Activities of Denis NESCI
Plenary speeches (16)
Human rights situation in Egypt (debate)
A long-term vision for the EU's rural areas (debate)
Tackle the cost of living crisis: increase pay, tax profits, stop speculation (topical debate)
Consumer protection in online video games: a European Single Market approach (debate)
European Central Bank - annual report 2022 (debate)
European Semester for economic policy coordination 2023 - European Semester for economic policy coordination: Employment and social priorities for 2023 (debate)
Digital euro (debate)
Cohesion dimension of EU state aid and de minimis rules (debate)
Revision of the Stability and Growth Pact (debate)
Competition policy - annual report 2022 (debate)
Interim report on the proposal for a mid-term revision of the Multiannual Financial Framework 2021-2027 (debate)
Establishing the Strategic Technologies for Europe Platform (‘STEP’) (debate)
Framework of measures for strengthening Europe’s net-zero technology products manufacturing ecosystem (Net Zero Industry Act) (debate)
Outcome of the UN Climate Change Conference 2023 in Dubai, United Arab Emirates (COP28) (debate)
Empowering consumers for the green transition (debate)
EU Action Plan: protecting and restoring marine ecosystems for sustainable and resilient fisheries (debate)
Shadow reports (3)
REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) No 1092/2010, (EU) No 1093/2010, (EU) No 1094/2010, (EU) No 1095/2010 and (EU) 2021/523 as regards certain reporting requirements in the fields of financial services and investment support
REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1286/2014 as regards the modernisation of the key information document
REPORT on the proposal for a directive of the European Parliament and of the Council amending Directives (EU) 2009/65/EC, 2009/138/EC, 2011/61/EU, 2014/65/EU and (EU) 2016/97 as regards the Union retail investor protection rules
Shadow opinions (5)
OPINION on the implementation report on the EU-UK Trade and Cooperation Agreement
OPINION on job creation – the just transition and impact investments
OPINION on the proposal for a regulation of the European Parliament and of the Council on establishing a framework of measures for strengthening Europe’s net-zero technology products manufacturing ecosystem (Net Zero Industry Act)
OPINION on the proposal for a directive of the European Parliament and of the Council harmonising certain aspects of insolvency law
OPINION on the proposal for a regulation of the European Parliament and of the Council on establishing the Reform and Growth Facility for the Western Balkans
Institutional motions (19)
MOTION FOR A RESOLUTION on the situation of human rights in the context of the FIFA World Cup in Qatar
JOINT MOTION FOR A RESOLUTION on the continuing repression of the democratic opposition and civil society in Belarus
JOINT MOTION FOR A RESOLUTION on the forced displacement of people as a result of the escalating conflict in eastern Democratic Republic of the Congo (DRC)
JOINT MOTION FOR A RESOLUTION on the human rights situation in Afghanistan, especially the deterioration of women’s rights and attacks against educational institutions
MOTION FOR A RESOLUTION on the prospects for the two-state solution for Israel and Palestine
MOTION FOR A RESOLUTION on the Military Junta crackdown on peaceful demonstrations in Chad
MOTION FOR A RESOLUTION on Chinese government crackdown on the peaceful protests across the People's Republic of China
MOTION FOR A RESOLUTION on the EU response to the protests and executions in Iran
MOTION FOR A RESOLUTION the storming of the Brazilian democratic institutions
MOTION FOR A RESOLUTION on the establishment of a tribunal on the crime of aggression against Ukraine
MOTION FOR A RESOLUTION on Tunisia: Recent attacks against freedom of expression and association and trade unions, in particular the case of journalist Noureddine Boutar
MOTION FOR A RESOLUTION on Cambodia: the case of opposition leader Kem Sokha
MOTION FOR A RESOLUTION Iran: in particular the poisoning of hundreds of school girls
JOINT MOTION FOR A RESOLUTION on Iran, in particular the poisoning of hundreds of schoolgirls
JOINT MOTION FOR A RESOLUTION on Cambodia: the case of opposition leader Kem Sokha
MOTION FOR A RESOLUTION the humanitarian situation in Sudan, in particular the death of children trapped by fighting
MOTION FOR A RESOLUTION The torture and criminal prosecution of Ukrainian minors Tihran Ohannisian and Mykyta Khanhanov by the Russian Federation
MOTION FOR A RESOLUTION Deterioration of fundamental freedoms in Hong Kong, notably the case of Jimmy Lai
MOTION FOR A RESOLUTION on the situation in Nicaragua
Written questions (9)
Telecom tariff hikes fuelled by inflation
Commission proposal on cross-border parenthood
Ineffectiveness of measures to contain buffalo brucellosis in Campania
Amendment of Regulation (EC) No 1223/2009
Amendment of the maritime transport facets of Directive EU 2023/959 (ETS Directive): a threat to the competitiveness of EU ports
Imbalance between sales prices and production costs of durum wheat in Italy
Regulation proposed by the Commission on combating late payments: business impact
Closure of the Frejus tunnel: a threat to the internal market and cross-border goods traffic
Rising flight prices in southern regions of the EU and territorial cohesion policy
Individual motions (1)
MOTION FOR A RESOLUTION on an EU Cardiovascular Action Plan
Amendments (233)
Amendment 80 #
2023/2044(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Welcomes the creation of the Talent Booster Mechanism aimed at boosting talent in regions facing, or at risk of facing, what the Commission calls a talent development trap; calls for clear and objective criteria regarding the definition of regions in, or at risk of, a talent development trap; highlights the potential of the Technical Support Instrument as support for the provision of specialist advice and targeted solutions for Member States, regions and local authorities with a view to addressing the multiple challenges that those territories are facing, including depopulation and skills shortages;
Amendment 114 #
2023/2044(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Considers it essential to improve the executive and managerial capacity of local administrations and job centres and to reduce bureaucracy, as well as to promote closer cooperation between the different institutions;
Amendment 121 #
2023/2044(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Recalls that it is essential that Member States, their regions and local authorities come up with innovative solutions tailored to each territory; welcomes the Commission’s proposal that Member States set up thematic and regional working groups to address specific challenges under the Talent Booster Mechanism, fostering exchanges of experiences and the dissemination of good practices, including through the introduction and use of platforms, and acknowledging the pilot role played by regional administrations that develop a strategy to attract and place value on talent;
Amendment 139 #
2023/2044(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Calls on the Commission to establish a platform that can incentivise and stimulate partnerships and agreements between public and private actors – including government bodies, non-profit actors, universities, research centres that are experts in the field, digital nomads, universities, start-ups, businesses, investors, scientific researchers, artists/creatives – with the aim of their working together and fostering growth in less developed territories;
Amendment 154 #
2023/2044(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. urges the Commission and the Member States to identify tax incentives and breaks for companies operating in European regions that are part of the ‘talent development trap’ so that those companies are in a position to retain and attract new talent;
Amendment 158 #
2023/2044(INI)
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
10b. Calls on the Commission, the Member States and the regional and local authorities to promote policies and instruments that foster local entrepreneurship, self-employment and alternative models of business development that make less developed regions more attractive;
Amendment 166 #
2023/2044(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Advocates ensuring regions’ access to quality public services such as health, education and social protection, as well as to essential transport infrastructure and digital connectivity, promoting measures to boost the accessibility of services and urban infrastructure, including for persons with disabilities;
Amendment 174 #
2023/2044(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Considers it essential to prioritise measures to facilitate work-life balanceaddress socio-educational needs and react to emerging healthy lifestyles by bolstering educational, recreational, cultural and sports provisions and promoting initiatives to support family and birth rates, guaranteeing access to childcare, working time flexibility and decent wages and working conditions;
Amendment 177 #
2023/2044(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Calls on the Commission to adopt appropriate settlement facilitation policies to meet housing needs for talent and to tackle the problem of accessibility in more inland and mountainous areas by means of proper investment in infrastructure, public services, connectivity, care and mobility, with a view to making those areas more attractive as places to study or find employment;
Amendment 182 #
2023/2044(INI)
Motion for a resolution
Paragraph 12 b (new)
Paragraph 12 b (new)
12b. Calls on the Commission and the Member States to work together and identify further measures to support birth rates and incentives for families with the aim of facilitating the return of talent from countries or regions other than the one that they come from and to curb brain drain;
Amendment 193 #
2023/2044(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Calls on the Commission to promote the deployment of social innovation hubs to boost the development of infrastructure and make innovative services more accessible;
Amendment 199 #
2023/2044(INI)
Motion for a resolution
Paragraph 13 b (new)
Paragraph 13 b (new)
13b. Encourages the Commission and the Member States to incentivise companies, particularly large ones, to offer workers the opportunity to work remotely, where the type of work allows it;
Amendment 201 #
2023/2044(INI)
Motion for a resolution
Paragraph 13 c (new)
Paragraph 13 c (new)
13c. Stresses the importance of creating a tax exemption system that is classified according to the quality of positions and profiles and that can be applied both to facilitate return to the region of origin and to prevent potential talent from moving abroad;
Amendment 9 #
2023/0397(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) To achieve these goals, special emphasis with respect to investment areas should be placed on sectors that are likely to function as key multipliers for social and economic development: connectivity, including transport, energy, green and digital transitions, education and skills development, health, trade and development of trade partnerships.
Amendment 16 #
2023/0397(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) Transport infrastructure is essential to improve connectivity between the Western Balkan partners and with the EU. It should contribute to integrate the region in the Union. In its proposal revising the trans-European transport framework (TEN- T), the Commission included a new Corridor crossing the Western Balkan region (Western-East Mediterranean corridor). The TEN-T network should be among the references for funding transport infrastructure in the region.
Amendment 18 #
2023/0397(COD)
Proposal for a regulation
Recital 7 a (new)
Recital 7 a (new)
(7 a) Stresses the importance of improving border management in the Balkan region. This could include the implementation of advanced border control technologies, training of border personnel, and the development of effective procedures for the identification and management of irregular migration flows.
Amendment 19 #
2023/0397(COD)
Proposal for a regulation
Recital 7 b (new)
Recital 7 b (new)
(7 b) Highlight the importance of supporting socio-economic development in the Balkan countries including through the promotion of employment and access to basic services such as education and health care.
Amendment 20 #
2023/0397(COD)
Proposal for a regulation
Recital 7 c (new)
Recital 7 c (new)
(7 c) Stresses the importance of promoting international and regional cooperation to address irregular migration flows. This could include working with other EU countries and international organizations to develop common migration management strategies and share responsibilities.
Amendment 34 #
2023/0397(COD)
Proposal for a regulation
Recital 14
Recital 14
(14) ,This Regulation should promote the Green Agendabalanced approach for the Western Balkans7 that takes into account both environmental and economic needs, by reinforcing environmental protection through a flexible transition, contributing to the mitigation of climate change and increasing resilience to climate change, and accelerating the shift towards a low-carbon economy. _________________ 7 SWD(2020)223 final, 6.10.2020.
Amendment 42 #
2023/0397(COD)
Proposal for a regulation
Recital 51
Recital 51
(51) The Commission shouldall provide an annual report on the progress with the implementation of the Regulation and the Facility to the European Parliament and to the Committee referred to in this Regulation.
Amendment 45 #
2023/0397(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point b
Article 3 – paragraph 1 – point b
(b) accelerate the socio-economic and territorial cohesion convergence of Beneficiaries’ economies with the Union;
Amendment 48 #
2023/0397(COD)
Proposal for a regulation
Article 3 – paragraph 2 – point b
Article 3 – paragraph 2 – point b
(b) boost regional economic integration and territorial cohesion, by facilitating the connection between them, in particular through progress in the establishment of the Common Regional Market;
Amendment 50 #
2023/0397(COD)
Proposal for a regulation
Article 3 – paragraph 2 – point d
Article 3 – paragraph 2 – point d
(d) support regional economic integration and enhanced integration with the EU single market through improved connectivity in the region in line with Transeuropean Networks; and promoting infrastructure development and the participation of member states and regions.
Amendment 67 #
2023/0397(COD)
Proposal for a regulation
Article 3 – paragraph 2 – point j a (new)
Article 3 – paragraph 2 – point j a (new)
(j a) Foster cooperation in the field of security and the fight against organized crime and the control of irregular migration flows through information exchanges, implementation of appropriate infrastructure, development of effective procedures for the identification and management, training of border personnel and cooperation between Member States and regions.
Amendment 74 #
2023/0397(COD)
Proposal for a regulation
Article 4 – paragraph 5
Article 4 – paragraph 5
5. Beneficiaries and the Commission shall ensure that equality between men and women, gender mainstreaming and the integration of a gender prespective are taken into account and promoted throughout the preparation of the Reform Agendas and the implementation of the Facility. Beneficiaries and the Commission shall take appropriate steps to prevent any discrimination based upon gender, racial or ethnic origin, religion or belief, disability, age or sexual orientation. The Commission will report on these measures in the context of its regular reporting under the Gender Action Plans.
