BETA

Activities of Antolín SÁNCHEZ PRESEDO

Plenary speeches (178)

Credit requirements directives: Directives 2006/48/EC and 2006/49/EC - Community programme for financial services, financial reporting and auditing
2016/11/22
Dossiers: 2008/0191(COD)
Conclusions of the G20 Summit (debate)
2016/11/22
Dossiers: 2009/2558(RSP)
Credit Rating Agencies - Reporting and documentation requirements in the case of merger and divisions - Insurance and reinsurance (Solvency II) (recast) (debate)
2016/11/22
Dossiers: 2007/0143(COD)
Conclusions of the European Council (19-20 March 2009) (debate)
2016/11/22
White Paper on damages actions for breach of the EC antitrust rules (debate)
2016/11/22
Dossiers: 2008/2154(INI)
Future of the car industry (debate)
2016/11/22
Dossiers: 2009/2560(RSP)
Statute for a European private company - Cross-borders transfers of companies' registered offices - Small Business Act - Workers' participation in companies with a European Statute (debate)
2016/11/22
Dossiers: 2008/2196(INL)
Reduced rates of value added tax (debate)
2016/11/22
Dossiers: 2008/0143(CNS)
Deposit-guarantee schemes as regards the coverage level and the payout delay (debate)
2016/11/22
Dossiers: 2008/0199(COD)
EMU10: The first 10 years of Economic and Monetary Union and future challenges (debate)
2016/11/22
Dossiers: 2008/2156(INI)
Lamfalussy follow up - Future Structure of Supervision (debate)
2016/11/22
Dossiers: 2008/2148(INL)
VAT on insurance and financial services (debate)
2016/11/22
Dossiers: 2007/0267(CNS)
Hedge funds and private equity - Transparency of institutional investors (debate)
2016/11/22
Dossiers: 2007/2239(INL)
Coordinated strategy to improve the fight against fiscal fraud (debate)
2016/11/22
Dossiers: 2008/2033(INI)
Sovereign Wealth Funds (debate)
2016/11/22
Competition: Sector inquiry on retail banking - Retail Financial Services in the Single Market (debate)
2016/11/22
Dossiers: 2007/2201(INI)
EMU@10 – The first ten years of Economic and Monetary Union (Commission communication) (debate)
2016/11/22
Transatlantic Economic Council (debate)
2016/11/22
Dossiers: 2008/2527(RSP)
Trade and Economic Relations with the countries of South East Asia (ASEAN) (debate)
2016/11/22
Dossiers: 2007/2265(INI)
International Financial Reporting Standards and the governance of the International Accounting Standards Board (debate)
2016/11/22
Dossiers: 2006/2248(INI)
Follow-up after the review of the "Lamfalussy Process" (debate)
2016/11/22
Lisbon Strategy - Broad Economic Policy Guidelines for 2008-2010 (debate)
2016/11/22
Dossiers: 2007/2275(INI)
European Grouping of Territorial Cooperation (debate)
2016/11/22
CARS 21: A Competitive Automotive Regulatory Framework (debate)
2016/11/22
Dossiers: 2007/2120(INI)
Deposit-guarantee schemes (debate)
2016/11/22
Dossiers: 2007/2199(INI)
Review of the consumer acquis (debate)
2016/11/22
Dossiers: 2007/2010(INI)
Financial instability and the impact on the real economy (debate)
2016/11/22
Financial services policy (2005-2010) – White Paper (debate)
2016/11/22
Dossiers: 2006/2270(INI)
Improving the method for consulting Parliament in procedures relating to enlargement of the euro area – Adoption by Cyprus of the single currency on 1 January 2008 – Adoption by Malta of the single currency on 1 January 2008 (debate)
2016/11/22
Dossiers: 2007/0092(CNS)
Excise duty on alcohol (debate)
2016/11/22
Dossiers: 2006/0165(CNS)
Order of business
2016/11/22
Damages actions for breach of competition rules (debate)
2016/11/22
Dossiers: 2006/2207(INI)
Prudential assessment of acquisitions and increase of shareholdings (debate)
2016/11/22
Dossiers: 2006/0166(COD)
EIB Annual Report 2005 (debate)
2016/11/22
Dossiers: 2006/2269(INI)
Law applicable to non-contractual obligations ("ROME II") (debate)
2016/11/22
Dossiers: 2003/0168(COD)
Hague Convention on securities (debate)
2016/11/22
The European Union's Generalised System of Preferences (debate)
2016/11/22
Dossiers: 2006/2653(RSP)
European Central Bank Annual Report (2005) (debate)
2016/11/22
Dossiers: 2006/2206(INI)
EU economic and trade relations with Mercosur (debate)
2016/11/22
Dossiers: 2006/2035(INI)
One-minute speeches on matters of political importance
2016/11/22
Forest fires and floods (debate)
2016/11/22
One-minute speeches on matters of political importance
2016/11/22
Consolidation in financial services Mergers and acquisitions (M[amp]A) developments around Europe's stock exchanges (debate)
2016/11/22
Dossiers: 2006/2081(INI)
Public finances in the EMU (debate)
2016/11/22
Dossiers: 2005/2166(INI)
One-minute speeches on matters of political importance
2016/11/22
State aid for innovation (debate)
2016/11/22
Dossiers: 2006/2044(INI)
Competition policy 2004 (debate)
2016/11/22
Dossiers: 2005/2209(INI)
Mergers in the Internal Market (debate)
2016/11/22
One-minute speeches on matters of political importance
2016/11/22
State aid reform (debate)
2016/11/22
Dossiers: 2005/2165(INI)
Corporate tax
2016/11/22
Philippines (the sentencing to death of Francisco Larrañaga, an EU citizen)
2016/11/22
Oil
2016/11/22
VAT: Simplifying obligations/VAT: One-stop scheme
2016/11/22
Rules of origin in preferential trade arrangements
2016/11/22
2004 Annual Report – ECB; Communication strategy on the euro
2016/11/22
Doha Development Agenda
2016/11/22
Film heritage and related industrial activities
2016/11/22
Scheme of generalised tariff preferences
2016/11/22
Scheme of generalised tariff preferences
2016/11/22
ECB 2003 annual report
2016/11/22
Securities settlement and central securities depositories (A7-0039/2013 - Kay Swinburne)
2016/11/22
Fishing opportunities and financial contribution provided for in the EU-Seychelles Fisheries Partnership Agreement (A7-0201/2014 - Maria do Céu Patrão Neves)
2016/11/22
European Maritime and Fisheries Fund (A7-0282/2013 - Alain Cadec)
2016/11/22
Infringements of competition law (debate)
2016/11/22
Dossiers: 2013/0185(COD)
Framework for the recovery and resolution of credit institutions and investment firms - Deposit guarantee schemes (debate)
2016/11/22
Dossiers: 2012/0150(COD)
2012 discharge: European Banking Authority (A7-0220/2014 - Petri Sarvamaa)
2016/11/22
Northeast Atlantic mackerel fishery - Conservation of sea-bass (debate)
2016/11/22
European fishing sector and the EU-Thailand free trade agreement (A7-0130/2014 - Gabriel Mato Adrover)
2016/11/22
Role and operations of the Troika with regard to the euro area programme countries - Employment and social aspects of the role and operations of the Troika (debate)
2016/11/22
Dossiers: 2014/2007(INI)
European System of Financial Supervision review (short presentation)
2016/11/22
European System of Financial Supervision review (short presentation)
2016/11/22
Insurance mediation (debate)
2016/11/22
Dossiers: 2012/0175(COD)
Uniform rules and procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Bank Resolution Fund: outcome of the negotiations (debate)
2016/11/22
Dossiers: 2013/0253(COD)
Resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Bank Resolution Fund (A7-0478/2013 - Elisa Ferreira) (vote)
2016/11/22
Dossiers: 2013/0253(COD)
EU-Gabon protocol setting out fishing opportunities and the financial contribution provided for in the Fisheries Partnership Agreement (A7-0049/2014 - João Ferreira)
2016/11/22
Resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Bank Resolution Fund (debate)
2016/11/22
Dossiers: 2013/0253(COD)
Compliance with the rules of the Common Fisheries Policy (debate)
2016/11/22
Dossiers: 2013/0007(COD)
Agreement between the European Union and the Swiss Confederation concerning cooperation on the application of their competition laws - EU cooperation agreements on competition policy enforcement – the way forward (debate)
2016/11/22
Dossiers: 2012/0127(NLE)
Credit agreements relating to residential property (A7-0202/2012 - Antolín Sánchez Presedo)
2016/11/22
Annual report on EU competition policy (debate)
2016/11/22
Dossiers: 2013/2075(INI)
Common Fisheries Policy - Common organisation of the markets in fishery and aquaculture products (debate)
2016/11/22
Dossiers: 2011/0195(COD)
North-East Atlantic: deep-sea stocks and fishing in international waters - Status of the North-East Atlantic mackerel fishery (debate)
2016/11/22
Dossiers: 2012/0179(COD)
EU-Morocco Fisheries Partnership Agreement: protocol setting out fishing opportunities and financial contributions (debate)
2016/11/22
Dossiers: 2013/0315(NLE)
EC-Kiribati fisheries partnership agreement (A7-0345/2013 - Isabella Lövin)
2016/11/22
One-minute speeches (Rule 150)
2016/11/22
European Maritime and Fisheries Fund (A7-0282/2013 - Alain Cadec)
2016/11/22
European Semester for economic policy coordination (A7-0322/2013 - Elisa Ferreira)
2016/11/22
Europski fond za pomorstvo i ribarstvo (A7-0282/2013 - Alain Cadec) HR
2016/11/22
Europski semestar za usklađivanje ekonomske politike (A7-0322/2013 - Elisa Ferreira) HR
2016/11/22
Interinstitutional Agreement between the European Parliament and the ECB on cooperation on procedures related to the Single Supervisory Mechanism (A7-0302/2013 - Carlo Casini)
2016/11/22
EU-Mauritania fishing opportunities and financial contribution protocol (A7-0184/2013 - Gabriel Mato Adrover)
2016/11/22
EU-Mauritania fishing opportunities and financial contribution protocol (debate)
2016/11/22
Dossiers: 2012/0258(NLE)
EU-Mauritania fishing opportunities and financial contribution protocol (debate)
2016/11/22
Dossiers: 2012/0258(NLE)
Credit agreements relating to residential property (debate)
2016/11/22
Dossiers: 2011/0062(COD)
Credit agreements relating to residential property (debate)
2016/11/22
Dossiers: 2011/0062(COD)
Credit agreements relating to residential property (A7-0202/2012 - Antolín Sánchez Presedo) (vote)
2016/11/22
Dossiers: 2011/0062(COD)
Laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (A7-0125/2013 - Sven Giegold)
2016/11/22
Reforming the structure of the EU banking sector (debate)
2016/11/22
Dossiers: 2006/0084(COD)
One-minute speeches (Rule 150)
2016/11/22
Electronic toll service and vignette system on light private vehicles (A7-0142/2013 - Jim Higgins)
2016/11/22
Annual report on competition policy (debate)
2016/11/22
Dossiers: 2012/2306(INI)
Annual report on competition policy (debate)
2016/11/22
Dossiers: 2012/2306(INI)
Future legislative proposals on EMU (debate)
2016/11/22
Fight against tax fraud, tax evasion and tax havens (A7-0162/2013 - Mojca Kleva Kekuš)
2016/11/22
Specific tasks for the European Central Bank concerning policies relating to the prudential supervision of credit institutions - European Banking Authority and prudential supervision of credit institutions (debate)
2016/11/22
Completing the scoreboard for the Macroeconomic Imbalance Procedure (debate)
2016/11/22
Credit institutions and prudential supervision - Prudential requirements for credit institutions and investment firms (debate)
2016/11/22
Dossiers: 2011/0203(COD)
Fishing opportunities and financial contribution provided for by the EU-Mauritius Fisheries Partnership Agreement (A7-0127/2013 - Antolín Sánchez Presedo)
2016/11/22
Unsustainable mackerel fishing in the North East Atlantic (debate)
2016/11/22
System of national and regional accounts (debate)
2016/11/22
Dossiers: 2010/0374(COD)
Common fisheries policy (debate)
2016/11/22
Dossiers: 2011/0195(COD)
European Semester for economic policy coordination: annual growth survey 2013 - European Semester for economic policy coordination: employment and social aspects in the annual growth survey 2013 - Governance of the single market (debate)
2016/11/22
Dossiers: 2012/2260(INL)
Credit rating agencies - Undertakings of collective investment in transferable securities (UCITS) and alternative investment funds managers (debate)
2016/11/22
Dossiers: 2011/0360(COD)
Credit rating agencies - Undertakings of collective investment in transferable securities (UCITS) and alternative investment funds managers (debate)
2016/11/22
Dossiers: 2011/0360(COD)
Feasibility of introducing stability bonds (debate)
2016/11/22
Dossiers: 2012/2028(INI)
State aid modernisation (debate)
2016/11/22
Enhanced cooperation on the financial transaction tax (debate)
2016/11/22
Dossiers: 2012/0298(APP)
Explanations of vote
2016/11/22
Dossiers: 2011/0153(COD)
European Semester for economic policy coordination: implementation of 2012 priorities (debate)
2016/11/22
Dossiers: 2012/2150(INI)
Explanations of vote
2016/11/22
Dossiers: 2011/0434(COD)
Proposals for a European banking union (EBU) (debate)
2016/11/22
One-minute speeches (Rule 150)
2016/11/22
Threat posed by chartering to flag state responsibilities under the CITES Convention (debate)
2016/11/22
Access to basic banking services (debate)
2016/11/22
Dossiers: 2012/2055(INL)
Economic and budgetary surveillance of Member States with serious difficulties with respect to their financial stability in the euro area - Monitoring and assessing draft budgetary plans and ensuring the correction of excessive deficit of the Member States in the euro area (debate)
2016/11/22
Dossiers: 2011/0385(COD)
Common system for taxing financial transactions (debate)
2016/11/22
Dossiers: 2011/0261(CNS)
Explanations of vote
2016/11/22
Dossiers: 2009/2212(INL)
Common consolidated corporate tax base (debate)
2016/11/22
Dossiers: 2011/0058(CNS)
Common consolidated corporate tax base (debate)
2016/11/22
Dossiers: 2011/0058(CNS)
Explanations of vote
2016/11/22
Dossiers: 2011/0212(COD)
Explanations of vote
2016/11/22
Dossiers: 2010/0362(COD)
Multi-annual plan for western stock of Atlantic horse mackerel - TAC and quotas regulation for 2012 - Contribution of the common fisheries policy to the production of public goods (debate)
2016/11/22
Dossiers: 2011/2899(RSP)
Explanations of vote
2016/11/22
Dossiers: 2011/2087(INI)
EU competition policy (debate)
2016/11/22
Dossiers: 2011/2094(INI)
EU-Morocco fisheries partnership agreement - Future protocol setting out the fishing opportunities and financial compensation provided for in the Fisheries Partnership Agreement between the European Union and the Kingdom of Morocco (debate)
2016/11/22
Dossiers: 2011/0139(NLE)
European semester for economic policy coordination (debate)
2016/11/22
Dossiers: 2011/2071(INI)
Explanations of vote
2016/11/22
Dossiers: 2010/0257(COD)
Explanations of vote
2016/11/22
Dossiers: 2010/0251(COD)
Insurance guarantee schemes (short presentation)
2016/11/22
Dossiers: 2011/2010(INI)
Economic crisis and the euro (debate)
2016/11/22
Financial, economic and social crisis: measures and initiatives to be taken (debate)
2016/11/22
Dossiers: 2010/2242(INI)
Explanations of vote
2016/11/22
Dossiers: 2010/0251(COD)
Prevention and correction of macroeconomic imbalances - Implementation of excessive deficit procedure - Requirements for budgetary frameworks of Member States - Budgetary surveillance in euro area - Surveillance of budgetary positions and surveillance and coordination of economic policies - Enforcement measures to correct excessive macroeconomic imbalances in euro area (continuation of debate)
2016/11/22
Dossiers: 2010/0306(NLE)
Explanations of vote
2016/11/22
Dossiers: 2010/2302(INI)
Explanations of vote
2016/11/22
Dossiers: 2010/2302(INI)
Stress tests of the EU banking sector (debate)
2016/11/22
Stress tests of the EU banking sector (debate)
2016/11/22
European fisheries sector crisis due to rise in oil prices (debate)
2016/11/22
EIB annual report for 2009 (debate)
2016/11/22
Dossiers: 2010/2248(INI)
Conclusions of the European Council meeting (24-25 March 2011) (debate)
2016/11/22
EC-Comoros fisheries agreement - Community financial measures for the implementation of the common fisheries policy and in the area of the Law of the Sea - Fisheries - transitional technical measures - Imports from Greenland of fishery products (debate)
2016/11/22
Dossiers: 2010/0080(COD)
Consumer rights (debate)
2016/11/22
Dossiers: 2008/0196(COD)
Explanations of vote
2016/11/22
Dossiers: 2010/2095(INI)
EU-Mauritania Fisheries Partnership Agreement (debate)
2016/11/22
One-minute speeches (Rule 150)
2016/11/22
Report on competition policy 2009 (debate)
2016/11/22
Dossiers: 2010/2137(INI)
Establishing a permanent crisis mechanism to safeguard the financial stability of the euro area (vote)
2016/11/22
Dossiers: 2010/2987(RSP)
Economic governance and Article 9 of the Treaty of Lisbon (debate)
2016/11/22
Control by Member States of the Commission’s exercise of implementing powers (debate)
2016/11/22
Competition horizontal cooperation rules (debate)
2016/11/22
Long-term plan for the anchovy stock in the Bay of Biscay and the fisheries exploiting that stock - Multiannual plan for the western stock of Atlantic horse mackerel and the fisheries exploiting that stock - Prohibition of highgrading and restrictions on fishing for flounder and turbot in the Baltic Sea, the Belts and the Sound - Use of alien and locally absent species in aquaculture (debate)
2016/11/22
Dossiers: 2009/0153(COD)
Commission fines in antitrust cases (debate)
2016/11/22
Financial supervision package (debate)
2016/11/22
Conclusions of the special ECOFIN Council meeting of 7 September (debate)
2016/11/22
Powers of the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority (A7-0163/2010, Antolín Sánchez Presedo) (vote)
2016/11/22
Dossiers: 2009/0161(COD)
Powers of the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority (A7-0163/2010, Antolín Sánchez Presedo) (vote)
2016/11/22
Dossiers: 2009/0161(COD)
Specific tasks for the European Central Bank concerning the functioning of the European Systemic Risk Board - Powers of the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority - European Securities and Markets Authority - Macro-prudential oversight of the financial system and establishment of a European Systemic Risk Board - European Banking Authority - European Insurance and Occupational Pensions Authority - Cross-Border Crisis Management in the Banking Sector (debate)
2016/11/22
Dossiers: 2009/0161(COD)
Specific tasks for the European Central Bank concerning the functioning of the European Systemic Risk Board - Powers of the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority - European Securities and Markets Authority - Macro-prudential oversight of the financial system and establishment of a European Systemic Risk Board - European Banking Authority - European Insurance and Occupational Pensions Authority - Cross-Border Crisis Management in the Banking Sector (debate)
2016/11/22
Dossiers: 2009/0161(COD)
A catch documentation programme for bluefin tuna (thunnus thynnus) (debate)
2016/11/22
Dossiers: 2009/0116(COD)
Credit rating agencies (debate)
2016/11/22
ECB annual report for 2008 - Report on the 2009 Annual Statement on the Euro Area and Public Finances (debate)
2016/11/22
Dossiers: 2009/2090(INI)
The effects of the global financial and economic crisis on developing countries and on development cooperation (short presentation)
2016/11/22
Dossiers: 2009/2150(INI)
Report on Competition Policy 2008 (short presentation)
2016/11/22
Dossiers: 2009/2173(INI)
Green Paper on reform of the common fisheries policy (debate)
2016/11/22
Dossiers: 2009/2106(INI)
Difficult monetary, economic and social situation of Eurozone countries (debate)
2016/11/22
Key objectives for the Conference of the Parties to the CITES (debate)
2016/11/22
Crisis in the dairy farming sector (debate)
2016/11/22
Dossiers: 2009/2663(RSP)

Reports (6)

REPORT Report on the Green Paper on Damages actions for breach of the EC antitrust rules PDF (193 KB) DOC (149 KB)
2016/11/22
Committee: ECON
Dossiers: 2006/2207(INI)
Documents: PDF(193 KB) DOC(149 KB)
REPORT on the proposal for a Council regulation applying a scheme of generalised tariff preferences PDF (314 KB) DOC (224 KB)
2016/11/22
Committee: INTA
Dossiers: 2004/0242(CNS)
Documents: PDF(314 KB) DOC(224 KB)
REPORT on the Annual Report on EU Competition Policy PDF (275 KB) DOC (189 KB)
2016/11/22
Committee: ECON
Dossiers: 2012/2306(INI)
Documents: PDF(275 KB) DOC(189 KB)
RECOMMENDATION on the draft Council decision on the conclusion of the Fisheries Partnership Agreement and of the Protocol setting out the fishing opportunities and the financial contribution provided for by the Agreement PDF (166 KB) DOC (98 KB)
2016/11/22
Committee: PECH
Dossiers: 2012/0215(NLE)
Documents: PDF(166 KB) DOC(98 KB)
REPORT on the proposal for a directive of the European Parliament and of the Council on credit agreements relating to residential property PDF (1 MB) DOC (1 MB)
2016/11/22
Committee: ECON
Dossiers: 2011/0062(COD)
Documents: PDF(1 MB) DOC(1 MB)
REPORT Report on the proposal for a directive of the European Parliament and of the Council Amending directives 1998/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC, 2005/60/EC, 2006/48/EC, 2006/49/EC, and 2009/65/EC in respect of the powers of the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority PDF (1 MB) DOC (2 MB)
2016/11/22
Committee: ECON
Dossiers: 2009/0161(COD)
Documents: PDF(1 MB) DOC(2 MB)

Shadow reports (7)

RECOMMENDATION on the draft Council decision on the conclusion, on behalf of the European Union, of the Protocol setting out the fishing opportunities and the financial contribution provided for by the Fisheries Partnership Agreement between the European Union and the Republic of Seychelles PDF (194 KB) DOC (101 KB)
2016/11/22
Committee: PECH
Dossiers: 2013/0375(NLE)
Documents: PDF(194 KB) DOC(101 KB)
REPORT with recommendations to the Commission on the European System of Financial Supervision (ESFS) Review PDF (231 KB) DOC (110 KB)
2016/11/22
Committee: ECON
Dossiers: 2013/2166(INL)
Documents: PDF(231 KB) DOC(110 KB)
REPORT on the proposal for a directive of the European Parliament and of the Council on the insurance mediation (recast) PDF (832 KB) DOC (632 KB)
2016/11/22
Committee: ECON
Dossiers: 2012/0175(COD)
Documents: PDF(832 KB) DOC(632 KB)
REPORT on the proposal for a directive of the European Parliament and of the Council on certain rules governing actions for damages under national law for infringements of the competition law provisions of the Member States and of the European Union PDF (572 KB) DOC (424 KB)
2016/11/22
Committee: ECON
Dossiers: 2013/0185(COD)
Documents: PDF(572 KB) DOC(424 KB)
REPORT on the Annual Report on EU Competition Policy PDF (255 KB) DOC (131 KB)
2016/11/22
Committee: ECON
Dossiers: 2013/2075(INI)
Documents: PDF(255 KB) DOC(131 KB)
RECOMMENDATION on the proposal for a Council decision on the conclusion of the Protocol setting out fishing opportunities and the financial contribution provided for in the Fisheries Partnership Agreement between the European Union and the Islamic Republic of Mauritania for a period of two years PDF (213 KB) DOC (120 KB)
2016/11/22
Committee: PECH
Dossiers: 2012/0258(NLE)
Documents: PDF(213 KB) DOC(120 KB)
REPORT on the proposal for a regulation of the European Parliament and of the Council on improving securities settlement in the European Union and on central securities depositories (CSDs) and amending Directive 98/26/EC PDF (681 KB) DOC (494 KB)
2016/11/22
Committee: ECON
Dossiers: 2012/0029(COD)
Documents: PDF(681 KB) DOC(494 KB)

Opinions (7)

OPINION on the effective enforcement of judgements in the European Union: the transparency of debtors' assets
2016/11/22
Committee: ECON
Documents: PDF(93 KB) DOC(68 KB)
OPINION Communication from the Commission to the European Parliament and Council: A Competitive Automotive Regulatory Framework for the 21st Century - Commission's position on the CARS 21 High Level Group Final Report - A contribution to the EU's Growth and Jobs Strategy
2016/11/22
Committee: ECON
Documents: PDF(105 KB) DOC(59 KB)
OPINION on discharge in respect of the implementation of the budget of the European Banking Authority for the financial year 2012
2016/11/22
Committee: ECON
Documents: PDF(131 KB) DOC(174 KB)
OPINION on discharge in respect of the implementation of the budget of the European Insurance and Occupational Pensions Authority for the financial year 2012
2016/11/22
Committee: ECON
Documents: PDF(130 KB) DOC(171 KB)
OPINION on discharge in respect of the implementation of the budget of the European Securities and Markets Authority for the financial year 2012
2016/11/22
Committee: ECON
Documents: PDF(132 KB) DOC(172 KB)
OPINION on follow-up on the Delegation of Legislative Powers and the Control by Member States of the Commission’s Exercise of Implementing Powers
2016/11/22
Committee: PECH
Documents: PDF(102 KB) DOC(337 KB)
OPINION Proposal for a regulation of the European Parliament and of the Council laying down the rules and general principles concerning mechanisms for control by Member States of the Commission’s exercise of implementing powers
2016/11/22
Committee: ECON
Documents: PDF(168 KB) DOC(371 KB)

Shadow opinions (4)

OPINION on the proposal for a regulation of the European Parliament and of the Council adapting to Article 290 and 291 of the Treaty on the Functioning of the European Union a number of legal acts providing for the use of the regulatory procedure with scrutiny
2016/11/22
Committee: ECON
Dossiers: 2013/0365(COD)
Documents: PDF(149 KB) DOC(361 KB)
OPINION on follow-up on the delegation of legislative powers and the control by Member States of the Commission’s exercise of implementing powers
2016/11/22
Committee: ECON
Dossiers: 2012/2323(INI)
Documents: PDF(116 KB) DOC(184 KB)
OPINION Proposal for a regulation of the European Parliament and of the Council on a Common European Sales Law
2016/11/22
Committee: ECON
Dossiers: 2011/0284(COD)
Documents: PDF(195 KB) DOC(348 KB)
OPINION on the EU 2011 Report on Policy Coherence for Development
2016/11/22
Committee: PECH
Dossiers: 2012/2063(INI)
Documents: PDF(106 KB) DOC(86 KB)

Written declarations (1)

Amendments (2185)

Amendment 52 #

2013/2166(INI)

Motion for a resolution
Recital L a (new)
La. whereas after the entrance into force of the SSM it is particularly important to avoid supervisory arbitrage, guarantee a level-playing and ensure the good functioning of the internal market without distortions while preserving fundamental freedoms;
2014/01/15
Committee: ECON
Amendment 70 #

2013/2166(INI)

Motion for a resolution
Recital P a (new)
Pa. whereas peer pressure has not worked as envisaged during the original design of the ESAs and is necessary to enable the ESAs to stimulate its development;
2014/01/15
Committee: ECON
Amendment 72 #

2013/2166(INI)

Motion for a resolution
Recital P b (new)
Pb. whereas it has been proven difficult for national representatives to separate their role of head of a national competent authority and European decision-making challenging their ability to genuinely adhere to the requirement to act independently and objectively in the sole interest of the Union as a whole in accordance with Article 42;
2014/01/15
Committee: ECON
Amendment 73 #

2013/2166(INI)

Motion for a resolution
Recital Q
Q. whereas in course of the establishment of the SSM some progress was made in giving the European Banking Authority (EBA) necessary powers to collect directly information but such capacity needs yet to be enhanced and given to the other Authorities;
2014/01/15
Committee: ECON
Amendment 81 #

2013/2166(INI)

Motion for a resolution
Recital S
S. whereas the voting rights in the Boards of Supervisors of the ESAs are not proportionate to the size of the relevant Member Statessystem of all the ESAs should be coherent; whereas the original voting system was essential to ensure the equal treatment of Member States and allow for the smooth for the working of the ESAs; whereas the original voting system of the EBA was amended as a consequence of the SSM and should be reintroduced;
2014/01/15
Committee: ECON
Amendment 100 #

2013/2166(INI)

Motion for a resolution
Recital V
V. whereas some requirements that the ESAs imposed on all market participants were considered to be onerous, inappropriate and not proportional to theneed to better take into account the different size and business model of the addressees;
2014/01/15
Committee: ECON
Amendment 109 #

2013/2166(INI)

