Activities of Klaus-Heiner LEHNE related to 2009/0142(COD)
Legal basis opinions (0)
Amendments (15)
Amendment 11 #
Proposal for a regulation
Recital 6
Recital 6
(6) The CommunityUnion has reached the limits of what can be done with the present status of the Committees of European Supervisors, which remain advisory bodies to the Commission. The Community. The Union cannot remain in a situation where there is no mechanism to ensure that national supervisors arrive at the best possible supervisory decisions for cross- border institutions; where there is insufficient cooperation and information exchange between national supervisory authorities; where joint action by national authorities requires complicated arrangements to take account of the patchwork of regulatory and supervisory requirements; where national solutions are most often the only feasible option in responding to European problems, where different interpretations of the same legal text exist. The European System of Supervisors should be designed to overcome these deficiencies and provide a system that is in line with the objective of a stable and single CommunityUnion financial market for financial services, linking national supervisors into a strong CommunityUnion network.
Amendment 12 #
Proposal for a regulation
Recital 14
Recital 14
(14) There is a need to introduce an effective instrument to establish harmonised technical standards in financial services to ensure, also through a single rulebook, a level playing field and an adequate protection of depositors, investors and consumers across Europe. As a body with highly specialised expertise, it is efficient and appropriate to entrust the Authority, in areas defined by CommunityUnion law, with the elaboration of draft technical standards, which do not involve policy choices. The Commission should endorse those draft technical standards in accordance with CommunityUnion law in order to give them binding legal effect. The draft technical standards have to be adopted by the Commission. They would be subject to amendment if, for example, the draft technical standards were incompatible with Community Law, would not respect the principle of proportionality or would run counter to the fundamental principles of the internal markeCommission should be empowered, in accordance with Article 290 of the Treaty on the Functioning of the European Union to adopt the technical standards by means of delegated acts. The delegation should be made in the basic legislative act and should be able to be revoked by the European Parliament or the Council. The period for delegation should be extended on the request of the Commission, unless the European Parliament for finathe Councial services as reflecobject. The standards should be adopted inby the acquis of Community financial services legislation. To ensure a smooth and expedited adoption process for those standards, the Commission should be subject to a time limiCommission by means of regulations or decisions as delegated acts in accordance with Article 290 of the Treaty on the Functioning of the European Union. The word "delegated" should be inserted in the title of these acts. The standards adopted pursuant to the procedure of Article 7 of this Regulation should enter into force only if no objection has been expressed by the Parliament for its decision on the endorsementthe Council within a period of three months.
Amendment 13 #
Proposal for a regulation
Recital 15
Recital 15
Amendment 14 #
Proposal for a regulation
Recital 20
Recital 20
(20) To overcome exceptional situations of persistent inaction by the competent authority concerned, the Authority should be empowered, as a last resort, to adopt decisions addressed to individual financial institutions that have an impact on the internal market. This power should be limited to exceptional circumstances in which a competent authority does not comply with the decisions addressed to it and in which CommunityUnion law is directly applicable to financial institutions by virtue of existing or future EU Regulations. Should the Court of Justice rule that a decision of the Authority is in breach of Union law, the Authority should be liable for the damages.
Amendment 18 #
Proposal for a regulation
Recital 41
Recital 41
(41) In order to guarantee its full autonomy and independence, the Authority should be granted an autonomous budget with revenues mainly from obligatory contributions from national supervisory authorities and from the General Budget of the European Union. The CommunityUnion budgetary procedure should be applicable as far as the Community contribution is concerned. The auditing of accounts should be undertaken by the Court of Auditors.
Amendment 19 #
Proposal for a regulation
Article 7 – title
Article 7 – title
Technical standards – delegated acts
Amendment 20 #
Proposal for a regulation
Article 7 – paragraph 2
Article 7 – paragraph 2
2. The standards shall be adopted by the Commission by means of Rregulations or Ddecisions and published in the Official Journal of the European Unions delegated acts in accordance with Article 290 of the Treaty on the Functioning of the European Union. The word “delegated” shall be inserted in the title of those acts. The standards adopted pursuant to this Article shall enter into force only if no objection has been expressed by the European Parliament or the Council within a period of three months.
Amendment 21 #
Proposal for a regulation
Article 9 – paragraph 2 – introductory part
Article 9 – paragraph 2 – introductory part
2. Upon request from one or more competent authorities, from the Commission, the European Parliament or the Council or on its own initiative and after having informed the competent authority concerned, the Authority may investigate the alleged incorrect application of CommunityUnion law.
Amendment 22 #
Proposal for a regulation
Article 9 – paragraph 6 – introductory part
Article 9 – paragraph 6 – introductory part
6. Without prejudice to the powers of the Commission under Article 226 of the Treaty, where a competent authority does not comply with the decision referred to in paragraph 4 of this Article within the period of time specified therein, and where it is necessary to remedy in a timely manner the non compliance by the competent authority in order to maintain or restore neutral conditions of competition in the internal market or ensure the orderly functioning and integrity of the financial system in the internal market, the Authority may, where the relevant requirements of the legislation referred to in Article 1(2) are directly applicable to financial institutions, adopt an individual decision addressed to a financial institution requiring the necessary action to comply with its obligations under CommunityUnion law including the cessation of any practice. Before adopting an individual decision, the Authority shall inform the Commission thereof.
Amendment 29 #
Proposal for a regulation
Article 23 – paragraph 1
Article 23 – paragraph 1
1. The Authority shall ensure that no decision adopted under Articles 10 or 11 impinges in any way directly on the fiscal responsibilities of Member States.
Amendment 31 #
Proposal for a regulation
Article 23 – paragraph 2 – subparagraph 1
Article 23 – paragraph 2 – subparagraph 1
2. Where a Member State considers that a decision taken under Article 11 impinges directly on its fiscal responsibilities, it may notify the Authority and the Commission within one month after notification of the Authority's decision to the competent authority that the decision will not be implemented by the competent authority.
Amendment 33 #
Proposal for a regulation
Article 23 – paragraph 2 – subparagraph 2
Article 23 – paragraph 2 – subparagraph 2
In its notification, the Member State shall justify why and clearly demonstrate how the decision impinges directly on its fiscal responsibilities.
Amendment 38 #
Proposal for a regulation
Article 23 – paragraph 3 – subparagraph 1
Article 23 – paragraph 3 – subparagraph 1
3. Where a Member State considers that a decision taken under Article 10(2) impinges directly on its fiscal responsibilities, it may notify the Authority, the Commission and the Council within three working days after notification of the Authority's decision to the competent authority that the decision will not be implemented by the competent authority.
Amendment 39 #
Proposal for a regulation
Article 23 – paragraph 3 – subparagraph 2
Article 23 – paragraph 3 – subparagraph 2
In its notification, the Member State shall justify why and clearly demonstrate how the decision impinges directly on its fiscal responsibilities.
Amendment 40 #
Proposal for a regulation
Article 48 –point a
Article 48 –point a