Amendment 78 #
2023/0397(COD)
Proposal for a regulation
Article 4 – paragraph 7 a (new)
Article 4 – paragraph 7 a (new)
7 a. To ensure the efficiency of the financial instrument, Member States may launch regular and shared consultations with Beneficiaries to offer assistance in program formulation.
Amendment 85 #
2023/0397(COD)
Proposal for a regulation
Article 10 – paragraph 2
Article 10 – paragraph 2
2. The Commission shall inform the European Parliament and, the Council and Member States of commitment appropriations carried over in accordance with Article 12(6) of Regulation (EU, Euratom) 2018/1046.
Amendment 99 #
2023/0397(COD)
Proposal for a regulation
Article 14 – paragraph 4
Article 14 – paragraph 4
4. For the purpose of the assessment of the Reform Agendas submitted by the Beneficiaries, the Commission may be assisted by experts, which can assess the application of certain conditionalities on a case-by-case basis, allowing local, regional and national authorities to present arguments and plans tailored to their country's particular conditions.
Amendment 95 #
2023/0363(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 1092/2010
Article 15 – paragraph 11
Article 15 – paragraph 11
11. For sharing information as referred to in paragraphs 8, 9 and 10, the authorities referred to in paragraph 8 may enter into memoranda of understanding to specify the modalities of the exchange of information. They may also specify arrangements for the sharing of resources for the collection and processing of such shared data, provided that they comply with the applicable rules on data protection, intellectual property and professional secrecy.
Amendment 97 #
2023/0363(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
(c) those concerned have demonstrated that they are have the requisite technical means in that they possess instruments capable of fully ensuring the protection of privacy and confidentiality,
Amendment 99 #
2023/0363(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 1092/2010
Article 14 a (new)
Article 14 a (new)
14a. The ESRB shall, by 31 December 2024, report to the Commission all legal obstacles in sector-specific legislation preventing the ESRB from exchanging information with other authorities or bodies in any way. On the basis of that report and taking due account of the protection of intellectual property rights, professional secrecy obligations and data protection, the Commission shall, where appropriate, submit a legislative proposal to the European Parliament and the Council with a view to removing such legal obstacles in sector-specific legislation and facilitating the exchange of information between authorities and with other bodies.
Amendment 103 #
2023/0363(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 1
Article 2 – paragraph 1 – point 1
Regulation (EU) No 1093/2010
Article 29 – paragraph 1 – point d
Article 29 – paragraph 1 – point d
(d) reviewing the application of the relevant regulatory and implementing technical standards adopted by the Commission, and of the guidelines and recommendations issued by the Authority and proposing amendments where appropriate, including to remove redundant, disproportionate or obsolete reporting requirements and minimise costs;’; while maintaining the usability and quality of data.
Amendment 106 #
2023/0363(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
Regulation (EU) No 1093/2010
Article 30 – paragraph 3 – point e
Article 30 – paragraph 3 – point e
(e) the effectiveness of national reporting requirements and the degree of convergence and suitability of such requirements with the ones set out in Union law.’;
Amendment 112 #
2023/0363(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 5
Article 2 – paragraph 1 – point 5
Regulation (EU) No 1093/2010
Article 54 – paragraph 2 – indent 9
Article 54 – paragraph 2 – indent 9
– reporting and disclosure requirements and the collection of information from financial institutions.;
Amendment 120 #
2023/0363(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 4
Article 3 – paragraph 1 – point 4
Regulation (EU) No 1094/2010
Article 35 a – paragraph 7 a (new)
Article 35 a – paragraph 7 a (new)
7a. The Authority and the competent authorities shall, by 31 December 2024, report to the Commission all legal obstacles in sector-specific legislation that prevent them from exchanging information with other authorities or bodies in any way. On the basis of that report and taking due account of the protection of intellectual property rights, professional secrecy obligations and data protection, the Commission shall, where appropriate, submit by 30 June 2025 a legislative proposal to the European Parliament and the Council with a view to removing such legal obstacles in sector- specific legislation and facilitating the exchange of information between authorities and with other bodies.
Amendment 122 #
2023/0363(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 5
Article 3 – paragraph 1 – point 5
Regulation (EU) No 1094/2010
Article 54 – paragraph 2 – indent 9 a
Article 54 – paragraph 2 – indent 9 a
– reporting and disclosure requirements and the collection of information from financial institutions.;
Amendment 126 #
2023/0363(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point 1
Article 4 – paragraph 1 – point 1
Regulation (EU) No 1095/2010
Article 29 – paragraph 1 – point d
Article 29 – paragraph 1 – point d
(d) reviewing the application of the relevant regulatory and implementing technical standards adopted by the Commission, and of the guidelines and recommendations issued by the Authority and proposing amendments where appropriate, including to remove redundant, disproportionate or obsolete reporting requirements and minimise costs;’; while maintaining the usability and quality of data.
Amendment 131 #
2023/0363(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point 4
Article 4 – paragraph 1 – point 4
Regulation (EU) No 1095/2010
Article 35 a – paragraph 7 a (new)
Article 35 a – paragraph 7 a (new)
7a. The Authority and the competent authorities shall, by 31 December 2024, report to the Commission all legal obstacles in sector-specific legislation that prevent them from exchanging information with other authorities or bodies in any way. On the basis of that report and taking due account of the protection of intellectual property rights, professional secrecy obligations and data protection, the Commission shall, where appropriate, submit by 30 June 2025 a legislative proposal to the European Parliament and the Council with a view to removing such legal obstacles in sector- specific legislation and facilitating the exchange of information between authorities and with other bodies.
Amendment 133 #
2023/0363(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point 4 a (new)
Article 4 – paragraph 1 – point 4 a (new)
Regulation (EU) No 1095/2010
Article 35 a – paragraph 7 a
Article 35 a – paragraph 7 a
7a. The Authority and the competent authorities shall, by 31 December 2024, report to the Commission all legal obstacles in sector-specific legislation that prevent them from exchanging information with other authorities or bodies in any way. On the basis of that report and taking due account of the protection of intellectual property rights, professional secrecy obligations and data protection, the Commission shall, where appropriate, submit by 30 June 2025 a legislative proposal to the European Parliament and the Council with a view to removing such legal obstacles in sector- specific legislation and facilitating the exchange of information between authorities and with other bodies.
Amendment 134 #
2023/0363(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point 5
Article 4 – paragraph 1 – point 5
Regulation (EU) No 1095/2010
Article 54 – paragraph 2 – indent 9
Article 54 – paragraph 2 – indent 9
– reporting and disclosure requirements and the collection of information from financial market participants.;
Amendment 139 #
2023/0363(COD)
Proposal for a regulation
Article 5 – paragraph -1 (new)
Article 5 – paragraph -1 (new)
Regulation (EU) No 2021/523
Article 8 – paragraph 6 – introductory part
Article 8 – paragraph 6 – introductory part
The Commission shall develop sustainability guidance that, in accordance with Union environmental and social objectives and standards and, taking appropriate account of the principle of ‘do no significant harm’ and considering the differences between the various types of infrastructure projects, allows for:
Amendment 143 #
2023/0363(COD)
Proposal for a regulation
Article 5 – paragraph -1 a (new)
Article 5 – paragraph -1 a (new)
Regulation (EU) No 2021/523
Article 13 – paragraph 7 – subparagraph 2
Article 13 – paragraph 7 – subparagraph 2
Contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in point (a) of Article 16(1) under in connection withe EU guarantee referred to in the first subparagraph of Article 4(2) shall be signed at the latest one year after the approval of the relevant financing or investment operation by the implementing partnerby 31 August 2026 at the latest. In other cases, contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in point (a) of Article 16(1) shall be signed by 31 December 2028.
Amendment 147 #
2023/0363(COD)
Proposal for a regulation
Article 5 – paragraph -1 b (new)
Article 5 – paragraph -1 b (new)
Regulation (EU) No 2021/523
Article 17 – paragraph 2 – point (h)
Article 17 – paragraph 2 – point (h)
‘(h) financial and operational reporting and monitoring of the financing and investment operations under the EU guarantee; ensuring that reporting requirements are proportionate and enable the achievement of InvestEU’s objectives while minimising costs for all stakeholders and final beneficiaries, in line with the Union’s objective to reduce administrative burdens;’
Amendment 158 #
2023/0210(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point j – point iii
Article 2 – paragraph 2 – point j – point iii
(iii) instruments valid only in a single Member State or in a region, which are provided at the request of an undertaking or a public sector entity and regulated by a national or regional public authority for specific social or tax purposes to acquire specific goods or services from suppliers having a commercial agreement with the issuer;
Amendment 2 #
2023/0199(COD)
Proposal for a regulation
Recital 2
Recital 2
(2) The EU industry has proven its inbuilt resilience but is being challenged. High inflation, labour shortages, post- COVID supply chains disruptions, rising interest rates, and spikes in energy costs and input prices are weighing on the competitiveness of the EU industry. This is paired with strong, but not always fair, competition on the fragmented global market. The EU has already put forward several initiatives to support its industry, such as the Green Deal Industrial Plan,40 the Critical Raw Materials Act41 , the Net Zero Industry Act42 , the new Temporary Crisis and Transition Framework for State aid,43 Next Generation EU and REPowerEU.44 While these solutions provide fast and, targeted and, in some cases, temporary support, the EU needs a more structural answer to the investment needs of its industries, safeguarding cohesion and the level playing field in the Single Market and to reduce the EU’s strategic dependencies. _________________ 40 Communication on A Green Deal Industrial Plan for the Net-Zero Age, COM(2023) 62 final. 41 COM(2023) 160 final 42 COM(2023) 161 final 43 Communication on a Temporary Crisis and Transition Framework for State Aid measures (OJ C 101, 17.3.2023, p. 3). 44 Regulation (EU) 2023/435 as regards REPowerEU (OJ L 63, 28.2.2023, p. 1).
Amendment 11 #
2023/0199(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) There is a need to support critical technologies in the following fields: deep and digital technologies, clean technologies, and biotechnologies (including the respective critical raw materials value chains), in particular projects, companies and sectors with a critical role for EU’s competitiveness and resilience and its value chains; the entire CCS value chain; research projects and preliminary studies/analysis to support the development of innovative technologies. By way of example, deep technologies and digital technologies should include microelectronics, high-performance computing, quantum technologies (i.e., computing, communication and sensing technologies), cloud computing, edge computing, and artificial intelligence, cybersecurity technologies, robotics, 5G and advanced connectivity and virtual realities, including actions related to deep and digital technologies for the development of defence and aerospace applications. Clean technologies should include, among others, renewable energy; electricity and heat storage; heat pumps; electricity grid; renewable fuels of non- biological origin; sustainable alternative fuels; electrolysers and fuel cells; carbon capture, utilisation and storage; energy efficiency; hydrogen and its related infrastructure; smart energy solutions; technologies vital to sustainability such as water purification and desalination; advanced materials such as nanomaterials, composites and future clean construction materials, and technologies for the sustainable extraction and processing of critical raw materials. Biotechnology should be considered to include technologies such as biomolecules and its applications, pharmaceuticals and medical technologies vital for health security, crop biotechnology, and industrial biotechnology, such as for waste disposal, and biomanufacturing. The Commission may issue guidance to further specify the scope of the technologies in these three fields considered to be critical in accordance with this Regulation, in order to promote a common interpretation of the projects, companies and sectors to be supported under the respective programmes in light of the common strategic objective. Moreover, technologies in any of these three fields which are subjects of an Important Project of Common European Interest (IPCEI) approved by the Commission pursuant to Article 107(3), point (b) TFEU should be deemed to be critical, and individual projects within the scope of such an IPCEI should be eligible for funding, in accordance with the respective programme rulthrough dedicated EU resources, to the extent that the identified funding gap and the eligible costs have not yet been completely covered.
Amendment 19 #
2023/0199(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) Strengthening the manufacturing capacity of key technologies in the Union will not be possible without a sizeable skilled workforce including with digital skills, engineering and other technical skills . However, labour and skills shortages have increased in all sectors including those considered key for the green and digital transition (including, coordination and planning skills for more complex projects) and endanger the rise of key technologies, also in the context of demographic change. Therefore, it is necessary to boost the activation of more people to the labour market relevant for strategic sectors, in particular through the creation of jobs and apprenticeships for young, disadvantaged persons, in particular, young people not in employment, education or training. Such support will complement a number of other actions aimed at meeting the skills needs stemming from the transition, outlined in the EU Skills Agenda.45 _________________ 45 Communication on a European Skills Agenda for sustainable competitiveness, social fairness and resilience, COM(2020) 274 final.