Motion for a resolution
Recital Y a (new)
Ya. whereas a weak corporate governance and system of disclosure are in the roots of the current crisis; whereas the new Basel supervisory principles include two new principles on corporate governance and transparency and disclosure; whereas correcting this is necessary to ensure the sustainability of financial markets and the responsibility of the different market participants and authorities;
2014/01/15
Committee: ECON
Amendment 144 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 1 – indent 2
– Give the ESAs the possibility to trigger binding and non-binding mediation on their own initiative of the management board;
2014/01/15
Committee: ECON
Amendment 164 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 1 – indent 5 a (new)
– Deal with problems which might result between the different mandates on oversight and monetary policy arising from the ESRB being established within the ECB; while ensuring that macro- supervision contributes to the economic governance of the EU, growth and employment as well as to the wider objectives of the Union;
2014/01/15
Committee: ECON
Amendment 165 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 1 – indent 5 b (new)
– Consider the possibility of simplifying and better coordinate existing European Economic Governance structures by establishing a role of High Representative for Economic Affairs by merging the positions of the ESRB chair, the Economic Vice President of the Commission and the Chair of the ECOFIN;
2014/01/15
Committee: ECON
Amendment 166 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 1 – indent 5 c (new)
– Better enhancing the ESRB recommendations within the general European economic Governance, for example by including the content in the European Semester namely through Country Specific Recommendations and the Recommendations to the Union as a whole and making mandatory reporting on the compliance with such obligations.
2014/01/15
Committee: ECON
Amendment 175 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 1 a (new)
– introducing a general clause to ensure European consistent supervision, what implies appropriate supervisory judgement, by avoiding that the ESAs competences depend on the individual sectorial legislation brought under the remit of their regulation;
2014/01/15
Committee: ECON
Amendment 181 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 2
– enhancing the powers of the chairpersons of all three ESAs to take urgent, technical and operational decisions or to request information from other supervisory authorities without requiring consent by the respective Boards of Supervisors and authorise the delegation to the Chair of Responsibilities and tasks of the Board other than adopting regulation;
2014/01/15
Committee: ECON
Amendment 182 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 2
– enhancing the powers of the chairpersons of all three ESAs to take technical and operational decisions or to request information from other supervisory authorities without requiring consent by the respective Boards of Supervisors and authorise the delegation to the Chair of further competences of the Board;
2014/01/15
Committee: ECON
Amendment 190 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 2 a (new)
– enhancing the ESA’s operational and organisational roles by chairing ESA internal standing committees and working groups and participating as full members of these;
2014/01/15
Committee: ECON
Amendment 194 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 3
– amending Article 45 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010 and transforming the Management Boards of the three ESAs into independent bodies, staffed by three professionals with a European mandate and wider responsibilities, appointed by the European Parliament, the chairperson of the ESAs and the executive directors and granting the Chairperson and the executive members of the Management Board the right to vote on the Board of Supervisors;
2014/01/15
Committee: ECON
Amendment 197 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 3 a (new)
– enhancing EBAs and giving ESMA and EIOPA the responsibility to develop and update the supervisory handbook on the supervision of financial institutions for the Union as a whole for the purpose of building European consistent supervision a common supervisory culture;
2014/01/15
Committee: ECON
Amendment 198 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 3 b (new)
– enhancing the capacity of the ESAs to have direct access to information from financial institutions and services providers, and being able to appoint third parties to review the information in accordance with the EBA’s methodologies;
2014/01/15
Committee: ECON
Amendment 214 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 6 a (new)
– enhancing the ESAs’ existing data collecting powers ensuring a smooth flow of individual company data from the competent authorities, making redundant the need to justify the need for the data on a case-by-case basis;
2014/01/15
Committee: ECON
Amendment 220 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 7
– enhancing the investigatory powers of the ESAs and increasing their resources in order to control the appropriate implementation of legal acts for example by ‘mystery shopping’; rules derived from legal acts and the compliance with other decisions adopted under the EU legal framework;
2014/01/15
Committee: ECON
Amendment 227 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 8
– withdrawing the right to vote on questions concerning consumer protection for members of the Board of Supervisors which do not have a mandate for consumer protection in their Member State;deleted
2014/01/15
Committee: ECON
Amendment 232 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 8 a (new)
– enabling Member States where more than an authority is responsible for the supervision to bring a representative without vote from the relevant authority where the competent authority is not responsible for the item discussed at the Board of Supervisors;
2014/01/15
Committee: ECON
Amendment 238 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 9
– enabling the ESRB to explore and to propo, propose and where appropriate set additional measures for macroeconomic stability such as leverage and loan-to-value ratios, counter cyclical buffers and accounting standards promoting financial stability;
2014/01/15
Committee: ECON
Amendment 258 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 11 a (new)
– establishing a stakeholder group with the ESRB, composed of a broad scope of sectors of the economy and the society, in particular small and medium sized enterprises, trade unions, and providers and consumers of financial services;
2014/01/15
Committee: ECON
Amendment 259 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 11 b (new)
– providing the Advisory Scientific Committee of the ESRB with more resources to enable its members to devote more time to giving their valuable intellectual input to the ESRB;
2014/01/15
Committee: ECON
Amendment 260 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 11 c (new)
– strengthening the ESA’s supervisory role by establishing regular assessments of the competent authorities on their supervisory practices by means of onsite visits leading to dialogue on – if appropriate – concrete recommendations;
2014/01/15
Committee: ECON
Amendment 261 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 11 d (new)
– enhancing the ESA’s independent challenging role vis-à-vis the competent authorities by broadening the role in general support of an independent assessment of supervisory practices;
2014/01/15
Committee: ECON
Amendment 264 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 12
– enhancing the ESAs' investigatory powers including but not only with regard to possible breaches of Union law;
2014/01/15
Committee: ECON
Amendment 270 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 13 a (new)
– giving the ESAs a clear mandate in the field of corporate governance, transparency and disclosure in order to increase market discipline, allow all stakeholders to understand and compare the risk profile and practices and to promote public confidence. The European supervisory responsibilities must include the setting of benchmarks, the existence of appropriate incentives in the financial institutions and the creation of a complete scoreboard comprising a comparable set of social indicators as well as indicators on the impact of activities on the real economy (as regards, for example, SMEs, removable energy and R+D+i), among other aspects;
2014/01/15
Committee: ECON
Amendment 274 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 14 a (new)
– rebalancing the composition of the stakeholder groups at the ESA’s in favour of the consumers and non-industry stakeholders;
2014/01/15
Committee: ECON
Amendment 289 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 20
– ensuring that the Consumer TESAs, jointly within the joint committee, elaborate an structurend Report produced by EIOPA comprises at least four pagespolicy and strategy, listing their priorities and defining their respective roles and its articulation with the NCAs, and issue annually a joint and horizontal report on consumer protection.
2014/01/15
Committee: ECON
Amendment 290 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 20 a (new)
– promoting codification to ensure cross- sector and cross-legislation consistency, in particular as regards consumer protection rules, in order to help avoiding conflicting legislation and to increase the coherence of the single rule-book in particular as regards a code of consumer protection;
2014/01/15
Committee: ECON
Amendment 291 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 20 b (new)
– contributing to consisting EU cooperation with international organisation and third countries counterparts by reinforcing the representation of the EU within international organisations and ensuring a relevant participation of the ESAs in the negotiation of mutual recognition agreements with EU wide effects;
2014/01/15
Committee: ECON
Amendment 312 #

2013/2166(INI)

Motion for a resolution
Annex – paragraph 3 – indent 2
– whether the ESAs should receive more power in direct supervision over systemic institutions such as central counterparties and large cross-border insurance undertakings, central security depositories, cross-border index providers and large cross-border insurance undertakings and large financial conglomerates, infrastructures and institutions operating in markets not covered by the SSM;
2014/01/15
Committee: ECON
Amendment 2 #

2013/2104(INI)

Draft opinion
Paragraph 2
2. Regrets that the Commission has not yet publishedNotes the importance of the GBER in the whole SAM process as a block exemption from the notification requirement for certain categories of aid can seriously reduce the administrative burden for Member States and allows the Commission to concentrate its resources on the most distortive cases and to better prioritise its enforcement activities; believes therefore that the draft new GBER so that the RAG can be analysed together with the GBERand its set of common principles should have been published by the Commission before any specific guidelines; regrets that Article 109 TFEU – the Treaty basis for the enabling regulation and, indirectly, the GBER – provides only for consultation of Parliament, not codecision; believes that this democratic deficit cannot be tolerated; proposes that this deficit be overcome as soon as possible, through interinstitutional arrangements in the field of competition policy, and corrected in the next Treaty change;
2013/05/28
Committee: ECON
Amendment 9 #

2013/2104(INI)

Draft opinion
Paragraph 3
3. Underlines the fact that the primary role of State aid control is to ensure a level playing field in the internal market; fully supports the SAM overall aim of tailoring State aid rules to the need to promote economic growth in the EU; notes that it is particularly relevant to promote economic growth in the most disadvantaged regions of the EU, keeping distortive effects within the internal market to a minimum;
2013/05/28
Committee: ECON
Amendment 29 #

2013/2104(INI)

Draft opinion
Paragraph 5 e (new)
5e. Expresses doubts also about the ineligibility for regional aid of "firms in difficulties within the meaning of the Community guidelines on State aid for rescuing and restructuring firms in difficulty" (paragraph 11 of the draft guidelines), noting that this is not only inconsistent with helping firms affected by the economic crisis in assisted regions but also impossible to implement, given that those guidelines explicitly contain no precise definition of firms in difficulty;
2013/05/28
Committee: ECON
Amendment 30 #

2013/2104(INI)

Draft opinion
Paragraph 5 f (new)
5f. Is convinced that it is essential that some margin of flexibility for the revision of the guidelines is kept, as mentioned in draft paragraph 177, in order to allow for any future required adjustments, since these guidelines are designed to cover a period of 7 years;
2013/05/28
Committee: ECON
Amendment 10 #

2013/2075(INI)

Motion for a resolution
Paragraph 1
1. Welcomes the Commission report and its focus on the contribution of competition policy to fight barriering collusive agreements and abuses of dominant positions as well as to controlling monopolies and irregular State aid for the benefit of the single market;
2013/09/13
Committee: ECON
Amendment 17 #

2013/2075(INI)

Motion for a resolution
Paragraph 2
2. Agrees that too many sectors are still largely divided by national borders and public and private sector artificial barriers, and that competition policy has a fundamental role to play against such fragmentation of the single marketin implementing fundamental freedoms and avoiding fragmentation of the single market, with a special focus on SMEs and creating value for end consumers sustainably;
2013/09/13
Committee: ECON
Amendment 23 #

2013/2075(INI)

Motion for a resolution
Paragraph 3
3. Welcomes the EU unitary patent as a step forward to complete the single market and calls on the Member States to participate in itto respond to the challenges of globalisation, calls for steps to be taken to ensure that all the Member States can participate in it; considers it necessary to reconcile intellectual property rights with the demands of competition, protecting the general interest and ensuring that patent holders do not abuse their rights to the detriment of the public; calls on the Commission to prosecute conduct aimed at unduly delaying the entry onto the market of generic medicines;
2013/09/13
Committee: ECON
Amendment 27 #

2013/2075(INI)

Motion for a resolution
Paragraph 3 a (new)
3a. Points out that competition policy and the smooth functioning of the single market are essential to confronting the crisis, encouraging growth and sustainable employment under the Europe 2020 Strategy and helping to achieve the goals of the European Union;
2013/09/13
Committee: ECON
Amendment 40 #

2013/2075(INI)

Motion for a resolution
Paragraph 4
4. Considers that ithe European Parliament should have co-decision powers in competition policy; regrets that Articles 103 and 109 TFEU provide only for consultation of Parliament, points out that the competition policy is one of the fields in which the Commission is politically responsible towards the European Parliament, and that Parliament can exercise oversight over the framing of competition policy and democratic scrutiny over the use by the Commission of the powers conferred on it under primary law; takes a positive view, in particular, of the structured dialogue that the Commission pursues with the Committee on Economic and Monetary Affairs of the European Parliament;
2013/09/13
Committee: ECON
Amendment 44 #

2013/2075(INI)

Motion for a resolution
Paragraph 4 a (new)
4a. Stresses the need to instil a competition culture which promotes its own values and helps nurture a positive approach to compliance with a preventive and beneficial effect for the development of competition policy;
2013/09/13
Committee: ECON
Amendment 49 #

2013/2075(INI)

Motion for a resolution
Paragraph 5
5. Stresses that imposing fines is a dissuasive, responsive and measured tool which plays an important tool forrole in competition policy and that quick action is needed for the success of investigations; believes that legal certainty is, the simplification of procedures and the possibility of early termination by means of suitable agreements to be crucial, and calls on the Commission to incorporate the rules on fines into a legislative instrument;
2013/09/13
Committee: ECON
Amendment 53 #

2013/2075(INI)

Motion for a resolution
Paragraph 5 a (new)
5a. Welcomes the presentation of the Commission’s first legislative proposal on the filing of private actions for losses resulting from EU competition policy; considers this initiative to be a major step towards establishing a private-sector pillar under competition policy which is in keeping with the successful leniency programmes and preserves the key role of public prosecution in EU competition policy;
2013/09/13
Committee: ECON
Amendment 57 #

2013/2075(INI)

Motion for a resolution
Paragraph 5 b (new)
5b. Points out that the cross-cutting facet of EU competition policy calls for complete consistency between that policy and Community policies in other fields, and that to ensure the smooth functioning of the internal market, sector-specific regulations need to comply with the principles of competition policy;
2013/09/13
Committee: ECON
Amendment 59 #

2013/2075(INI)

Motion for a resolution
Paragraph 5 c (new)
5c. Takes a positive view of the role played by judicial bodies in competition policy, and urges them to use their powers to obtain information and opinion from the Commission and to participate in Community training activities; recommends that the Commission cooperate closely with the judicial authorities, actively exercise its remit to make contributions to judicial bodies as an ‘amicus curiae’, which should be published in a timely manner on the Commission’s web site, and consider the possibility of taking legal action to avoid the EU being left without protection and to safeguard the interests it should protect;
2013/09/13
Committee: ECON
Amendment 61 #

2013/2075(INI)

Motion for a resolution
Paragraph 5 d (new)
5d. Maintains that the EU should actively promote the substantive and procedural convergence of competition rules in the international sphere; considers international cooperation to be essential to ensuring consistency and interoperability in the implementation of competition policy by the various competent authorities, with this helping to increase the effectiveness of research and create a level playing field;
2013/09/13
Committee: ECON
Amendment 67 #

2013/2075(INI)

Motion for a resolution
Paragraph 6
6. Considers that resources for the Commission’s Directorate General for Competition should be increased to enable a more proactive to be taken and made adequate to its increased workload and range of tasks;
2013/09/13
Committee: ECON
Amendment 72 #

2013/2075(INI)

Motion for a resolution
Paragraph 7
7. Calls on the Member States to ensure the independence of all national competition authorities (NCAs) and sector regulators from national governments, principally by providing formaking the nomination of non- political chairpersons and board members with no conflicts of interest – such as links to lobby groups – essential; calls on the Member States to ensure that the staff and resources of NCAs and sector regulators are sufficient and vary according to market need-derived needs and those of the effective performance of their duties;
2013/09/13
Committee: ECON
Amendment 77 #

2013/2075(INI)

Motion for a resolution
Paragraph 8 a (new)
8a. Emphasises the need for cooperation between authorities to be stepped up within the European Competition Network and for its on-going plans and programmes and the conclusions of its meetings to be published on the Commission website.
2013/09/13
Committee: ECON
Amendment 82 #

2013/2075(INI)

Motion for a resolution
Paragraph 8 b (new)
8b. Calls on the Commission to regularly provide detailed country- and organisation-specific statistics on the State aid granted to the financial sector since the onset of the crisis, on consolidated losses and on developments in the repayments made, and to publish the results on the Commission website in order to ensure total transparency on the scale of public intervention since the beginning of the crisis and its impact on taxpayers;
2013/09/13
Committee: ECON
Amendment 84 #

2013/2075(INI)

Motion for a resolution
Paragraph 9
9. Believes that State aid control during the crisis should focus both on stabilising the banking system and on tackling unfair segmentation ofcreating the conditions for a viable, transparent and competitive banking system that provides financing to the credit conditions and discrimination of SMEal economy and, hence, on ending credit discrimination against SMEs and households in the single market;
2013/09/13
Committee: ECON
Amendment 96 #

2013/2075(INI)

Motion for a resolution
Paragraph 12
12. Stresses that banks receiving State aid should not increase their exposure to public debt, especially if they are reducingmust ensure the credit flow to SMEs and households at the same timin a solvent state;
2013/09/13
Committee: ECON
Amendment 99 #

2013/2075(INI)

Motion for a resolution
Paragraph 13
13. Underlines that depositors with less thanup to EUR 100 000 euro in their bank accounts should be afforded the maximum protection and be excluded from any burden- sharing arrangement resulting from a bank restructuring or resolution;
2013/09/13
Committee: ECON
Amendment 101 #

2013/2075(INI)

Motion for a resolution
Paragraph 14
14. Urges the Commission to make sure that banks, before they receive anying State aid, sell disinvest in otheir stakes in other companiescompanies in an orderly manner, thereby reducing the burden for the taxpayer;
2013/09/13
Committee: ECON
Amendment 102 #

2013/2075(INI)

Motion for a resolution
Paragraph 15
15. Believes that accounting methods should be harmonised before anyreliable assessment is made of the amount of State aid to be given to banks calls for a harmonisation of accounting methods, such that the accounting treatment of loans refinanced for the second time, for example, is the same regardless of the Member State concerned;
2013/09/13
Committee: ECON
Amendment 104 #

2013/2075(INI)

Motion for a resolution
Paragraph 16
16. Stresses that external investors should be encouraged to participate as much as possible in asset management companies (AMCs) created under State aid programmes as a means of separating impaired assets, to ensure that there is no conflict of interests between domestic investorinvestors holding or transferring assets and the objectives of any given AMC;
2013/09/13
Committee: ECON
Amendment 117 #

2013/2075(INI)

Motion for a resolution
Paragraph 17
17. Calls on the Commission to open upapply competition policy in those Member States that have port and airport public networks, particularly if their management is monopolised by the central government orand to check that their funding complies with the rules on State aid, particularly if they persistently generate public deficits;
2013/09/13
Committee: ECON
Amendment 128 #

2013/2075(INI)

Motion for a resolution
Paragraph 19
19. Calls on the Commission to adopt a legislative proposal for a European Regulator that would act whereo cooperate with national regulators do not exist or are inactiveand complement their work;
2013/09/13
Committee: ECON
Amendment 129 #

2013/2075(INI)

Motion for a resolution
Paragraph 20
20. Stresses that the single market in the rail freight sector is affected by incorrect or incomplete transposition of EU law by Member States and by bottlenecks to cross- border mobility that harm competition and growth; cCalls on the Commission to verify whether technical or market barriers that differ from one Member States to another, such as track gauges,put in place by operators with special entitlements in the field of energy supply and, signalling systems, or any other specialist area concerning interoperability restrict access to infrastructure and can be considered infringements of competition rules;
2013/09/13
Committee: ECON
Amendment 133 #

2013/2075(INI)

Motion for a resolution
Paragraph 21
21. Invites the Commission to provide a justified overview to ascertain which air carriers benefit from advantages over other service providhave in an anti-competitive manners through undue use of special conditions or alleged abuses of their dominant position in certain airports;
2013/09/13
Committee: ECON
Amendment 135 #

2013/2075(INI)

Motion for a resolution
Paragraph 22
22. Encourages the Commission to investigate whether certain practices with regard toing the imposidesignation of specific hub airports – based on the terms of the over 1000 bilateral air services agreements signed by Member States with non-EU countries – are detrimental to fair competition between carriers and airports, and areobjectively justified and do not prejudice competition against European consumers’ interests;
2013/09/13
Committee: ECON
Amendment 149 #

2013/2075(INI)

Motion for a resolution
Paragraph 24 a (new)
24a. Points to the need for compensatory measures aimed at preventing any possible rise in energy prices due to the new emissions trading scheme impacting on viability and triggering the relocation to third countries of energy-intensive industries (aluminium, copper, fertilisers, steel, paper, cotton, chemicals, ceramics, etc.), and calls on the Commission to enforce the rules on State aid in electricity markets and facilitate the conclusion of reasonable and non-discriminatory long-term agreements;
2013/09/13
Committee: ECON
Amendment 157 #

2013/2075(INI)

Motion for a resolution
Heading 7
New technologies and Internet
2013/09/13
Committee: ECON
Amendment 158 #

2013/2075(INI)

Motion for a resolution
Paragraph 24 b (new)
24a. Considers the contribution that competition policy has to make to the rolling-out of broadband services in the internal market to be of utmost importance in enabling a balance to be struck between public and private investment in order to meet the objectives of the Digital Agenda and ensure coverage in remote, rural and sparsely-populated areas of the EU;
2013/09/13
Committee: ECON
Amendment 159 #

2013/2075(INI)

Motion for a resolution
Paragraph 24 c (new)
24c. Urges the Commission to redouble its efforts in the telecommunications markets to help end their fragmentation and prevent abuses of dominant positions by operators with power in those markets; calls on it to ensure that the services provided by operators, and in particular internet access, are transparent, comparable and free of any contractual obstacles to competition;
2013/09/13
Committee: ECON
Amendment 160 #

2013/2075(INI)

Motion for a resolution
Paragraph 24 d (new)
24d. Stresses the overriding importance of ‘essential patents’ for innovation in the ICT sector and, in this respect, calls on the Commission to act swiftly to ensure that their holders grant fair, accessible and non-discriminatory licences to other operators to enable continued technical progress and the development of new products to the benefit of consumers; highlights the fact that competition policy should include tools to prevent the creation of artificial obstacles to interconnection, interoperability and the development of economies of scale in the markets;
2013/09/13
Committee: ECON
Amendment 175 #

2013/2075(INI)

Motion for a resolution
Heading 7 c (new)
The food chain
2013/09/13
Committee: ECON
Amendment 176 #

2013/2075(INI)

Motion for a resolution
Paragraph 26 a (new)
26a. Welcomes the creation of the Food Task Force within DG COMP with the aim of monitoring developments in competition in the food chain and its impact on consumers, as well as the launch of a study into the retail sector; considers that the establishing of a balanced system of relationships in the food sector must not be done to the detriment of competition policy or by way of a purely commercial approach which fails to reflect that policy’s basic principles;
2013/09/13
Committee: ECON
Amendment 177 #

2013/2075(INI)

Motion for a resolution
Subheading 9 b (new)
Sports
2013/09/13
Committee: ECON
Amendment 178 #

2013/2075(INI)

Motion for a resolution
Paragraph 26 b (new)
26b. Urges the Commission to address in a structured manner the relationships between professional sports and competition policy; it should investigate – particularly in the case of football – whether or not the following are detrimental to competition in the world of sport and liable to threaten the sustainability of sport within the single market: termination clauses, wage differences, imbalances in the allocation of broadcasting rights for competitions, non-payment of social charges and the meeting of tax obligations, conflicts of interest and the failure of directors of sports bodies to establish clear rules to address these issues and preserve the identity of European sport;
2013/09/13
Committee: ECON
Amendment 180 #

2013/2075(INI)

Motion for a resolution
Paragraph 27
27. Instructs its President to forward this resolution to the Council, the Commission and the Ccommissionpetition authorities of the Member States.
2013/09/13
Committee: ECON
Amendment 179 #

2013/2021(INI)

Motion for a resolution
Paragraph 6
6. Considers that the core principle of banking reform must be to deliver a safe, stable and efficient banking system that serves the needs of the real economy, customers and consumers; takes the view that structural reform must stimulate economic growth by supporting the provision of sustainable credit to the economy, in particular to SMEs and start- ups, provide greater resilience against potential financial crises, restore trust and confidence in banks and remove risks to public finances;
2013/04/18
Committee: ECON
Amendment 201 #

2013/2021(INI)

Motion for a resolution
Paragraph 7
7. Considers that an effective banking system must deliver a change in banking culture in order to reduce complexity, enhance competition, limit interconnectedness between risky and commercial activities, improve corporate governance, create a responsible remuneration system, allow effective bank resolution and recovery, reinforce bank capital and deliver sustainable credit to the real economy;
2013/04/18
Committee: ECON
Amendment 251 #

2013/2021(INI)

Motion for a resolution
Paragraph 9
9. Urges the Commission to come forward with a proposal for such mandatory separation through the establishment of a thorough, transparent, complete and credible ‘ring fence’ aroundmeasures insulating and protecting bank activities that are vital for the real economy, such as those relating to credit functions, payment systems and deposits; takes the view that in the event of a bank failure, the ring fencemeasures must ensure that the retail entity continues independent business unaffected by operational problems, financial losses, funding shortages or reputational damage resulting from the resolution or insolvency of the investment entity;
2013/04/18
Committee: ECON
Amendment 272 #

2013/2021(INI)

Motion for a resolution
Paragraph 10
10. Urges the Commission to ensure that trading activities do not benefit from implicit guarantees, the use of insuredretail deposits or taxpayer bailouts and that these activities do not pose a risk to the delivery of ring-fencsulated and protected retail services;
2013/04/18
Committee: ECON
Amendment 317 #

2013/2021(INI)

Motion for a resolution
Paragraph 12 – point b
(b) limits on the extent to which the two entities are reliant on each other for funding and/or resources; in particular, there should be no legal basis for shifting capital and liquidity from ring-fencedetail entities to other non retail entities in the group;
2013/04/18
Committee: ECON
Amendment 327 #

2013/2021(INI)

Motion for a resolution
Paragraph 12 – point d
(d) net and gross large exposure limits for intra-group transactions between ring- fenced and non-ring-fencedsulated and protected activities and the rest of activities, which are at least as strict as those for third-party exposure, including strict limits on the exposure of ring-fencedthe former activities to the investment entity's riskier activities;
2013/04/18
Committee: ECON
Amendment 345 #

2013/2021(INI)

Motion for a resolution
Paragraph 13
13. Urges the Commission to take into account the ECB's proposal in order to establish clear, complete and enforceable criteria for separation8 ;
2013/04/18
Committee: ECON
Amendment 371 #

2013/2021(INI)

Motion for a resolution
Paragraph 15
15. Urges the Commission to ensure that the retail entity has sufficient capital and liquid assets to enable it, in the event of the bank's failure, to maintain depositors' access to funds, to protect the essential services of the ring-fencedseparated retail arm from the risk of disorderly failure and to prioritise paying out depositors in a timely fashion;
2013/04/18
Committee: ECON
Amendment 422 #

2013/2021(INI)

Motion for a resolution
Paragraph 22
22. Urges the Commission to continue the reform of banks' compensation and remuneration culture by prioritising long- term incentives for variable remuneration with larger deferral periods up to retirement as well as to promote transparency including at least explanations and assessments on internal remuneration spreads, relevant changes and comparative sectorial deviations;
2013/04/18
Committee: ECON
Amendment 430 #

2013/2021(INI)

Motion for a resolution
Paragraph 23
23. Urges the Commission to ensure that remuneration systems prioritise the use of instruments such as shares and bonds subject to bail- in, and shares, rather than cash;
2013/04/18
Committee: ECON
Amendment 435 #

2013/2021(INI)

Motion for a resolution
Paragraph 24
24. Urges the Commission to ensure that compensation and remuneration systems at all levels of a bank reflect its overall performance and are focused on quality customer service, social-economic and environmental impact and long-term financial stability rather than short-term profits;
2013/04/18
Committee: ECON
Amendment 446 #

2013/2021(INI)

Motion for a resolution
Paragraph 26
26. Urges the Commission to make provision for nationalcompetent supervisors to have the power to implement full and legal separation of banks;
2013/04/18
Committee: ECON
Amendment 455 #

2013/2021(INI)

Motion for a resolution
Paragraph 28
28. Stresses that effective competition is necessary in order to ensure a well- functioning and efficient banking sector which funds the real economy by ensuring universal access to banking services and reducing the cost of banking services;
2013/04/18
Committee: ECON
Amendment 476 #

2013/2021(INI)

Motion for a resolution
Paragraph 31
31. Asks the Commission to bring forward measures to facilitate consumer switching between banks, limit excessive market power in card services and assist in improving consumer choice in the banking sector by banning tied practices, reducing the barriers to entry and exit and applying proportionate rules to new entrants to the market;
2013/04/18
Committee: ECON
Amendment 101 #

2013/0185(COD)

Proposal for a directive
Article 2 – paragraph 1
1. Anyone who has suffered harm caused by an infringement of Union or national competition law shall be able to claim and obtain full compensation for that harm.
2013/11/08
Committee: ECON
Amendment 102 #

2013/0185(COD)

Proposal for a directive
Article 2 – paragraph 2
2. Full compensation shall place anyone who has suffered harm in the position in which that person would have been had the infringement not been committed. It shall therefore include compensation for actual loss and, for loss of profit, and payment offor interest from the time the harm occurred until the compensation in respect of that harm has actually been paisatisfied.
2013/11/08
Committee: ECON
Amendment 107 #

2013/0185(COD)

Proposal for a directive
Article 2 – paragraph 3
3. Member States shall ensure that injured parties, directly or through their representatives can effectively exercise their claims for damages, promote injunctive measures and settle them through consensual dispute resolution.
2013/11/08
Committee: ECON
Amendment 116 #

2013/0185(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 3
3. 'action for damages' means an action under national law by which an injured party brings a claim for damages before a national court; it may also covers actions by which someone actings on behalf of one or more injured parties bringsing a claim for damages before a national court, where national law provides for this possibility;
2013/11/08
Committee: ECON
Amendment 117 #

2013/0185(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 3 a (new)
3a. 'Mass harm situation' means a situation where two or more natural or legal persons claim to have suffered harm causing damages resulting from the same illegal competition activity of one or more natural or legal persons;
2013/11/08
Committee: ECON
Amendment 119 #

2013/0185(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 3 b (new)
3b. 'Minor and diffused damages situation' means a mass harm situation where the number of natural or legal persons that have suffered damages directly or indirectly is very extended and the individual amount of the damage discourages a relevant part of injured parties to promote individual claims;
2013/11/08
Committee: ECON
Amendment 120 #

2013/0185(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 3 c (new)
3c. 'Cross border cases' means a mass harm situation case where the harmful event that caused damages resulting from the same illegal competition activity occurred in more than one Member State;
2013/11/08
Committee: ECON
Amendment 121 #

