Activities of Michiel HOOGEVEEN
Plenary speeches (116)
The EU-UK Trade and Cooperation Agreement - The outcome of EU-UK negotiations (debate)
Data Protection Commissioner v Facebook Ireland Limited, Maximillian Schrems ("Schrems II") - Case C-311/18 - The adequate protection of personal data by the United Kingdom (continuation of debate)
EU Digital COVID Certificate - Union citizens – EU Digital COVID Certificate - third-country nationals (debate)
State of play of the implementation of the own resources roadmap (continuation of debate)
The future of EU-Swiss relations (continuation of debate)
Foreign interference in democratic processes (debate)
Review of the macroeconomic legislative framework (debate)
Implementation of EU requirements for exchange of tax information (debate)
The future of EU-US relations (debate)
Banking Union - annual report 2020 (debate)
Global Tax Agreements to be endorsed at the G20 Summit in Rome, 30th/31st of October (continuation of debate)
The proposal to build a ‘single market for philanthropy’ (debate)
One-minute speeches on matters of political importance
The outcome of the EU-US Trade and Technology Council (TTC) (debate)
One-minute speeches on matters of political importance
Multilateral negotiations in view of the 12th WTO Ministerial Conference in Geneva, 30 November to 3 December 2021 (debate)
Equality between women and men in the European Union in 2018-2020 (debate)
One-minute speeches on matters of political importance
Implementation of the Kimberley Process Certification scheme (debate)
Situation in Kazakhstan
European Central Bank – annual report 2021 (continuation of debate)
One-minute speeches on matters of political importance
The death penalty in Iran
One-minute speeches on matters of political importance
European Semester for economic policy coordination: annual sustainable growth survey 2022 – European Semester for economic policy coordination: employment and social aspects in the annual sustainable growth strategy survey 2022 (debate)
Fair and simple taxation supporting the recovery strategy (continuation of debate)
Pilot regime for market infrastructures based on distributed ledger technology (debate)
One-minute speeches on matters of political importance
Urgent need to adopt the minimum tax directive (debate)
One-minute speeches on matters of political importance
Human rights situation in North Korea, including the persecution of religious minorities
Election of the Members of the European Parliament by direct universal suffrage (debate)
One-minute speeches on matters of political importance
The follow up of the Conference on the Future of Europe (debate)
The follow up of the Conference on the Future of Europe (debate)
Minimum level of taxation for multinational groups (debate)
One-minute speeches on matters of political importance
One-minute speeches on matters of political importance
The call for a Convention for the revision of the Treaties (debate)
Implementation of the Recovery and Resilience Facility (debate)
One-minute speeches on matters of political importance
One-minute speeches on matters of political importance
EU initiatives to address the rising cost of living, including the implementation of the European Pillar of Social Rights (debate)
One-minute speeches on matters of political importance
The Dutch childcare benefit scandal, institutional racism and algorithms (debate)
One-minute speeches on matters of political importance
Keep the bills down: social and economic consequences of the war in Ukraine and the introduction of a windfall tax (debate)
One-minute speeches on matters of political importance
Borrowing strategy to finance NextGenerationEU (debate)
One-minute speeches on matters of political importance
Gender balance among non-executive directors of companies listed on stock exchanges (debate)
Gender balance among non-executive directors of companies listed on stock exchanges (debate)
One-minute speeches on matters of political importance
Tackle the cost of living crisis: increase pay, tax profits, stop speculation (topical debate)
Defending the European Union against the abuse of national vetoes (debate)
Upscaling the 2021-2027 Multiannual Financial Framework (debate)
30th Anniversary of the Single Market (debate)
Rules to prevent the misuse of shell entities for tax purposes (debate)
One-minute speeches on matters of political importance
Conclusions of the European Council meeting of 15 December 2022 (continuation of debate)
One-minute speeches on matters of political importance
One-minute speeches on matters of political importance
Amendments to the European Long-Term Investment Funds (ELTIFs) Regulation (debate)
Amendments to the European Long-Term Investment Funds (ELTIFs) Regulation (debate)
European Central Bank - annual report 2022 (debate)
One-minute speeches on matters of political importance
Implementation report on the Agreement on the withdrawal of the UK from the EU - The Windsor Framework (debate)
Failure of the Silicon Valley Bank and the implications for financial stability in Europe (debate)
One-minute speeches on matters of political importance
Strengthening the application of the principle of equal pay for equal work or work of equal value between men and women (debate)
One-minute speeches on matters of political importance
Markets in Crypto-assets (MiCa) - Information accompanying transfers of funds and certain crypto-assets (recast) (debate)
Digital euro (debate)
Impact on the 2024 EU budget of increasing European Union Recovery Instrument borrowing costs - Own resources: a new start for EU finances, a new start for Europe (debate)
One-minute speeches on matters of political importance
Revision of the Stability and Growth Pact (debate)
One-minute speeches on matters of political importance
Make Europe the place to invest (debate)
One-minute speeches on matters of political importance
Tax the rich (topical debate)
Need to adopt the “Unshell” Directive on rules to prevent the misuse of shell entities for tax purposes (debate)
One-minute speeches on matters of political importance
Opening of negotiations of an agreement with the United States of America on strengthening international supply chains of critical minerals (debate)
Parliamentarism, European citizenship and democracy (debate)
Rising precariousness in Europe including the need for aid to the most deprived (debate)
Economic coercion by third countries (debate)
One-minute speeches on matters of political importance
European green bonds (debate)
Need to complete new trade agreements for sustainable growth, competitiveness and the EU’s strategic autonomy (debate)
One-minute speeches on matters of political importance
International Day for the Eradication of Poverty (debate)
General budget of the European Union for the financial year 2024 - all sections (debate)
The despicable terrorist attacks by Hamas against Israel, Israel’s right to defend itself in line with humanitarian and international law and the humanitarian situation in Gaza (debate)
EU enlargement policy 2023 (debate)
One-minute speeches on matters of political importance
Reducing regulatory burden to unleash entrepreneurship and competitiveness (topical debate)
The European Elections 2024 (debate)
EU-Taiwan trade and investment relations (debate)
Need to release all hostages, to achieve a humanitarian ceasefire and prospect of the two-state solution (debate)
EU strategy to assist young people facing the housing and cost of living crisis (topical debate)
One-minute speeches on matters of political importance
Quality jobs in a competitive future-oriented social market economy (topical debate)
Instant payments in euro (debate)
Instant payments in euro (debate)
One-minute speeches on matters of political importance
EU2040 climate target (debate)
European Central Bank – annual report 2023 (debate)
One-minute speeches on matters of political importance
European Digital Identity framework (debate)
One-minute speeches on matters of political importance
State of play of the corporate sustainability due diligence directive (debate)
State of play of the corporate sustainability due diligence directive (debate)
One-minute speeches on matters of political importance
Prohibiting products made with forced labour on the Union market (debate)
One-minute speeches on matters of political importance
Conclusions of the recent European Council meetings, in particular on a new European Competitiveness deal and the EU strategic agenda 2024-2029 (debate)
Reports (3)
REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) 2015/760 as regards the scope of eligible assets and investments, the portfolio composition and diversification requirements, the borrowing of cash and other fund rules and as regards requirements pertaining to the authorisation, investment policies and operating conditions of European long-term investment funds
REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) No 260/2012 and (EU) 2021/1230 as regards instant credit transfers in euro
REPORT on the proposal for a regulation of the European Parliament and of the Council on a framework for Financial Data Access and amending Regulations (EU) No 1093/2010, (EU) No 1094/2010, (EU) No 1095/2010 and (EU) 2022/2554
Shadow reports (8)
REPORT on equality between women and men in the European Union in 2018-2020
REPORT on the future of EU international investment policy
REPORT on intersectional discrimination in the European Union: the socio-economic situation of women of African, Middle-Eastern, Latin-American and Asian descent
REPORT on the proposal for a regulation of the European Parliament and of the Council on the protection of the Union and its Member States from economic coercion by third countries
RECOMMENDATION on the draft Council decision amending Decision (EU) 2015/2169 on the conclusion of the Free Trade Agreement between the European Union and its Member States, of the one part, and the Republic of Korea, of the other part
REPORT on the proposal for a Council directive laying down rules to prevent the misuse of shell entities for tax purposes and amending Directive 2011/16/EU
REPORT on the proposal for a regulation of the European Parliament and of the Council on prohibiting products made with forced labour on the Union market
REPORT on the proposal for a Council directive on laying down rules on a debt-equity bias reduction allowance and on limiting the deductibility of interest for corporate income tax purposes
Shadow opinions (12)
OPINION on the proposal for a directive of the European Parliament and of the Council amending Directive 2013/34/EU, Directive 2004/109/EC, Directive 2006/43/EC and Regulation (EU) No 537/2014, as regards corporate sustainability reporting
OPINION on the proposal for a regulation of the European Parliament and of the Council on foreign subsidies distorting the internal market
OPINION on the proposal for a regulation of the European Parliament and of the Council establishing a framework of measures for strengthening Europe's semiconductor ecosystem (Chips Act)
POSITION IN THE FORM OF AMENDMENTS on proposals of the European Parliament for the amendment of the Treaties
OPINION on proposals of the European Parliament for the amendment of the Treaties
OPINION on EU-Switzerland relations
OPINION on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) No 1227/2011 and (EU) 2019/942 to improve the Union’s protection against market manipulation in the wholesale energy market
OPINION on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) 2019/943 and (EU) 2019/942 as well as Directives (EU) 2018/2001 and (EU) 2019/944 to improve the Union’s electricity market design
OPINION on extending the list of EU crimes to hate speech and hate crime
OPINION on the proposal for a decision of the European Parliament and of the Council amending Directive 2013/34/EU as regards the time limits for the adoption of sustainability reporting standards for certain sectors and for certain third-country undertakings
OPINION on the proposal for a regulation of the European Parliament and of the Council establishing the Union Customs Code and the European Union Customs Authority, and repealing Regulation (EU) No 952/2013
OPINION containing a motion for a non-legislative resolution on the conclusion of the Partnership Agreement between the European Union, of the one part, and the members of the Organisation of African, Caribbean and Pacific (OACPS) States, of the other part
Institutional motions (2)
MOTION FOR A RESOLUTION on meeting the global COVID-19 challenge: effects of the waiver of the WTO TRIPS Agreement on COVID-19 vaccines, treatment, equipment and increasing production and manufacturing capacity in developing countries
MOTION FOR A RESOLUTION on the rule of law crisis in Poland and the primacy of EU law
Written explanations (3)
Sexual and reproductive health and rights in the EU, in the frame of women’s health (A9-0169/2021 - Predrag Fred Matić)
De Nederlandse wetgeving inzake abortus, seksuele opvoeding en alles wat te maken heeft met gezondheidszorg behoort toe aan de Nederlandse Staten-Generaal.JA21 stemt dan ook tegen deze resolutie. Deze zaken moeten beslist worden op nationaal niveau en JA21 is tegen EU-inmenging in zaken als abortus, seksuele opvoeding en uitbreiding van bevoegdheden op het gebied van gezondheidszorg.
The impact of intimate partner violence and custody rights on women and children (A9-0254/2021 - Elena Kountoura, Luisa Regimenti)
. – We vinden het doel van dit verslag nobel. JA21 ondersteunt de bescherming van alle slachtoffers van partnergeweld en de kinderen die moeten lijden in voogdijzaken. Hiertoe steunen wij de opvatting van de rapporteurs dat de richtlijn van Brussel IIa (over grensoverschrijdende informatie-uitwisseling) ook moet worden uitgebreid tot niet-gehuwde partners. Onze partij is tegen de uitbreiding van EU-bevoegdheden. In dit verslag zien we te veel gevallen waarin de EU probeert de wet aan zijn leden te dicteren. Er is te veel retoriek over het kwaad van het patriarchaat en een oneerlijk idee dat enkel vrouwen slachtoffers kunnen zijn. Ook is er een gevoel in het hele verslag dat de kinderen alleen veilig zijn bij de moeder, en dit is gewoon niet waar. Wij zijn ook tegen alle campagnes die buurtsurveillance aanmoedigen. Daarom hebben we tegen dit verslag gestemd.
Written questions (25)
Duarte Agostinho climate case pending before the European Court of Human Rights
Misuse of EU subsidies
Transparency and funding of the Conference on the Future of Europe
Follow-up on question E-001408/2021 regarding debt union and the moral hazard stemming from NextGenerationEU
EU funding of ‘gain of function’ research at Wuhan Institute of Virology
EU presence at the inauguration of the President of Iran
Payment for order flow practices
Follow‑up regarding transparency and funding of the Conference on the Future of Europe
PCR test machines and EVAg
Statements by Commission President Von der Leyen on support for and accession of Ukraine to the European Union
Costs related to the Conference on the Future of Europe
The role of Russian-funded environmental organisations in shaping the EU’s climate policy – follow-up question
Clarifying the report on the meeting between ministers from the Netherlands and Commissioner Virginijus Sinkevičius to discuss the nitrogen crisis in the Netherlands
Unwarranted withholding of documents relating to NextGenerationEU
Illegal trade in captagon
Clarifying the letter of 28 March 2023 from Commissioner Virginijus Sinkevičius to Ms van der Wal, Netherlands Minister for Nitrogen and Nature, and the influence of the Commission
Short-selling regulation
Facilitating private funding for nuclear fusion projects
Final costs related to the Conference on the Future of Europe
The Council’s contribution to the Conference on the Future of Europe
Explanation of Politico article 'A top EU official helps run a luxury hotel in Bali – and never had to tell Brussels', 12 June 2023
The Council’s contribution to the Conference on the Future of Europe (CoFE)
Disposal of products made with forced labour
Short Selling Regulation – follow-up question to Written Question E-001175/2023
Software licenses
Individual motions (1)
MOTION FOR A RESOLUTION on full transparency with regard to the expenditure of the Conference on the Future of Europe
Amendments (671)
Amendment 11 #
2023/2115(INI)
Motion for a resolution
Recital A
Recital A
A. whereas, since 2021, inflation has increased sharply, driven primarily by high energy and food costs, and exacerbated by the unjustified war of aggression against Ukraine and the slow response of the European Central Bank; whereas wages are not projected to increase as fast as inflation, thus creating a cost of living crisis; whereas this crisis acutely threatens women’s livelihoods, health, well-being and access to housing, while limiting their purchasing power and ability to provide food;
Amendment 35 #
2023/2115(INI)
Motion for a resolution
Recital C
Recital C
C. whereas wsomen in all their diversity women are disproportionately affected by the consequences of the cost of living crisis, as they tend to be among the poorest part of the population, are highly represented in precarious jobs, have lower incomes as a result of the pay and pension gaps, and are still expected to carry out the bulk of unpaid care work, leaving them with fewer resources to protect themselves against the negative impact of the crisis;
Amendment 43 #
2023/2115(INI)
Motion for a resolution
Recital D
Recital D
D. whereas climate change and climate-related disasters exacerbate the cost of living crisis and the risk of poverty; whereas the groups already living on the margins are being hit the hardest by the volatility of the fossil fuel energy system, while energy and food companies are making record profits;
Amendment 51 #
2023/2115(INI)
Motion for a resolution
Recital F
Recital F
F. whereas women, particularly single parents and those experiencing intersectional discrimination on grounds of ethnicity, race, migration status, sexual orientation, disability or age, are more likely to fall into energy poverty; whereas this means that the ongoing cost of living crisis will exacerbate gendered energy poverty in the EU;
Amendment 72 #
2023/2115(INI)
Motion for a resolution
Recital K
Recital K
Amendment 97 #
2023/2115(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Calls on the Commission to deliver on the commitment made by President von der Leyen to promote gender equality in all policymaking; calls for a European Green Deal and just and socially fair transition that works for all by developing a gender- transformative intersectional strategy to address energy poverty, and by increasing public investment in social, affordable and energy-efficient housingstrategy to address energy poverty;
Amendment 120 #
2023/2115(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Calls for the Member States and the EU to urgently guarantee affordable utilities and food for low-income households and, in particular, for those facing intersectional discrimination; stresses that no one should have to freeze in the height of winter or overheat in the scorching summer months and calls for the Member States and the EU to ban energy disconnections;
Amendment 141 #
2023/2115(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
Amendment 154 #
2023/2115(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Highlights that access to electricity plays a fundamental role in poverty reduction and in ensuring full and equal participation in society; calls for the EU and the Member States to recognise the right to energy;
Amendment 169 #
2023/2115(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Calls on the Commission and the Member States to ensure the inclusion of gender and intersectionaldifferent dimensions in all schemes for energy efficiency and renewable electricity, so as to support the citizens most affected by energy poverty;
Amendment 182 #
2023/2115(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Recalls that the green transition, with nuclear energy, is necessary to avoid severe future crises and increased poverty; recalls, furthermore, that the green transition will only be socially fair if it includes a gender perspective and guarantees equal opportunities for women and those experiencing intersectional discrimination; calls, therefore, on the Commission to appoint an EU gender and climate coordinator with sufficient staff and funding, and to introduce gender impact assessments in all EU policies and legislation, in particular in European Green Deal initiatives;
Amendment 204 #
2023/2115(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Deplores the fact that women are significantly under-represented in key policymaking positions on climate change and the environment, and calls for the EU and the Member States to ensure equal and diverse representation in decision-making positions across the EU institutions, government bodies and public authorities at all governance levels;
Amendment 221 #
2023/2115(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls on the Commission and the Council to commit to gender budgeting and to ensure that it is applied to the entire EU budget, and that the European Court of Auditor’s recommendations are fully implemented, including in the mid- term review of the current multiannual financial framework and the implementation of the Recovery and Resilience Facility;
Amendment 6 #
2023/2068(INI)
Draft opinion
Recital A
Recital A
A. whereas gender-based hate speech and hate crimes disproportionately affect women1 ; whereas young women and women in the public sphere are targeted by hate speech in particular; whereas women facing intersectional discrimination experience exacerbated hate speech and hate crimes; _________________ 1 Council of Europe Gender Equality Strategy, ‘Combating Sexist Hate Speech’, 2016.
Amendment 15 #
2023/2068(INI)
Draft opinion
Recital B
Recital B
B. whereas multiple factors, such as patriarchal societal structures, unequal power relations and gender stereotypingunequal power relations and the invention of social media, fuel hate speech and hate crimes against women;
Amendment 33 #
2023/2068(INI)
Draft opinion
Recital C
Recital C
C. whereas anti-gender movements are internationally connected anddifferent ideological groups spread rhetoric against anyone who does not fall under their norms of the heteronormative, patriarchal society;
Amendment 46 #
2023/2068(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Calls on the Council to conclude a Council decision including hate speech and hate crimes as an area of crime within the meaning of Article 83(1) of the Treaty on the Functioning of the European Union as soon as possible;
Amendment 51 #
2023/2068(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Calls on the Commission to include an explicit definition of gender-based hate speech and hate crimes when legislation is proposed and clarify why this kind of speech goes contrary to the principles of freedom of speech and expression;
Amendment 72 #
2023/2068(INI)
Draft opinion
Paragraph 4
Paragraph 4
Amendment 81 #
2023/2068(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Calls on the Commission to respect the national constitutions of the different Member States regarding liberal fundamental rights such as freedom of speech, expression and religion.
Amendment 11 #
2023/2042(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Underlines that safeguarding and deepening strong and sustainable trade relations with Switzerland, the EU’s fourth largest trading partner, remains a high priority;
Amendment 19 #
2023/2042(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Notes that without any modernisation of the FTA, which was concluded 50 years ago and has not been adjusted to reflect developments in international trade rules since, and of the package of bilateral agreements (I and II), which was concluded almost 20 years ago, EU-Swiss relations will inevitably erode over time; calls therefore upon the European Commission to propose a mandate for modernising the FTA once negotiations on the IFA have resumed;
Amendment 20 #
2023/2042(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Notes that without any modernisation of the FTA, which was concluded 50 years ago and has not been adjusted to reflect developments in international trade rules since, and of the package of bilateral agreements (I and II), which was concluded almost 20 years ago, EU-Swiss relations will inevitably erode over time; believes that the EU should strive for pragmatic solutions to solve this issue between EU and Switzerland;
Amendment 22 #
2023/2042(INI)
Draft opinion
Paragraph 4 – subparagraph 1 (new)
Paragraph 4 – subparagraph 1 (new)
Notes that investment protection is currently upheld through outdated bilateral agreements between Switzerland on the one hand and only nine EU Member States on the other; believes that a modern EU-Switzerland Investment Protection Agreement would increase legal certainty for investors on both sides and further strengthen bilateral trade relations; incites therefore the European Commission to propose a mandate for negotiating a modern EU-Switzerland Investment Protection Agreement;
Amendment 24 #
2023/2042(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Highlights that the Mutual Recognition Agreement (2002) is becoming more and more outdated as it cannot be updated to take into account new EU legislation; notes that this has already created technical barriers and hampered trade in medical devices and will do so in the future for mechanical engineering and artificial intelligence in particular; believes that the EU should strive for pragmatic solutions to solve this issue between EU and Switzerland;
Amendment 26 #
2023/2042(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Notes that business and industry associations are currently only consulted through informal information channels; calls upon the negotiators to agree on the establishment of a bilateral ex ante and ex post consultation platform between the EU and Switzerland designed to facilitate discussions and consultations in advance of any new measures or subsidies that could negatively affect trade or investment; takes the view that business and industry associations should be able to bring any new trade or investment irritants to the attention of the secretariat of this platform; believes that the platform should eventually be made an integral part of the governance framework of the modernised trade agreement and should entail the setting up of a SME Helpdesk, that would help to reduce trade costs and administrative burdens, while increasing SMEs’ participation in trade;
Amendment 35 #
2023/2042(INI)
Draft opinion
Paragraph 8 – subparagraph 1 (new)
Paragraph 8 – subparagraph 1 (new)
Amendment 120 #
2023/0212(COD)
Proposal for a regulation
–
–
The European Parliament rejects the proposal for a regulation of the European Parliament and of the Council on the establishment of the digital euro.
Amendment 120 #
2023/0212(COD)
Proposal for a regulation
–
–
The European Parliament rejects the proposal for a regulation of the European Parliament and of the Council on the establishment of the digital euro.
Amendment 122 #
2023/0212(COD)
Proposal for a regulation
Recital 1
Recital 1
(1) The Commission emphasised in the Digital Finance and Retail Payment Strategies20 of September 2020 that a digital euro, as a retail central bank digital currency, would act as a catalyst for innovation in payments, finance and commerce in the context of ongoing efforts to reduce the fragmentation of the Union retail payments market. The Eurosummit of March 2021 called for a stronger and more innovative digital finance sector and more efficient and resilient payment systems. The Eurogroup also acknowledged, in its statement of 25 February, the potential of a digital euro to foster innovation in the financial system. It is worth noting that the digital euro in its current design limits innovation. A CBDC built on blockchain technology would allow for more innovative developments from the fintech and entrepreneurial sectors. In that context, both the European Parliament21 and ECOFIN Council22 welcomed in February and March 2022 the European Central Bank’s decision to launch a two-year investigation phase of a digital euro project, starting from October 2021. __________________ 20 Communication from the Commission to the European Parliament, the Council and the Committee of the Regions on a Digital Finance Strategy for the EU (COM/2020/591 final) 21 European Parliament’s resolution of 16 February 2022 on the European Central Bank – annual report 20212021/2063(INI) 22 https://data.consilium.europa.eu/doc/docu ment/ST-6301-2022-INIT/en/pdf
Amendment 122 #
2023/0212(COD)
Proposal for a regulation
Recital 1
Recital 1
(1) The Commission emphasised in the Digital Finance and Retail Payment Strategies20 of September 2020 that a digital euro, as a retail central bank digital currency, would act as a catalyst for innovation in payments, finance and commerce in the context of ongoing efforts to reduce the fragmentation of the Union retail payments market. The Eurosummit of March 2021 called for a stronger and more innovative digital finance sector and more efficient and resilient payment systems. The Eurogroup also acknowledged, in its statement of 25 February, the potential of a digital euro to foster innovation in the financial system. It is worth noting that the digital euro in its current design limits innovation. A CBDC built on blockchain technology would allow for more innovative developments from the fintech and entrepreneurial sectors. In that context, both the European Parliament21 and ECOFIN Council22 welcomed in February and March 2022 the European Central Bank’s decision to launch a two-year investigation phase of a digital euro project, starting from October 2021. __________________ 20 Communication from the Commission to the European Parliament, the Council and the Committee of the Regions on a Digital Finance Strategy for the EU (COM/2020/591 final) 21 European Parliament’s resolution of 16 February 2022 on the European Central Bank – annual report 20212021/2063(INI) 22 https://data.consilium.europa.eu/doc/docu ment/ST-6301-2022-INIT/en/pdf
Amendment 128 #
2023/0212(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) To address the need of a rapidly digitalising economy, the digital euro should support a variety of use cases of retail payments. Those use case include person to person, person to business, person to government, business to person, business to business, business to government, government to person, government to business, and government to government payments. In addition, the digital euro should also be able to fulfil future payments needs, and in particular machine to machine payment in the context of Industry 4.0 and payments in the decentralised internet (web3). The digital euro should notexplore the possibility to cater for payments between financial intermediaries, payment service providers and other market participants (that is to say wholesale payments), for which settlement systems in central bank money exist and where the use of different technologies is being further investigated by the Eurosystem.
Amendment 128 #
2023/0212(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) To address the need of a rapidly digitalising economy, the digital euro should support a variety of use cases of retail payments. Those use case include person to person, person to business, person to government, business to person, business to business, business to government, government to person, government to business, and government to government payments. In addition, the digital euro should also be able to fulfil future payments needs, and in particular machine to machine payment in the context of Industry 4.0 and payments in the decentralised internet (web3). The digital euro should notexplore the possibility to cater for payments between financial intermediaries, payment service providers and other market participants (that is to say wholesale payments), for which settlement systems in central bank money exist and where the use of different technologies is being further investigated by the Eurosystem.
Amendment 134 #
2023/0212(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) In a context where cash alone cannot answer the needs of a digitalised economy, it is essential to supportshould be assessed whether financial inclusion could be supported by ensuring universal, affordable and easy access to the digital euro to individuals in the euro area, as well as its wide acceptance in payments, as well as whether the digital euro could be beneficial as a monetary anchor to commercial bank money. Financial exclusion in the digitalised economy may increase as private digital means of payments may not specifically cater for vulnerable groups of the society or may not be suitable in some rural or remote areas without a (stable) communication network. According to the World Bank and the Bank for International Settlements, “efficient, accessible and safe retail payment systems and services are critical for greater financial inclusion”.24 That finding was further substantiated by the study on new Digital Payment Methods commissioned by the European Central Bank, which concluded that for the unbanked/underbanked/offline population, the most important features of a new payment method are easiness of use, not requiring technological skills, and to be secure and free of charge.25 A digital euro would offer a public alternative to private digital means of payments anIf it is determined that issuance of the digital euro would be a net gain, this could support financial inclusion as it would be designed along these objectives, thus catering for free access, easinesse of use and wide accessibility and acceptance. __________________ 24 https://documents1.worldbank.org/curated/ en/806481470154477031/pdf/Payment- Aspects-of-Financial-Inclusion.pdf 25 Study on New Digital Payment Methods (europa.eu), March 2022. According to the World Bank, financial inclusion means that individuals have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance”.
Amendment 134 #
2023/0212(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) In a context where cash alone cannot answer the needs of a digitalised economy, it is essential to supportshould be assessed whether financial inclusion could be supported by ensuring universal, affordable and easy access to the digital euro to individuals in the euro area, as well as its wide acceptance in payments, as well as whether the digital euro could be beneficial as a monetary anchor to commercial bank money. Financial exclusion in the digitalised economy may increase as private digital means of payments may not specifically cater for vulnerable groups of the society or may not be suitable in some rural or remote areas without a (stable) communication network. According to the World Bank and the Bank for International Settlements, “efficient, accessible and safe retail payment systems and services are critical for greater financial inclusion”.24 That finding was further substantiated by the study on new Digital Payment Methods commissioned by the European Central Bank, which concluded that for the unbanked/underbanked/offline population, the most important features of a new payment method are easiness of use, not requiring technological skills, and to be secure and free of charge.25 A digital euro would offer a public alternative to private digital means of payments anIf it is determined that issuance of the digital euro would be a net gain, this could support financial inclusion as it would be designed along these objectives, thus catering for free access, easinesse of use and wide accessibility and acceptance. __________________ 24 https://documents1.worldbank.org/curated/ en/806481470154477031/pdf/Payment- Aspects-of-Financial-Inclusion.pdf 25 Study on New Digital Payment Methods (europa.eu), March 2022. According to the World Bank, financial inclusion means that individuals have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance”.
Amendment 136 #
2023/0212(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) The digital euro should complement euro banknotes and coins and shouldwill not replace the physical forms of the single currency. As legal tender instruments, both cash and digital euro are equally important. Regulation (EU) [please insert reference – proposal for a Regulation on the legal tender of euro banknotes and coins - COM/2023/364] would harmonise legal tender for cash and ensure that cash is widely distributed and effectively used.
Amendment 136 #
2023/0212(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) The digital euro should complement euro banknotes and coins and shouldwill not replace the physical forms of the single currency. As legal tender instruments, both cash and digital euro are equally important. Regulation (EU) [please insert reference – proposal for a Regulation on the legal tender of euro banknotes and coins - COM/2023/364] would harmonise legal tender for cash and ensure that cash is widely distributed and effectively used.
Amendment 140 #
2023/0212(COD)
Proposal for a regulation
Recital 7
Recital 7
(7) Future developments in digital payments may affect the role of the euro in retail payment markets both in the European Union and internationally. Many central banks around the world are currently exploring the issuance of central bank digital currencies (‘CBDCs’) and some countries have already issued a CBDC. In addition, so-called third country stablecoins not denominated in euro, could, if widely used for payments, displace euro denominated payments in the Union’s economy by satisfying demand for programmable payments (which are referred as conditional payments in the context of this Regulation), including in e- commerce, capital markets or industry 4.0. A digital euro would thereforeShould such threats materialize, the digital euro may be important tofor maintaining the role of the euro in the digital age.
Amendment 140 #
2023/0212(COD)
Proposal for a regulation
Recital 7
Recital 7
(7) Future developments in digital payments may affect the role of the euro in retail payment markets both in the European Union and internationally. Many central banks around the world are currently exploring the issuance of central bank digital currencies (‘CBDCs’) and some countries have already issued a CBDC. In addition, so-called third country stablecoins not denominated in euro, could, if widely used for payments, displace euro denominated payments in the Union’s economy by satisfying demand for programmable payments (which are referred as conditional payments in the context of this Regulation), including in e- commerce, capital markets or industry 4.0. A digital euro would thereforeShould such threats materialize, the digital euro may be important tofor maintaining the role of the euro in the digital age.
Amendment 143 #
2023/0212(COD)
Proposal for a regulation
Recital 8
Recital 8
(8) It is thereforWould the digital euro be deemed necessary in view of the previously laid out scenarios, it would be necessary to lay down a legal framework for establishing a digital form of the euro with the status of legal tender, for use by people, businesses and public authorities in the euro area. As a new form of the euro available to the general public, the digital euro should have important societal and economic consequences. It is therefore necessary to establish the digital euro and to regulate its main characteristics, as a measure of monetary law. The European Central Bank is competent to issue and to authorise the issuance of the digital euro by national central banks of the Member States whose currency is the euro, exercising its powers under the Treaties. On the basis of those powers and in accordance with the legal framework set out in this Regulation, the European Central Bank together with the co-legislators should thus be able to decide whether to issue the digital euro, at which times and in what amounts, and other particular measures that are intrinsically connected to its issuance, in addition toas separate from the ECB’s usual issuance of banknotes and coins.
Amendment 143 #
2023/0212(COD)
Proposal for a regulation
Recital 8
Recital 8
(8) It is thereforWould the digital euro be deemed necessary in view of the previously laid out scenarios, it would be necessary to lay down a legal framework for establishing a digital form of the euro with the status of legal tender, for use by people, businesses and public authorities in the euro area. As a new form of the euro available to the general public, the digital euro should have important societal and economic consequences. It is therefore necessary to establish the digital euro and to regulate its main characteristics, as a measure of monetary law. The European Central Bank is competent to issue and to authorise the issuance of the digital euro by national central banks of the Member States whose currency is the euro, exercising its powers under the Treaties. On the basis of those powers and in accordance with the legal framework set out in this Regulation, the European Central Bank together with the co-legislators should thus be able to decide whether to issue the digital euro, at which times and in what amounts, and other particular measures that are intrinsically connected to its issuance, in addition toas separate from the ECB’s usual issuance of banknotes and coins.
Amendment 144 #
2023/0212(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) Like euro banknotes and coins, the digital euro should be a direct liability of the European Central Bank or of the national central banks of the Member States whose currency is the euro towards digital euro users. The digital euro should be issued for an amount equal to the face value of the corresponding liability on the consolidated balance sheet of the European Central Bank and the national central banks of the Member States whose currency is thephysical euro, in particular by converting payment service providers’ central bank reserves into digital euro holdings, to satisfy demand from digital euro users. To hold and use digital euros, digital euro users should only need to establish a contractual relationship with payment service providers distributing the digital euro to open digital euro payment accounts. No account or other contractual relationship would be established between the digital euro user and the European Central Bank or the national central banks. Payment service providers should manage the digital euro accounts of digital euro users on their behalf and provide them with digital euro payment services. Since payment service providers are not a party to the direct liability held by digital euro users towards the European Central Bank and the national central banks of the Member States whose currency is the euro, and are acting on behalf of digital euro users, the insolvency of payment service providers would not affect digital euro users.
Amendment 144 #
2023/0212(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) Like euro banknotes and coins, the digital euro should be a direct liability of the European Central Bank or of the national central banks of the Member States whose currency is the euro towards digital euro users. The digital euro should be issued for an amount equal to the face value of the corresponding liability on the consolidated balance sheet of the European Central Bank and the national central banks of the Member States whose currency is thephysical euro, in particular by converting payment service providers’ central bank reserves into digital euro holdings, to satisfy demand from digital euro users. To hold and use digital euros, digital euro users should only need to establish a contractual relationship with payment service providers distributing the digital euro to open digital euro payment accounts. No account or other contractual relationship would be established between the digital euro user and the European Central Bank or the national central banks. Payment service providers should manage the digital euro accounts of digital euro users on their behalf and provide them with digital euro payment services. Since payment service providers are not a party to the direct liability held by digital euro users towards the European Central Bank and the national central banks of the Member States whose currency is the euro, and are acting on behalf of digital euro users, the insolvency of payment service providers would not affect digital euro users.
Amendment 152 #
2023/0212(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) As the initiator of the digital euro, it is the primary responsibility of the ECB to disseminate information and manage public relations campaigns to ensure the successful acceptance of this disruptive technology. It is particularly crucial to do this in a time of fake news and mass dangerous conspiracy theories. Member States, their relevant authorities and payment service providers should also support the ECB’s efforts and deploy information and educational measures to ensure the necessary level of awareness and knowledge of the different aspects of the digital euro.
Amendment 152 #
2023/0212(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) As the initiator of the digital euro, it is the primary responsibility of the ECB to disseminate information and manage public relations campaigns to ensure the successful acceptance of this disruptive technology. It is particularly crucial to do this in a time of fake news and mass dangerous conspiracy theories. Member States, their relevant authorities and payment service providers should also support the ECB’s efforts and deploy information and educational measures to ensure the necessary level of awareness and knowledge of the different aspects of the digital euro.
Amendment 156 #
2023/0212(COD)
Proposal for a regulation
Recital 18
Recital 18
(18) Since the digital euro requires the capacity to accept digital means of payment, imposing an obligation of mandatory acceptance of payments in digital euro on all payees could be disproportionate. To this end, exceptions to the mandatory acceptance of payments in digital euro should be provided for natural persons acting in the course of a purely personal or household activity. Exceptions to mandatory acceptance should also be provided for microenterprises, which are particularly important in the euro area for the development of entrepreneurship job creation and innovation, playing a vital role in shaping the economy. Union policies and actions should reduce regulatory burdens for enterprises of this size. Exceptions to mandatory acceptance should also be provided for non-profit legal entities which promote the public interest and serve the public good performing a variety of goals of societal interest, including equity, education, health, environmental protection and human rights. For microenterprises and non-profit legal entities, the acquisition of the required infrastructure and the acceptance costs would be disproportionate. They should therefore be exempted from the obligation to accept payments in digital euro. In such cases, other means for the settlement of monetary debts should remain available. Nevertheless, microenterprises and non- profit legal entities that accept comparable digital means of payment from payers should be subject to the mandatory acceptance of payments in digital euro. Comparable digital means of payment should include debit card payment or instant payment or other future technological solutions used at the point of interaction, but should exclude credit transfer and direct debit that are not initiated at the point of interaction. Microenterprises and non-profit legal entitiFor microenterprises, the acquisition of the required infrastructure and the acceptance costs would be disproportionate. They should therefore be exempted from the obligation to accept payments in digital euro. In such cases, other means for the settlement of monetary debts should remain available. Microenterprises that do not accept comparable digital means of payment from their payers in settlement of a debt (e.g. they only accept euro banknotes and coins), but may use digital payments in settlement of a debt to their payees (e.g. they pay with credit transfers), should not be subject to the mandatory acceptance of payments in digital euro. Finally, a payee may also refuse a payment in digital euro if the refusal is made in good faith and if the payee justifies the refusal on legitimate and temporary grounds, proportionate to concrete circumstances beyond its control, leading to an impossibility to accept payments in digital euro at the relevant time of the transaction, such as a power outage in the case of online digital euro payment transactions, or a defective device in the case of offline or online digital euro payment transactions.