Amendment 28 #
2023/0199(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) To that end, it should be possible to rely on assessments made for the purposes of other Union programmes in accordance with Articles 126 and 127 of Regulation (EU, Euratom) 2018/1046,52 in order to reduce administrative burden for beneficiaries of Union funds and encourage investment in priority technologies. Provided they comply with the provisions of the RRF Regulation,53 Member States should consider including actions awarded the Sovereignty Seal when preparvising their recovery and resilience plans and when proposing their Recovering and Resilience Plans and when deciding on investment projects to be financed from its share of the Modernisation Fund. The Sovereignty Seal should also be taken into account by the Commission in the context of the procedure provided for in Article 19 of the EIB Statute and of the policy check laid down in Article 23 of the InvestEU Regulation. In addition, the implementing partners should be required to examine projects having been awarded the Sovereignty Seal in case they fall within their geographic and activity scope in accordance with Article 26(5) of that Regulation. Authorities in charge of programmes falling under STEP should also be encouraged to consider support for strategic projects identified in accordance with the Net Zero Industry and the Critical Raw Materials Acts that are within the scope of Article 2 of the Regulation and for which rules on cumulative funding may apply. _________________ 52 Regulation (EU, Euratom) 2018/1046 on the financial rules applicable to the general budget of the Union (OJ L 193, 30.7.2018, p. 1). 53 Regulation (EU) 2021/241 establishing the Recovery and Resilience Facility (OJ L 57, 18.2.2021, p. 17).
Amendment 30 #
2023/0199(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) A new publicly available website (the ‘Sovereignty Portal’) should be set up by the Commission to provide information on available support to companies, including SMEs, and project promoters seeking funds for STEP investments. To that end, it should display in an accessible and user-friendly manner the funding opportunities for STEP investments available under the EU budget. This should include information about directly managed programmes, such as Horizon Europe, the Digital Europe programme, the EU4Health programme, and the Innovation Fund, and also other programmes such as InvestEU, the RRF, and cohesion policy funds. Moreover, the Sovereignty Portal should help increase the visibility for STEP investments towards investors, by listing the projects that have been awarded a Sovereignty Seal. The Portal should also list the national competent authorities responsible for acting as contact points for the implementation of the STEP at national level.
Amendment 35 #
2023/0199(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) While the STEP relies on the reprogramming and reinforcement of existing programmes for supporting strategic investments, it is also an important element for testing the feasibility and preparation of new interventions as a step towards critical test towards the establishment of a European Sovereignty Fund. TAt the latest with the evaluation in 2025 will assess the relevance of the actions undertaken anwill be assessed and the evaluation could serve as basis for assessing the need for an upscaling of the support towards strategic sectors.
Amendment 36 #
2023/0199(COD)
Proposal for a regulation
Recital 12
Recital 12
(12) Directive 2003/87/EC54 should be amended to allow for additional financing with a financial envelope for the period 2024-2027 of EUR 5 billion. The Innovation Fund supports investments in innovative low-carbon technologies, which is a scope that is to be covered by the STEP. The increase in volume of the Innovation Fund should therefore allow to provide financing responding to the objective of supporting the development or manufacturing in the Union of critical clean technologies. In line with the objectives of ensuring cohesion and promoting the Single Market, and in order to support the green transition and the development of clean technologies throughout the Union, the additional financial envelope should be made available through calls for proposals open to entities from Member States whose average GDP per capita is below the EU average of the EU-27 measured in purchasing power standards (PPS) and calculated on the basis of Union figures for the period 2015-2017. In addition, the additional financial envelope should be made available also to support entities participating in the IPCEIs in critical clean technologies. _________________ 54 Directive 2003/87/EC establishing a scheme for greenhouse gas emission allowance trading (OJ L 275, 25.10.2003, p. 32).
Amendment 44 #
2023/0199(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) In order to extend support possibilities for investments aimed at strengthening industrial development and reinforcement of value chains in strategic sectors, the scope of support from the ERDF should be extended by providing for new specific objectives under the ERDF, without prejudice to the rules on eligibility of expenditure and climate spending as set out in Regulation (EU) 2021/106055 and Regulation (EU) 2021/105856 . In strategic sectors, it should also be possible to support productive investments in enterprises other than SMEs, which can make a significant contribution to the development of less developed and transition regions, as well as in more developed regions of Member States with a GDP per capita below the EU average. Managing authorities are encouraged to promote the collaboration and partnerships between large enterprises and in particular local SMEs, supply chains, innovation and technology ecosystems. This would allow reinforcing Europe’s overall capacity to strengthen its position in those sectors through providing access to all Member States for such investments, thus counteracting the risk of increasing disparities. _________________ 55 Regulation (EU) 2021/1060 laying down common provisions (OJ L 231, 30.6.2021, p. 159). 56 Regulation (EU) 2021/1058 on the European Regional Development Fund and on the Cohesion Fund (OJ L 224, 24.6.2021, p. 31).
Amendment 56 #
2023/0199(COD)
Proposal for a regulation
Recital 18
Recital 18
(18) The regulatory framework for the implementation of the 2014-2020 programmes has been adapted over the past years to provide Member States and regions with additional with additional flexibility in terms of implementation rules and more liquidity to tackle the effects of the COVID-19 pandemic and the war or aggression against Ukraine. These measures, introduced at the end of the programming period, require sufficient time and administrative resources to be fully exploited and implemented; also at a time where Member States will focus resources on revising the 2021-2027 operational programmes linked to the STEP objectives. With a view to alleviate the administrative burden on programme authorities and to prevent possible loss of funds at closure for purely administrative reasons, the deadlines for the administrative closure of the programmes under the 2014-2020 period should be extended in Regulation (EU) No 1303/201361 and Regulation (EU) No 223/201462 . More specifically, the deadline for the submission of that final payment application should be extended by 12 months. Furthermore, the deadline for the submission of the closure documents should also be extended by 12 months. In the context of this amendment, it is appropriate to clarify that distribution of food and material bought until the end of the eligibility period (end-2023) may continue after that date. In order to ensure a sound implementation of the EU budget and respect for the payment ceilings, payments to be made in 2025 should be capped at 1 % of the financial appropriations from resources under the Multiannual Financial Framework per programme. Amounts due exceeding the ceiling of 1% of programme appropriations per fund for 2025 would not be paid in 2025 nor in subsequent years but only used for the clearance of pre-financingshould be paid within the framework of the payment of the final balance according to the article 141. Unused amounts shall be decommitted in accordance with the general rules for decommitment at closure. _________________ 61 Regulation (EU) 1303/2013 laying down common provisions (OJ L 347, 20.12.2013, p. 320). 62 Regulation (EU) 223/2014 on the Fund for European Aid on the Most Deprived (OJ L 72, 12.3.2014, p. 1).
Amendment 58 #
2023/0199(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) InvestEU is the EU flagship programme to boost investment, especially the green and digital transition, by providing demand-driven financing, including through blending mechanisms, and technical assistance. Such approach contributes to crowd in additional public and private capital. Given the high market demand of InvestEU guarantee, the EU compartment of InvestEU should be reinforced to correspond to the objectives of the STEP. This will, among other things, reinforce InvestEU’s existing possibility to invest in projects forming part of an IPCEI, within the identified critical technology sectors. In addition, Member States are encouraged to contribute to the InvestEU Member State compartment to support financial products in line with the STEP objectives, without prejudice to applicable State aid rules. It should be possible for Member States, on a voluntary bases, to include as a measure in their recovery and resilience plans a cash contribution for the purpose of the Member State compartment of InvestEU to support objectives of the STEP. That additional contribution to support objectives of the STEP could reach up to 6% of their recovery and resilience plan’s total financial allocation to the Member State compartment of InvestEU. Additional flexibility and clarifications should also be introduced to better pursue the objectives of the STEP.
Amendment 59 #
2023/0199(COD)
Proposal for a regulation
Recital 20
Recital 20
(20) Horizon Europe is the EU’s key funding programme for research and innovation, and its European Innovation Council (EIC) provides for support for innovations with potential breakthrough and disruptive nature with scale-up potential that may be too risky for private investors. Additional flexibility should be provided for under Horizon Europe, so that the EIC Accelerator can provide equity- only support to non-bankable SMEs, including start-ups, and non-bankable SMEs and small mid-caps, carrying out innovation in the technologies supported by the STEP and regardless of whether they previously received other types of support from the EIC Accelerator. The implementation of the EIC Fund is currently limited to a maximum investment amount of EUR 15 million except in exceptional cases and cannot accommodate follow-on financing rounds or larger investment amounts. Allowing for equity- only support for non-bankable SMEs and small mid-caps would address the existing market gap with investments needs in the range of EUR 15 to 50 million. The equity- only support shall be provided by additional financial resources provided by STEP regulation. Moreover, experience has shown that the amounts committed for the EIC Pilot under Horizon2020 are not fully used. These unused funds should be made available for the purposes of the EIC Accelerator under Horizon Europe. The Horizon Europe Regulation should also be amended to reflect the increased envelope for the European Defence Fund.
Amendment 72 #
2023/0199(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point b a (new)
Article 2 – paragraph 1 – point b a (new)
(ba) b) supporting the development or manufacturing throughout the Union of coherent and connected technologies, also proposed by the Member States and approved by the Commission, related to the conditions set out in paragraph 2.
Amendment 79 #
2023/0199(COD)
Proposal for a regulation
Article 2 – paragraph 3
Article 2 – paragraph 3
3. Where an Important Project of Common European Interest (IPCEI) approved by the Commission pursuant to Article 107(3), point (b) TFEU relates to any of the technology fields referred to in point (a) of paragraph 1, the relevant technologies shall be deemed to be critical and dedicated funds should be allocated to the IPCEI.
Amendment 88 #
2023/0199(COD)
Proposal for a regulation
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
1a. The Sovereignty Seal is awarded by default to Important Project of Common European Interest (IPCEI) approved by the Commission pursuant to Article 107(3), point (b) TFEU related to any of the technology fields referred to in point (a), paragraph 1 of article 2
Amendment 90 #
2023/0199(COD)
Proposal for a regulation
Article 4 – paragraph 3
Article 4 – paragraph 3
3. When revising their recovery and resilience plans in accordance with Regulation (EU) 2021/241, Member States shall, without prejudice to the provismay, even in derogations of that Regulationart. 21, if appropriate, consider as a priority actions which have been awarded a Sovereignty Seal in accordance with paragraph 1.
Amendment 93 #
2023/0199(COD)
Proposal for a regulation
Article 5 – paragraph 3
Article 5 – paragraph 3
3. The Commission shall report on monitoring and on the expenditure financed by the Platform, with reference to each of the relevant committed funds. It shall, as appropriate, report on the achievements related to each of the specific Platform objectives.
Amendment 103 #
2023/0199(COD)
Proposal for a regulation
Article 9 – paragraph 1 – point 1
Article 9 – paragraph 1 – point 1
Directive 2003/87/EC
Article 10 a – paragraph 8 – subparagraph 6 (new)
Article 10 a – paragraph 8 – subparagraph 6 (new)
In addition to the allowances referred to in the first to fifth subparagraphs of this paragraph, the Innovation Fund shall also implement a financial envelope for the period from 1 January 2024 to 31 December 2027 of EUR 5 000 000 000 in current prices for supporting investments contributing to the STEP objective referred to in Article 2, point (a)(ii) of Regulation .../...63 [STEP Regulation]. This financial envelope shall be made available to support investments only in Member States whose average GDP per capita is below the EU average of the EU-27 measured in purchasing power standards (PPS) and calculated on the basis of Union figures for the period 2015-2017 . In addition, up to XX % of the financial envelope shall be made available to create a window to support investments part of an IPCEI contributing to the STEP objective referred to in the aforementioned period. _________________ 63 Regulation …/… of the European Parliament and of the Council … [insert full title and OJ reference].
Amendment 127 #
2023/0199(COD)
Proposal for a regulation
Article 10 – paragraph 1 – point 4 – point a (new)
Article 10 – paragraph 1 – point 4 – point a (new)
Regulation (EU) 2021/1058
Article 5 – paragraph 2
Article 5 – paragraph 2
(a) (4) The Article 5(2) of the Regulation (EU) 2021/1058 is replaced by the following: 2. Productive investments in tangible and intangible assets, as defined in the State aid legislation, in enterprises other than SMEs may be supported:
Amendment 148 #
2023/0199(COD)
Proposal for a regulation
Article 13 – paragraph 1 – point 1 a (new)
Article 13 – paragraph 1 – point 1 a (new)
Regulation (EU) 2021/1060
Article 13 – paragraph 1
Article 13 – paragraph 1
(1a) In Article 13 “Amendment to the Partnership Agreement” paragraph 1 is replaced by the following: A Member State may submit to the Commission by 31 March 2024 an amended Partnership Agreement, taking into account the outcome of the mid-term review.
