[ParlTrack]

Plenary speeches (1)

2016/11/22
Dossiers: 2010/0199(COD)

Amendments (3)

Proposal for a directive – amending act
Article 1 – point 2 – point a

Directive 97/9/EC
Article 2 – paragraph 1 – subparagraph 1

1. Each Member State shall ensure that within its territory one or more investor- compensation schemes are introduced and officially recognized. Except in the circumstances envisaged in the second subparagraph and in Article 5(3), no investment firm authorized in that Member State ~~or UCITS authorized in that Member State may carry on investment business or carry on activities as a UCITS~~may carry on investment business, unless it belongs to such a scheme.

2011/03/02
Committee: ECON

Jean-Paul GAUZÈS

Proposal for a directive – amending act
Article 1 – point 2 – point c

Directive 97/9/EC
Article 2 – paragraph 2b

2b. A scheme shall also provide coverage for UCITS unit holders in accordance with Article 4 where either of the following conditions is met first: (a) the competent authority has determined that a depositary or a third party to whom the assets of the UCITS are entrusted is unable to meet its obligations to a UCITS, for the time being, for reasons directly related to the financial circumstances of the depositary or the third party and has no early prospect of being able to do so; (b) a judicial authority has made a ruling, for reasons directly related to the financial circumstances of the depositary or any third party to whom assets of the UCITS are entrusted, which has the effect of suspending the UCITS' ability to make claims against the depositary or the third party. Member States shall ensure that the competent authorities make the determination referred to in point (a) of the first subparagraph as soon as possible and in any event within 3 months, after first becoming aware that a depositary or a third party to whom the assets of the UCITS are entrusted has failed to meet its obligations arising out of the UCITS' claims.deleted

2011/03/02
Committee: ECON

Jean-Paul GAUZÈS

Proposal for a directive – amending act
Article 1 – point 2 – point c

Directive 97/9/EC
Article 2 – paragraph 2c

2c. The coverage referred to in paragraph 2b shall be provided in accordance with the legal and contractual conditions applicable for a claim by a UCITS unit holder for the loss of value of the UCITS unit due to the inability of a depositary or a third party to whom the assets of the UCITS have been entrusted, to perform either of the following: (a) repay money owed to or belonging to the UCITS and held on its behalf in connection with UCITS activities, (b) return to the UCITS any instruments belonging to it and held or administered on its behalf in connection with UCITS activities.deleted

2011/03/02
Committee: ECON

Activities of Jean-Paul GAUZÈS related to 2010/0199(COD)

Plenary speeches (1)

Amendments (3)

ParlTrack - 2011-2024