Amendment 156 #
2023/0212(COD)
Proposal for a regulation
Recital 18
Recital 18
(18) Since the digital euro requires the capacity to accept digital means of payment, imposing an obligation of mandatory acceptance of payments in digital euro on all payees could be disproportionate. To this end, exceptions to the mandatory acceptance of payments in digital euro should be provided for natural persons acting in the course of a purely personal or household activity. Exceptions to mandatory acceptance should also be provided for microenterprises, which are particularly important in the euro area for the development of entrepreneurship job creation and innovation, playing a vital role in shaping the economy. Union policies and actions should reduce regulatory burdens for enterprises of this size. Exceptions to mandatory acceptance should also be provided for non-profit legal entities which promote the public interest and serve the public good performing a variety of goals of societal interest, including equity, education, health, environmental protection and human rights. For microenterprises and non-profit legal entities, the acquisition of the required infrastructure and the acceptance costs would be disproportionate. They should therefore be exempted from the obligation to accept payments in digital euro. In such cases, other means for the settlement of monetary debts should remain available. Nevertheless, microenterprises and non- profit legal entities that accept comparable digital means of payment from payers should be subject to the mandatory acceptance of payments in digital euro. Comparable digital means of payment should include debit card payment or instant payment or other future technological solutions used at the point of interaction, but should exclude credit transfer and direct debit that are not initiated at the point of interaction. Microenterprises and non-profit legal entitiFor microenterprises, the acquisition of the required infrastructure and the acceptance costs would be disproportionate. They should therefore be exempted from the obligation to accept payments in digital euro. In such cases, other means for the settlement of monetary debts should remain available. Microenterprises that do not accept comparable digital means of payment from their payers in settlement of a debt (e.g. they only accept euro banknotes and coins), but may use digital payments in settlement of a debt to their payees (e.g. they pay with credit transfers), should not be subject to the mandatory acceptance of payments in digital euro. Finally, a payee may also refuse a payment in digital euro if the refusal is made in good faith and if the payee justifies the refusal on legitimate and temporary grounds, proportionate to concrete circumstances beyond its control, leading to an impossibility to accept payments in digital euro at the relevant time of the transaction, such as a power outage in the case of online digital euro payment transactions, or a defective device in the case of offline or online digital euro payment transactions.
Amendment 164 #
2023/0212(COD)
Proposal for a regulation
Recital 25
Recital 25
(25) For the purpose of properly enforcing any holding limits on the use of the digital euro decided upon by the European Central Bank in conjunction with the co-legislators, when on-boarding digital euro users, or during ex-post checks where appropriate, payment service providers in charge of distributing the digital euro should verify whether their prospective or existing customer already has digital euro payment accounts. The European Central Bank may support payment service providers in performing the task of enforcing any holding limits, including by establishing alone or jointly with national central banks a single access point of digital euro user identifiers and the related digital euro holding limits. The European Central Bank should implement appropriate technical and organisational measures, including state-of-the-art security and privacy-preserving measures, to ensure that the identity of individual digital euro users cannot be linked with the information in the single access point by entities other than payment service providers whose client or potential customer is the digital euro user. The European Central Bank should be controller to the extent that these activities require processing of personal data. When the European Central Bank establishes the single access point together with the national central banks, they should be joint controllers.
Amendment 164 #
2023/0212(COD)
Proposal for a regulation
Recital 25
Recital 25
(25) For the purpose of properly enforcing any holding limits on the use of the digital euro decided upon by the European Central Bank in conjunction with the co-legislators, when on-boarding digital euro users, or during ex-post checks where appropriate, payment service providers in charge of distributing the digital euro should verify whether their prospective or existing customer already has digital euro payment accounts. The European Central Bank may support payment service providers in performing the task of enforcing any holding limits, including by establishing alone or jointly with national central banks a single access point of digital euro user identifiers and the related digital euro holding limits. The European Central Bank should implement appropriate technical and organisational measures, including state-of-the-art security and privacy-preserving measures, to ensure that the identity of individual digital euro users cannot be linked with the information in the single access point by entities other than payment service providers whose client or potential customer is the digital euro user. The European Central Bank should be controller to the extent that these activities require processing of personal data. When the European Central Bank establishes the single access point together with the national central banks, they should be joint controllers.
Amendment 166 #
2023/0212(COD)
Proposal for a regulation
Recital 26
Recital 26
(26) To support universal access to the digital euro by the general public in the euro area, and to foster innovation and a high level of competition in the retail payment market, all the relevant intermediaries should be able to distribute the digital euro. All account servicing payment service providers under Directive 2015/2366, including credit institutions, electronic money institutions, payment institutions, post office giro institutions which are entitled under national law to provide payment services, the European Central Bank and national central banks of Member States whose currency is the euro, as part of the Eurosystem, when not acting in their capacity as monetary authority or other public authorities, and Member States or their regional or local authorities when not acting in their capacity as public authorities should be able to provide digital euro payment accounts and the related digital euro payment services, regardless of their location in the European Economic Area, provided the transition and the costs of upgrading necessary infrastructure is guaranteed by the Eurosystem and not forced onto the intermediary or the merchants. Crypto asset services providers regulated under Regulation 2023/1114 of the European Parliament and of the Council29 that are account servicing payment service providers under Directive 2015/2366 should also be allowed to distribute the digital euro. In accordance with Directive 2015/2366, account servicing payment service providers should be obliged to provide access to data on payment accounts to payment initiation and account information service providers based on Application Programming Interfaces (APIs), to allow them to develop and provide innovative additional services. __________________ 29 Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets, and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937, OJ L150, 9.6.2023, p. 40
Amendment 166 #
2023/0212(COD)
Proposal for a regulation
Recital 26
Recital 26
(26) To support universal access to the digital euro by the general public in the euro area, and to foster innovation and a high level of competition in the retail payment market, all the relevant intermediaries should be able to distribute the digital euro. All account servicing payment service providers under Directive 2015/2366, including credit institutions, electronic money institutions, payment institutions, post office giro institutions which are entitled under national law to provide payment services, the European Central Bank and national central banks of Member States whose currency is the euro, as part of the Eurosystem, when not acting in their capacity as monetary authority or other public authorities, and Member States or their regional or local authorities when not acting in their capacity as public authorities should be able to provide digital euro payment accounts and the related digital euro payment services, regardless of their location in the European Economic Area, provided the transition and the costs of upgrading necessary infrastructure is guaranteed by the Eurosystem and not forced onto the intermediary or the merchants. Crypto asset services providers regulated under Regulation 2023/1114 of the European Parliament and of the Council29 that are account servicing payment service providers under Directive 2015/2366 should also be allowed to distribute the digital euro. In accordance with Directive 2015/2366, account servicing payment service providers should be obliged to provide access to data on payment accounts to payment initiation and account information service providers based on Application Programming Interfaces (APIs), to allow them to develop and provide innovative additional services. __________________ 29 Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets, and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937, OJ L150, 9.6.2023, p. 40
Amendment 167 #
2023/0212(COD)
Proposal for a regulation
Recital 27
Recital 27
(27) In case the availability of the digital euro were contingent upon free business decisions by all payment service providers, the digital euro could be marginalised or even excluded by the payment service providers. That could prevent users fromthe interest of protecting the free market, the stability of the financial system and the free business decisions of businesses and consumers, the digital euro, while granted legal tender status, must remain one payment option and not a substitute to cash. Users should paying and receivinge payments in all forms of currency endowed with the status of legal tender. In that case, the singleness in the use of the digital euro throughout the euro area required by Article 133 TFEU, would not be guaranteed. It is therefore essential that designated payment service providers be requiredable to distribute digital euro basic services alongside other payment options.
Amendment 167 #
2023/0212(COD)
Proposal for a regulation
Recital 27
Recital 27
(27) In case the availability of the digital euro were contingent upon free business decisions by all payment service providers, the digital euro could be marginalised or even excluded by the payment service providers. That could prevent users fromthe interest of protecting the free market, the stability of the financial system and the free business decisions of businesses and consumers, the digital euro, while granted legal tender status, must remain one payment option and not a substitute to cash. Users should paying and receivinge payments in all forms of currency endowed with the status of legal tender. In that case, the singleness in the use of the digital euro throughout the euro area required by Article 133 TFEU, would not be guaranteed. It is therefore essential that designated payment service providers be requiredable to distribute digital euro basic services alongside other payment options.
Amendment 168 #
2023/0212(COD)
Proposal for a regulation
Recital 29
Recital 29
(29) To ensure a wide usage of the digital euro, including for people who do not have a non-digital euro payment account, do not wish to open a digital euro payment account at a credit institution or at another payment service providers that may distribute the digital euro, or persons with disabilities, functional limitations or limited digital skills, and elderly persons, it is essential that public entities, including local or regional authorities, or postal offices, distribute the digital euro. For thate purpose, Member States should of broader accessibility, Member States will be responsible for deciding to designate their own entities that should carry out that taske task of wider distribution of the digital euro within their territory. Such entities, as payment services providers under Directive (EU) 2015/2366, should comply with the provisions of this Regulation, including Directive (EU) 2015/2366 and Directive (EU) 2015/849.
Amendment 168 #
2023/0212(COD)
Proposal for a regulation
Recital 29
Recital 29
(29) To ensure a wide usage of the digital euro, including for people who do not have a non-digital euro payment account, do not wish to open a digital euro payment account at a credit institution or at another payment service providers that may distribute the digital euro, or persons with disabilities, functional limitations or limited digital skills, and elderly persons, it is essential that public entities, including local or regional authorities, or postal offices, distribute the digital euro. For thate purpose, Member States should of broader accessibility, Member States will be responsible for deciding to designate their own entities that should carry out that taske task of wider distribution of the digital euro within their territory. Such entities, as payment services providers under Directive (EU) 2015/2366, should comply with the provisions of this Regulation, including Directive (EU) 2015/2366 and Directive (EU) 2015/849.
Amendment 171 #
2023/0212(COD)
Proposal for a regulation
Recital 30
Recital 30
(30) To enable a wide usage of the digital euro and keep pace with innovation in digital payments, digital euro payment services should include basic and additional digital euro payment services. Basic digital euro payment services are payment, account or support services that are considered essential for the use of the digital euro by natural persons. This includes inter alia the provision of at least one payment instrument to natural persons. Only account servicing payment service providers under Directive 2015/2366 should provide the entire set of basic digital euro services. In addition to these basic digital euro payment services, account servicing payment service providers and other payment service providers under Directive 2015/2366 may develop and provide additional digital euro payment services. Additional digital euro payment services include for instance conditional digital euro payment transactions like pay-per-use or payment initiation services. The digital euro infrastructure should facilitate the deployment of such optional services. To be truly innovative and bring value to European businesses and consumers, the digital euro could be built on blockchain.
Amendment 171 #
2023/0212(COD)
Proposal for a regulation
Recital 30
Recital 30
(30) To enable a wide usage of the digital euro and keep pace with innovation in digital payments, digital euro payment services should include basic and additional digital euro payment services. Basic digital euro payment services are payment, account or support services that are considered essential for the use of the digital euro by natural persons. This includes inter alia the provision of at least one payment instrument to natural persons. Only account servicing payment service providers under Directive 2015/2366 should provide the entire set of basic digital euro services. In addition to these basic digital euro payment services, account servicing payment service providers and other payment service providers under Directive 2015/2366 may develop and provide additional digital euro payment services. Additional digital euro payment services include for instance conditional digital euro payment transactions like pay-per-use or payment initiation services. The digital euro infrastructure should facilitate the deployment of such optional services. To be truly innovative and bring value to European businesses and consumers, the digital euro could be built on blockchain.
Amendment 173 #
2023/0212(COD)
Proposal for a regulation
Recital 31
Recital 31
(31) Pursuant to its powers under the Treaties and in line with the provisions of this Regulation, the European Central Bank in conjunction with the co-legislators should be able to set limits on the use of the digital euro as a store of value. The effective use of the digital euro as a legal tender means of payment should be preserved through limits on inter-PSP or merchant feesfees. Fees should be abolished to make sure merchants do not burden the cost of mandatory acceptance.
Amendment 173 #
2023/0212(COD)
Proposal for a regulation
Recital 31
Recital 31
(31) Pursuant to its powers under the Treaties and in line with the provisions of this Regulation, the European Central Bank in conjunction with the co-legislators should be able to set limits on the use of the digital euro as a store of value. The effective use of the digital euro as a legal tender means of payment should be preserved through limits on inter-PSP or merchant feesfees. Fees should be abolished to make sure merchants do not burden the cost of mandatory acceptance.
Amendment 178 #
2023/0212(COD)
Proposal for a regulation
Recital 32
Recital 32
(32) An unrestricted use of digital euro as a store of value could endanger financial stability in the euro area, with adverse effects on credit provision to the economy by credit institutions. This may require that the European Central Bank, with a view to ensuring the stability of the financial system, and in line with the principle of proportionality, introduce limits on the digital euro’s use as a store of value. The policy tools that could be used for this purpose include, but would not be restricted to, quantitative limits to individual digital euro holdings and limits to conversion of other categories of funds to digital euro in a specified timeframe. All changes to the digital euro must not be taken unilaterally by the ECB, but rather in conjunction with the co-legislators. When deciding on the parameters and use of the instruments referred to in paragraph 1, the European Central Bank should respectprioritize the principles of an open market economy with free competition, in accordance with Article 127(1) TFEU.
Amendment 178 #
2023/0212(COD)
Proposal for a regulation
Recital 32
Recital 32
(32) An unrestricted use of digital euro as a store of value could endanger financial stability in the euro area, with adverse effects on credit provision to the economy by credit institutions. This may require that the European Central Bank, with a view to ensuring the stability of the financial system, and in line with the principle of proportionality, introduce limits on the digital euro’s use as a store of value. The policy tools that could be used for this purpose include, but would not be restricted to, quantitative limits to individual digital euro holdings and limits to conversion of other categories of funds to digital euro in a specified timeframe. All changes to the digital euro must not be taken unilaterally by the ECB, but rather in conjunction with the co-legislators. When deciding on the parameters and use of the instruments referred to in paragraph 1, the European Central Bank should respectprioritize the principles of an open market economy with free competition, in accordance with Article 127(1) TFEU.
Amendment 180 #
2023/0212(COD)
Proposal for a regulation
Recital 32
Recital 32
(32) An unrestricted use of digital euro as a store of value could endanger financial stability in the euro area, with adverse effects on credit provision to the economy by credit institutions. This may require that the European Central Bank, with a view to ensuring the stability of the financial system, and in line with the principle of proportionality, introduce limits on the digital euro’s use as a store of value. The policy tools that could be used for this purpose include, but would not be restricted to, quantitative limits to individual digital euro holdings and limits to conversion of other categories of funds to digital euro in a specified timeframe. When deciding on the parameters and use of the instruments referred to in paragraph 1, the European Central Bank should respect the principle of an open market economy with free competition, in accordance with Article 127(1) TFEU.
Amendment 180 #
2023/0212(COD)
Proposal for a regulation
Recital 32
Recital 32
(32) An unrestricted use of digital euro as a store of value could endanger financial stability in the euro area, with adverse effects on credit provision to the economy by credit institutions. This may require that the European Central Bank, with a view to ensuring the stability of the financial system, and in line with the principle of proportionality, introduce limits on the digital euro’s use as a store of value. The policy tools that could be used for this purpose include, but would not be restricted to, quantitative limits to individual digital euro holdings and limits to conversion of other categories of funds to digital euro in a specified timeframe. When deciding on the parameters and use of the instruments referred to in paragraph 1, the European Central Bank should respect the principle of an open market economy with free competition, in accordance with Article 127(1) TFEU.
Amendment 190 #
2023/0212(COD)
Proposal for a regulation
Recital 39
Recital 39
(39) Any limits to the store of value function that the European Central Bank together with the co-legislators decided on should be binding on and implemented by the payment service providers distributing the digital euro. While natural or legal persons may have one or more digital euro payment accounts at the same payment service provider or at different payment service providers, they should be subject to an individual holding limit that a digital euro user may allocate across different payment services providers. Payment service providers may offer digital euro users the possibility to legally have a joint digital euro payment account. In this case, any holding limit applied to the joint digital euro payment account should be equal to the sum of the allocated holding limits of the digital euro users. Where a digital euro payment account is legally held by only one digital euro user, but can be technically accessed to and used by several persons, upon de facto or legal mandate given by the digital euro user, any holding limit applied to the digital euro payment account should remain equal to the holding limit defined for a digital euro payment account held by a single digital euro user, to avoid any circumvention of the holding limits.
Amendment 190 #
2023/0212(COD)
Proposal for a regulation
Recital 39
Recital 39
(39) Any limits to the store of value function that the European Central Bank together with the co-legislators decided on should be binding on and implemented by the payment service providers distributing the digital euro. While natural or legal persons may have one or more digital euro payment accounts at the same payment service provider or at different payment service providers, they should be subject to an individual holding limit that a digital euro user may allocate across different payment services providers. Payment service providers may offer digital euro users the possibility to legally have a joint digital euro payment account. In this case, any holding limit applied to the joint digital euro payment account should be equal to the sum of the allocated holding limits of the digital euro users. Where a digital euro payment account is legally held by only one digital euro user, but can be technically accessed to and used by several persons, upon de facto or legal mandate given by the digital euro user, any holding limit applied to the digital euro payment account should remain equal to the holding limit defined for a digital euro payment account held by a single digital euro user, to avoid any circumvention of the holding limits.
Amendment 192 #
2023/0212(COD)
Proposal for a regulation
Recital 40
Recital 40
(40) To ensure wide access to and use of the digital euro, consistent with its status of legal tender, and to support its role as monetary anchor in the euro area, natural persons residing in the euro area, natural persons who opened a digital euro account at the time they resided in the euro area, but no longer reside there, as well as visitors, should not be charged for basic digital euro payment services. That means that such digital euro users should not bear any direct fees for their basic access to and basic use of the digital euro, including not being charged transaction fees or any other fees that are directly associated with the provision of services related to the basic use of the digital euro. Digital euro users should not be required to have or open a non-digital euro payment account or to accept other non-digital euro products. Where the digital euro user agrees to a package of services comprising non-digital euro services and basic digital euro payment services, the payment service provider should be able to charge that package of services at its discretion. In that case, there should not be a differentiated charge for the non-digital euro services when they are offered separately or as part of a package including basic digital euro payment services. Where the digital euro user asks to receive only basic digital euro payment services with a payment service provider, those services should not be charged, including for waterfall and reverse waterfall functionalities where the digital euro user also has a non-digital euro payment account with another payment service provider. Payment service providers should be able to charge digital euro users for additional digital euro payment services beyond the basic digital euro payment services free of the interference of the ECB or any other regulatory body to ensure the free market allows for innovation and fair competition.
Amendment 192 #
2023/0212(COD)
Proposal for a regulation
Recital 40
Recital 40
(40) To ensure wide access to and use of the digital euro, consistent with its status of legal tender, and to support its role as monetary anchor in the euro area, natural persons residing in the euro area, natural persons who opened a digital euro account at the time they resided in the euro area, but no longer reside there, as well as visitors, should not be charged for basic digital euro payment services. That means that such digital euro users should not bear any direct fees for their basic access to and basic use of the digital euro, including not being charged transaction fees or any other fees that are directly associated with the provision of services related to the basic use of the digital euro. Digital euro users should not be required to have or open a non-digital euro payment account or to accept other non-digital euro products. Where the digital euro user agrees to a package of services comprising non-digital euro services and basic digital euro payment services, the payment service provider should be able to charge that package of services at its discretion. In that case, there should not be a differentiated charge for the non-digital euro services when they are offered separately or as part of a package including basic digital euro payment services. Where the digital euro user asks to receive only basic digital euro payment services with a payment service provider, those services should not be charged, including for waterfall and reverse waterfall functionalities where the digital euro user also has a non-digital euro payment account with another payment service provider. Payment service providers should be able to charge digital euro users for additional digital euro payment services beyond the basic digital euro payment services free of the interference of the ECB or any other regulatory body to ensure the free market allows for innovation and fair competition.
Amendment 193 #
2023/0212(COD)
Proposal for a regulation
Recital 42
Recital 42
(42) As the digital euro is a form of the single currency having legal tender status, digital euro payment transactions should not be subject to excessive fees by payment service providers. In particular, granting the digital euro legal tender status, with the corollary of mandatory acceptance, means that merchants would have no choice but to accept digital euro payment transactions. Furthermore, any charge or fee per transaction or period erodes, directly or indirectly, the face value of payments received, which is an essential component of the legal tender status. It is therefore essential that a fee or a charge, as a restriction of the face value of the digital euro, be objectively justified and proportionate to the objective of ensuring an effective use of the digital euro as a legal tender means of payment. Ultimately, the laws of the free market should be allowed to prevail in the setting of fees among PSPs and merchants with respect to digital euro transactions.
Amendment 193 #
2023/0212(COD)
Proposal for a regulation
Recital 42
Recital 42
(42) As the digital euro is a form of the single currency having legal tender status, digital euro payment transactions should not be subject to excessive fees by payment service providers. In particular, granting the digital euro legal tender status, with the corollary of mandatory acceptance, means that merchants would have no choice but to accept digital euro payment transactions. Furthermore, any charge or fee per transaction or period erodes, directly or indirectly, the face value of payments received, which is an essential component of the legal tender status. It is therefore essential that a fee or a charge, as a restriction of the face value of the digital euro, be objectively justified and proportionate to the objective of ensuring an effective use of the digital euro as a legal tender means of payment. Ultimately, the laws of the free market should be allowed to prevail in the setting of fees among PSPs and merchants with respect to digital euro transactions.
Amendment 194 #
2023/0212(COD)
Proposal for a regulation
Recital 43
Recital 43
(43) To ensure that fees and charges are uniform across the euro area and proportionate, the European Central Bank should regularly monitor their level and, on this basis, publish the corresponding amounts together with an explanatory report. A maximum fee or charge should allow for free competition between intermediaries below that level. Fees or charges should not exceed the relevant costs incurred by payment service providers for the provision of digital euro payment services in relation to digital euro payment transactions, which are objective elements, and may include a reasonable margin of profit. For that purpose, the European Central Bank should use an estimate of the representative average cost incurred by payment service providers across the euro area and should therefore be in a position to collect relevant data from payment service providers. The relevant costs for providing digital euro payment services in relation to digital euro payment transactions should be based on the costs incurred by a representative group of the most efficient payment service providers in a given year. Competent authorities designated by Member States should be responsible for ensuring compliance by payment service providers with these maximum fees or chargesTo preserve the integrity of the free market, no maximum caps on fees should be set. Rather, that should be the imperative of each PSP, in accordance with the principle of fair competition.
Amendment 194 #
2023/0212(COD)
Proposal for a regulation
Recital 43
Recital 43
(43) To ensure that fees and charges are uniform across the euro area and proportionate, the European Central Bank should regularly monitor their level and, on this basis, publish the corresponding amounts together with an explanatory report. A maximum fee or charge should allow for free competition between intermediaries below that level. Fees or charges should not exceed the relevant costs incurred by payment service providers for the provision of digital euro payment services in relation to digital euro payment transactions, which are objective elements, and may include a reasonable margin of profit. For that purpose, the European Central Bank should use an estimate of the representative average cost incurred by payment service providers across the euro area and should therefore be in a position to collect relevant data from payment service providers. The relevant costs for providing digital euro payment services in relation to digital euro payment transactions should be based on the costs incurred by a representative group of the most efficient payment service providers in a given year. Competent authorities designated by Member States should be responsible for ensuring compliance by payment service providers with these maximum fees or chargesTo preserve the integrity of the free market, no maximum caps on fees should be set. Rather, that should be the imperative of each PSP, in accordance with the principle of fair competition.
Amendment 196 #
2023/0212(COD)
Proposal for a regulation
Recital 44
Recital 44
(44) Furthermore, to ensure an effective use of the digital euro, it is important that the market is allowed to adjust so that any fees or charges are not higher than those requested for comparable private digital means of payment. International card schemes regulated under Regulation (EU) 2015/751 of the European Parliament and the Council30 , national card schemes, and instant payments at the point of interaction provided by payment service providers should be considered comparable means of payments. __________________ 30 Regulation (EU) 2015/751 of the European Parliament and of the Council of 29 April 2015 on interchange fees for card- based payment transactions (OJ L 123, 19.5.2015, p. 1).
Amendment 196 #
2023/0212(COD)
Proposal for a regulation
Recital 44
Recital 44
(44) Furthermore, to ensure an effective use of the digital euro, it is important that the market is allowed to adjust so that any fees or charges are not higher than those requested for comparable private digital means of payment. International card schemes regulated under Regulation (EU) 2015/751 of the European Parliament and the Council30 , national card schemes, and instant payments at the point of interaction provided by payment service providers should be considered comparable means of payments. __________________ 30 Regulation (EU) 2015/751 of the European Parliament and of the Council of 29 April 2015 on interchange fees for card- based payment transactions (OJ L 123, 19.5.2015, p. 1).
Amendment 197 #
2023/0212(COD)
Proposal for a regulation
Recital 45
Recital 45
(45) As payment services providers distributing the digital euro would not be in a position to charge fees to natural persons for basic digital euro payment services, an inter-PSP fee may be neededa potential solution to provide compensation to those payment service providers for the distribution costs. The inter-PSP fee should provide sufficient compensation for the distribution costs of both the distributing and acquiring payment service providers, including a reasonable margin of profit.
Amendment 197 #
2023/0212(COD)
Proposal for a regulation
Recital 45
Recital 45
(45) As payment services providers distributing the digital euro would not be in a position to charge fees to natural persons for basic digital euro payment services, an inter-PSP fee may be neededa potential solution to provide compensation to those payment service providers for the distribution costs. The inter-PSP fee should provide sufficient compensation for the distribution costs of both the distributing and acquiring payment service providers, including a reasonable margin of profit.
Amendment 198 #
2023/0212(COD)
Proposal for a regulation
Recital 47
Recital 47
(47) An excessive distribution of the digital euro outside the euro area could have an unwanted impact on the size and composition of the consolidated balance sheet of the European Central Bank and national central banks. Impacts on monetary sovereignty and financial stability of non-euro area countries may also differ depending on the use of the digital euro outside the euro area. Those impacts could be harmful in case the digital euro replaces the local currency in a high number of domestic transactions. In particular, a situation in which the digital euro becomes dominant in a Member State whose currency is not the euro, thus de facto replacing the national currency, could interfere with the euro area adoption criteria and process set out in Article 140 TFEU. To avoid undesirable effects and prevent monetary sovereignty and financial stability risks, both within and outside the euro area, it is necessary to provide for the possibility for the Union, with full transparency and the democratic involvement of the co-legislators, to conclude agreements with third countries, and for the European Central Bank to conclude arrangements with the national central banks of Member States whose currency is not the euro and with the national central banks of third countries, to specify the conditions for the regular provision of digital euro payment services to digital euro users residing or established outside the euro area. Such agreements and arrangements should not cover visitors to the euro area, to whom payment service providers established in the European Economic Area31 , in line with the Agreement on the European Economic Area, may directly provide digital euro payment services. __________________ 31 Agreement on the European Economic Area (OJ L 1, 3.1.1994, p. 3).
Amendment 198 #
2023/0212(COD)
Proposal for a regulation
Recital 47
Recital 47
(47) An excessive distribution of the digital euro outside the euro area could have an unwanted impact on the size and composition of the consolidated balance sheet of the European Central Bank and national central banks. Impacts on monetary sovereignty and financial stability of non-euro area countries may also differ depending on the use of the digital euro outside the euro area. Those impacts could be harmful in case the digital euro replaces the local currency in a high number of domestic transactions. In particular, a situation in which the digital euro becomes dominant in a Member State whose currency is not the euro, thus de facto replacing the national currency, could interfere with the euro area adoption criteria and process set out in Article 140 TFEU. To avoid undesirable effects and prevent monetary sovereignty and financial stability risks, both within and outside the euro area, it is necessary to provide for the possibility for the Union, with full transparency and the democratic involvement of the co-legislators, to conclude agreements with third countries, and for the European Central Bank to conclude arrangements with the national central banks of Member States whose currency is not the euro and with the national central banks of third countries, to specify the conditions for the regular provision of digital euro payment services to digital euro users residing or established outside the euro area. Such agreements and arrangements should not cover visitors to the euro area, to whom payment service providers established in the European Economic Area31 , in line with the Agreement on the European Economic Area, may directly provide digital euro payment services. __________________ 31 Agreement on the European Economic Area (OJ L 1, 3.1.1994, p. 3).
Amendment 199 #
2023/0212(COD)
Proposal for a regulation
Recital 48
Recital 48
(48) The provision of digital euro payment services to digital euro users residing or established in a Member State whose currency is not the euro should be subject to a prior arrangement between the European Central Bank and the national central bank of the Member State whose currency is not the euro, following a request from the Member State whose currency is not the euro, pending approval of the co-legislators. In line with the Agreement on the European Economic Area, digital euro users residing or established in non-euro area Member States may be provided digital euro payment services by payment service providers established in the European Economic Area.
Amendment 199 #
2023/0212(COD)
Proposal for a regulation
Recital 48
Recital 48
(48) The provision of digital euro payment services to digital euro users residing or established in a Member State whose currency is not the euro should be subject to a prior arrangement between the European Central Bank and the national central bank of the Member State whose currency is not the euro, following a request from the Member State whose currency is not the euro, pending approval of the co-legislators. In line with the Agreement on the European Economic Area, digital euro users residing or established in non-euro area Member States may be provided digital euro payment services by payment service providers established in the European Economic Area.
Amendment 200 #
2023/0212(COD)
Proposal for a regulation
Recital 52
Recital 52
(52) Digital euro users, whether they reside or are established within the euro area or not, may also have the capacity to receive or initiate cross-currency payments between the digital euro and a local currency. Arrangements concluded between the European Central Bank and national central banks in Member States whose currency is not the euro and in third countries should specify the conditions for access to and use of interoperable payment systems for the purpose of cross-currency payments involving the digital euro. These agreements should not enter into force without approval from the co-legislators.
Amendment 200 #
2023/0212(COD)
Proposal for a regulation
Recital 52
Recital 52
(52) Digital euro users, whether they reside or are established within the euro area or not, may also have the capacity to receive or initiate cross-currency payments between the digital euro and a local currency. Arrangements concluded between the European Central Bank and national central banks in Member States whose currency is not the euro and in third countries should specify the conditions for access to and use of interoperable payment systems for the purpose of cross-currency payments involving the digital euro. These agreements should not enter into force without approval from the co-legislators.
Amendment 201 #
2023/0212(COD)
Proposal for a regulation
Recital 53
Recital 53
(53) AWith approval from the co- legislators, agreements and arrangements related to the provision of digital euro payment services or cross-currency payments involving the digital euro should be concluded on a voluntary basis, inwith priority withgiven to non-euro area Member States. The European Central Bank should cooperate with national central banks of Member States whose currency is not the euro for the purpose of cross-currency payments involving the digital euro.
Amendment 201 #
2023/0212(COD)
Proposal for a regulation
Recital 53
Recital 53
(53) AWith approval from the co- legislators, agreements and arrangements related to the provision of digital euro payment services or cross-currency payments involving the digital euro should be concluded on a voluntary basis, inwith priority withgiven to non-euro area Member States. The European Central Bank should cooperate with national central banks of Member States whose currency is not the euro for the purpose of cross-currency payments involving the digital euro.
Amendment 202 #
2023/0212(COD)
Proposal for a regulation
Recital 54
Recital 54
(54) The technical design of the digital euro should make it widely accessible to and usable by the general public. That design should, in particular, take into account support access to financially excluded persons or persons at risk of financial exclusion, persons with disabilities by ensuring compliance with accessibility requirements laid down in Annex I of Directive (EU) 2019/882 of the European Parliament and the Council32 (European Accessibility Act), persons with functional limitations who would also benefit from accessibility, or persons with limited digital skills and elderly persons. For that purpose, the digital euro should have usage features that are simple and easy to handle, and should be sufficiently accessible through a wide range of hardware devices to cater for the needs of different groups of the population. Furthermore, payment service providers should provide digital euro users with digital euro payment services, regardless of those users holding non-digital euro payment accounts. In addition, those users should be allowed to have digital euro payment accounts with payment service providers that are different from the ones with which they have non-digital euro payment accounts. __________________ 32 Directive (EU) 2019/882 of the European Parliament and of the Council of 17 April 2019 on the accessibility requirements for products and services (OJ L 151, 7.6.2019, p. 70).
Amendment 202 #
2023/0212(COD)
Proposal for a regulation
Recital 54
Recital 54
(54) The technical design of the digital euro should make it widely accessible to and usable by the general public. That design should, in particular, take into account support access to financially excluded persons or persons at risk of financial exclusion, persons with disabilities by ensuring compliance with accessibility requirements laid down in Annex I of Directive (EU) 2019/882 of the European Parliament and the Council32 (European Accessibility Act), persons with functional limitations who would also benefit from accessibility, or persons with limited digital skills and elderly persons. For that purpose, the digital euro should have usage features that are simple and easy to handle, and should be sufficiently accessible through a wide range of hardware devices to cater for the needs of different groups of the population. Furthermore, payment service providers should provide digital euro users with digital euro payment services, regardless of those users holding non-digital euro payment accounts. In addition, those users should be allowed to have digital euro payment accounts with payment service providers that are different from the ones with which they have non-digital euro payment accounts. __________________ 32 Directive (EU) 2019/882 of the European Parliament and of the Council of 17 April 2019 on the accessibility requirements for products and services (OJ L 151, 7.6.2019, p. 70).
Amendment 204 #
2023/0212(COD)
Proposal for a regulation
Recital 55
Recital 55
(55) The digital euro should support the programming of conditional digital euro payment transactions by payment service providers. The digital euro should, however, not bever become “programmable money”, which means units that, due to intrinsically defined spending conditions, can only be used for buying specific types of goods or services, or are subject to time limits after which they are no longer usable. Conditional payment transactions are payments which are automatically triggered by software based on pre-defined and agreed conditions. Conditional payments should not have, as object or effect, the use of digital euro as programmable money. Payment service providers could develop different types of logic to offer a range of conditional payment transactions to digital euro users, including automated payment transactions for placing or withdrawing digital euros, payment standing orders that trigger automatic payments of a specific amount on a specific date, and payments between machines where those machines are programmed to automatically trigger payments for their own spare parts upon ordering them, for charging and paying electricity at most favourable market conditions, for paying insurance, and leasing and maintenance fees on a usage basis.
Amendment 204 #
2023/0212(COD)
Proposal for a regulation
Recital 55
Recital 55
(55) The digital euro should support the programming of conditional digital euro payment transactions by payment service providers. The digital euro should, however, not bever become “programmable money”, which means units that, due to intrinsically defined spending conditions, can only be used for buying specific types of goods or services, or are subject to time limits after which they are no longer usable. Conditional payment transactions are payments which are automatically triggered by software based on pre-defined and agreed conditions. Conditional payments should not have, as object or effect, the use of digital euro as programmable money. Payment service providers could develop different types of logic to offer a range of conditional payment transactions to digital euro users, including automated payment transactions for placing or withdrawing digital euros, payment standing orders that trigger automatic payments of a specific amount on a specific date, and payments between machines where those machines are programmed to automatically trigger payments for their own spare parts upon ordering them, for charging and paying electricity at most favourable market conditions, for paying insurance, and leasing and maintenance fees on a usage basis.
Amendment 205 #
2023/0212(COD)
Proposal for a regulation
Recital 56
Recital 56
(56) To facilitate the use of digital euro and the provision of innovative services, the Eurosystem should support the provision ofdevelopment of innovation and solutions using conditional digital euro payment transactions where in demand and appropriate. First, some types of conditional payment services could be supported through detailed measures, rules and standards that could help payment service providers to develop and operate interoperable applications that execute conditional logic. That could include a set of technical tools such as application programming interfaces. Second, the Eurosystem could provide additional functionalities in the digital euro settlement infrastructure, necessary for the provision of conditional payment services to digital euro users. That could facilitate the reservation of funds in the settlement infrastructure for future execution of some conditional payments. Payment service providers should adapt the business logic for conditional digital euro payment transactions in accordance with the standards and application programming interfaces which the Eurosystem may adopt to facilitate such transactions.
Amendment 205 #
2023/0212(COD)
Proposal for a regulation
Recital 56
Recital 56
(56) To facilitate the use of digital euro and the provision of innovative services, the Eurosystem should support the provision ofdevelopment of innovation and solutions using conditional digital euro payment transactions where in demand and appropriate. First, some types of conditional payment services could be supported through detailed measures, rules and standards that could help payment service providers to develop and operate interoperable applications that execute conditional logic. That could include a set of technical tools such as application programming interfaces. Second, the Eurosystem could provide additional functionalities in the digital euro settlement infrastructure, necessary for the provision of conditional payment services to digital euro users. That could facilitate the reservation of funds in the settlement infrastructure for future execution of some conditional payments. Payment service providers should adapt the business logic for conditional digital euro payment transactions in accordance with the standards and application programming interfaces which the Eurosystem may adopt to facilitate such transactions.
Amendment 206 #
2023/0212(COD)
Proposal for a regulation
Recital 57
Recital 57
Amendment 206 #
2023/0212(COD)
Proposal for a regulation
Recital 57
Recital 57
Amendment 208 #
2023/0212(COD)
Proposal for a regulation
Recital 58
Recital 58
(58) Users should be able, if they so wish,might be invited to onboard and authorise payments with the digital euro by using the European Digital Identity Wallets. Payment service providers should therefore be obliged to accept the European Digital Identity Wallets for the verification of both prospective and existing customers’ identities, in line with Regulation (EU) [please insert reference – proposal for a Regulation for Anti-Money Laundering Regulation – COM/2021/421 final). To facilitate the opening of digital euro accounts across the Union, payment service providers should also be able to rely on qualified attestations provided by the European Digital Identity Wallets, including for the remote performance of customer due diligence. Payment service providers should also accept the use of European Digital Identity Wallets if the payer wishes to use the wallet for payment authorisation of digital euro payment transactions. Further, to facilitate offline proximity payments in digital euro, it should be possible to use the European Digital Identity Wallets for the storage of digital euros in the payment device.
Amendment 208 #
2023/0212(COD)
Proposal for a regulation
Recital 58
Recital 58
(58) Users should be able, if they so wish,might be invited to onboard and authorise payments with the digital euro by using the European Digital Identity Wallets. Payment service providers should therefore be obliged to accept the European Digital Identity Wallets for the verification of both prospective and existing customers’ identities, in line with Regulation (EU) [please insert reference – proposal for a Regulation for Anti-Money Laundering Regulation – COM/2021/421 final). To facilitate the opening of digital euro accounts across the Union, payment service providers should also be able to rely on qualified attestations provided by the European Digital Identity Wallets, including for the remote performance of customer due diligence. Payment service providers should also accept the use of European Digital Identity Wallets if the payer wishes to use the wallet for payment authorisation of digital euro payment transactions. Further, to facilitate offline proximity payments in digital euro, it should be possible to use the European Digital Identity Wallets for the storage of digital euros in the payment device.