2013/0185(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 3 d (new)
3d. 'European minor and diffused damages situation' means a situation of cross border minor and diffused damages upon which the Commission is acting under Chapter III of the Regulation 1/2003 "
2013/11/08
Committee: ECON
Amendment 122 #

2013/0185(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 4 a (new)
4a. 'Group action' means a claim brought jointly by two or more injured parties or their representatives designed according the law in a mass harm situation;
2013/11/08
Committee: ECON
Amendment 127 #

2013/0185(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 13
13. 'leniency programme' means a programme concerning the application of Article 101 of the Treaty or the corresponding provision under national law on the basis of which a participant in a secret cartel, independently of the other undertakings involved in the cartel, cooperates with an investigation of the competition authority, by voluntarily providing presentations of his knowledge of the cartel and his role therein, in return for which the participant receives immunity from any fine to be imposed for the cartel or a reduction of such fine;
2013/11/08
Committee: ECON
Amendment 129 #

2013/0185(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 14
14. 'leniency corporate statement' means an oral or, written or any other presentation voluntarily provided by, or on behalf of, an undertaking to a competition authority, describing the undertaking's knowledge of a secret cartel and its role therein, which was drawn up specifically for submission to the authority with a view to obtaining immunity or a reduction of fines under a leniency programme concerning the application of Article 101 of the Treaty or the corresponding provision under national law; this does not include documents or information that exist irrespective of the proceedings of a competition authority ('pre-existing information');
2013/11/08
Committee: ECON
Amendment 134 #

2013/0185(COD)

Proposal for a directive
Article 4 – paragraph 1 – point 17
17. 'consensual settlement' means an agreement whereby damages are paicompensated following a consensual dispute resolution.
2013/11/08
Committee: ECON
Amendment 136 #

2013/0185(COD)

Proposal for a directive
Article 4 a (new)
Article 4 a Chapter Ib - Cross Border Cases
2013/11/08
Committee: ECON
Amendment 137 #

2013/0185(COD)

Proposal for a directive
Article 4 b (new)
Article 4 b Single Forum Member States shall ensure that, where disputes concern natural or legal persons from several Member States in cross border cases, a single forum is not prevented by national rules on admissibility or standing of the foreign claimants or representatives originating from other national legal system.
2013/11/08
Committee: ECON
Amendment 138 #

2013/0185(COD)

Proposal for a directive
Article 4 c (new)
Article 4 c Recognition of national representatives 1. Member States shall ensure that in cross border cases any representative designated in advance according the law from other Member State to have standing to bring representative actions shall be permitted to seize the court in the Member State having jurisdiction to consider the mass harm situation.
2013/11/08
Committee: ECON
Amendment 139 #

2013/0185(COD)

Proposal for a directive
Article 4 d (new)
Article 4 d Chapter Ic - Group Actions
2013/11/08
Committee: ECON
Amendment 140 #

2013/0185(COD)

Proposal for a directive
Article 4 e (new)
Article 4 e Group Actions 1. Member States shall ensure that a representative designed according to the law may claim compensation on behalf of two or more injured parties. 2. Member States shall allow at least Group Actions brought forward in the name and on behalf of natural or legal persons who claim to be exposed to the risk of suffering harm or to have been harmed whereas those persons are not parties to the proceedings by: a) A representative designed by a collective of injured parties formed on the basis of the opt in principle; b) A public authority entitled to claim on behalf the injured parties in cases of minor and diffused damages. 3. Member States may also allow representative entities to bring group actions where the following requirements are met: a) the entity has a non-profit making character b) there is a direct relationship between the main objectives of the entity and the rights granted under Union law that are claimed to have been violated in respect of which the action is brought; and c) the entity has a sufficient capacity in terms of financial resources, human resources, and legal expertise, to represent multiple claimants acting in their best interest. 4. Member States shall ensure that national courts rule on group actions only after that a competition authority has found a violation of Union law. This does not prevent the possibility of injunctive actions or the consensual settlement of disagreements by the group representatives. 5. Member States must ensure that any claimant is free to leave the claimant party at any time before the final judgment is given or the case is otherwise, validly settled, subject to the same conditions that apply to withdrawal in individual actions, without be deprived of the possibility to pursue its claims in another form, it this does not undermine sound administration of justice. 6. Natural or legal persons claiming to have been harmed in the same mass harms situation shall be able to join the claimant party at any time before the judgment is given or the case is otherwise validly settled, if this does not undermine the sound administration of justice. 7. The compensation awarded to natural or legal persons harmed in a mass harm situation, shall not exceed the compensation that would have been awarded, if the claim had been pursued by means of individual actions. In particular, punitive damages or any other formula, leading to overcompensation in favour of the claimant party of the damage suffered, shall be prohibited. 8. Member States shall ensure that the lawyers' remuneration and the method by which it is calculated do not create any incentive to litigation that is unnecessary from the point of view of the interest of any of the parties. Member States shall, in principle, not permit contingency fees which risk creating such an incentive. Where Member States exceptionally allow for contingency fees, they shall provide for appropriate national regulation of those fees in collective redress cases taking into account in particular the right to full compensation of the members of the claimant party. 9. Member States shall establish a national registry of group actions. The national registry shall be available free of charge to any interested person through electronic means and otherwise. Websites publishing the registries shall provide access to comprehensive and objective information on the available methods of obtaining compensation, including out of court methods. The European Commission shall assist the Member States in their endeavour to ensure coherence of the information gathered in the registries and their interoperability.
2013/11/08
Committee: ECON
Amendment 141 #

2013/0185(COD)

Proposal for a directive
Article 4 f (new)
Article 4 f Public Representative Actions Member States shall ensure that at least one public authority is entitled to bring forward a group action behalf of natural or legal persons who claim to be exposed to the risk of suffering harm or to have been harmed in a minor and diffused damages situation.
2013/11/08
Committee: ECON
Amendment 142 #

2013/0185(COD)

Proposal for a directive
Article 4 g (new)
Article 4 g European Public Representative Action The Commission, at its own initiative or at the request of the Council, the European Parliament, the European Competition Network or the Member States affected, may command an European public representative, that may be designated on ad hoc basis, to bring in close cooperation with the concerned national authorities a group action before a single forum in cases of cross border mass harm and, particularly, of European minor and diffused damages situations. This should be without prejudice to and independently from its role in the public enforcement of Competition policy.
2013/11/08
Committee: ECON
Amendment 155 #

2013/0185(COD)

Proposal for a directive
Article 5 – paragraph 6
6. Member States shall ensure that, to the extent that their courts have powers to order disclosure without hearing the person from whom disclosure is sought, except in cases of justified urgency no penalty for non-compliance with such an order may be imposed until the addressee of such an order has been heard by the court.
2013/11/08
Committee: ECON
Amendment 166 #

2013/0185(COD)

Proposal for a directive
Article 6 – paragraph 1 – point b a (new)
(ba) However, where a claimant has presented reasonably available facts and evidence showing plausibly that certain data or information pertaining to any document of such categories which cannot be otherwise provided is indispensable for determining the damage and supporting its claim, national courts, where the pretension of the claimant is well founded prima facie, shall be able to: (a) access and analyse such document; (b) hear the interested parties in the possession of it; and (c) order the limited disclosure of the relevant data or parts of the document concerned which are strictly needed to provide the claimant with the level of information required for that purpose under appropriate conditions which protect the public interest and confidential information.
2013/11/08
Committee: ECON
Amendment 194 #

2013/0185(COD)

Proposal for a directive
Article 10 – paragraph 5
5. Member States shall ensure that the limitation period is suspended if a competition authority takes action for the purpose of the investigation or proceedings in respect of an infringement to which the action for damages relates. The suspension shall end at the earlielast one year after the infringement decision has become final or the proceedings are otherwise terminated.
2013/11/08
Committee: ECON
Amendment 195 #

2013/0185(COD)

Proposal for a directive
Article 11 – paragraph 1
1. Member States shall ensure that undertakings which have infringed competition law through joint behaviour are jointly and severally liable for the damage caused by the infringement: each of the infringing undertakings is bound to compensate for the harm in full, and the injured party may require full compensation from any of them until he has been fully compensated. Where the undertaking is a SME and has not led or induced the infringement by other undertaking of the competition law and has shown that its participation in the total damage caused is inferior to the 5%, it shall only be liable to its injured parties.
2013/11/08
Committee: ECON
Amendment 204 #

2013/0185(COD)

Proposal for a directive
Article 12 – paragraph 1
1. Member States shall ensure that the defendant in an action for damages can invoke as a defence against a claim for damages the fact that the claimant passed on the whole or part of the overcharge resulting from the infringement. The burden of proving that the overcharge was passed on shall rest with the defendant which shall not be required to pay twice for the same harm.
2013/11/08
Committee: ECON
Amendment 226 #

2013/0185(COD)

Proposal for a directive
Article 19 – paragraph 1
The Commission shall review this Directive and report to the European Parliament and the Council by [...] at the latest [to be calculated as 52 years after the date set as the deadline for transposition of this Directive.] Where appropriate the review shall be accompanied by a legislative proposal which might inter alia consider that early voluntary compensations and agreements to compensate damages caused to injuries parties before a decision on the existence of an infringement is adopted and timely communicated to the competition authority that follows a procedure according the Regulation (CE) 1/200 may constitute a mitigating circumstance in the imposition of public sanctions under competition law.
2013/11/08
Committee: ECON
Amendment 90 #

2013/0110(COD)

Proposal for a directive
Recital 16
(16) The obligation to disclose their diversity policies for their administrative, management and supervisory bodies with regard to aspects such as age, gender, geographical diversity, disability, educational and professional background should only apply to large listed companies. Therefore small and medium-sized companies that may be exempted from certain accounting obligations under aArticle 27 of Directive 78/660/EEC should not be covered to by this obligation. Disclosure of the diversity policy should be part of the corporate governance statement, as laid down by Article 46a of Directive 78/660/EEC. Companies not having a such a diversity policy should not be obliged to put one in place, but they should clearly explain why this is the case.
2013/11/11
Committee: ECON
Amendment 67 #

2013/0074(COD)

Proposal for a directive
Article 1 – paragraph 1
1. This Directive establishes a framework for maritime spatial planning and integrated coastal management aiming at promoting the sustainable socioeconomic and environmental growth of maritime and coastal economispaces and the sustainable use of marine and coastaltheir resources.
2013/09/11
Committee: PECH
Amendment 74 #

2013/0074(COD)

Proposal for a directive
Article 2 – paragraph 3
3. The provisions of this Directive shall be without prejudice to Member States’ competences for town and country planning and to the provisions of Directive 2000/60/EC of the European Parliament and of the Council of 23 October 2000 establishing a framework for Community action in the field of water policy.
2013/09/11
Committee: PECH
Amendment 76 #

2013/0074(COD)

Proposal for a directive
Article 3 – paragraph 1 – point 2 a (new)
2a. 'Maritime spatial plans' means the plan or plans resulting from a public process for analysing and planning the spatial and temporal distribution of human activities in sea areas, so as to achieve economic, environmental and social objectives with a view to identifying the utilisation of maritime space for different sea uses.
2013/09/11
Committee: PECH
Amendment 77 #

2013/0074(COD)

Proposal for a directive
Article 3 – paragraph 1 – point 2 b (new)
2b. 'Integrated coastal management strategies' means the formal and informal practices and/or strategies that aim at the integrated management of all policy processes affecting the coastal zone, addressing land-sea interactions of coastal activities in a coordinated way with a view to ensuring the sustainable development of coastal and marine areas; such strategies ensure that management or development decisions are taken coherently across sectors.
2013/09/11
Committee: PECH
Amendment 79 #

2013/0074(COD)

Proposal for a directive
Article 4 – paragraph 1
1. Each Member State, together with the competent authorities, interest groups and individuals concerned, shall establish and implement a maritime spatial plan or plans and an integrated coastal management strategy or strategies.; They may be prepared in separate documents.
2013/09/11
Committee: PECH
Amendment 84 #

2013/0074(COD)

Proposal for a directive
Article 4 – paragraph 3
3. When establishing maritime spatial plans and integrated coastal management strategies, Member States shall give due regard toincorporate the particularities of the regions and the sub-regions, the respective sector activities, the marine waters and coastal zones concerned and potential climate change impacts.
2013/09/11
Committee: PECH
Amendment 91 #

2013/0074(COD)

Proposal for a directive
Article 5 – paragraph 1 – introductory part
Maritime spatial plans and integrated coastal management strategies shall apply an ecosystem-based approach to promote sustainable socioeconomic and environmental development, facilitate the co-existence and prevent and resolve conflicts between competing sector activities in marine waters and coastal zones, and shall aim to contribute to:
2013/09/11
Committee: PECH
Amendment 97 #

2013/0074(COD)

Proposal for a directive
Article 5 – paragraph 1 – point b
(b) promoting the development of maritime transport and providing efficient and cost- effective shipping routes across Europe, including motorways of the sea, port accessibility and transport safety;
2013/09/11
Committee: PECH
Amendment 101 #

2013/0074(COD)

Proposal for a directive
Article 5 – paragraph 1 – point c
(c) fostering the sustainable development and growth of the fisheries and aquaculture sector, including employment in fisheries and connected sectors, especially in regions highly dependent on fisheries and aquaculture;
2013/09/11
Committee: PECH
Amendment 103 #

2013/0074(COD)

Proposal for a directive
Article 5 – paragraph 1 – point c a (new)
(ca) promoting the socioeconomic sustainability of maritime and coastal areas, protection of their historical and cultural heritage and the development of sustainable activities such as tourism, making it less seasonally dependent;
2013/09/11
Committee: PECH
Amendment 106 #

2013/0074(COD)

Proposal for a directive
Article 5 – paragraph 1 – point d
(d) ensuring the preservation, protection and improvement of the environment as well as the protection and prudent and rational use of natural resources, notably in order to achieve good environmental status, halt the loss of biodiversity and degradation of ecosystem services and reduce marine pollution risks;
2013/09/11
Committee: PECH
Amendment 110 #

2013/0074(COD)

Proposal for a directive
Article 6 – paragraph 2 – point a
(a) be mutually coordinated, provided they are not integrated, thereby ensuring the participation of interest groups and individuals in accordance with Article 9;
2013/09/11
Committee: PECH
Amendment 111 #

2013/0074(COD)

Proposal for a directive
Article 6 – paragraph 2 – point b
(b) ensure effective trans-boundary cooperation between Member States, and between national authoritiethe relevant authorities, including individuals and stakeholders of the relevant sector policies, in accordance with Article 12;
2013/09/11
Committee: PECH
Amendment 113 #

2013/0074(COD)

Proposal for a directive
Article 6 – paragraph 2 – point c
(c) identify the trans-boundary effects of maritime spatial plans and integrated coastal management strategies on the marine waters and coastal zones under the sovereignty or jurisdiction of third countries in the same marine region or sub- region and related coastal zones and deal with them in cooperation with the competent authorities of these countries in accordance with Articles 12 and 13;.
2013/09/11
Committee: PECH
Amendment 114 #

2013/0074(COD)

Proposal for a directive
Article 7 – title
Specific minimum requirements for maritime spatial plans and integrated coastal management strategies
2013/09/11
Committee: PECH
Amendment 116 #

2013/0074(COD)

Proposal for a directive
Article 7 – paragraph 1
1. MIn order to achieve the objectives as set out in Article 5, maritime spatial plans shall contain at least a mapping of marine waters which identifies the actual and potential spatial and temporal distribution of all relevant maritime activities in order to achieve the objectives as set out in Article 5., while integrated coastal management strategies shall contain at least, an inventory of existing measures applied in coastal zones and an analysis of the need for additional actions. The strategies shall provide for integrated and cross-sectoral policy implementation and take account of interactions between terrestrial and maritime activities.«
2013/09/11
Committee: PECH
Amendment 117 #

2013/0074(COD)

Proposal for a directive
Article 7 – paragraph 2 – introductory part
2. When establishing maritime spatial plans and integrated coastal management strategies, Member States shall take into consideration, at least, the following activities and applications:
2013/09/11
Committee: PECH
Amendment 119 #

2013/0074(COD)

Proposal for a directive
Article 7 – paragraph 2 – point -a (new)
(-a) residential areas and urban centres;
2013/09/11
Committee: PECH
Amendment 120 #

2013/0074(COD)

Proposal for a directive
Article 7 – paragraph 2 – point a
(a) installations and infrastructures for the extraction of energy and the production of renewable energy, oil, gas, minerals and other raw materials and the production of renewable energy, as well as energy installations, including green infrastructures;
2013/09/11
Committee: PECH
Amendment 121 #

2013/0074(COD)

Proposal for a directive
Article 7 – paragraph 2 – point b
b) oil and gas extraction sites and infrastructures;deleted
2013/09/11
Committee: PECH
Amendment 123 #

2013/0074(COD)

Proposal for a directive
Article 7 – paragraph 2 – point c
c) ports, maritime transport routes and other maritime transport infrastructures and works;
2013/09/11
Committee: PECH
Amendment 127 #

2013/0074(COD)

Proposal for a directive
Article 7 – paragraph 2 – point e
e) fishing, aquaculture, mollusc harvesting and sea farming areas;
2013/09/11
Committee: PECH
Amendment 128 #

2013/0074(COD)

Proposal for a directive
Article 7 – paragraph 2 – point f
(f) sea farming sites;deleted
2013/09/11
Committee: PECH
Amendment 129 #

2013/0074(COD)

Proposal for a directive
Article 7 – paragraph 2 – point g
(g) nature conservation sites. and conservation, restoration and management of coastal ecosystems, ecosystem services and wilflife, coastal landscapes and islands; recreational, tourist and heritage areas;
2013/09/11
Committee: PECH
Amendment 131 #

2013/0074(COD)

Proposal for a directive
Article 7 – paragraph 2 – point g a (new)
(ga) military zones;
2013/09/11
Committee: PECH
Amendment 132 #

2013/0074(COD)

Proposal for a directive
Article 7 – paragraph 2 – point g b (new)
(gb) mitigation and adaptation to climate change.
2013/09/11
Committee: PECH
Amendment 133 #

2013/0074(COD)

Proposal for a directive
Article 8
Article 8 Specific minimum requirements for integrated coastal management strategies 1. Integrated coastal management strategies shall contain at least, an inventory of existing measures applied in coastal zones and an analysis of the need for additional actions in order to achieve the objectives set out in Article 5. The strategies shall provide for integrated and cross-sectoral policy implementation and consider interactions between terrestrial and maritime activities. 2. When establishing integrated coastal management strategies, Member States shall take into consideration, at least, the following activities: (a) utilisation of specific natural resources including installations for the extraction of energy and the production of renewable energy; (b) development of infrastructure, energy facilities, transport, ports, maritime works and other structures including green infrastructure; (c) agriculture and industry; (d) fishing and aquaculture; (e) conservation, restoration and management of coastal ecosystems, ecosystem services and nature, coastal landscapes and islands; (f) mitigation and adaptation to climate change.deleted
2013/09/11
Committee: PECH
Amendment 141 #

2013/0074(COD)

Proposal for a directive
Article 9 – paragraph 1
1. Member States shall establish means for the public participation of all interested parties at an earl, including interest groups and the general public, at every stage in the development of maritime spatial plans and integrated coastal management strategies.
2013/09/11
Committee: PECH
Amendment 144 #

2013/0074(COD)

Proposal for a directive
Article 9 – paragraph 2
2. Public participation shall ensure that the relevant stakeholders and authorities and the public concerned are consulted oninterest groups and members of the public concerned are involved in the drafting and implementation of the draft plans and strategies and have access to the results once available.
2013/09/11
Committee: PECH
Amendment 145 #

2013/0074(COD)

Proposal for a directive
Article 9 – paragraph 3
3. When establishing means of public consultparticipation, Member States shall act in accordance with relevant provisions in other Union legislation.
2013/09/11
Committee: PECH
Amendment 147 #

2013/0074(COD)

Proposal for a directive
Article 10 – paragraph 1
1. Member States shall organise the collection of the best available data and the exchange of information necessary for maritime spatial plans and integrated coastal management strategies, with the assistance of the European Fisheries Control Agency and environmental or other agencies which may have relevent information.
2013/09/11
Committee: PECH
Amendment 149 #

2013/0074(COD)

Proposal for a directive
Article 12 – paragraph 2 – introductory part
2. Theis cooperation referred to in paragraph 1 shall be pursued through:shall be pursued through regional institutional cooperation structures covering the coastal zone or the marine region or sub-region concerned to which this function has been assigned by agreement with the Member States.
2013/09/11
Committee: PECH
Amendment 150 #

2013/0074(COD)

Proposal for a directive
Article 12 – paragraph 2 – point a
(a) regional institutional cooperation structures covering the coastal zone or the marine region or sub-region concerned, ordeleted
2013/09/11
Committee: PECH
Amendment 151 #

2013/0074(COD)

Proposal for a directive
Article 12 – paragraph 2 – point b
(b) a dedicated network of Member States’ competent authorities covering the marine region and/or sub-region concerned.deleted
2013/09/11
Committee: PECH
Amendment 3 #

2013/0000(INI)

Motion for a resolution
Citation 8
– having regard to the Council resolution of 1 December 1997 on a code of conduct for business taxation and to the Report of the Code of Conduct on Business Taxation Group to the Council of 4 December 2012,
2013/03/01
Committee: ECON
Amendment 5 #

2013/0000(INI)

Motion for a resolution
Citation 9 a (new)
– having Regard to the ECOFIN Conclusions and ECOFIN Report to the European Council on Tax issues of 22 June 2012,
2013/03/01
Committee: ECON
Amendment 7 #

2013/0000(INI)

Motion for a resolution
Citation 9 b (new)
– having regard to the Communiqué following the Meeting of Finance Ministers and Central Bank Governors of the G-20 which took place in Moscow on the 15 and 16 February 2013,
2013/03/01
Committee: ECON
Amendment 8 #

2013/0000(INI)

Motion for a resolution
Citation 9 c (new)
– having regard to its resolution of 10 February 2010 on Promoting Good Governance in tax matters,
2013/03/01
Committee: ECON
Amendment 19 #

2013/0000(INI)

Motion for a resolution
Recital B a (new)
Ba. whereas an important part of fiscal sustainability is securing our revenue basis;
2013/03/01
Committee: ECON
Amendment 23 #

2013/0000(INI)

Motion for a resolution
Recital C
C. whereas tax fraud and tax evasion constitute an illegal activity of evading tax liabilities, while, on the other hand, tax avoidance is the legal but improper utilisation of the tax regime to reduce or avoid tax liabilities; whereas in practice this has shifted the tax burden onto workers and low-income households and forced damaging cutbacks in public services;
2013/03/01
Committee: ECON
Amendment 34 #

2013/0000(INI)

Motion for a resolution
Recital D a (new)
Da. whereas in practice this has shifted the tax burden onto workers and low- income households and forced damaging cutbacks in public services;
2013/03/01
Committee: ECON
Amendment 36 #

2013/0000(INI)

Motion for a resolution
Recital D b (new)
Db. whereas aggressive tax planning can take multiple forms and consists in taking advantage of the technicalities of a tax system or of mismatches between two or more tax systems for the purpose of reducing tax liability;
2013/03/01
Committee: ECON
Amendment 37 #

2013/0000(INI)

Motion for a resolution
Recital D c (new)
Dc. whereas multinational companies to make use of such practices conflicts with the principle of fair competition and corporate responsibility;
2013/03/01
Committee: ECON
Amendment 38 #

2013/0000(INI)

Motion for a resolution
Recital D d (new)
Dd. whereas the response of some taxpayers to the steps taken by Member States to remedy the lack of transparency has been to route business or transactions through another jurisdiction with a lower level of transparency;
2013/03/01
Committee: ECON
Amendment 52 #

2013/0000(INI)

Motion for a resolution
Paragraph 1 a (new)
1a. Welcomes the determination expressed by the G20 Finance ministers to address base erosion and profit shifting;
2013/03/01
Committee: ECON
Amendment 56 #

2013/0000(INI)

Motion for a resolution
Paragraph 2 a (new)
2a. Deplores that the Member States haven't yet managed to reach an agreement on key legislative proposals such as the 2008 proposal to amend the Council Directive 2003/487EC on taxation of savings income in the form of interest payments or the 2011 Proposal for a Council Directive on a Common Consolidated Corporate Tax Base;
2013/03/01
Committee: ECON
Amendment 60 #

2013/0000(INI)

Motion for a resolution
Paragraph 2 b (new)
2b. Regrets the lack of substantial progress to the date in the area of taxation in the framework of the commitments of the Euro Plus Pact;
2013/03/01
Committee: ECON
Amendment 67 #

2013/0000(INI)

Motion for a resolution
Paragraph 4
4. Emphasises that the EU should lead the discussions and should assist non-EU countries in subscribing to the EU principles of transparency, automatic exchange of information and abolition of harmful tax measures;
2013/03/01
Committee: ECON
Amendment 88 #

2013/0000(INI)

Motion for a resolution
Paragraph 7 a (new)
7a. Reiterates its call to revise current international accounting standards with the aim of increasing transparency; calls in this regard for a requirement for the disclosure in companies' annual accounts, on a country-by-country basis, of accounting information relating to tax havens;
2013/03/01
Committee: ECON
Amendment 114 #

2013/0000(INI)

Motion for a resolution
Paragraph 11 a (new)
11a. Asks the Commission to study the possibility of introducing European taxation on cross-border business models and electronic commerce;
2013/03/01
Committee: ECON
Amendment 160 #

2013/0000(INI)

Motion for a resolution
Paragraph 18 a (new)
18a. supports the efforts of IOSCO to introduce Legal Entity Identifiers as a step towards ensuring traceability and transparency of financial transaction, key to facilitate the fight against tax fraud;
2013/03/01
Committee: ECON
Amendment 227 #

2013/0000(INI)

Motion for a resolution
Paragraph 31 a (new)
31a. Urges the EU to examine a range of options for sanctions and incentives to promote good tax governance such as a special levy on all movements to or from non-cooperative jurisdictions, the non- recognition, within the EU, of the legal status of companies set up in non- cooperative jurisdictions and the prohibition for EU financial institutions to establish or maintain subsidiaries and branches in non-cooperative jurisdictions;
2013/03/01
Committee: ECON
Amendment 47 #

2012/2150(INI)

Motion for a resolution
Paragraph 6
6. Urges the Commission to be more explicit in its recommendations and, to monitor recommendations made in the past, i.a. by providing more detailed explanations and evaluations in those cases where the Commission thinks a country has only partially followed the recommendations; and to take full account of the different economic and social realities of each Member State. Considers that the Commission should address recommendations to Member States on how to minimise the spill-over effects of their internal policies and facilitate compliance of other Member States.
2012/09/13
Committee: ECON
Amendment 66 #

2012/2150(INI)

Motion for a resolution
Paragraph 7
7. Encourages the Member States to strictly follow the rules set by the Stability and Growth Pact, as modified by the ‘six- pack’, in order to render public finances more resilient, ensure that the European economy becomes more sustainable and reduce pressure from the banking sector; expects the Commission and the Council to enforce these rules in a strict manner; firmly believes that fiscal discipline and fiscal institutions should be strengthened at both national and sub-national level and that government expenditure should be shifted towards long-term investment, which would foster sustainable growth; calls Member States to avoid undesired spill-over effects by facilitating compliance by other Member States in particular taking due account of recommendations made to other Member States when drawing their own policies.
2012/09/13
Committee: ECON
Amendment 79 #

2012/2150(INI)

Motion for a resolution
Paragraph 8
8. Welcomes the end of excessive deficit procedures for several Member States; hopes that more procedures can be brought to an end in the near future; Welcomes the start of the functioning the Macroeconomic Imbalance Procedure
2012/09/13
Committee: ECON
Amendment 95 #

2012/2150(INI)

Motion for a resolution
Paragraph 11
11. LaudCelebrates the economic dialogue held so far between Parliament and national representatives, and wishes to conduct further dialogues; believes that the full involvement of the European Parliament is necessary for the decision making process of the European Semester for Economic Policy Coordination and the Economic Governance in general
2012/09/13
Committee: ECON
Amendment 104 #

2012/2150(INI)

Motion for a resolution
Paragraph 12
12. Underlines the need to strengthen the working methods of the Eurogroup; believes that moving from an Intergovernmental to a Community approach is needed.
2012/09/13
Committee: ECON
Amendment 40 #

2012/2092(BUD)

Draft opinion
Paragraph 9 a (new)
9 a. Believes that enforcement of competition policy is essential and should be strengthened and that, therefore, more resources are needed to ensure that competition authorities are more proactive and more efficient and are able to deal properly with their rising workload;
2012/07/24
Committee: ECON
Amendment 1 #

2012/2063(INI)

Draft opinion
Section 1 – paragraph -1 (new)
-1. Maintains that the Union’s development policy should be carried out within the framework of the obligation agreed in the United Nations and other organisations and competent international bodies and that the contribution of fishing to development should be made within the framework of the principles and objectives of the Union’s external action and should contribute towards the main aim of Union development policy, which is to reduce and ultimately eradicate poverty in developing countries;
2012/07/18
Committee: PECH
Amendment 2 #

2012/2063(INI)

Draft opinion
Section 1 – paragraph -1 a (new)
-1a. The Union shall contribute to development in the sphere of fishery by supporting the principle of surplus fishing stocks and other rules laid down in the UN Convention on the Law of the Sea and the application of the FAO Guidelines for responsible fisheries and the FAO Compliance Agreement on the conservation and management of fisheries resources at global level;
2012/07/18
Committee: PECH
Amendment 3 #

2012/2063(INI)

