Activities of Peter SKINNER related to 2010/0232(COD)
Plenary speeches (1)
Supplementary supervision of financial entities in a financial conglomerate (debate)
Amendments (12)
Amendment 85 #
Proposal for a directive
Recital 4
Recital 4
(4) The comprehensive and adequate monitoring of group risks in large, complex, internationally operating conglomerates, as well as the supervision of the group-wide capital policies of these groups, is only possible when competent authorities gather supervisory information and plan supervisory measures beyond the national scope of their mandate. It is therefore necessary that competent authorities coordinate supplementary supervision on international conglomerates among the competent authorities which are regarded as most relevant for the supplementary supervision of a conglomerate through the Joint Committee. The college of a financial conglomerate's relevant competent authorities should reflect the supplementary nature of this Directive, and as such it should add value to existing colleges for the banking subgroup and the insurance subgroup in the conglomerate, without replicating, duplicating or replacing them.
Amendment 86 #
Proposal for a directive
Recital 4 a (new)
Recital 4 a (new)
(4a) In order to ensure appropriate regulatory oversight, it is necessary that the legal and operational structure, including all legal entities, of banks, insurers and financial conglomerates with cross-border activities are monitored by the European Supervisory Authority (European Banking Authority), the European Supervisory Authority (European Insurance and Occupational Pensions Authority), and the Joint Committee, as appropriate, and that information is made available to the relevant competent authorities, the Commission and the European Systemic Risk Board (ESRB) and, where appropriate, made public.
Amendment 90 #
Proposal for a directive – amending act
Article 2 – point 1
Article 2 – point 1
Directive 2002/87/EC
Article 2 – point 17 – point a a (new)
Article 2 – point 17 – point a a (new)
(aa) the European Supervisory Authority (European Banking Authority) or the European Supervisory Authority (European Insurance and Occupational Pensions Authority), to be agreed on the basis of the relative weighting of banking or insurance assets within the financial conglomerate, acting through the Joint Committee;
Amendment 98 #
Proposal for a directive – amending act
Article 2 – point 2 – point a
Article 2 – point 2 – point a
Directive 2002/87/EC
Article 3 – paragraph 2 – subparagraph 3 a (new)
Article 3 – paragraph 2 – subparagraph 3 a (new)
Alternative investment fund managers within the meaning of Article 30a are added to the sector they belong to within the group; if they do not belong exclusively to one sector within the group, they are added to the smallest financial sector.
Amendment 120 #
Proposal for a directive – amending act
Article 2 – point 6 a (new)
Article 2 – point 6 a (new)
Directive 2002/87/EC
Article 9 a a (new)
Article 9 a a (new)
Amendment 121 #
Proposal for a directive – amending act
Article 2 – point 7
Article 2 – point 7
Directive 2002/87/EC
Article 11 – paragraph 4 – subparagraph 1
Article 11 – paragraph 4 – subparagraph 1
The coordinator shall establish a college of the relevant competent authorities to facilitate the required cooperation under this section through the relevant sectoral college of supervisors and the exercise of the tasks listed in paragraphs 1, 2 and 3 and Article 12 and, subject to the confidentiality requirements and compatibility with Union legislation, ensure appropriate coordination and cooperation with relevant third-country competent authorities where appropriate.
Amendment 122 #
Proposal for a directive – amending act
Article 2 – point 7
Article 2 – point 7
Directive 2002/87/EC
Article 11 – paragraph 4 – subparagraph 2
Article 11 – paragraph 4 – subparagraph 2
Amendment 130 #
Proposal for a directive – amending act
Article 2 – point 11 a (new)
Article 2 – point 11 a (new)
Directive 2002/87/EC
Article 30 a (new)
Article 30 a (new)
(11a) The following Article is inserted: "Article 30a Alternative investment fund managers Pending further coordination of sectoral rules, where an alternative investment fund manager is part of a financial conglomerate, the financial conglomerate shall ensure that no more than 3 % of tier one capital at consolidated level or at the level of the mixed financial holding company is exposed to losses resulting from exposure to the activities of that alternative investment fund manager."
Amendment 131 #
Proposal for a directive – amending act
Article 3 – point 1 a (new)
Article 3 – point 1 a (new)
Directive 2006/48/EC
Article 4 – point 49 a (new)
Article 4 – point 49 a (new)
(1a) In Article 4, the following point is added: "(49a) ’alternative investment fund manager’ means a manager of alternative investment funds within the meaning of Article 4(1)(c) of Directive 2011/.../EU of the European Parliament and of the Council;"
Amendment 132 #
Proposal for a directive – amending act
Article 3 – point 1 b (new)
Article 3 – point 1 b (new)
Directive 2006/48/EC
Article 14
Article 14
Amendment 134 #
Proposal for a directive – amending act
Article 3 – point 5 a (new)
Article 3 – point 5 a (new)
Directive 2006/48/EC
Article 123 a (new)
Article 123 a (new)
(5a) The following article is inserted: "Article 123a Pending further coordination of sectoral rules, where an alternative investment fund manager is part of a credit institution, the credit institution shall ensure that no more than 3 % of tier one capital is exposed to losses resulting from exposure to the activities of that alternative investment fund manager."
Amendment 135 #
Proposal for a directive – amending act
Article 3 a (new)
Article 3 a (new)
Directive 2009/138/EC
Article 25 a (new)
Article 25 a (new)
Article 3a Amendments to Directive 2009/138/EC Directive 2009/138/EC is amended as follows: The following article is inserted: "Article 25a Every authorisation shall be notified to the European Supervisory Authority (European Insurance and Occupational Pensions Authority). The name of each insurance undertaking and reinsurance undertaking to which authorisation has been granted shall be entered on a database, as shall the legal and operational structure of that undertaking, including all legal entities established by that undertaking. The European Supervisory Authority (European Insurance and Occupational Pensions Authority) shall publish that list on its website and shall keep it up to date."