Amendment 215 #
2023/0212(COD)
Proposal for a regulation
Recital 64
Recital 64
(64) To provide for instantaneous settlement, both online and offline digital euro transactions, including in the context of funding and defunding, and as waterfall and reverse waterfall functionalities, should be settled instantaneously, in a few seconds only, in normal circumstances. Given the existence of the instant payments system, the digital euro can easily be built on the rails of this system, at least until a more innovative solution involving blockchain can be deployed. The settlement of online digital euro payment transactions should be performed in the digital euro settlement infrastructure adopted by the Eurosystem. Online digital euro payment transactions should be settled in a matter of seconds as specified under the functional and technical requirements adopted by the European Central Bank. Final settlement of online digital euro payment transactions should be achieved at the moment of recording the digital euros concerned of the payer and the payee in the digital euro settlement infrastructure approved by the European Central Bank, irrespective of whether digital euros are recorded as holding balances or units of value, or of the technology used. The digital euro settlement infrastructure should seek to ensure adaptation to new technologies, including distributed ledger technology such as blockchain.
Amendment 215 #
2023/0212(COD)
Proposal for a regulation
Recital 64
Recital 64
(64) To provide for instantaneous settlement, both online and offline digital euro transactions, including in the context of funding and defunding, and as waterfall and reverse waterfall functionalities, should be settled instantaneously, in a few seconds only, in normal circumstances. Given the existence of the instant payments system, the digital euro can easily be built on the rails of this system, at least until a more innovative solution involving blockchain can be deployed. The settlement of online digital euro payment transactions should be performed in the digital euro settlement infrastructure adopted by the Eurosystem. Online digital euro payment transactions should be settled in a matter of seconds as specified under the functional and technical requirements adopted by the European Central Bank. Final settlement of online digital euro payment transactions should be achieved at the moment of recording the digital euros concerned of the payer and the payee in the digital euro settlement infrastructure approved by the European Central Bank, irrespective of whether digital euros are recorded as holding balances or units of value, or of the technology used. The digital euro settlement infrastructure should seek to ensure adaptation to new technologies, including distributed ledger technology such as blockchain.
Amendment 221 #
2023/0212(COD)
Proposal for a regulation
Recital 72
Recital 72
(72) Data protection by design and data protection by default should be embedded in all data processing systems developed and used within the framework of this Regulation. The processing of personal data should be subject to appropriate safeguards to protect the rights and freedoms of the data subject. The data should be stored in Europe. Those safeguards should ensure that technical and organisational measures are in place in particular to ensure respect for the data protection principles laid down in Regulation (EU) 2016/679 and Regulation (EU) 2018/1715, including data minimisation and purpose limitation.
Amendment 221 #
2023/0212(COD)
Proposal for a regulation
Recital 72
Recital 72
(72) Data protection by design and data protection by default should be embedded in all data processing systems developed and used within the framework of this Regulation. The processing of personal data should be subject to appropriate safeguards to protect the rights and freedoms of the data subject. The data should be stored in Europe. Those safeguards should ensure that technical and organisational measures are in place in particular to ensure respect for the data protection principles laid down in Regulation (EU) 2016/679 and Regulation (EU) 2018/1715, including data minimisation and purpose limitation.
Amendment 224 #
2023/0212(COD)
Proposal for a regulation
Recital 74
Recital 74
(74) Any processing of personal data to verify whether users are listed persons or entities pursuant to restrictive measures adopted in accordance with Article 215 TFEU should be in line with Regulation (EU) 2016/679 of the European Parliament and of the Council. Processing of the names and the payment account identifiers of natural persons is proportionate and necessary to ensure the compliance with restrictive measures adopted in accordance with Article 215 TFEU providing for asset freeze or prohibition of making funds or economic resources available. The digital euro should be in line with existing legislation, such as AMLR and the unshelling directive.
Amendment 224 #
2023/0212(COD)
Proposal for a regulation
Recital 74
Recital 74
(74) Any processing of personal data to verify whether users are listed persons or entities pursuant to restrictive measures adopted in accordance with Article 215 TFEU should be in line with Regulation (EU) 2016/679 of the European Parliament and of the Council. Processing of the names and the payment account identifiers of natural persons is proportionate and necessary to ensure the compliance with restrictive measures adopted in accordance with Article 215 TFEU providing for asset freeze or prohibition of making funds or economic resources available. The digital euro should be in line with existing legislation, such as AMLR and the unshelling directive.
Amendment 229 #
2023/0212(COD)
Proposal for a regulation
Recital 77
Recital 77
(77) For the purpose of enforcing the holding limits and ensuring the exceptional switching of digital euro payment accounts in emergency situations upon the request of the digital euro user, a single access point of digital euro user identifiers and the related digital euro holding limits is necessary to ensure the efficient functioning of the digital euro across the entire euro area, as digital euro users may hold digital euro payment accounts in different Member States. When establishing the single access point, the European Central Bank and national central banks should ensure that the processing of personal data is minimised to what is strictly necessary and that data protection by design and by default is embedded. The European Central Bank and national central banks should consider, where appropriate and to minimise the risk of data breaches, the use of decentralised data storage the use of decentralised data storage and other strategic measures to minimise the risk of data breaches.
Amendment 229 #
2023/0212(COD)
Proposal for a regulation
Recital 77
Recital 77
(77) For the purpose of enforcing the holding limits and ensuring the exceptional switching of digital euro payment accounts in emergency situations upon the request of the digital euro user, a single access point of digital euro user identifiers and the related digital euro holding limits is necessary to ensure the efficient functioning of the digital euro across the entire euro area, as digital euro users may hold digital euro payment accounts in different Member States. When establishing the single access point, the European Central Bank and national central banks should ensure that the processing of personal data is minimised to what is strictly necessary and that data protection by design and by default is embedded. The European Central Bank and national central banks should consider, where appropriate and to minimise the risk of data breaches, the use of decentralised data storage the use of decentralised data storage and other strategic measures to minimise the risk of data breaches.
Amendment 237 #
2023/0212(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 1
Article 2 – paragraph 1 – point 1
1. ‘digital euro’ means the digital form of the Eurozone’s single currency available to natural and legal persons;
Amendment 237 #
2023/0212(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 1
Article 2 – paragraph 1 – point 1
1. ‘digital euro’ means the digital form of the Eurozone’s single currency available to natural and legal persons;
Amendment 297 #
2023/0212(COD)
Proposal for a regulation
Article 9 – paragraph 1 – point a
Article 9 – paragraph 1 – point a
(a) where the payee is a an enterprise which employs fewer than 1250 persons or whose annual turnover or annual balance sheet total does not exceed EUR 250 million, or is a non-profit legal entity as defined in in Article 2, point (18), of Regulation (EU) 2021/695 of the European Parliament and of the Council44 , unless it accepts comparable digital means of payment; __________________ 44 Regulation (EU) 2021/695 of the European Parliament and of the Council of 28 April 2021 establishing Horizon Europe – the Framework Programme for Research and Innovation, laying down its rules for participation and dissemination, and repealing Regulations (EU) No 1290/2013 and (EU) No 1291/2013 (OJ L 170, 12.5.2021, p. 1).
Amendment 297 #
2023/0212(COD)
Proposal for a regulation
Article 9 – paragraph 1 – point a
Article 9 – paragraph 1 – point a
(a) where the payee is a an enterprise which employs fewer than 1250 persons or whose annual turnover or annual balance sheet total does not exceed EUR 250 million, or is a non-profit legal entity as defined in in Article 2, point (18), of Regulation (EU) 2021/695 of the European Parliament and of the Council44 , unless it accepts comparable digital means of payment; __________________ 44 Regulation (EU) 2021/695 of the European Parliament and of the Council of 28 April 2021 establishing Horizon Europe – the Framework Programme for Research and Innovation, laying down its rules for participation and dissemination, and repealing Regulations (EU) No 1290/2013 and (EU) No 1291/2013 (OJ L 170, 12.5.2021, p. 1).
Amendment 318 #
2023/0212(COD)
Proposal for a regulation
Article 13 – paragraph 3 – introductory part
Article 13 – paragraph 3 – introductory part
3. Payment service providers shall make available funding and defunding functionalities to their clients that are digital euro users:
Amendment 318 #
2023/0212(COD)
Proposal for a regulation
Article 13 – paragraph 3 – introductory part
Article 13 – paragraph 3 – introductory part
3. Payment service providers shall make available funding and defunding functionalities to their clients that are digital euro users:
Amendment 319 #
2023/0212(COD)
Proposal for a regulation
Article 13 – paragraph 3 – point b
Article 13 – paragraph 3 – point b
(b) when and where a payment service provider provides cash services where funding and defunding take place through euro banknotes and coins, subject to any limitations that the European Central Bank may adopt in accordance with Article 16(1) of this Regulation.
Amendment 319 #
2023/0212(COD)
Proposal for a regulation
Article 13 – paragraph 3 – point b
Article 13 – paragraph 3 – point b
(b) when and where a payment service provider provides cash services where funding and defunding take place through euro banknotes and coins, subject to any limitations that the European Central Bank may adopt in accordance with Article 16(1) of this Regulation.
Amendment 322 #
2023/0212(COD)
Proposal for a regulation
Article 13 – paragraph 3 – point b a (new)
Article 13 – paragraph 3 – point b a (new)
(ba) where cash is to be provided via an ATM, the requirement for funding and defunding shall be limited to euro banknotes.
Amendment 322 #
2023/0212(COD)
Proposal for a regulation
Article 13 – paragraph 3 – point b a (new)
Article 13 – paragraph 3 – point b a (new)
(ba) where cash is to be provided via an ATM, the requirement for funding and defunding shall be limited to euro banknotes.
Amendment 326 #
2023/0212(COD)
Proposal for a regulation
Article 13 – paragraph 4 – subparagraph 1 – point a
Article 13 – paragraph 4 – subparagraph 1 – point a
(a) to have their digital euros in excess of any limitations the European Central Bank may adopt in accordance with Article 16 automatically defunded to a non-digital euro payment account held at the same payment service provider, where an online digital euro payment transaction is received;
Amendment 326 #
2023/0212(COD)
Proposal for a regulation
Article 13 – paragraph 4 – subparagraph 1 – point a
Article 13 – paragraph 4 – subparagraph 1 – point a
(a) to have their digital euros in excess of any limitations the European Central Bank may adopt in accordance with Article 16 automatically defunded to a non-digital euro payment account held at the same payment service provider, where an online digital euro payment transaction is received;
Amendment 329 #
2023/0212(COD)
Proposal for a regulation
Article 13 – paragraph 4 – subparagraph 1 – point b
Article 13 – paragraph 4 – subparagraph 1 – point b
(b) to make an online digital euro payment transaction where the transaction amount exceeds their digital euro holdings from a non-digital euro payment account held at the same payment service provider.
Amendment 329 #
2023/0212(COD)
Proposal for a regulation
Article 13 – paragraph 4 – subparagraph 1 – point b
Article 13 – paragraph 4 – subparagraph 1 – point b
(b) to make an online digital euro payment transaction where the transaction amount exceeds their digital euro holdings from a non-digital euro payment account held at the same payment service provider.
Amendment 372 #
2023/0212(COD)
Proposal for a regulation
Article 15 – paragraph 1
Article 15 – paragraph 1
1. With a view to enabling natural and legal persons to access and use digital euro, to defining and implementing monetary policy and to contributing to the stability of the financial system, the use of the digital euro as a store of value mayshall be subject to limitsholding limits. These limits shall be aligned to the average ordinary daily spending of citizens while avoiding any potential risk for financial stability.
Amendment 372 #
2023/0212(COD)
Proposal for a regulation
Article 15 – paragraph 1
Article 15 – paragraph 1
1. With a view to enabling natural and legal persons to access and use digital euro, to defining and implementing monetary policy and to contributing to the stability of the financial system, the use of the digital euro as a store of value mayshall be subject to limitsholding limits. These limits shall be aligned to the average ordinary daily spending of citizens while avoiding any potential risk for financial stability.
Amendment 385 #
2023/0212(COD)
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
1. For the purpose of Article 15(1), the European Central Bank shall develop instruments to limit the use of the digital euro as a store of value and shall decide on their parameters and use, in accordance with the framework set out in this Article. PSPs providing account servicing payment services within the meaning of Directive 2015/2366 to natural and legal persons referred to in Article 12(1) shall apply these limits to digital euro payment accounts, together with the co-legislators and the Single Supervisory Mechanism shall define holding limits and develop potential instruments to limit the use of the digital euro as a store of value.
Amendment 385 #
2023/0212(COD)
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
1. For the purpose of Article 15(1), the European Central Bank shall develop instruments to limit the use of the digital euro as a store of value and shall decide on their parameters and use, in accordance with the framework set out in this Article. PSPs providing account servicing payment services within the meaning of Directive 2015/2366 to natural and legal persons referred to in Article 12(1) shall apply these limits to digital euro payment accounts, together with the co-legislators and the Single Supervisory Mechanism shall define holding limits and develop potential instruments to limit the use of the digital euro as a store of value.
Amendment 394 #
2023/0212(COD)
Proposal for a regulation
Article 16 – paragraph 1 a (new)
Article 16 – paragraph 1 a (new)
1a. The European Central Bank, with the involvement of relevant stakeholders, shall conduct a detailed impact assessment, drawing on bank level data through a Quantitative Impact Study (QIS), with the aim of providing a full picture of the consequences for credit institutions’ balance sheet and liquidity management of the introduction of a digital euro.
Amendment 394 #
2023/0212(COD)
Proposal for a regulation
Article 16 – paragraph 1 a (new)
Article 16 – paragraph 1 a (new)
1a. The European Central Bank, with the involvement of relevant stakeholders, shall conduct a detailed impact assessment, drawing on bank level data through a Quantitative Impact Study (QIS), with the aim of providing a full picture of the consequences for credit institutions’ balance sheet and liquidity management of the introduction of a digital euro.
Amendment 403 #
2023/0212(COD)
Proposal for a regulation
Article 16 – paragraph 2 – point c
Article 16 – paragraph 2 – point c
(c) respect the principle of proportionality. To this effect, it may be possible to calculate an appropriate holding limit per natural person based on averages of daily use and the holding of cash by natural persons.
Amendment 403 #
2023/0212(COD)
Proposal for a regulation
Article 16 – paragraph 2 – point c
Article 16 – paragraph 2 – point c
(c) respect the principle of proportionality. To this effect, it may be possible to calculate an appropriate holding limit per natural person based on averages of daily use and the holding of cash by natural persons.
Amendment 414 #
2023/0212(COD)
Proposal for a regulation
Article 16 – paragraph 5
Article 16 – paragraph 5
5. Visitors to the euro area as referred to in Article 13(1), point (c), and natural and legal persons as referred to in Article 13(1), points (b), (d) and (e), shall be subject to limits as regards the use of the euro as a store of value that are not higher than the ones effectively implemented in the euro area for natural and legal persons residing or established in Member States whose currency is the euro. The parameters and use of the instruments shall be applied in a non-discriminatory manner and uniformly across Member States whose currency is not the euro. When deciding on the use of the instruments in those Member States and setting the parameters, the European Central Bank shall consult national central banks of Member States whose currency is not the euro. PSPs may elect to charge visitors to the EU fees in order to use the digital euro.
Amendment 414 #
2023/0212(COD)
Proposal for a regulation
Article 16 – paragraph 5
Article 16 – paragraph 5
5. Visitors to the euro area as referred to in Article 13(1), point (c), and natural and legal persons as referred to in Article 13(1), points (b), (d) and (e), shall be subject to limits as regards the use of the euro as a store of value that are not higher than the ones effectively implemented in the euro area for natural and legal persons residing or established in Member States whose currency is the euro. The parameters and use of the instruments shall be applied in a non-discriminatory manner and uniformly across Member States whose currency is not the euro. When deciding on the use of the instruments in those Member States and setting the parameters, the European Central Bank shall consult national central banks of Member States whose currency is not the euro. PSPs may elect to charge visitors to the EU fees in order to use the digital euro.
Amendment 418 #
2023/0212(COD)
Proposal for a regulation
Article 16 – paragraph 6
Article 16 – paragraph 6
6. In case a digital euro user has multiple digital euro payment accounts, the digital euro user shall specify to the payment service providers at the moment of opening their account with which the digital euro payment accounts are held in order to determine how the individual holding limit is to be allocated between the different digital euro payment accounts.
Amendment 418 #
2023/0212(COD)
Proposal for a regulation
Article 16 – paragraph 6
Article 16 – paragraph 6
6. In case a digital euro user has multiple digital euro payment accounts, the digital euro user shall specify to the payment service providers at the moment of opening their account with which the digital euro payment accounts are held in order to determine how the individual holding limit is to be allocated between the different digital euro payment accounts.
Amendment 429 #
2023/0212(COD)
Proposal for a regulation
Article 16 – paragraph 8
Article 16 – paragraph 8
8. Within the framework of this Regulation, tThe digital euro shall not bear interest.
Amendment 429 #
2023/0212(COD)
Proposal for a regulation
Article 16 – paragraph 8
Article 16 – paragraph 8
8. Within the framework of this Regulation, tThe digital euro shall not bear interest.
Amendment 437 #
2023/0212(COD)
Proposal for a regulation
Article 17 – paragraph 1
Article 17 – paragraph 1
1. For the purpose of Article 15(2), without prejudice to any possible fees charged on other digital euro payment services, payment services providers shall not charge transactional fees to natural persons as referred to in Article 13(1), points (a), (b) and (c), for the provision of the basic digital euro payment services referred to in Annex 2.
Amendment 437 #
2023/0212(COD)
Proposal for a regulation
Article 17 – paragraph 1
Article 17 – paragraph 1
1. For the purpose of Article 15(2), without prejudice to any possible fees charged on other digital euro payment services, payment services providers shall not charge transactional fees to natural persons as referred to in Article 13(1), points (a), (b) and (c), for the provision of the basic digital euro payment services referred to in Annex 2.
Amendment 441 #
2023/0212(COD)
Proposal for a regulation
Article 17 – paragraph 2 – introductory part
Article 17 – paragraph 2 – introductory part
2. For the purpose of Article 15(2), any merchant service charge or inter-PSP fee in relation to digital euro payment transactions shall comply with the principle of proportionality. Any merchant service charge or inter-PSP fee shall not exceed the lowest of the following two amounts:relevant costs incurred by payment services providers for the provision of digital euro payments, including a reasonable margin of profit.
Amendment 441 #
2023/0212(COD)
Proposal for a regulation
Article 17 – paragraph 2 – introductory part
Article 17 – paragraph 2 – introductory part
2. For the purpose of Article 15(2), any merchant service charge or inter-PSP fee in relation to digital euro payment transactions shall comply with the principle of proportionality. Any merchant service charge or inter-PSP fee shall not exceed the lowest of the following two amounts:relevant costs incurred by payment services providers for the provision of digital euro payments, including a reasonable margin of profit.
Amendment 446 #
2023/0212(COD)
Proposal for a regulation
Article 17 – paragraph 2 – point a
Article 17 – paragraph 2 – point a
Amendment 446 #
2023/0212(COD)
Proposal for a regulation
Article 17 – paragraph 2 – point a
Article 17 – paragraph 2 – point a
Amendment 456 #
2023/0212(COD)
Proposal for a regulation
Article 17 – paragraph 2 – point b
Article 17 – paragraph 2 – point b
Amendment 456 #
2023/0212(COD)
Proposal for a regulation
Article 17 – paragraph 2 – point b
Article 17 – paragraph 2 – point b
Amendment 515 #
2023/0212(COD)
Proposal for a regulation
Article 22 – paragraph 2
Article 22 – paragraph 2
2. In their relationships with their payment services providers for the provision of digital euro payment services, digital euro users shall not be required to have or open non-digital euro payment accounts or accept other non-digital euro products. if they already hold a non-digital euro payment account with that payment service provider
Amendment 515 #
2023/0212(COD)
Proposal for a regulation
Article 22 – paragraph 2
Article 22 – paragraph 2
2. In their relationships with their payment services providers for the provision of digital euro payment services, digital euro users shall not be required to have or open non-digital euro payment accounts or accept other non-digital euro products. if they already hold a non-digital euro payment account with that payment service provider
Amendment 518 #
2023/0212(COD)
Proposal for a regulation
Article 22 – paragraph 5
Article 22 – paragraph 5
5. Payment service providers shall allow the use of digital euro payment account by more than one digital euro users.to a designated person with prior authorisation
Amendment 518 #
2023/0212(COD)
Proposal for a regulation
Article 22 – paragraph 5
Article 22 – paragraph 5
5. Payment service providers shall allow the use of digital euro payment account by more than one digital euro users.to a designated person with prior authorisation
Amendment 525 #
2023/0212(COD)
Proposal for a regulation
Article 24 – paragraph 1 – point a
Article 24 – paragraph 1 – point a
(a) adopt detailed measures, rules and standards in accordance with Article 5(2) that payment service providers can use to ensure interoperable conditional digital euro payment transactions, pending the approval of the co-legislatures ;
Amendment 525 #
2023/0212(COD)
Proposal for a regulation
Article 24 – paragraph 1 – point a
Article 24 – paragraph 1 – point a
(a) adopt detailed measures, rules and standards in accordance with Article 5(2) that payment service providers can use to ensure interoperable conditional digital euro payment transactions, pending the approval of the co-legislatures ;
Amendment 533 #
2023/0212(COD)
Proposal for a regulation
Article 26 – paragraph 1
Article 26 – paragraph 1
The European Central Bank shall seek to ensure to the extent possible the interoperability of standards governinguse and application of digital euro payment services with relevant standards governing private digital means of payment. The European Central Bank shall seek to enable, to the extent possible and where appropriate, private digital means of payment to use rules, standards and processes governing the digital euro payment services.
Amendment 533 #
2023/0212(COD)
Proposal for a regulation
Article 26 – paragraph 1
Article 26 – paragraph 1
The European Central Bank shall seek to ensure to the extent possible the interoperability of standards governinguse and application of digital euro payment services with relevant standards governing private digital means of payment. The European Central Bank shall seek to enable, to the extent possible and where appropriate, private digital means of payment to use rules, standards and processes governing the digital euro payment services.
Amendment 542 #
2023/0212(COD)
Proposal for a regulation
Article 27 – paragraph 3
Article 27 – paragraph 3
Amendment 542 #
2023/0212(COD)
Proposal for a regulation
Article 27 – paragraph 3
Article 27 – paragraph 3
Amendment 616 #
2023/0212(COD)
Proposal for a regulation
Article 35 – paragraph 4
Article 35 – paragraph 4
4. Personal data processed for tasks referred to in paragraph 1 shall be supported by appropriate technical and organisational measures including state-of- the-art security and privacy-preserving measures. This shall include the clear segregation of personal data to ensure that the European Central Bank and the national central banks cannot directly identify individual digital euro users. All data related to the digital euro should be stored in Europe.
Amendment 616 #
2023/0212(COD)
Proposal for a regulation
Article 35 – paragraph 4
Article 35 – paragraph 4
4. Personal data processed for tasks referred to in paragraph 1 shall be supported by appropriate technical and organisational measures including state-of- the-art security and privacy-preserving measures. This shall include the clear segregation of personal data to ensure that the European Central Bank and the national central banks cannot directly identify individual digital euro users. All data related to the digital euro should be stored in Europe.
Amendment 26 #
2023/0208(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) The acceptance of euro banknotes and coins tendered as means of payment can exceptionally be refused if the refusal is made in good faith, based on legitimate grounds and concrete circumstances, which are beyond the control of the payee, and ifbased on preferential or circumstantial grounds, as well as in cases where the refusal is proportionate. For example, the refusal can be justified if for the settlement of a monetary debt the tendered euro banknote is disproportionate compared to the amount owed to the payee, such as the tendering of a two hundred euro banknote for the settlement of a debt of less than five euro. In accordance with Council Regulation 974/98, except for the issuing authority and for those persons specifically designated by the national legislation of the issuing Member State, no party should be obliged to accept more than 50 coins in any single payment.
Amendment 28 #
2023/0208(COD)
Proposal for a regulation
Recital 6
Recital 6
Amendment 32 #
2023/0208(COD)
Proposal for a regulation
Recital 7
Recital 7
(7) With a view to an effective implementation of their obligation to ensure sufficient and effective access to cash, Member States should regularly monitor the level of access to cash throughout their territory, in all their different regions, including urban and non- urban areas, on the basis of common indicators which allow for comparisons between the Member States. Common indicators could include factors that affect access to cash, such as density of cash access points in relation to population, withdrawal and deposit conditions, including fees, the existence of different networks with different access modalities for customers, urban-rural and socio- economic variations, and access difficulties for certain population groups. If in the light of their assessment access to cash is deemed sufficient and effective on their territory, Member States would not need to adopt specific measures in relation to their respective obligation. However, they would need to continue monitoring the situations. If a Member State concludes that access to cash is not sufficient and effective in all or part of its territory, or is at risk of deteriorating in the absence of action, appropriate remedial measures shouldmight be taken to remedy the situation, such as through geographic access requirements on payment service providers providing cash withdrawal services to maintain cash services at a sufficient number of their branch offices where they conduct business, or through an appointed agent for online only credit institutions, or maintainthrough the maintenance of a sufficient density of automated teller machines (ATMs) where they conduct business while taking into account a good geographic spread in relation to population, also taking into account possible pooling of ATMs. Other remedial measures could include recommendations addressed to non-credit institutions, such as independent ATM operators, retailers or post offices, encouraging to complement the cash services of banks.
Amendment 40 #
2023/0208(COD)
Proposal for a regulation
Recital 8
Recital 8
(8) The Commission should be empowered to adoptmight propose implementing acts on a set of common indicators of general application in the euro area, which would allow the Member States to effectively monitor and assess the acceptance of payments in cash and access to cash throughout their territory, in all their different regions, including urban and non- urban areas. In view of the preparation of such implementing acts, the Commission should consult the European Central BankThe Commission should consult the European Central Bank before proposing implementing acts related to the legal tender of euro banknotes and coins.
Amendment 43 #
2023/0208(COD)
Proposal for a regulation
Recital 9
Recital 9
Amendment 45 #
2023/0208(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) In accordance with the principle of sincere cooperation, the Commission, the European Central Bank and the designated national competent authorities with the required powers as regards acceptance of payments in cash and access to cash, and over the cash-related market activities of the cash industry should closely collaborate on issues related to acceptance of payments in cash and access to cash. A regular dialogue among these institutions and authorities, based notably on the annual reports of Member States to the Commission and the European Central Bank, should aim at identifying cases of widespread ex ante unilateral exclusions of cash and inadequate access to cash in specific national territories or regions. It would also aim at designing and adopting remedial measures that Member States should adopt as a means to comply with their obligations to ensure acceptance of cashn the interest of citizens' convenience and innovation, possible alternatives to cash might be highlighted in these annual reports, with the Commission and the European Central Bank endeavouring to explore the practical options that best work for the single market at andy sufficient and effective access to cashpecific moment in time.
Amendment 48 #
2023/0208(COD)
Proposal for a regulation
Recital 11
Recital 11
Amendment 56 #
2023/0208(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) This Regulation ensures full respect for the fundamental right of freedom to conduct a business and the fundamental right of consumer protection enshrined in Article 16 and 38 of the Charter of Fundamental Rights of the European Union respectively. This Regulation concerns the preferred payment method of the currency that has legal tender status, which citizens legitimately may choose to settle their debts. Thus, the proposed measures in this Regulation only concern the way enterprises receive payments. The, which represents an indirect and limited interference with those fundamental rights is therefore indirect and very limited. It is. This might be justified by the general interest objective of ensuring the effectiveness of legal tender, and is proportionate to this objectives long as it remains proportionate and in the interest of the Member States.
Amendment 69 #
2023/0208(COD)
Proposal for a regulation
Article 5 – paragraph 1 – subparagraph 1 – point a
Article 5 – paragraph 1 – subparagraph 1 – point a
(a) where a refusal is made in good faith and where such refusal is based on legitimate and temporary grounds in line with the principle of proportionality in view of concrete circumstances beyond the control of the payee;
Amendment 93 #
2023/0208(COD)
Proposal for a regulation
Article 6
Article 6
Amendment 104 #
2023/0208(COD)
Proposal for a regulation
Article 7 – paragraph 3
Article 7 – paragraph 3
3. If a Member State considers that the level of acceptance of payments in cash in their territory or parts thereof undermincircumnavigates mandatory acceptance of euro banknotes and coins, it shall set out the remedial measures it commits to take in accordance with Article 9(4).
Amendment 124 #
2023/0208(COD)
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
2. For the purposes of Articles 7 and 8, the Commission shall adopt implementing acts of general application on a set of common indicators Member States shall use to monitor and assess the acceptance of payments in cash and access to cash supply in line with demand throughout their territory, in all their different regions, including urban and non- urban areas. Those implementing acts shall be adopted [within X months after the entry into force of this Regulation] in accordance with the advisory procedure referred to in Article 11. When preparing those implementing acts, the Commission shall consult the European Central Bank.
Amendment 130 #
2023/0208(COD)
Proposal for a regulation
Article 9 – paragraph 4
Article 9 – paragraph 4
4. If a Member State considers that the level of acceptance of payments in cash undermincircumnavigates mandatory acceptance of euro banknotes and coins or that sufficient and effective access to cash is not ensured, it shall indicate in its annual report the remedial measures it commits to take in order to comply with the obligations set out in Articles 7 and 8. The remedial measures shall enter into force without undue delay.
Amendment 142 #
2023/0208(COD)
Proposal for a regulation
Article 10 – paragraph 6
Article 10 – paragraph 6
6. A delegated act adopted pursuant to Article 6 shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of one month of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. The Commission shall prepare any implementing acts after consultation with the ECB. That period shall be extended by one month at the initiative of the European Parliament or of the Council.
Amendment 176 #
2023/0208(COD)
Proposal for a regulation
Article 15 – paragraph 2
Article 15 – paragraph 2
2. Payees of a monetary debt denominated in euro shall accept payments in euro banknotes and coins according to the provisions of this Regulation, irrespective of whether they accept payments in digital euro in accordance with Regulation [XXX on the establishment of the digital euro]. Where the acceptance of euro banknotes and coins and the digital euro is mandatory in accordance with the provisions of this Regulation and Regulation (XXX on the establishment on the Digital Euro), the payer is entitled to choose the means of payment.
Amendment 450 #
2023/0205(COD)
Proposal for a regulation
Article 9 – paragraph 1 a (new)
Article 9 – paragraph 1 a (new)
1 a. The implementation of a financial data access scheme shall be structured as follows: (a) Within 6 months from the entry into force of this Regulation, members shall agree on the general rules applicable to a financial data access scheme in accordance with Article 10(1)(a)-(f) and Article 10(1)(i)-(j) (‘development phase’). (b) Within 18 months from the entry into force of this Regulation, members shall agree on common standards and a model to determine compensation in accordance with the requirements laid down in Article 10(1)(g) and Article 10(1)(h).Members shall also notify a financial data access scheme in accordance with Article 10(4) (‘implementation phase’). (c) Within 24 months from the entry into force of this Regulation, members shall ensure that all elements of a financial data access scheme are fully operational by the time this Regulation applies in its entirety.
Amendment 491 #
2023/0205(COD)
Proposal for a regulation
Article 10 – paragraph 3
Article 10 – paragraph 3
3. A data holder shall communicate to the competent authority of the Member State of its establishment the financial data sharingaccess schemes it is part of, within one month of joining a scheme. The competent authority of the Member State shall communicate this notification to the EBA, ESMA or EIOPA as applicable, based on their respective competences.
Amendment 492 #
2023/0205(COD)
Proposal for a regulation
Article 10 – paragraph 4
Article 10 – paragraph 4
4. A financial data sharingaccess scheme set up in accordance with this Article shall be notified to the competent authority of establishment of the three most significant data holders which are members of that scheme at the time of establishment of the scheme. Where the three most significant data holders are established in different Member States, or where there is more than one competent authority in the Member State of establishment of the three most significant data holders, the scheme shall be notified to all of these authorities which shall agree among themselves which authoritydirectly to EBA, ESMA or EIOPA based on their respective competences, which shall carry out the assessment referred to in paragraph 6.
Amendment 495 #
2023/0205(COD)
Proposal for a regulation
Article 10 – paragraph 6 – subparagraph 1
Article 10 – paragraph 6 – subparagraph 1
Within 1 month of receipt of the notification pursuant to paragraph 4, the competent authorityEBA, ESMA or EIOPA shall assess whether the financial data sharingaccess scheme’s governance modalities and characteristics are in compliance with paragraph 1. When assessing the compliance of the financial data sharingaccess scheme with paragraph 1, the competent authorityEuropean Supervisory Authority in charge of the assessment may consult the other competent aEuropean Supervisory Authorities.
Amendment 498 #
2023/0205(COD)
Proposal for a regulation
Article 10 – paragraph 6 – subparagraph 2
Article 10 – paragraph 6 – subparagraph 2
Upon completion of its assessment, the competent authority shall inform EBA of a notifiedEBA, ESMA or EIOPA shall inform the members of a financial data sharingaccess scheme that satiswhether the scheme fulfiels the provisions of paragraph 1. Arequirements set out in paragraph 1. After a positive assessment, a scheme notified to EBA, ESMA or EIOPA in accordance with this paragraph shall be recognised in all the Member States for the purpose of accessing data pursuant to Article 5(1) and shall not require further notification in any other Member State.
Amendment 548 #
2023/0205(COD)
Proposal for a regulation
Article 18 – paragraph 1 – subparagraph 1 – point c – point iii
Article 18 – paragraph 1 – subparagraph 1 – point c – point iii
(iii) where appropriate, to order domain registries or registrars to delete a fully qualified domain name and to allow the competent authority concerned to record such deletiongister it.
Amendment 137 #
2023/0156(COD)
Proposal for a regulation
Recital 48
Recital 48
(48) Applying the standard rules for duty calculation in e-commerce transactions would, in many cases, result in a disproportionate administrative burden both for the customs administrations and economic operators in particular in respect of the collection of revenues. In the interest of developing a robust and effective fiscal and customs treatment for goods imported from third countries via e-commerce transactions (‘distance sales of imported goods’), Union legislation is to be amended in order to removincrease the threshold under which goods of negligible value not exceeding EUR 15800 per consignment are exempted from customs duties at import in accordance with Council Regulation (EC) No 1186/200953 , and to introduce a simplified tariff treatment both for business-to-business and for distance sales of imported goods from third countries in accordance with Council Regulation (EEC) No 2658/8754 (Combined Nomenclature). In light of these proposed amendments, certain rules of the Code on tariff classification, origin and customs value should be amended to provide for the simplifications applicable on a voluntary basis by the deemed importer when determining the customs duty in a business-to-consumer transaction qualifying as distance sales for VAT purposes. The simplifications should consist in the possibility to calculate the customs duty due by applying one of the new bucket tariffs in the Combined Nomenclature to a value calculated in a simpler way. Under the simplified rules for business-to-consumer e-commerce transactions, the net purchase price without VAT but including the total transport costs until the final destination of the product should be considered as the customs value and no origin should be required. However, if the deemed importer wishes to benefit from preferential tariff rates by proving the originating status of the goods, that person can do so by applying the standard procedures. _________________ 53 Council Regulation (EC) No 1186/2009 of 16 November 2009 setting up a Community system of reliefs from customs duty (OJ L 324, 10.12.2009, p. 23). 54 Council Regulation (EEC) No 2658/87 of 23 July 1987 on the tariff and statistical nomenclature and on the Common Customs Tariff (OJ L 256, 7.9.1987, p. 1).
Amendment 137 #
2023/0156(COD)
Proposal for a regulation
Recital 48
Recital 48
(48) Applying the standard rules for duty calculation in e-commerce transactions would, in many cases, result in a disproportionate administrative burden both for the customs administrations and economic operators in particular in respect of the collection of revenues. In the interest of developing a robust and effective fiscal and customs treatment for goods imported from third countries via e-commerce transactions (‘distance sales of imported goods’), Union legislation is to be amended in order to removincrease the threshold under which goods of negligible value not exceeding EUR 15800 per consignment are exempted from customs duties at import in accordance with Council Regulation (EC) No 1186/200953 , and to introduce a simplified tariff treatment both for business-to-business and for distance sales of imported goods from third countries in accordance with Council Regulation (EEC) No 2658/8754 (Combined Nomenclature). In light of these proposed amendments, certain rules of the Code on tariff classification, origin and customs value should be amended to provide for the simplifications applicable on a voluntary basis by the deemed importer when determining the customs duty in a business-to-consumer transaction qualifying as distance sales for VAT purposes. The simplifications should consist in the possibility to calculate the customs duty due by applying one of the new bucket tariffs in the Combined Nomenclature to a value calculated in a simpler way. Under the simplified rules for business-to-consumer e-commerce transactions, the net purchase price without VAT but including the total transport costs until the final destination of the product should be considered as the customs value and no origin should be required. However, if the deemed importer wishes to benefit from preferential tariff rates by proving the originating status of the goods, that person can do so by applying the standard procedures. _________________ 53 Council Regulation (EC) No 1186/2009 of 16 November 2009 setting up a Community system of reliefs from customs duty (OJ L 324, 10.12.2009, p. 23). 54 Council Regulation (EEC) No 2658/87 of 23 July 1987 on the tariff and statistical nomenclature and on the Common Customs Tariff (OJ L 256, 7.9.1987, p. 1).
Amendment 152 #
2023/0156(COD)
Proposal for a regulation
Recital 73
Recital 73
(73) The provisions referring to the EU Customs Authority, except Article 238, should apply from 1 January 2028. Until that date, the EU Customs Authority should perform its tasks using the existing electronic systems for exchange of customs information developed by the Commission. The provisions on the simplified tariff treatment for distance sales and deemed importer should apply from 1 January 2028.