Draft opinion
Section 1 – paragraph -1 b (new)
-1b. Emphasises that the objectives of fisheries policy must be carried out transparently and coherently with other Union objectives and that their impact on development must be planned, measured, assessed and regularly and systematically subjected to democratic control;
2012/07/18
Committee: PECH
Amendment 4 #

2012/2063(INI)

Draft opinion
Section 1 – paragraph -1 c (new)
-1c. Advocates ensuring full coherence with and building synergies between the design, development, monitoring and evaluation of Community development cooperation policy and that of sectoral policies, particularly those with the greatest impact on development such as trade, agricultural and fisheries policies, bearing in mind that the greatest part of the value of world catch is fished in the waters of developing countries, that the majority of catches in ACP waters are made by foreign vessels and that fishing is the source of over one quarter of the protein intake of people in developing countries;
2012/07/18
Committee: PECH
Amendment 5 #

2012/2063(INI)

Draft opinion
Section 1 – paragraph -1 d (new)
-1d. Clearly states that fisheries cooperation agreements and the fisheries- related aspects of development cooperation agreements and EU commercial agreements should contribute towards making fishing a socially, economically and environmentally sustainable activity for the EU and its partners;
2012/07/18
Committee: PECH
Amendment 9 #

2012/2063(INI)

Draft opinion
Section 1 – paragraph 2 a (new)
2a. Calls on the Commission to ensure that its external action in general, and Fisheries Partnership Agreements in particular, promote good governance and transparency and create the conditions for developing third countries to base their fisheries policies on the same guidelines and sustainability standards as the common fisheries policy, including the adoption of decisions based on scientific reports and impact studies and the drafting of multiannual plans allowing exploitation proportionate to the maximum sustainable yield of stocks; special support for small scale fishing and aquaculture activities and the communities which depend on them; promotion of selective fishing, adaptation of fleet capacity to resources and more responsible fishing practices; gradual reduction and ultimate elimination of discards and efforts to combat illegal, unreported and unregulated fishing; improvements to safety and welfare conditions at work, protection of biodiversity and the environment and measures to combat climate change; product quality and better marketing, and promotion of research and innovation to increase the sustainability of activities in the sphere of fishery, aquaculture and associated industries;
2012/07/18
Committee: PECH
Amendment 11 #

2012/2063(INI)

Draft opinion
Section 1 – paragraph 3 a (new)
3a. Firmly maintains that, in their relations with third countries and their actions within international organisations, the Union and its Member States shall contribute to building the capacities of societies and governments of developing countries to draft, implement and control sustainable fisheries policies which increase their food security and contribute to their development;
2012/07/18
Committee: PECH
Amendment 18 #

2012/2063(INI)

Draft opinion
Section 1 – paragraph 7 a (new)
7a. Emphasises that fisheries cooperation is able to directly benefit the 150 million people on our planet who rely on fishing and fishery related activities for their livelihood.
2012/07/18
Committee: PECH
Amendment 21 #

2012/2009(DEC)

Draft opinion
Paragraph 1 – point c
(c) has ignored the fact that a multi-species fishing system, like that in the Mediterranean and Sole Bank, cannot be founded on catch quotas.
2012/06/04
Committee: PECH
Amendment 46 #

2012/2009(DEC)

Draft opinion
Paragraph 4 – point -a (new)
(-a) making available the funding needed for the proper implementation of the multiannual management plans and the achievement of the MSY;
2012/06/04
Committee: PECH
Amendment 50 #

2012/2009(DEC)

Draft opinion
Paragraph 4 – point d
(d) encouraging specific funding for the use of more selective and environmentally friendly fishing equipment, in particular under the framework of specific programmes supporting artisanal fishing, traditional aquaculture and small-scale fishing, including shellfish gathering and mussel breeding in the natural environment.
2012/06/04
Committee: PECH
Amendment 84 #

2012/0244(COD)

Proposal for a regulation
Recital 2
(2) TFollowing the adoption of the Treaty establishing the European Stability Mechanism, the provision for a sSingle sSupervisory mMechanism, is thekey to break the vicious circle between banks and sovereigns; to have the possibility to recapitalise banks directly; as well as a first step towards the creation of an European bBanking uUnion, which needs to be complemented with common mechanisms to resolve banks and guarantee customer deposits underpinned at EU level by a true single rulebook for financial services and composed also of a common deposit insurance and resolution framework too.
2012/10/30
Committee: ECON
Amendment 103 #

2012/0244(COD)

Proposal for a regulation
Recital 4
(4) The conferral to the ECB of supervisory tasks to the ECB ion the banking sector for part of the Member States of the Union should not in any way hamper thepromote the safety and solvency of banks to preserve financial stability and to ensure the use of euro as a single currency in the banking sector while guaranteeing the integrity and well functioning of the internal market in the field of financial services. IFollowing such conferral, it is therefore necessary to ensure the proper functioning of the EBA following that conferral.
2012/10/30
Committee: ECON
Amendment 114 #

2012/0244(COD)

Proposal for a regulation
Recital 5
(5) In view of the supervisory tasks conferred on the ECB by Council Regulation (EU) No …/… [127(6) Regulation], EBA should be able to carry out its tasks also in relation to the ECB. In order to ensure that existing mechanisms for settlement of disagreements and actions in emergency situations remain effective, a specific procedure should be provided for. In particular, if the ECB does not comply with an action by EBA to settle a disagreement or to address an emergency situation, it should be required to explain its reasons. In that case, whenever based on requirements set out in directly applicable Union law EBA can adopt an individual decision addressed to the financial institution concerned, it should do so.
2012/10/30
Committee: ECON
Amendment 131 #

2012/0244(COD)

Proposal for a regulation
Recital 7
(7) Decisions concerning breaches of Union law and settlement of disagreements should be examined by an independent panels composed of voting members of the Board of Supervisors which do not have any conflicts of interest, appointed by the Board of Supervisors. The decisions proposed by the panel to the Board of Supervisors should be considered as adopted unless rejected by a simple majority, which should include an adequate number of votes from members from euro area Member States participating in the SSM and from Member States that do not participate in the SSM, non euro area Member States associated in the ESM and from the rest of the Member States.
2012/10/30
Committee: ECON
Amendment 140 #

2012/0244(COD)

Proposal for a regulation
Recital 8
(8) The euro area members of the independent panels set up according to Article 41(2) of Regulation (EU) No 1093/2010 should not be considered to be in a situation of conflict of interest on the sole ground that they are representatives of competent authorities which are part of the SSM and a given case to be decided upon by the Panel concerns the SSM. The EBA should develop rules of procedure for the panel that ensure its independence and objectivity.
2012/10/30
Committee: ECON
Amendment 169 #

2012/0244(COD)

Proposal for a regulation
Article 1 – point -1 f (new)
Regulation (EU) No 1093/2010
Article 2 – paragraph 2 – point (f)
-1f. Article 2(2)(f) is replaced by the following: "(f) the Eurobanking Central Supervisor (ECS) and the assisting National Authorities for the tasks conferred upon it by Council Regulation (EU) No .../... [127(6) TFEU and the competent supervisory authorities in the Member States as specified in the Union acts referred to in Article 1 (2) of this Regulation, of Regulation (EU) No 1094/2010 and of Regulation (EU) No 1095/2010."
2012/10/30
Committee: ECON
Amendment 173 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point -1 j (new)
Regulation (EU) No 1093/2010
Article 3
-1j. Article 3 is replaced by the following: "Accountability of the Authorities The Authorities referred to in Article 2(2)(a) to (d) as well the ECS and the assisting National Authorities in accordance with Council Regulation (EU) No .../... [127(6) TFEU Council Regulation], shall be accountable to the European Parliament and the Council."
2012/10/30
Committee: ECON
Amendment 176 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 1
Regulation (EU) No 1093/2010
Article 4 – point 2 – point (i)
"(i) Competent authorities as defined in Directives 2006/48/EC and 2006/49/EC, including the Eurobanking Central Supervisor (ECS) as the separate supervisory branch within the ECB for matters related to the tasks conferred upon it by Council Regulation (EU) No …/….../... [127(6) TFEU Council Regulation], in Directive 2007/64/EC, and as referred to in Directive 2009/110/EC."
2012/10/30
Committee: ECON
Amendment 181 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 1 e (new)
Regulation (EU) No 1093/2010
Article 8 – paragraph 1 – point j a (new)
1 e. In Article 8(1) the following point is inserted after point (j): "ja. develop and update, taking into account changing business practices and market structures, a Single Supervisory Handbook across the whole Union with the core of methodologies to identify and measure risks at banks, the framework to assess the bank’s policies to contain those risks and the criteria to define possible corrective actions."
2012/10/30
Committee: ECON
Amendment 188 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point a
Regulation EU No 1093/2010
Article 18 – paragraph 1 – subparagraph 1
"1. In the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Union, the Authority shall actively facilitate and, where deemed necessary, coordinate any actions undertaken by the ECS or any other relevant competent supervisory authorities."
2012/10/30
Committee: ECON
Amendment 189 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point a
Regulation EU No 1093/2010
Article 18 – paragraph 1 – subparagraph 2
"In order to be able to perform that facilitating and coordinating role, the Authority shall be fully informed of any relevant developments, and shall be invited to participate as an observelead supervisor in any relevant gathering bycalled at its own initiative or at the initiative of the relevant competent supervisory authorities."
2012/10/30
Committee: ECON
Amendment 193 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point b
Regulation (EU) No 1093/2010
Article 18 – paragraph 3a
"3a. Where the Authority requests the ECB as competent authority to take the necessary action in accordance with paragraph 3, the ECB shall comply with it or shall provide within 48 hours at the latest adequate justification to the Authority for its non-complianceexplaining where appropriate whether it refers mainly to the use and smooth functioning of the euro as the single currency."
2012/10/30
Committee: ECON
Amendment 202 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 3
Regulation (EU) No 1093/2010
Article 19 – paragraph 3a
"3a. Where the Authority requests the ECB as competent authority to take specific action or to refrain from action in accordance with paragraph 3, the ECB shall comply with it or shall within ten working days of the receipt of the request provide adequate justification to the Authority for its non-complianceexplaining where appropriate whether it refers mainly to the use and smooth functioning of the euro as the single currency."
2012/10/30
Committee: ECON
Amendment 206 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 3 d (new)
Regulation (EU) No 1093/2010
Article 21 – paragraph 1
3d. In Article 21, paragraph 1 is replaced by the following: "1. The Authority shall contribute to promoting and monitoring the efficient, effective and consistent functioning of the colleges or supervisors referred to in Directive 2006/48/EC and foster the coherence of the application of Union law among the colleges of supervisors. With the objective of converging supervisory best practices the Authority shall promote joint supervisory plans and joint examinations; staff from the Authority shall be able to participate in the activities of the colleagues of supervisors, including on-site examinations, carried out jointly by two or more competent authorities."
2012/10/30
Committee: ECON
Amendment 207 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 3 e (new)
Regulation (EU) No 1093/2010
Article 27 – paragraph 2 – subparagraph 1
3e. In Article 27(2) subparagraph is replaced by the following: "2. The Authority shall contribute to the development of a system of coherent, robust and credible funding mechanisms with appropriate funding instruments linked to a set of coordinated national crisis management arrangements and to the creation of common mechanisms to resolve banks that include a European Authority that controls a European Fund."
2012/10/30
Committee: ECON
Amendment 208 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 3 f (new)
3f. In Article 29(1), point (c) is replaced by the following: "c. [...] developing high quality and uniform supervisory standards, including disclosure and reporting standards and international accounting standards in accordance with Article 1(3);"
2012/10/30
Committee: ECON
Amendment 209 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 4 – introductory part
Regulation (EU) No 1093/2010
Article 35
4. In Article 35, paragraphs 1, 2, 3 and 36 are replaced by the following:
2012/10/30
Committee: ECON
Amendment 210 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 4
Regulation (EU) No 1093/2010
Article 35 – paragraph 1
"1. At the request of the Authority, the competent authorities shall provide the Authority with all the necessary information to carry out the duties assigned to it by this Regulation, provided that they have legal access to the relevant information and that the request for information is necessary in relation to the nature of the duty in question. The information must be accurate, integral, complete and timely."
2012/10/30
Committee: ECON
Amendment 211 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 4
Regulation (EU) No 1093/2010
Article 35 – paragraph 2
"2. The Authority may also request information to be provided at recurring intervals and in specified formats or comparable templates. Such requests shall, where possible, be made using common reporting formats."
2012/10/30
Committee: ECON
Amendment 214 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 4 a (new)
Regulation (EU) No 1093/2010
Article 35 – paragraph 6
4 a. In Article 35, paragraph 6 is replaced by the following: "6. Where information is not available or is not expected to be made available [...] in a timely fashion, the Authority may, reasoning why the information concerning the respective individual information is necessary, request information from: - relevant financial institutions, - holding companies or/and branches of a relevant financial institution, - non-regulated operational entities within a financial group or conglomerate that are significant tot the financial activities of the relevant financial institutions, - persons involved in the activities of the relevant financial institutions, -auditors, credit rating agencies, financial infrastructures and any other third parties that have provided services or to whom the financial institutions have outsourced operational functions or activities. The addressees of such a request shall provide the Authority with clear, accurate and complete information promptly and without undue delay. The Authority shall inform the relevant competent authorities of requests in accordance with this paragraph and with paragraph 5. At the request of the Authority, the competent authorities shall assist the Authority in collecting the information."
2012/10/30
Committee: ECON
Amendment 220 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 5
Regulation (EU) No 1093/2010
Article 41 –paragraphs 2 – subparagraph 1
"For the purposes of Article 17 and 19, the Board of Supervisors shall establish an independent panels to facilitate a consistent and fair settlement of the disagreement, consisting of the Chairperson and at least two members appointed by the Board of Supervisors among its voting members. At least one member of tThe independent panels shall be integrated in a balanced way taking into account, where appropriate, if they come from a Member States which is not aare participating Member Statent, associated or not participant in accordance with Regulation (EU) No …/….../... [127(6) TFEU Council Regulation]."
2012/10/30
Committee: ECON
Amendment 228 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 5
Regulation (EU) No 1093/2010
Article 41 –paragraph 4
"4. The Board of Supervisors shall adopt rules of procedure for the panels referred to in paragraph 2, taking into account the different circumstances of the different settlement case and including rules implementing the requirement set out in the second subparagraph of that paragraph."
2012/10/30
Committee: ECON
Amendment 244 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 7
"With regard to decisions in accordance with Articles 17 and 19, the decision proposed by the panel shall be considered as adopted unless it is rejected by a simple majority which shall include at least three. Such majority shall be formed including, where appropriate, votes from members of participating Member States and three votes from, from associated Member States and members of Member States which are neither participating Member States in accordance with Regulation (EU) No …/….../...[127(6) TFEU Council Regulation] nor have entered into close cooperation with the ECB in accordance with that Regulation."
2012/10/30
Committee: ECON
Amendment 262 #

2012/0244(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 8
Regulation (EU) No 1093/2010
Article 45 – paragraph 1 – subparagraph 3
"The term of office of the members elected by the Board of Supervisors shall be 2 1/2 years. That term may be extended once. The composition of the Management Board shall be balanced and proportionate and shall reflect the Union as a whole. The Management Board shall inclu, taking into conside rat least two representatives from Member States which are not participatingion the position of the different Member States in accordance with Regulation [127(6) TFEU Council Regulation] nor have entered into close cooperation with the ECB in accordance with that Regulation. Mandates shall be overlapping and an appropriate rotating arrangement shall apply."
2012/10/30
Committee: ECON
Amendment 272 #

2012/0244(COD)

Proposal for a regulation
Article 2 – paragraph 1 – introductory part
Without prejudice to Article 81 of Regulation (EU) No 1093/2010, by 1 January 2016, the Commission shall publish aregular reports on the application of the provisions of this Regulation in relation to:
2012/10/30
Committee: ECON
Amendment 279 #

2012/0244(COD)

Proposal for a regulation
Article 2 – paragraph 2
The reportfirst report shall be issued by 1 January 2016. The reports shall take into account in particular any developments in the number of Member States whose currency is the Euro or whose competent authorities have entered into a close cooperation in accordance with Article 6 of Regulation …/… and shall examine whether in light of such developments any further adjustments of those provisions are necessary to ensure that EBA decisions are taken in the interest of maintaining and strengthening the internal market for financial services.
2012/10/30
Committee: ECON
Amendment 61 #

2012/0242(CNS)

Proposal for a regulation
Title 1
Proposal for a COUNCIL REGULATION OF THE EUROPEAN PARLIAMENT AND THE COUNCIL conferring specific tasks on the European Central Bank and adopting measures necessary for the use of the euro as the single currency concerning policies relating to the prudential supervision of credit institutions
2012/10/30
Committee: ECON
Amendment 62 #

2012/0242(CNS)

Proposal for a regulation
Citation -1 (new)
THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION
2012/10/30
Committee: ECON
Amendment 64 #

2012/0242(CNS)

Proposal for a regulation
Citation 1
Having regard to the Treaty on the Functioning of the European Union, and in particular the Articles 127(6) and 133 thereof,
2012/10/30
Committee: ECON
Amendment 68 #

2012/0242(CNS)

Proposal for a regulation
Citation 6
Acting in accordance with a specialqualified procedure that meets the requirements of both the special legislative procedure and the ordinary legislative procedure,
2012/10/30
Committee: ECON
Amendment 99 #

2012/0242(CNS)

Proposal for a regulation
Recital 5
(5) The solidity of credit institutions is in many instances still closely linked to the Member State in which they are established. Doubts about the sustainability of public debt, economic growth prospects, and the viability of credit institutions have been creating negative, mutually reinforcing market trends. This link affects specifically the use of the euro as a single currency because it causes financial fragmentation which impedes that the different members of private and public sectors being financed according their own creditworthiness altering the level playing field and may lead to risks for the viability of some credit institutions as well as for the stability of the financial system, and may impose a heavy burden for already strained public finances of the Member States concerned. The problem poses specific risks within the euro area where the single currency increases the likelihood that negative developments in one Member State can create risks for economic development and the stability of the Euro area as a whole.
2012/10/30
Committee: ECON
Amendment 229 #

2012/0242(CNS)

Proposal for a regulation
Recital 19 a (new)
(19 a) Systemic and moral hazard risks may cause very negative consequences to the solvency and safety of financial institutions and financial stability. They may harm also the functioning of the internal market, the real economy, the use of the euro as single currency and the public finances. They deserve an intense, effective and reliable supervision.
2012/10/30
Committee: ECON
Amendment 230 #

2012/0242(CNS)

Proposal for a regulation
Recital 19 b (new)
(19 b) Systemic risks are defined in accordance with Article 2(c) of the Regulation (EU) No 1092/2010 of the European Parliament and the Council of 24 November 2010 which defines it as a risk of disruption in the financial system with the potential to have serious negative consequences for the internal market and the real economy. All types of financial intermediaries, markets and infrastructure may be potentially systemically important to some degree.
2012/10/30
Committee: ECON
Amendment 231 #

2012/0242(CNS)

Proposal for a regulation
Recital 19 c (new)
(19 c) Moral hazard is defined as a risk produced when actors in financial services do not bear the full cost of their actions and are thus more likely to take such actions with the potential to pose serious negative consequences for the internal market, the financial stability, the real economy and the public finances. This definition is inspired by the OECD Glossary of terms. The Eurobanking Central Supervisor (ECS) should prevent and minimise these kinds of risks that incentivise financial players to increase their risks and to behave against the interest of the others, which is totally contrary to the essence of the EMU.
2012/10/30
Committee: ECON
Amendment 248 #

2012/0242(CNS)

Proposal for a regulation
Recital 23
(23) The ECB should carry out the tasks conferred on it with a view to ensuring the safety and soundness of credit institutions and the stability of the financial system of the Union and the unity and integrityto ensuring the use of euro as a single currency in the banking sector while guaranteeing the integrity and well functioning of the Iinternal Mmarket in the field of financial services, thereby ensuring also the protection of depositors and improving the functioning of the Internal Market, in accordance with the single rulebook for financial services in the Union.
2012/10/30
Committee: ECON
Amendment 408 #

2012/0242(CNS)

Proposal for a regulation
Article 1 – paragraph 1
This Regulation confers on the ECB specific tasks concerning policies relating to the prudential supervision of credit institutions, with a view to promoting the safety and soundness of credit institutions and the stability of the financial system, to ensure the use of the euro as a single currency with due regard for the unity and integrity of the internal market.
2012/10/30
Committee: ECON
Amendment 411 #

2012/0242(CNS)

Proposal for a regulation
Article 1 – paragraph 1 a (new)
The tasks conferred shall be conducted in line with EBA and recognised international standards. They must ensure the existence of a level playing field and support and facilitate productive activities for the real economy, prevent and avoid systemic and moral hazard risks as well as fiscal cost arising from failures and banking crisis.
2012/10/30
Committee: ECON
Amendment 419 #

2012/0242(CNS)

Proposal for a regulation
Article 2 – paragraph 1 – point 1 a (new)
(1a) "Associated Member State" means a Member State whose currency is not the euro and which meets the requirements to be associated to the Eurobanking Central Supervisor;
2012/10/30
Committee: ECON
Amendment 420 #

2012/0242(CNS)

Proposal for a regulation
Article 2 – paragraph 1 – point 2
(2) ‘national competent authority’ means the national competent authority designated by participating or associated Member States in accordance with Directive 2006/48/EC of the European Parliament and the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast)13 and Directive 2006/49/EC of the European Parliament and the Council of 14 June 2006 on the capital adequacy of investment firms and credit institutions (recast)14 ;
2012/10/30
Committee: ECON
Amendment 426 #

2012/0242(CNS)

Proposal for a regulation
Article 2 – paragraph 1 – point 6 a (new)
1092/2010
Article 2
(6a) "Systemic risk" means a risk as defined in Article 2(c) of the Regulation (EU) No 1092/2010 of the European Parliament and the Council of 24 November 2010
2012/10/30
Committee: ECON
Amendment 428 #

2012/0242(CNS)

Proposal for a regulation
Article 2 – paragraph 1 – point 6 b (new)
(6b) "Moral hazard" means a risk produced when a behaviour of agents in financial services do not bear the full cost of their actions and are thus more likely to take such actions with the potential to have serious negatives consequences for the internal market, the financial stability, the real economy, the single currency or the public finances.
2012/10/30
Committee: ECON
Amendment 429 #

2012/0242(CNS)

Proposal for a regulation
Chapter 2 – title
Cooperation and tasksTasks conferred on the ECB
2012/10/30
Committee: ECON
Amendment 430 #

2012/0242(CNS)

Proposal for a regulation
Article 3
The ECB shall cooperate closely with the European Banking Authority, the European Securities and Markets Authority, the European Insurance and Occupational Pensions Authority and the European Systemic Risk Board, which form part of the European System of Financial Supervision established by Article 2 of Regulations (EU) No. 1093/2010, (EU) No 1094/2010, and (EU) No 1095/2010.Article 3 deleted Cooperation
2012/10/30
Committee: ECON
Amendment 470 #

2012/0242(CNS)

Proposal for a regulation
Article 4 – paragraph 1 – point d
(d) only in the cases specifically set out in Union acts, to set higher prudential requirements and apply additional measures to credit institutions supplementing the Union acts;
2012/10/30
Committee: ECON
Amendment 483 #

2012/0242(CNS)

Proposal for a regulation
Article 4 – paragraph 1 – point h
(h) To carry out supervisoryan annual agenda, supervisory programs horizontal reviews, thematic enquiries, aleatory inspections and stress-tests on credit institutions to support the supervisory review;
2012/10/30
Committee: ECON
Amendment 499 #

2012/0242(CNS)

Proposal for a regulation
Article 4 – paragraph 1 – point k
(k) To carry out supervisory tasks in relation to early intervention, prompt correction measures and all crisis management measures that do not involve winding up where a credit institution does not meet or is likely to breach the applicable prudential requirements, including recovery plans and intra group financial support arrangements, in coordination with the relevant resolution authorities;
2012/10/30
Committee: ECON
Amendment 533 #

2012/0242(CNS)

Proposal for a regulation
Article 4 – paragraph 4 a (new)
4a. In order to ensure consistent development and uniform conditions for the enforcement of this Regulation to prevent systemic and moral hazard risks and to promote the smooth use of the euro as a single currency, powers are delegated to the Commission to adopt regulatory prudential standards by means of Delegated Acts in accordance with Articles 8a to 8e and powers are conferred to the Commission to adopt implementing prudential standards through Regulations in accordance with Article 8f in relation to the powers conferred in the paragraphs 1 and 2 of this Article that are not conferred on the ECB by the Article 132(1) TFEU.
2012/10/30
Committee: ECON
Amendment 536 #

2012/0242(CNS)

Proposal for a regulation
Chapter II a (new)
CHAPTER IIa EUROBANKING CENTRAL SUPERVISOR Article 4 a Eurobanking Central Supervisor The tasks conferred on the ECB shall be carried out through a separate organization within the ECB, namely the Eurobanking Central Supervisor (ECS).
2012/10/30
Committee: ECON
Amendment 537 #

2012/0242(CNS)

Proposal for a regulation
Article 4 b (new)
Article 4 b Single Supervisory Mechanism The ECS shall carry out its tasks in a single supervisory mechanism that integrates also the assisting national competent authorities.
2012/10/30
Committee: ECON
Amendment 542 #

2012/0242(CNS)

Proposal for a regulation
Article 5 – title
NAssisting national authorities
2012/10/30
Committee: ECON
Amendment 543 #

2012/0242(CNS)

Proposal for a regulation
Article 5 – paragraph 1
1. The ECB shall carry out its tasks within a single supervisory mechanism composed of the ECB and national competent authorities.deleted
2012/10/30
Committee: ECON
Amendment 553 #

2012/0242(CNS)

Proposal for a regulation
Article 5 – paragraph 1
1. The ECBS shall carry out its tasks within a single supervisory mechanism composed of the ECB andthat integrates also the assisting national competent authorities.
2012/10/30
Committee: ECON
Amendment 564 #

2012/0242(CNS)

Proposal for a regulation
Article 5 – paragraph 2
2. National competent authorities of participating and associated Member States shall assist the ECBS on its request with the preparation and implementation of any acts relating to the tasks referred to in Article 4.
2012/10/30
Committee: ECON
Amendment 575 #

2012/0242(CNS)

Proposal for a regulation
Article 5 – paragraph 3
3. The ECBS shall organise the practical modalities of implementation of paragraph 2 by the national supervisory authorities in discharging its tasks. It shall clearly define the framework and conditions under which national competent authorities shall carry out those activities. The ECS shall entrust to assisting national authorities tasks relative to the ordinary day to day supervision of domestic banks that do not pose systemic or moral hazard risks or have insignificant impact in the transmission of the credit conditions of the single currency; in any case the ECS remains the ultimate responsible for all the aspects of supervision of all banks and may intervene directly in the activity of the banks.
2012/10/30
Committee: ECON
Amendment 592 #

2012/0242(CNS)

Proposal for a regulation
Article 5 – paragraph 4
4. National competent authorities shall follow the instructions given by the ECBS.
2012/10/30
Committee: ECON
Amendment 610 #

2012/0242(CNS)

Proposal for a regulation
Article 6 – title
Close cooperation with the competent authoritiesAssociation of non participating Member States
2012/10/30
Committee: ECON
Amendment 614 #

2012/0242(CNS)

Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1
1. Within the limits set out in this Article, the ECBS shall carry out the tasks in the areas referred to in Article 4 (1) and (2) in relation to credit institutions established in a Member State whose currency is not the euro, where a close coopern association has been established between the ECB and the national competent authority of such Member State in accordance with this Article.
2012/10/30
Committee: ECON
Amendment 626 #

2012/0242(CNS)

Proposal for a regulation
Article 6 – paragraph 2 – introductory part
2. The close cooperassociation between the ECBS and the national competent authority of a non participating Member State shall be established, by a decision adopted by the ECB after a proposal of the ECS, where the following conditions are met:
2012/10/30
Committee: ECON
Amendment 629 #

2012/0242(CNS)

Proposal for a regulation
Article 6 – paragraph 2 – point a
(a) The Member State concerned notifies the other Member States, the Commission, the ECS, the ECB and the EBA the request to enter into a close cooperfull association with the ECBS in relation to the exercise of the tasks referred to in Article 4 with regards to all credit institutions established in the Member State concerned;
2012/10/30
Committee: ECON
Amendment 630 #

2012/0242(CNS)

Proposal for a regulation
Article 6 – paragraph 2 – point b – indent 1
– to ensure that it accepts that its national competent authority will abide by any guidelines or requests issued by the ECBgive the same assistance inside the ECS as the authorities of participating Member States;
2012/10/30
Committee: ECON
Amendment 631 #

2012/0242(CNS)

Proposal for a regulation
Article 6 – paragraph 2 – point b – indent 2
– to provide all information on the credit institutions established in that Member State that the ECB may require for the purpose of carrying out a comprehensive assessment of those credit institutionsmeet the same conditions as participating Member States and, in particular, to take all the necessary measures to ensure that measures for prudential supervision arising from this Regulation or adopted in accordance with the Articles 132 and 133 TFEU are adopted internally.
2012/10/30
Committee: ECON
Amendment 632 #

2012/0242(CNS)

Proposal for a regulation
Article 6 – paragraph 2 – point b – indent 2 a (new)
- to be part of the programs or mechanisms of participating Member States to provide financial assistance for the recapitalisation of financial institutions or ensure financial stability.
2012/10/30
Committee: ECON
Amendment 634 #

2012/0242(CNS)

