2 Amendments of Anne SANDER related to 2017/0358(COD)
Amendment 120 #
Proposal for a directive
Article 30 – paragraph 1 – point j – point 3 a (new)
Article 30 – paragraph 1 – point j – point 3 a (new)
(3a) Non-listed investment firms which may not be in a situation to pay any part of variable compensation in instruments as prescribed above may include an ad hoc firm level solvency and financial performance payment criteria in their differed compensation scheme.
Amendment 198 #
Proposal for a directive
Article 58 – paragraph 1 – point 3 a (new)
Article 58 – paragraph 1 – point 3 a (new)
Directive 2014/65/EU
Article 42
Article 42
(3a) Article 42 is replaced by the following: “Article 42 Provision of services at the exclusive initiative of the client 1. Member States shall ensure that where a retail client or professional client within the meaning of Section II of Annex II established or situated in the Union initiates at its own exclusive initiative the provision of an investment service or activity by a third-country firm, the requirement for authorisation under Article 39 shall not apply to the provision of that service or activity by the third country firm to that person including a relationship specifically relating to the provision of that service or activity. An initiative by such clients shall not entitle the third-country firm to market otherwise than through the branch, where one is required in accordance with national law, new categories of investment products or investment services to that client. Where a third-country firm, including through an entity acting on its behalf or having close links with such third-country firm or any other person acting on behalf of such entity, solicits clients or potential clients in the Union or promotes or advertises investment services or activities together with ancillary services in the Union, regardless of the means of communication used, it shall not be deemed as a service provided at the own exclusive initiative of the client. Any contractual clause or disclaimer purporting to state that a third country firm shall be deemed to respond to the exclusive initiative of the client shall be null and void. 2. An initiative by any client referred to in paragraph 1 shall not in itself entitle the third-country firm to market otherwise than through the branch, where one is required in accordance with national law, new categories of investment products or investment services to that client. 3. ESMA shall develop draft regulatory technical standards to further specify the conditions for considering that investment products or investment services constitute new categories of investment products or investment services for the purpose of paragraph 2. ESMA shall submit those draft regulatory technical standards to the Commission by [date to be inserted]. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Article 15 of Regulation (EU) No 1095/2010.” Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A32014L0065)