Amendment 152 #
2023/0156(COD)
Proposal for a regulation
Recital 73
Recital 73
(73) The provisions referring to the EU Customs Authority, except Article 238, should apply from 1 January 2028. Until that date, the EU Customs Authority should perform its tasks using the existing electronic systems for exchange of customs information developed by the Commission. The provisions on the simplified tariff treatment for distance sales and deemed importer should apply from 1 January 2028.
Amendment 154 #
2023/0156(COD)
Proposal for a regulation
Recital 74 a (new)
Recital 74 a (new)
(74 a) In the interests of transparency, interested parties including customs intermediaries, should be given observer status within an advisory board that shall be established and consulted by the Management Board of the EU Customs Authority;
Amendment 154 #
2023/0156(COD)
Proposal for a regulation
Recital 74 a (new)
Recital 74 a (new)
(74 a) In the interests of transparency, interested parties including customs intermediaries, should be given observer status within an advisory board that shall be established and consulted by the Management Board of the EU Customs Authority;
Amendment 160 #
2023/0156(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point e
Article 2 – paragraph 2 – point e
(e) supporting legitimate business activity, by maintaining a proper balance between customs controls and facilitation of legitimate trade and simplifying customs processes and procedures. through robust real –time risk analysis enabled by the EU Customs Data Hub artificial intelligence capabilities as defined in Article 29 (1) (d);
Amendment 160 #
2023/0156(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point e
Article 2 – paragraph 2 – point e
(e) supporting legitimate business activity, by maintaining a proper balance between customs controls and facilitation of legitimate trade and simplifying customs processes and procedures. through robust real –time risk analysis enabled by the EU Customs Data Hub artificial intelligence capabilities as defined in Article 29 (1) (d);
Amendment 166 #
2023/0156(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 56 a (new)
Article 5 – paragraph 1 – point 56 a (new)
(56 a) 'simplified tariff treatment for business-to-business' means the extension to business-to-business imports of the simplified tariff treatment for distance sales set out in Article 1, paragraphs 4 and 5, and Part One, Section II, point G of Annex I to Regulation (EEC) No 2658/87;
Amendment 166 #
2023/0156(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 56 a (new)
Article 5 – paragraph 1 – point 56 a (new)
(56 a) 'simplified tariff treatment for business-to-business' means the extension to business-to-business imports of the simplified tariff treatment for distance sales set out in Article 1, paragraphs 4 and 5, and Part One, Section II, point G of Annex I to Regulation (EEC) No 2658/87;
Amendment 169 #
2023/0156(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 64 a (new)
Article 5 – paragraph 1 – point 64 a (new)
(64 a) (65) (new) “not at-risk shipment” means a shipment with no customs risk as assessed by the Data Hub, and being attributed the green color code.
Amendment 169 #
2023/0156(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 64 a (new)
Article 5 – paragraph 1 – point 64 a (new)
(64 a) (65) (new) “not at-risk shipment” means a shipment with no customs risk as assessed by the Data Hub, and being attributed the green color code.
Amendment 170 #
2023/0156(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 64 b (new)
Article 5 – paragraph 1 – point 64 b (new)
(64 b) (66) (new) “shipment at risk – means a suspected incompliant shipment to be assessed before release in the internal market” means a shipment to be segregated and examined by national customs authorities upon arrival at destination and being attributed the orange color.
Amendment 170 #
2023/0156(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 64 b (new)
Article 5 – paragraph 1 – point 64 b (new)
(64 b) (66) (new) “shipment at risk – means a suspected incompliant shipment to be assessed before release in the internal market” means a shipment to be segregated and examined by national customs authorities upon arrival at destination and being attributed the orange color.
Amendment 172 #
2023/0156(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 64 c (new)
Article 5 – paragraph 1 – point 64 c (new)
(64 c) (67) (new) “incompliant shipment” means a shipment incompliant with EU rules, to be denied for pick up at origin and/or denied for release in the internal market and being attributed the red color.
Amendment 172 #
2023/0156(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 64 c (new)
Article 5 – paragraph 1 – point 64 c (new)
(64 c) (67) (new) “incompliant shipment” means a shipment incompliant with EU rules, to be denied for pick up at origin and/or denied for release in the internal market and being attributed the red color.
Amendment 180 #
2023/0156(COD)
Proposal for a regulation
Article 25 – paragraph 1
Article 25 – paragraph 1
1. An importer or exporter,economic operator who is resident or registered in the customs territory of the Union, meets the criteria set out in paragraph 3 and has conducted regular customs operations in the course of that person’s business for at least 3 years, may apply for the status of Trust and Check trader to the customs authority of the Member State where that person is established.
Amendment 180 #
2023/0156(COD)
Proposal for a regulation
Article 25 – paragraph 1
Article 25 – paragraph 1
1. An importer or exporter,economic operator who is resident or registered in the customs territory of the Union, meets the criteria set out in paragraph 3 and has conducted regular customs operations in the course of that person’s business for at least 3 years, may apply for the status of Trust and Check trader to the customs authority of the Member State where that person is established.
Amendment 181 #
2023/0156(COD)
Proposal for a regulation
Article 25 – paragraph 2
Article 25 – paragraph 2
2. The customs authorities shall grant the status following consultation with other authorities, if necessary, and after having hareceived and accssess toed the relevant data of the applicant for the last 3 years in order to assess compliance with the criteria in paragraph 3.
Amendment 181 #
2023/0156(COD)
Proposal for a regulation
Article 25 – paragraph 2
Article 25 – paragraph 2
2. The customs authorities shall grant the status following consultation with other authorities, if necessary, and after having hareceived and accssess toed the relevant data of the applicant for the last 3 years in order to assess compliance with the criteria in paragraph 3.
Amendment 184 #
2023/0156(COD)
Proposal for a regulation
Article 25 – paragraph 3 – point f – introductory part
Article 25 – paragraph 3 – point f – introductory part
(f) having an electronic system providing or making availablesending to the customs authorities real-time all data on the movement of the goods and the compliance of the person referred to in paragraph 1 with all requirements applicable on those goods, including relating to safety and security and including where relevant sharing in the EU Customs Data Hub:
Amendment 184 #
2023/0156(COD)
Proposal for a regulation
Article 25 – paragraph 3 – point f – introductory part
Article 25 – paragraph 3 – point f – introductory part
(f) having an electronic system providing or making availablesending to the customs authorities real-time all data on the movement of the goods and the compliance of the person referred to in paragraph 1 with all requirements applicable on those goods, including relating to safety and security and including where relevant sharing in the EU Customs Data Hub:
Amendment 191 #
2023/0156(COD)
Proposal for a regulation
Article 26 – paragraph 3 – point 1 (new)
Article 26 – paragraph 3 – point 1 (new)
(1) 4. The Trust and Check Trader and Customs Authorized Economic Operators Customs Simplification status shall remain available at all times, making available two alternative trusted trader options.
Amendment 191 #
2023/0156(COD)
Proposal for a regulation
Article 26 – paragraph 3 – point 1 (new)
Article 26 – paragraph 3 – point 1 (new)
(1) 4. The Trust and Check Trader and Customs Authorized Economic Operators Customs Simplification status shall remain available at all times, making available two alternative trusted trader options.
Amendment 192 #
2023/0156(COD)
Proposal for a regulation
Article 27 – paragraph 1 – subparagraph 3
Article 27 – paragraph 1 – subparagraph 3
An indirect customs representative acting in its own name but on behalf of an importer or an exporter shall be considered the importer or the exporter for the purposes of Articles 20 and 22, respectively, with the exception of the obligations in Article 20(1)c and Article 22(1)c.
Amendment 192 #
2023/0156(COD)
Proposal for a regulation
Article 27 – paragraph 1 – subparagraph 3
Article 27 – paragraph 1 – subparagraph 3
An indirect customs representative acting in its own name but on behalf of an importer or an exporter shall be considered the importer or the exporter for the purposes of Articles 20 and 22, respectively, with the exception of the obligations in Article 20(1)c and Article 22(1)c.
Amendment 206 #
2023/0156(COD)
Proposal for a regulation
Article 31 – paragraph 3 – subparagraph 1 (new)
Article 31 – paragraph 3 – subparagraph 1 (new)
(d) to perform robust real-time risk analysis to minimise the responsabilities and liability of legitimate operators;
Amendment 206 #
2023/0156(COD)
Proposal for a regulation
Article 31 – paragraph 3 – subparagraph 1 (new)
Article 31 – paragraph 3 – subparagraph 1 (new)
(d) to perform robust real-time risk analysis to minimise the responsabilities and liability of legitimate operators;
Amendment 225 #
2023/0156(COD)
Proposal for a regulation
Article 86 – paragraph 5
Article 86 – paragraph 5
5. Non-Union goods in temporary storage shall be placed under a customs procedure no later than 3 days after the notification of their arrival or no later than 6 days after the notification of their arrival in the case of an authorised consignee as referred to in Article 116(4), point (b)90 days following their presentation to customs, unless the customs authorities require the goods to be presented. In exceptional cases, that time limit may be extended.
Amendment 225 #
2023/0156(COD)
Proposal for a regulation
Article 86 – paragraph 5
Article 86 – paragraph 5
5. Non-Union goods in temporary storage shall be placed under a customs procedure no later than 3 days after the notification of their arrival or no later than 6 days after the notification of their arrival in the case of an authorised consignee as referred to in Article 116(4), point (b)90 days following their presentation to customs, unless the customs authorities require the goods to be presented. In exceptional cases, that time limit may be extended.
Amendment 227 #
2023/0156(COD)
Proposal for a regulation
Article 149 – paragraph 4
Article 149 – paragraph 4
4. Where the importer has opted to apply the simplified tariff treatment for distance sales as referred to in Article 156(2), the customs authorities shall not require the importer to prove the origin of the goods.
Amendment 227 #
2023/0156(COD)
Proposal for a regulation
Article 149 – paragraph 4
Article 149 – paragraph 4
4. Where the importer has opted to apply the simplified tariff treatment for distance sales as referred to in Article 156(2), the customs authorities shall not require the importer to prove the origin of the goods.
Amendment 228 #
2023/0156(COD)
Proposal for a regulation
Article 150 – paragraph 10
Article 150 – paragraph 10
10. Where the importer has opted to apply the simplified tariff treatment for distance sales, the importer may not benefit from the measures referred to in Article 145(2), points (d) and (e), or from non-tariff preferential measures.
Amendment 228 #
2023/0156(COD)
Proposal for a regulation
Article 150 – paragraph 10
Article 150 – paragraph 10
10. Where the importer has opted to apply the simplified tariff treatment for distance sales, the importer may not benefit from the measures referred to in Article 145(2), points (d) and (e), or from non-tariff preferential measures.
Amendment 230 #
2023/0156(COD)
Proposal for a regulation
Article 156 – paragraph 2
Article 156 – paragraph 2
2. Where the importer has opted to apply the simplified tariff treatment for distance sales, Article 155(1), point (a), shall not apply and both the costs of transport of the imported goods up to the place where goods are brought into the customs territory of the Union and the costs of transport after their entry into that territory, shall be included in the customs value.
Amendment 230 #
2023/0156(COD)
Proposal for a regulation
Article 156 – paragraph 2
Article 156 – paragraph 2
2. Where the importer has opted to apply the simplified tariff treatment for distance sales, Article 155(1), point (a), shall not apply and both the costs of transport of the imported goods up to the place where goods are brought into the customs territory of the Union and the costs of transport after their entry into that territory, shall be included in the customs value.
Amendment 232 #
2023/0156(COD)
Proposal for a regulation
Article 207 – paragraph 2 – point d a (new)
Article 207 – paragraph 2 – point d a (new)
(d a) (e) The EU Customs Authority shall actively contribute to the effective performance by customs authorities of their mission to support legitimate business activity, by maintaining a proper balance between customs controls, the facilitation of legitimate trade and the simplification of customs processes and procedures, as defined in article 2(e).In this aim, the EU Customs Authority shall be responsible for ensuring: (i) the security and cyber resilience of the EU Customs Data Hub as detailed in Article 29 (1); (ii) robust risk, economic and data analysis enabled by the EU Customs Data Hub capabilities, including artificial intelligence as defined in Article 29 (1)(d); (iii) the provision to trusted traders, including customs agents and/or transport operators, of real-time risk analysis data made available through the EU Customs Data Hub and categorized with a color code, as follows: § Green for “shipment not at risk” as defined in Article 5(67); § Orange for “shipment at risk to be assessed before release in the internal market”, as defined in Article 5 (68); § Red for “incompliant shipment” to be denied for pick up at origin as defined in Article 5 (69); Such use of color codes shall be focused on preventing at the earliest stage possible the entry into the Union’s Internal Market of suspected or confirmed incompliant shipments.The color code technical arrangements shall be detailed by way of an implementing act. (iv) the avoidance of the duplication of data requirements on economic operators; (v) the minimization of the administrative burden and responsibilities of legitimate operators established in the Union, particularly as it relates to non-financial data reporting, including through measures providing for the direct submission of non-financial data requirements by importers and exporters at origin, and (vi) the issuance on a yearly basis of recommendations to improve customs facilitation and to ensure a fair and balanced level of liability for legitimate operators established in the territory of the Union;
Amendment 232 #
2023/0156(COD)
Proposal for a regulation
Article 207 – paragraph 2 – point d a (new)
Article 207 – paragraph 2 – point d a (new)
(d a) (e) The EU Customs Authority shall actively contribute to the effective performance by customs authorities of their mission to support legitimate business activity, by maintaining a proper balance between customs controls, the facilitation of legitimate trade and the simplification of customs processes and procedures, as defined in article 2(e).In this aim, the EU Customs Authority shall be responsible for ensuring: (i) the security and cyber resilience of the EU Customs Data Hub as detailed in Article 29 (1); (ii) robust risk, economic and data analysis enabled by the EU Customs Data Hub capabilities, including artificial intelligence as defined in Article 29 (1)(d); (iii) the provision to trusted traders, including customs agents and/or transport operators, of real-time risk analysis data made available through the EU Customs Data Hub and categorized with a color code, as follows: § Green for “shipment not at risk” as defined in Article 5(67); § Orange for “shipment at risk to be assessed before release in the internal market”, as defined in Article 5 (68); § Red for “incompliant shipment” to be denied for pick up at origin as defined in Article 5 (69); Such use of color codes shall be focused on preventing at the earliest stage possible the entry into the Union’s Internal Market of suspected or confirmed incompliant shipments.The color code technical arrangements shall be detailed by way of an implementing act. (iv) the avoidance of the duplication of data requirements on economic operators; (v) the minimization of the administrative burden and responsibilities of legitimate operators established in the Union, particularly as it relates to non-financial data reporting, including through measures providing for the direct submission of non-financial data requirements by importers and exporters at origin, and (vi) the issuance on a yearly basis of recommendations to improve customs facilitation and to ensure a fair and balanced level of liability for legitimate operators established in the territory of the Union;
Amendment 238 #
2023/0156(COD)
Proposal for a regulation
Article 211 – paragraph 1 – subparagraph 1 (new)
Article 211 – paragraph 1 – subparagraph 1 (new)
(e) an advisory body who shall exercise the functions set out in Article 212 (bis);
Amendment 238 #
2023/0156(COD)
Proposal for a regulation
Article 211 – paragraph 1 – subparagraph 1 (new)
Article 211 – paragraph 1 – subparagraph 1 (new)
(e) an advisory body who shall exercise the functions set out in Article 212 (bis);
Amendment 244 #
2023/0156(COD)
Proposal for a regulation
Article 212 – paragraph 5 – subparagraph 1 (new)
Article 212 – paragraph 5 – subparagraph 1 (new)
6. The advisory body referred to in Article 215- 1 (w) shall appoint four of its members to participate with observer status in the Management Board. They shall represent, as broadly as possible, the different views represented in the advisory body.
Amendment 244 #
2023/0156(COD)
Proposal for a regulation
Article 212 – paragraph 5 – subparagraph 1 (new)
Article 212 – paragraph 5 – subparagraph 1 (new)
6. The advisory body referred to in Article 215- 1 (w) shall appoint four of its members to participate with observer status in the Management Board. They shall represent, as broadly as possible, the different views represented in the advisory body.
Amendment 247 #
2023/0156(COD)
Proposal for a regulation
Article 214 – paragraph 4
Article 214 – paragraph 4
4. The Management Board mayshall invite any person whose opinion may be of interest to atrepresentatives of the industry designatend its meetings as an observer.by the advisory body as defined in Article 215-1-(w);
Amendment 247 #
2023/0156(COD)
Proposal for a regulation
Article 214 – paragraph 4
Article 214 – paragraph 4
4. The Management Board mayshall invite any person whose opinion may be of interest to atrepresentatives of the industry designatend its meetings as an observer.by the advisory body as defined in Article 215-1-(w);
Amendment 249 #
2023/0156(COD)
Proposal for a regulation
Article 215 – paragraph 1 – subparagraph 1 (new)
Article 215 – paragraph 1 – subparagraph 1 (new)
(w) The Management Board shall establish an advisory body representing the full range of interested parties affected by the work of the EU Customs Authority established in the Union, which it shall consult prior to making decisions. These interested parties shall include customs agents established in the EU. The Management Board shall not, in any case, be bound by the opinion of the advisory body;
Amendment 249 #
2023/0156(COD)
Proposal for a regulation
Article 215 – paragraph 1 – subparagraph 1 (new)
Article 215 – paragraph 1 – subparagraph 1 (new)
(w) The Management Board shall establish an advisory body representing the full range of interested parties affected by the work of the EU Customs Authority established in the Union, which it shall consult prior to making decisions. These interested parties shall include customs agents established in the EU. The Management Board shall not, in any case, be bound by the opinion of the advisory body;
Amendment 43 #
2023/0077(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Regulation (EU) 2019/943
Article 9
Article 9
[...] d e [...] l e t e d
Amendment 24 #
2023/0076(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a
Article 1 – paragraph 1 – point 1 – point a
Regulation (EU) No 1227/2011
Article 1 – paragraph 2
Article 1 – paragraph 2
2. This Regulation applies to trading in wholesale energy products. This Regulation is without prejudice to the application of Directive (EU) 2014/65, Regulation (EU) No 596/2014, Regulation (EU) 600/2014 and Regulation (EU) 648/2012 as regards activities involving financial instruments as defined underin Article 4(1)(15) of Directive (EU) 2014/65 as well as to the application of European competition law to the practices covered by this Regulation.
Amendment 2 #
2022/2051(INL)
Draft opinion
Recital A
Recital A
A. whereas the Conference on the Future of Europe served as an unprecedented platform for guided discussions between citizens and, representatives of governments, NGOs and (former) politicians and resulted in concrete proposals that need to be honoured even if they necessitated Tcould be implemented without treaty changes;
Amendment 3 #
2022/2051(INL)
Draft opinion
Paragraph 1
Paragraph 1
1. Insists on more democratic legitimacy, accountability and scrutiny of the Union economic policies; stresses for the framework, institutions and tools for EU economic governance to be under the Community method;Intergovernmental method; does not calls for any Treaty revision to grant the Parliament its role as co-legislator and democratic oversight in these policies;
Amendment 12 #
2022/2051(INL)
B. whereas the citizens’ panel 4 “EU in the world/ Migration” made several important recommendations in the field of foreign affairs, whichnotes that many recommendations of "citizens’" panels are all long- standing calls of the European Parliament;
Amendment 14 #
2022/2051(INL)
Motion for a resolution
Recital A (new)
Recital A (new)
A. whereas the Union needs to safeguard achieved women’s rights and gender equality against various attempts to undermine these rights;
Amendment 20 #
2022/2051(INL)
Motion for a resolution
Recital D (new)
Recital D (new)
D. whereas sexual and reproductive rights (SRR) are competences of the Member States;
Amendment 21 #
2022/2051(INL)
Draft opinion
Recital C
Recital C
C. whereas honouring those recommendations would make the Union a stronger and more visible global player, would lead to more efficient decision- making and would improve the European Parliament’s scrutiny rights in the field of foreign policy being the only democratically elected institution of the Unione principles of conferral, subsidiarity and proportionality would make the Union a stronger and more trusted entity and would improve the legitimacy of all EU- institutions in the eyes of citizens of Member States;
Amendment 21 #
2022/2051(INL)
Motion for a resolution
Recital E (new)
Recital E (new)
E. whereas the implementation of gender mainstreaming and gender budgeting across policy areas and institutions at Union and national levels is a Member State competency; whereas the systematic implementation of gender mainstreaming and gender budgeting may be recognised as a strategy and tool to ensure the inclusion of a gender perspective when designing, implementing and evaluating all legislation, policies, programmes and measures across every policy cycle; whereas the composition of the institutions and bodies of the Union should strive for equality of opportunity; whereas in order to ensure consistency between Article 23 of the Charter on “Equality between women and men (…) in all areas” and Article 8 of the Treaty on the Functioning of the European Union (“TFEU”) on eliminating inequalities “in all its activities” and to “promote equality”, it should be provided that the establishment and implementation of the secondary legislation of the Union should be gender mainstreamed and supported by gender budgeting;
Amendment 22 #
2022/2051(INL)
Motion for a resolution
Recital F (new)
Recital F (new)
F. whereas Articles 110 to 113 on tax provisions and Part Six Title II on financial provisions of the TFEU should be applied consistently with the core principle of equality between men and women laid down in Article 8 TFEU and Article 23 of the Charter, with the cross- cutting objective of the Treaties to achieve the complete elimination of gender discrimination from all policies;
Amendment 23 #
2022/2051(INL)
Motion for a resolution
Recital G (new)
Recital G (new)
G. whereas the Conference on the Future of Europe should not be used as a platform Treaty change;
Amendment 24 #
2022/2051(INL)
Motion for a resolution
Recital H (new)
Recital H (new)
H. whereas pursuant to the third subparagraph of Article 83(1) TFEU, gender-based violence is, in spite of developments in crime, still not identified as an area of particularly serious crime with a cross-border dimension against which the European Parliament and the Council should establish minimum rules to define criminal offences and sanctions by directives adopted through the ordinary legislative procedure; whereas family law is a competence of the Member States;
Amendment 24 #
2022/2051(INL)
Draft opinion
Paragraph 2
Paragraph 2
2. Supports an economic governance framework that ensures stability, full employment, strategic and sustainable investments, democratic accountability and ownership, and fiscal policies and instruments to counteract shocks;
Amendment 32 #
2022/2051(INL)
Draft opinion
Paragraph 1
Paragraph 1
1. Calls for the main citizens’ recommendationsunanimity to be retained in the field of foreign and security policy, notably the need to switch to more efficient decision-making, through the use of qualified majority voting (QMV) instead of unanimity, and the need to improve the Union’s methods to impose sanctions, to be incorporated in a Treaty change;
Amendment 33 #
2022/2051(INL)
Draft opinion
Paragraph 3
Paragraph 3
3. Calls for the economic governance to be redesigned takaccording into account lessons learned from the NGEU and SURE processfreemarket principles;
Amendment 34 #
2022/2051(INL)
Motion for a resolution
Paragraph 1 – point b
Paragraph 1 – point b
(1) The TEU shall be amended as follows: (b) in Article 3(3), the second subparagraph is replaced by the following: “It shall combat discrimination, and shall promote social justice and protection, gender equality between women and men, solidarity between generations and protection of the rights of the child. The aforementioned objectives shall be framed by the concept of fair social-economic governance, with the aim to reduce inequalities and to achieve gender equality.”.
Amendment 40 #
2022/2051(INL)
Motion for a resolution
Paragraph 1 – point d (new)
Paragraph 1 – point d (new)
(1) The TEU shall be amended as follows: (d) in Article 13, the following paragraph shall be added: “5. The composition of the Union’s institutions as well as of its governing and consultative bodies created by them shall be gender balanced and shall ensure gender parity.”.
Amendment 44 #
2022/2051(INL)
Motion for a resolution
Paragraph 2 point a (new)
Paragraph 2 point a (new)
(2) The TFEU shall be amended as follows: (a) in Article 4(2), point(k) shall be replaced by the following: “(k) common safety concerns in public health matters and the protection and improvement of human health.”;
Amendment 50 #
2022/2051(INL)
Motion for a resolution
Paragraph 2 – point c (new)
Paragraph 2 – point c (new)
(2) The TFEU shall be amended as follows: (c) Article 8 shall be replaced by the following: “Article 8 “In all its activities, the Union shall aim to promote gender equality, between men and women.”;
Amendment 54 #
2022/2051(INL)
Motion for a resolution
Paragraph 2 – point d (new)
Paragraph 2 – point d (new)
(2) The TFEU shall be amended as follows: (d) Article 10 shall be replaced by the following: “Article 10 “In defining and implementing its policies and activities, the Union shall aim to combat discrimination based on sex, genders, racial or ethnic origin, religion or belief, disability, age or sexual orientation.”;
Amendment 55 #
2022/2051(INL)
Draft opinion
Paragraph 4
Paragraph 4
4. Urges that the framework of the ECB’s accountability to Parliament be improved; Calls for a more comprehensive definition of the pron the ECB to sticek stability and the ways to achieve rictly to its mandate of price stability;
Amendment 58 #
2022/2051(INL)
Draft opinion
Paragraph 3
Paragraph 3
Amendment 58 #
2022/2051(INL)
Motion for a resolution
Paragraph 2 – point e (new)
Paragraph 2 – point e (new)
(2) The TFEU shall be amended as follows: (e) in Article 19, paragraph 1 shall be replaced by the following: “1. Without prejudice to the other provisions of the Treaties and within the limits of the powers conferred by them upon the Union, the Council, acting unanimously in accordance with a special legislative procedure and after obtaining the consent of the European Parliament, may take appropriate action to combat discrimination based on sex, genders, racial or ethnic origin, religion or belief, disability, age or sexual orientation.”;
Amendment 61 #
2022/2051(INL)
Motion for a resolution
Paragraph 2 – point f (new)
Paragraph 2 – point f (new)
(2) The TFEU shall be amended as follows: (f) in Article 81(3), the first and second subparagraphs shall be replaced as follows: “Notwithstanding paragraph 2, measures concerning family law with cross-border implications shall be adopted by the European Council.";
Amendment 61 #
2022/2051(INL)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Calls for, in order to ensure a competitive common market and sustainable economic growth, adherence to the Stability and Growth Pact;
Amendment 63 #
Amendment 64 #
2022/2051(INL)
Motion for a resolution
Paragraph 2 – point g (new)
Paragraph 2 – point g (new)
(2) The TFEU shall be amended as follows: (g) in Article 83(1), the second subparagraph shall be replaced as follows: “These areas of crime are the following: terrorism, trafficking in human beings and sexual exploitation of women and children, gender based violence, illicit drug trafficking, illicit arms trafficking, money laundering, corruption, counterfeiting of means of payment, computer crime and organised crime.”.
Amendment 67 #
2022/2051(INL)
Draft opinion
Paragraph 5
Paragraph 5
5. Underlines the numerous impediments to essential EU tax initiatives over the past decades; calls for gradual change that would allow QMV in certain tax questionsCalls for respecting the principle of unanimity in tax policy;
Amendment 68 #
2022/2051(INL)
Draft opinion
Paragraph 4
Paragraph 4
4. Underlines the need to strengthen the role of the Vice-President of the Commission/High Representative of the Union for Foreign Affairs and Security Policy and to ensure that the Union speaks with one voice, as requested by the citizens of the Union in the Conference on the Future of Europe; points out that his can be done through a Treaty change that would name the Vice-President/High Representative a foreign minister of the Union, would make him or her the main external representative of the Union in international fora and would allow him or her to be present ex-officio in negotiating formats initiated or led by the Member StatesMember States have national interests that at times diverge and that the Union cannot legitimately speak with one voice unless a position has been reached by unanimity;
Amendment 68 #
2022/2051(INL)
Motion for a resolution
Paragraph 2 – point h (new)
Paragraph 2 – point h (new)
(2) The TFEU shall be amended as follows: (h) in Article 153(1), point (i) shall be replaced by the following: “(i) to promote gender equality between men and women with regard to labour market opportunities and treatment at work;”;
Amendment 69 #
2022/2051(INL)
Draft opinion
Paragraph 5
Paragraph 5
5. Underlines the numerous impediments to essential EU tax initiatives over the past decades; calls for gradual change that would allow QMV in certain tax questionseed for tax competition in the EU;
Amendment 73 #
2022/2051(INL)
Motion for a resolution
Paragraph 2 – point i (new)
Paragraph 2 – point i (new)
(2) The TFEU shall be amended as follows: (i) Article 157 shall be amended as follows: (i) paragraph 1 shall be replaced by the following: “1. Each Member State shall ensure that the principle of equal pay for all workers regardless of gender for equal work or work of equal value is applied.”; (ii) in paragraph 2, the second subparagraph, introductory sentence, shall be replaced by the following: “Equal pay without discrimination based on sex or genders means:”; (iii) paragraph 3 shall be replaced by the following: “3. The European Council, after consulting the Economic and Social Committee, shall adopt measures to ensure the application of the principle of equal opportunities and to promote gender equality in matters of employment and occupation, including the principle of equal pay for equal work or work of equal value.”; (iv) paragraph 4 shall be replaced by the following: “4. With a view to ensuring full gender equality in practice in working life, the principle of equal treatment shall not prevent any Member State from maintaining or adopting measures specific to their own family and education law or labour markets.”;
Amendment 80 #
2022/2051(INL)
Motion for a resolution
Paragraph 2 – point k (new)
Paragraph 2 – point k (new)
(k) Declaration on Article 8 of the Treaty on the Functioning of the European Union (no 19) shall be replaced as follows: “The Conference agrees thatthe Union will aim in its different policies to combat all kinds of domestic violence. The Member States should take all necessary measures to prevent and punish these criminal acts and to support and protect the victims.”.
Amendment 85 #
2022/2051(INL)
Draft opinion
Paragraph 6
Paragraph 6
Amendment 85 #
2022/2051(INL)
Motion for a resolution
Paragraph 3 – point a (new)
Paragraph 3 – point a (new)
(3) The Charter shall be amended as follows: (a) in Article 3(2), the following point shall be added: “(e) the free and informed access of women to sexual and reproductive health care and rights”.
Amendment 92 #
2022/2051(INL)
Draft opinion
Paragraph 7
Paragraph 7
7. Stresses the importance of reinforcing the Parliament’s scrutiny rights in the foreign policy field, notably by strengthening the wording of Article 36 TEU concerning the consultation of the European Parliament on the main aspects and strategic choices in the field of CFSP and common security and defence policy; calls for changing Article 218 TFEU to require the European Parliament’s consent for all international agreements and before decisions on the provisional application of international agreements are taken; recalls the proven value of parliamentary diplomacy; suggests therefore introducing provisions for involvement of the European Parliament on equal footing with the Council in the implementation of international agreements in Article 218(9) TFEU; calls for more involvement of the European Parliament in the Team Europe approachrecalls the proven value of parliamentary diplomacy;
Amendment 92 #
2022/2051(INL)
Draft opinion
Paragraph 6
Paragraph 6
6. Highlights the new challenges for Union’s competition policy, which require that the Treaty be amended to align it with the goals of the Green Deal and the pillar of social rightsprice stability and a competitive economy and support the Union´s strategic autonomy in key sectors;
Amendment 93 #
2022/2051(INL)
Motion for a resolution
Paragraph 3 – point c (new)
Paragraph 3 – point c (new)
Amendment 97 #
2022/2051(INL)
Motion for a resolution
Paragraph 3 – point d (new)
Paragraph 3 – point d (new)
(3) The Charter shall be amended as follows: (d) Article 23 shall be replaced by the following: “Article 23 Gender equality between women and men Gender equality between women and men must be ensured in all areas, including employment, work and pay. The principle of equality shall not prevent the maintenance or adoption of measures providing for specific advantages as determined by individual Member States.”;
Amendment 99 #
2022/2051(INL)
Draft opinion
Paragraph 8
Paragraph 8
Amendment 103 #
2022/2051(INL)
Motion for a resolution
Paragraph 3 – point g (new)
Paragraph 3 – point g (new)
(3) The Charter shall be amended as follows: (g) Article 35 shall be replaced by the following: “Article 35 Health care Everyone has the right of access to preventive health care and the right to benefit from medical treatment under the conditions established by national laws and practices. A high level of human health protection, including sexual and reproductive health as women rights, shall be ensured in the definition and implementation of all Union policies and activities with room given to the specificities of each Member State’s family law.”.
Amendment 111 #
2022/2051(INL)
Draft opinion
Paragraph 7
Paragraph 7
7. Calls for the full use of the current Treaties, in the meantimerespecting the Treaties and strengthening the adherence to the principles of conferral, subsidiarity and proportionality.
Amendment 113 #
2022/2051(INL)
Draft opinion
Paragraph 9
Paragraph 9
9. Calls for the introduction of provisions in Articles 42 and 46 TEU enabling the joint procurement of defence equipment and other security-related spending from the budget of the Union as well as the establishment of joint military units and command structures;
Amendment 127 #
2022/2051(INL)
Draft opinion
Paragraph 10
Paragraph 10
10. Calls on the Council to convene a specific ad-hoc working group to reflect on possible Treaty changes, with a view to convening a conventionhow to strengthen the principles of conferral, subsidiarity and proportionality composed of representatives of the national parliaments, the Heads of State or Government of the Member States, the European Parliament and the Commission.
Amendment 253 #
2022/0403(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Regulation (EU) No 648/2012
Article 7 a
Article 7 a
Amendment 17 #
2022/0341(COD)
Proposal for a regulation
Recital 3
Recital 3
(3) Regulation (EU) No 260/2012 established technical and business requirements for credit transfers and direct debits in euro. Instant credit transfers in euro are a relatively new category of credit transfers in euro which emerged on the market only after the adoption of that Regulation. It is therefore necessary to provide for specific requirements for instant credit transfers in euro, in addition to the general requirements applicable to all credit transfers, to ensure the proper functioning and strengthening of the internal market, as well as guaranteeing interoperability.
Amendment 18 #
2022/0341(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) A number of national regulatory solutions have already been adopted or proposed to increase the uptake of instant credit transfers in euro, including by strengthening PSUs’ protection from sending funds to an unintended payee or specifying the process of compliance with obligations flowing from Union sanctions. The differences in those national regulatory solutions pose a risk of fragmentation of the internal market, thus increasing the compliance costs due to different sets of national regulatory requirements, and making the execution of cross-border instant credit transfers more difficult. Uniform rules for cross-border instant credit transfers should therefore be introduced to prevent such obstacles.
Amendment 30 #
2022/0341(COD)
Proposal for a regulation
Recital 8 a (new)
Recital 8 a (new)
(8a) Due to not all non-electronic payment initiation channels being open 24/7 (as in the case of certain branches), the time of receipt of a non-electronic payment order should in such cases be considered to take place at the moment the payment order is inserted into the payer’s PSP’s IT-system. This should take place as soon as such payment initiation channels open. In the situation when a PSU submits a request for bulk payments to its PSP, that PSP should immediately start to debulk that package into individual instant credit transfer transactions. The time of receipt of a payment order submitted in a bulk order should be the moment when each individual payment transaction has been unpacked. The payer’s PSP should immediately transmit the individual instant credit transfer transactions ensuing from a bulk order either simultaneously or in sequence. That should be done without prejudice to possible solutions to be provided by retail payment systems which would allow for the conversion of bulk orders into individual instant payment transactions. In cases where a payment order for an instant credit transfer in euro is submitted from a payment account that is not denominated in euro, the time of receipt should the moment when the PSP, immediately upon receiving that payment order, converts the amount of transaction from the currency in which the payment account is denominated into euro.
Amendment 69 #
2022/0341(COD)
Proposal for a regulation
Recital 14
Recital 14
(14) It is of critical importance that PSPs effectively comply with their obligations stemming from Union sanctions against persons, bodies or entities that are subject to an asset freeze or a prohibition to make funds or economic resources available to it, or for its benefit, either directly or indirectly, pursuant to restrictive measures adopted in accordance with Article 215 TFEU (listed persons or entities). Union law, however, does not lay down rules on the procedure or tools to be used by PSPs to ensure their compliance with those obligations. PSPs thus apply various methods, based on their individual choice or on the guidance provided by the national authorities concerned. The practice of complying with obligations stemming from Union sanctions by screening the payer and the payee involved in each credit transfer transaction, either national or cross-border, leads to a very high number of credit transfers being flagged as potentially involving listed persons or entities. However, the large majority of such flagged transactions turn out, after verification, not to involve any such persons or entities. Due to the nature of instant credit transfers, it is impossible for PSPs to verify, within short time limits, such flagged transactions instantly and, as a result, they are rejected. That situation creates operational challenges for PSPs to offer instant credit transfers to their PSUs across the Union in a reliable and predictable way. To provide for greater legal certainty, increase the efficiency of PSPs’ efforts to comply with their obligations stemming from Union sanctions in the context of instant credit transfers in euro, and to prevent unnecessary hindering of such transactions, PSPs should thus verify, at least daily, whether their PSUs are listed persons or entities, and should no longer apply transaction-based screening. The specific obligation of periodic verification of PSUs is only related to listed persons or entities.
Amendment 126 #
2022/0341(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5a – paragraph 2 – point b
Article 5a – paragraph 2 – point b
(b) after receiving a payment order for an instant credit transfer, they shall immediately verify whether all the necessary conditions for processing the payment are met and whether the necessary funds are available, reserve the amount on the account of the payer and instantly send the payment transaction to the payee’s PSP; and provide, within 10 seconds from the time of receipt, their PSU, as well as, where applicable, the payment initiation service provider intermediary involved, with confirmation of an executed or rejected instant credit transfer free of charge;
Amendment 163 #
2022/0341(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5a – paragraph 4a (new)
Article 5a – paragraph 4a (new)
(4a) In the event of any future amendments to the definition of ‘participant’ referred to in point (f) of Article 2 of Directive 98/26/EC of the European Parliament and of the Council resulting in the inclusion in that definition of PSPs referred to in the second subparagraph of the first paragraph of this article, the Commission shall be empowered to adopt a delegated act in accordance with Article 14a to amend that subparagraph accordingly.