Amendment 149 #
2023/0199(COD)
Proposal for a regulation
Article 13 – paragraph 1 – point 1 b (new)
Article 13 – paragraph 1 – point 1 b (new)
Regulation (EU) 2021/1060
Article 18 – paragraph 1 – point a
Article 18 – paragraph 1 – point a
(1b) "In Article 18 paragraph 1 point a is replaced by the following" (a) The new challenge identified in relevant country specific recommendations in 2023
Amendment 150 #
2023/0199(COD)
Proposal for a regulation
Article 13 – paragraph 1 – point 1 c (new)
Article 13 – paragraph 1 – point 1 c (new)
Regulation (EU) 2021/1060
Article 18 – paragraph 2
Article 18 – paragraph 2
(1c) In Article 18 paragraph 2 is replaced by the following: The Member State shall submit an assessment for each programme on the outcome of the mid-term review, including a proposal for the definitive allocation of the flexibility amount referred to in the second subparagraph of Article 86(1), to the Commission by 31 March 2024.
Amendment 152 #
2023/0199(COD)
Proposal for a regulation
Article 14 – paragraph 1 – point 1
Article 14 – paragraph 1 – point 1
Regulation (EU) No 1303/2013
Article 135 – paragraph 6 (new) – subparagraph 2
Article 135 – paragraph 6 (new) – subparagraph 2
Amounts from resources other than REACT-EU reimbursed by the Commission as interim payments in 2025 shall not exceed 1 % of the total financial appropriations to the programme concerned by Fund, REACT-EU resources excluded. Amounts that would be due to be paid by the Commission in 2025 exceeding this percentage shall not be paid and shall be used exclusively for the clearing of pre- financing at closurepaid within the framework of the payment of the final balance according to the article 141.
Amendment 156 #
2023/0199(COD)
Proposal for a regulation
Article 14 – paragraph 1 – point 1 a (new) Regulation (EU) No 1303/2013
Article 14 – paragraph 1 – point 1 a (new) Regulation (EU) No 1303/2013
(1a) By way of derogation from Article 60(1) and the first and fourth subparagraphs of Article 120(3), a co- financing rate of 100 % may be applied to expenditure declared in the final accounting year for one or more priority axes in a programme supported by the ERDF, the ESF or the Cohesion Fund. By way of derogation from Article 30(1) and (2) and Article 96(10), the application of the co-financing rate of 100 % shall not require a Commission decision approving a programme amendment. The Member State shall notify the revised financial tables to the Commission following approval by the monitoring committee. The co-financing rate of 100 % shall apply only if the financial tables are notified to the Commission before the submission of the final application for an interim payment for the final accounting year in accordance with Article 135(2).
Amendment 164 #
2023/0199(COD)
Proposal for a regulation
Article 16 – paragraph 1 – point 6 a (new)
Article 16 – paragraph 1 – point 6 a (new)
Regulation (EU) 2021/523
Article 13 – paragraph 7
Article 13 – paragraph 7
(6a) Article 13(7) is replaced by the following: Contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in point (a) of Article 16(1) under the EU guarantee referred to in the first subparagraph of Article 4(2) shall be signed at the latest two years after the approval of the relevant financing or investment operation by the implementing partner. In other cases, contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in point (a) of Article 16(1) shall be signed by 31 December 2028.
Amendment 165 #
2023/0199(COD)
Proposal for a regulation
Article 16 – paragraph 1 – point 7
Article 16 – paragraph 1 – point 7
Regulation (EU) 2021/523
Article 23 – paragraph 3
Article 23 – paragraph 3
3. In the context of the procedures referred to in paragraphs 1 and 2 of this Article, without prejudice to the existing framework of the procedures provided for in Article 19 of the EIB Statute, the Commission shall take into account any Sovereignty Seal awarded under Article 4 of Regulation .../... [STEP Regulation] to a project.
Amendment 166 #
2023/0199(COD)
Proposal for a regulation
Article 16 – paragraph 1 – point 11
Article 16 – paragraph 1 – point 11
Regulation (EU) 2021/523
Article 35 – paragraph 5 a (new)
Article 35 – paragraph 5 a (new)
5a. The STEP Window should promote risk taking by implementing partners favouring their undertaking of subordinated positions in risky investment. Such risky projects would benefit from dedicated fast track process.
Amendment 137 #
2023/0167(COD)
Proposal for a directive
Recital 13
Recital 13
Amendment 145 #
2023/0167(COD)
Proposal for a directive
Recital 15
Recital 15
Amendment 150 #
2023/0167(COD)
Proposal for a directive
Recital 17
Recital 17
Amendment 158 #
2023/0167(COD)
Proposal for a directive
Recital 20
Recital 20
(20) The pricing process under Directives 2009/65/EC and 2011/61/EU should ensure that costs borne by retail investors are justified and proportionate to the characteristics of the product, and in particular to the investment objective and strategy, level of risk and expected returns of the funds, so that UCITS and AIFs deliver Value for Money to investors. UCITS and AIFs management companies should remain responsible for the quality of their pricing process. In particular, they should ensure that costs are comparable to market standards, including by comparing the costs of funds with similar investment strategies and characteristics available on publicly available databases. However, to make the pricing process more objective and to equip UCITS and AIFs management companies, and competent authorities with a tool allowing for an efficient comparison of costs among investment products from the same product type, ESMA should develop benchmarks, based on data related to the cost and performance of investment products that ESMA receives as part of the supervisory reporting, against which an assessment of Value for Money can be carried out, in addition to the other criteria included in the pricing process of UCITS and AIFs management companies. Considering the Commission’s priority to avoid unnecessary administrative burdens and to simplify reporting requirements, those benchmarks should build on existing data from public disclosures and supervisory reporting, unless additional data are exceptionally necessary. Investment funds offering poor Value for Money or deviating from ESMA’s benchmarks should not be marketed to retail investors unless further assessment has established that the product nevertheless offers Value for Money. The assessment and the measures taken should be documented and provided to competent authorities upon their request.
Amendment 180 #
2023/0167(COD)
Proposal for a directive
Recital 34
Recital 34
(34) To ensure that, in the context of advised services, due consideration is given to portfolio diversification, financial advisors should be systematically required to consider the needs of such diversification for their clients or customers, as part of the suitability assessments, including on the basis of information provided by those clients or customers on their existing portfolio of financial and non-financial assets.
Amendment 209 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3 a (new)
Article 1 – paragraph 1 – point 3 a (new)
Directive 2014/65/EU
Article 4 – paragraph 1 – point 48 a (new)
Article 4 – paragraph 1 – point 48 a (new)
(3a) ‘existing financial assets’ mean financial instruments, structured deposits, insurance-based investment products and the practice of portfolio management;
Amendment 234 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 1 – point e
Article 16–a – paragraph 1 – point e
(e) in relation to financial instruments falling under the definition of packaged retail investment products in accordance with Article 4(1) of Regulation (EU) No 1286/2014 of the European Parliament and of the Council*, a clear identification and quantification of all costs and charges related to the financial instrument and an assessment of whether those costs and charges are justified and proportionate, having regard to the characteristics, objectives and, if relevant, strategy of the financial instrument, and its performance and the quality and level of service provided to the customer by distributors (‘pricing process’).
Amendment 240 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 1 – subparagraph 3
Article 16–a – paragraph 1 – subparagraph 3
Amendment 258 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 1 – subparagraph 4
Article 16–a – paragraph 1 – subparagraph 4
Amendment 296 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 4 – subparagraph 3
Article 16–a – paragraph 4 – subparagraph 3
Amendment 310 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 4 – subparagraph 4
Article 16–a – paragraph 4 – subparagraph 4
Amendment 315 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 5 – subparagraph 1
Article 16–a – paragraph 5 – subparagraph 1
An investment firm which offers or recommends financial instruments falling under the definition of packaged retail products in accordance with Article 4(1) of Regulation (EU) No 1286/2014 shall report to its home competent authorities details of the costs of distribution, including any costs related to the provision of advice or any connected third-party payments.
Amendment 319 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Amendment 337 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 7 – point a
Article 16–a – paragraph 7 – point a
Amendment 341 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 7 – point b
Article 16–a – paragraph 7 – point b
Amendment 349 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 9
Article 16–a – paragraph 9
Amendment 364 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 11
Article 16–a – paragraph 11
Amendment 381 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 12 – subparagraph 1 – introductory part
Article 16–a – paragraph 12 – subparagraph 1 – introductory part
ESMA, after having consulted EIOPA and the competent authorities and taking into consideration the methodology referred to in paragraph 11, point (a), shall develop draft regulatory technical standards specifying the following:
Amendment 385 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 12 – subparagraph 1 – point a
Article 16–a – paragraph 12 – subparagraph 1 – point a
(a) the content and type of data and details of costs and charges to be reported to the competent authorities in accordance with paragraph 2, 5 and 65, based on disclosure and reporting obligations, unless additional data is exceptionally necessary;
Amendment 389 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 12 – subparagraph 1 – point b
Article 16–a – paragraph 12 – subparagraph 1 – point b
(b) the data standards and formats, methods and arrangements, frequency and starting date for the information to be reported in accordance with paragraph 2, 5 and 65.
Amendment 397 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2014/65/EU
Article 16–a – paragraph 12 – subparagraph 2
Article 16–a – paragraph 12 – subparagraph 2
ESMA shall submit those draft regulatory technical standards to the Commission by [18 months] after adoption of the delegated act referred to in paragraph 11the date of entry into force of this Directive.
Amendment 412 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 12 – point b
Article 1 – paragraph 1 – point 12 – point b
Directive 2014/65/EU
Article 24 – paragraph 1 a – point a
Article 24 – paragraph 1 a – point a
(a) to provide advice on the basis of an assessment of an appropriate range of financial instruments;, taking into account customers’ needs and objectives:
Amendment 416 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 12 – point b
Article 1 – paragraph 1 – point 12 – point b
(b) to recommend the most cost- efficient financial instruments among financial instruments identified as suitable to the client pursuant to Article 25(2) and offering similar features;
Amendment 527 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24a – paragraph 8
Article 24a – paragraph 8
Amendment 562 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24b – paragraph 1 – subparagraph 6
Article 24b – paragraph 1 – subparagraph 6
Amendment 565 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24b – paragraph 1 – subparagraph 7
Article 24b – paragraph 1 – subparagraph 7
Amendment 602 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24c – paragraph 2 – subparagraph 2
Article 24c – paragraph 2 – subparagraph 2
Amendment 606 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24c – paragraph 2 – subparagraph 3
Article 24c – paragraph 2 – subparagraph 3
The presentation of the essential characteristics of the financial instruments and services included in the marketing communications provided or made accessible to retail or potential retail clients, shall ensure that they can easily understand the key features of the financial instruments or services as well as the main risks associated with them, taking into account the nature and characteristics of the media used.
Amendment 624 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/65/EU
Article 24c – paragraph 8 – point a
Article 24c – paragraph 8 – point a
(a) the essential characteristics of financial instrument(s) or investment and ancillary service(s) to be disclosed in all marketing communications targeting retail clients or potential retail clients and any other relevant criteria to ensure that those essential characteristics appear in a prominent way and are easily accessible by an average retail client, regardless of the means of communicationtaking into account the nature and characteristics of the media used;
Amendment 640 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 14 – point a
Article 1 – paragraph 1 – point 14 – point a
Directive 2014/65/EU
Article 25 – paragraph 2 – subparagraph 1
Article 25 – paragraph 2 – subparagraph 1
Subject to the second subparagraph, when providing investment advice or portfolio management services, the investment firm shall obtain the necessary information regarding the client or potential client’s knowledge and experience in the investment field relevant to the specific type of product or service, that client’s financial situation, including the composition of any existing portfoliosfinancial activities belonging to the same portfolio for which the investment firm is carrying out the assessment of suitability in accordance with the agreement made with the client, its ability to bear full or partial losses, investment needs and objectives including sustainability preferences, if any, and risk tolerance, so as to enable the investment firm to recommend to the client or potential client the investment services or financial instruments that are suitable for that person, and, in particular, are in accordance with its risk tolerance, ability to bear losses and need for portfolio diversification.
Amendment 669 #
2023/0167(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 16
Article 1 – paragraph 1 – point 16
Directive 2014/65/EU
Article 35 a – paragraph 1 – subparagraph 1 – introductory part
Article 35 a – paragraph 1 – subparagraph 1 – introductory part
Member States shall require that investment firms and credit institutions providing investment services or activities report the following information annually to the competent authority of its home Member State when they provide investment services to more than 150 retail clients on a cross-border basis:
Amendment 743 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 16
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 1 – subparagraph 2 – point f
Article 25 – paragraph 1 – subparagraph 2 – point f
(f) in relation to insurance-based investment products, a clear identification and quantification of all costs and charges related to the product and an assessment of whether these costs and charges are justified and proportionate, having regard to the characteristics, objectives, strategy and performance of the product, as well as the guarantees and insurance coverage of biometric and other risks, and any other related service (pricing process);
Amendment 746 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 16
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 1 – subparagraph 3
Article 25 – paragraph 1 – subparagraph 3
Amendment 756 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 16
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 2
Article 25 – paragraph 2
Amendment 783 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 16
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 5 – subparagraph 3
Article 25 – paragraph 5 – subparagraph 3
Amendment 792 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 16
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 6
Article 25 – paragraph 6
Amendment 814 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 16
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 8 – subparagraph 1
Article 25 – paragraph 8 – subparagraph 1
Amendment 818 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 16
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 8 – subparagraph 2
Article 25 – paragraph 8 – subparagraph 2
Amendment 820 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 16
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 8 – subparagraph 2
Article 25 – paragraph 8 – subparagraph 2
The benchmark indicators shall display a range of costs and, performance and main insurance characteristics, in order to facilitate the identification of insurance- based investment products whose costs and, performance and main insurance characteristics depart significantly from the average.
