ensure the application of the acts referred to in Article 1(2).’ (This amendment also applies throughout Articles 2 and 3.)

2018/09/14
Committee: ECON

Proposal for a regulation
Article 1 – paragraph 1 – point 27 – point d

(d) paragraph 5 is replaced by the following: ‘5. adopt, on the basis of a proposal by the Executive Board, the annual report on the activities of the Authority, including on the performance of the Chairperson’s duties, on the basis of the draft report referred to in Article 53(7) and shall transmit that report to the European Parliament, the Council, the Commission, the Cdeleted The Board of Supervisors shall (This amendment also applies throughourt ~~of Auditors and the European Economic and Social Committee by 15 June each year. The report shall be made public.’;~~Articles 2 and 3.)

2018/09/14
Committee: ECON