Proposal for a regulation
Article 6 – paragraph 2 – point c
(c) The Member State concerned has adopted national legal acts to ensure these compromises are met and that its national competent authority will be obliged to adopt any measure in relation to credit institutions requested by the ECBS, in accordance with paragraph 5Union law.
2012/10/30
Committee: ECON
Amendment 645 #

2012/0242(CNS)

Proposal for a regulation
Article 6 – paragraph 3
3. The decision referred to in paragraph 2 shall determine, in compliance with the Statute of ESCB and of the ECB, the conditions under which representatives of the competent authorities of the associated Member States which established a close cooperation in accordance with this Article shall take part to the activities of the Supervisory Board.
2012/10/30
Committee: ECON
Amendment 659 #

2012/0242(CNS)

CHAPTER II b COOPERATION Article 6a Cooperation with the European Authorities of micro and macro- supervision The ECB shall cooperate closely with the European Banking Authority, the European Securities and Markets Authority, the European Insurance and Occupational Pensions Authority and the European Systemic Risk Board, which form part of the European System of Financial Supervision established by Article 2 of Regulations (EU) No 1093/2010, (EU) No 1094/2010, and (EU) No 1095/2010.
2012/10/30
Committee: ECON
Amendment 669 #

2012/0242(CNS)

Proposal for a regulation
Article 8 – paragraph 1 – subparagraph 2
For the purpose of carrying out the task referred to in Article 4(1) and (2), the ECB shall be considered as the designated authority in accordance with the relevant acts of Union law and have the powers and obligations which designated authorities shall have under those actsThe ECS may prepare draft regulatory prudential standards and draft implementing regulatory standard in accordance with the Article 4(3) and Articles 8a to 8e of this Regulation.
2012/10/30
Committee: ECON
Amendment 677 #

2012/0242(CNS)

Proposal for a regulation
Section -1 (new) – Article 8 a (new)
SECTION -1 REGULATORY AND IMPLEMENTING PRUDENTIAL STANDARDS Article 8a Regulatory prudential standards 1. Where the European Parliament and the Council delegate power to the Commission to adopt Regulatory prudential standards by means of delegated acts pursuant to Article 290 TFEU in order to ensure consistent harmonisation in the areas specifically set out in the legislative acts referred to in Article 1(2), the ECS may develop draft Regulatory prudential standards. The ECS shall submit its draft standards to the Commission for endorsement. Regulatory prudential standards shall be delimited by this Regulation and by legislative acts on which they are based. Before submitting them to the Commission, the ECS shall conduct open public consultations on draft Regulatory prudential standards and analyse the potential related costs and benefits, unless such consultations and analyses are disproportionate in relation to the scope and impact of the draft Regulatory prudential standards concerned or in relation to the particular urgency of the matter. Where the ECS submits a draft Regulatory prudential standard, the Commission shall immediately forward it to the European Parliament and the Council. Within 3 months of receipt of a draft Regulatory prudential standard, the Commission shall decide whether to endorse it. The Commission may endorse the draft Regulatory prudential standards in part only, or with amendments, where the Union's interests so require. Where the Commission intends not to endorse a draft Regulatory prudential standard or to endorse it in part or with amendments, it shall send the draft Regulatory prudential standard back to the ECS, explaining why it does not endorse it, or, as the case may be, explaining the reasons for its amendments. Within a period of 6 weeks, the ECS may amend the draft Regulatory prudential standard on the basis of the Commission's proposed amendments and resubmit it in the form of a formal opinion to the Commission. The ECS shall send a copy of its formal opinion to the European Parliament and to the Council. If, on the expiry of that six-week period, the ECS has not submitted an amended draft Regulatory prudential standard, or has submitted a draft Regulatory prudential standard that is not amended in a way consistent with the Commission's proposed amendments, the Commission may adopt the Regulatory prudential standard with the amendments it considers relevant, or reject it. The Commission may not change the content of a draft Regulatory prudential standard prepared by the ECS without prior coordination with the ECS, as set out in this Article. 2. Where the ECS has not submitted a draft Regulatory prudential standard within the time limit set out in the legislative acts, the Commission may request such a draft within a new time limit. 3. Only where the ECS does not submit a draft Regulatory prudential standard to the Commission within the time limits in accordance with paragraph 2, may the Commission adopt a Regulatory prudential standard by means of a delegated act without a draft from the ECS. The Commission shall conduct open public consultations on draft Regulatory prudential standards and analyse the potential related costs and benefits, unless such consultations and analyses are disproportionate in relation to the scope and impact of the draft Regulatory prudential standards concerned or in relation to the particular urgency of the matter. The Commission shall immediately forward the draft Regulatory prudential standard to the European Parliament and the Council. The Commission shall send its draft Regulatory prudential standard to the ECS. Within a period of 6 weeks, the ECS may amend the draft Regulatory prudential standard and submit it in the form of a formal opinion to the Commission. The ECS shall send a copy of its formal opinion to the European Parliament and to the Council. If on the expiry of the six-week period referred to in the fourth subparagraph, the ECS has not submitted an amended draft Regulatory prudential standard, the Commission may adopt the Regulatory prudential standard. If the ECS has submitted an amended draft Regulatory prudential standard within the six-week period, the Commission may amend the draft Regulatory prudential standard on the basis of the ECS's proposed amendments or adopt the Regulatory prudential standard with the amendments it considers relevant. The Commission shall not change the content of the draft Regulatory prudential standard prepared by the ECS without prior coordination with the ECS, as set out in this Article. 4. The Regulatory prudential standards shall be adopted by means of regulations or decisions. They shall be published in the Official Journal of the European Union and shall enter into force on the date stated therein.
2012/10/30
Committee: ECON
Amendment 678 #

2012/0242(CNS)

Proposal for a regulation
Article 8 b (new)
Article 8b Exercise of the delegation 1. The power to adopt Regulatory prudential standards referred to in Article 8a shall be conferred on the Commission for a period of 4 years from*. The Commission shall draw up a report in respect of the delegated power not later than 6 months before the end of the 4- year period. The delegation of power shall be automatically extended for periods of an identical duration, unless the European Parliament or the Council revokes it in accordance with Article 8c. 2. As soon as it adopts a Regulatory prudential standard, the Commission shall notify it simultaneously to the European Parliament and to the Council. 3. The power to adopt Regulatory prudential standards is conferred on the Commission subject to the conditions laid down. _____________ *Date of entry into force of this Regulation
2012/10/30
Committee: ECON
Amendment 679 #

2012/0242(CNS)

Proposal for a regulation
Article 8 c (new)
Article 8c Revocation of the delegation 1. The delegation of power referred to in Article 8a may be revoked at any time by the European Parliament or by the Council. 2. The institution which has commenced an internal procedure for deciding whether to revoke a delegation of power shall endeavour to inform the other institution and the Commission within a reasonable time before the final decision is taken, indicating the delegated power which could be subject to revocation. 3. The decision of revocation shall put an end to the delegation of the power specified in that decision. It shall take effect immediately or at a later date specified therein. It shall not affect the validity of the Regulatory prudential standards already in force. It shall be published in the Official Journal of the European Union.
2012/10/30
Committee: ECON
Amendment 680 #

2012/0242(CNS)

Proposal for a regulation
Article 8 d (new)
Article 8d Objections to Regulatory prudential standards 1. The European Parliament or the Council may object to a Regulatory prudential standard within a period of 3 months from the date of notification of the Regulatory prudential standard adopted by the Commission. At the initiative of the European Parliament or the Council that period shall be extended by 3 months. Where the Commission adopts a Regulatory prudential standard which is the same as the draft Regulatory prudential standard submitted by the ECS, the period during which the European Parliament and the Council may object shall be 1 month from the date of notification. At the initiative of the European Parliament or the Council that period shall be extended by 1 month. 2. If, on the expiry of the period referred to in paragraph 1, neither the European Parliament nor the Council has objected to the Regulatory prudential standard, it shall be published in the Official Journal of the European Union and shall enter into force on the date stated therein. The Regulatory prudential standard may be published in the Official Journal of the European Union and enter into force before the expiry of that period if the European Parliament and the Council have both informed the Commission of their intention not to raise objections. 3. If either the European Parliament or the Council objects to a Regulatory prudential standard within the period referred to in paragraph 1, it shall not enter into force. In accordance with Article 296 TFEU, the institution which objects shall state the reasons for objecting to the Regulatory prudential standard.
2012/10/30
Committee: ECON
Amendment 681 #

2012/0242(CNS)

Proposal for a regulation
Article 8 e (new)
Article 8e Non-endorsement or amendment of draft Regulatory prudential standards 1. In the event that the Commission does not endorse a draft Regulatory prudential standard or amends it as provided for in Article 8a, the Commission shall inform the ECS, the European Parliament and the Council, stating its reasons. 2. Where appropriate, the European Parliament or the Council may invite the responsible Commissioner, together with the Chairperson of the ECS, within 1 month of the notice referred to in paragraph 1, for an ad hoc meeting of the competent committee of the European Parliament or the Council to present and explain their differences.
2012/10/30
Committee: ECON
Amendment 682 #

2012/0242(CNS)

Proposal for a regulation
Article 8 f (new)
Article 8f Implementing prudential standards 1. The ECS may develop Implementing prudential standards, by means of implementing acts pursuant to Article 291 TFEU, in the areas specifically set out in this legislation or in other legislative acts. Implementing prudential standards shall be technical, shall not imply strategic decisions or policy choices and their content shall be to determine the conditions of application of those acts. The ECS shall submit its draft Implementing prudential standards to the Commission for endorsement. Before submitting draft Implementing prudential standards to the Commission, the ECS shall conduct open public consultations and shall analyse the potential related costs and benefits, unless such consultations and analyses are disproportionate in relation to the scope and impact of the draft Implementing prudential standards concerned or in relation to the particular urgency of the matter. Where the ECS submits a draft Implementing prudential standard, the Commission shall immediately forward it to the European Parliament and the Council. Within 3 months of receipt of a draft Implementing prudential standard, the Commission shall decide whether to endorse it. The Commission may extend that period by 1 month. The Commission may endorse the draft Implementing prudential standard in part only, or with amendments, where the Union's interests so require. Where the Commission intends not to endorse a draft Implementing prudential standard or intends to endorse it in part or with amendments, it shall send it back to the ECS explaining why it does not intend to endorse it, or, as the case may be, explaining the reasons for its amendments. Within a period of 6 weeks, the ECS may amend the draft Implementing prudential standard on the basis of the Commission's proposed amendments and resubmit it in the form of a formal opinion to the Commission. The ECS shall send a copy of its formal opinion to the European Parliament and to the Council. If, on the expiry of the six-week period referred to in the fifth subparagraph, the ECS has not submitted an amended draft Implementing prudential standard, or has submitted a draft Implementing prudential standard that is not amended in a way consistent with the Commission's proposed amendments, the Commission may adopt the Implementing prudential standard with the amendments it considers relevant or reject it. The Commission shall not change the content of a draft Implementing prudential standard prepared by the ECS without prior coordination with the ECS, as set out in this Article. 2. In cases where the ECS has not submitted a draft Implementing prudential standard within the time limit set out in the legislative acts, the Commission may request such a draft within a new time limit. 3. Only where the ECS does not submit a draft Implementing prudential standard to the Commission within the time limits in accordance with paragraph 2, may the Commission adopt an Implementing prudential standard by means of an implementing act without a draft from the ECS. The Commission shall conduct open public consultations on draft Implementing prudential standards and analyse the potential related costs and benefits, unless such consultations and analyses are disproportionate in relation to the scope and impact of the draft Implementing prudential standards concerned or in relation to the particular urgency of the matter. The Commission shall immediately forward the draft Implementing prudential standard to the European Parliament and the Council. The Commission shall send the draft Implementing prudential standard to the ECS. Within a period of 6 weeks, the ECS may amend the draft Implementing prudential standard and submit it in the form of a formal opinion to the Commission. The ECS shall send a copy of its formal opinion to the European Parliament and to the Council. If, on the expiry of the six-week period referred to in the fourth subparagraph, the ECS has not submitted an amended draft Implementing prudential standard, the Commission may adopt the Implementing prudential standard. If the ECS has submitted an amended draft Implementing prudential standard within that six-week period, the Commission may amend the draft Implementing prudential standard on the basis of the ECS's proposed amendments or adopt the Implementing prudential standard with the amendments it considers relevant. The Commission shall not change the content of the draft Implementing prudential standards prepared by the ECS without prior coordination with the ECS, as set out in this Article. 4. The Implementing prudential standards shall be adopted by means of regulations. They shall be published in the Official Journal of the European Union and shall enter into force on the date stated therein.
2012/10/30
Committee: ECON
Amendment 683 #

2012/0242(CNS)

Proposal for a regulation
Section -1 a (new) – Article 8 g (new)
SECTION -1a DECISIONS Article 8g Decisions In order to carry out the tasks entrusted to the ECB, the ECS shall submit a proposal to the ECB to take the decisions necessary for carrying out the tasks entrusted in accordance with this Regulation.
2012/10/30
Committee: ECON
Amendment 700 #

2012/0242(CNS)

Proposal for a regulation
Article 11 – paragraph 1
1. In order to carry out the tasks conferred upon it by this Regulation, the ECBS may conduct all necessary on-site inspections at the business premises of the legal persons referred to in Article 9(1) (a) to (g), in accordance with Article 12. Where the proper conduct and efficiency of the inspection so require, the ECBS may carry out the on-site inspection without prior announcement.
2012/10/30
Committee: ECON
Amendment 703 #

2012/0242(CNS)

Proposal for a regulation
Article 11 – paragraph 2
2. The officials of and other persons authorised by the ECBS to conduct an on- site inspection may enter any business premises and land of the legal persons subject to an investigation decision adopted by the ECB and shall have all the powers stipulated in Article 10 (1). They shall also have the power to seal any business premises and books or records for the period of, and to the extent necessary for, the inspection.
2012/10/30
Committee: ECON
Amendment 706 #

2012/0242(CNS)

Proposal for a regulation
Article 11 – paragraph 3
3. The persons referred to in Article 9(1) (a) to (g) shall submit to on-site inspections ordered by decision of the ECBS.
2012/10/30
Committee: ECON
Amendment 709 #

2012/0242(CNS)

Proposal for a regulation
Article 11 – paragraph 4
4. Officials of, as well as those authorised or appointed by, the competent authority of the Member State where the inspection is to be conducted shall, upon the request of the ECBS, actively assist the officials of and other persons authorised by the ECBS. To that end, they shall enjoy the powers set out in paragraph 2. Officials of the competent authority of the participating Member State concerned may also attend the on-site inspections upon request.
2012/10/30
Committee: ECON
Amendment 711 #

2012/0242(CNS)

Proposal for a regulation
Article 11 – paragraph 5
5. Where the officials of and other accompanying persons authorised by the ECBS find that a person opposes an inspection ordered pursuant to this Article, the competent authority of the participating Member State shall afford them the necessary assistance.
2012/10/30
Committee: ECON
Amendment 738 #

2012/0242(CNS)

Proposal for a regulation
Article 14 a (new)
Article 14a Corrective powers 1. The ECS shall have the power at an early stage to address unsafe and unsound practices or activities that could pose risks to banks or to the banking system. The supervisor shall have at its disposal an adequate range of supervisory tools to bring about timely corrective actions. Where the ECS requests a bank to take significant corrective actions, these shall be addressed in a written document to the bank's Board. The ECS shall require the bank to submit regular written progress reports and checks that corrective actions are completed satisfactorily. The ECS shall act where a bank falls below established regulatory threshold requirements, including prescribed regulatory ratios or measurements. The ESC shall also intervene at an early stage to require a bank to take action to prevent it from reaching its regulatory threshold requirements. The ECS shall provide clear prudential objectives or and will set out the actions to be taken, which may include restricting the current activities of the bank, imposing more stringent prudential limits and requirements, withholding approval of new activities or acquisitions, restricting or suspending payments to shareholders or share repurchases, restricting or requiring asset transfers, barring individuals from the banking sector, replacing or restricting managers or directors, Board members or controlling owners, appointing an administrator to take control and manage the firm or parts of its business; pursuing claims against responsible persons including the recovering of variable remuneration; facilitating a takeover by or merger with a healthier institution, providing for the interim management of the bank, and revoking or recommending the revocation of the banking licence.
2012/10/30
Committee: ECON
Amendment 772 #

2012/0242(CNS)

Proposal for a regulation
Article 16 – paragraph 1
1. When carrying out the tasks conferred upon it by this Regulation, the ECB shall act independentlyand assisting national authorities shall act independently. The ECB by decision shall approve the agreement between the Governing Council of the ECB and the Supervisory Board of the ECS establishing the practical arrangements to ensure the separations of the functions as well as the operational independence between the ECS supervisory functions and the other functions of the ECB.
2012/10/30
Committee: ECON
Amendment 776 #

2012/0242(CNS)

Proposal for a regulation
Article 16 – paragraph 2 a (new)
2a. The Supervisory Board of the ECS shall put in place a Code of Conduct including rules of conflict of interest that applies to its staff and management.
2012/10/30
Committee: ECON
Amendment 779 #

2012/0242(CNS)

Proposal for a regulation
Article 17 – paragraph 1
The ECBS and the assisting national authorities integrated within shall be accountable to the European Parliament and to the Council for the implementation of this Regulation, in accordance with this Chapter
2012/10/30
Committee: ECON
Amendment 788 #

2012/0242(CNS)

Proposal for a regulation
Article 18 – paragraph 2
2. The ECB shall carry out the tasks conferred upon it by this Regulation separately from its tasks relating to monetary policy and from any other tasks. The tasks conferred upon the ECB by this regulation shall not interfere with the ECB's tasks relating to monetary policy and any other tasks. The tasks conferred upon the ECB by this Regulation do not alter the ongoing monitoring of the solvency of its borrowers.
2012/10/30
Committee: ECON
Amendment 878 #

2012/0242(CNS)

Proposal for a regulation
Article 20 – paragraph 1
1. Members of the Supervisory Board and staff of the ECBS carrying out supervisory duties, even after their duties are ceased, shall be subject to the professional secrecy requirements set out in Article 37 of Protocol No. 4 of the ECB and in the relevant acts of Union law.
2012/10/30
Committee: ECON
Amendment 883 #

2012/0242(CNS)

Proposal for a regulation
Article 21 – paragraph 1
1. The ECBS shall submit each year to the European Parliament, the Council, the Commission and the Eurogroup a report on the execution of the tasks conferred upon it by this Regulation.
2012/10/30
Committee: ECON
Amendment 887 #

2012/0242(CNS)

Proposal for a regulation
Article 21 – paragraph 2
2. The Chair of the supervisory board of the ECBS shall present this report to the European Parliament and to the Eurogroup in the presence of representatives from any non participating Member State in relation to which a close cooperation in accordance with Article 6 is in place.
2012/10/30
Committee: ECON
Amendment 899 #

2012/0242(CNS)

Proposal for a regulation
Article 21 – paragraph 4
4. The ECBS shall reply orally or in writing to questions put to it by the European Parliament or by the Eurogroup.
2012/10/30
Committee: ECON
Amendment 926 #

2012/0242(CNS)

Proposal for a regulation
Article 25 – paragraph 1
1. The ECBS shall ensure an appropriate exchange and secondment of staff with and among assisting national competent authorities.
2012/10/30
Committee: ECON
Amendment 928 #

2012/0242(CNS)

Proposal for a regulation
Article 25 – paragraph 2
2. The ECBS shall require where appropriate that supervisory teams of national competent authorities taking supervisory actions regarding a credit institution, financial holding company or mixed financial holding company located in one participating Member State in accordance with this regulation involve also staff from national competent authorities of other participating Member States.
2012/10/30
Committee: ECON
Amendment 1 #

2012/0229(NLE)

Proposal for a recommendation
Paragraph 1
1. Declines to cConsents to conclusion of the Protocol;
2013/09/11
Committee: PECH
Amendment 3 #

2012/0229(NLE)

Proposal for a recommendation
Paragraph 1 a (new)
1a. Calls on the Commission to forward to Parliament the minutes and the conclusions of the meetings of the Joint Committee provided for in Article 10 of the Agreement, as well as the multiannual sectoral programme provided for in Article 3 of the Protocol and the corresponding annual evaluations; calls on the Commission to facilitate the participation of representatives of Parliament as observers in the meetings of the Joint Committee; calls on the Commission to submit to Parliament and the Council, within the last year of application of the Protocol and before the opening of negotiations for its renewal, a full evaluation report on its implementation, without imposing unnecessary restrictions on access to this document;
2013/09/11
Committee: PECH
Amendment 4 #

2012/0229(NLE)

Proposal for a recommendation
Paragraph 1 b (new)
1b. Calls on the Council and the Commission, acting within the limits of their respective powers, to keep Parliament immediately and fully informed at all stages of the procedures related to the new Protocol and its renewal, pursuant to Article 13(2) of the Treaty on European Union and Article 218(10) of the Treaty on the Functioning of the European Union;
2013/09/11
Committee: PECH
Amendment 5 #

2012/0229(NLE)

2. Instructs its President to notify the Council that the Protocol cannot be concluddeleted;
2013/09/11
Committee: PECH
Amendment 95 #

2012/0179(COD)

Proposal for a regulation
Recital 2
(2) The Union is committed to implement the Resolutions adopted by the General Assembly of the United Nations, in particular Resolutions 61/105 and 64/72, which call on States and Regional Fisheries Management Organisations to ensure the protection of vulnerable deep-sea marine ecosystems from the destructive impact of bottom fishing gears, as well as the sustainable exploitation of deep-sea fish stocks.
2013/09/17
Committee: PECH
Amendment 98 #

2012/0179(COD)

Proposal for a regulation
Recital 2 a (new)
(2a) The development and adoption of the measures recommended by NEAFC to protect deep water vulnerable marine ecosystems against the adverse effects of bottom fishing gear, in accordance with resolutions 61/105 and 64/72, have been widely supported by the Union, and have been recognised by the General assembly of the United Nations as a very significant step towards achieving the goal of protecting vulnerable marine ecosystems and their biodiversity.
2013/09/17
Committee: PECH
Amendment 99 #

2012/0179(COD)

Proposal for a regulation
Recital 2 a (new)
(2a) Sedimentary and sandy seabed areas are not vulnerable marine ecosystems as defined in Regulation (EC) No 734/2008 on the protection of vulnerable marine ecosystems in the high seas from the adverse impacts of bottom fishing gears.
2013/09/17
Committee: PECH
Amendment 100 #

2012/0179(COD)

Proposal for a regulation
Recital 2 b (new)
(2b) These measures are proportionate and establish an efficient management framework based on additional measures: the freezing of existing fishing activities' footprint, the requirement to conduct impact and risk studies prior to the practice of fishing activities in new areas, and the respect of vulnerable marine ecosystems avoidance protocol when ships find indices of their presence. These measures should be formally incorporated into Union law in its entirety, when the transposition has not yet been achieved, despite the fact that the first of these measures have been adopted by NEAFC in 2008.
2013/09/17
Committee: PECH
Amendment 101 #

2012/0179(COD)

Proposal for a regulation
Recital 2 c (new)
(2c) FAO guidelines on the management of deep-sea fisheries in the High Seas adopted in 2008, that the Union committed to respect and which define the concrete implementation of resolution 61/105 of the United Nations General Assembly, invite coastal States to apply the principles and methods they contain in their national courts. Given the example provided by the relevance of the measures recommended to the flag States by the NEAFC for waters beyond national jurisdiction, there is no reason for the coastal States in the NEAFC regulated area not to apply these measures in their own waters. It is therefore appropriate to provide that the measures recommended by NEAFC to protect vulnerable marine ecosystems in deep water against the adverse effects of bottom fishing gears shall apply 'mutatis mutandis' in EU waters, instead of any other modality.
2013/09/17
Committee: PECH
Amendment 103 #

2012/0179(COD)

Proposal for a regulation
Recital 4
(4) In order to maintain necessary reductions in fishing capacity achieved so far in deep-sea fisheries, and to focus management measures on the most relevant part of the fleet for deep sea fisheries, it is appropriate to provide that fishing for deep-sea species is subject to a fishing authorisation which limits the capacity of vessels eligible to land deep-sea species. With a viewfish deep-sea species in a targeted manner. It is however necessary that fishing licenses are also delivered for bycatch fishing of deep-sea species, considering that all these fishing activities are likely to focus management measures on the part of the fleet most relevant for deep-sea fisheries, the fishing authorisations should be issued according to target or by- catch fisherycur in areas where deep water vulnerable marine ecosystems may be present, and that they should be protected against the adverse effects that may have these activities, including those using bottom gears. However, the Council and Parliament Regulation (EU) No xxx/2013 from xxx 2013 on the common fisheries policy defines a goal of eliminating discards that also apply to deep-sea species. The novelty of this new requirement should be taken into account so that vessels incidentally capturing deep-sea species and which are not currently subjected to a licensing regime for fishing, are not totally deprived of the opportunity to continue their traditional fishing activities.
2013/09/17
Committee: PECH
Amendment 106 #

2012/0179(COD)

Proposal for a regulation
Recital 6 a (new)
(6a) The forthcoming entry into force of the rules on the compulsory landing of discards will lead to greater demand for permits for deep-sea fishing.
2013/09/17
Committee: PECH
Amendment 108 #

2012/0179(COD)

Proposal for a regulation
Recital 7
(7) Deep-sea fishing with bottom trawls carry the highest risk for vulnerable marine ecosystems among the different gears used and reports the highest rates of undesired catch of deep-sea species. Bottom trawls should therefore be permanently prohibited from the targeting of deep-sea species.deleted
2013/09/17
Committee: PECH
Amendment 112 #

2012/0179(COD)

Proposal for a regulation
Recital 7
(7) Deep-sea fishing with bottom trawls carry the highest risk for vulnerable marine ecosystems among the different gears used and reports the highest rates of undesired catch of deep-sea species. Bottom trawls should therefore be permanently prohibited from the targeting of deep-sea speciesonly be used if guarantees can be provided as to the sustainability of fishing, in accordance with the provisions of this Regulation.
2013/09/17
Committee: PECH
Amendment 115 #

2012/0179(COD)

Proposal for a regulation
Recital 8
(8) Bottom-set gillnets are currently restricted in entering deep-sea fisheries by Council Regulation (EC) No 1288/2009 establishing transitional technical measures from 1 January 2010 to 30 June 2011. In view of the high rates of undesired catch when they were deployed unsustainably in deep waters, and in view of the ecological impact of lost and abandoned gear, this gear should also be permanently prohibited from the targeting of deep-sea species.deleted
2013/09/17
Committee: PECH
Amendment 118 #

2012/0179(COD)

Proposal for a regulation
Recital 8
(8) Bottom-set gillnets are currently restricted in entering deep-sea fisheries by Council Regulation (EC) No 1288/2009 establishing transitional technical measures from 1 January 2010 to 30 June 2011. In view of the high rates of undesired catch when they were deployed unsustainably in deep waters, and in view of the ecological impact of lost and abandoned gear, this gear should also be permanently prohibited from the targeting of deep-sea speciesonly be used if guarantees can be provided as to the sustainability of fishing, in accordance with the provisions of this Regulation.
2013/09/17
Committee: PECH
Amendment 124 #

2012/0179(COD)

Proposal for a regulation
Recital 10
(10) Moreover, vessels which haveo wish to change gear in order to be able to stay in the fishery should be eligible for receiving financial assistance from the European Fisheries Fund provided that the new gear reduces the impact of fishing on non- commercial species and provided also that the national operational programme allows contributing to such measures.
2013/09/17
Committee: PECH
Amendment 126 #

2012/0179(COD)

Proposal for a regulation
Recital 10
(10) Moreover, vessels which have to change gear in order to be able to stay in the fishery in a sustainable manner should be eligible for receiving financial assistance from the European Fisheries Fund provided that the new gear reduces the impact of fishing on non- commercial species and provided also that the national operational programme allows contributing to such measures.
2013/09/17
Committee: PECH
Amendment 129 #

2012/0179(COD)

Proposal for a regulation
Recital 11
(11) Vessels targeting deep-sea species with otherusing bottom gear should not extend their range of operation according to their authorisation within Union waters, unless expansion can be assessed as not carrying a significant risk of negative impact on vulnerable marine ecosystems.
2013/09/17
Committee: PECH
Amendment 130 #

2012/0179(COD)

Proposal for a regulation
Recital 11
(11) Vessels targetfishing deep-sea species with otherin a targeted or accessory manner with bottom gear should not extend their range of operation according to their fishing authorisation within Union waters, unless expansion can be assessed as not carrying a significant risk of negative impact on vulnerable marine ecosystems. Similarly, wherever their area of activity may be, when finding indices of the presence of vulnerable marine ecosystems, they should avoid these locations in the future, pending whether these indices reflect a proved presence of vulnerable marine ecosystems.
2013/09/17
Committee: PECH
Amendment 133 #

2012/0179(COD)

Proposal for a regulation
Recital 11 a (new)
(11a) The concept of technodiversity needs to be defined. Account must be taken of the fact that each type of gear has its own specific characteristics in terms its of capacity to capture a given species and its impact on the seabed. It should therefore be recognised that certain types of gear are better than others at catching a given species, depending on where the species is caught and whether it is endangered.
2013/09/17
Committee: PECH
Amendment 135 #

2012/0179(COD)

Proposal for a regulation
Recital 12
(12) Scientific advice concerning certain fish stocks found in the deep-sea indicates that these stocks are particularly vulnerable to exploitation, and that fishing for these stocks should be limited or reduced as a precautionary measure. Fishing opportunities for deep-sea stocks should not go beyond those levels which are scientifically advised as precautionary. In the case of advice being absent for lack of sufficient information about stocks or species, no fishing opportunities shouldmay only be allocated in accordance with the precautionary principle, based on the best available information.
2013/09/17
Committee: PECH
Amendment 136 #