Amendment 824 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 16
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 8 – subparagraph 3
Article 25 – paragraph 8 – subparagraph 3
The costs used for the development of benchmarks shall, in addition to the total product cost, indicators shall also include all costs of distribution, inclusive inducements. They shall, and allow comparison with individual cost components.
Amendment 827 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 16
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 8 – subparagraph 4
Article 25 – paragraph 8 – subparagraph 4
Amendment 833 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 16
Article 2 – paragraph 1 – point 16
Directive (EU) 2016/97
Article 25 – paragraph 9
Article 25 – paragraph 9
Amendment 864 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 18
Article 2 – paragraph 1 – point 18
Directive (EU) 2016/97
Article 26 a – paragraph 7 – subparagraph 2
Article 26 a – paragraph 7 – subparagraph 2
Such records shall be kept for a period of five years and, where requested by the competent authority, for a period of up to semaximum fiven years. Those records shall be retrievable by the insurance undertaking or insurance distributor upon request by the competent authority.
Amendment 871 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 20
Article 2 – paragraph 1 – point 20
Without prejudice to Article 18 and Article 19(1) and (2), Member States shall ensure that insurance intermediaries and insurance undertakings distributing insurance-based investment products provide customers in good time before the customers are bound by an insurance contract or offer, with appropriate information in personalised form about the insurance-based investment products proposed to those customers. That information shall contain all of the following:
Amendment 880 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 20
Article 2 – paragraph 1 – point 20
Directive (EU) 2016/97
Article 29 – paragraph 1 – point a – subpoint v
Article 29 – paragraph 1 – point a – subpoint v
(v) how the recommended insurance- based investment products take into account the diversification of the customer’s portfolio; where the customer has provided the relevant information;
Amendment 916 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 20
Article 2 – paragraph 1 – point 20
Directive (EU) 2016/97
Article 29 – paragraph 3 – point f
Article 29 – paragraph 3 – point f
Amendment 971 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 21
Article 2 – paragraph 1 – point 21
Directive 2016/97/EU
Article 29 a – paragraph 6
Article 29 a – paragraph 6
6. ThreFive years after the date of entry into force of Directive (EU) [OP Please introduce the number of the amending Directive] and after having consulted ESMA and EIOPA, the Commission shall assess the effects of third-party payments on retail investors, in particular in view of potential conflicts of interest and as regards the availability of independent advice, and shall evaluate the impact of the relevant provisionoverall effects of Directive (EU) [OP Please introduce the number of the amending Directive] on retail investors. If necessary to prevent consumer detriment, the Commission shall propose legislative amendments to the European Parliament and the Council.
Amendment 986 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 21
Article 2 – paragraph 1 – point 21
Directive (EU) 2016/97
Article 29 b – paragraph 1 – point a
Article 29 b – paragraph 1 – point a
(a) to provide such advice on the basis of an assessment of an appropriate range of insurance-based investment products and, where applicable, underlying investment assetoptions;
Amendment 992 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 21
Article 2 – paragraph 1 – point 21
Directive (EU) 2016/97
Article 29 b – paragraph 1 – point b
Article 29 b – paragraph 1 – point b
(b) to recommend the most cost- efficient insurance-based investment product and, where applicable, underlying investment assets among the insurance- based investment products identified as suitable for the customer pursuant to Article 30(1) and offering similar features; options identified as appropriate pursuant to Article 30(1) and offering similar features among insurance investment products that meet the customer’s requirements and needs, including with regard to costs and services offered;
Amendment 1020 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 22 – point b
Article 2 – paragraph 1 – point 22 – point b
Directive (EU) 2016/97
Article 30 – paragraph 1 – subparagraph 1
Article 30 – paragraph 1 – subparagraph 1
Without prejudice to Article 20(1), when providing advice on insurance-based investment products, the insurance intermediary or insurance undertaking shall obtain the information regarding the customer’s knowledge and experience in the investment field relevant to the specific type of insurance-based investment product or, where applicable, underlying investment assetoptions, offered or demanded that customer’s financial situation, including and, if provided by the customer, the composition of any existing portfolios, its ability to bear full or partial losses, investment needs and objectives, including any sustainability preferences, and risk tolerance, so as to enable the insurance intermediary or the insurance undertaking to recommend to the customer the insurance-based investment products that are suitable for that person and that, in particular, are in accordance with its risk tolerance, ability to bear losses and, where the customer has provided the relevant information, need for portfolio diversification.
Amendment 1030 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 22 – point b
Article 2 – paragraph 1 – point 22 – point b
Directive (EU) 2016/97
Article 30 – paragraph 1 – subparagraph 2
Article 30 – paragraph 1 – subparagraph 2
When providing advice on an independent basis to retail customers restricted to well- diversified, non-complex, and cost- efficient insurance-based investment products, the insurance intermediary or insurance undertaking shall be under no obligation to obtain information on the customer’s knowledge and experience about the considered insurance-based investment products or on the customer’s portfolio composition.
Amendment 1038 #
2023/0167(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 22 – point b
Article 2 – paragraph 1 – point 22 – point b
Directive (EU) 2016/97
Article 30 – paragraph 1 – subparagraph 3
Article 30 – paragraph 1 – subparagraph 3
When providing advice that involves switching between underlying investment assetoptions, insurance intermediaries and insurance undertakings shall obtain the necessary information on the customer’s existing underlying investment assetoptions and the recommended new investment assetoptions and shall analyse the expected costs and benefits of the switch, so that they are reasonably able to demonstrate that the benefits of switching are expected to be greater than the costs.
Amendment 1076 #
2023/0167(COD)
Proposal for a directive
Article 4 – paragraph 1 – point 1 – point a
Article 4 – paragraph 1 – point 1 – point a
Directive 2009/65/EC
Article 14 – paragraph 1 e – subparagraph 1
Article 14 – paragraph 1 e – subparagraph 1
Member States shall require management companies to assess at least annually the conditions mentioned in paragraph 1b, point (b). The assessment shall take into account the criteria set out in the pricing process and include a comparison with the relevant benchmark on costs and performance published by ESMA in accordance with paragraph 1f.
Amendment 1084 #
2023/0167(COD)
Proposal for a directive
Article 4 – paragraph 1 – point 1 – point a
Article 4 – paragraph 1 – point 1 – point a
Directive 2009/65/EC
Article 14 – paragraph 1 f
Article 14 – paragraph 1 f
Amendment 1095 #
2023/0167(COD)
Proposal for a directive
Article 4 – paragraph 1 – point 1 – point b – point iii
Article 4 – paragraph 1 – point 1 – point b – point iii
Directive 2009/65/EC
Article 14 – paragraph 2 – point e
Article 14 – paragraph 2 – point e
Amendment 1153 #
2023/0167(COD)
Proposal for a directive
Article 6 – paragraph 2
Article 6 – paragraph 2
2. They shall apply those provisions from … [OP please insert the date = 18 months after the date of entry into force of this Directive]18 months after the publication of all Level 2 and Level 3 measures.
Amendment 29 #
2023/0166(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Regulation (EU) No 1286/2014
Article 2 – paragraph 2 – point h
Article 2 – paragraph 2 – point h
Amendment 47 #
2023/0166(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Regulation (EU) No 1286/2014
Article 6 – paragraph 3 – point a
Article 6 – paragraph 3 – point a
(a) PRIIPs manufacturers provide investors with tools adapted to retail investors, including in tabular or graphical form, that facilitate research and comparison among the different investment options, including on costs;
Amendment 60 #
2023/0166(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a
Article 1 – paragraph 1 – point 5 – point a
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point a a
Article 8 – paragraph 3 – point a a
Amendment 69 #
2023/0166(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a
Article 1 – paragraph 1 – point 5 – point a
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point aa – point v a
Article 8 – paragraph 3 – point aa – point v a
(va) whether or not the PRIIP offers financial guarantees.
Amendment 83 #
2023/0166(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point d
Article 1 – paragraph 1 – point 5 – point d
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point g a
Article 8 – paragraph 3 – point g a
Amendment 108 #
2023/0166(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1286/2014
Article 14 – paragraph 2
Article 14 – paragraph 2
Amendment 113 #
2023/0166(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1286/2014
Article 14 – paragraph 3
Article 14 – paragraph 3
Amendment 122 #
2023/0166(COD)
Proposal for a regulation
Article 2 – paragraph 1
Article 2 – paragraph 1
This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. It shall apply from [PO please insert the date = 1824 months after the date of entry into force of this amending Regulationpublication of the delegated acts concerning the Directive of the European Parliament and of the Council amending Directives 2009/65/EC, 2009/138/EC, 2011/61/EU, 2014/65/EU and (EU) 2016/97 as regards EU rules protecting retail investors].
Amendment 189 #
2023/0138(COD)
Proposal for a regulation
Recital 8
Recital 8
(8) Detailed rules should therefore be laid down regarding the content, submission, assessment and monitoring of the national medium-term fiscal-structural plans, in order to promote debt sustainability and sustainable and inclusive growth in the Member Stat, investments and reforms, the common priorities of the Union, and sustainable and inclusive growth in the Member States, as well as to ensure the adequacy of the Union’s fiscal policies and prevent the occurrence of excessive government deficits through medium-term planning.
Amendment 209 #
2023/0138(COD)
Proposal for a regulation
Recital 12
Recital 12
(12) In order to simplify the Union fiscal framework and increase transparency, a single operational indicator anchored in debt sustainability should serve as a basis for setting the fiscal path and carrying out annual fiscal surveillance for each Member State. That single operational indicator should be based on nationally financed net primary expenditure, that is to say expenditure net of discretionary revenue measures and excluding interest expenditure as well as cyclical unemployment expenditure and, expenditure on Union programmes fully matched by revenue from Union funds. This indicator allows for macro-economic stabilisation as it is not affected by the operation of automatic stabilisers, including revenue and expenditure fluctuations outside the direct control of, national expenditure on co-financing of programmes funded by the Union and national expenditure on projects related to Recovery and Resilience Facility loans, both capped with a limit of 0.5% of GDP, cyclical elements of unemployment benefit expenditure and costs related to the borrowing of funds for the loans related to the National Plans in accordance with the gRecovernmenty and Resilience Facility and with Regulation (EU) 2021/241.
Amendment 218 #
2023/0138(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) To provide guidance to the Member States ininitiate the drafting of theirits national medium-term fiscal-structural plan, the Commissioneach Member State should put forward a proposal for a technical trajectory to the Commission. The trajectory should be based on the minimum fiscal adjustment that brings the debt trajectory of the Member State on a plausibly downward path or maintains debt at a prudent level. It should also ensure that the public debt ratio at the end of the planning horizon declines below its level in the year before the start of the technical trajectory. The sustainability of that debt reduction should result from appropriate fiscal policies.
Amendment 223 #
2023/0138(COD)
Proposal for a regulation
Recital 13 a (new)
Recital 13 a (new)
(13a) Following the submission of a Members State’s technical trajectory, a dialogue with the Commission should be initiated to assess compliance of its reference trajectory with the provisions of this Regulation.
Amendment 226 #
2023/0138(COD)
Proposal for a regulation
Recital 14
Recital 14
Amendment 233 #
2023/0138(COD)
Proposal for a regulation
Recital 15
Recital 15
(15) In order to assess whether further adjustments are required towards the end of the four-year implementation period of the national medium-term fiscal-structural plan, the Commission and the Member State should reassess the situation, and the Member State should put forward a new technical trajectory if the public debt of the Member State is still above 60% of GDP reference value or its government deficit is higher than 3% of GDP reference value.
Amendment 323 #
2023/0138(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
(2) ‘net expenditure’ means government expenditure net of interest expenditure, discretionary revenue measures and other budgetary variables outside the control of the government as set out in Annex II, point (a), expenditure on programmes of the Union fully matched by Union funds revenue, national expenditure on co- financing of programmes funded by the Union capped with a limit of 0.25% of GDP, cyclical elements of unemployment benefit expenditure, and costs related to the borrowing of funds for the loans related to the national Recovery and Resilience Facility Plans;
Amendment 334 #
2023/0138(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 3
Article 2 – paragraph 1 – point 3
(3) ‘technical trajectory’ means the net expenditure trajectory put forward by each Member State and subsequently negotiated with the Commission to provide guidance to Member States with public debt above the 60% of gross domestic product (GDP) reference value or government deficit above the 3% of GDP reference value when drawing up their national medium- term fiscal-structural plans;
Amendment 428 #
2023/0138(COD)
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
For each Member State having a public debt above the 60% of GDP reference value or a government deficit above the 3% of GDP reference value, the Commission shall put forward, in a report to the Economic and Financial Committee, a report on the technical trajectory for net expenditure, after the Member State concerned has submitted a proposal and after the dialogue referred to in Article 7(1a), for net expenditure covering a minimum adjustment period of 4 years of the national medium-term fiscal- structural plan, and its possible extension by a maximum of 3 years pursuant to Article 13. The Commission shall make the report public.