Amendment 275 #
2022/0341(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 3 a (new)
Article 1 – paragraph 1 – point 3 a (new)
Regulation (EU) No 260/2012
Article 14a (new)
Article 14a (new)
Amendment 102 #
2022/0269(COD)
Draft legislative resolution
Paragraph 1
Paragraph 1
1. Adopts its position at first reading hereinafter setThe European Parliament calls on the Commission to conduct an impact assessment which should assess, at least the coherence of this proposal with other requirements and the direct and indirect consequences of such regulation for consumers and companies, in particular its impact on SMEs. The negotiations in the European Parliament should be postponed until the impact assessment has been carried out;.
Amendment 103 #
2022/0269(COD)
Proposal for a regulation
Recital 1 a (new)
Recital 1 a (new)
Amendment 127 #
2022/0269(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) Articles [XX] of Directive 2013/34/EU of the European Parliament and of the Council require Member States to ensure that certain economic operators annually publish non-financial statements in which they report on the impact of their activity on environmental, social and employee matters, respect for human rights, including regarding forced labour, anti-corruption and bribery matters.26 [Furthermore, Directive 20XX/XX/EU on Corporate Sustainability Reporting puts forward detailed reporting requirements for covered companies regarding the respect of human rights, including in global supply chains. The information that undertakings disclose about human rights should include, where relevant, information about forced labour in their valuesupply chains.27 ] _________________ 26 Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups, OJ 27 Directive 20XX/XX/EU of the European Parliament and of the Council amending Directive 2013/34/EU, Directive 2004/109/EC, Directive 2006/43/EC and Regulation (EU) No 537/2014, as regards corporate sustainability reporting, OJ XX, XX.XX.20XX, p. XX.
Amendment 159 #
2022/0269(COD)
Proposal for a regulation
Recital 21
Recital 21
(21) When identifying potential violations of the prohibition, the competent authorities should follow a risk-based approach and assess all information available to them. Competent authorities should initiate an investigation where, based on their assessment of all available information, they establish that there is a substantiated concern of a violation of the prohibition. Before initiating an investigation, competent authorities should be able to request additional information from economic operators under assessment, but also from other relevant stakeholders, including persons or associations having submitted relevant information to competent authorities and any other stakeholder working on the products or regions related to the assessment, as well as from diplomatic representations of the Union in relevant third countries. Substantive information and/or claims submitted should be made available to any economic operators under assessment, while safeguarding the identities of the stakeholders involvement.
Amendment 167 #
2022/0269(COD)
(22) Before initiating an investigation, competent authorities should ensure that substantive information and/or claims submitted should be made available to any economic operators under assessment, while safeguarding the identities of the stakeholders involved. Competent authorities should request from the economic operators under assessment information on actions taken to mitigate, prevent or bring to an end risks of forced labour in their operations and valuesupply chains with respect to the products under assessment. Carrying out such due diligence in relation to forced labour should help the economic operator to be at a lower risk of having forced labour in its operations and valuesupply chains. Appropriate due diligence means that forced labour issues in the valuesupply chain have been identified and addressed in accordance with relevant Union legislation and international standards. That implies that where the competent authority considers that there is no substantiated concern of a violation of the prohibition, or that the reasons that motivated the existence of a substantiated concern have been eliminated, for instance due to, but not limited to the applicable legislation, guidelines, recommendations or any other due diligence in relation to forced labour being applied in a way that mitigates, prevents and brings to an end the risk of forced labour, no investigation should be initiated.
Amendment 183 #
2022/0269(COD)
Proposal for a regulation
Recital 24
Recital 24
(24) During the preliminary phase of investigation, competent authorities should focus on the economic operators involved in the steps of the valuesupply chain where there is a higher risk of forced labour with respect to the products under investigation, also taking into account their size and economic resources, the quantity of products concerned and the scale of the suspected forced labour.
Amendment 190 #
2022/0269(COD)
Proposal for a regulation
Recital 25
Recital 25
(25) Competent authorities, when requesting information during the investigation, should prioritise to the extent possible and consistent with the effective conduct of the investigation the economic operators under investigation that are involved in the steps of the valuesupply chain as close as possible to where the likely risk of forced labour occurs and take into account the size and economic resources of the economic operators, the quantity of products concerned, as well as the scale of suspected forced labour.
Amendment 192 #
2022/0269(COD)
Proposal for a regulation
Recital 25 a (new)
Recital 25 a (new)
(25a) Where there is clear and reliable evidence that specific products produced in specific geographic areas present a high risk of having been subject to forced labour applied by state authorities, experts should be able to identify those products as “high risk products”. Criteria for ‘high risk’ designation must be publicly available. Any geographic areas considered for ‘high risk’ designation should allow for consultation and right of response from the relevant third countries before products are formally designated. The Commission should publish transparent and comprehensive guidelines including measurable criteria for economic operators and third countries to meet, to demonstrate that products are no longer ‘high risk’.
Amendment 195 #
2022/0269(COD)
Proposal for a regulation
Recital 25 b (new)
Recital 25 b (new)
(25b) Competent authorities cannot, in any case, request undertakings to provide, disclose or publish the business secret and intellectual property such as patents. The protection of confidential information should be respected.
Amendment 199 #
2022/0269(COD)
Proposal for a regulation
Recital 26
Recital 26
(26) Competent authorities should bear the burden of establishing that forced labour has been used at any stage of production, manufacture, harvest or extraction of a product, including working or processing related to the product on the basis of all information and evidence gathered during the investigation, including its preliminary phase. To ensure their right to due process, economic operators should have access to information collected and allegations submitted, and have the opportunity to provide information in their defence to the competent authorities throughout the investigation.
Amendment 221 #
2022/0269(COD)
Proposal for a regulation
Recital 30
Recital 30
(30) If the economic operators fail to comply with the decision of the competent authorities by the end of the established timeframe, the competent authorities should ensure that the relevant products are prohibited from being placed or made available on the Union market, exported or withdrawn from the Union market and that any such products remaining with the relevant economic operators are destroyed, rendered inoperable, or otherwise disposed of in accordance with national law consistent with Union law, including Union legislation on waste management at the expense of the economic operators. Such decision should be proportionate at least to the scale of forced labour, availability of alternative products, resilience of the EU, complexity of the suply chain and other relevant factors.
Amendment 227 #
2022/0269(COD)
Proposal for a regulation
Recital 31
Recital 31
(31) Economic operators should have the possibility to request a review of the decisions by the competent authorities, after having provided new information showing that it cannot be concluded that the relevant products have been made with forced labour. Competent authorities should withdraw their decision where they establish on the basis of that new information, that it cannot be established that the products have been made with forced labour. Economic operators should have a right to compensation, including the compensation in case of the prohibition, withdrawal or destruction of products arising from a wrongful decision by a competent authority.
Amendment 230 #
2022/0269(COD)
Proposal for a regulation
Recital 32
Recital 32
(32) Any person, whether it is a natural or legal person, or any association not having legal personality, should be allowed to submit information to the competent authorities when it considers that products made with forced labour are placed and made available on the Union market and to be informed of the outcome of the assessment of their submission. Submissions should be addressed to one or more competent authorities. Adequate protection measures should be put in place to ensure the safety of any person associated with the submission or the information contained within it, including from retaliation and reprisals. To ensure ease of use for the submission of information and the standardisation of the information provided, the Commission should set up a user-friendly mechanism for the submission of information, available in all official languages of the institutions of the Union, and free of charge. Substantive and detailed information about claims submitted should be made immediately available to any economic operators concerned, while safeguarding the identities of the natural or legal persons involved in the submission.
Amendment 258 #
2022/0269(COD)
Proposal for a regulation
Recital 37
Recital 37
(37) Where the competent authorities conclude that a product corresponds to a decision establishing a violation of the prohibition, they should immediately inform customs authorities which should refuse its release for free circulation or export. The product shouldmay be destroyed, rendered inoperable, or otherwise disposed of in accordance with national law consistent with Union law, including legislation on waste management, which excludes re-export in case of non-Union goods. Such decision should be proportionate, taking into account all relevant factors of the product, economic operator, consumers and the internal market.
Amendment 285 #
2022/0269(COD)
Proposal for a regulation
Recital 45
Recital 45
(45) Since forced labour is a global problem and given the interlinkages of the global valuesupply chains, it is necessary to promote international cooperation against forced labour, which would also improve the efficiency of applying and enforcing the prohibition. The Commission should as appropriately cooperate with and exchange information with authorities of third countries and international organisations to enhance the effective implementation of the prohibition. International cooperation with authorities of non-EU countries should take place in a structured way as part of the existing dialogue structures, for example Human Rights Dialogues with third countries, or, if necessary, specific ones that will be created on an ad hoc basis.
Amendment 288 #
2022/0269(COD)
Proposal for a regulation
Recital 48 a (new)
Recital 48 a (new)
(48a) In light of the absence of an impact assessment accompanying the Commission's proposal on this Regulation, the Commission should evaluate and publish report on the impact of this Regulation on internal market, competitiveness, consumers and the EU and national budgets. This evaluation should employ specific indicators to assess its effectiveness, efficiency, and overall impact.
Amendment 299 #
2022/0269(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
2. This Regulation shall not cover the withdrawal of products which have reached the end-users in the Union market. or have been transformed or integrated into another product.
Amendment 302 #
2022/0269(COD)
Proposal for a regulation
Article 1 – paragraph 2 a (new)
Article 1 – paragraph 2 a (new)
2a. This Regulation shall apply only to economic operators defined in Article 2 of the Directive (EU) [XXX/XXX] on Corporate Sustainability Due Diligence.
Amendment 335 #
2022/0269(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point h
Article 2 – paragraph 1 – point h
(h) ‘economic operator’ means any natural or legal person or association of persons who is company defined in Article 2 of the Directive (EU) [XXX/XXX] on Corporate Sustainability Due Diligence placing or making available products on the Union market or exporting products;
Amendment 372 #
2022/0269(COD)
Proposal for a regulation
Article 4 – paragraph 1 – introductory part
Article 4 – paragraph 1 – introductory part
1. Competent authorities shall follow a risk-based approach in assessing the likelihood that economic operators established in their territory violated Article 3. That assessment shall be based on all relevant information available to them, including the following information:
Amendment 376 #
2022/0269(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point e
Article 4 – paragraph 1 – point e
(e) information requested by the competent authority from other relevant authorities or competent authority of Member States , where necessary, on whether the economic operators under assessment are subject to and carry out due diligence in relation to forced labour in accordance with applicable Union legislation or Member States legislation setting out due diligence and transparency requirements with respect to forced labour.
Amendment 377 #
2022/0269(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point e a (new)
Article 4 – paragraph 1 – point e a (new)
(ea) direct engagement with the economic operators concerned.
Amendment 380 #
2022/0269(COD)
Proposal for a regulation
Article 4 – paragraph 2
Article 4 – paragraph 2
2. In their assessment of the likelihood that economic operators violated Article 3, competent authorities shall focus on the economic operators involved in the steps of the valuesupply chain as close as possible to where the risk of forced labour is likely to occur and take into account the size and economic resources of the economic operators, the due diligence plan of the economic operator under the Directive (EU) [XXX/XXX] on Corporate Sustainability Due Diligence with respect to prevent forced labour and the adequacy of the actions undertaken, the quantity of products concerned, as well as the scale of suspected forced labour.
Amendment 387 #
2022/0269(COD)
Proposal for a regulation
Article 4 – paragraph 3 – introductory part
Article 4 – paragraph 3 – introductory part
3. Before initiating an investigation in accordance with Article 5(1), the competent authority shall (i) inform and coordinate its actions with any other competent authority designated by the Member State under the Directive (EU) [XXX/XXX] on Corporate Sustainability Due Diligence and the Directive (EU) 2019/1937 of the European Parliament and of the Council on the protection of persons who report breaches of Union law. If a request of information or an investigation has already been launched in relation to similar facts or products, a lead competent authority shall be designated through the coordination mechanism in accordance with Article 12, to avoid duplicating requests of information or investigations. In this case, the competent authorities shall cooperate and share information with each other. (ii) request from the economic operators under assessment information on actions taken to identify, prevent, mitigate or bring to an end risks of forced labour in their operations and valuesupply chains with respect to the products under assessment, including on the basis of any of the following:
Amendment 398 #
2022/0269(COD)
Proposal for a regulation
Article 4 – paragraph 4
Article 4 – paragraph 4
4. Economic operators shall respond to the request of the competent authority referred to in paragraph 3 within 1530 working days from the day they received such request. Economic operators may provide to competent authorities any other information they may deem useful for the purposes of this Article. In duly justified case, competent authorities may extend the response time by 15 working days.
Amendment 410 #
2022/0269(COD)
Proposal for a regulation
Article 4 – paragraph 5
Article 4 – paragraph 5
5. Within 30 working days from the date of receipt of the information submitted by economic operators pursuant to paragraph 4, the competent authorities shall conclude the preliminary phase of their investigation as to whether there is an ongoing and a substantiated concern of violation of Article 3 on the basis of the assessment referred to in paragraph 1 and the information submitted by economic operators pursuant to paragraph 4.
Amendment 417 #
2022/0269(COD)
Proposal for a regulation
Article 4 – paragraph 6
Article 4 – paragraph 6
6. The competent authority shall provide an opportunity for and duly take into account where the economic operator demonstrates that it carries out due diligence on the basis of identified forced labour impact in its supply chain, adopts and carries out measures suitable and effective for bringing to an end forced labour in a short period of time. The competent authority shall also take into account difficulties met in collecting reliable information on forced labour, especially in geographical areas other than the ones listed in the database referred to in Article 11.
Amendment 436 #
2022/0269(COD)
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
1. Competent authorities that, pursuant to Article 4(5), and where appropriate with reference to the database referred to in Article 11, determine that there is a substantiated concern of a violation of Article 3, shall decide to initiate an investigation on the products and economic operators concerned.
Amendment 444 #
2022/0269(COD)
Proposal for a regulation
Article 5 – paragraph 2 – point c
Article 5 – paragraph 2 – point c
(c) the reasons for the initiation of the investigation, unless it would jeopardise the outcome of the investigation;
Amendment 449 #
2022/0269(COD)
Proposal for a regulation
Article 5 – paragraph 2 – point d a (new)
Article 5 – paragraph 2 – point d a (new)
(da) the substantive information of any submission made by any natural or legal person that contributed to initiating an investigation, while withholding their identifying details.
Amendment 454 #
2022/0269(COD)
Proposal for a regulation
Article 5 – paragraph 3 – introductory part
Article 5 – paragraph 3 – introductory part
3. Where requested to do so by competent authorities, eEconomic operators under investigation shall have a right to submit to those competent authorities any information that is relevant and necessary for the investigation, including information identifying the products under investigation, the manufacturer or producer of those products and the product suppliers. In requesting such information, competent authorities shall to the extent possible:
Amendment 459 #
2022/0269(COD)
Proposal for a regulation
Article 5 – paragraph 3 – point a
Article 5 – paragraph 3 – point a
(a) prioritise the economic operators under investigation involved in the steps of the valuesupply chain as close as possible to where the likely risk of forced labour occurs and
Amendment 465 #
2022/0269(COD)
Proposal for a regulation
Article 5 – paragraph 4
Article 5 – paragraph 4
4. Economic operators shall submit the information within 1530 working days from the request referred to in paragraph 3 or make a justified request for an extension of that time limit. In duly justified case, competent authorities may extend the response time by 15 working days.
Amendment 474 #
2022/0269(COD)
Proposal for a regulation
Article 5 – paragraph 5
Article 5 – paragraph 5
5. When deciding on the time limits referred to in this Article, competent authorities shall consider all relevant aspects, including complexity of the product and its supply chain and the size and economic resources of the economic operators concerned.
Amendment 481 #
2022/0269(COD)
Proposal for a regulation
Article 5 – paragraph 6 a (new)
Article 5 – paragraph 6 a (new)
6a. The identity of the economic operator shall not be made publicly available during the investigation.
Amendment 482 #
2022/0269(COD)
Proposal for a regulation
Article 5 – paragraph 6 b (new)
Article 5 – paragraph 6 b (new)
6b. No later than 6 months after the entry into force of this Regulation, the Commission shall issue the guidance on investigation process including best practices and update them on an annual basis.
Amendment 484 #
2022/0269(COD)
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
1. Competent authorities shall assess all information and evidence gathered pursuant to Articles 4 and 5 and, on that basis, establish whether Article 3 has been violated, within a reasonable period of time60 working days from the date they initiated the investigation pursuant to Article 5(1). This period can in duly justified cases be prolonged by another 60 working days.
Amendment 493 #
2022/0269(COD)
Proposal for a regulation
Article 6 – paragraph 2
Article 6 – paragraph 2
Amendment 497 #
2022/0269(COD)
Proposal for a regulation
Article 6 – paragraph 3
Article 6 – paragraph 3
3. Where competent authorities cannot establish that Article 3 has been violatedwithin 60 working days from the date the economic operator submitted the information pursuant to Article 5(4) competent authorities cannot establish that Article 3 has been violated, or where concerns have been addressed and remedied during the course of the investigation, they shall take a decision to close the investigation and inform the economic operator thereof.
Amendment 502 #
2022/0269(COD)
Proposal for a regulation
Article 6 – paragraph 4 – introductory part
Article 6 – paragraph 4 – introductory part
4. Where competent authorities establish that Article 3 has been violated, they shall without delay adopt a decision containing one or more of the following measures:
Amendment 523 #
2022/0269(COD)
Proposal for a regulation
Article 6 – paragraph 4 – point c a (new)
Article 6 – paragraph 4 – point c a (new)
(ca) other appropriate remedial measure.
Amendment 525 #
2022/0269(COD)
Proposal for a regulation
Article 6 – paragraph 4 a (new)
Article 6 – paragraph 4 a (new)
4a. When deciding on a measure in accordance with Article 4(4), the competent authority shall consider factors such as the mitigating measures put in place by the economic operator, absence of other safety concerns related to the product, the impact on the EU resilience, the complexity of the supply chain, the existence of alternative products, the costs, environmental and socio-economic impact of the measure.
Amendment 528 #
2022/0269(COD)
Proposal for a regulation
Article 6 – paragraph 5 – introductory part
Article 6 – paragraph 5 – introductory part
5. Where an economic operator has failed to comply with the decision referred to in paragraph 4, the competent authorities shall ensure allone of the following:
Amendment 547 #
2022/0269(COD)
Proposal for a regulation
Article 6 – paragraph 6
Article 6 – paragraph 6
6. Where economic operators provide evidence to the competent authorities that they have complied with the decision referred to in paragraph 4, and that they have actively pursued measures to eliminated forced labour from their operations or supply chain with respect to the products concerned, the competent authorities shall withdraw their decision for the future and inform the economic operators.
Amendment 552 #
2022/0269(COD)
Proposal for a regulation
Article 6 – paragraph 6 a (new)
Article 6 – paragraph 6 a (new)
6a. Competent authorities shall ensure that a reasonable period is granted to economic operators to comply with their obligations under this Article.
Amendment 559 #
2022/0269(COD)
(b) a reasonable time limit for the economic operators to comply with the order, which shall not be less than 360 working days and no longer than necessary to withdraw the respective products. When setting such a time limit, the competent authority shall take into account the economic operator’s size and economic resources;
Amendment 567 #
2022/0269(COD)
Proposal for a regulation
Article 7 – paragraph 1 – point d a (new)
Article 7 – paragraph 1 – point d a (new)
(da) all information allowing the economic operators to request a review of the decision in accordance with Article 8(5).
Amendment 574 #
2022/0269(COD)
Proposal for a regulation
Article 8 – paragraph 2
Article 8 – paragraph 2
2. A request for a review of a decision adopted pursuant Article 6(4) shallmay contain new information that was not brought to the attention of the competent authority during the investigation. The request for a review shall delay the enforcement of the decision adopted pursuant to Article 6(4) until the competent authority decides on the request for the review.
Amendment 576 #
2022/0269(COD)
Proposal for a regulation
Article 8 – paragraph 3
Article 8 – paragraph 3
3. A competent authority shall take a decision on the request for review within 150 working days from the date of receipt of the request. In case of perishable goods, animals and plants that time limit shall be 5 working days.
Amendment 600 #
2022/0269(COD)
Proposal for a regulation
Article 9 – paragraph 2 a (new)
Article 9 – paragraph 2 a (new)
2a. The Commission shall without delay inform any affected economic operators and third country authorities, of actions taken or not taken under this paragraph.
Amendment 603 #
2022/0269(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. Submissions of information by any natural or legal person or any association not having legal personality, to competent authorities on alleged violations of Article 3 shall contain information on the economic operators or products concerned and provide the reasons substantiatingobjective reasons along with a minimum level of evidence to support the allegation.
Amendment 606 #
2022/0269(COD)
Proposal for a regulation
Article 10 – paragraph 1 a (new)
Article 10 – paragraph 1 a (new)
1a. Member States shall ensure that competent authorities are able to dismiss manifestly unfounded cases at the earliest possible stage of the investigation in accordance with national law and that the person submiting the information of manifestly unfounded cases could be held liable for damages including the reputational risks associated with dissemination of unfounded information.
Amendment 615 #
2022/0269(COD)
Proposal for a regulation
Article 10 – paragraph 2 a (new)
Article 10 – paragraph 2 a (new)
2a. The competent authority shall, as soon as possible, inform the economic operator about the the submission, and the substantive detail therein.
Amendment 621 #
2022/0269(COD)
Proposal for a regulation
Article 11 – paragraph 1
Article 11 – paragraph 1
1. The Commission shall call upon external expertise to provide an indicative, non-exhaustive,accurate verifiable and regulardaily updated database of forced labour risks in specific geographic areas or with respect to specific products including with regard to forced labour imposed by state authorities. The database shall be based on the guidelines referred to in Article 23, points (a), (b) and (c), and relevant external sources of information from, amongst others, international organisations and third country authorities. The assessment of the initial database shall include full and transparent engagement with third country authorities, trading partners and economic operators including request for formal submissions, publicly-available proposed criteria for determining risk levels, and the formation of a Labour Platform stakeholder forum to allow for ongoing feedback on the operation and updating of the database.
Amendment 629 #
2022/0269(COD)
Proposal for a regulation
Article 11 – paragraph 1 a (new)
Article 11 – paragraph 1 a (new)
1a. Based on verifiable or, where the evidence is impossible to obtain on reliable evidence, external experts may identify products made in geographic areas with forced labour applied by state authorities that are in high-risk of violating Article 3.Criteria for ‘high risk’ designation shall be published. Any geographic areas considered for ‘high risk’ designation shall allow for consultation and right of response from the relevant third countries before products are formally designated. The Commission shall issue guidelines on measurable criteria for economic operators and third countries to meet and to demonstrate that products are no longer ‘high risk’ no later than 6 months after the entry into force of this Regulation.
Amendment 640 #
2022/0269(COD)
Proposal for a regulation
Article 11 – paragraph 2
Article 11 – paragraph 2
2. The Commission shall ensure that the database is made publicly available by the external expertise at the latest 124 months after the entry into force of this Regulation.
Amendment 647 #
2022/0269(COD)
Proposal for a regulation
Article 11 – paragraph 3 a (new)
Article 11 – paragraph 3 a (new)
3a. The process for assessing the initial database shall include full and transparent engagement with third country authorities, trading partners and economic operators including request for formal submissions, publicly-available proposed criteria for determining risk levels, and the formation of a Labour Platform stakeholder forum to allow for ongoing feedback on the operation and updating of the database.
Amendment 733 #
2022/0269(COD)
Proposal for a regulation
Article 23 – paragraph 1 – introductory part
Article 23 – paragraph 1 – introductory part
The Commission shall issue guidelines no later than 186 months after the entry into force of this Regulation, which shall include the following:
Amendment 735 #
2022/0269(COD)
Proposal for a regulation
Article 23 – paragraph 1 – point a
Article 23 – paragraph 1 – point a
(a) guidance on due diligence in relation to forced labour, which shall take into account applicable Union legislation setting out due diligence requirements with respect to forced labour, guidelines and recommendations from international organisations, as well as the size and economic resources of economic operators, taking into account the specificity of all economic sectors, including the agricultural sector;
Amendment 743 #
2022/0269(COD)
Proposal for a regulation
Article 23 – paragraph 1 – point b
Article 23 – paragraph 1 – point b
(b) information on risk indicators of both the private sector and risk of state- imposed forced labour, which shall be based on independent and verifiable information, including reports from international organisations, in particular the International Labour Organization, civil society, business organisations, and experience from implementing Union legislation setting out due diligence requirements with respect to forced labour;
Amendment 756 #
2022/0269(COD)
Proposal for a regulation
Article 23 – paragraph 1 a (new)
Article 23 – paragraph 1 a (new)
The guidelines shall take into account other relevant legislation, such as EU Corporate Sustainability Due Diligence Directive, Regulations on responsible minerals, batteries and deforestation-free products.
Amendment 823 #
2022/0269(COD)
Proposal for a regulation
Article 30 a (new)
Article 30 a (new)
Amendment 148 #
2022/0032(COD)
Proposal for a regulation
Recital 2 a (new)
Recital 2 a (new)
(2 a) An impact assessment for the funding for the establishment of a framework of measures for strengthening Europe's semiconductor ecosystem should be performed, given the difficulties faced by regular citizens in uncertain times as well as the general complexity of EU funds;
Amendment 159 #
2022/0032(COD)
Proposal for a regulation
Recital 22
Recital 22
(22) It is important that Integrated Production Facilities and Open EU Foundries are not subject to extraterritorial application of public service obligations imposed by third countries that could undermine their ability to use their infrastructure, software, services, facilities, assets, resources, intellectual property or knowhow needed to fulfil the obligation on priority rated orders under this Regulation, which they would have to guarantee.
Amendment 160 #
2022/0032(COD)
Proposal for a regulation
Recital 23
Recital 23
(23) In light of the fast development of semiconductor technologies and to strengthen the future industrial competitiveness of the Union, Integrated Production Facilities and Open EU Foundries should commit to continued and efficient investment into the next generations of semiconductors, including by testing and experimenting new developments through priority access to the pilot lines set up by the Chips for Europe Initiative, without prejudice to effective access by others.
Amendment 161 #
2022/0032(COD)
Proposal for a regulation
Recital 27
Recital 27
(27) The internal market would greatly benefit from common standards for green, trusted and secure chips. Future smart devices, systems and connectivity platforms will have to rely on advanced semiconductor components and they will have to meet green, trust and cybersecurity requirements which will largely depend on the features of the underlying technology. To that end, the Union should develop reference certification procedures and require the industry to jointly develop such procedures for specific sectors and technologies with potential high social impact.
Amendment 162 #
2022/0032(COD)
Proposal for a regulation
Recital 28
Recital 28
(28) In light of this, the Commission, in consultation with the European Semiconductor Board, should prepare the ground for a certification of green, trusted and secure chips and embedded systems that rely on or make extensive use of semiconductor technologies. In particular, they should discuss and identify the relevant sectors and products in need of such certification.
Amendment 165 #
2022/0032(COD)
Proposal for a regulation
Recital 30
Recital 30
(30) Due to the complex, quickly evolving and interlinked semiconductor value chains with various actors, a coordinated approach to regular monitoring is necessary to increase the ability to mitigate risks that may negatively affect the supply of semiconductors. Member States in close cooperation with industry stakeholders across the entire semiconductor ecosystem should monitor the semiconductor value chain focusing on early warning indicators and the availability and integrity of the services and goods provided by key market actors, in such a way that it would not represent an excessive administrative burden for undertakings.
Amendment 167 #
2022/0032(COD)
Proposal for a regulation
Recital 32 a (new)
Recital 32 a (new)
(32 a) The European Semiconductor Board should seek to examine other market forces and events central to the operation of the semiconductor industry, such as energy prices and energy shortages. Where appropriate, recommendations for remedying the situation should be provided, particularly those proposing innovative technological solutions and responses to economic difficulties.
Amendment 179 #
2022/0032(COD)
Proposal for a regulation
Recital 48
Recital 48
(48) In order to ensure that critical sectors can continue to operate in a time of crisis and when necessary and proportionate for this purpose, Integrated Production Facilities and Open EU Foundries could be obliged by the Commission to accept and prioritise orders of crisis-relevant products. This obligation may also be extended to semiconductor manufacturing facilities which have accepted such possibility in the context of receiving public support. The decision on a priority rated order should be taken in accordance with all applicable Union legal obligations, having regard to the circumstances of the case. The priority rating obligation should take precedence over any performance obligation under private or public law while it should have regard for the legitimate aims of the undertakings and the cost and effort required for any change in production sequence. Undertakings may be subject to penalties if they fail to comply with the obligation for priority rated orders.
Amendment 181 #
2022/0032(COD)
Proposal for a regulation
Recital 49
Recital 49
(49) The undertaking concerned should be obliged to accept and prioritise a priority rated order. In exceptional and duly justified cases, tCommission may choose to oblige an undertaking to prioritise a priority rated order. The undertaking could request the Commission to review the imposed obligation. This applies either where the facility is unable to fulfil the order even if prioritised, be it due to insufficient production capability or production capacity, or because this would place an unreasonable economic burden and entail particular hardship on the facility.
Amendment 183 #
2022/0032(COD)
Proposal for a regulation
Recital 50
Recital 50
(50) Under the exceptional circumstance that an undertaking operating along the semiconductor supply chain in the Union receives a priority rated order request from a third country, it shouldmay inform the Commission of this request, so as to inform. This may trigger the Commission to undergo an assessment of whether, if there is a significant impact on the security of supply to critical sectors, ands well as whether the other requirements of necessity, proportionality and legality are satisfied in the circumstances of the case, the Commission should likewisemet to enact a priority rated order obligation.
Amendment 184 #
2022/0032(COD)
Proposal for a regulation
Recital 51
Recital 51
(51) In light of the importance to ensure the security of supply to critical sectors that perform vital societal functions, compliance with the obligation to perform a priority rated order should not entail liability for damages towards third parties for any breach of contractual obligations that may result from the necessary temporary changes of the operational processes of the concerned manufacturer, limited to the extent the violation of contractual obligations was necessary for compliance with the mandated prioritisation. Undertakings potentially within scope offalling within the scope of potentially being asked to fulfil a priority rated order should anticipate this possibility in the conditions of their commercial contracts. Without prejudice to the applicability of other provisions, the liability for defective products, as provided for by Council Directive 85/374/EEC of 25 July 198562 , is not affected by this liability exemption. _________________ 62 Council Directive 85/374/EEC of 25 July 1985 on the approximation of the laws, regulations and administrative provisions of the Member States concerning liability for defective products (85/374/EEC) (OJ L 210, 7.8.1985, p. 29).
Amendment 194 #
2022/0032(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 17
Article 2 – paragraph 1 – point 17
(17) ‘crisis-relevant product’ means semiconductors, intermediate products and raw materials required to produce semiconductors or intermediate products, as well as services that are affected by the semiconductor crisis or of strategic importance to remedy the semiconductor crisis or economic effects thereof;
Amendment 199 #
2022/0032(COD)
Proposal for a regulation
Article 4 – paragraph 2 – point b – point 3
Article 4 – paragraph 2 – point b – point 3
(3) providing support to Integrated Production Facilities and Open EU Foundries through the possibility of priority access to the new pilot lines.
Amendment 221 #
2022/0032(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point c
Article 10 – paragraph 2 – point c
(c) it guarantees not to be subject to the extraterritorial application of public service obligations of third countries in a way that may undermine the undertaking’s ability to comply with the obligations set out in Article 21(1) and commits to inform the Commission when such obligation arises; the European Semiconductor Board and the Commission shall enter into intergovernmental dialogue and consultation through the structures of the European Semiconductor Board in order to facilitate a resolution of any conflicts of interest or inconsistencies within existing contractual obligations.
Amendment 222 #
2022/0032(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point d
Article 10 – paragraph 2 – point d
(d) it commits to invest in the next generation of chips and in projects that are highly ambitious, aimed at developing technologies and processes that go beyond current technology and allow for major improvements in performance, safety and security, in line with the needs and aims of the Union's digital transformation, giving due consideration to ongoing and planned R&D&I activities and projects.
Amendment 229 #
2022/0032(COD)
Proposal for a regulation
Article 10 – paragraph 3
Article 10 – paragraph 3
3. For the purpose of investing in the next generation of chips according to paragraph 2, point (d), the Integrated Production Facility shall havemay be granted priority access to the pilot lines set up in accordance with Article 5, point (b). Any such priority access shall be without prejudice to effective access to the pilot lines by other interested undertakings.
Amendment 240 #
2022/0032(COD)
Proposal for a regulation
Article 11 – paragraph 4
Article 11 – paragraph 4
4. For the purpose of investing in the next generation of chips according to paragraph 2, point (d), the Open EU Foundry shall havemay be granted priority access to the pilot lines set up in accordance with Article 5, point (b). Any such priority access shall be without prejudice to effective access to the pilot lines by other interested undertakings.
Amendment 249 #
2022/0032(COD)
Proposal for a regulation
Article 14 – paragraph 2 a (new)
Article 14 – paragraph 2 a (new)
2 a. Through the European Semiconductor Board and in cooperation with the Commission, Member States may seek to give recommendations to establish minimum restrictions by public authorities at a national level.
Amendment 270 #
2022/0032(COD)
Proposal for a regulation
Article 21 – paragraph 1
Article 21 – paragraph 1
1. Where necessary and proportionate to ensure the operation of all or certain critical sectors, the Commission may oblige Integrated Production Facilities and Open EU Foundries to accept and prioritise an order of crisis-relevant products (‘priority rated order’). TheSuch an obligation shall take precedence over any performance obligation under private or public lawnot compromise the free market or European companies' business practices.
Amendment 272 #
2022/0032(COD)
Proposal for a regulation
Article 21 – paragraph 3
Article 21 – paragraph 3
3. When a semiconductor undertaking established in the Union is subject to a third country priority rated order measure, it shallmay inform the Commission. Should that obligation significantly impact the operation of certain critical sectors, the Commission may oblige that undertaking to accept and prioritise orders of crisis relevant products in line with paragraph 4, 5 and 6.
Amendment 273 #
2022/0032(COD)
Proposal for a regulation
Article 21 – paragraph 4
Article 21 – paragraph 4
4. The obligations under paragraph 1, 2 and 3 shall be enacted by the Commission via decisionconsultation with the undertaking concerned. The decision shall be taken in accordance with all applicable Union legal obligations, having regard to the circumstances of the case, including the principles of necessity and proportionality. The decision shall in particular have regard for the legitimate aims and circumstances of the undertaking concerned and, as well as a complete analysis of the cost and effort required for anyto change inthe production sequence. In its decisarguments to enact a priority order obligation, the Commission shall state the legal basis ofor the priority rated order, fix the time-limit within which the order is to be performed, and, where applicable, specify the product and quantity, and state the penalties provided for in Article 28 for non- compliance with the obligationset a desirable deadline, and, where applicable, specify the product and quantity. The priority rated order shall be placed at fair and reasonable price.
Amendment 274 #
2022/0032(COD)
Proposal for a regulation
Article 21 – paragraph 5 – introductory part
Article 21 – paragraph 5 – introductory part
5. The undertaking concerned shall be obliged to accept and prioritise a priority rated order. The undertaking may request the Commission to review the priority rated order where it considers it to be duly justified based on one of the following grounds:
Amendment 276 #
2022/0032(COD)
Proposal for a regulation
Article 21 – paragraph 5 – point a
Article 21 – paragraph 5 – point a
(a) if the undertaking is unable to perform the priority rated order on account of insufficient production capability or production capacity, even under preferential treatment of the order;
Amendment 277 #
2022/0032(COD)
Proposal for a regulation
Article 21 – paragraph 5 – point b
Article 21 – paragraph 5 – point b
(b) if acceptance of the order would place an unreasonable economic burden and entail particular hardship for the undertaking.
Amendment 279 #
2022/0032(COD)
Proposal for a regulation
Article 21 – paragraph 6
Article 21 – paragraph 6
6. Where an undertaking is obliged to accepts and prioritise a priority rated order, it shall not be liable for any breach of contractual obligations that is required to comply with the priority rated orders. The liability shall be excluded only to the extent that the violation of contractual obligations was necessary for compliance with the mandated prioritisation.
Amendment 281 #
2022/0032(COD)
Proposal for a regulation
Article 22 – paragraph 3
Article 22 – paragraph 3
3. The Commission shall draw up a proposal for a framework agreement to be signed by the participating Member States. This framework agreement shall organiseexplain in detail the possibility of common purchasing referred to in paragraph 1, including acceptable justifications for its use and liabilities to be assumed by the Commission.
Amendment 282 #
2022/0032(COD)
Proposal for a regulation
Article 22 – paragraph 4
Article 22 – paragraph 4
4. Procurement under this Regulation shall be carried out by the Commission in accordance with the rules set out in the Financial Regulation for its own procurement. The Commission may have the ability and responsibility, on behalf of all participating Member States, to enter into contracts with economic operators, including individual producers of crisis- relevant products, concerning the purchase of such products or concerning, the advanced financing of the production or the development of such products in exchange for a priority rightaccess to the result.