2012/0179(COD)

Proposal for a regulation
Recital 12
(12) Scientific advice concerning certain fish stocks found in the deep-sea indicates that these stocks are particularly vulnerable to exploitation, and that fishing for these stocks should be limited or reduced as a precautionary measurehowever there have been quantified improvements in some stocks such as the roundnose grenadier, blue ling and black scabbardfish. Fishing opportunities for deep-sea stocks should not go beyond those levels which are scientifically advised as precautionary. In the case of advice being absent for lack of sufficient information about stocks or species, no fishing opportunities should be allocated.
2013/09/17
Committee: PECH
Amendment 139 #

2012/0179(COD)

Proposal for a regulation
Recital 12 a (new)
(12a) Regulation (EU) No xxx/2013 from the Council and the European Parliament from xxx 2013 on the common fisheries policy defines the rules which should govern the determination of opportunities in respect of the precautionary principle and aiming at quickly achieving maximum sustainable yield. There is no need to consider different ways from those defined as general, especially in spite of their particularly vulnerability to exploitation, several stocks of deep-water species with a major commercial interest are already recognised by ICES as being operated in accordance with the principle of maximum sustainable yield. The Commission may propose a framework for deep-sea species by-catch through a system of TACs and quotas, if it considers it necessary for their preservation.
2013/09/17
Committee: PECH
Amendment 163 #

2012/0179(COD)

Proposal for a regulation
Article 3 – paragraph 2 – point d
(d) ‘deep-sea species’ means the species listed in Annex I and Ia (new);
2013/09/17
Committee: PECH
Amendment 167 #

2012/0179(COD)

Proposal for a regulation
Article 3 – paragraph 2 – point e
(e) ‘most vulnerable species’ means the deep-sea species indicated in the third column ‘Most vulnerable (x)’ of the table in Annex Ia (new);
2013/09/17
Committee: PECH
Amendment 169 #

2012/0179(COD)

Proposal for a regulation
Article 3 – paragraph 2 – point e a (new)
(ea) ‘vulnerable marine ecosystem’ means any marine ecosystem whose integrity (i.e. ecosystem structure or function) is, according to the best scientific information available and to the principle of precaution, threatened by significant adverse impacts resulting from physical contact with bottom gears in the normal course of fishing operations, including inter alia reefs, seamounts, hydrothermal vents, cold water corals or cold water sponge beds. The most vulnerable ecosystems are those that are easily disturbed and in addition are very slow to recover, or may never recover.
2013/09/17
Committee: PECH
Amendment 177 #

2012/0179(COD)

Proposal for a regulation
Article 3 – paragraph 2 a (new)
2a. 'existing fishing areas' means fishing areas where fishing operations have been conducted since the entry into force of Council Regulation 2347/2002 of 16 December 2002 establishing specific access requirements and associated conditions applicable to fishing for deep- sea stocks;
2013/09/17
Committee: PECH
Amendment 179 #

2012/0179(COD)

Proposal for a regulation
Article 3 – paragraph 2 b (new)
2b. 'new fishing areas' means fishing areas where no previous deep-water fishing operations have been documented
2013/09/17
Committee: PECH
Amendment 180 #

2012/0179(COD)

Proposal for a regulation
Article 3 – paragraph 2 c (new)
2c. 'exploratory fishing' means fishing operations conducted in new fishing areas;
2013/09/17
Committee: PECH
Amendment 181 #

2012/0179(COD)

Proposal for a regulation
Article 3 – paragraph 2 d (new)
2d. 'fishing vessel' means a Union vessel operating in the waters defined in Article 2 or a third country vessel operating in Union waters;
2013/09/17
Committee: PECH
Amendment 185 #

2012/0179(COD)

Proposal for a regulation
Article 4 – paragraph 2 – point c
(c) the vessel's master records in the logbook a percentage of deep-seathe species defined in Annex I which is equal or superior to 1025% of the overall catch weight in the fishing daytrip concerned.
2013/09/17
Committee: PECH
Amendment 188 #

2012/0179(COD)

Proposal for a regulation
Article 4 – paragraph 2 – point c
(c) the vessel's master records in the logbook a percentage of deep-sea species equal or superior to 105% of the overall catch weight in the fishing day concerned or 10% of the annual total.
2013/09/17
Committee: PECH
Amendment 192 #

2012/0179(COD)

Proposal for a regulation
Article 4 – paragraph 3
3. Fishing activities carried out in Union waters not targeting deep-sea species but catching deep-sea species as a by-catch, carried out by a Union fishing vessel, shall be subject to a fishing authorisation, which shall indicate deep-sea species as by-catch.
2013/09/17
Committee: PECH
Amendment 194 #

2012/0179(COD)

Proposal for a regulation
Article 4 – paragraph 5
5. Notwithstanding paragraphs 1 and 3, fishing vessels may catch, retain on board, tranship or land any quantity of deep-sea species without a fishing authorisation, if that quantity is below a threshold set at 100 kg of any mixture of deep-sea species per fishing trip.deleted
2013/09/17
Committee: PECH
Amendment 198 #

2012/0179(COD)

Proposal for a regulation
Article 5 – paragraph 1
The aggregate fishing capacity measured in gross tonnage and in kilowatt of all fishing vessels holding a fishing authorisation issued by a Member State, allowing the targeted catch of deep-sea species, whether as target or by-catch species, as defined in Article 4 (2) shall at no time exceed the aggregate fishing capacity of vessels of that Member State which have landed 10 tonnes or more of deep-sea species during any of the two calendar years preceding the entry into force of this Regulation2009-2011, whichever year provides the higher figure.
2013/09/17
Committee: PECH
Amendment 205 #

2012/0179(COD)

Proposal for a regulation
Article 6 – paragraph 1
Each application for a fishing authorisation allowing for the catch of deep-sea species whether as target or by- catch specithin areas of existing fishing activities, and for its renewal shall be accompanied by a description of the area where it is intended to conduct fishing activities, the type of gears, the depth range at which the activities will be deployed, and of the individual species targetedrelevant species.
2013/09/17
Committee: PECH
Amendment 214 #

2012/0179(COD)

Proposal for a regulation
Article 6 a (new)
Article 6a Procedure for identification of areas of existing fishing activities The Commission shall identify areas of existing fishing activities in line with the provisions of Article 3 of the NEAFC recommendations on regulating bottom fishing, as quoted in Annex 2 a (new) of this Regulation.
2013/09/17
Committee: PECH
Amendment 219 #

2012/0179(COD)

Proposal for a regulation
Article 7 – paragraph 1 – introductory part
1. In addition to the requirements set out in Article 6, each application for a fishingn authorisation for targeted deep sea fisheries, as referred to in Article 4(1),fishing deep-water stocks that allows for the use of bottom gears in Union waters as rdeferred toined in Article 2(a), shall be accompanied by a detailed fishing plan specifyingor in waters under NEAFC jurisdiction as referred to in Article 2(c), shall:
2013/09/17
Committee: PECH
Amendment 220 #

2012/0179(COD)

Proposal for a regulation
Article 7 – paragraph 1 – introductory part
1. In addition to the requirements set out in Article 6, each application for a fishing authorisation for targeted deep sea fisheries, as referred to in Article 4(1), that allows the use of bottom gears in Union waters as referred to in Article 2(a), shall be accompanied by a detailed fishing plan specifying, in addition to the fishing gears and technical measures to be used:
2013/09/17
Committee: PECH
Amendment 221 #

2012/0179(COD)

Proposal for a regulation
Article 7 – paragraph 1 – point a
(a) the locations of the intended activities targeting deep-sea species in the deep-sea métier. The location(s) shall be defined by coordinates in accordance with the World Geodetic System of 1984list the bottom-sea gear that will be used;
2013/09/17
Committee: PECH
Amendment 224 #

2012/0179(COD)

Proposal for a regulation
Article 7 – paragraph 1 – point b
(b) the locations, if any, of activities in the deep-sea métier during the last three full calendar years. Those location(s) shall be defined by coordinates limit the authorised fishing accordance with the World Geodetic System of 1984 and they shall circumscribe the fishing activities as closely as possible.tivities to existing fishing areas;
2013/09/17
Committee: PECH
Amendment 227 #

2012/0179(COD)

Proposal for a regulation
Article 7 – paragraph 1 – point b a (new)
(ba) provide for the respect of measures currently applying in the NEAFC framework;
2013/09/17
Committee: PECH
Amendment 238 #

2012/0179(COD)

Proposal for a regulation
Article 7 – paragraph 2
2. Any fishing authorisation issued on the basis of an application made in accordance with paragraph 1 shall specify the bottom gear to be used and limit the fishing activities authorised to the area in which the intended fishing activity, as set out in paragraph 1(a), and the existing fishing activity, as set out in paragraph 1(b), overlap. However, the area of the intended fishing activity can be extended beyond the area of the existing fishing activity if the Member State has assessed and documented, based on scientific advice, that such extension would not have significant adverse impaWithout prejudice to Article 7 (1), fishing activities that are to take place in waters defined in paragraph 1 but that are defined as new fishing areas in the meaning of Article 3 paragraph 2b(new) shall be subject to a fishing authorisation. Applications for such authorisations shall include a detailed project for the exploratory fishing activity that follows the NEAFC guidelines outlined in Annex IIa(new). Applications will be accepted if it can be shown that the activity described will have no harmful effects on vulnerable marine ecosystems.
2013/09/17
Committee: PECH
Amendment 242 #

2012/0179(COD)

Proposal for a regulation
Article 7 – paragraph 2 – point 1 (new)
(1) Applications for fishing authorisations in waters defined at Article 2 point b) shall fulfil the conditions set out in Regulation (EC) No 734/2008 of 15th July 2008 on the protection of vulnerable marine ecosystems in the high seas from the adverse impacts of bottom fishing gears.
2013/09/17
Committee: PECH
Amendment 243 #

2012/0179(COD)

Proposal for a regulation
Article 7 – paragraph 2 – point 2 (new)
(2) Existing fishing areas, as defined under article 3 and provisions for identification, as set out in article 6a(new), correspond to: (a) in Union waters: fishing areas for which there is evidence of fishing activity in the period since the entry into force of Council Regulation 2347/2002 of 16th December 2002 establishing specific access requirements and associated conditions applicable to fishing for deep sea stocks. (b) in Union waters under NEAFC jurisdiction: existing fishing zones that are defined and established in the NEAFC framework, as mentioned in Annex IIb(new).
2013/09/17
Committee: PECH
Amendment 244 #

2012/0179(COD)

Proposal for a regulation
Article 7 – paragraph 2 – point 3 (new)
(3) Authorisations referred to in Article 4 shall require the notification of capture of species listed in Annex Ia (new), whether retained or discarded.
2013/09/17
Committee: PECH
Amendment 245 #

2012/0179(COD)

Proposal for a regulation
Article 7 – paragraph 2 – point 4 (new)
(4) In addition to the requirements in paragraph 5, by-catch authorisations, as defined in Article 4 (3) shall require the reporting of all species in Annex I, whether retained or discarded.
2013/09/17
Committee: PECH
Amendment 246 #

2012/0179(COD)

Proposal for a regulation
Article 7 – paragraph 2 – point 5 (new)
(5) Fishing activities conducted in the framework of fishing authorisations referred to in Article 4 may be subject to the introduction of quantitative limits on the total amount of catches of the species included in Annex Ia (new) if such a limit is necessary
2013/09/17
Committee: PECH
Amendment 251 #

2012/0179(COD)

Proposal for a regulation
Article 9
Expiry of fishing authorisations targeting deep-sea species for vessels using bottom trawls or bottom-set gillnets Fishing authorisations referred to in Article 4(1) for vessels using bottom trawls or bottom-set gillnets shall expire at the latest two years after the entry into force of this Regulation. After that date, fishing authorisations targeting deep-sea species with those gears shall neither be issued nor renewed.Article 9 deleted
2013/09/17
Committee: PECH
Amendment 253 #

2012/0179(COD)

Proposal for a regulation
Article 9
Expiry of fishing authorisations targeting deep-sea species for vessels using bottom trawls or bottom-set gillnets Fishing authorisations referred to in Article 4(1) for vessels using bottom trawls or bottom- set gillnets shall expire at the latest two years after the entry into force of this Regulation. After that date, fishing authorisations targeting deep-sea species with those gears shall neither be issued nor renewed1. Within two years of the entry into force of this Regulation, a decision shall be taken, on the basis of the results of the scientific evaluation of deep-sea resources, that will ensure a rate of exploitation in line with the maximum sustainable yield of stocks. the scientific evaluation shall take account of, in particular, the data obtained in the collection schemes covering fishing activities, for which authorisations are delivered, referred to in Article 8. 2. If the results of the scientific evaluation show that the stocks are being exploited at levels equivalent to the maximum sustainable yield, the fishing opportunities for the following year will be set according to these levels of exploitation. Technical measures will then be established with a view to minimising undesired catches of both vulnerable species and insufficiently large fish, and to mitigating any collateral damage to vulnerable ecosystems caused by fishing. 3. If the results of the scientific evaluation show that the stocks are being exploited at levels above the maximum sustainable yield, a recovery plan will be drawn up without delay, laying down rules under which fishing opportunities will be set in such a way as to return stocks to a level commensurate with maximum sustainable yield levels within a reasonable period of time. The recovery plan will be supplemented by technical measures to eliminate undesired catches of both vulnerable species and insufficiently large fish, and any collateral damage to vulnerable ecosystems caused by fishing.
2013/09/17
Committee: PECH
Amendment 269 #

2012/0179(COD)

Proposal for a regulation
Article 10 – paragraph 2 – point b
(b) where the best scientific information available does not identify exploitation rates corresponding to the precautionary approach to fisheries management due to lack of sufficient data concerning a certain stock or species, nothe fishing opportunities may be allocated for the fisheries concernedfor the relevant fishing management period may not be fixed higher than the rates provided within the ICES approach for data limited stocks.
2013/09/17
Committee: PECH
Amendment 278 #

2012/0179(COD)

Proposal for a regulation
Article 11 – paragraph 1
1. The Council, acting in accordance with the Treaty, may decide to switching from the fixing of annual fishing opportunities for deep-sea species in terms of both fishing effort limits and catch limits to the fixing of only fishing effort limits for specific fisheries shall be decided in accordance with the Treaty.
2013/09/17
Committee: PECH
Amendment 313 #

2012/0179(COD)

Proposal for a regulation
Article 20 – paragraph 2
2. The power to adopt delegated acts as referred to in Article 13 shall be conferred on the Commission for an indeterminateperiod of three years from the date of entry into force of this Regulation. The Commission shall draw up a report in respect of the delegation of power no later than nine months before the end of the three year period. The delegation of power shall be tacitly extended for periods of timean identical duration, unless the European Parliament or the Council oppose such extension no later than three months before the end of each period.
2013/09/17
Committee: PECH
Amendment 318 #

2012/0179(COD)

Proposal for a regulation
Article 22 – paragraph 1
Special fishing authorisations issued in accordance with Regulation (EC) No 2347/2002 shall remain valid until their replacement by fishing authorisations allowing the catch of deep-sea species issued in accordance with this Regulation, but shall in any case no longer be valid after 30 September 20124.
2013/09/17
Committee: PECH
Amendment 320 #

2012/0179(COD)

Proposal for a regulation
Annex I
Annex I Section 1: Deep-sea species Scientific name Common name Most vulnerable (x) Commercial species Most vulnerable (x) Centrophorus granulosus Gulper shark x Centrophorus squamosus Leafscale gulper shark x Centroscyllium fabricii Black dogfish x Centroscymnus coelolepis Portuguese dogfish x Centroscymnus crepidater Longnose velvet dogfish x Dalatias licha Kitefin shark x Etmopterus princeps Greater lanternshark x Apristuris spp Iceland catchark Chlamydoselachus anguineus Frilled shark Deania calcea Birdbeak dogfish Galeus melastomus Blackmouth dogfish Galeus murinus Mouse catshark Hexanchus griseus Bluntnose six-gilled shark x Etmopterus spinax shark Velvet belly Oxynotus paradoxus Sailfin roughsharkVelvet belly Scymnodon ringens Sailfin roughshark Somniosus microcephalus (Sharpback shark) Scymnodon ringens Knifetooth dogfish Somniosus microcephalus Greenland shark Alepocephalidae Smoothheads (Slickheads) Alepocephalus Bairdii Baird's smoothhead Alepocephalus rostratus(Slickheads) Alepocephalus rostratus Baird's smoothhead Risso's smoothhead Aphanopus carbo Black scabbardfish x Argentina silus Greater silver smelt x Beryx spp. Alfonsinos x Chaceon (Geryon) affinis Deep-water red crab Chimaera monstrosa Rabbit fish (rattail) Hydrolagus mirabilis Large-eyed rabbitfish (Ratfish) Rhinochimaera atlantica (Ratfish) Straightnose rabbitfish Coryphaenoides rupestris Roundnose grenadier Epigonus telescopus Black cardinalfish x x Helicolenus dactilopterus Bluemouth (Bluemouth redfish) Hoplostethus atlanticus Orange roughy x Macrourus berglax Roughhead grenadier (Rough rattail) Molva dypterigia Blue ling x Mora moro Common mora Antimora rostrata Blue antimora (Blue hake) Pagellus bogaraveo Red (blackspot) seabream Phycis blennoides Greater Forkbeard x Polyprion americanus Wreckfish Reinhardtius hippoglossoides Greenland halibut x Cataetyx laticeps Hoplosthetus mediterraneus Silver roughy (Pink) Macrouridae Grenadiers (rattails) other than Coryphaenoides rupestris other than roundnose grenadier and and Macrourus berglax rupestris and Macrourus grenadier and berglax roughhead grenadier Nesiarchus nasutus Black gemfish Notocanthus chemnitzii Snubnosed spiny eel Raja fyllae Round skate Raja hyperborea Arctic skate Raja nidarosiensus Norwegian skate Trachyscorpia cristulata Spiny (deep-sea) scorpionfish Section 2: Species regulated in NEAFC in addition Brosme brosme Tusk Conger conger Conger eel Lepidopus caudatus Silver scabbard fish (Cutless fish) Lycodes esmarkii Greater Eelpout Molva molva Ling Tusk x Sebastes viviparus Small redfish (Norway haddock) x
2013/09/17
Committee: PECH
Amendment 321 #

2012/0179(COD)

Proposal for a regulation
Annex I
Annex I Section 1: Deep-sea speciesAnnex I Scientific name Common name Most vulnerable (x) Centrophorus granulosus Gulper shark x Centrophorus squamosus Leafscale gulper shark x Centroscyllium fabricii Black dogfish x Centroscymnus coelolepis Portuguese dogfish x Centroscymnus crepidater Longnose velvet dogfish x Dalatias licha Kitefin shark x Etmopterus princeps Greater lanternshark x Apristuris spp Iceland catchark Chlamydoselachus anguineus Frilled shark Deania calcea Birdbeak dogfish Galeus melastomus Blackmouth dogfish Galeus murinus Mouse catshark Hexanchus griseus Bluntnose six-gilled shark x Etmopterus spinax Velvet belly Oxynotus paradoxus Sailfin roughshark (Sharpback Scymnodon ringens shark) Somniosus microcephalus Knifetooth dogfish Greenland shark Alepocephalidae Smoothheads (Slickheads) Alepocephalus Bairdii Baird's smoothhead Alepocephalus rostratus Risso's smoothhead Aphanopus carbo Black scabbardfish Argentina silusAphanopus carbo Black scabbardfish Argentina silus Greater silver smelt Beryx spp. Alfonsinos Chaceon (Geryon) affinis Deep-water red crab Chimaera monstrosa Rabbit fish (rattail) Hydrolagus mirabilis Large-eyed rabbitfish (Ratfish) Rhinochimaera atlantica Straightnose rabbitfish Coryphaenoides rupestris Roundnose grenadier Epigonus telescopus Black cardinalfish x Helicolenus dactilopterus Bluemouth (Bluemouth redfish) Hoplostethus atlanticus Orange roughy x Macrourus berglax Roughhead grenadier (Rough rattail) Alfonsinos Coryphaenoides rupestris Roundnose grenadier Molva dypterigia Blue ling Mora moro Common mora Antimora rostrata Blue antimora (Blue hake) Pagellus bogaraveo Red (blackspot) seabream Phycis blennoides Greater Forkbeard Polyprion americanus Wreckfish Reinhardtius hippoglossoides Greenland halibut Cataetyx laticeps Hoplosthetus mediterraneus Silver roughy (Pink) Macrouridae Grenadiers (rattails) other than Coryphaenoides rupestris other than roundnose grenadier and and Macrourus berglax roughhead grenadier Nesiarchus nasutus Black gemfish Notocanthus chemnitzii Snubnosed spiny eel Raja fyllae Round skate Raja hyperborea Arctic skate Raja nidarosiensus Norwegian skate Trachyscorpia cristulata Spiny (deep-sea) scorpionfish Section 2: Species regulated in NEAFC in addition Brosme brosme Tusk Conger conger Conger eel Lepidopus caudatus Silver scabbard fish (Cutless fish) Lycodes esmarkii Greater Eelpout Molva molva Ling Species that are subject to regulation under NEAFC jurisdiction Brosme brosme Tusk Sebastes viviparus Small redfish (Norway haddock)
2013/09/17
Committee: PECH
Amendment 343 #

2012/0179(COD)

Proposal for a regulation
Annex 2 – point 3
3. Discards shall be sampled in all deep-sea métiers. The sampling strategy for landings and discards shall cover all the species listed in Annex I and Ia as well as species belonging to the seabed ecosystem such as deep-water corals, sponges or other organisms belonging to the same ecosystem.
2013/09/17
Committee: PECH
Amendment 344 #

2012/0179(COD)

Proposal for a regulation
Annex II a (new)
Annex IIa Identification of existing bottom fishing areas 1. The mapping of existing fishing areas within European Union waters shall be given priority. 2. A preliminary map based on VMS data and other geo reference data presently available with the European Commission and the Member States shall be developed. 3. Member States having vessels involved in bottom fishing activities in the period 2003 to 2013 shall, for the purpose of paragraph 1, submit comprehensive maps of existing fishing areas to the European Commission according to the guidelines set out in annex 3 of the NEAFC recommendation on regulating bottom fishing. 4. The comprehensive map of existing bottom fishing areas referred to in paragraphs 1 and 3 shall be revised regularly to incorporate any relevant information.
2013/09/17
Committee: PECH
Amendment 345 #

2012/0179(COD)

Proposal for a regulation
Annex II b (new)
Annex IIb Bottom fishing activities in new bottom fishing areas 1. Upon entry into force of this regulation, all bottom fishing activities in new bottom fishing areas or with bottom gear not previously used in the area concerned, shall be considered as exploratory fisheries and shall be conducted in accordance with an Exploratory Bottom Fisheries Protocol to be adopted as soon as possible. Until such a protocol is adopted the provision set out in the protocol set out in Annex 1 of the NEAFC recommendation on regulating bottom fishing shall apply. 2. The exploratory bottom fishing activities shall be subject to the assessment procedure set forth in Article 5 of the NEAFC recommendation on regulating bottom fishing, with the understanding that particular care shall be taken in the evaluation of risks of the significant adverse impact on vulnerable marine ecosystems, in line with the precautionary approach. 3. Member States shall communicate the required information under the exploratory fisheries protocol referred to in paragraph 1 to the European Commission, together with the information or preliminary impact assessment referred to in Article 5, paragraph 3 (i), below. 4. Member States shall provide 1 year after entry into force of this Regulation, a report of the results of such activities to the European Commission. 5. Prior to commencing new bottom fishing activities based upon the results of exploratory bottom fisheries conducted in the prior two years, the European Commission shall review the assessments undertaken in accordance with Article 5 below and the results of the fishing protocols implemented by the participating fleets, and shall: (i) Authorise these bottom fishing to proceed and establish conservation and management measures to prevent significant adverse impacts on vulnerable marine ecosystems from individual bottom fishing activities and to ensure the long- term sustainability of deep sea fish stocks, or (ii) not authorize these bottom fishing activities to proceed. 6. Member States shall ensure that vessels flying their flag conducting exploratory fisheries have an observer on board. Observers shall collect data in accordance with a Vulnerable Marine Ecosystem Data Collection Protocol to be adopted as soon as possible. Until such a protocol is adopted, the interim protocol set out in Annex 2 of the NEAFC recommendation on regulating bottom fishing shall apply.
2013/09/17
Committee: PECH
Amendment 131 #

2012/0175(COD)

Proposal for a directive
Recital 22
(22) It is important to guarantee a high level of professionalism and competence among insurance and reinsurance intermediaries and the employees of direct insurers who are involved in activities preparatory to, duringConsumers should be provided in advance with clear information about the status of the persons who sell the insurance product and afterbout the sales of insurance policies. Therefore, the professional knowledge of an intermediary, of the employees of direct insurers, and of car rental companies and travel agents, as wellremuneration which they receive. There is a need to introduce a mandatory status disclosure for European insurance intermediaries and insurance undertakings. This information should be given to the consumer ast the professional knowledge of persons carrying on the activities of the management of claims, loss adjusting or expert appraisal of claims needs to match the level of complexity of these activities. Continuing education should be ensurede- contractual stage. Its role is to make transparent the relationship between the insurance undertaking and the intermediary (where applicable) as well as the structure and the content of the intermediaries' remuneration.
2013/02/14
Committee: ECON
Amendment 141 #

2012/0175(COD)

Proposal for a directive
Recital 30
(30) Consumers should be provided in advance with clear information about the status of the persons who sell the insurance product and about the remuneration which they receive. There is a need to introduce a mandatory status disclosure for European insurance intermediaries and insurance undertakings. This information should be given to the consumer at the pre- contractual stage. Its role is to showmake the relationship between the insurance undertaking and the intermediary (where applicable) as well as the structure and the content of the intermediaries' remuneration more transparent.
2013/02/14
Committee: ECON
Amendment 151 #

2012/0175(COD)

Proposal for a directive
Recital 31
(31) In order to mitigate conflicts of interest between the seller and the buyer of an insurance product, it is necessary to ensure sufficient disclosure of remuneration of insurance distributors. Accordingly, for life insurance products, the intermediary and the employee of the insurance intermediary or the insurance undertaking should be obliged to inform the customer about its remuneration, in advance of the sale. For other insurance products, subject to a transitional period of 5 years, the customer must be informed of the customer's right to request this information, which must be provided to the customer upon request.
2013/02/14
Committee: ECON
Amendment 162 #

2012/0175(COD)

Proposal for a directive
Recital 37
(37) Prior to the conclusion of a contract, including in the case of non-advised sales, the customer should be given the relevant information about the insurance product to allow the customer to make an informed decision. The insurance intermediary should be able to explain to the customer the key features of the insurance products it sells and therefore its staff should be given appropriate resources and time to do so.
2013/02/14
Committee: ECON
Amendment 175 #

2012/0175(COD)

Proposal for a directive
Recital 47
(47) In order to detect potential breaches, the competent authorities should have the necessary investigatory powers, and should establish effective mechanisms to encourage reporting of potential or actual breaches which provide appropriate protection for those who denounce such breaches.
2013/02/14
Committee: ECON
Amendment 190 #

2012/0175(COD)

Proposal for a directive
Article 1 – paragraph 2
2. This Directive shall not apply to persons providing mediation services for insurance contracts if all the following conditions are met: (a) the insurance contract only requires knowledge of the insurance cover that is provided; (b) the insurance contract is not a life assurance contract; (c) the insurance contract does not cover any liability risks; (d) the principal professional activity of the person is other than insurance mediation; (e) the insurance is complementary to goods supplied by any provider, where such insurance covers the risk of breakdown, loss of or damage to the goods supplied by that provider ; (f) the amount of the annual premium for the insurance contract, when pro-rated to produce an annual amount, does not exceed EUR 600.deleted
2013/02/14
Committee: ECON
Amendment 222 #

2012/0175(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 9
9. ‘advice’ means the provision of a personal recommendation to a customer, either upon their request or at the initiative of the insurance undertaking or the insurance intermediary;
2013/02/14
Committee: ECON
Amendment 223 #

2012/0175(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 10
10. 'contingent commission' means a remuneration in the form of a commission where the amount payable is based on the achievement of agreedproduct or sales targets relating to the business placedactivities run by the intermediary with that insurer;
2013/02/14
Committee: ECON
Amendment 232 #

2012/0175(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 18
(18) 'remuneration' means any commission, fee, charge or other payment, including an economic benefit or inducement of any kind, offered, paid or given in connection with insurance mediation activities.
2013/02/14
Committee: ECON
Amendment 241 #

2012/0175(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 20 a (new)
(20a) for the purposes of Article 31a of this Directive, 'certain financial activities' means any activities at any stage during the entire production circle of an instrument from its design to its post-sale including the commitment and obligations by the issuer of the instrument.
2013/02/14
Committee: ECON
Amendment 242 #

2012/0175(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 20 b (new)
(20b) for the purposes of Article 31a of this Directive, 'an instrument' means an insurance or pension product falling with EIOPA's fields of competence as laid down in Regulation (EU) No 1094/2010.
2013/02/14
Committee: ECON
Amendment 248 #

2012/0175(COD)

Proposal for a directive
Article 3 – paragraph 1 – subparagraph 1
Except as provided in Article 4, insurance and reinsurance intermediaries shall be registered with a competent authority as defined in Article 7(2), in their home Member State. Insurance and reinsurance undertakings registered in Member States under Directive 73/239/EEC, Directive 2002/83/EC and Directive 2005/68/EC and their employees shall not be required to register again under this Directive.
2013/02/14
Committee: ECON
Amendment 261 #