Amendment 490 #
2023/0138(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point e
Article 6 – paragraph 1 – point e
Amendment 501 #
2023/0138(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point e a (new)
Article 6 – paragraph 1 – point e a (new)
(ea) the measures contained in the national medium-term fiscal-structural plan are capable of ensuring the Member State’s growth and are therefore adequate to support strategic public investment;
Amendment 507 #
2023/0138(COD)
Proposal for a regulation
Article 6 – paragraph 2
Article 6 – paragraph 2
Amendment 526 #
2023/0138(COD)
Proposal for a regulation
Article 7 – paragraph 1 – point c
Article 7 – paragraph 1 – point c
Amendment 531 #
2023/0138(COD)
Proposal for a regulation
Article 7 – paragraph 1 a (new)
Article 7 – paragraph 1 a (new)
1a. By [1 March] of the year referred to in paragraph 1, each Member State shall submit its proposal for a technical trajectory to the Commission. That proposal shall take into account the information referred to in paragraph 1. Following the submission of a proposal, the Commission and the Member State shall engage in a dialogue with a view to ensuring that the proposed technical trajectory complies with Articles 5 and 6. The Commission shall provide the technical trajectories to the Council and the European Parliament, including the proposed trajectories put forward by the Member States, data, assumptions and calculations underlying the trajectories in a way that allows for reproduction.
Amendment 544 #
2023/0138(COD)
Proposal for a regulation
Article 7 – paragraph 3
Article 7 – paragraph 3
3. The CommissionEach Member State shall update the technical trajectories and the quantitative guidance at least once every 4 years in time for the submission of the next cycle of medium-term fiscal-structural plans.
Amendment 586 #
2023/0138(COD)
Proposal for a regulation
Article 9 – paragraph 1 a (new)
Article 9 – paragraph 1 a (new)
Prior to submission, the Member States shall discuss their draft national medium- term fiscal-structural plans with their national parliaments.
Amendment 609 #
2023/0138(COD)
Proposal for a regulation
Article 11 – paragraph 1 – subparagraph 2
Article 11 – paragraph 1 – subparagraph 2
Amendment 616 #
2023/0138(COD)
Proposal for a regulation
Article 11 – paragraph 2
Article 11 – paragraph 2
Amendment 647 #
2023/0138(COD)
Proposal for a regulation
Article 12 – paragraph 1 – point b
Article 12 – paragraph 1 – point b
(b) explain how it will ensure the delivery of investment and reforms responding to the main challenges identified within the European Semester, in the country-specific recommendations, correct the identified macroeconomic imbalances under the Macroeconomic Imbalances Procedure if applicable, and address the common priorities of the Union referred to in Annex VI of this Regulation, including the European Green Deal, European Pillar of Social Rights and the Digital Decade while being consistent with the updated National Energy and Climate Plans and the National Digital Decade Roadmaps;
Amendment 693 #
2023/0138(COD)
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 1
Article 13 – paragraph 2 – subparagraph 1
Amendment 750 #
2023/0138(COD)
Proposal for a regulation
Article 13 – paragraph 4
Article 13 – paragraph 4
4. During the lifetime of the Recovery and Resilience Facility, in accordance with Regulation (EU) 2021/241, commitments included in the approved Recovery and Resilience Plan of the Member State concerned can be taken into accoushall be considered sufficient for an extension of the adjustment period.
Amendment 779 #
2023/0138(COD)
Proposal for a regulation
Article 14 – paragraph 2
Article 14 – paragraph 2
2. Prior to the submission of the revised national medium-term fiscal- structural plan, the Commission shall put forward, in a report to the Economic and Financial Committee, athe new technical trajectory as agreed with the Member State.
Amendment 812 #
2023/0138(COD)
Proposal for a regulation
Article 15 – paragraph 2 – point a
Article 15 – paragraph 2 – point a
(a) whether the national medium-term fiscal-structural plan ensurprovides that public debt is put or kept on a plausibly downward path by the end of the adjustment period at the latest, or stays at prudent levels;
Amendment 831 #
2023/0138(COD)
Proposal for a regulation
Article 15 – paragraph 2 – point e
Article 15 – paragraph 2 – point e
Amendment 897 #
2023/0138(COD)
Proposal for a regulation
Article 18 – paragraph 1 – introductory part
Article 18 – paragraph 1 – introductory part
The Council shall, on a recommendation from the Commission, recommend to the Member State concerned that the technical trajectory issued by the Commission pursuant to Article 5 be the net expenditure path of the Member State where:
Amendment 1073 #
2023/0138(COD)
Proposal for a regulation
Annex I
Annex I
Amendment 10 #
2023/0081(COD)
Proposal for a regulation
Recital 15
Recital 15
(15) By defining CO2 storage sites that contribute to the Union’s 2030 target as net-zero strategic projects, the development of CO2 storage sites can be accelerated and facilitated, and the increasing industrial demand for storage sites can be channelled towards the most-cost-effective storage sites. An increasing volume of depleting gas and oil fields that could be converted in safe CO2 storage sites are at the end of their useful production lifetime. In addition, the oil and gas industry has affirmed its determination to embark on an energy transition and possesses the assets, skills and knowledge needed to explore and develop additional storage sites. To reach the Union’s target of 50 million tonnes of annual operational CO2 injection capacity by 2030, the sector na value-chain approach should be fostered by actions taken both at EU and national level in order for licenseeds to pool its contributions to ensure that carbon capture and storage as a climate solution is available ahead of demandof oil and gas production in the EU to take the measures within their power to undertake the necessary investments in carbon capture and storage and in order to develop a viable business model for the entire carbon dioxide value chain. In order to ensure a timely, Union-wide and cost- effective development of CO2 storage sites in line with the EU objective for injection capacity, licensees of oil and gas production in the EU should contribute to this target pro rata of their oil and gas manufacturing capacity, while providing flexibilities to cooperate and take into account other contributions of third parties.
Amendment 21 #
2023/0081(COD)
Proposal for a regulation
Recital 45
Recital 45
(45) Member States can provide support from cohesion policy programmes in line with applicable rules under Regulation (EU) 2021/1060 of the European Parliament and of the Council57 to encourage the take up of net-zero strategic projects in less developed and transition regions through investment packages of infrastructure, productive investment in innovation, manufacturing capacity in SMEs, services, training and upskilling measure, including support to capacity building of the public authorities and promoters. The applicable co-financing rates set in programmes may be up to 8590% for less developed regions and up to 60% or 7075% for transition regions depending on the fund concerned and the status of the region but Member States may exceed these ceilings at the level of the project concerned, where feasible under State aid rules. The Technical Support Instrument can help Member States and regions in preparing net-zero growth strategies, improve the business environment, reducing red tape and accelerating permitting. Member States should be encouraged to promote the sustainability of net-zero strategic projects by embedding these investments in European value chains, building notably on interregional and cross border cooperation networks. _________________ 57 Regulation (EU) 2021/1060 of the European Parliament and of the Council of 24 June 2021 laying down common provisions on the European Regional Development Fund, the European Social Fund Plus, the Cohesion Fund, the Just Transition Fund and the European Maritime, Fisheries and Aquaculture Fund and financial rules for those and for the Asylum, Migration and Integration Fund, the Internal Security Fund and the Instrument for Financial Support for Border Management and Visa Policy (OJ L 231, 30.6.2021, p. 159).
Amendment 64 #
2023/0081(COD)
Proposal for a regulation
Article 10 – paragraph 2 – introductory part
Article 10 – paragraph 2 – introductory part
2. Member States shall recognise as net-zero strategic projects CO2 capture projects, and CO2 infrastructure projects necessary for the transport of captured CO2 to CO2 storage sites, and CO2 storage projects that meet the following cumulative criteria:
Amendment 67 #
2023/0081(COD)
Proposal for a regulation
Article 10 – paragraph 2 a (new)
Article 10 – paragraph 2 a (new)
2a. the CO2 capture project and the CO2 infrastructure projects necessary to transport the captured CO2 to CO2 storage sites relevant for the rollout of the plans referred to in Article 18 (4)
Amendment 86 #
2023/0081(COD)
Proposal for a regulation
Article 14 – paragraph 2 a (new)
Article 14 – paragraph 2 a (new)
2a. 3. In order to accelerate implementation of projects to meet the EU objective set by Article 16, it shall be possible for Member States to cooperate on joint carbon dioxide storage projects under the mechanisms foreseen by Article 16.3 of this Regulation
Amendment 87 #
2023/0081(COD)
Proposal for a regulation
Article 15 – paragraph 1
Article 15 – paragraph 1
1. The Net-Zero Europe Platform as established in Article 28 shall discuss financial needs and bottlenecks of net-zero strategic projecttechnologies, potential best practices, in particular to develop EU cross-border supply chains, notably based on regular exchanges with the relevant industrial alliances. .
Amendment 88 #
2023/0081(COD)
Proposal for a regulation
Article 15 – paragraph 2 – introductory part
Article 15 – paragraph 2 – introductory part
2. The Net-Zero Europe Platform shall, at the request of the net-zero strategic project promoter, discuss and advise on how the financing of its project can be completed, taking into account the funding already secured and considering at least the following elements:
Amendment 91 #
2023/0081(COD)
Proposal for a regulation
Article 15 – paragraph 2 – point d a (new)
Article 15 – paragraph 2 – point d a (new)
(da) The Net-Zero Europe Platform shall propose the creation of an additional funding instrument at European Union level. This instrument shall provide an ambitious and accelerated financial support for large-scale net-zero technologies projects, both in terms of capital and operational expenditure for the entire supply chains, to create a competitive and attractive environment in the European Union and conditions of fair competition with third countries
Amendment 93 #
2023/0081(COD)
Proposal for a regulation
Article 16 – paragraph 1 a (new)
Article 16 – paragraph 1 a (new)
The Commission shall assess reports referred to in Article 18 (4) and submitted by entities referred to in Article 18 (1) by 31 January 2025 and shall adjust the target date of 2030 if necessary, with the aim of reflecting objective commercial, financial, technical, legal, and environmental limitations outside the control of the entities
Amendment 94 #
2023/0081(COD)
Proposal for a regulation
Article 17 – paragraph 1 – introductory part
Article 17 – paragraph 1 – introductory part
1. By 36 months from the entry into force of this Regulation, Member States shall:
Amendment 96 #
2023/0081(COD)
Proposal for a regulation
Article 17 – paragraph 1 – point a
Article 17 – paragraph 1 – point a
(a) make publicly available data on areas where CO2 storage sites can be permitted on their territory, including saline acquifers .
Amendment 97 #
2023/0081(COD)
Proposal for a regulation
Article 17 – paragraph 1 – point b
Article 17 – paragraph 1 – point b
(b) oblige entities holding an authorisation as defined inCall for holders of an authorisation in accordance with Article 1, point 3), of Directive 94/22/EC of the European Parliament and of the Council 71 on their territory to make publicly available to the public all geological data relating to production sites that have been decommissioned or whose decommissioning has been notified to the competent authority. _________________ 71 Directive 94/22/EC of the European Parliament and of the Council of 30 May 1994 on the conditions for granting and using authorizations for the prospection, exploration and production of hydrocarbons (OJ L 164, 30.6.1994, p. 3).Authority competent
Amendment 98 #
2023/0081(COD)
Proposal for a regulation
Article 17 – paragraph 1 – point c
Article 17 – paragraph 1 – point c
(c) Ffor the purposes of point (a), the data shall include at least thedisclosure of the data referred to point a) will refer to information requested in the Commission Notice on the GuidanceCommunication on guidelines to Member States for the updateing of the 2021-2030 National Energy and Climate Plans 2021 - 2030.
Amendment 99 #
2023/0081(COD)
Proposal for a regulation
Article 17 – paragraph 2 – introductory part
Article 17 – paragraph 2 – introductory part
2. By sixnine months from the entry into force of this Regulation and each year thereafter, each Member State shall submit to the Commission a report describing:
Amendment 100 #
2023/0081(COD)
Proposal for a regulation
Article 17 – paragraph 2 – point c
Article 17 – paragraph 2 – point c
(c) Member States are invited to indicate the national support measures that could be adoptetaken to promote CO2 capture and sto prompt projects referred to in points (a) and (b)rage projects. However, such reporting is optional, and Member States may only provide information on specific measures if they are considered relevant to the national situation in the annual reports.
