3 Amendments of Linea SØGAARD-LIDELL related to 2020/0152(COD)
Amendment 16 #
Proposal for a regulation
Recital 1
Recital 1
(1) The COVID-19 pandemic is severely affecting people, companies, health systems and the economies of Member States. The Commission, in its Communication to the European Parliament, the European Council, the Council, the European economic and social committee and the Committee of the regions of 27 May 2020 entitled ‘Europe's moment: Repair and Prepare for the Next Generation’8 stressed that liquidity and access to finance will be a continued challenge in the months to come. It is therefore crucial to support the recovery from the severe economic shock caused by the COVID-19 pandemic by introducing targeted amendments to existing pieces of financial legislation. The overall aim of the amendments should therefore be the removal of unnecessary red tape and make temporary exceptions that are deemed effective in order to mitigate the economic turmoil. The amendments should avoid making changes that cause more burdens to the sector and leave complex legislative questions to be sorted in the planned review of MIFID II. This package of measures is adopted under the label “Capital Markets Recovery Package”. _________________ 8 COM/2020/456 final of 27.5.2020.
Amendment 62 #
Proposal for a regulation
Recital 21 a (new)
Recital 21 a (new)
(21a) The aim of the amendments should be to make temporary exceptions and remove clear red tape in order to mitigate the economic crisis; the amendments should therefore avoid opening up more complex issues of the legislation which could risk causing more burdens for the sector. Larger changes to the legislation should first be re-evaluated in the planned review of MiFID II.
Amendment 105 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point c Directive 2014/65/EU
Article 1 – paragraph 1 – point 4 – point c Directive 2014/65/EU
Investment firms shall inform existing retail clients that used to receive the information required by this Directive on paper about the fact that they will receive that information in electronic form at least eight weeks before sending that information in electronic form. Investment firms shall inform the existing retail clients that they have the choice to either continue receiving information on paper or to switch to information in electronic format. Investment firms shall also inform existing retail clients that an automatic switch to the electronic format will follow where they do not request the continuation of the provision of the information on paper within that eight weeks period.; Existing clients who already receive the information in an electronic format do need to be informed.