2012/0175(COD)

Proposal for a directive
Article 3 – paragraph 5 a (new)
5a. Registered insurance and reinsurance intermediaries shall be allowed to take up and pursue the activity of insurance and reinsurance mediation in the Community by means of both freedom of establishment and freedom to provide services
2013/02/14
Committee: ECON
Amendment 286 #

2012/0175(COD)

Proposal for a directive
Article 4 – paragraph 4
4. Intermediaries who are subject to paragraphs 1 and 2 of this Article shall be subject to the provisions of Chapters I, III, IV, V, VIII, IX and Articles 15, 16, 17 and 168 of this Directive.
2013/02/14
Committee: ECON
Amendment 299 #

2012/0175(COD)

Proposal for a directive
Article 8 – paragraph 1 – subparagraph 2
Member States shall ensure that insurance and reinsurance intermediaries and members of staff of insurance undertakings carrying out insurance mediation activities regularly update their knowledge and ability appropriate to the function they are performing and the relevant market through continuing professional development in order to maintain an adequate level of performance. To that end, Member States shall have in place mechanisms to control, asses, and certify the knowledge and skills through independent bodies.
2013/02/14
Committee: ECON
Amendment 302 #

2012/0175(COD)

Proposal for a directive
Article 8 – paragraph 2 – subparagraph 1
Insurance and reinsurance intermediaries and members of staff of insurance undertakings carrying out insurance mediation activities shall be of good repute. As a minimum, theyose directly involved in the marketing or selling of the product shall have a clean police record or any other national equivalent in relation to serious criminal offences linked to crimes against property or other crimes related to financial activities and they should not have previously been declared bankrupt, unless they have been rehabilitated in accordance with national law.
2013/02/14
Committee: ECON
Amendment 317 #

2012/0175(COD)

Proposal for a directive
Article 8 – paragraph 8 – point a
(a) the notion of adequate knowledge and ability of the intermediary and members of staff of insurance undertakings when carrying on insurance mediation with its customers as referred to in paragraph 1 of this Article;
2013/02/14
Committee: ECON
Amendment 318 #

2012/0175(COD)

Proposal for a directive
Article 8 – paragraph 8 – point c
(c) the steps that insurance intermediaries and members of staff of insurance undertakings might reasonably be expected to take to update their knowledge and ability through continuing professional development in order to maintain an adequate level of performance.
2013/02/14
Committee: ECON
Amendment 323 #

2012/0175(COD)

Proposal for a directive
Article 10 – paragraph 3 – subparagraph 1 a (new)
1a. Such powers shall include, at least, the rights to: (a) have access to any document in any form whatsoever which would be relevant for the performance of the supervisory duties and to receive a copy of it; (b) demand information from any person and if necessary to summon and question a person with a view to obtaining information; (c) carry out on-site inspections including undercover ones;
2013/02/14
Committee: ECON
Amendment 356 #

2012/0175(COD)

Proposal for a directive
Article 16 – paragraph 1 – point a – point ii
(ii) whether or not it offers or provides any type of advice about the insurance products sold and the nature of such advice;
2013/02/14
Committee: ECON
Amendment 385 #

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 1 – point d
(d) the nature and amount of the remuneration received directly or indirectly in relation to the insurance contract;
2013/02/14
Committee: ECON
Amendment 388 #

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 1 – point e – introductory part
(e) whether in relation to the insurance contract and any proposed ancillary services or products, it works:
2013/02/14
Committee: ECON
Amendment 404 #

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 1 – point f a (new)
(fa) if the intermediary receives other kind of remuneration in connection with insurance mediation activities, the nature and the economic value of this remuneration;
2013/02/14
Committee: ECON
Amendment 439 #

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 3
3. The insurance undertaking or insurance intermediary shall also inform the customer about the nature and the basis of the calculation of any variable remuneration received by any employee of theirs for distributing and managing the insurance product in question as well as any proposed ancillary service or product.
2013/02/14
Committee: ECON
Amendment 446 #

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 4 a (new)
4a. Member States shall ensure that the manner in which an insurance intermediary or an insurance undertaking remunerates its staff, appoints representatives or other insurance intermediaries does not impede compliance with its obligation to act in the best interest of its clients referred to in Article 15 and shall require to take all reasonable steps to identify and manage conflicts of interest between themselves or any person directly or indirectly linked to them and their customers and to operate effective organisational and administrative arrangements to that purpose. Where such arrangements are not sufficient to with reasonable confidence that the existence of the conflict will be prevented, the insurance intermediary or the insurance undertaking shall refuse the business irrespective of any customer consent.
2013/02/14
Committee: ECON
Amendment 478 #

2012/0175(COD)

Proposal for a directive
Article 18 – paragraph 2 a (new)
2a. Member States shall ensure that where advice is provided, it should constitute a separate service from the selling of an insurance and that such a service can only be marketed as advice when: (a) the adviser has the appropriate professional competence; and (b) A separate charge for advice can only be made if the consumer has been informed of the requirement to pay a charge and of method used for its calculation.
2013/02/14
Committee: ECON
Amendment 480 #

2012/0175(COD)

Proposal for a directive
Article 18 – paragraph 3
3. When the insurance intermediary or the insurance undertaking inform the customer that it gives its advice on the basis of a fair analysisgives advice, it is obliged to give that advice on the basis of an analysis of a sufficiently large number of insurance contracts available on the market, to enable him it to make a personal recommendation in the best interest of the consumer, in accordance with professional criteria, regarding which insurance contract would be adequatmost suitable to meet the customer's needs.
2013/02/14
Committee: ECON
Amendment 489 #

2012/0175(COD)

Proposal for a directive
Article 18 – paragraph 4
4. Prior to the conclusion of a contract, whether or not advice is given, the insurance intermediary or insurance undertaking shall give the customer the relevant information about the insurance product in an easily comprehensible formand clear form on a key information document to allow the customer to make an informed decision, while taking into account the complexity of the insurance product and the type of costumer.
2013/02/14
Committee: ECON
Amendment 491 #

2012/0175(COD)

Proposal for a directive
Article 18 – paragraph 4 a (new)
4a. The European Commission shall put forward a report on the application of paragraph 4 to the European Parliament and the Council by X.X.20XX [one year after entry into force of the Directive], and if appropriate a legislative proposal taking into account the provisions of the regulation of the European Parliament and of the Council on the proposal on key information documents for investment products (COM (2012) 352.
2013/02/14
Committee: ECON
Amendment 511 #

2012/0175(COD)

Proposal for a directive
Article 21 – paragraph 2
2. When an insurance service or product is offered together with any other service or product as a package, the insurance undertaking or, where applicable, the insurance intermediary shall offer and inform the customer that it is possible to buy the components of the package separately and shall offer this possibility and provide information of the costs and charges of each component of the package that may be bought through or from it separately.
2013/02/14
Committee: ECON
Amendment 653 #

2012/0175(COD)

Proposal for a directive
Article 30 – paragraph 1
1. Member States shall ensure that the competent authorities establish effective mechanisms to encourage reporting of potential or actual breaches of national provisions implementing this Directive to the competent authorities.
2013/02/14
Committee: ECON
Amendment 654 #

2012/0175(COD)

Proposal for a directive
Article 30 – paragraph 2 – point b
(b) appropriate protection for employees of insurance or reinsurance undertakings or intermediaries who denounce, including anonymity where appropriate, for those who denounce the commission of breaches committed within them; and
2013/02/14
Committee: ECON
Amendment 657 #

2012/0175(COD)

Proposal for a directive
Article 31 a (new)
Article 31a EIOPA powers to temporarily intervene 1. In accordance with Article 9(5) of Regulation (EU) No 1094/2010, EIOPA may where the conditions in paragraphs 2 and 3 are fulfilled, temporarily prohibit or restrict in the Union: (a) the design, marketing, distribution or sale of certain financial activities; or (b) a type of financial activity or practice. A temporary prohibition or restriction may apply in circumstances, or be subject to exceptions, specified by EIOPA. 2. EIOPA shall only take a decision under paragraph 1 if all of the following conditions are fulfilled: (a) the proposed action addresses a significant consumer protection concern or threat to the orderly functioning and integrity of financial markets or to the stability of the whole or part of the financial system in the Union; (b) regulatory requirements under Union legislation that are applicable to the relevant instrument or activity do not address the threat; 3. When taking action under this Article, EIOPA shall ensure that the action: (a) does not have a detrimental effect on the efficiency of financial markets or on policyholders that is disproportionate to the benefits of the action; and (b) does not create a risk of regulatory arbitrage. 4. Before deciding to take any action under this Article, EIOPA shall notify competent authorities of the action it proposes. 5. EIOPA shall publish on its website notice of any decision to take any action under this Article. The notice shall specify details of the temporary prohibition or restriction and specify a time after the publication of the notice from which the measures will take effect. A temporary prohibition or restriction shall only apply to action taken after the measures take effect. 6. EIOPA shall review a temporary prohibition or restriction imposed under paragraph 1 at appropriate intervals and at least every three months. If the prohibition or restriction is not renewed after that three month period it shall expire. 7. Action adopted by EIOPA under this Article shall prevail over any previous action taken by a competent authority. 8. The Commission shall adopt, by means of delegated acts, measures specifying criteria and factors determining when a significant consumer protection concern or a threat to the orderly functioning and integrity of financial markets and to the stability of the whole or part of the financial system of the Union referred to in paragraph 2(a) arise. These factors and criteria shall include: - the degree of complexity of an instrument and the relation to the type of client to whom it is marketed and sold, - the degree of innovation of an instrument, an activity or a practice, - the leverage a product or practice provides.
2013/02/14
Committee: ECON
Amendment 144 #

2012/0029(COD)

Proposal for a regulation
Recital 12
(12) In order to ensure the safety of settlement, any participant to a securities settlement system buying or selling certain financial instruments, namely transferable securities, money-market instruments, units in collective investment undertakings and emission allowances, should settle its obligation on the intended settlement due date.
2012/11/12
Committee: ECON
Amendment 147 #

2012/0029(COD)

Proposal for a regulation
Recital 13
(13) Longer settlement periods of transactions in transferable securities cause uncertainty and increased risk for securities settlement systems participants. Different durations of settlement periods across Member States hamper reconciliation and are sources of errors for issuers, investors and intermediaries. It is therefore necessary to provide a common settlement period which would facilitate the identification of the intended settlement due date and facilitate the implementation of settlement discipline measures. The intended settlement due date of transactions in transferable securities which are admitted to trading on trading venues regulated by Directive 2004/39/EC should be no later than on the second business day after the trading takes place.
2012/11/12
Committee: ECON
Amendment 148 #

2012/0029(COD)

Proposal for a regulation
Recital 15
(15) One of the most efficient ways to address settlement fails is to require failing participants to be subject to a buy-in, whereby the securities which ought to be delivered must be bought in the market after the intended settlement due date and delivered to the receiving participant. This Regulation should provide for uniform rules concerning certain aspects of the buy- in transaction for all transferable securities, money-market instruments, units in collective investment undertakings and emission allowances, such as the timing, notice period, pricing and penalties.
2012/11/12
Committee: ECON
Amendment 197 #

2012/0029(COD)

Proposal for a regulation
Article 1 – paragraph 1
1. This Regulation lays down uniform requirements for the settlement of financial instruments in the Union and rules on the organisation and conduct of central securities depositories to promote safe, transparent, efficient and smooth settlement.
2012/11/12
Committee: ECON
Amendment 202 #

2012/0029(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. Articles 9 to 18 and 20 as well as the provisions of Title IV do not apply to the members of the European System of Central Banks (ESCB), other Member States' national bodies performing similar functions, Union bodies or Member States' public bodies charged with or intervening in the management of the public debt.
2012/11/12
Committee: ECON
Amendment 204 #

2012/0029(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 1
(1) 'central securities depository' ('CSD') means a legal person that operates a securities settlement system listed in point 3 of Section A of the Annex and, performs at least one oll ther core services listed in Section A of the Annex and provides services according to this Regulation;
2012/11/12
Committee: ECON
Amendment 210 #

2012/0029(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 2
(2) 'settlement' means the completion of a securities transaction with the aim offormalising the rights and discharging the obligations of participants through the transfer of funds or, securities or both to end investors;
2012/11/12
Committee: ECON
Amendment 212 #

2012/0029(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 3
(3) ‘securities settlement system’ means a system under the first and second indents of point (a) of Article 2 of Directive 98/26/EC whose businessactivity consists of the execution of transfer orders as defined in the second indent of point (i) of Article 2 of Directive 98/26/EC;
2012/11/12
Committee: ECON
Amendment 214 #

2012/0029(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 4
(4) ‘settlement period’ means the time period between the trade date and the intended settlement due date;
2012/11/12
Committee: ECON
Amendment 216 #

2012/0029(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 6
(6) ‘settlement fail’ means the non- occurrence of settlement of a securities transaction on the intended settlement date due to a lack of securities or cash,ue date regardless of the underlying cause;
2012/11/12
Committee: ECON
Amendment 217 #

2012/0029(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 7
(7) ‘intended 'settlement due date' means the date on which the parties to a securities transaction agree that settlement is to take place;
2012/11/12
Committee: ECON
Amendment 218 #

2012/0029(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 8
(8) ‘central counterparty (CCP)’ means an entity legal person that interposes itself between the counterparties to the contracts traded within one or more financial markets, becoming the buyer to every seller and the seller to every buyer and which provides services in accordance with the Regulation (EU) No 648/2012;
2012/11/12
Committee: ECON
Amendment 219 #

2012/0029(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 9
(9) ‘competent authority’ means the authority designated by each Member State in accordance with Article 10 and ESMA for the tasks conferred upon it by Regulation (EU) No 1095/2010 and this Regulation;
2012/11/12
Committee: ECON
Amendment 221 #

2012/0029(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 17
(17) ‘delivery versus payment’ (‘DVP’) means a securities settlement mechanism which links a transfer of securities with a transfer of funds in a way that the delivery of securities occurs only ifagainst the corresponding payment occurs;
2012/11/12
Committee: ECON
Amendment 236 #

2012/0029(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 31 a (new)
(31 a) 'end investor' means a single or joint natural or legal person that holds or transfers securities as a consequence of legal transactions with a securities account provider for its own account;
2012/11/12
Committee: ECON
Amendment 240 #

2012/0029(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 31 b (new)
(31 b) 'SME growth market' means an SME growth market within the meaning of Article 4 of Directive .../.../EU of the European Parliament and of the Council [new MiFID];
2012/11/12
Committee: ECON
Amendment 242 #

2012/0029(COD)

Proposal for a regulation
Title 2 – chapter 1 – title
Book-entry formSettlement conditions
2012/11/12
Committee: ECON
Amendment 247 #

2012/0029(COD)

Proposal for a regulation
Article 3 – paragraph 2
2. Where the securities referred to in paragraph 1 are traded on regulated markets, traded on multilateral trading facilities (MTFs) or organised trading facilities (OTFs) or are transferred following a financial collateral arrangement as defined in point (a) of Article 2 of Directive 2002/47/EC, those securities shall be recorded in book-entry form in a CSD prior to the trade date, unless they have already been so recorded.
2012/11/12
Committee: ECON
Amendment 248 #

2012/0029(COD)

Proposal for a regulation
Article 3 – paragraph 2 a (new)
2 a. Without prejudice to paragraphs 1 and 2, the securities settlement system shall ensure that the holders of securities may request and obtain a written record of their securities holdings. Such paper certificates issued shall indicate a simple electronic procedure to verify over time if its content remains valid. In any case the settlement system must establish workable procedures to ensure that the holders of securities may verify the position of their holdings.
2012/11/12
Committee: ECON
Amendment 250 #

2012/0029(COD)

Proposal for a regulation
Article 4 – paragraph 2
2. The authorities competent to check that the securities are admitted to trading and for the supervision of the regulated markets, MTFs and OTFs shall ensure that Article 3(2) is applied when the securities referred to in Article 3(1) are traded on regulated markets, MTFs or OTFs.
2012/11/12
Committee: ECON
Amendment 252 #

2012/0029(COD)

Proposal for a regulation
Title 2 – chapter 2 – title
Settlement perovisiodns
2012/11/12
Committee: ECON
Amendment 253 #

2012/0029(COD)

Proposal for a regulation
Article 5 – title
IntendeObligations to participants and settlement due dates
2012/11/12
Committee: ECON
Amendment 255 #

2012/0029(COD)

Proposal for a regulation
Article 5 – paragraph 1
1. Any participant to a securities settlement system buying or selsettling on its own account or on behalf of a third party transferable securities, money-market instruments, units in collective investment undertakings and emission allowances shall settle its obligation in relation to the securities settlement system on the intended settlement dateto end investors on the settlement due date using a standardised trade process and reporting their activities to the competent authorities.
2012/11/12
Committee: ECON
Amendment 260 #

2012/0029(COD)

Proposal for a regulation
Article 5 – paragraph 2
2. As regards transferable securities referred to in paragraph 1 which are traded on regulated markets, MTFs or OTFs, the intended settlement due date shall be no later than on the second business day after the trading takes place.
2012/11/12
Committee: ECON
Amendment 264 #

2012/0029(COD)

Proposal for a regulation
Article 5 – paragraph 3
3. The relevant authority of the Member State whose law applies to the securities settlement system operated by a CSD shall be competent for ensuring that paragraphs 1 and 2 are appliedcompleting the implementation in accordance with the paragraphs 1 to 4.
2012/11/12
Committee: ECON
Amendment 265 #

2012/0029(COD)

Proposal for a regulation
Article 5 – paragraph 3 b (new)
3 b. The relevant authority of the Member State whose law applies to the securities settlement system operated by a CSD shall be competent for completing the implementation in accordance with the paragraphs 1 to 4.
2012/11/12
Committee: ECON
Amendment 266 #

2012/0029(COD)

Proposal for a regulation
Article 5 – paragraph 3
3. The relevant authority of the Member State whose law applies to the securities settlement system operated by a CSD shall be competent for ensuring thatEuropean Securities and Markets Authority (ESMA) shall develop in consultation with the members of the European System of Central Banks (ESCB) draft regulatory technical standards to specify the details of the standardised trade process to settle the obligations of participants referred to in paragraphs 1 and 2 are applied.
2012/11/12
Committee: ECON
Amendment 267 #

2012/0029(COD)

Proposal for a regulation
Article 5 – paragraph 3 a (new)
3 a. ESMA shall submit those draft regulatory technical standards to the Commission by [six months from the date of entry into force of this Regulation]. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with the procedure laid down in Articles 10 to 14 of Regulation (EU) No 1095/2010.
2012/11/12
Committee: ECON
Amendment 268 #

2012/0029(COD)

Proposal for a regulation
Article 5 – paragraph 3 a (new)
3 a. ESMA shall develop draft implementing technical standards to determine format and timing of the reporting referred to in paragraph 1 reflecting the regulatory technical standards referred to in paragraph 3. Power is conferred on the Commission to adopt the implementing technical standards referred to in the first subparagraph in accordance with Article 15 of Regulation (EU) No 1095/2010 ESMA shall submit those draft implementing technical standards to the Commission by [6 months from the entry into force of the regulatory technical standards].
2012/11/12
Committee: ECON
Amendment 273 #

2012/0029(COD)

Proposal for a regulation
Article 6 – paragraph 2
2. For each securities settlement system it operates, a CSD shall establish standardised procedures that facilitate the settlements of transactions in financial instruments referred to in Article 5(1) on the intended settlement date. It shall promote early settlement on the intended settlement date through appropriate mechanisms, such as a progressive tariff structureue date and shall have in place mechanisms to promote faster settlement.
2012/11/12
Committee: ECON
Amendment 276 #

2012/0029(COD)

Proposal for a regulation
Article 6 – paragraph 3
3. For each securities settlement system it operates, a CSD shall establish monitoring tools that allow it to identify in advance settlements of transactions in financial instruments referred to in Article 5(1) that are most likely to fail and it shall require participants to settle such transactions on the intended settlement due date.
2012/11/12
Committee: ECON
Amendment 285 #

2012/0029(COD)

Proposal for a regulation
Article 7 – paragraph 2
2. For each securities settlement system it operates, a CSD shall establish procedures that facilitate settlement of transactions in financial instruments referred to in Article 5(1) that are not settled on the intended settlement due date. These procedures shall provide for a sufficientlyeffective deterrent penalty mechanism for participants that cause the settlement fails.
2012/11/12
Committee: ECON
Amendment 286 #

2012/0029(COD)

Proposal for a regulation
Article 7 – paragraph 3
3. A participant to a securities settlement system that fails to deliver the financial instruments referred to in Article 5(1) to the receiving participant on the intended settlement due date shall be subject to a buy-in whereby those instruments shall be bought in the market no later than four days after the intendedtwo days, or four days for financial instruments that are admitted to trading on an SME growth market, after the settlement due date and delivered to that receiving participant and other measures in accordance with paragraph 4.
2012/11/12
Committee: ECON
Amendment 288 #

2012/0029(COD)

Proposal for a regulation
Article 7 – paragraph 4 – point a
(a) the daily penalty paid by the defaulting participant for each business day between the intended settlement due date and the actual settlement date;
2012/11/12
Committee: ECON
Amendment 290 #

2012/0029(COD)

Proposal for a regulation
Article 7 – paragraph 6
6. CSDs, CCPs, regulated markets, MTFs and OTFs shall establish procedures that enable them to suspend any participant that fails systematically to deliver the financial instruments referred to in paragraph 1 or cash on the intended settlement due date and to disclose to the public and report to the European Securities and Markets Authority (ESMA) and to the European System of Central Banks (ESCB) its identity only after giving that participant the opportunity to submit its observations.
2012/11/12
Committee: ECON
Amendment 306 #

2012/0029(COD)

Proposal for a regulation
Article 8 – paragraph 2
2. In order to ensure consistent, efficient and effective supervisory practices within the Union in relation to Articles 6 and 7 of this Regulation, ESMA in consultation with the members of the European System of Central Banks (ESCB) may issue guidelines in accordance with Article 16 of Regulation (EU) No 1095/2010.
2012/11/12
Committee: ECON
Amendment 307 #

2012/0029(COD)

Proposal for a regulation
Article 9 – paragraph 1
AWithout prejudice to the monitoring tasks of the ESCB and of the Eurosystem associated to the TARGET2-Securities and to the tasks conferred on ESMA by Regulation (EU) No 1095/2010 and by this Regulation, a CSD shall be authorised and supervised by the competent authority of the Member State where it is established.
2012/11/12
Committee: ECON
Amendment 308 #

2012/0029(COD)

Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 1
Each Member State shall designate the competent authority responsible for carrying out the duties under this Regulation for the authorisation and supervision of CSDs established in its territory and shall inform ESMA and the ESCB thereof.
2012/11/12
Committee: ECON
Amendment 309 #

2012/0029(COD)

Proposal for a regulation
Article 11 – paragraph 1 – point a
(a) the authority responsible for the oversight of the securities settlement system operated by the CSD in the Member State whose law applies to that securities settlement system;
2012/11/12
Committee: ECON
Amendment 310 #

2012/0029(COD)

Proposal for a regulation
Article 11 – paragraph 1 – point a a (new)
(a a) the authority or authorities responsible for the oversight of the securities settlement system in the Member States where the CSD operates;
2012/11/12
Committee: ECON
Amendment 319 #

2012/0029(COD)

Proposal for a regulation
Article 13 – title
ERole of ESMA in breach of law, settlement of disagreements and emergency situations
2012/11/12
Committee: ECON
Amendment 322 #

2012/0029(COD)

Proposal for a regulation
Article 13 – paragraph 1
The authorities referred to in Articles 9 and 11 shall immediately inform ESMA and each other of any emergency situation relating to a CSD, including of any developments in financial markets, which may have an adverse effect on market liquidity and on the stability of the financial system in any of the Member States where the CSD or one of its participants are establishedthis Chapter may ask ESMA to exercise its powers conferred to it under Articles 17, 18, 19 and 20 of Regulation (EU) 1095/2010 and to otherwise enforce this Regulation.
2012/11/12
Committee: ECON
Amendment 325 #

2012/0029(COD)

Proposal for a regulation
Article 14 – paragraph 2
2. The authorisation shall cover all the services in Section A of the Annex and specify the services set out in Sections A and B of the Annex, which the CSD is authorised to provide.
2012/11/12
Committee: ECON
Amendment 339 #

2012/0029(COD)

Proposal for a regulation
Article 17 – paragraph 1 a (new)
1 a. Each CSD which seeks to set up a standard link access shall notify it to the respective competent authority of the Member States where it is established.
2012/11/12
Committee: ECON
Amendment 344 #

2012/0029(COD)

Proposal for a regulation
Article 17 – paragraph 1 – point d
(d) setting up any CSDinteroperability link.
2012/11/12
Committee: ECON
Amendment 417 #

2012/0029(COD)

Proposal for a regulation
Article 26 – paragraph 1
1. A CSD shall establish user committees for each securities settlement system it operates, which shall be composed of representatives of issuers and of, participants to such securities settlement systems and different types of securities holders. The advice of the user committee shall be independent from any direct influence by the management of the CSD.
2012/11/12
Committee: ECON
Amendment 419 #

2012/0029(COD)

Proposal for a regulation
Article 26 – paragraph 4
4. Without prejudice to the right of competent authorities to be duly informed, the members of the user committees shall be bound by confidentiality on the aspects that do not affect the settlement conditions. Where the chairman of a user committee determines that a member has an actual or a potential conflict of interest on a particular matter, that member shall not be allowed to discuss or to vote on that matter.
2012/11/12
Committee: ECON
Amendment 421 #

2012/0029(COD)

Proposal for a regulation
Article 27 – paragraph 1
1. A CSD shall maintain, for a period of at least five years, all the records on the services and activity provided so as to enable the competent authority to monitor the compliance with the requirements under this Regulation. It shall do so for a period of at least five years. This period shall be automatically extended where a competent authority opens an investigation to ensure that affected records are maintained until such investigation has been concluded.
2012/11/12
Committee: ECON
Amendment 422 #

2012/0029(COD)

Proposal for a regulation
Article 27 – paragraph 2
2. A CSD shall make the records referred to in paragraph 1 available upon request to the competent authority and the relevant authorities referred to in Article 11, ESMA or another EU or Member State public authority with legal powers directly related to the records for the purpose of fulfilling their mandates.
2012/11/12
Committee: ECON
Amendment 448 #

2012/0029(COD)

Proposal for a regulation
Article 35 – paragraph 3
3. A CSD shall offer to keep records and accounts enabling a participant to distinguish the securities of each of that participant’s clients, if and as required by that participant (‘individual client segregation’).
2012/11/12
Committee: ECON
Amendment 455 #

2012/0029(COD)

Proposal for a regulation
Article 35 – paragraph 5
5. A CSD shall not use the securities of a participant for any purpose unless it has obtained previously and case by case that participant’s express consent.
2012/11/12
Committee: ECON
Amendment 459 #

2012/0029(COD)

Proposal for a regulation
Article 36 – paragraph 6
6. A CSD shall achieve settlement finality no later than by the end of the business day of the intended settlement due date. Upon demand by its user committee, it shall install systems that allow for intraday or real-time settlement.
2012/11/12
Committee: ECON
Amendment 460 #

2012/0029(COD)

Proposal for a regulation
Article 36 – paragraph 7
7. The cash proceeds of securities settlements shall be available for recipients to use no later than by the end of the business day of the intended settlement due date.
2012/11/12
Committee: ECON
Amendment 487 #

2012/0029(COD)

Proposal for a regulation
Article 45 – paragraph 2
2. LInteroperability link arrangements shall be submitted to authorisation as required under point (d) of Article 17(1).
2012/11/12
Committee: ECON
Amendment 530 #

2012/0029(COD)

Proposal for a regulation
Article 52 – paragraph 1 a (new)
1 a. A credit institution shall only obtain an authorisation to provide the banking type of ancillary services listed in Section C of the Annex if this is its exclusive activity and it does not carry out other banking or CSD services.
2012/11/12
Committee: ECON
Amendment 537 #

2012/0029(COD)

Proposal for a regulation
Article 52 – paragraph 2
2. By way of derogation from paragraph 1, when a national competent authority referred to in Article 53(1) of this Regulation is satisfied that a CSD has all the necessary safeguards in place to allow it to exercise ancillary services, the competent authority may submit a request to the Commission to allow this CSD also to carry out the ancillary services set out in Section C of the Annex. This request shall include: (a) evidence justifying the request, explaining in detail the arrangements the CSD has put in place to deal with all associated risks; (b) a reasoned assessment that this solution is the most effective means to ensure systemic resilience; (c) an analysis of the expected impact on the relevant financial market and financial stability. Following a detailed impact assessment, a consultation of the undertakings concerned and after taking into account the opinions of the EBA, the ESMA and the ECB, the Commission shall adopt an implementing decision in accordance with the procedure referred to in Article 66. The Commission shall give reasons for its implementing decision. A CSD which benefits from a derogation shall be authorised as a credit institution as provided in Title II of Directive 2006/48/EC. This authorisation shall be limited exclusively to the provision of the banking type of ancillary services that it is authorised to provide in accordance with paragraph 4 and shall imply the fulfilment of the prudential and supervision requirements provided in Article 57 and 58.deleted
2012/11/12
Committee: ECON
Amendment 563 #

2012/0029(COD)