Amendment 119 #
2023/0081(COD)
Proposal for a regulation
Article 28 – paragraph 4 – introductory part
Article 28 – paragraph 4 – introductory part
4. The Commission and Member States may coordinate within the Platform on the Net-Zero Industrial Partnerships and also with relevant third countries to help promote the adoption of net-zero technologies globally, to collaborate in the development of innovative technologies as defined under this act and to support the role of Union industrial capabilities in paving the way for the global clean energy transition, in line with the overall objectives of this Regulation stemming from Article 1 of this Regulation. The Platform may periodically discuss: (a)how to improve cooperation along the net-zero value chain between the Union and third countries; (b)how to address non-tariff barriers to trade, such as through mutual recognition of conformity assessment or commitments to avoid export restrictions; (c)which third countries should be prioritised for the conclusion of Net- Zero Industrial Partnerships, taking into account the following: i)the potential contribution to security of supply, taking into account their manufacturing capacity of net-zero and innovative technologies ; ii)whether there are existing cooperation agreements between a third country and the Union.
Amendment 120 #
2023/0081(COD)
Proposal for a regulation
Article 28 – paragraph 4 – introductory part
Article 28 – paragraph 4 – introductory part
4. The Commission and Member States may coordinate within the Platform on the Net-Zero Industrial Partnerships and also with relevant third countries to help promote the adoption of net-zero technologies globally to collaborate in the development of innovative technologies as defined under this act and to support the role of Union industrial capabilities in paving the way for the global clean energy transition, in line with the overall objectives of this Regulation stemming from Article 1 of this Regulation. The Platform may periodically discuss:
Amendment 124 #
2023/0081(COD)
Proposal for a regulation
Article 28 – paragraph 5
Article 28 – paragraph 5
5. Member Sstates shall supportand the Commission insupport the implementation of the cooperation measures set out in the Net- Zero Industrial Partnership. Net- Zero Industrial Partnerships will have the objective of facilitating trade among participants, including by favouring necessary investments within the Union and in third countries, enhancing resilience and sustainability of the supportive value chains promoting industrial application of high-tech strategic options, and guaranteeing a level playing field.
Amendment 1 #
2022/2188(INI)
Draft opinion
Recital A a (new)
Recital A a (new)
Aa. whereas the EU-UK Trade and Cooperation Agreement establishes preferential arrangements in areas such as trade in goods and services, intellectual property, digital trade, road transport and aviation, public procurement, energy, social security coordination, law enforcement and judicial cooperation in criminal matters, fisheries, competition, mobility, investment, thematic cooperation and participation in Union programmes;
Amendment 2 #
2022/2188(INI)
Draft opinion
Recital A b (new)
Recital A b (new)
Ab. whereas the Windsor Agreement covers a wide range of areas, such as customs, agri-food, medicines, state aid, VAT and excise duties;
Amendment 6 #
2022/2188(INI)
Draft opinion
Recital C a (new)
Recital C a (new)
Ca.. whereas on 27 February 2023, the European Commission and the UK Government reached political agreement on the Windsor Framework, which includes a comprehensive set of common solutions aimed at definitively addressing the practical challenges faced by Northern Ireland's citizens and businesses, as well as a commitment to preserve the Good Friday Agreement in all its parts;
Amendment 8 #
2022/2188(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Points out that the TCA, despite its lack of a regional dimension, provides a general framework for the UK’s participation in EU programmes, including Horizon Europe programme;; reiterates its call1to explore possibilities for the participation of parts of the UK in EU cohesion policy programmes; _________________ 1 European Parliament legislative resolution of 28 April 2021 on the draft Council decision on the conclusion, on behalf of the Union, of the Trade and Cooperation Agreement, Texts adopted P9_TA(2021)0140.
Amendment 10 #
2022/2188(INI)
Draft opinion
Recital K a (new)
Recital K a (new)
Ka. whereas on 17 May 2023 the Commission adopted a draft Memorandum of Understanding establishing a framework for structured financial services regulatory cooperation with the United Kingdom, and whereas the Memorandum will be submitted to the Council for final political endorsement before it can be signed by the Commission on behalf of the EU;
Amendment 13 #
2022/2188(INI)
Draft opinion
Recital K b (new)
Recital K b (new)
Kb. whereas the Memorandum of Understanding makes it clear that the European Union and the United Kingdom have a shared objective of preserving financial stability, market integrity and investor and consumer protection;
Amendment 14 #
2022/2188(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Believes that there is untapped potential for EU-UK subnational cooperation in areas of mutual interest, such as immigration, mobility – including of military personnel and assets, the sustainable management of the North Sea, the Channel and the Irish Sea, and climate action; supports dialogue and strategic cooperation between the EU and the UK on the most urgent common challenges from global security to strengthening energy security; stresses the need to support initiatives for bilateral and multilateral cooperation between EU and UK regions, such as the Straits Committee, possibly through a specific EU interregional cooperation fund, provided that the UK Government financially contributes to the fund;
Amendment 15 #
2022/2188(INI)
1. Notes that the Subsidy Control Act 1 1 2022 , which establishes a framework for meeting the UK’s international commitments on subsidy control, including those arising under the TCA, has received Royal Assent after being passed by the UK Parliament; expresses its concern about stated plans to introduce ‘free ports’, which risk contravening these commitments and could constitute impermissible State aid under the TCA2; calls for the Commission to monitor the situation closely and commence further infringement proceedings, if necessary; _________________ 1 Legislation.gov.uk, ‘'The Subsidy Control Act 2022: Chapter 23’', 28 April 2022. 2 The Financial Times, ‘EU to raise concerns over UK’s freeports scheme’, 30 November 2022.
Amendment 19 #
2022/2188(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Notes the limited nature of the TCA in relation to financial services; recognises that this absence is a consequence of the UK’s unwillingness to discuss other areas of mutual interest as part of the TCA negotiations; notes that there are plans towelcomes the adoption by the European Commission of the draft Memorandum of Understanding establishing a framework for structured financial services regulatory cooperation with the UK; welcomes the establishing of a joint EU-UK financial regulatory forum to facilitate dialogue and cooperation on financial services issues3; recalls that this forum would not constpoints out that the purpose of the Forum will be, among other objectives, to facilituate a formal part of the TCA and will not provide the same level of access or cooperation as a comprehensive financial services aregulatory cooperation between the parties in order to enhance transparency and identify potential cross-border enforcement problems; recalls that such a forum would not be a formal part of the Trade and Cooperation Agreement; _________________ 3 Reuters, ‘EU restarts work on EU-UK regulatory forum after Northern Ireland deal’, 8 March 2023.
Amendment 20 #
2022/2188(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Regrets the tensions that have arisen in Northern Ireland stemming from the implementation of the Northern Ireland Protocol and welcomes the fact that an agreement, referred to as the Windsor Framework, has been reached to remedy the implementation issues; hopes that the Windsor Framework will help strengthen relations between the parties by enabling them to fully exploit the potential of the TCA;
Amendment 24 #
2022/2188(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Underlines the importance of quantifying the effects of the TCA at regional level in order to adopt tailored measures for the most impacted regions and communities, businesses and producers;
Amendment 27 #
2022/2188(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Reiterates the fact that decisions on equivalence are not reciprocal and do not form part of the TCA; notes also the UK’s decisions on equivalence in respect of the EU and also in respect of other non-EU countries such as Switzerland, where mutual recognition status has been agreed; recalls that decisions on equivalence could benefit EU firms in terms of greater access to the UK market, including for banking and insurance; notes that the EU has only granted the UK equivalence status in one area – central counterparties – on a time- limited basis, recently extended until 2025; calls for further equivalence decisions to be considered; notes that as of October 2021, the EU had granted 22 equivalence decisions to the United States compared to one in the case of the UK4 ; supports the Commission’s position that decisions on equivalence should be made when they are in the EU’s interests; encourages the Commission to discuss further equivalence decisions in order to provide greater market access benefits to both EU and UK firms; hopes that the adoption of the Memorandum of Understanding will facilitate the resumption of equivalence assessments by the EU; _________________ 4 European Affairs Committee of the House of Lords, ‘1st Report of Session 2022–23: The UK-EU relationship in financial services’ , 23 June 2022.
Amendment 33 #
2022/2188(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Asks the Commission to properly involve the regional and local authorities in the process of scrutinising the implementation of the TCA; suggests that the EU and UK create a cooperation body for local and regional authorities within the framework of the TCA to foster communication and collaboration between the local and regional authorities.
Amendment 34 #
2022/2188(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Notes the desire of the British Government to adopt divergent regulation from the EU in respect of financial services, including by way of the Financial Services and Markets Bill5, which proposes to repeal, replace, or amend retained EU law in the area of financial services and to delegate greater responsibility to UK regulators; welcomnotes the EU’s recent progress on legislation in respect of financial services, even where this maycould result in regulatory divergence from the UK, including with respect to cryptocurrencies, taxonomy, listing and anti-money laundering; acknowledges that the UK and the EU may adopt different regulatory approaches in the area of financial services and may not necessarily maintain a harmonised regulatory regime; supportnotes the EU’s legislative progress in this area, even where this maycould result in regulatory divergence from the UK; stresses, however, the benefits of future regulatory cooperation; _________________ 5 UK Parliament, ‘Financial Services and Markets Bill’, 11 May 2023.
Amendment 39 #
2022/2188(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. NoteMaintains that the TCA offers the EU an opportunity to develop and strengthen its own financial services infrastructure and expertise in order to foster business competitiveness, economic stability and consumer protection; strongly supports the completion of the capital markets union and the banking union, based on an approach that is outward-looking, innovative and competitive, in order to ensure the flow of investments and savings in all Member States to the benefit of citizens, businesses and investors; recalls that the City of London remains a major centre for financial services with a global reach6 ; recognises the importance of a strong financial services sector for both the EU and the UK and supports efforts to enhance the EU’s financial services infrastructure and expertise; _________________ 6 Reuters, ‘London is top global finance centre but lags in key areas, says study’, 27 January 2022.
Amendment 41 #
2022/2188(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Calls on the EU to work with international partners, including the UK and other major global financial centres, to promote common rules and standards in the area of financial services in order to facilitate cross-border trade and ensure the stability of the financial system;
Amendment 54 #
2022/2188(INI)
Draft opinion
Paragraph 9
Paragraph 9
9. Strongly supports continued cooperation between the EU and the UK in areas related to economic and monetary affairs that are of mutual interest, including tackling money laundering, terrorist financing and customs fraud, countering harmful tax regimes, implementing sanctions and promoting global financial stability;
Amendment 65 #
2022/2188(INI)
Draft opinion
Paragraph 12
Paragraph 12
12. RegretsConsiders regrettable the lack of specific structures for dialogue and engagement between the EU and the UK in the area of financial services; recalls the commitment, in the first Joint Declaration accompanying the TCA, to signing an MoU on financial services regulatory cooperation between the EU and the UK, which would not be a legal document but would provide a basis for regular, structured engagement; notes that this memorandum has not yet been signed; stresses also that should it prove impossible for the Memorandum of Understanding on financial services regulatory cooperation to be finalised or signed, then reasonable alternatives should be considered for facilitating structured dialogue and regular engagement between the EU and the UK in the area of financial services, in order to promote effective and stable cooperation.
Amendment 71 #
2022/2188(INI)
Draft opinion
Paragraph 13
Paragraph 13
13. Welcomes the successful signing of bilateral MoUs between EU and UK regulators and supervisors at both EU and Member State levels, including between the Financial Conduct Authority and the European Banking Authority and the European Securities and Markets Authority, a multilateral MoU with EU and European Economic Area national competent authorities and individual MoUs with national competent authorities9; calls for an MoU establishing a forum for regulatory cooperation in the area of financial services between the EU and the UK to be signed; recognises that such a memorandum would provide a structured platform for addressing any regulatory issues that may arise in the future, such as sharing information on regulatory developments, exchanging views on macro-prudential developments and risks to financial stability, and exchanging information on efforts to prevent and combat money laundering and terrorist financing in relation to the financial services sector; _________________ 9 The Financial Conduct Authority, ‘MoUs with European authorities in the areas of securities, investment services and asset management, insurance and pensions, and banking’, 4 January 2021.
Amendment 80 #
2022/2188(INI)
Draft opinion
Paragraph 14
Paragraph 14
14. Strongly reiterates the importance of protecting the Good Friday Agreement and supporting peace and reconciliation in Northern Ireland; recalls the UK Government’s threatened actions, which would be deemed to be in violation of the TCA, particularly with respect to the Northern Ireland Protocol as contained in the Northern Ireland Protocol Bill 2022, in which the UK Government proposed removing the jurisdiction of the Court of Justice of the EU over the Protocol, and for which the Commission commenced infringement proceedings against the UK; recogniseswelcomes the fact that an agreement has been reached on the Windsor Framework10 and that the British Government has announced its intention to suspend work on the Northern Ireland Protocol Bill and to allow it to lapse. _________________ 10 His Majesty’s Government, ‘The Windsor Framework: A new way forward’ (Windsor framework: a new way forward), February 2023.