Amendment 35 #
2021/2243(INI)
Motion for a resolution
Recital A
Recital A
A. whereas there are many women face intersecting inequalities and discrimination in the EU; whereas intersectional discrimination refers to a situation in which several grounds of discrimination operate and interact with each other, in a way that is inseparable and produces specific types of discrimination unique to each and every individual;
Amendment 47 #
2021/2243(INI)
Motion for a resolution
Recital B
Recital B
B. whereas EU policies have not involved an intersectional approach thus far and have focused only on theand gender policy experts have struggled to define intersectional discrimination; the prevailing academic view thus focuses on individual dimensions of discrimination, which downplaysstruggles to accommodate its institutional, structural and historical dimensions holistically;
Amendment 56 #
2021/2243(INI)
Motion for a resolution
Recital C
Recital C
C. whereas women are not a homogenous category and understanding their diversity is key to ensuring that policymaking does not continue to render certain groups of women invisibleis inclusive of all women;
Amendment 63 #
2021/2243(INI)
Motion for a resolution
Recital D
Recital D
D. whereas a key challenge in operationalising intersectionality and addressing intersecting forms of discrimination is the absence of intersectional equality data, including data disaggregated by race and ethnicityFundamentally opposes the statistical categorisation of people according to race or ethnicity and supports that processing of such personal data is prohibited in most member states. Welcomes therefore, that the European Statistical Office (Eurostat) refrains from this practice and calls upon the Commission to never allow any kind of race classification in the institutions;
Amendment 69 #
2021/2243(INI)
Motion for a resolution
Recital E
Recital E
E. whereas implementing intersectional policy means undertaking thorough impact assessments of policies and legislation, removing measures that are detrimental to marginalised groups at the intersections of discriminationviewing detrimental measures, studying marginalised groups, and securing the meaningful participation of people affected by inequalities in all their diversity;
Amendment 80 #
2021/2243(INI)
Motion for a resolution
Recital F
Recital F
F. whereas women subjected to intersecting types of discrimination face multiple obstacles in accessing the formal labour market, leaving them vulnerable to discrimination, exploitation, sexual harassment and mistreatment; people of all genders may also face such obstacles; whereas across the EU, 91 % of Black women are overqualified in their jobs, compared to 48 % of white women;
Amendment 93 #
2021/2243(INI)
Motion for a resolution
Recital H
Recital H
H. whereas on several occasions, the respondents in the FRA LGBTI Survey II highlight additional grounds for discrimination, with 40 % facing additional discrimination on account of being member of an ethnic minority or having an immigrant background, 15 % on account of their skin colour, 36 % on account of having a disability and 28 % on account of religionwhich integration and linguistic classes should help minimize;
Amendment 102 #
2021/2243(INI)
Motion for a resolution
Recital I
Recital I
I. whereas the high unemployment rate among Roma women cannot be explained by one single factor, such as discriminationappears to be founded on the basis of ethnicity, gender or socio-economic background, as these grounds are mutually reinforcing;
Amendment 110 #
2021/2243(INI)
Motion for a resolution
Recital J
Recital J
J. whereas high degrees of prejudice and the subsequent policies preventing Muslim women from wearing religious dress further trigger unequal treatment andintersectional discrimination as it relates to Muslim women multiplyies the barriers to accessing the labour market and housing, thereby keeping them in a precarious socio- economic situation;
Amendment 120 #
2021/2243(INI)
Motion for a resolution
Recital K
Recital K
K. whereas racialised women, women from disadvantaged socio-economic backgrounds, women with disabilities and LGBTIQ people face additional barriers and violence into accessing healthcare, including sexual and reproductive health and rights (SRHR), as a result of discriminatory laws and policies, stigma and stereotypes;
Amendment 133 #
2021/2243(INI)
Motion for a resolution
Recital L
Recital L
L. whereas intersecting types of discrimination can have a serious impact on the life of migrant women and their children, who are most frequently the survivors of gender-based violence such as female genital mutilation, for exampleced marriages and child marriages, by limiting or impeding their access to the prevention, support and protection services they need as a result of a combination of types of discrimination and cultural and linguistic barriers; ;
Amendment 150 #
2021/2243(INI)
Motion for a resolution
Recital P a (new)
Recital P a (new)
Amendment 156 #
2021/2243(INI)
Motion for a resolution
Recital P b (new)
Recital P b (new)
Amendment 162 #
2021/2243(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Stresses the need for EU policymaking to addresswork on clearly defining intersecting forms of discrimination and calls for the polices under the Union of Equality to be strengthened and for an EU framework on intersectional discrimination with cross- cutting objectives and measures to be promoted; stressed the difficulty of holistically receiving answers on intersectional discrimination, a tool which calls for a holistic and expansive evaluation at each instance of application; underlines that it is unfeasible to do within the existing legal bounds of most Member States;
Amendment 171 #
2021/2243(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Calls for the creation ofMay consider supporting a mainstreaming mechanism for cooperation and coordination for EU and national equality policies, ensuring that all types of discrimination, especially those which intersect, are taken into account in the review and adoption of policies, including through systematic gender and equality impact assessments;
Amendment 173 #
2021/2243(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
Amendment 180 #
2021/2243(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
Amendment 191 #
2021/2243(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Welcomes the appointment of a Commissioner for Equality and EU coordinators for combating racism, as well as for combating antisemitism and fostering Jewish life; stresses that in order to institutionalise an approach that takes intersectionality into account, the Commission should appoint coordinators aligned with all of the individual Equality Strategies; stressed that before making any appointments on the basis of intersectionality, the Commission should be assured of the rigor of the definition of intersectional discrimination and its method of application;
Amendment 196 #
2021/2243(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Calls for the role and cooperation of the Commission’s Task Force on Equality to be reinforced and its cooperation with other bodies to be stepped up in order to ensureconsider that all policy measures include an intersectional perspective based on impact assessments of policies and legislation; intersectional discrimination will continue to be addressed on an evolutionary basis as methods to measure and address this form of discrimination are developed;
Amendment 209 #
2021/2243(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls on the Commission to operationalisetake an intersectionality in approach to the upcoming directive to strengthen the role and independence of equality bodies and to include the intersectionality perspective in the evaluation and implementation criteria of the Victims’ Rights Directive and the Anti-Trafficking Directive;
Amendment 216 #
2021/2243(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls for positive action measures, such as quotas, for women facing intersectional discrimination in public institutions, including in the EU institutions, as a way to promote public institutions that reflect the diversity of society that do not discriminate against women while taking measures to ensure that the excellency of candidates is not compromised;
Amendment 230 #
2021/2243(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Calls for the Member States and the EU to provide implicit bias and awareness-raising training courses within theirconsider the effects of implicit bias within its institutions, including in judicial institutions, asylum processing and intake centres, education, and for the police, healthcare professionals and other civil servants, and to addressconsider the effects of the implicit biases on decisions, actions and interactions generated resulting from persistent stereotypes, and the under- representation of certain groups in these sectors;
Amendment 245 #
2021/2243(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Calls on the Member States to ensure that the Council Framework Decision on combating racism and xenophobia13 , the Racial Equality Directive and the Employment Equality Directive are consistently implementedimplemented as consistently as all other EU directives; _________________ 13 Council Framework Decision 2008/913/JHA of 28 November 2008 on combating certain forms and expressions of racism and xenophobia by means of criminal law, OJ L 328, 6.12.2008, p. 55.
Amendment 250 #
2021/2243(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls forStresses the ability of individual Member States to organize awareness- raising campaigns to combat the gender and diversity segregation of the labour market, with the aim of countering prevalent prejudices, as manifested in the structural barriers faced by Roma and Muslim women, trans migrants and asylum seekers, and women with disabilities among others;
Amendment 257 #
2021/2243(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls on the Member States toEncourages Member States to review their own labour markets and examine the possibility of supporting the creation of new legal pathways across sectors, including for medium- and low- skilled workers, that promote autonomy, decent work and social inclusion; notes that these measures can lead to a robust economy that is beneficial to all of its citizens;
Amendment 275 #
2021/2243(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Calls on theEncourages Member States to ensureconsider universal health coverage and to urgently remove the barriers that exist to healthcare for all, including for undocumented migrantsconsider removing existing barriers to healthcare for all;
Amendment 281 #
2021/2243(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls on theEncourages Member States to adopt and implement strategies, policies and programmes to advance the SRHR of marginalised groups of women and to eradic; stresses thate the systemic, financial, legal, practical and social barriers they facissue of women's health affects the health of her entire family, and thus society as a larger whole;
Amendment 292 #
2021/2243(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Encourages the Member StatesUnderlines Member States have the right to ensure accessible and transparent legal gender recognition procedures based on self-determination and to recognise trans, non-binary and intersex people in law;
Amendment 23 #
2021/2213(INI)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Calls on the Commission to support all activities related to the development of science, technology, research, innovation and digital transformation, which make a significant contribution to accelerating sustainable development and to support the OACPS countries in their determined efforts towards this process; insists that the implementation of the trade-related provisions of the new OACPS-EU Partnership Agreement must leave no one behind, contribute to stimulating and increasing strategic investment, create jobs, strengthen the role of the private sector and enhance economic and trade cooperation;
Amendment 48 #
2021/2213(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Stresses that our mutual relationship should be based on common values and economic relations must to develop on a partnership basis; underlines that our common goal is to ensure stability and prosperity, that will guarantee sustainable economic and social growth;
Amendment 50 #
2021/2213(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Insists that the Post-Cotonou Agreement should be concluded as a mixed agreement, with the European Union and its Member States and the 79 countries of the African, Caribbean and Pacific Group of States being parties to the Agreement;
Amendment 6 #
2021/2176(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas, by contributing to economic growth, job creation and integration in global value chains, foreign investment benefit host countries as well as economies in the EU;
Amendment 28 #
2021/2176(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Stresses that the main objective of EU investment protection policy is to guarantee that EU investors have abroad at least a level playing field with a basic protection in comparison with what foreign investors enjoy in the EU;
Amendment 34 #
2021/2176(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Calls on the remaining Member States to proceed with internal ratification of investment protection agreements with Canada, Singapore and Vietnam so they enter into force and create favourable conditions and protection for EU investors in these countries;
Amendment 83 #
2021/2176(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Is concerned that recent EU IIAs still contain broad protection standards which can be used to challenge legitimate public policies; asks the Commission to only allow protection against discrimination, direct expropriation and the gross denial of justice, and to ensure that foreign investors are not accorded superior rights to those enjoyed by domestic investors;
Amendment 107 #
2021/2176(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls on the Member States to terminate or modernise any“old style” bilateral investment treaties that contain ISDS, any tre, with an aim of incorporatiesng that contain protection standards beyond protection against direct expropriation, nationality-based discrimination or the gross denial of justice, and any treaties that protect fossil fuel investmentse new EU reform approach including sustainability objectives and replacing the ISDS by the Investment Court System;
Amendment 126 #
2021/2176(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Points out that the ECT is the most litigated investment agreement in the world today; welcomefully supports efforts to modernise the ECT and the EU’s position to exclude protection for most fossil fuel investments; notes that investments considered ‘significantly harmful’ under the EU taxonomy would remain protected according to the EU’s position; underlines that amending the ECT requires unanimity of all contracting parties voting at the annual conference;
Amendment 129 #
2021/2176(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 147 #
2021/2176(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Notes that in the context of the UNCITRAL Working Group III discussions, the EU and its Member States are pursuing the establishment of a standing mechanism to resolve investment disputes: the multilateral investment court; stresses, however, that this proposal does not cover the modernisation of substantive protection standard and fully supports this process;
Amendment 162 #
2021/2176(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Welcomes the fact that a large number of developing countries are participating in the WTO negotiations on Investment facilitation for Development; points out that investment facilitation contributes to unlocking investment opportunities in developing countries, notably for small and medium-sized enterprises and to achieving the Sustainable Development Goals; encourages the Commission to proactively engage in those negotiations by the end of the year with a view to agreeing on a meaningful set of rules among WTO Members; invites the Commission to also pursue bilateral investment facilitation negotiations with African partners;
Amendment 5 #
2021/2106(DEC)
Draft opinion
Paragraph 1 c (new)
Paragraph 1 c (new)
Amendment 33 #
2021/2020(INI)
Motion for a resolution
Recital A
Recital A
A. whereas gender equality in the EU has not yet been achieved and progress in this direction has recently been slowing down, stagnating or even regressing in certain regions and countries; whereas the struggle for gender equality and the promotion and protection of women’s rights is a truly collective responsibility;
Amendment 55 #
2021/2020(INI)
Motion for a resolution
Recital C
Recital C
C. whereas the COVID-19 pandemic has exacerbated existing gender inequalities in almost every walk of life;
Amendment 66 #
2021/2020(INI)
Motion for a resolution
Recital D
Recital D
D. whereas violence against women may be of differing appearance, intensity and form; whereas a society free of violence must be acknowledged afighting the violence and its causes and supporting its victims is an absolute prerequisite for equality;
Amendment 78 #
2021/2020(INI)
Motion for a resolution
Recital E
Recital E
E. whereas women in the EU are more severely affected by poverty or social exclusion than men, being systematically placed at a disadvantage by structural and cultural factors;
Amendment 100 #
2021/2020(INI)
Motion for a resolution
Recital G
Recital G
G. whereas their role as primary caregivers within the family imposes a disproportionate burden of unpaid care and domestic work on women, who play a vital role in this respect;
Amendment 104 #
2021/2020(INI)
Motion for a resolution
Recital H
Recital H
Amendment 123 #
2021/2020(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Stresses that respect for the right to work is an essential precondition if women are effectively to enjoy equal rights, economic independence and career fulfilment and therefore insists that precarious employment should be eradicated through mandatory compliance with the principle that every permanent job must entail an effective employment relationship with recognition and enhancement of rights at the workplareduced where possible; notes, however, that it is not possible to provide for permanent work contracts in every circumstance;
Amendment 130 #
2021/2020(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Calls on the Member States to take practical measures to ensure that women have equal access to work with rights and decent pay; stresses the need to promote collective bargaining as a determining factor in reversing and overcoming inequality and tackling discrimination against women and calls for de jure and de facto compliance with the principle of equal pay for equal work of equal value;
Amendment 138 #
2021/2020(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
Amendment 151 #
2021/2020(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Calls on the EU and its Member States to further underpin maternity and paternity entitlements, for example by increasing periods of full leave with no loss of pay, taking into account the World Health Organization recommendation that children be exclusively breastfed for the first six months of their lives; calls for the right to a reduction in working hours following maternity leave to be guaranteed in practice, enaba review of existing polices to better enable willing mothers to breastfeed their children until they are at least two years old, accompanied by investment in a public network of free childcare and education services;
Amendment 156 #
2021/2020(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
Amendment 192 #
2021/2020(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Stresses the urgent need to counter the exploitation of women at work and combat the inequalities, discrimination, harassment and violence affecting them;
Amendment 214 #
2021/2020(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses that prostitutiontrafficking constitutes a serious form of violence and exploitation affecting mostly women and children; notes that the root causes of prostitution are inextricably intertwined with social and economic realities, particularly unemployment, financial need and poverty; stresses the need for Member States to increase funding for social support and access to public services for victims of trafficking or sexual exploitation;
Amendment 225 #
2021/2020(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
Amendment 239 #
2021/2020(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
Amendment 249 #
2021/2020(INI)
12. Stresses the need for Member States to adopt a policy placing special emphasis on improved public health and the prevention of disease by guaranteeing free, universalaccessible and high-quality healthcare and ensuring the availability of the necessary resources to combat the main public health problems;
Amendment 257 #
2021/2020(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Stresses the need to create a public crèche and pre-school education network; points out that the provision of a universal public service that is genuinely accessible to all children and families wishing to avail themselves ofuse it is an overarching social responsibility;
Amendment 273 #
2021/2020(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Recognises that it is essential to ensure a broad set of effective economic and social measures to combat discriminatory attitudes and practices and enabling women to exercise their civic and political rights on an equal basiscounteract discriminatory attitudes and practices towards women, especially those in exposed positions such as politicians or journalists who often face discriminatory attitudes towards them;
Amendment 32 #
2021/0434(CNS)
Proposal for a directive
Recital 1 a (new)
Recital 1 a (new)
(1a) The lack of an international instrument on the misuse of shell entities for tax purposes creates a significant loophole in the global efforts to combat tax fraud and evasion and aggressive tax planning. The absence of such an instrument confirms the importance of the legal standards laid down in this Directive. It is essential to guarantee that the obligations provided for in this Directive are proportionate, effective and neutral from a taxation point of view, preserving the competitiveness of European undertakings.
Amendment 34 #
2021/0434(CNS)
Proposal for a directive
Recital 1 b (new)
Recital 1 b (new)
(1b) The misuse of shell entities for tax purposes leads to a reduction in tax liability and the tax loss within the Union, which is estimated at around EUR 20 billion per year. It is therefore essential that this Directive set ambitious and proportionate standards for the definition of common minimum substance requirements, for the improvement of exchange of information between national tax administrations and for the dissuasion of the use of shell entities promoted by certain intermediaries.
Amendment 35 #
2021/0434(CNS)
Proposal for a directive
Recital 2
Recital 2
(2) It is acknowledged that undertakings with no minimal substance may be set up in a Member State with the main objective of obtaining a tax advantage, notably by eroding the tax base of another Member State. While some Member States have developed a legislative or administrative framework to protect their tax base from such schemes, the relevant rules often have a limited effect, as they only apply in the territory of a single Member State and do not effectively capture situations that involve more than one Member State. Furthermore, the national rules that apply in this field significantly differ across the Union while some Member States have no rules at all, to tackle the misuse of undertakings with no or minimal substance for tax purposes. It is therefore important to create a Union- wide legal approach to ensure a framework for loyal and fair tax competition and safeguard the integrity of the internal market.
Amendment 39 #
2021/0434(CNS)
Proposal for a directive
Recital 3 a (new)
Recital 3 a (new)
(3a) Taking into consideration the real risk of low capacity of Member States’ tax administrations and the risk that the existing administrative cooperation may at this point be inadequate for the purpose of this Directive, it is of utmost importance that the capacities of tax administrations be reinforced and that the exchange of information be improved across the Union. It is necessary that Member States share the relevant information to which they have access, implement systems supporting the exchange of that information and as a final step, enforce proposed sanctions against non-complying entities. In support of this Directive, the Commission should suggest specific activities within the Fiscalis programme.
Amendment 46 #
2021/0434(CNS)
Proposal for a directive
Recital 5
Recital 5
(5) To ensure the proper functioning of the internal market, the proportionality and effectiveness of potential rules, it would be desirable to limit their scope to undertakings which are at risk of being found to lack minimal substance and used with the main objective ofmainly to obtaining a tax advantage. It would therefore be important to establish a gateway criterion, in the form of a set of three cumulative, indicative conditions, in order to conclude which undertakings are sufficiently at risk as aforementioned to justify that they be subjected to reporting requirements. Undertakings should do the gateway test themselves in the form of a self-assessment. A first condition should enable the identification of undertakings presumably engaged mainly in geographically mobile economic activities, as the place where such activities are actually carried out is usually more challenging to identify. Such activities normally give rise to important passive income flows. Hence, undertakings, which income consists predominantly of passive income flows would meet this condition. It should also be taken into account that entities holding assets for private use, such as real estate, yachts, jets, artworks, or equity alone, may have no income for longer periods of time, but still enable significant tax benefits by way of owning those assets. As purely domestic situations would not pose a risk for the good functioning of the internal market and would be best addressed at domestic level, a second condition should focus on undertakings engaged in cross- border activities. Engagement in cross- border activities should be established as having regard, on the one hand, to the nature of the transactions of the undertaking, domestic or foreign, and on the other, to its property, given that entities that only hold assets for private, non-business, use may not engage in transactions for a considerable time. Additionally, a third condition should point out to those undertakings which have no or inadequate own resources to perform core management activities. In this regard, undertakings that do not have adequate own resources tend to engage third party providers of administration, management, correspondence and legal compliance services or enter into relevant agreements with associated enterprises for the supply of such services in order to set up and maintain a legal and tax presence. Outsourcing of certain ancillary services only, such as bookkeeping services alone, while core activities remain with the undertaking, would not suffice in itself for an undertaking to meet this condition. While such service providers might be regulated for other, non-tax purposes, their obligations for such other purposes cannot always mitigate the risk that they enable the set up and maintenance of undertakings misused for tax avoidance and evasion practices.
Amendment 62 #
2021/0434(CNS)
Proposal for a directive
Recital 13
Recital 13
(13) To ensure effectiveness of the proposed framework, it is necessary to establish appropriate tax consequences for undertakings that do not have minimal substance for tax purposes . Undertakings that have crossed the gateway criterion and are presumed to be lacking substance for tax purposes while, additionally, have not provided evidence to the contrary or evidence that they do not serve the objective of also not having disproven that they are attempting to obtaining a tax advantage, should not be allowed to benefit from the provisions of agreements and conventions that provide for the elimination of double taxation of income, and, where applicable, capital, to which the Member State of their tax residence is a party and. These undertakings may neither benefit from provisions stipulated by relevant international agreements for the promotion and protection of investments, nor may they benefit from any other agreements, including provisions in international agreements for the promotion and protection of investments, with equivalent purpose or effect. Such undertakings should not be allowed to benefit from Council Directive 2011/96/EU14 and Council Directive 2003/49/EC15. To this effect, those undertakings should not be entitled to a certificate of tax residence to the extent that this serves to obtain those benefits. The Member State where the undertaking is resident for tax purposes should therefore denyrefuse to issue a certificate of tax residence. Alternatively, that Member State should be able to issue such certificate while indicating, by means of a warn and issue a warning statement detailing, that it should not be used by the undertaking to obtain tax benefits as above. This denial of a certificate of tax residence, or alternatively the issue of a special certificate of tax residence,e grounds on which the decision was based. This denial of a certificate of tax residence should not set aside the national rules of the Member State of the undertaking with regard to the tax residence and relevant obligations linked thereto. It would rather serve to communicate to other Member States, and third countries, that no relief or refund should be granted with regard to transactions involving this undertaking based on any treaty with the Member State of the undertaking or Union directives, if applicable. __________________ 14 Council Directive 2011/96/EU of 30 November 2011 on the common system of taxation applicable in the case of parent companies and subsidiaries of different Member States (OJ L 345, 29.12.2011, p. 8). 15 Council Directive 2003/49/EC of 3 June 2003 on a common system of taxation applicable to interest and royalty payments made between associated companies of different Member States (OJ L 157, 26.6.2003, p. 49).
Amendment 71 #
2021/0434(CNS)
Proposal for a directive
Recital 16
Recital 16
(16) In order to improve effectiveness, Member States should lay down penalties against the violation of the national rules that transpose this Directive. Such penalties should be effective, proportionate and dissuasive. To ensure tax certainty and a minimum level of coordination across all Member States, it is necessary to fix a minimum monetary penalty, also taking into account the situation of each specific undertaking. The envisaged rules rely on a self-assessment performed by the undertakings as regardsto determine whether or not they meet the gateway criteria. To achieve effectiveness of the provisions, incentivising adequate compliance across the Union, and taking into account that a shell undertaking in one Member State may be used to erode the tax base of another Member State, it is important that any Member State has the right to request another Member State to conduct tax audits of undertakings at risk ofor not fulfilling minimum substance as defined in this Directive. Accordingly, to reinforce effectiveness, it is essential that the requested Member State has an obligation to carry out such an audit and to share information on the outcome, even where there is no finding of a ‘shell’ entity. Joint audits allow for the pooling of expertise, thereby ensuring a complete picture of the facts and promoting acceptance of the audit results. Council Directive (EU) 2021/5141a created a uniform framework for joint audits and where appropriate, this is the metric that may be used. ______________________ 1a Council Directive (EU) 2021/514 of 22 March 2021 amending Directive 2011/16/EU on administrative cooperation in the field of taxation (ABl. L 104 vom 25.3.2021, S. 1).
Amendment 94 #
2021/0434(CNS)
Proposal for a directive
Article 6 – paragraph 1 – point c – introductory part
Article 6 – paragraph 1 – point c – introductory part
(c) in the preceding two tax years, the undertaking outsourced the administration of day-to-day operations and the decision- making on significant functions to an entity that is not an associated enterprise within the same jurisdiction as the undertaking in question.
Amendment 114 #
2021/0434(CNS)
Proposal for a directive
Article 6 – paragraph 2 – point e
Article 6 – paragraph 2 – point e
(e) undertakings with at least five own full-time equivalent employees or members of staff exclusively carrying out the activities generating the relevant incomeorking in the jurisdiction where the undertaking is resident for tax purposes;
Amendment 172 #
2021/0434(CNS)
Proposal for a directive
Article 12 – paragraph 1 a (new)
Article 12 – paragraph 1 a (new)
When denying a request for a certificate of tax residence, the Member State shall issue an official document duly justifying such decision and prescribing that the undertaking is not entitled to the benefits of agreements and conventions that provide for the elimination of double taxation of income, and, where applicable, capital, or of international agreements with a similar purpose or effect and of Articles 4, 5 and 6 of Directive 2011/96/EU and Article 1 of Directive 2003/49/EC.
Amendment 58 #
2021/0402(COD)
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4a) Article 21(2e) of the Treaty of the European Union requires the Union to encourage the integration of all countries into the world economy, including through the progressive abolition of restrictions on international trade.
Amendment 59 #
2021/0402(COD)
Proposal for a regulation
Recital 4 b (new)
Recital 4 b (new)
(4b) Article 22(1) of the Treaty of the European Union requires the European Council to identify the strategic interests and objectives of the European Union.
Amendment 145 #
2021/0402(COD)
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
Following an examination carried out in accordance with Article 3, the Commission shall adopt a decision after consulting the European Parliament and the Council determining whether the measure of the third country concerned meets the conditions set out in Article 2(1). The Commission shall act expeditiously.
Amendment 202 #
2021/0402(COD)
Proposal for a regulation
Article 7 – paragraph 6 a (new)
Article 7 – paragraph 6 a (new)
6 a. If a Member state of the Union believes that the measures taken by the Commission are interfering with its foreign policy, it may refer the case to the European Council.
Amendment 212 #
2021/0402(COD)
Proposal for a regulation
Article 8 – paragraph 4 a (new)
Article 8 – paragraph 4 a (new)
4 a. If a Member state of the Union believes that the measures taken by the Commission are interfering with its foreign policy, it may refer the case to the European Council.
Amendment 103 #
2021/0385(COD)
Proposal for a regulation
Title 1
Title 1
Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Regulation (EU) No 600/2014 as regards enhancing market data transparency, removing obstacles to the emergence of a consolidated tape, optimising the trading obligations and prohibiting receiving payments for forwardingregulating the forwarding and execution of client orders (Text with EEA relevance)
Amendment 165 #
2021/0385(COD)
Proposal for a regulation
Recital 23 a (new)
Recital 23 a (new)
(23 a) The desired outcome would be to provide end investors with a user-friendly and truly consolidated overview of trading opportunities as well as lower costs through increased competition, to increase the attractiveness and competitiveness of EU capital markets and firms, and to foster the growth and well-functioning of the Capital Markets Union.
Amendment 173 #
2021/0385(COD)
Proposal for a regulation
Recital 32
Recital 32
(32) Financial intermediaries should strive to achieve the best possible price and the highest possible likelihood of execution for trades that they execute on behalf of their clients. To that end, financial intermediaries should select the trading venue or counterparty for executing their client trades solely on the basis of achieving best execution for their clients. It should be incompatible with that principle of best execution that a financial intermediary receives a payment from a trading counterpart in exchange for ensuring the execution of client trades, when acting on behalf of its clients, receives a fee, a commission or any non-monetary benefit from a third party for routing client orders for execution by that third party as execution venue. Investment firms should be therefore be prohibited from receiving such payment or other non-monetary benefit.
Amendment 189 #
2021/0385(COD)
Proposal for a regulation
Article 1 – paragraph 2 – point d
Article 1 – paragraph 2 – point d
Regulation (EU) No 600/2014
Article 2 – paragraph 1 – point 36b – point a – point i
Article 2 – paragraph 1 – point 36b – point a – point i
(i) thfor lit continuous trading mechanisms, the five best bids and offers prices with corresponding volumes available at those prices;
Amendment 194 #
2021/0385(COD)
Proposal for a regulation
Article 1 – paragraph 2 – point d
Article 1 – paragraph 2 – point d
Regulatoin (EU) No 600/2014
Article 2 – paragraph 1 – point 36b – point a – point ii
Article 2 – paragraph 1 – point 36b – point a – point ii
(ii) for price-forming trades across all trading mechanisms, the transaction price and volume executed at the stated price, the transaction time, the trading protocol, applicable waivers and deferrals in accordance with the industry standard Market Model Typology;
Amendment 210 #
2021/0385(COD)
Proposal for a regulation
Article 1 – paragraph 2 – point d
Article 1 – paragraph 2 – point d
Regulation (EU) No 600/2014
Article 2 – paragraph 1 – point 36b – point a – point vii – indent 1
Article 2 – paragraph 1 – point 36b – point a – point vii – indent 1
— the venue's time of execution of the trade or of amendment to the best bid or offer price or volume, amendment to the indicative price or volume, and amendment to the trading status of an instrument;
Amendment 213 #
2021/0385(COD)
Proposal for a regulation
Article 1 – paragraph 2 – point d
Article 1 – paragraph 2 – point d
Regulation (EU) No 600/2014
Article 2 – paragraph 1 – point 36b – point a – point vii – indent 2
Article 2 – paragraph 1 – point 36b – point a – point vii – indent 2
— the venue's time of publication of the trade, updated bid or offer price or volume, updated indicative price or volume, and amendment to the trading status of an instrument;
Amendment 216 #
2021/0385(COD)
Proposal for a regulation
Article 1 – paragraph 2 – point d
Article 1 – paragraph 2 – point d
Regulation (EU) No 600/2014
Article 2 – paragraph 1 – point 36b – point a – point vii – indent 3
Article 2 – paragraph 1 – point 36b – point a – point vii – indent 3
— the consolidated tape provider's receipt of market data from the market data contributors;
Amendment 221 #
2021/0385(COD)
Proposal for a regulation
Article 1 – paragraph 2 – point d
Article 1 – paragraph 2 – point d
Regulation (EU) No 600/2014
Article 2 – paragraph 1 – point 36b – point a – point vii – indent 5
Article 2 – paragraph 1 – point 36b – point a – point vii – indent 5
— the dissemination by the consolidated tape provider of consolidated market data to subscribers;
Amendment 433 #
2021/0385(COD)
Proposal for a regulation
Article 1 – paragraph 16
Article 1 – paragraph 16
Regulation (EU) No 600/2014
Article 27h – paragraph 4
Article 27h – paragraph 4
4. After 12 months of full operation of the CTP for shares, ESMA shall provide the Commission with an evidence-based motivated opinion on the effectiveness and fairness of the level of participation of regulated marketmarket data contributors in the revenues generated by the CTP as set out in accordance with the second subparagraph of paragraph 1. The Commission may request ESMA to provide further opinions, where necessary or appropriate. The Commission shall be empowered to adopt a delegated act in accordance with Article 50 to revise the allocation key for the revenue redistribution, where appropriate.;
Amendment 448 #
2021/0385(COD)
Proposal for a regulation
Article 1 – paragraph 26
Article 1 – paragraph 26
Regulation (EU) No 600/2014
Article 39 a (new) – Title
Article 39 a (new) – Title
Article 39a Ban on payment for forwarding client orders for executionand/or execution of client orders
Amendment 459 #
2021/0385(COD)
Proposal for a regulation
Article 1 – paragraph 26
Article 1 – paragraph 26
Regulation (EU) No 600/2014
Article 39a
Article 39a
Investment firms executing orders on behalf of a retail client shall take all necessary steps to obtain the best possible price for their clients, net of costs relating to execution, which shall include all expenses directly related to the execution of the order, including execution venue fees, clearing and settlement fees and any other fees paid to third parties involved in the execution of the order. Investment firms acting on behalf of clients shall not receive or accept, directly or indirectly, any fee or commission or any monetary or non-monetary benefits from any third party for forwarding client orders to such third party for their execution.;paid or provided by any third party in relation to the forwarding or execution of orders. The Commission shall adopt a delegated act in accordance with Article 50 by ... [12 months after the date of entry into force of this amending Regulation] to specify the market practices falling under the provision of the first subparagraph of this Article. The Commission shall regularly update that delegated act to account for the development of new market practices.
Amendment 56 #
2021/0380(COD)
Proposal for a regulation
Recital 11 – indent 3
Recital 11 – indent 3
Amendment 57 #
2021/0380(COD)
Proposal for a regulation
Recital 11 – indent 7
Recital 11 – indent 7
Amendment 59 #
2021/0380(COD)
Proposal for a regulation
Recital 11 – indent 20
Recital 11 – indent 20
Amendment 61 #
2021/0380(COD)
Proposal for a regulation
Recital 11 – indent 21
Recital 11 – indent 21
Amendment 71 #
2021/0380(COD)
Proposal for a regulation
Article 3
Article 3
Regulation (EU) No 648/2012
Article 38a
Article 38a
Amendment 78 #
2021/0380(COD)
Proposal for a regulation
Article 7
Article 7
Regulation (EU) No 537/2014
Article 13a
Article 13a
Amendment 83 #
2021/0380(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
Regulation (EU) No 909/2014
Article 74a – paragraph –1 (new)
Article 74a – paragraph –1 (new)
-1. In order to support the provision of accurate, timely and complete information on penalties under Article 7 of Regulation (EU) No 909/2014, all information necessary for the calculation of cash penalty amounts under the Settlement Discipline Regime shall be centralised in the ESAP.
Amendment 84 #
2021/0380(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
Regulation (EU) No 909/2014
Article 74a – paragraph 1 – subparagraph 1
Article 74a – paragraph 1 – subparagraph 1
1. From 1 January 20267, when making public any information pursuant to Article 7(1), Article 7(9), Article 26(4), Article 27(4), Article 27(7), Article 28(2), Article 33(1), Article 33(2), Article 34(1), Article 38(6), Article 39(3), Article 41(2), Article 54(3), point (e), Article 54(4), point (f) and Article 59(4), point (j) of this Regulation, the CSD4) of this Regulation, the reporting entities shall submit that information to the relevant collection body referred to in paragraph 3 of this Article at the same time for accessibility on ESAP established under Regulation (EU) XX/XXXX [ESAP Regulation] of the European Parliament and of the Council*.
Amendment 86 #
2021/0380(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
Regulation (EU) No 909/2014
Article 74a – paragraph 1 – subparagraph 2
Article 74a – paragraph 1 – subparagraph 2
Amendment 87 #
2021/0380(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
Regulation (EU) No 909/2014
Article 74a – paragraph 2
Article 74a – paragraph 2
Amendment 88 #
2021/0380(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
Regulation (EU) No 909/2014
Article 74a – paragraph 3 – subparagraph 2
Article 74a – paragraph 3 – subparagraph 2
From 1 January 2026, for the purposes of making accessible on ESAP the information referred to in Article 12(2) and Article 62, the collection body as defined in Article 2, point (2), of Regulation (EU) XX/XXXX [ESAP Regulation] shall be ESMA. That information shall be prepared in a data extractable format as defined in Article 2, point (3), of Regulation (EU) XX/XXXX [ESAP Regulation], include the name and, where available, the legal entity identifier of the CSD as specified under Article 7(4) of that Regulation, and the type of information as classified pursuant to Article 7(4) of that Regulation.
Amendment 90 #
2021/0380(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
Regulation (EU) No 909/2014
Article 74a – paragraph 4 – subparagraph 1 – introductory part
Article 74a – paragraph 4 – subparagraph 1 – introductory part
4. For the purposes of ensuring an efficient collection and administration of data submitted in accordance with paragraph 1, points (a) and (b), ESMA shall develop draft implementing technical standards to specify:
Amendment 91 #
2021/0380(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
Regulation (EU) No 909/2014
Article 74a – paragraph 4 – subparagraph 1 – point –a (new)
Article 74a – paragraph 4 – subparagraph 1 – point –a (new)
(-a) the list of financial instruments that fall within the scope of this Regulation and category of each such instrument.
Amendment 92 #
2021/0380(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
Regulation (EU) No 909/2014
Article 74a – paragraph 4 – subparagraph 1 – point a
Article 74a – paragraph 4 – subparagraph 1 – point a
Amendment 93 #
2021/0380(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
Regulation (EU) No 909/2014
Article 74a – paragraph 4 – subparagraph 1 – point b
Article 74a – paragraph 4 – subparagraph 1 – point b
Amendment 94 #
2021/0380(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
Regulation (EU) No 909/2014
Article 74a – paragraph 4 – subparagraph 1 – point c
Article 74a – paragraph 4 – subparagraph 1 – point c
Amendment 109 #
2021/0380(COD)
Proposal for a regulation
Article 15 – paragraph 1
Article 15 – paragraph 1
Regulation (EU) 2017/1129
Article 21a – paragraph 3 – subparagraph 2
Article 21a – paragraph 3 – subparagraph 2
From 1 January 20245, for the purposes of making accessible on ESAP the information referred to in Articles 25(1), Article 25(4), and Article 26(2), the collection body defined in Article 2, point (2), of Regulation (EU) XX/XXXX [ESAP Regulation] shall be ESMAthe national competent authority. That information shall be prepared in a data extractable format as defined in Article 2, point (3), of Regulation (EU) XX/XXXX [ESAP Regulation], include the names and, where available, the legal entity identifier of the issuer or, where applicable, the offeror as specified pursuant to Article 7(4) of that Regulation, and the type of information as classified pursuant to Article 7(4) of that Regulation.
Amendment 116 #
2021/0380(COD)
Proposal for a regulation
Article 19 – paragraph 1
Article 19 – paragraph 1
Regulation (EU) 2019/2088
Article 18a – paragraph 1 – subparagraph 1
Article 18a – paragraph 1 – subparagraph 1
1. From 1 January 20256, when making public any information pursuant to Article 3(1), Article 3(2), Article 4(1), Article 4(3), Article 4(4), Article 4(5), Article 5(1) and Article 10(1) of this Regulation, financial market participants, with an exception for the institutions for occupational retirement provision referred in article 2(1)c of this Regulation, and financial advisers shall submit that information to the relevant collection body referred to in paragraph 3 of this Article at the same time for accessibility on ESAP established under Regulation (EU) XX/XXXX [ESAP Regulation] of the European Parliament and of the Council*.
Amendment 117 #
Amendment 120 #
Amendment 57 #
2021/0379(COD)
Proposal for a directive
Recital 11 – indent 4
Recital 11 – indent 4
Amendment 58 #
2021/0379(COD)
Proposal for a directive
Recital 11 – indent 9
Recital 11 – indent 9
Amendment 60 #
2021/0379(COD)
Proposal for a directive
Recital 11 – indent 11
Recital 11 – indent 11
Amendment 61 #
2021/0379(COD)
Proposal for a directive
Recital 11 – indent 13
Recital 11 – indent 13
Amendment 62 #
2021/0379(COD)
Proposal for a directive
Recital 11 – indent 14
Recital 11 – indent 14
Amendment 63 #
2021/0379(COD)
Proposal for a directive
Recital 11 – indent 15
Recital 11 – indent 15
Amendment 71 #
2021/0379(COD)
Proposal for a directive
Article 2 – paragraph 1
Article 2 – paragraph 1
Directive 2004/25/EC
Article 16a – paragraph 1 – subparagraph 1
Article 16a – paragraph 1 – subparagraph 1
1. From 1 January 20256, Member States shall ensure that, when making public an information pursuant to Article 4(2), point (c), Article 5(4), Article 6(1), Article 6(2) and Article 9(5) of this Directive, companies submit at the same time that information to the relevant collection body referred to in paragraph 3 of this Article for accessibility on ESAP established under Regulation (EU) XX/XXXX [ESAP Regulation] of the European Parliament and of the Council*.
