BETA

13 Amendments of Andreas SCHWAB related to 2015/0268(COD)

Amendment 36 #
Proposal for a regulation
Recital 47
(47) Favourable treatments granted to issuances of non-equity securities with a denomination per unit in excess of EUR 100 000 may distort the structure of debt markets, create impediments to proper diversification of portfolios and to the development of electronic trading platforms, thus undermining liquidity on the secondary market, and may reduce investment choice for retail investors by depriving them of the opportunity to acquire investment-grade corporate bonds. It is therefore appropriate to remove the prospectus exemption for offers of non-equity securities whose denomination per unit amounts to at least EUR 100 000 and the lower standard of disclosure granted to prospectuses concerning such non-equity securities, featured originally in Directive 2003/71/EC. In particular, it is appropriate to unify the minimum information requirements for non-equity prospectuses, thereby replacing the dual standard of disclosure between issuances targeting qualified investors only and issuances targeting non-qualified investors.deleted
2016/04/27
Committee: IMCO
Amendment 44 #
Proposal for a regulation
Article 1 – paragraph 3 – point c a (new)
(ca) an offer of securities whose denomination per unit amounts to at least EUR 100 000;
2016/04/27
Committee: IMCO
Amendment 62 #
Proposal for a regulation
Article 7 – paragraph 1 a (new)
1a. By way of derogation from the first subparagraph, where the prospectus relates to the admission to trading on a regulated market of non-equity securities having a denomination of at least EUR 100 000, there shall be no requirement to provide a summary.
2016/04/27
Committee: IMCO
Amendment 65 #
Proposal for a regulation
Article 7 – paragraph 3 – introductory part
3. The summary shall be drawn up as a short document written in a concise manner and of a maximum of six sides of A4-sized paper when printed. It shall:
2016/04/27
Committee: IMCO
Amendment 69 #
Proposal for a regulation
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.
2016/04/27
Committee: IMCO
Amendment 71 #
Proposal for a regulation
Article 7 – paragraph 7 – 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.
2016/04/27
Committee: IMCO
Amendment 85 #
Proposal for a regulation
Article 16 – paragraph 1
1. The risk factors featured in a prospectus shall be limited to risks which are 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 shall 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 impact.
2016/04/27
Committee: IMCO
Amendment 270 #
Proposal for a regulation
Article 1 – paragraph 3 – point b a (new)
(ba) Offers of securities whose denomination per unit amounts at least EUR 100 000;
2016/04/21
Committee: ECON
Amendment 359 #
Proposal for a regulation
Article 7 – paragraph 1
1. The prospectus shall include a summary providing the key information that investors need in order to understand the nature and the risks of the issuer, the guarantor and the securities that are being offered or admitted to trading on a regulated market, and that, when shall be read together with the other parts of the prospectus, to aids investors when considering whether to invest in such securities.
2016/04/21
Committee: ECON
Amendment 370 #
Proposal for a regulation
Article 7 – paragraph 3 – introductory part
3. The summary shall be drawn up as a short document written in a concise manner and of a maximum of six sides of A4-sized paper when printed. It shall:
2016/04/21
Committee: ECON
Amendment 405 #
Proposal for a regulation
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.
2016/04/21
Committee: ECON
Amendment 423 #
Proposal for a regulation
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.
2016/04/21
Committee: ECON
Amendment 431 #
Proposal for a regulation
Article 7 – paragraph 10
10. The summary shall notmay contain cross- references to other parts of the prospectus orand incorporate information by reference.
2016/04/21
Committee: ECON