Amendment 6 #
2022/2170(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Believes that the EU’s cohesion policy funds aimed at territorial, economic and social cohesion are crucial for supportinghelping individuals and areas more affected by the transition towards climate neutrality, ensuring that no one is left behind, while guaranteeing the creation of high-quality employment opportunities in the regions;
Amendment 11 #
2022/2170(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Notes that the type of action needed to create new jobs should take into account the specific nature of the area and the level of impact on regional and local competitiveness;
Amendment 12 #
2022/2170(INI)
Draft opinion
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Notes that the JTF provides support by channelling subsidies into the sectors most vulnerable to the possible consequences of climate transition with the aim of ensuring the balanced and homogeneous development of the areas concerned;
Amendment 18 #
2022/2170(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Welcomes the concept of a ‘'just transition’, considering it a unique principle that must permeate all aspects of the transition to climate neutralit' as an economically and socially sustainable process to be carried out progressively and pragmatically; notes that an ambitious, comprehensive, just and fair transition is needed that is able to address the unintended distributional effects of the green transition, such as greater regional inequalities, job losses and declining competitiveness of European companies linked to the green transition; highlights that the Just Transition Fund (JTF) is a key cohesion policy instrument supporting regions impacted by the transition towards a net- zero economy and suggests expanding and broadening the JTF’s scope to include other industrial sectors and regions;
Amendment 22 #
2022/2170(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Believes that social impact investment (SII) is no substitute for public social spending; notes, however, that SII based on inclusion, equality and employment can complement cohesion funds in tackling the challenges encountered on the path towards climate neutrality, provided it has a measurable social effect on inclusion, equality and employment; underlines that any adjustment of the legal, regulatory and economic framework for SII must meet these requirements;
Amendment 28 #
2022/2170(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Notes that the green transition has a strong gender dimension, with women tending to be under-represented in green jobs and men tending to be more affected by the disappearance of carbon-intensive jobs; underlines, therefore, the need for a gender perspective when designing and implementing all transition policies to avoid deepening the divides within local labour markets;
Amendment 33 #
2022/2170(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Remains convinced that a just transition has the potential to not only convert the EU into a successful net-zero economy, but also make it a global model for this existentially necessary transformation; hHighlights that cohesion policy is an essential tool on the path towards a net- zero economy and believes that the debate on the future of EU cohesion policy, including funding for 2028-2035, must be guided by the need to assist the Member States on this path in order to promote the more effective take-up of resources by regional and local communities.
Amendment 38 #
2022/2170(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Notes that the just transition fund (JTF) should address the social and economic effects of the transition and promote diversification of the local production system while mitigating the impact on employment; stresses that the Just Transition Fund can offer a real possibility to support the unemployed and workers at risk as a result of the transition;
Amendment 40 #
2022/2170(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. In connection with the future revision of the related legislative framework, is convinced of the need for the cohesion policy budget to be tailored to the multiple challenges related to the transition, primarily to facilitate employment and the creation of new jobs; to this end, calls on the Commission to ensure that existing funding is sufficiently flexible to avoid creating disparities within the single market.
Amendment 8 #
2022/2059(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the Mediterranean basin, which consists of EU Member States, candidate and third countries, is the living environment of 250 million inhabitants, half of whom live in the European Union; whereas the strengthening of cooperation within and beyond the EU’s borders is of the utmost importance to address common challenges such as pollution and climate change; socio-economic, migratory and security challenges, environmental deterioration, pollution and climate change, the proliferation of extreme weather events, water shortages, biodiversity loss and food insecurity;
Amendment 11 #
2022/2059(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas the Mediterranean basin is a cohesive geographical area whose inhabitants share a common historical, cultural and environmental heritage;
Amendment 42 #
2022/2059(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Recalls that the Union is responsible for half of the Mediterranean basin and cannot remain passive in the face of the multiple political, social, economic, demographic and environmental challenges confronting the area;
Amendment 44 #
2022/2059(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Notes that the Mediterranean basin has been hit by an ever-increasing number of extreme weather events and natural disasters in recent years;
Amendment 49 #
2022/2059(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that cohesion policy has an under-used potential for action to provide appropriate responses to the challenges facing 110 million Europeans; believes that the measures provided for under cohesion policy must be coordinated and complementary to measures under the EMFF, the NRRP and other national policies;
Amendment 65 #
2022/2059(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Highlights the potential of all the Mediterranean regions for the development of renewable energy sources and for a just and inclusive ecological transition; feels that it would be worthwhile, in order to ensure energy autonomy and security, for the European Union to work towards making the Mediterranean basin a European-level energy hub;
Amendment 78 #
2022/2059(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Recalls that overfishing is still a threat to the survival of many species; is convinced that the development of a blue economy can supportfoster sustainable and inclusive development and quality jobs, with the direct involvement of fisheries sector operators and the representatives of coastal communities;
Amendment 94 #
2022/2059(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Emphasises that despite having many common features, the Mediterranean area is characterised by a range of disparities in levels of development, and notes that these disparities, including shortfalls in institutional and administrative capacities, infrastructure interconnections and trade relations, affect the stability, prosperity and security of the whole area;
Amendment 108 #
2022/2059(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Considers that the diversity and the size of the territory concerned calls for the implementation of three distinct but coordinated strategies, namely strategies for the Western Mediterranean, the Adriatic and Ionian Seas, and the Eastern Mediterranean; calls for the support of the countries and authorities concerned and for a central role of regions and of local authorities in their governance;
Amendment 200 #
2022/0411(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10 – point a – point i
Article 1 – paragraph 1 – point 10 – point a – point i
The Commission shall adopt delegated acts in accordance with Article 44 to supplement this Regulation regarding the standardised format and standardised sequence of the prospectus, the base prospectus and the final terms, and the schedules defining the specific information to be included in a prospectus, including LEIs and ISINs, avoiding duplication of information when a prospectus is composed of separate documents.; Moreover, the delegated acts shall provide rules for a different information sequence and for a higher maximum length, as referred in Article 6, respectively in paragraph 2 and 4, in relation to prospectuses for admission to trading on a regulated market when securities of the same class are simultaneously offered for subscription or privately placed.”
Amendment 223 #
2022/0411(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 17 – point ba (new)
Article 1 – paragraph 1 – point 17 – point ba (new)
Regulation (EU) 2017/1129
Article 19 – paragraph 4a (new)
Article 19 – paragraph 4a (new)
Amendment 23 #
2022/0341(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) Ensuring that all PSUs in the Union are able to place payment orders for and receive instant credit transfers in euro is a precondition for an increased uptake of such transactions. Currently, at least one third of PSPs in the Union do not offer instant credit transfers in euro. Moreover, the rate at which PSPs have been adding instant credit transfers to their services has been, over the last few years, too slow, which hinders further integration of the Union’s internal payments market. Therefore, PSPs should be required to offer the service of sending and receiving instant credit transfers in euro, at the least via digital channels.
Amendment 28 #
2022/0341(COD)
Proposal for a regulation
Recital 8
Recital 8
(8) There is a variety of interfaces through which PSUs can place a payment order for a credit transfer in euro, including via online banking, a mobile application, an automated teller machine, in a branch, or by phone. To ensure that all PSUs have access to instant credit transfers in euro, there should be no difference in terms of the interfaces through which PSUs can place payment orders for instant and other types of credit transfer transactions. Moreover, where it is possible for aIn order to promote digitalisation in the payment sector, the PSPs should be obliged to provide the service – at both the payment order and receiving phases – via their own digital channels. Moreover, aside from this obligation, the PSUs may decide to allow the PSUs to submit to a PSPinitiate and execute a payment orders for an instant credit transfers packaged together, that same possibility should also be available with respect to instant credit transfers in euro in euro via other interfaces too (at an automated teller machine, in branch, by phone or on paper). PSPs should be able to offer all credit transfers in euro initiated by their PSUs as instant by default via digital channels.
Amendment 47 #
2022/0341(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) Security of instant credit transfers in euro is fundamental for increasing PSUs’ confidence in such services and ensuring their use. Payers intending to send a credit transfer to a given payee may, as a result of fraud or error, provide a payment account identifier which does not correspond to an account held by that payee. Under Directive (EU) 2015/2366 of the European Parliament and of the Council37, the only determinant of the correct execution of the transaction with respect to the payee is the unique identifier, and PSPs are not required to verify the name of the payee. In the case of instant credit transfers, there is not enough time for the payer to realise the occurrence of a fraud or error and to try to recover the funds before they are credited to the payee’s account. PSPs should therefore verify whether there is any discrepancy between the unique identifier of the payee and the name of the payee provided by the payer, and notify the payer placing a payment order for an instant credit transfer in euro about any such discrepancies detected. To avoid undue frictions or delays in the processing of the transaction instantly, the payer’s PSP should provide such notification within no more than a few seconds from the moment the payer provided the payee information. To allow the payer to decide whether to proceed with the intended transaction, the payer’s PSP should provide such notification before the payer authorises the transaction. What is more, in order to combat the perpetration of illegal acts, such as fraud, swindling and money laundering, PSPs should provide for the introduction of a cap on transfers by instant bank transfer, based on risk assessments. __________________ 37 Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (OJ L 337, 23.12.2015, p. 35).
Amendment 118 #
2022/0341(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
(a) they shall ensure that payers are able to place a payment order for an instant credit transfer through the same PSU interfaces as the ones through which those payers can place a payment order for other credit transferir own digital channels;
Amendment 124 #
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 (aa)
Article 5a – paragraph 2 – point (aa)
(aa) Notwithstanding point (a), PSPs may decide to allow payers to place instant payment orders through other PSU interfaces referred to in Article 2, paragraph 1b.
Amendment 138 #
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 3
Article 5a – paragraph 3
Amendment 152 #
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 5 a – paragraph 4 – subparagraph 1
Article 5 a – paragraph 4 – subparagraph 1
PSPs as referred to in paragraph 1 that are located in a Member State whose currency is the euro shall offer PSUs the service of receiving instant credit transfers in euro by … [PO please insert the date = 618 months after the date of entry into force of this Regulation], and the service of sending instant credit transfers in euro by … [PO please insert the date = 124 months after the date of entry into force of this Regulation].
Amendment 158 #
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 5 a – paragraph 4 – subparagraph 2
Article 5 a – paragraph 4 – subparagraph 2
PSPs as referred to in paragraph 1 that are located in a Member State whose currency is not the euro shall offer PSUs the service of receiving instant credit transfers in euro by …[ [PO please insert the date = 306 months after the date of entry into force of this Regulation], and the service of sending instant credit transfers in euro by …[ [PO please insert the date = 3642 months after the date of entry into force of this Regulation].
Amendment 161 #
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 5 a – paragraph 4 a (new)
Article 5 a – paragraph 4 a (new)
(4a) In order to combat the perpetration of illegal acts, such as fraud, swindling and money laundering, PSPs should provide for the introduction of a cap on transfers by instant bank transfer, based on risk assessments. It shall not, in any event, be possible to make instant transfers in cases where a PSU wishes to carry out one or more transactions to the same beneficiary, within a period of 72 hours, for a total amount exceeding EUR 10 000. Article 5a (5) shall not apply in cases of inter-company transfers.
Amendment 174 #
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 5 c
Article 5 c
PSPs located in a Member State whose currency is the euro shall comply with this Article by …[ PO please insert the date = 618 months after the date of entry into force of this Regulation].
Amendment 176 #
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 5 b – paragraph 2 – subparagraph 2
Article 5 b – paragraph 2 – subparagraph 2
PSPs located in a Member State whose currency is not the euro shall comply with this Article by …[ PO please insert the date = 306 months after the date of entry into force of this Regulation].
Amendment 232 #
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 5 c – paragraph 6 – subparagraph 1
Article 5 c – paragraph 6 – subparagraph 1
Amendment 244 #
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 5 c– paragraph 6 – subparagraph 2
Article 5 c– paragraph 6 – subparagraph 2
PSPs located in a Member State whose currency is not the euro shall comply with this Article by …[PO please insert the date = 3642 months after the date of entry into force of this Regulation].
Amendment 255 #
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 5 d– paragraph 1 – subparagraph 2
Article 5 d– paragraph 1 – subparagraph 2
PSPs shall carry out such verifications immediatwithout undue delay after the entry into force of any new or amended restrictive measures adopted in accordance with Article 215 TFEU providing for asset freeze or prohibition of making funds or economic resources available , and at least once every calendar day.
Amendment 265 #
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 5 d – paragraph 4
Article 5 d – paragraph 4
4. PSPs shall comply with this Article by …[ PO please insert the date = 612 months after the date of entry into force of this Regulation].’