Activities of Marian HARKIN related to 2015/0268(COD)
Plenary speeches (1)
Prospectus to be published when securities are offered to the public or admitted to trading (A8-0238/2016 - Petr Ježek)
Amendments (20)
Amendment 266 #
Proposal for a regulation
Article 1 – paragraph 3 – point b
Article 1 – paragraph 3 – point b
(b) an offer of securities addressed to fewer than 15300 natural or legal persons per Member State, other than qualified investors;
Amendment 279 #
Proposal for a regulation
Article 1 – paragraph 3 – point d
Article 1 – paragraph 3 – point d
(d) an offer of securities with a total consideration in the Union of less than EUR 510 000 000, which shall be calculated over a period of 12 months;
Amendment 290 #
Proposal for a regulation
Article 1 – paragraph 4 – point b
Article 1 – paragraph 4 – point b
(b) shares resulting from the conversion or exchange of other securities or from the exercise of the rights conferred by other securities, where the resulting shares are of the same class as the shares already admitted to trading on the same regulated market, provided that the resulting shares represent, over a period of 12 months, less than 20 per cent of the number of shares of the same class already admitted to trading on the same regulated market. Where a prospectus was drawn up in accordance with either this Regulation or Directive 2003/71/EC upon the offer to the public or admission to trading of the securities giving access to the shares, or where the securities giving access to the shares were issued before the entry into force of this Regulation, this Regulation shall not apply to the admission to trading on a regulated market of the resulting shares irrespective of their proportion in relation to the number of shares of the same class already admitted to trading on the same regulated market.;
Amendment 331 #
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
Amendment 365 #
Proposal for a regulation
Article 7 – paragraph 1 a (new)
Article 7 – paragraph 1 a (new)
1a. Where the prospectus relates to the admission to trading on a regulated market of non-equity securities that are solely offered to qualified investors, there shall be no requirement to provide a summary.
Amendment 372 #
Proposal for a regulation
Article 7 – paragraph 3 – point b a (new)
Article 7 – paragraph 3 – point b a (new)
(ba) The competent authority may grant a derogation to allow the issuer to provide a summary longer than six sides of A4-sized paper required in this paragraph in cases where the complexity of the issuer's activities or the nature of the issue or the nature of the securities offered requires a longer summary.
Amendment 399 #
Proposal for a regulation
Article 7 – paragraph 6 – point c
Article 7 – paragraph 6 – point c
(c) under a sub-section titled 'What are the key risks that are specific to the issuer?' a brief description of no more than five of the most material risk factors specific to the issuer contained in the category of highest materiality according to Article 16.
Amendment 422 #
Proposal for a regulation
Article 7 – paragraph 7 – subparagraph 1 – point d
Article 7 – paragraph 7 – subparagraph 1 – point d
(d) under a sub-section titled 'What are the key risks that are specific to the securities?' a brief description of no more than five of the most material risk factors specific to the securities, contained in the category of highest materiality according to Article 16.
Amendment 428 #
Proposal for a regulation
Article 7 – paragraph 7 – subparagraph 1 a (new)
Article 7 – paragraph 7 – subparagraph 1 a (new)
The summary shall contain under the sub-sections titled 'What are the key risks that are specific to the issuer?' and 'What are the key risks that are specific to the securities?' a brief description of no more than 10 of the most material risk factors that are specific to the issuer or the securities.
Amendment 432 #
Proposal for a regulation
Article 7 – paragraph 10
Article 7 – paragraph 10
10. The summary shall notmay contain cross- references to other parts of the prospectus or incorporate information by reference.
Amendment 443 #
Proposal for a regulation
Article 8 – paragraph 7
Article 8 – paragraph 7
7. A summary shall only be drawn up when the final terms are approved or filed and such a summary shall be specific to the individual issue.
Amendment 457 #
Proposal for a regulation
Article 13 – paragraph 1 – subparagraph 2 – point b
Article 13 – paragraph 1 – subparagraph 2 – point b
(b) the various types and characteristics of offers and admissions to trading on a regulated market of non-equity securities. In particular, the information required in a prospectus relating to non-equity securities on, or being admitted to, a regulated market shall be adapted appropriately when the offer of securities is addressed to qualified investors;
Amendment 496 #
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
1. TIn the context of securities transactions, the risk factors featured in a prospectus shall be limited to risks which are both material and specific to the issuer and/or the securities and are material for taking an informed investment decision, as corroborated by the content of the registration document and the securities note. They shallose risks may be allocated across a maximum of three distinct categories which shall differentiate them by their relative materiality based on the issuer's assessment of the probability of their occurrence and the expected magnitude of their negative impactcording to the type of risk.
Amendment 516 #
Proposal for a regulation
Article 19 – paragraph 5 – subparagraph 1 a (new)
Article 19 – paragraph 5 – subparagraph 1 a (new)
A frequent issuer shall submit an application to the competent authority containing the necessary amendments to the universal registration document, where applicable, the securities note and the summary submitted for approval. A frequent issuer shall not be required to obtain approval for non-material amendments to the universal registration document. Where a prospectus has already been approved by the competent authority and a supplement is subsequently required to the universal registration document, a frequent issuer shall not be required to obtain approval from the competent authority for that supplement prior to the publication.
Amendment 523 #
Proposal for a regulation
Article 19 – paragraph 11
Article 19 – paragraph 11
11. ESMA shall use its powers under Regulation (EU) No 1095/2010 to promote supervisory convergence with regard to the scrutiny and approval processes of competent authorities when assessing the completeness, consistency and comprehensibility of the information contained in a prospectus. To that effect, ESMA shall deliver guidance on vetting principles for competent authorities across the Union. In particular, ESMA shall foster convergence regarding the efficiency, methods and timing of the scrutiny by the competent authorities of the information given in a prospectus.
Amendment 533 #
Proposal for a regulation
Article 20 – paragraph 10
Article 20 – paragraph 10
10. A papern electronic copy of the prospectus shall be deliverprovided to any natural or legal person, upon request and free of charge, by the issuer, the offeror, the person asking for admission to trading or the financial intermediaries placing or selling the securities. DeliveryProvision shall be limited to jurisdictions in which the offer to the public is made or where the admission to trading is taking place under this Regulation.
Amendment 554 #
Proposal for a regulation
Article 23 – paragraph 1 a (new)
Article 23 – paragraph 1 a (new)
1a. Where a prospectus is submitted for approval in one or more Member States and it contains a universal registration document which has already been approved in another Member State, the competent authority considering the application for approval of the prospectus shall not re-review the universal registration document and shall accept its prior approval.
Amendment 576 #
Proposal for a regulation
Article 26 – paragraph 2
Article 26 – paragraph 2
Amendment 581 #
Proposal for a regulation
Article 26 – paragraph 3
Article 26 – paragraph 3
Amendment 603 #
Proposal for a regulation
Article 30 – paragraph 1 – subparagraph 1 – point d
Article 30 – paragraph 1 – subparagraph 1 – point d
(d) to suspend an offer to the public or admission to trading for a maximum of 10 consecutive working days on any single occasion where there are reasonable grounds for suspecting that the provisions of this Regulation have been infringed;