Amendment 75 #
2021/0379(COD)
Proposal for a directive
Article 4
Article 4
Directive 2006/43/EC
Article 20a
Article 20a
Amendment to Directive 2006/43/EC In Directive 2006/43/EC, the following Article 20a is inserted: ‘Article 20a Accessibility of information on the European Single Access Point (ESAP) 1. From 1 January 2026, Member States shall ensure that, when making public on ESAP the information pursuant to Article 15 and Article 30c of this Directive, the statutory auditor or audit firm submits at the same time that information to the collection body referred to in paragraph 2 of this Article for accessibility on ESAP established under Regulation (EU) XX/XXXX[ESAP Regulation] of the European Parliament and of the Council*. 2. From 1 January 2026, for the purposes of making accessible on ESAP the information referred to in paragraph 1, the collection body as defined in Article 2, point (2), of Regulation (EU) XX/XXXX [ESAP Regulation] shall be the national competent authority in charge of the public register. The information shall be published in a data extractable format as defined in Article 2, point (3), of the Regulation (EU) XX/XXXX [ESAP Regulation], include the names and, where available, the legal entity identifier of the statutory auditor or audit firm, as specified pursuant to Article 7(4) of that Regulation, and include the type of information, as classified pursuant to Article 7(4) of that Regulation. _______________ * Regulation (EU) XX/XXXX of the European Parliament and of the Council establishing a European Single Access Point (ESAP) providing centralised access to information that is publicly available in relation to financial services, capital markets and sustainability (OJ L [...], […], p. […]).rticle 4 deleted
Amendment 80 #
2021/0379(COD)
Proposal for a directive
Article 6 – paragraph 1
Article 6 – paragraph 1
Directive 2009/65/EC
Article 82a – paragraph 1 – subparagraph 1
Article 82a – paragraph 1 – subparagraph 1
1. From 1 January 20267, Member States shall ensure that, when making public any information pursuant to Article 68(1), Article 76, Article 78(1) of this Directive, UCITS submit that information at the same time to the relevant collection body referred to in paragraph 3 of this Article on for accessibility on ESAP established under Regulation (EU) XX/XXXX [ESAP Regulation] of the European Parliament and of the Council*.
Amendment 81 #
2021/0379(COD)
Proposal for a directive
Article 6 – paragraph 1
Article 6 – paragraph 1
Directive 2009/65/EC
Article 82a – paragraph 3 – subparagraph 2
Article 82a – paragraph 3 – subparagraph 2
From 1 January 20267, for the purposes of making accessible on ESAP the information referred to in Article 6(1), the collection body as defined in Article 2, point (2), of Regulation (EU) XX/XXXX [ESAP Regulation] shall be ESMAthe national competent authority. That information shall be prepared in a data extractable format as defined in Article 2, point (3), of Regulation (EU) XX/XXXX [ESAP Regulation], include the names and, where available, the legal entity identifier of the UCITS, as specified pursuant to Article 7(4) of that Regulation, and include the type of information as classified pursuant to Article 7(4) of that Regulation.
Amendment 92 #
Amendment 98 #
Amendment 108 #
2021/0379(COD)
Proposal for a directive
Article 13
Article 13
Directive (EU) 2016/97
Article 40a
Article 40a
Amendment to Directive (EU) 2016/97 In Directive (EU) 2016/97, the following article 40a is inserted: ‘Article 40a Accessibility of information on the European Single Access Point (ESAP) From 1 January 2026, for the purposes of making accessible on ESAP the information referred to in Article 32(1) and Article 32(2) of this Directive, the collection body as defined in Article 2, point (2), of Regulation (EU) XX/XXXX [ESAP Regulation] shall be the competent authority. That information shall be prepared in a data extractable format as defined in Article 2, point (3), of Regulation (EU) XX/XXXX [ESAP Regulation], include the name and - where available - the legal entity identifier of the entity as specified pursuant to Article 7(4) of that Regulation, and the type of information as classified pursuant to Article 7(4) of that Regulation. _______________ * Regulation (EU) XX/XXXX of the European Parliament and of the Council establishing a European Single Access Point (ESAP) providing centralised access to information that is publicly available in relation to financial services, capital markets and sustainability (OJ L [...], […], p. […]).rticle 13 deleted
Amendment 110 #
Amendment 115 #
Amendment 79 #
2021/0378(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) The information to be made publicly accessible on ESAP should be collected by collection bodies designated for the purpose of collecting the information that the entities are under an obligation to make public. In order to ensure the efficient functioning of ESAP, the collection bodies should make the information available to ESAP in automated ways through a single application programming interface. For the information to be digitally usable, entities should make such information available in a data extractable format or, where required by Union law, in a machine- readable format. Compared to data extractable formats, machine-readable formats are file formats structured so that software applications can easily identify, recognise and extract specific data, including individual statements of fact, and their internal structure. Draft implementing technical standards should be drawn up by the European Supervisory Authorities and, when relevant, through the Joint Committee of the European Supervisory Authorities for submission to the Commission, specifying the characteristics of machine readable and data extractable formats and accounting for any evolving technology trends or standards. To ensure that entities submit the information in the correct format and to address possible technical issues encountered by the entities, the collection bodies should provide assistance to those entities.
Amendment 83 #
2021/0378(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) Apart from the information in relation to financial services, capital markets and sustainability that has to be made public under Union law, investors, market participants, advisors and the public at large may have an interest in obtaining other information that an entity wants to make accessible. Small and medium-sized enterprises may want to make more information publicly accessible in order to become more visible to potential investors and thereby increase funding and diversify funding opportunities. Also, market participants may want to provide more information than that required by law or to make public the information required by national law but not available at Union level in order to complement the information provided to the public at the Union level. Any entity governed by the law of a Member State should therefore be allowed to make financial, sustainability- related and other relevant information accessible on ESAP. Pursuant to the principle of data minimisation, entities should ensure that no personal data are included, except where those data constitute a necessary element of the information about their economic activities, including when the name of the entity coincides with the name of the owner. Where such information contains personal data, the entities should ensure that they can rely for such disclosure on one of the lawful grounds of processing laid down in Article 6 of Regulation (EU) 2016/679 of the European Parliament and of the Council26 . _________________ 26 Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ L 119, 4.5.2016, p. 1).
Amendment 87 #
2021/0378(COD)
Proposal for a regulation
Recital 5 a (new)
Recital 5 a (new)
(5 a) Entities submitting information to the collection bodies remain liable for the accuracy and completeness of such information and metadata. Pursuant to the principles of data minimisation and protection, entities should ensure that no personal data are included, except where those data constitute a necessary element of the information about their economic activities, including when the name of the entity coincides with the name of the owner. Where the information submitted contains personal data, entities should ensure that they can rely for the disclosure thereof on one of the lawful grounds of processing laid down in Article 6 of Regulation(EU) 2016/679 of the European Parliament and of the Council1a. _________________ 1a Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ L 119, 4.5.2016, p. 1).
Amendment 96 #
2021/0378(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) Re-using information that is available on ESAP can improve the functioning of the internal market and promote the development of new services that combine and make use of such information. It is therefore necessary, where justified on grounds of a public interest objective, to allow re-use of the information that is available on ESAP for purposes other than the purposes for which the information was drawn up. However, the use and re-use of that information should be subject to objective, proportionate and non-discriminatory conditions. For that purpose, conditions corresponding to those laid down in open, standard licences within the meaning of Directive (EU) 2019/1024 of the European Parliament and of the Council27 should apply. The licensing terms of those standard licences should allow for data and content to be freely accessible, used, modified and shared by anyone for any purpose. ESMANeither ESMA nor the collection bodies should bear noany form of liability for the use and re-use of information accessible on ESAP. The submission of information by the collection bodies should either not be subject to conditions or be subject to an open standard licence enabling the licensing terms applying for information accessible in the ESAP. _________________ 27 Directive (EU) 2019/1024 of the European Parliament and of the Council of 20 June 2019 on open data and the re-use of public sector information (OJ L 172, 26.6.2019, p. 56).
Amendment 98 #
2021/0378(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) The information available on ESAP should be accessible to the public in a timely manner. In that regard, the time between collecting the information and making it accessible to the public should be reasonable and, in any event, as short as technically possible. In order to ensure a uniform quality of information, the collection bodies should perform automated validations and reject invalid information. The validity of the information should be assessed on the basis of its compliance with the requirements of this Regulation and any accompanying amendments to sectoral legislation. In assessing the validity of the information, collection bodies should maintain discretion in rejecting information that falls outside the scope of ESAP and in any case if that information includes manifestly inappropriate or abusive content.
Amendment 124 #
2021/0378(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point b
Article 1 – paragraph 1 – point b
(b) other information of relevance to financial services provided in the Union or to capital markets of the Union or concerning sustainability that any entitiesy governed by the law of a Member State wishes to make accessible on ESAP on a voluntary basis about their economic activities in accordance with Article 3(1) and pursuant to the material reporting requirements listed in the Omnibus Act .
Amendment 131 #
2021/0378(COD)
Proposal for a regulation
Article 3 – paragraph 1 – introductory part
Article 3 – paragraph 1 – introductory part
1. Any natural or legal person may submit to a collection body the information referred to in Article 1(1), point (b) to make that information accessible on ESAP. When submitting that informationre the substance and format of that information does not have the same value and reliability as the information referred to in Article 1(1), point (a), users shall be informed thereof by means of a clear disclaimer. When submitting the information referred to in Article 1(1), point (b) , the natural or legal person shall:
Amendment 156 #
2021/0378(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point a a (new)
Article 5 – paragraph 1 – point a a (new)
(a a) store the information submitted by the entities or, where relevant, generated by the collection bodies themselves;
Amendment 158 #
2021/0378(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point b – point i a (new)
Article 5 – paragraph 1 – point b – point i a (new)
(i a) the information contains the appropriate level of authenticity as specified in the implementing technical standard referred to in Article 5(6), availability, integrity and proof of origin;
Amendment 172 #
2021/0378(COD)
Proposal for a regulation
Article 5 – paragraph 4
Article 5 – paragraph 4
4. Entities shall ensure the accuracyand shall be liable for the accuracy and completeness of the information that they submit to the collection bodies, as well as for the accompanying metadata.
Amendment 192 #
2021/0378(COD)
Proposal for a regulation
Article 8 – paragraph 2 – introductory part
Article 8 – paragraph 2 – introductory part
2. ESMA shall ensure that anyone has direct and immediate access free of charge to the information made available on ESAP.
Amendment 223 #
2021/0378(COD)
Proposal for a regulation
Article 13 – paragraph 1
Article 13 – paragraph 1
By [PO, please insert a date 5 years after the entry into force of this Regulation], the Commission shall review the functioning of ESAP and assess its effectiveness. The Commission shall report to the European Parliament and to the Council on the results of this review. The progressive inclusion of information on ESAP shall be conditioned upon a prior and positive evaluation of an initial phase.
Amendment 335 #
2021/0342(COD)
Proposal for a regulation
Recital 15
Recital 15
Amendment 369 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a a (new)
Article 1 – paragraph 1 – point 1 – point a a (new)
Regulation (EU) No 575/2013
Article 4 – paragraph 1 – point 1 – point b
Article 4 – paragraph 1 – point 1 – point b
(a a) Article 4 paragraph 1 point (1) is replaced by the following "(1) ‘credit institution’ means an undertaking the business of which consists of any of the following: (a) to take deposits or other repayable funds from the public and to grant credits for its own account; (b) to carry out any of the activities referred to in points (3) and (6) of Section A of Annex I to Directive 2014/65/EU of the European Parliament and of the Council ( 6 ), where one of the following applies, but the undertaking is not a commodity and emission allowance dealer, a collective investment undertaking or an insurance undertaking, and where the consolidating supervisor, in consultation with the supervisory college, so decides in order to address potential risks for the financial stability of the Union or, for the purpose of point (iii), potential risks of circumvention: (i) the total value of the consolidated assets of the undertaking is equal to or exceeds EUR 30 billion; (ii) the total value of the assets of the undertaking is less than EUR 30 billion, and the undertaking is part of a group in which the total value of the consolidated assets of all undertakings in that group that individually have total assets of less than EUR 30 billion and that carry out any of the activities referred to in points (3) and (6) of Section A of Annex I to Directive 2014/65/EU is equal to or exceeds EUR 30 billion; or (iii) the total value of the assets of the undertaking is less than EUR 30 billion, and the undertaking is part of a group in which the total value of the consolidated assets of all undertakings in the group that carry out any of the activities referred to in points (3) and (6) of Section A of Annex I to Directive 2014/65/EU is equal to or exceeds EUR 30 billion, where the consolidating supervisor, in consultation with the supervisory college, so decides in order to address potential risks of circumvention and potential risks for the financial stability of the Union; for the purposes of points (b)(ii) and (b)(iii), where the undertaking is part of a third-country group, the total assets of each branch of the third-country group authorised in the Union shall be included in the combined total value of the assets of all undertakings in the group; " Or. en (https://eur-lex.europa.eu/legal-content/EN/AUTO/?uri=celex:32019R2033)
Amendment 590 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 23 – point a
Article 1 – paragraph 1 – point 23 – point a
Regulation (EU) No 575/2013
Article 92 – paragraph 3 – point a – introductory part
Article 92 – paragraph 3 – point a – introductory part
(a) a stand-alone institution in the EU and, for the purposes of complying with the obligations of this Regulation on the basis of its consolidated situation in accordance with Part One, Title II, Chapter 2, an EU parent institution, an EU parent financial holding company and an EU parent mixed financial holding companyinstitutions shall calculate the total risk exposure amount as follows:
Amendment 604 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 23 – point a
Article 1 – paragraph 1 – point 23 – point a
Regulation (EU) No 575/2013
Article 92 – paragraph 3 – point b
Article 92 – paragraph 3 – point b
Amendment 619 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 23 – point a
Article 1 – paragraph 1 – point 23 – point a
Regulation (EU) No 575/2013
Article 92 – paragraph 3 – point c
Article 92 – paragraph 3 – point c
Amendment 637 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 23 – point b
Article 1 – paragraph 1 – point 23 – point b
Regulation (EU) No 575/2013
Article 92 – paragraph 6
Article 92 – paragraph 6
Amendment 687 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 40 – point b
Article 1 – paragraph 1 – point 40 – point b
Regulation (EU) No 575/2013
Article 122 – paragraph 2
Article 122 – paragraph 2
Exposures for which such a credit assessment is not available shall be assigned a risk weight of 100 %., except for exposures to SMEs as defined in Article 5 point (8) which shall be assigned a risk weight of 85%;
Amendment 699 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Article 1 – paragraph 1 – point 41
Regulation (EU) No
Article 122a – paragraph 3 – point a – introductory part
Article 122a – paragraph 3 – point a – introductory part
(a) where the purpose of a specialised lending exposure is to finance the acquisition of physical assets, including ships, aircraft, satellites, railcars, and fleets, and the income to be generated by those assets comes in the form of cash flows generated by the specific physical assets that have been financed and pledged or assigned to the lender by one or several third parties (‘object finance exposures’), institutions shall apply the followinga risk weights: of 100%.
Amendment 703 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point a – point i
Article 122a – paragraph 3 – point a – point i
Amendment 708 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point a – point ii
Article 122a – paragraph 3 – point a – point ii
Amendment 1130 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 166 – point b – introductory part
Article 1 – paragraph 1 – point 166 – point b – introductory part
Regulation (EU) No 575/2013
Article 382
Article 382
(b) the following paragraphs 4a and 4b are inserted: 4a. paragraph 4, an institution may choose to calculate an own funds requirements for CVA risk, using any of the applicable approaches referred to in Article 382a, for those transactions that are excluded in accordance with paragraph 4, where the institution uses eligible hedges determined in accordance with Article 386 to mitigate the CVA risk of those transactions. Institutions shall establish policies to specify where they choose to satisfy their own funds requirements for CVA risk for such transactions. 4b. competent authorities the results of the calculations of the own funds requirements for CVA risk for all the transactions referred to in paragraph 4. For the purposes of that reporting requirement, institutions shall calculate the own funds requirements for CVA risk using the relevant approaches set out in Article 382a(1), that they would have used to satisfy an own funds requirement for CVA risk if those transactions were not excluded from the scope in accordance with paragraph 4. is deleted: By way of derogation from Institutions shall report to their
Amendment 1198 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 375/2013
Article 465 – paragraph 1 – introductory part
Article 465 – paragraph 1 – introductory part
1. By way of derogation from Article 92, paragraphs 3 and 6, parent institutions, parent financial holding companies, parent mixed financial holding companies, stand-alone institutions in the EU or stand-alone subsidiary institutions in Member Stateinstitutions may apply the following factor ‘x’ where calculating TREA:
Amendment 1205 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 1 – point (a)
Article 465 – paragraph 1 – point (a)
(a) 560 % during the period from 1 January 2025 to 31 December 2025;
Amendment 1206 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 1 – point (b)
Article 465 – paragraph 1 – point (b)
(b) 565 % during the period from 1 January 2026 to 31 December 2026;
Amendment 1207 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 1 – point (c)
Article 465 – paragraph 1 – point (c)
(c) 670 % during the period from 1 January 2027 to 31 December 2027;
Amendment 1208 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 1 – point (d)
Article 465 – paragraph 1 – point (d)
Amendment 1209 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 1 – point (e)
Article 465 – paragraph 1 – point (e)
Amendment 1212 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 2 – introductory part
Article 465 – paragraph 2 – introductory part
2. By way of derogation from Article 92(3), point (a), EU parent institutions, EU parent financial holding companies or an EU parent mixed financial holding companies, stand-alone institutions in the EU or stand-alone subsidiary institutions in Member States may, until 31 December 2029, apply the following formula when calculating TREA:
Amendment 1221 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
For the purposes of that calculation, EU parent institutions, EU parent financial holding companies or an EU parent mixed financial holding companies shall take into account the relevant factors ‘x’ referred to in paragraph 1.
Amendment 1226 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 3
Article 465 – paragraph 3
Amendment 1274 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 4
Article 465 – paragraph 4
Amendment 1288 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5
Article 465 – paragraph 5
Amendment 1438 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495d – title
Article 495d – title
Amendment 1441 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495d – paragraph 1
Article 495d – paragraph 1
Amendment 1448 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495d – paragraph 2
Article 495d – paragraph 2
Amendment 1454 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495d – paragraph 2 – subparagraph 2
Article 495d – paragraph 2 – subparagraph 2
Amendment 1456 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495d – paragraph 2 – subparagraph 3
Article 495d – paragraph 2 – subparagraph 3
Amendment 1475 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 200
Article 1 – paragraph 1 – point 200
Regulation (EU) No 575/2013
Article 501
Article 501
(200) in Article 501(2), point (b) is replacedby the following: ‘(b) an SME shall have the meaning laid down in Article 5, point (8);’; (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02013R0575-20220410) is deleted. Or. en
Amendment 1481 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 201
Article 1 – paragraph 1 – point 201
Regulation (EU) No 575/2013
Article 501a
Article 501a
(201) Article 501a(1) is amended as follows: (a) point (a) is replaced by the following: (a) corporate exposure class referred to either in Article 112, point (g), or in Article 147(2), point (c), with the exclusion of exposures in default; (b) point (f) is replaced by the following: ‘(f) the refinancing risk of the exposure by the obligor is low or adequately mitigated, taking into account any subsidies, grants or funding provided by one or more of the entities listed in paragraph 2, points (b)(i) and (b)(ii);deleted. the exposure is assigned to the
Amendment 99 #
2021/0241(COD)
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15a) Most crypto-asset transactions are pseudonymous and transparent, and therefore, present a lower risk of money laundering and terrorist financing due to the inherently transparent and immutable nature of blockchain technology which makes it easier to trace crypto-asset transactions;
Amendment 112 #
2021/0241(COD)
Proposal for a regulation
Recital 22
Recital 22
(22) In order not to impair the efficiency of payment systems and crypto-asset transfer services , and in order to balance the risk of driving transactions underground as a result of overly strict identification requirements against the potential terrorist threat posed by small transfers of funds or crypto-assets , the obligation to check whether information on the payer or the payee , or, for transfers of crypto-assets, the originator and the beneficiary, is accurate should, in the case of transfers of funds where verification has not yet taken place, be imposed only in respect of individual transfers of funds or crypto-assets that exceed EUR 15000, unless the transfer appears to be linked to other transfers of funds or transfers of crypto-assets which together would exceed EUR 15000, the funds or crypto-assets have been received or paid out in cash or in anonymous electronic money, or where there are reasonable grounds for suspecting money laundering or terrorist financing.
Amendment 140 #
2021/0241(COD)
Proposal for a regulation
Recital 45 a (new)
Recital 45 a (new)
(45a) Crypto-asset service providers should be exempted from the requirement to ensure that transfers of crypto-assets are accompanied by detailed information on both the originator and beneficiary of the transfers if they can demonstrate that they have implemented technical measures which pursue the same objectives of the Regulation and provide an equivalent level of prevention against money laundering and terrorist financing. For a technical measure to be considered as achieving an equivalent level of prevention against money laundering and terrorist financing, competent authorities should consider the extent to which they are capable of identifying and tracing illicit activities and identifying suspicious accounts.
Amendment 141 #
2021/0241(COD)
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
This Regulation lays down rules on the information on payers and payees, accompanying transfers of funds, in any currency, and the information on originators and beneficiaries, accompanying transfers of crypto-assets, for the purposes of preventing, detecting and investigating money laundering and, terrorist financing and avoidance of EU sanction, where at least one of the payment or crypto-asset service providers involved in the transfer of funds or crypto- assets is established in the Union.
Amendment 191 #
2021/0241(COD)
Proposal for a regulation
Article 5 – paragraph 2 – point a
Article 5 – paragraph 2 – point a
(a) for transfers of funds exceeding EUR 15000, whether those transfers are carried out in a single transaction or in several transactions which appear to be linked, the information on the payer or the payee in accordance with Article 4;
Amendment 195 #
2021/0241(COD)
Proposal for a regulation
Article 5 – paragraph 2 – point b – introductory part
Article 5 – paragraph 2 – point b – introductory part
(b) for transfers of funds not exceeding EUR 15000 that do not appear to be linked to other transfers of funds which, together with the transfer in question, exceed EUR 15000, at least:
Amendment 200 #
2021/0241(COD)
Proposal for a regulation
Article 6 – paragraph 2 – subparagraph 1 – introductory part
Article 6 – paragraph 2 – subparagraph 1 – introductory part
By way of derogation from Article 4(1), and, where applicable, without prejudice to the information required in accordance with Regulation (EU) No 260/2012, where the payment service provider of the payee is established outside the Union, transfers of funds not exceeding EUR 15000 that do not appear to be linked to other transfers of funds which, together with the transfer in question, exceed EUR 15000, shall be accompanied by at least:
Amendment 234 #
2021/0241(COD)
Proposal for a regulation
Article 14 – paragraph 3 a (new)
Article 14 – paragraph 3 a (new)
3a. By way of derogation from paragraph 1 and paragraph 2, the crypto- asset service provider shall be exempted from the requirement to provide the information listed in this Article for transfers of crypto-assets if it can demonstrate that it has implemented technical measures having an equivalent object or effect as requirement in this Article, allowing the provider to achieve the objectives of this Regulation and effectively prevent money laundering and terrorist financing.
Amendment 260 #
2021/0241(COD)
Proposal for a regulation
Article 15 – paragraph 2 – subparagraph 1 – introductory part
Article 15 – paragraph 2 – subparagraph 1 – introductory part
By way of derogation from Article 14(1), transfers of crypto-assets not exceeding EUR 15 000 that do not appear to be linked to other transfers of crypto-assets which, together with the transfer in question, exceed EUR 15 000, shall be accompanied by at least the following information:
Amendment 270 #
2021/0241(COD)
Proposal for a regulation
Article 16 – paragraph 2
Article 16 – paragraph 2
2. In the case of transfers of crypto- assets exceeding EUR 15 000, whether those transfers are carried out in a single transaction or in several transactions which appear to be linked, before making the crypto-assets available to the beneficiary, the crypto-asset service provider of the beneficiary shall verify the accuracy of the information on the beneficiary referred to in paragraph 1 on the basis of documents, data or information obtained from a reliable and independent source, without prejudice to the requirements laid down in Articles 83 and 84 of Directive (EU) 2015/2366.
Amendment 277 #
2021/0241(COD)
Proposal for a regulation
Article 16 – paragraph 3 – introductory part
Article 16 – paragraph 3 – introductory part
3. In the case of transfers of crypto- assets not exceeding EUR 15 000 that do not appear to be linked to other transfers of crypto-asset which, together with the transfer in question, exceed EUR 15 000, the crypto-asset service provider of the beneficiary shall only verify the accuracy of the information on the beneficiary in the following cases:
Amendment 95 #
2021/0214(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) Existing mechanisms to address the risk of carbon leakage in sectors or sub- sectors at risk of carbon leakage are the transitional free allocation of EU ETS allowances and financial measures to compensate for indirect emission costs incurred from GHG emission costs passed on in electricity prices respectively laid down in Articles 10a(6) and 10b of Directive 2003/87/EC. However, fFree allocation under the EU ETS weakens the price signal that the system provides for the installations receiving it compared to full auctioning and thus affects the incentives for investment into further abatement of emissionsat the level of the benchmark, which safeguardsthe sector- wide incentive to reduce emissions under the ETS, has proven to bean effective measure to reduce the risk of carbon leakage.
Amendment 98 #
2021/0214(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) The CBAM seeks to progressively replace these existing mechanisms by addressing the risk of carbon leakage in a different way, namely by ensuring equivalent carbon pricing for imports and domestic products. The legislative framework should cumulatively ensure that a mechanism is included to provide effective carbon leakage protection, also addressing export markets, as well as a net positive impact on global GHG emissions rather than EU emissions only. To ensure a gradual transition from the current system of free allowances to the CBAM, the CBAM should be progressively phased in while free allowances in sectors covered by the CBAM are phased out, but this transition shall not start before 2030 and only after the EC has tested and verified the effectiveness of the CBAM regulation in terms of protection from the risk of carbon leakage. The combined and transitional application of EU ETS allowances allocated free of charge and of the CBAM should in no case result in more favourable treatment for Union goods compared to goods imported into the customs territory of the Union.
Amendment 175 #
2021/0214(COD)
Proposal for a regulation
Recital 33
Recital 33
(33) Similar technical constraints apply to refinery products, for which it is not possible to unambiguously assign GHG emissions to individual output products. At the same time, the relevant benchmark in the EU ETS does not directly relate to specific products, such as gasoline, diesel or kerosene, but to all refinery output. Due to these constraints, refinery products should be eligible to be included in the scope only if an unambiguous, verifiable and effective methodology is developed in close cooperation with the refining industry.
Amendment 223 #
2021/0214(COD)
Proposal for a regulation
Recital 55 a (new)
Recital 55 a (new)
Amendment 231 #
2021/0214(COD)
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
1. This Regulation establishes a carbon border adjustment mechanism (the ‘CBAM’) for addressing greenhouse gas emissions embedded in the goods referred to in Annex I, upon their importation into the customs territory of the Union, in order to prevent the risk of carbon leakage from the EU, and thus contributing to the reduction of global carbon emissions.
Amendment 260 #
2021/0214(COD)
Proposal for a regulation
Article 2 – paragraph 12
Article 2 – paragraph 12
12. The Union, may conclude agreements with third countries with a view to take account of carbon pricing mechanisms in these countries in the application of Article 9. Such agreements shall not lead to undue preferential treatment of imports from the third countries as regards the CBAM certificates to be surrendered and cannot take into account any carbon pricing mechanisms that are considered to be practices of circumvention within the meaning of Article 27(2).
Amendment 435 #
2021/0214(COD)
Proposal for a regulation
Article 27 – paragraph 3 a (new)
Article 27 – paragraph 3 a (new)
3 a. 3a. Other interested parties, such as environmental organisations and non- governmental organisations, which find concrete evidence of circumvention of this Regulation, may also notify the Commission of their findings.
Amendment 463 #
2021/0214(COD)
Proposal for a regulation
Article 29 a (new)
Article 29 a (new)
Article 29 a The Commission shall in a timely manner establish an effective compensation mechanism, according to the procedures established in articles 28 and 29, for damages caused by unforeseen reactions of third countries as a result of the implementation of the CBAM regulation.
Amendment 482 #
2021/0214(COD)
Proposal for a regulation
Article 30 – paragraph 2
Article 30 – paragraph 2
2. Before the end of the transitional period, the Commission shall present a report to the European Parliament and the Council on the application of this Regulation. The report shall contain, in particular, an in-depthe assessment, developed in close cooperation with the industrial sectors, of the possibilities to further extend the scope of embedded emissions to indirect emissions and to other goods at risk of carbon leakage than those already covered by this Regulation, as well as an assessment of the governance system. It shall also contain the assessment of the possibility to further extend the scope to embedded emissions of transportation services as well as to goods further down the value chain and services that may be subject to the risk of carbon leakage in the future.
Amendment 493 #
2021/0214(COD)
Proposal for a regulation
Article 30 a (new)
Article 30 a (new)
Amendment 52 #
2021/0114(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) It iscould therefore necessarybe useful to complement existing Union instruments with a new tool to effectively deal with distortions in the internal market caused by foreign subsidies and ensure a level playing field. In particular, the new tool complements Union State aid rules which deal with distortions in the internal market caused by Member State subsidies.
Amendment 55 #
2021/0114(COD)
Proposal for a regulation
Recital 7
Recital 7
(7) To ensure a level playing field throughout the internal market and consistency in the application of this Regulation, the Commission should be the sole authority competent to apply this Regulation. The Commission should have the power to examine any foreign subsidy to the extent it is in the scope of this Regulation in any sector of the economy on its own initiative relying on information from all available sources. To ensure effective control, in the specific case of large concentrations (mergers and acquisitions) and public procurement procedures above certain thresholds, the Commission should have the power to review foreign subsidies based on a prior notification by the undertaking to the Commission.
Amendment 65 #
2021/0114(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) Such a financial contribution should confer a benefit to an undertaking engaging in an economic activity in the internal market. A financial contribution that benefits an entity engaging in non- economic activities does not constitute a foreign subsidy. The existence of a benefit should be determined on the basis of comparative benchmarks, such as the investment practice of private investors, rates for financing obtainable on the market, a comparable tax treatment, tailored lending conditions, or the adequate remuneration for a given good or service.. If no directly comparable benchmarks are available, existing benchmarks could be adjusted or alternative benchmarks could be established based on generally accepted assessment methods.
Amendment 77 #
2021/0114(COD)
Proposal for a regulation
Recital 16
Recital 16
(16) The Commission should take into account the positive effects of the foreign subsidy on the development of the relevant subsidised economic activity. The Commission should weigh these positive effects against the negative effects of a foreign subsidy in terms of distortion on the internal market in order to determine, if applicable, the appropriate redressive measure or to accept commitments. The balancing may also lead to the conclusion that no redressive measures should be imposed. Categories of foreign subsidies that are deemed most likely to distort the internal market are less likely to have more positivecan be predicted to have overwhelmingly negative rather than negapositive effects.
Amendment 117 #
2021/0114(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
(2) This Regulation addresses foreign subsidies grantedconferring an advantage to an undertaking engaging in any economic activity in the internal market. ASuch advantage is deemed to exist from the moment it can cause distortions, including prior to the actual receipt of, or entitlement to, the subsidy by the beneficiary. Among others, an undertaking acquiring control or merging with an undertaking established in the Union or an undertaking participating in a public procurement procedure is considered to be engaging in an economic activity in the internal market.
Amendment 135 #
2021/0114(COD)
Proposal for a regulation
Article 3 – paragraph 1 – introductory part
Article 3 – paragraph 1 – introductory part
(1) A distortion on the internal market shall be deemed to exist where a foreign subsidy is liable to improve the competitive position of the undertaking concerned in the internal market and where, in doing so, it actually or potentially negatively affects competition on the internal market. Whether there is a distortion on the internal market shall be determined on the basis of indicators, which may include, inter alia, the following:
Amendment 136 #
2021/0114(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point c a (new)
Article 3 – paragraph 1 – point c a (new)
(c a) the sector concerned;
Amendment 137 #
2021/0114(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point d
Article 3 – paragraph 1 – point d
(d) the level and evolution of economic activity of the undertaking concerned on the internal market;
Amendment 138 #
2021/0114(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point d a (new)
Article 3 – paragraph 1 – point d a (new)
(d a) the level of economic activity of the undertaking concerned on the domestic market;
Amendment 142 #
2021/0114(COD)
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
(2) A foreign subsidy is unlikely to distort the internal market if its total amount is below EUR 5 million over any consecutive period of three fiscal years.:
Amendment 143 #
2021/0114(COD)
Proposal for a regulation
Article 3 – paragraph 2 – point a (new)
Article 3 – paragraph 2 – point a (new)
(a) its total amount is below EUR 5 million over any consecutive period of three fiscal years;
Amendment 144 #
2021/0114(COD)
Proposal for a regulation
Article 3 – paragraph 2 – point b (new)
Article 3 – paragraph 2 – point b (new)
(b) the Commission has ascertained that the third country granting the foreign subsidy has in place a system for the review of subsidies that guarantees in law and in practice a level of protection against undue state intervention into market forces and unfair competition which is at least equivalent to the level within the Union and which effectively protects not only the market of the third country but also the internal market of the Union. A Commission decision ascertaining equivalence under point (b) of the first subparagraph shall be valid for three years and may be prolonged, if appropriate.
Amendment 145 #
2021/0114(COD)
Proposal for a regulation
Article 3 – paragraph 2 a (new)
Article 3 – paragraph 2 a (new)
(2 a) The Commission shall publish guidelines on the application of this Article. Those guidelines shall be regularly updated, in close cooperation with the Member States, while keeping the European Parliament and the Council informed.
Amendment 148 #
2021/0114(COD)
Proposal for a regulation
Article 3 a (new)
Article 3 a (new)
Article 3 a The European Commission’s findings of subsidies benefitting third country producers in a given sector made in relevant and recent Trade Defence Instruments (TDIs) investigations, or subsidies documented in reports published by international intergovernmental organizations shall constitute sufficient evidence of distortive subsidies to operators in the countries and sectors concerned having met the relevant threshold.
Amendment 226 #
2021/0114(COD)
Proposal for a regulation
Article 17 – paragraph 1
Article 17 – paragraph 1
In a concentration, the assessment whether there is a distortion on the internal market within the meaning of Articles 3 or 4 shall be limited to the concentration at stake. Only foreign subsidies granted in the three calendar years prior to the conclusion of the agreement, the announcement of the public bid, or the acquisition of a controlling interest or known future subsidies that have been decided and will become effective within one year following the concentration, shall be considered in the assessment.
Amendment 233 #
2021/0114(COD)
Proposal for a regulation
Article 18 – paragraph 3 – point b
Article 18 – paragraph 3 – point b
(b) the undertakings concerned received from third countries an aggregate financial contributionaggregate foreign subsidies in the three calendar years prior to notification of more than EUR 50 million.
Amendment 238 #
2021/0114(COD)
Proposal for a regulation
Article 18 – paragraph 4 – point b
Article 18 – paragraph 4 – point b
(b) the joint venture itself and its parent undertakings received from third countries an aggregate financial contributionsubsidy in the three calendar years prior to notification of more than EUR 50 million.
Amendment 241 #
2021/0114(COD)
Proposal for a regulation
Article 18 – paragraph 4 a (new)
Article 18 – paragraph 4 a (new)
(4 a) By way of derogation from paragraphs 3 and 4 of this Article, sector- specific aggregate turnovers in the Union are taken into account for a “notifiable concentration” to be deemed to arise in the field of emerging technologies.
Amendment 243 #
2021/0114(COD)
Proposal for a regulation
Article 19 – paragraph 1 a (new)
Article 19 – paragraph 1 a (new)
(1 a) Undertakings may request pre- notification consultations with the Commission based on good faith, the exclusive aim of which shall be to establish whether or not the formal thresholds for notification have been met.
Amendment 250 #
2021/0114(COD)
Proposal for a regulation
Article 19 – paragraph 5
Article 19 – paragraph 5
(5) The Commission may request the prior notification of any concentration which is not a notifiable concentration within the meaning of Article 18 at any time prior to its implementation where the Commission suspects that the undertakings concerned may have benefitted from foreign subsidies in the three years prior to the concentration or where there are reasonable grounds to suspect that an undertaking will benefit from foreign subsidies in the year following the concentration. That concentration shall be deemed to be a notifiable concentration for the purposes of this Regulation.
Amendment 253 #
2021/0114(COD)
Proposal for a regulation
Article 22 – paragraph 1
Article 22 – paragraph 1
The aggregate financial contributionoreign subsidies to an undertaking concerned shall be calculated by adding together the respective financial contributionoreign subsidies received from third countries by all undertakings referred to in Article 21(4), points (a) to (e).
Amendment 254 #
2021/0114(COD)
(8 a) Each preliminary review or in- depth investigation is communicated to the Member States that may be concerned
Amendment 256 #
2021/0114(COD)
Proposal for a regulation
Article 25 – paragraph 2
Article 25 – paragraph 2
(2) In addition, the Commission may impose fines by decision on undertakings concerned finesthat benefit from a foreign subsidy referred to in Article 2 and Article 19(3). Fines will not exceeding 1 % of their undertakings' aggregate turnover in the preceding business year where they, intentionally or negligently, supply incorrect or misleading information in a notification pursuant to Article 19 or supplement thereto.
Amendment 288 #
2021/0114(COD)
Proposal for a regulation
Article 33 – paragraph 1
Article 33 – paragraph 1
(1) A financial contributionsubsidy notified in the context of a concentration under Article 19 may be relevant and assessed again under this Regulation in relation to another economic activity.
Amendment 322 #
2021/0114(COD)
Proposal for a regulation
Article 46 – paragraph 1
Article 46 – paragraph 1
Amendment 326 #
2021/0114(COD)
Proposal for a regulation
Article 46 – paragraph 1 a (new)
Article 46 – paragraph 1 a (new)
Where the report referred to in paragraph 1 recommends amendments to this Regulation and where the Commission considers it appropriate in light of its practice during the application of this Regulation and taking into account the effectiveness of application, the report may be accompanied by relevant legislative proposals, including: a) to amend the thresholds for notifications as set out in Articles 18 and 27; b) to exempt certain categories of undertakings concerned from the obligation to notify pursuant to Articles 19 and 28, especially where the practice of the Commission enables the identification of economic activities in respect of which foreign subsidies are unlikely to distort the internal market; c) to establish specific thresholds for notifications for certain economic sectors, especially where the practice of the Commission enables the identification of economic activities in respect of which foreign subsidies are more likely to distort the internal market; d) to amend the timelines for review and in-depth investigations as set out in Articles 24 and 29; e) to repeal this Regulation if the Commission considers that multilateral rules to address distortive subsidies have rendered this Regulation fully redundant.
Amendment 1 #
2020/2263(INI)
Motion for a resolution
Citation 2
Citation 2
— having regard to Articles 113 and 115 of the Treaty on the Functioning of the European Union (TFEU),
Amendment 5 #
2020/2263(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
B a. whereas tax collection is primarily responsibility of each Member State;
Amendment 9 #
2020/2263(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
E a. whereas according to the 2020 Final Report in the context of the ‘Study and Reports on the VAT Gap in the EU- 28 Member States' prepared for the Commission, the VAT gap in Member States varied from less than 1% in Sweden and Croatia to more than 33% in Romania;
Amendment 12 #
2020/2263(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
E b. whereas the Parliament fully respects the principle of national tax sovereignty;
Amendment 14 #
2020/2263(INI)
Motion for a resolution
Recital E c (new)
Recital E c (new)
E c. whereas taxation is primarily the competence of the Member States and is subject to the unanimity requirement within the Council as stated in article 113 of the Treaty on the Functioning of the European Union;
Amendment 24 #
2020/2263(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Welcomes that the overall trend is positive as the VAT gap declined from 20 % in 2009 to 10 % in 2019 in the EU Member States which suggests that the VAT fraud in the EU is in decline and consequently VAT revenues to GDP are on the rise;
Amendment 26 #
2020/2263(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes that simplifying VAT with the introduction of a single rate and revenue neutrality could reduce the standard rate in the EU by an average of 7% percentage points, thus bringing the standard rate down from 13% to 2% percentage points; encourages Member States to explore the benefits which such a single reduced standard rate would have for fair competition on their market;
Amendment 35 #
2020/2263(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Takes the view that applying a multitude of reduced rates aggravates the complexity and opacity of the tax system, facilitates fraud and increases compliance costs; stresses that tax competition is the main mechanism helping Member States to identify and close the loopholes and shortcomings responsible for tax evasion;
Amendment 44 #
2020/2263(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Observes that the VAT gap fluctuates in line with the business cycle, and that low tax compliance is correlated with high standard VAT rates and multiple VAT rates as well as lower legal and judicial efficiency; encourages the Commission and Member States to share the best practices in this regard;
Amendment 47 #
2020/2263(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Takes the view that the current diversity of reduced rates imposes particularly highadditional compliance costs on businesses; and that total enterprise tax compliance costs are estimated to be an average of 2.5% of company turnover and vary considerably from Member State to Member State22 ; _________________ 22 Less than 1% in LU; almost 4% in PL., while VAT, Corporate Income Tax, and wage related taxes and contributions are rated the most burdensome, followed by property and real estate taxes22b; _________________ 22 Less than 1% in LU; almost 4% in PL. 22b Study on tax compliance costs for SMEs – Final Report, DG GROW, European Commission, 2018, p. xv
Amendment 50 #
2020/2263(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Observes that SMEs must pay proportionately higher total enterprise tax compliance costs, as these costs are fixed and independent of company size, and that high compliance costs constitute a barrier to entry into the EU internal market; taknotes the view,at empirical evidence on ther efore, that differentiated VAT regimes within the EU may act as a dfect of VAT systems on international trade is incentive to exports;onclusive22c; _________________ 22c DIW Econ study, page 21
Amendment 56 #
2020/2263(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Notes digitalisation’s potential to reduce compliance costs; maintains that digital innovations23 are likely to reduce compliance costs and, help increase the transparency of commercial transactions and reduce red tape; stresses the need to ensure data security and individual and corporate privacy; _________________ 23Such as AI, big data and blockchain technology.
Amendment 57 #
2020/2263(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. In order to facilitate trade and increase legal certainty in the single market, the Commission, in cooperation with Member States, should establish a Union VAT Web information portal for businesses. That portal should provide quick, up-to-date and accurate access to relevant information about the implementation of the VAT system in the different Member States and in particular on the correct VAT-rates for different goods and services in the different Member States, as well as the conditions for zero-rate; Such a portal may also help to address the current VAT gap;
Amendment 64 #
2020/2263(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Observes that the wide variety of rates can causes price distortion in the internal market, creating incentives for cross-border purchases and giving rise to increased tax competition between Member States; recallnotes that companies need clear and unambiguous VAT rules to26 out of 27 Member States use the reduced rates as part of their tax and social policies; recalls that one common web information portal about the implementation of VAT system in different Member States would encourage cross-border business and reduce their administrative burdens of companies;
Amendment 66 #
2020/2263(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Welcomes the positive trend of reducing the compliance costs due to continuing digitization of businesses and public administration; notes that in OECD countries the time necessary for tax compliance fell between 2006 and 2020 from 230 hours to 162 hours, mainly due to the adoption of electronic filing and payment systems23a; _________________ 23a PWC, Paying Taxes 2020, page 27
Amendment 67 #
2020/2263(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Stresses that a well-designedn effective VAT system is neutral and should not affect trade, but that in practice this principle is difficult to verify at global level given the application of VAT exemptions, the ineffectiveness of refund systems, the wide variety of rates – incurring higher compliance costs – and the fact that VAT has superseded income taxes with a view to encouraging tradewith low average tax rates is less vulnerable to tax evasion and tax optimisation;
Amendment 71 #
2020/2263(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Notes in comparison to EU27 that among 50 federal states of the USA there are over 11,000 standard sales tax jurisdictions with a distinct aggregate sales tax rate based on a unique combination of factors, including sales taxes levied by taxing authorities at the state, county, city, and district levels23b; _________________ 23bhttps://taxfoundation.org/state-sales- tax-jurisdictions-in-the-us-2020/
Amendment 74 #
2020/2263(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
Amendment 88 #
2020/2263(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Recalls that for it to have a leverage effect, green taxation must be inclusive, strive for social equity and not undermine businesses’ international competitiveness; observes that the effectiveness of reduced rates in promoting this type of goods and services or, in a broader sense, merit goods (e.g. culture, health, biodiversity) is chiefly a function of the extent to which they are used to promote such goods;
Amendment 90 #
2020/2263(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11 a. Stresses in this regard that reduced rates shall be applied always in fiscally responsible manner, without sacrificing the sustainability of public finances;
Amendment 93 #
2020/2263(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
Amendment 98 #
2020/2263(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
Amendment 105 #
2020/2263(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Stresses that a uniform VAT system, combined with a direct tax incentive tool such as the income-based tax credit scheme for low-income households, together with a raft of social reforms, would be a winning strategy; recalls that New Zealand has a flat-rate VAT system and applies tax credit for low-income households; points out that flat-rate subsidies and information campaigns are an option for the promotion of merit goodsRecalls that New Zealand has an uniform 15% flat-rate VAT system;
Amendment 110 #
2020/2263(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Recalls that VAT revenue is one of the chief sources of public revenue, accounting for some 21% of total tax revenue in the EU on average; that the VAT gap stands at 10% on average; and that VAT also constitutes an own resource for the EU budget; stresses that any reduction in the VAT base may leads to less revenue for public finances, however, theoretical and empirical evidence shows lower tax rate may also lead to higher revenue; calls on national tax authorities to take initiatives to reduce the VAT gap in order to help lift Member States out of the current socio- economic crisis;
Amendment 114 #
2020/2263(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15 a. Welcomes in this regard that major progress has been achieved on cooperation between the tax authorities of the Member States over the last decade; supports further discussions among Member States in order to strengthen the administrative cooperation;
Amendment 116 #
2020/2263(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. EndorsNotes the findings of the DIW Econ study which stresses that on average the standard rate was applied to 71% of the total tax base in the Member States in 2019; points out that compliance costs of diversified VAT systems impose costs on businesses, particularly SMEs via increased compliance costs, create distortions in the internal market and trade, and incur costs on government through lost revenue; adds that reduced rates are an insufficient means of achieving revenue-dcan be significantly reduced by continuing digitization of businesses and public administribuation or environmental objectives;
Amendment 121 #
2020/2263(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Notes the difficulties in reducing the VAT gap between Member States owing to the need to maintain a number of VAT exemptions for certain goods and services and the willingness of Member States to maintain reduced rates of at least 5%; aAcknowledges that Member States need to conserve the flexibility to set their own VAT rates given the importance of this tax as a budgetary instrument;
Amendment 129 #
2020/2263(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Calls for a simplified VAT system with limits on exemptions and non- standard rates to be introduced with a view to promoting competitiveness; takes the view that limiting the exemptions should go hand-in-hand with lowering the standard and minimum 15% VAT rate;
Amendment 139 #
2020/2263(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Stresses that the VAT gap is chiefly attributable to the ineffectiveness of enforcement and control measures, particularly those against tax evasion and avoidance and aggressive tax planning; stresses that fighting tax fraud and tax evasion should not breach the principle of tax sovereignty and tax competition;
Amendment 144 #
2020/2263(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Recalls that the effectiveness of reduced rates as a policy tool must always be assessed in the specific context of other existing policy tools; adds that reduced rates are often complementary to existing social and environmental policy tools; and that direct tax incentives are instruments that better target low-income households and are generally less costly;
Amendment 153 #
2020/2263(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
Amendment 7 #
2020/2122(INI)
Motion for a resolution
Citation 43 a (new)
Citation 43 a (new)
— having regard to the European Court of Auditors (ECA) Special Report entitled ‘Resolution planning in the Single Resolution Mechanism’, published on 14 January 2021,
Amendment 8 #
2020/2122(INI)
Motion for a resolution
Citation 43 a (new)
Citation 43 a (new)
— having regard to the answer by Commissioner Johansson to parliamentary question E-003462/2020,
Amendment 9 #
2020/2122(INI)
Motion for a resolution
Citation 43 b (new)
Citation 43 b (new)
— having regard to Article 140(1) of the Treaty on the Functioning of the European Union,
Amendment 10 #
2020/2122(INI)
Motion for a resolution
Citation 43 c (new)
Citation 43 c (new)
— having regard to the ECB´s Targeted Review of Internal Models, published April 2021,
Amendment 13 #
2020/2122(INI)
Motion for a resolution
Recital A
Recital A
A. whereas overall, the banking sector has responded to the COVID-19 pandemic with resilience, mostly founded on the regulatory reforms enacted since the global financial crisis and further supported by extraordinary public poliincreased capital requirements, indicating that equity and solvency arelief measures and capital conservation practices key to tackle financial and economic shocks instead of ever- increasing debt financing;
Amendment 20 #
2020/2122(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas the Banking Union encompasses a single supervisory mechanism, a single resolution mechanism, and harmonised national deposit guarantee schemes;
Amendment 42 #
2020/2122(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
C a. whereas a reinforced Banking Union requires first and foremost accelerated efforts by various Member States to reduce their high levels of non- performing loans and prevent their increase in the future;
Amendment 45 #
2020/2122(INI)
Motion for a resolution
Recital C b (new)
Recital C b (new)
C b. whereas as long as risks differ greatly between national banking systems, European Deposit Insurance Scheme would pose additional systemic risk for the Banking Union;
Amendment 47 #
2020/2122(INI)
Motion for a resolution
Recital D
Recital D
D. whereas climate change, environmental degradation, increased red tape in the context of climate reporting for financial institutions, which could be referred to as "green tape", and the transition to a low-carbon economy bring new risks to banks’ balance sheets;
Amendment 50 #
2020/2122(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. Expresses deep concern about the findings of the ECB´s Targeted Review of Internal Models, published in April 2021, which shows that the biggest euro area banks have repeatedly been too optimistic in their risk-modelling, confirming longstanding suspicions among regulators and analysts that larger banks have often artificially inflated the strength of their balance sheets by underestimating the riskiness of their assets, giving them a short-term advantage over more cautious competitors; is alarmed that the Review resulted in more than 5.800 deficiencies and 253 supervisory corrections of internal models by the ECB, which pushed up the banks’ risk-weighted assets by € 275 billion, a 12 per cent increase in the models examined, which reduced their average common equity tier one ratios by 0.71 percentage points;
Amendment 52 #
2020/2122(INI)
Motion for a resolution
Recital E
Recital E
E. whereas consumer protection varies across the Banking Union; Article 169 of the TFEU states that EU measures shall not prevent any Member State from maintaining or introducing more stringent consumer protection measures provided that they are compatible with the Treaties; in this way EU law provides a common basic level of protection to all consumers residing in the EU; recalls that there is no consistent and uniform definition of consumer protection in EU law, which justifies divergences amongst the Member States;
Amendment 57 #
2020/2122(INI)
Motion for a resolution
Recital F
Recital F
F. whereas prudential and anti-money laundering supervision is necessary; there are still important loopholes in the EU AML framework, such as the explicit exemption of the non- profit sector from anti-money laundering reporting requirements, even though certain NGOs and other non-financial entities (NFEs) operate with larger amounts of money than numerous European banks;
Amendment 62 #
2020/2122(INI)
Motion for a resolution
Recital F
Recital F
F. whereas prudential and anti-money laundering supervision is necessary and equally important;
Amendment 65 #
2020/2122(INI)
Motion for a resolution
Recital G
Recital G
G. whereas the withdrawal of the UK from the EU has resulted in the relocation of certain banking services to the EU;
Amendment 74 #
2020/2122(INI)
Motion for a resolution
Recital I a (new)
Recital I a (new)
I a. whereas the sound public finances are necessary condition for the macro- financial stability of the Banking Union;
Amendment 75 #
2020/2122(INI)
Motion for a resolution
Recital J
Recital J
J. whereas depositors across the Banking Union should enjoy the sameare exposed to varying levels of credit, market and operational risk, which justifies varying levels of protection;
Amendment 79 #
2020/2122(INI)
Motion for a resolution
Recital J a (new)
Recital J a (new)
J a. whereas the near zero interest rates greatly reduce the profitability of banks in one of their most important areas of business activity, the provision of credit for long-term investments;
Amendment 80 #
2020/2122(INI)
Motion for a resolution
Recital J b (new)
Recital J b (new)
J b. whereas the stability of financial institutions in the Banking Union is still a matter of grave concern; whereas the economic downturn will lead to an increase in non-performing loans;
Amendment 81 #
2020/2122(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. WelcomeRegrets the entry of Bulgaria and Croatia into the Banking Union; especially in the light of both countries' sharp drop in the Corruption Perception Index 2020, where Bulgaria now takes last place, and increasing worries about corruption in Croatia, such as the contested government order forcing banks to retroactively convert loans from Swiss francs to euros and pay out over € 1.1 billion in reimbursement to customers it had lent money to, as well as ongoing corruption charges against the HDZ party (EPP), the Agrokor scandal involving finance minister Maric, or the Sanader case; calls on the EU not to expand the euro area with such corrupt regimes;
Amendment 85 #
2020/2122(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Recalls that the Commission assessed in the 2020 Country Specific Recommendations for Croatia that despite several Action Plans, issues of corruption and conflicts of interest remain widespread in Croatia, and that further efforts to strengthen the prevention and sanction of corruption are needed to ensure the transparent and efficient use of public funds; recalls that Article 140(1) TFEU requires the Commission and European Central Bank’s convergence reports to take account of "other factors" relevant to economic integration and convergence, such as corruption; recalls that the Commission criticized Bulgaria in its 2020 Rule of Law report for its disregard for the rule of law and the independence of the judiciary; concludes that Bulgaria and Croatia are not ready for accession to the Banking Union;
Amendment 87 #
2020/2122(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Recalls thatwhereas the Banking Union has delivered the institutional set-up for greater market integration, through the SSM and the SRM, while a European deposit insurance scheme (EDIS) is still lackingwill further disintegrate due to moral hazard and lead to a permanent Transfer Union if mechanisms such as the backstop for the Single Resolution Fund (SRF) and a European Deposit Insurance Scheme (EDIS) are implemented; regrets that insufficient progress in risk reduction in some member states serves as an argument for mutualisation of deposit insurance schemes, creating incentives for some member states not to reduce risk, or even engage in even more excessive risk-taking; points out that the absence of a proper impact assessment of the EDIS proposal is fundamentally at odds with the principles of sound governance;
Amendment 88 #
2020/2122(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Recalls that the Banking Union has delivered the institutional set-up for greater market integration, through the SSM and the SRM, while a European deposit insurance scheme (EDIS) is still lacking;
Amendment 100 #
2020/2122(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Considers that banks’ response to the current crisis demonstrates that the regulatory reforms in the past decade, as well as the institutional set-up, have resulted in better-capitalised and less- leveraged banks, proving that equity and not debt is the solution to solve crises and build up resilience against economic and financial shocks;
Amendment 101 #
2020/2122(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Considers that banks’ response to the current crisis demonstrates that the regulatory reforms in the past decade, as well as the institutional set-up, have resulted in better-capitalised and less- leveraged banks; notes, however, that the high level of non-performing loans remains a serious problem in several Member States;
Amendment 110 #
2020/2122(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
Amendment 113 #
2020/2122(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Underlines the vital contribution to addressing the crisis of public guarantee schemes, moratoria on loan repayments for borrowers in financial difficulty, the central banks’ liquidity programmes and the ECB’s targeted longer-term refinancing operations (TLTRO) and pandemic emergency purchase programme (PEPP)Deplores the ECB's role in massively inflating the money supply and expanding its balance sheet up to over 70% of euro area GDP; recalls that banks in the northern euro area hold a disproportionately high amount of deposits with the ECB, and pay disproportionately high penalty interest to the ECB; by contrast, banks in the southern euro area benefit disproportionally from the negative interest rates on TLTRO loans;
Amendment 120 #
2020/2122(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Underlines the vital contribution to addressing the crisis of public guarantee schemes, moratoria on loan repayments for borrowers in financial difficulty, the central banks’ liquidity programmes and the ECB’s targeted longer-term refinancing operations (TLTRO) and pandemic emergency purchase programme (PEPP); warns in this regard over the risk of overshooting the inflation target due to loose monetary policy which could affect the functioning of Banking Union;
Amendment 121 #
2020/2122(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Deplores that PEPP has had an overwhelming influence on the narrowing of yield spreads and has ensured that southern European government bonds from highly indebted Member States were viewed by investors as less risky5a, which shows that PEPP is disproportionately directed towards highly indebted euro area Member States, and that the ECB is thereby guaranteeing the liquidity of highly indebted euro countries; _________________ 5aLeibniz Centre for European Economic Research, https://www.zew.de/presse/pressearchiv/di e-stabilitaet-der-eurozone-haengt-am- tropf-der-ezb
Amendment 122 #
2020/2122(INI)
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Recalls that The Targeted Long- Term Refinancing Operations (TLTROs) further zombify the European economy and deteriorate the real income prospects, especially of young Europeans;
Amendment 123 #
2020/2122(INI)
Motion for a resolution
Paragraph 5 c (new)
Paragraph 5 c (new)
5 c. Calls on the ECB to end its stimulus package immediately, including phasing out TLTRO;
Amendment 126 #
2020/2122(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Is concerned that loose monetary policy contributes to the lower long-term economic growth and creates an incentive to delay the implementation of the necessary structural reforms;
Amendment 127 #
2020/2122(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. NotesExpresses concern about the the ‘quick fix’ to the Capital Requirements Regulation31 extending transitional arrangements in order to support banks’ lending capacity32 ; seriously doubts whether supporting further debt- financing is a sustainable way to recapitalize the European economy and to fostering economic growth; _________________ 31Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1). 32 Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 2020 amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic (OJ L 204, 26.6.2020, p. 4).
Amendment 137 #
2020/2122(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Stresses the need to further strengthen the financial sector through the completion of the Capital Markets Union which will help to channel credit into the real economy;
Amendment 160 #
2020/2122(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes the accelerated pace of digitalisation in the banking sector, while pointing to the insufficient level of investment in this arealooks forward to the further development of DORA and its effect on digital operational resilience for the financial sector; calls on the ESAs and ENISA to step up their efforts in monitoring and mitigating the risks concerning third country ICT third- parties, if these third-parties have or are suspected of having ties to foreign governments or foreign militaries;
Amendment 167 #
2020/2122(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. WelcomesExpresses concern about the ECB’s report on the digital euro and the outcome of its public consultation and expects further analysis of the implications for the banking sector, consumer protection and consumer data protection;
Amendment 169 #
2020/2122(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Welcomes the ECB’s report on the digital euro and the outcome of its public consultation and expects further analysis of the implications for the banking sector, particularly its impact on banks’ products such as current accounts and its potential to outcompete financial services corporations as intermediaries for processing transactions;
Amendment 172 #
2020/2122(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Recalls that cash is anonymous and it is impossible for banks or central banks to control the direct expenditure of cash holders, which safeguards their privacy; recalls that CBDC is not anonymous, since central banks will be able to trace consumer behaviour and spending patterns of all citizens; recalls that CBDC would give central banks absolute control over the transactions of citizens, meaning that the ECB will have both the power and the technical capacity to control transactions, including disabling certain transactions; expresses deep concern over giving the ECB such far-reaching powers, which are obviously not within its mandate;
Amendment 189 #
2020/2122(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
Amendment 191 #
2020/2122(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Regrets the failure to ensure full gender balanceliminate gender discrimination in EU financial institutions and bodies;
Amendment 197 #
2020/2122(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13 a. Condemns all forms of discrimination and stresses that competence and moral integrity should be the only and mandatory criteria for any job position in EU financial institutions and bodies;
Amendment 214 #
2020/2122(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Stresses that ensuring proper and timely management of deteriorated exposures will be key to preventing a build-up of non-performing loans (NPLs) in the short term; asks for more efforts to come forward with ambitious solutions to the issue of sovereign exposures and a substantial reductions of the stock of non- performing loans, especially in the lights of the expiring debt-moratoria in the Member States on loans for SMEs that have suffered tremendously under the national and regional lockdown measures;
Amendment 220 #
2020/2122(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Stresses that ensuring proper and timely management of deteriorated exposures will be key to preventing a build-up of non-performing loans (NPLs) in the short term; advices the Member States to make further efforts to address this issue;
Amendment 238 #
2020/2122(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Notes that the expected credit losses, together with the current low interest environment, might further negatively affect the already subdued profitability of banks, as confirmed by the Commission in its answer to written question E- 003152/2019; is deeply concerned about the fact that negative interest rates have costed European banks 8.5 billion euros in 2020; recalls that commercial banks are required to place their excess deposits with the ECB, which pays them at a negative interest rate, currently set at - 0.5%, which means that banks have to pay the central bank for their regulatory deposits; calls on the ECB to normalise its interest rate policy without delay;
Amendment 246 #
2020/2122(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Stresses the benefitWarns of banking consolidation inas a supposed solution to addressing the overcapacities and fragmentation of the banking sector; regrets in this respect the calls of Andrea Enria to further latinize the European banking market through consolidation; rejects this pathway to institutionalising the risk of "too big to fail"; proposes rather to break up banks, instead of consolidating them;
Amendment 260 #
2020/2122(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Is concerned that as Member States sell increasing amounts of sovereign bonds, their share in banks’ balance sheets grows, potentially aggravating the doom loop; considers thatpoints out that government bonds are not risk-free assets and should not be treated as such; questions whether the creation of Next Generation EU will provide high-quality European assets;
Amendment 272 #
2020/2122(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Notes that the EU-wide stress test launched on 29 January 2021 aims to test capital trajectories of banks in a situation of worsening asset quality; stresses the importance to consider the impact of potentially rising interest rates on banks’ balance sheets;
Amendment 279 #
2020/2122(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Notes the efforts of the SSM to provide guidance and clarity to banks for self-assessing and appropriately reporting environmental and climate change-related risks; considers the SSM climate risk stress test an important step in evaluating banks’ practices and identifying concrete areas of improvement; warns, however, of danger of green asset bubbles that could be a consequence of oversubsidizing the sustainable investments;
Amendment 300 #
2020/2122(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. TrustNotes that the introduction of a backstop into the SRF earlier than originally envisaged is positive for the strengthening of the crisis management frameworkincreases risk sharing; advises that risk reduction should precede any form of legacy sharing and risk sharing;
Amendment 311 #
2020/2122(INI)
Motion for a resolution
Paragraph 29 a (new)
Paragraph 29 a (new)
29 a. Endorses ECA’s recommendation that in order to ensure that supervisory action is taken sufficiently early, the SRB and the Commission should approach the legislators and the ECB, in its role as supervisor, and advocate for objective and quantified thresholds for triggering early intervention measures, and reaching the decision that a bank is failing or likely to fail;
Amendment 347 #
2020/2122(INI)
Motion for a resolution
Paragraph 35
Paragraph 35
35. Notes the importance of depositors across the Banking Union enjoying the same level of protection of their savings; takes note of the Commission proposal to further strengthen citizens’ confidence in the protection of deposits by introducing an EDISregrets that insufficient progress in risk reduction in some Member States serves as an argument for mutualisation of deposit insurance schemes, creating incentives for some Member States not to reduce risk, or even to engage in even more excessive risk-taking; points out that the absence of a proper impact assessment of the EDIS proposal is fundamentally at odds with principles of sound governance;
Amendment 357 #
2020/2122(INI)
Motion for a resolution
Paragraph 35 a (new)
Paragraph 35 a (new)
35 a. Points out that risks still differ greatly between different national banking systems;
Amendment 358 #
2020/2122(INI)
Motion for a resolution
Paragraph 35 b (new)
Paragraph 35 b (new)
35 b. Emphasises the potential high risks of EDIS, particularly those related to moral hazard; opposes therefore the completion of the Banking Union through the creation of a fully mutualised EDIS;
Amendment 360 #
2020/2122(INI)
Motion for a resolution
Paragraph 35 c (new)
Paragraph 35 c (new)
35 c. Stresses that risk reduction would ensure the level of protection that depositors currently enjoy, without raising the systemic risk through establishing fully mutualised EDIS;
Amendment 361 #
2020/2122(INI)
Motion for a resolution
Paragraph 35 d (new)
Paragraph 35 d (new)
35 d. Questions whether Article 114 would be an appropriate legal basis for the establishment of EDIS;
Amendment 369 #
2020/2122(INI)
Motion for a resolution
Paragraph 36
Paragraph 36
36. Notes the Commission’s launch of the review of the CMDI framework, including the op; asks for more efforts to come forward with ambitious solutions to the issue of sovereign exposures and a substantial reductions of a hybrid EDISthe stock of non-performing loans;
Amendment 7 #
2020/2114(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Underlines that the rules-based multilateral trading system has been a key driver of global trade liberalisation, which has powered economic growth, competitiveness and innovation, job creation and the promotion of sustainable economic development; notes furthermore its role in fostering a predictable trade environment through the development of more transparent trade rules and regulations; believes, however, that there is a need to rebuild trust in multilateral institutions in the face of global challenges and shifting world power dynamics;
Amendment 22 #
2020/2114(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Regrets the growing tendencies towards protectionism and trade weaponisatdisruptions and tensions that have developed in parts of the global economy; welcomes the strengthening of the EU’s trade enforcement efforts and the development of a toolbox of autonomous trade instruments to respond to these emerging challenges; stresses the need, however, to remain fully engaged in efforts to reinvigorate the World Trade Organization (WTO) as the cornerstone of a liberalised global economy and to deal with the challenges posed by non-market economies;
Amendment 36 #
2020/2114(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Calls for reflection on how to deal with other countries under different political regimes and/or economic systems in the area of external relations and trade and investment in particular in order to contribute to easing existing geopolitical tensions and find over the long run areas of cooperation or eventually partnerships to the benefits of both sides;
Amendment 31 #
2020/0265(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) A dedicated and harmonised framework is therefore necessary at Union level to provide specific rules for crypto- assets and related activities and services and to clarify the applicable legal framework. Such dedicated harmonised framework should also cover services related to crypto-assets where these services are not yet covered by Union legislation on financial services. Such a framework should support innovation and fair competition, while ensuring a high level of consumer protection and market integrity in crypto-asset markets. A clear framework should enable crypto-asset service providers to scale up their business on a cross-border basis and should facilitate their access to banking services to run their activities smoothly. It should ensure proportionate treatment of crypto-asset issuers and service providers, allowing equal opportunities for new market entry and development in the Member States. It should also ensure financial stability and address monetary policy risks that could arise from crypto- assets that aim at stabilising their price by referencing a currency, an asset or a basket of such. While increasing consumer protection, market integrity and financial stability through the regulation of offers to the public of crypto-assets or services related to such crypto-assets, a Union framework on markets in crypto-assets should not regulate the underlying technology and should allow for the use of both permissionless and permission-based distributed ledgers. At the same time, it shall be recognised that some tokens do not represent payment means or investment assets and as such, shall be allowed to be issued and offered freely in the Union in so far as they are not offered as an investment or payment. Union legislation shall not set unnecessary and disproportionate regulatory burden on all use cases of the technology, if the Union and the Member States aim to remain competitive in a market which is naturally global. Sound regulation would preserve Member States’ competitiveness in the global financial and technology markets, and provide considerable benefits to their customers accessing cheaper, faster, and safer financial and asset-management services.
Amendment 47 #
2020/0265(COD)
Proposal for a regulation
Recital 8
Recital 8
(8) Any legislation adopted in the field of crypto-assets should be specific, future- proof and, be able to keep pace with innovation and technological developments, and to be founded on an incentive-based approach to secure continued legal adequacy of Member States alongside the rapid innovation of the industry. ‘Crypto-assets’ and ‘distributed ledger technology’ should therefore be defined as widely as possible to capture all types of crypto-assets which currently fall outside the scope of Union legislation on financial services. Such legislation should also contribute to the objective of combating money laundering and the financing of terrorism. Any definition of ‘crypto-assets’ should therefore correspond to the definition of ‘virtual assets’ set out in the recommendations of the Financial Action Task Force (FATF)34 . For the same reason, any list of crypto-asset services should also encompass virtual asset services that are likely to raise money- laundering concerns and that are identified as such by the FATFrm the monetary policies of Member States. _________________ 34FATF (2012-2019), International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation, FATF, Paris, France (www.fatf- gafi.org/recommendations.html).
Amendment 60 #
2020/0265(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) Despite their similarities, electronic money and crypto-assets referencing a single fiat currency differ in some important aspects. Holders of electronic money as defined in Article 2, point 2, of Directive 2009/110/EC are always provided with a claim on the electronic money institution and have a contractual right to redeem their electronic money at any moment against fiat currency that is legal tender at par value with that currency. By contrast, some of the crypto-assets referencing one fiat currency which is legal tender do not provide their holders with such a claim on the issuers of such assets and could fall outside the scope of Directive 2009/110/EC. Other crypto-asset referencing one fiat currency do not provide a claim at par with the currency they are referencing or limit the redemption period. The fact that holders of such crypto-assets do not have a claim on the issuers of such assets, or that such claim is not at par with the currency those crypto-assets are referencing, could undermine the confidence of users of those crypto-assets. To avoid circumvention of the rules laid down in Directive 2009/110/EC, any definition of ‘e-money tokens’ should be as wide as possible to capture all the types of crypto-assets referencing one single fiat currency that is legal tender. To avoid regulatory arbitrage, strict conditions on the issuance of e- money tokens should be laid down, including the obligation for such e-money tokens to be issued either by a credit institution as defined in Regulation (EU) No 575/2013 of the European Parliament and of the Council36 , or by an electronic money institution authorised under Directive 2009/110/EC. For the same reason, issuers of such e-money tokens should also grant the users of such tokens with a claim to redeem their tokens at any moment and at par value against the currency referencing those tokens. E- money tokens can be referenced to any global fiat currency that is a legal tender. Because e-money tokens are also crypto- assets and can also raise new challenges in terms of consumer protection and market integrity specific to crypto-assets, they should also be subject to rules laid down in this Regulation to address these challenges to consumer protection and market integrity. However, as different crypto- assets raise different risks and challenges, stabilising crypto-assets to a fiat currency allows for safer uses for both consumers and investors. _________________ 36Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).
Amendment 93 #
2020/0265(COD)
Proposal for a regulation
Recital 29
Recital 29
(29) A competent authority should refuse authorisation where the prospective issuer of asset-referenced tokens’ business model may pose a serious threat to financial stability, monetary policy transmission and monetary sovereignty. Refusal should be based on comprehensive and clear criteria established in any secondary legislation. The competent authority shouldall consult the EBA and ESMA and, where the asset- referenced tokens is referencing Union currencies, the European Central Bank (ECB) and the national central bank of issue of such currencies before granting an authorisation or refusing an authorisation. The EBA, ESMA, and, where applicable, the ECB and the national central banks should provide the competent authority with a non-binding opinion on the prospective issuer’s application. Any opinions of the ECB should be non- binding. Where authorising a prospective issuer of asset- referenced tokens, the competent authority should also approve the crypto-asset white paper produced by that entity. The authorisation by the competent authority should be valid throughout the Union and should allow the issuer of asset-referenced tokens to offer such crypto-assets in the Single Market and to seek anapply for admission to trading on a trading platform for crypto- assets. In the same way, the crypto-asset white paper should also be valid for the entire Union, without possibility for Member States to impose additional requirements.
Amendment 288 #
2020/0265(COD)
Proposal for a regulation
Article 4 – paragraph 2 – point e
Article 4 – paragraph 2 – point e
(e) over a period of 12 months, the total consideration of an offer to the public of crypto-assets in the Union does not exceed EUR 15 000 000, or the equivalent amount in any other currency or in crypto- assets;
Amendment 398 #
2020/0265(COD)
Proposal for a regulation
Article 15 – paragraph 7 a (new)
Article 15 – paragraph 7 a (new)
7a. Concerning asset-referenced tokens issues as decentralised crypto- assets or where the issuer(s) are located in third countries, a crypto-asset service provider operating a trading platform may also be authorised as offeror when it admits such asset-referenced tokens to trading on its own initiative. The authorisation of such offeror shall not be limited by to trading on the trading platform in question and shall not be limit other entities from applying for authorisation to offer the crypto-assets.
Amendment 446 #
2020/0265(COD)
Proposal for a regulation
Article 19 – paragraph 2 – point c
Article 19 – paragraph 2 – point c
(c) the applicant issuer’s business model may pose a serious threat to financial stability, monetary policy transmission or monetary sovereignty of Member States, based on criteria as shall be specified in a delegated or implementing act issued in accordance with article 121.
Amendment 488 #
2020/0265(COD)
Proposal for a regulation
Article 30 – paragraph 12 – subparagraph 1 – point d
Article 30 – paragraph 12 – subparagraph 1 – point d
(d) the required auditable documentation and the audits referred to in paragraph 11;
Amendment 679 #
2020/0265(COD)
Proposal for a regulation
Article 43 – paragraph 2 a (new)
Article 43 – paragraph 2 a (new)
2a. An e-money token offered to the communities in the Union or admitted to trading on a trading platform may reference any global currency that is legal tender.
Amendment 925 #
2020/0265(COD)
Proposal for a regulation
Article 68 – paragraph 8
Article 68 – paragraph 8
8. Crypto-asset service providers that are authorised for the operation of a trading platform for crypto-assets shall compleinitiate the final settlement of a crypto-asset transaction on the DLT on the same date as thewithin 24 hours after transactions has been executed on the trading platform.
Amendment 968 #
2020/0265(COD)
Proposal for a regulation
Article 77 – paragraph 1
Article 77 – paragraph 1
1. Issuers and offerers of crypto- assets shall inform the public as soon as possible of inside information which concerns them, in a manner that enables the public to access that information in an easy manner and to assess that information in a complete, correct and timely manner. Publication of such information on the blockchain shall be considered sufficient.
Amendment 977 #
2020/0265(COD)
Proposal for a regulation
Article 77 – paragraph 2 – introductory part
Article 77 – paragraph 2 – introductory part
2. Issuers and offerors of crypto- assets may, on their own responsibility, delay disclosure to the public of inside information provided that all of the following conditions are met:
Amendment 983 #
2020/0265(COD)
Proposal for a regulation
Article 77 – paragraph 2 – point a
Article 77 – paragraph 2 – point a
(a) immediate disclosure is likely to prejudice the legitimate interests of the issuers or offerors, as applicable;
Amendment 987 #
2020/0265(COD)
Proposal for a regulation
Article 77 – paragraph 2 – point c
Article 77 – paragraph 2 – point c
(c) the issuers or offerors, as applicable are able to ensure the confidentiality of that information.
Amendment 1038 #
2020/0265(COD)
Proposal for a regulation
Article 100 – paragraph 4 – subparagraph 3
Article 100 – paragraph 4 – subparagraph 3
Where the ECB is a member of the college pursuant to Article 99(2), point (i), it shall have two votesonly a consultative, and not a binding vote on the opinion of the college. Where national banks of Member States are members of the college pursuant to Article 99(2), point (j), they shall only have a consultative, and not a binding vote on the opinion of the college.
Amendment 1052 #
2020/0265(COD)
Proposal for a regulation
Article 102 – paragraph 4 – subparagraph 3
Article 102 – paragraph 4 – subparagraph 3
Where the ECB is a member of the college pursuant to point (h) of Article 101(2), it shall have 2 votesonly a consultative, and not a binding vote on the opinion of the college. Where national banks of Member States of the college pursuant to Article 101(2), point (I), they shall have only a consultative, and not a binding vote on the opinion of the college.