Proposal for a regulation
Article 52 – paragraph 3
3. A CSD that intends to settle the cash leg of all or part of its securities settlement system in accordance with Article 37(2) of this Regulation shall obtain authorisation to designate for this purpose an, through a transparent, open and objective call, one or several authorised credit institutions as provided in Title II of Directive 2006/48/EC, unless the competent authority referred to in Article 53(1) of this Regulation demonstrates, based on the available evidence, that the exposure of one credit institution to the concentration of risks under Article 57(3) and (4) of this Regulation is not sufficiently mitigated. In the latter case, the competent authority referred to in Article 53(1) may require the CSD to designate more than one credit institution. The designated credit institutions shall be considered as settlement agents.
2012/11/12
Committee: ECON
Amendment 593 #

2012/0029(COD)

Proposal for a regulation
Article 53 – paragraph 4 – point b a (new)
(b a) ESMA;
2012/11/12
Committee: ECON
Amendment 594 #

2012/0029(COD)

Proposal for a regulation
Article 53 – paragraph 4 – point b b (new)
(b b) EBA.
2012/11/12
Committee: ECON
Amendment 641 #

2012/0029(COD)

Proposal for a regulation
Article 67 – paragraph 1
1. Institutions that have been providing services listed in the Annex before the entry into force of this Regulation and have notified to ESMA as CSDs under the conditions set out under Article 19(4) shall seekobtain all authorisations that are necessary for the purposes of this Regulation within two years from the date of entry into force of this Regulationbefore 1 January 2015.
2012/11/12
Committee: ECON
Amendment 642 #

2012/0029(COD)

Proposal for a regulation
Article 67 – paragraph 2
2. Within two years from the date of entry into force of this Regulation, a CSDBy 1 January 2015, an institution providing CSD services as listed in Annex 1 established in a third country shall seekobtain either all authorisations from the competent authority of the Member State in which the CSD provides its services where it intends to establish and provide its services on the basis of Article 14, or recognition from ESMA where it intends to provide its services on the basis of Article 23.
2012/11/12
Committee: ECON
Amendment 647 #

2012/0029(COD)

Proposal for a regulation
Article 70 – paragraph 3 – subparagraph 1
Article 3(1) shall apply from 1 January 202015.
2012/11/12
Committee: ECON
Amendment 648 #

2012/0029(COD)

Proposal for a regulation
Annex 1 – heading 1
Part I. List of CSD Services
2012/11/12
Committee: ECON
Amendment 665 #

2012/0029(COD)

Proposal for a regulation
Annex 1 – section C – title
BPart II. List of banking type of ancillary services related to securities settlement
2012/11/12
Committee: ECON
Amendment 1 #

2011/2323(INI)

Draft opinion
Paragraph 1
1. Points out that in the area of financial services the regulations on the European Supervisory Authorities (ESAs)1 introduce regulatory technical standards (RTS) and implementing technical standards (ITS) under which ESAs submit draft RTS and ITS to the Commission for adoption; takes the view that, given the technical expertise and specialist skills of the ESAs, delegation should take the form of RTS rather than ordinary delegated acts wherever possible; considers that also before the Commission adopts a delegated act it should alwaysadopting ordinary delegated acts the Commission should seek technical advice from the relevant ESA on the content of thatose acts;
2013/09/05
Committee: ECON
Amendment 2 #

2011/2323(INI)

Draft opinion
Paragraph 1 a (new)
1 a. Emphasises that the choice of the correct legal instrument (legislative, delegated or implementing act or delegated act based on RTS) is not only a technical question; points out that in fact it is of the utmost importance to ensure that the legislature assumes full responsibility with regard to the essential elements and to the effective scrutiny of political decisions; notes that it can also be of considerable importance for the balance of power, the correctness and proper functioning of the decision- making process and the enforcement of policies that these various instruments are used in a way that complies with the criteria set out in the Treaty; stresses that the European Parliament should consequently pay particular attention to these aspects;
2013/09/05
Committee: ECON
Amendment 3 #

2011/2323(INI)

Draft opinion
Paragraph 2
2. Stresses that the co-legislators should always aim to clarify and frame the purpose and necessity of any delegation in the level 1 text, in particular with regard to setregulating outall essential policy choices which they wishelements and setting out the other aspects to sebe developed at the technical level; (Article 290 TFEU explicitly states that delegated acts can only supplement or amend non-essential elements of the legislative act)
2013/09/05
Committee: ECON
Amendment 4 #

2011/2323(INI)

Draft opinion
Paragraph 2 a (new)
2 a. Proposes that, in each parliamentary committee, the Chair, one of the Vice- Chairs or a relevant Member should be charged with supporting Members and guaranteeing coherence regarding delegated and implementing acts in coordination with the other committees; points out that the rapporteur for the basic act should automatically become the rapporteur for its follow-up and should report periodically to the committee;
2013/09/05
Committee: ECON
Amendment 6 #

2011/2323(INI)

Draft opinion
Paragraph 4
4. Emphasises that Parliament and Member StatesCouncil should be fully informed of the timeline and of the content of envisaged delegated measures; takes the view that the intention to endorse or reject a draft RTS or delegated act should be sent in writing to the Chair of Parliament's competent committee and to the rapporteur, giving reasons; holds that in the case of delegated acts the Commission must likewise inform Parliament and the Member States when it does not intend to follow ESA advice, specifying where and why it has chosen not to do so, and including where appropriate the result of public consultations and cost-benefit and legal analysis to support its decision; considers that there should be full transparency vis-à-vis all stakeholders on progress; observes that the Commission's interpretation of the Framework Agreement2 sometimes makes it difficult and cumbersome for Parliament experts to attend expert group meetings dealing with delegated acts and means that Parliament is not placed on an equal footing with Member States and the Council;
2013/09/05
Committee: ECON
Amendment 10 #

2011/2323(INI)

Draft opinion
Paragraph 5
5. Points out that in the recently adopted Capital Requirements Regulation (CRR) and Capital Requirements Directive (CRD) the time period for scrutinising RTS may be extended by a further month given their volume and complexity, and considers that this kind of flexibility should become a general rule; considers that deadlines for objections by Parliament to delegated acts adopted by the Commission need to be sufficiently long to allow for the full exercise of Parliament's rights of scrutiny, taking into account the plenary calendar and workload; takes the view that the standard deadline of two months, extendable by two months, as provided for the in the Common Understanding is not sufficiently long for complex matters and extensive delegated acts, which call for a longer scrutiny period to be set; recalls that the co-legislator has full discretion regarding the period of scrutiny to be set in the basic act; stresses, in this regard, that where the Common Understanding provides guidelines in relation to deadlines, it is in no way binding and therefore does not limit the legislator in this respect; points out that the legislator has set a period of scrutiny of three months, extendable by three months, for all delegated acts in the area of financial services, and considers that this practice should be extended to other areas of a complex nature;
2013/09/05
Committee: ECON
Amendment 11 #

2011/2323(INI)

Draft opinion
Paragraph 6
6. Stresses that Parliament's recess periods during the summer break and at the end of the year, along with the end of the parliamentary term, need to be taken into account in the calendar for the adoption of delegated acts, so as to avoid situations where Parliament cannot exercise its scrutiny on account of a recess period or the end of the parliamentary term; considers that appropriate provisions to that effect should be included in the provisions empowering the Commission to adopt delegated acts; emphasises that the arrangements according to which no delegated act may be submitted during Parliament's recess periods should also apply to RTS; observes that, as an objection requires an absolute majority, votes in plenary on an objection to a delegated act should not take place on the Thursday of a Strasbourg plenary week, as an objection requires an absolute majoritybe carefully scheduled ;
2013/09/05
Committee: ECON
Amendment 13 #

2011/2323(INI)

Draft opinion
Paragraph 7
7. Considers it essfundamential that procedures and measures are put in place to coverduring the 2014 election period, when a number of RTS and delegated acts will need to be adopted, in particular on the recently adopted CRR legislation;
2013/09/05
Committee: ECON
Amendment 15 #

2011/2323(INI)

Draft opinion
Paragraph 8
8. Considers that it may also be necessary for ESAswhen ESAs need to be granted further time for consultation and for the development of RTS; takes the view, in this respect, that they should address Parliament's competent committee should be kept informeding of the reasons for the delay and the futureand of their foreseen timeline for adoption;
2013/09/05
Committee: ECON
Amendment 1 #

2011/2318(INI)

Motion for a resolution
Citation 7 bis (new)
- having regard to the FAO Report on the State of the World Fisheries and Aquaculture 2010,
2012/05/08
Committee: PECH
Amendment 4 #

2011/2318(INI)

Motion for a resolution
Citation 14 bis (new)
- having regard to the conclusions adopted at the meeting of the Agriculture and Fisheries Council on 19–20 March 2012 on the external dimension of the CFP,
2012/05/08
Committee: PECH
Amendment 5 #

2011/2318(INI)

Motion for a resolution
Recital -1 (new)
-1. whereas the 1982 United Nations Convention on the Law of the Sea (Unclos) must be the permanent basis for the Common Fisheries Policy, particularly where it concerns the international management of fisheries;
2012/05/08
Committee: PECH
Amendment 6 #

2011/2318(INI)

Motion for a resolution
Recital -1 bis (new)
-1a. whereas two-thirds of the world’s oceans lie outside national jurisdictions and there are no exhaustive policies for regulating international waters and that the current laws are fragmentary, being largely based on the principles of freedom of the sea dating from the 17th century;
2012/05/08
Committee: PECH
Amendment 7 #

2011/2318(INI)

Motion for a resolution
Recital -1 ter (new)
-1b. whereas fisheries are of strategic importance for the social and economic welfare of coastal communities, aside from the considerable contribution they make in terms of development, employment and the public supply of fresh fish and seafood in the interests of preserving dietary balance throughout the European Union;
2012/05/08
Committee: PECH
Amendment 8 #

2011/2318(INI)

Motion for a resolution
Recital A
A. whereas 85 % of fish stocks globally for which information is available are either fully exploited or overexploited, according to the most recent assessment by the FAO, despite the progress mentioned that is being made on a global scale in reducing ratios of exploitation and the recovery of overexploited stocks and marine ecosystems, through effective management actions;
2012/05/08
Committee: PECH
Amendment 12 #

2011/2318(INI)

Motion for a resolution
Recital B
B. whereas the EU is one of the few players that has a strong presence in all the world’s oceans throughmain fishing players in the world, boasting a strong and historic presence and significant activity in all the world’s oceans through the efforts of its fleet, the entrepreneurial spirit of its businesses, investments, bilateral fisheries agreements and participation in all of the major Regional Fisheries Management Organisations (RFMOs);
2012/05/08
Committee: PECH
Amendment 16 #

2011/2318(INI)

Motion for a resolution
Recital C
C. whereas the EU is a majorone of the most important markets for fishery products – fish caught by EU fleets as well as imports -and the biggest importer in the world of fish products, consuming 11 % of the world’s fish production in terms of volume and importing 24 % of fishery products in terms of value,; even though it only accounts for 8 % of the world’s catch (2 % when considering solely foreign waters);
2012/05/08
Committee: PECH
Amendment 21 #

2011/2318(INI)

Motion for a resolution
Recital D
D. whereas quotas in RFMOs are primarily based on the development of historical catches, for which maintains preferential access for developed countries to global fish stocks; reason they are awarded by taking into account the preferential access to global fish stocks of developed countries that have carried out more international fishing activity;
2012/05/08
Committee: PECH
Amendment 25 #

2011/2318(INI)

Motion for a resolution
Recital E
E. whereas the EU has to seek policy coherence for development on the basis ofcoherence among all of its policies, particularly those such as fishing and related activities whose foreign dimension makes a contribution to developing common foreign policy objectives and the fulfilment of the 2020 European Strategy, which also entails coherence with the policy for development, in accordance with Article 208(1), of the TFEU according to which ‘The Union shall take account of the objectives of development cooperation in the policies that it implements which are likely to affect developing countries’;
2012/05/08
Committee: PECH
Amendment 29 #

2011/2318(INI)

Motion for a resolution
Recital F
F. whereas there is in many cases insufficient data on fish stocks that the EU is fishing, or which are destined for the internal market, in terms of their status and of total removals by local fleets and other third country fleets to further the development of sustainable fishing, trade and consumption;
2012/05/08
Committee: PECH
Amendment 33 #

2011/2318(INI)

Motion for a resolution
Recital F bis (new)
Fa. whereas rigorous scientific studies will be required in order to determine in which fisheries fleet overcapacity is occuring or may occur, studies which must be accompanied by an assessment of the socio-economic impact that a reduction of fleet capacity would have in each fishery;
2012/05/08
Committee: PECH
Amendment 36 #

2011/2318(INI)

Motion for a resolution
Recital F ter (new)
Fb. whereas the CFP must provide a tool that enables the EU to demonstrate to the world how fishing can be practised as a responsible activity and how to promote improvement of the international management of fisheries applying European fleet management standards;
2012/05/08
Committee: PECH
Amendment 38 #

2011/2318(INI)

Motion for a resolution
Recital F quater (new)
Fc. whereas the EU must assume a key role in mobilising the international community in the campaign against IUU fishing;
2012/05/08
Committee: PECH
Amendment 41 #

2011/2318(INI)

Motion for a resolution
Paragraph 1
1. Welcomes the Commission’s Communication and the many positive proposals it includes for encouraging the sustainability of the EU’s overall fishing and related activities outside EU waters; considers, however, that the scope of the document is not broad enough, beingas it does not take an integrated approach to other fishing and related activities destined for the internal market and is too concentrated on bilateral agreements and multilateral organisations;
2012/05/08
Committee: PECH
Amendment 44 #

2011/2318(INI)

Motion for a resolution
Paragraph 1 bis (new)
1a. Considers that the objectives serving to guide the external action of the CFP consist of defending Community fishing interests while remaining coherent with EU foreign policy;
2012/05/08
Committee: PECH
Amendment 47 #

2011/2318(INI)

Motion for a resolution
Paragraph 1 ter (new)
1b. Considers it of major importance to coordinate foreign policy and cooperation policy for the purpose of establishing sustainable fishing agreements and provide the necessary synergies to make a more effective contribution to the development of associated third countries;
2012/05/08
Committee: PECH
Amendment 49 #

2011/2318(INI)

Motion for a resolution
Paragraph 2
2. Considers that the size of the EU market for fish and the geographical range of activities by EU-flagged and EU-owned vessels impose a high level of responsibility on the Union for ensuring that its fisheries’ footprint is ecologicallysocio-economic impact and ecological footprint are sustainable, providing high quality seafood to consumers in Europe and other countries where European fish, seafood and other products prepared with these ingredients are marketed, and contributing to the social and economic fabric of coastal fishing communities both inside the EU and elsewhere;
2012/05/08
Committee: PECH
Amendment 56 #

2011/2318(INI)

Motion for a resolution
Paragraph 3
3. Believes that fishing by EU interests inside and outside Union waters should be based upon the same standards in terms of ecological and socinomic, social and ecological sustainability and transparency;
2012/05/08
Committee: PECH
Amendment 63 #

2011/2318(INI)

Motion for a resolution
Paragraph 4
4. Reiterates its belief in the need for coherence between the fisheries policy of the Union and its policies with respect tothat in order to achieve the objectives of the Europe 2020 Strategy, coherence is needed between the fisheries policy and other policies of the Union, particularly with regard to policies on employment, trade, development and the environment; n. Notes that such coherence requires coordination both within the Commission itself and between the Commission and the governments of the individual Member States;
2012/05/08
Committee: PECH
Amendment 75 #

2011/2318(INI)

Motion for a resolution
Paragraph 7
7. Urges the Commission to support clearly defined principles and objectives for environmentally and sociresponsible fishing that is economically, socially and environmentally sustainable fisheries on the high seas and in waters under national jurisdiction at the upcoming United Nations Conference on Sustainable Development (Rio+20) in Brazil in June 2012. We understand that in order to convene a conference with expectations of success, rigorous scientific studies are needed first of all in order to determine in which fisheries fleet overcapacity occurs or may occur, studies that must be accompanied by an assessment of any socio-economic impact which may result from reducing fleet capacity in each fishery;
2012/05/08
Committee: PECH
Amendment 79 #

2011/2318(INI)

Motion for a resolution
Paragraph 8
8. Urges the Commission to drive forward the global and multilateral agenda promoting sustainable fisheries worldwide, while transforming its dialogues with key countries such as the US, Japan and China, and its fishing relations with third countries into effective partnerships to address crucial issues such as the eradication of illegal, unreported and unregulated (IUU) fishing and the strengthening of high seas control and governance;
2012/05/08
Committee: PECH
Amendment 86 #

2011/2318(INI)

Motion for a resolution
Paragraph 9
9. Believes that the EU should launch an initiative at UN level to set up a global catch and traceability documentation scheme as a key tool to combat IUU fishing and ensure fair trade and responsible consumption;
2012/05/08
Committee: PECH
Amendment 95 #

2011/2318(INI)

Motion for a resolution
Paragraph 10 bis (new)
10a. States the need to create mechanisms for promoting fishery products that are sustainably sourced from an ecological perspective, and fair from a social perspective, within the EU and beyond;
2012/05/08
Committee: PECH
Amendment 100 #

2011/2318(INI)

Motion for a resolution
Paragraph 11
11. Considers that the application of the principles that serve to guide the external action of the Union in bilateral fisheriesing agreements, or Sthe sustainable Ffisheries Aagreements (SFA) as the Commission proposes to call them, negotiated between partners and equitably implemented, should be of benefit to both parties, providingare essential in order to strengthen the external position of the EU and the development of sustainable fishing, should be of benefit to both parties by facilitating the third country with economic resources, technical and scientific expertise, ands well as support for improved fisheries management and good governance to the third country, while allowenabling the continuation of fishing activities by EU vessels that provide a modest but importantlasting supply of fish to the EU and other markets to continue to develop fishing activities in a competitive way;
2012/05/08
Committee: PECH
Amendment 108 #

2011/2318(INI)

Motion for a resolution
Paragraph 12
12. Regrets, however, that EU bilateral agreements have not always fulfilled these potential benefits, while recognising that much improvement has been made since the previous reform; the assessment of populations, the transparency and monitoring of compliance with its objectives, in particular, of the resulting benefits for the local population, and improving governance are key for obtaining them;
2012/05/08
Committee: PECH
Amendment 116 #

2011/2318(INI)

Motion for a resolution
Paragraph 13
13. Welcomes the intention of the Commission to include several provisions in future bilateral agreements, including respect for the principle of limiting access to resources that are scientifically demonstrated to be surplus tofor the coastal State’s own catch capacity or at regional level in the case of emigrant populations, a human rights clause and the exclusivity clause, although the latter needs tomust be strengthened and made consistent acrossformally recognised through agreements;
2012/05/08
Committee: PECH
Amendment 121 #

2011/2318(INI)

Motion for a resolution
Paragraph 13 bis (new)
13a. The clause on human rights must be implemented without discrimination and apply equally to all countries, not only to fishing agreements but also to trade agreements; through the World Trade Organisation (WTO) we must work towards penalising the production of countries that have yet to recognise human rights or use child labour in their manufacturing production;
2012/05/08
Committee: PECH
Amendment 125 #

2011/2318(INI)

Motion for a resolution
Paragraph 13 ter (new)
13b. Considers that the increased contribution made by undertakings to future fishing agreements must be in line with a greater capacity to influence the individual sector under the technical measures and standards that the Commission negotiaties in such agreements;
2012/05/08
Committee: PECH
Amendment 130 #

2011/2318(INI)

Motion for a resolution
Paragraph 14
14. Considers that the Fishing Authorisations Regulation should be amended so that EU-flagged vessels which have temporarily left the register of a Member State to seek fishing opportunities elsewhere are not allowed, or are allowed under certain conditions, to benefit from fishing opportunities under the SFA if they subsequently return to an EU register, provided that they do not infringe any clauses of the agreements or laws of the third country;
2012/05/08
Committee: PECH
Amendment 149 #

2011/2318(INI)

Motion for a resolution
Paragraph 17
17. Reaffirms that EU vessels should not compete with local fishermen for the same resources and that cooperation between local and EU operators should be facilitated;
2012/05/08
Committee: PECH
Amendment 153 #

2011/2318(INI)

Motion for a resolution
Paragraph 18
18. Believes that the EU must make increased efforts to help provide the coastal States with which it negotiates bilateral agreements with sufficient data and information for reliable stock assessments, and that providing funding for aconsiders that crewing scientific research vessels in regions where the EU fleet is active would considerably strengthen scientific analyses on fish stocks, which is a prerequisite for any SFA;
2012/05/08
Committee: PECH
Amendment 165 #

2011/2318(INI)

Motion for a resolution
Paragraph 20
20. Fully supports balanced compensations in accordance with the economic relations between the parties, and the concept of decoupling compensation for access to fisheries resources from sectoral support for development; strong. Firmly insists that shipowners shouldhave to pay a fair and market- based portion of the former, and that improved oversight of the latter is badly needed, including the possibility of suspension of payments in cases of failure to fulfilportion that enables their activities to be economically profitable; improved supervision of that support is imperative, including the option of suspending procedures in cases of a breach of the commitments byof the coastal State;
2012/05/08
Committee: PECH
Amendment 170 #

2011/2318(INI)

Motion for a resolution
Paragraph 21
21. Insists that the Commission closely monitor the implementation of bilateral agreements, with annual reports being sent to Parliament and the Council, as well as evaluations performed by external, independent experts to be sent to the co- legislators prior to the negotiation of new protocols, all of which should be in the public domain, for the purpose of verifying its effectiveness, it is important to monitor the aid to the third country;
2012/05/08
Committee: PECH
Amendment 174 #

2011/2318(INI)

Motion for a resolution
Paragraph 22
22. Underlines the need for Parliament to be wholly involved in both thethe preparation and negotiating process and the long-term monitoring and assessment of the functioning of bilateral agreements, in order to respect the provisions of the TFEU;. Also recalls its conviction that Parliament should be represented at the Joint Committee meetings envisaged in fisheries agreements, and insists that civil society, including both EU and third country fisheries representatives, also participate in those meetings. The Commission must be able to call upon the advice of Community businesses that operate in third country waters, and upon Community businesses that have fisheries investments in those countries;
2012/05/08
Committee: PECH
Amendment 179 #

2011/2318(INI)

Motion for a resolution
Paragraph 22 bis (new)
22a. Supports the introduction of scientific audits to evaluate fish populations prior to negotiating agreements and that the third country notifies of the fishing effort of the fleets of other countries in its waters in order for these objectives to be effective;
2012/05/08
Committee: PECH
Amendment 181 #

2011/2318(INI)

Motion for a resolution
Paragraph 23
23. Is convinced that full transparency on catches, payments and implementation of sectoral support will be a powerful tool to fighn indispensable tool for developing responsible and sustainable fishing based on good governance and the fight against corruption;
2012/05/08
Committee: PECH
Amendment 192 #

2011/2318(INI)

Motion for a resolution
Paragraph 25 bis (new)
25a. Bilateral conventions should be introduced to encourage Community fisheries investments in countries where at present there are no association agreements, because there are no excess fishing opportunities, and to contribute as a result towards sustainable fishing; also in these cases, coordination between European development funding and the bilateral agreements funding should be a top priority;
2012/05/08
Committee: PECH
Amendment 193 #

2011/2318(INI)

Motion for a resolution
Paragraph 26
26. Urges the EU to take the lead in strengthening RFMOs in order to improve their performance, including by means of regular reviews by independent bodies of the extent to which they achieve their objectives, and to ensure that the recommendations made in such reviews are faithfully, rapidly and fully implemented; b. Believes that clear cases of lack of compliance by States must lead to effective, proportional and non- discriminatory sanctions, including reductions in quotas, effort, capacity allowed, etc.;
2012/05/08
Committee: PECH
Amendment 210 #

2011/2318(INI)

Motion for a resolution
Paragraph 30
30. Believes that RFMOs must ensure the Maximum Sustainable Development of resources and develop management systems that provide for an equitable and fair resource allocation based upon transparent environmental and social criteria, rather than the simplistic criterion of historical catches, while ensuring that management and conservation measures are fully implemented by all members;
2012/05/08
Committee: PECH
Amendment 225 #

2011/2318(INI)

Motion for a resolution
Paragraph 32 bis (new)
32a. Believes that before establishing charges for high sea fishing, the impact that this may have on the fleet must be assessed, ensuring that no unnecessary costs are added that could result in unfair competition or prove discriminatory for normal practice within EU territorial waters or those of third countries; these resources must be used transparently so as to encourage them to contribute to the development of responsible fishing and the improved working of the RFMOs.
2012/05/08
Committee: PECH
Amendment 227 #

2011/2318(INI)

Motion for a resolution
Paragraph 33
33. Considers that the external dimension of the CFP is not limited to bilateral fisheries agreements and the EU’s participation in RFMOs but also includes European external fisheries investments, international trade in fisheries and aquaculture products, private agreements between EU shipowners and third countries, joint ventures by EU companies in third countries and activities by EU nationals on non-EU vessels;
2012/05/08
Committee: PECH
Amendment 228 #

2011/2318(INI)

Motion for a resolution
Paragraph 33 bis (new)
33a. We consider that European fisheries investments should be included as a third component in the external dimension of the CFP, together with fishing agreements and the RFMOs; the CFP must encourage sustainable external fisheries investment on the grounds that they are useful for making our fisheries more competitive and consolidating the EU’s position globally, thereby emphasising its role in the generation of wealth and the creation of employment, both in the EU Member States and in third countries.
2012/05/08
Committee: PECH
Amendment 231 #

2011/2318(INI)

Motion for a resolution
Paragraph 33 ter (new)
33b. Believes that the CFP must promote strategies for Corporate Social Responsibility, in order to assume fully our social responsibilities, in line with the EU Strategy 2011–2014 for Corporate Social Responsibility;
2012/05/08
Committee: PECH
Amendment 232 #

2011/2318(INI)

Motion for a resolution
Paragraph 33 quater (new)
33c. Believes that there has to be close collaboration with the players involved in external waters and represented on the Long Distance Fleet Regional Advisory Council (LDRAC), in particular, with business associations fishing under bilateral agreements, RFMOs and in international waters, as well as with businesses that have investments in fisheries in third countries and possess extensive knowledge of the fisheries in those countries, which would provide a better understanding of resources, fishing areas and fisheries businesses in third countries,
2012/05/08
Committee: PECH
Amendment 238 #

2011/2318(INI)

Motion for a resolution
Paragraph 34 bis (new)
34a. Believes in the need to increase human and financial resources dedicated to external fisheries policy and that in this regard the LDRAC could provide considerable assistance;
2012/05/08
Committee: PECH
Amendment 244 #

2011/2318(INI)

Motion for a resolution
Paragraph 36
36. Expresses its impatience with the Commission for not having added vessels to be included on the EU IUU list other than those listed by the RFMOs, nor having proposed a list of non-cooperating countries, despite the IUU Regulation having been in force for over two years; we agree with the need to seek support from our principal social partners in order to eradicate IUU fishing in all oceans and Exclusive Economic Zones (EEZ);
2012/05/08
Committee: PECH
Amendment 265 #

2011/2318(INI)

Motion for a resolution
Paragraph 40
40. Encourages banks and other lending institutions to incorporate assessments of the environmental and sociconomic, social and environmental sustainability of activities, and not simply their short- term profitability, prior to granting access to capital;
2012/05/08
Committee: PECH
Amendment 273 #

2011/2318(INI)

Motion for a resolution
Paragraph 42 – indent 1
– be preceded by environmental and sociconomic, social and environmental impact assessments,
2012/05/08
Committee: PECH
Amendment 6 #

2011/2292(INI)

Motion for a resolution
Recital A
A. whereas small-scale fishing (including artisanal fishing and some types of inshore fishing, shellfishing and other traditional, extensive aquaculture activities such as the natural breeding of molluscs in inshore waters) has specific characteristics and problems that set it apart from large- scale fishing and from intensive or industrial aquaculture;
2012/05/08
Committee: PECH
Amendment 22 #

2011/2292(INI)

Motion for a resolution
Recital C
C. whereas the generalisation and uniformity of management models based on transferable fishing rights or concessions can comprise real risks for the subsistence of certain sectors of inshore and artisanal fishing, as demonstrated by the experience in some countries;
2012/05/08
Committee: PECH
Amendment 28 #

2011/2292(INI)

Motion for a resolution
Recital D
D. whereas the economic and social crisis in the fisheries sector is particularly affecting artisanal and small-scale fishing;
2012/05/08
Committee: PECH
Amendment 37 #

2011/2292(INI)

Motion for a resolution
Recital E
E. whereas its structural weaknesses mean small-scale fishing is more exposed to certain types of external shock (such as the rapid increase in fuel prices) and to rapid changes in the availability of resources than other elements of the fleet considered more competitive;
2012/05/08
Committee: PECH
Amendment 44 #

2011/2292(INI)

Motion for a resolution
Recital F
F. whereas the market does not fully remunerate the positive social and environmental externalities associated with artisanal and small-scale fishing;
2012/05/08
Committee: PECH
Amendment 45 #

2011/2292(INI)

Motion for a resolution
Recital G
G. whereas the future European Maritime and Fisheries Fund (EMFF) should fully take into account the specific problems and needs of artisanal and small-scale fishing;
2012/05/08
Committee: PECH
Amendment 50 #

2011/2292(INI)

Motion for a resolution
Recital H
H. whereas setting out exclusion zones contributes to the development of responsible practices, to the sustainability both of coastal marine ecosystems and of traditional fishing activities, and to the survival of fishing communities;
2012/05/08
Committee: PECH
Amendment 59 #

2011/2292(INI)

Motion for a resolution
Paragraph 1
1. Considers that small-scale fishing should be the subject of differentiated treatment, with management systems and models adapted to its specific characteristics andrequires management systems and models adapted to its characteristiscs and that it should be the subject of differentiated treatment owing to its specific problems;
2012/05/08
Committee: PECH
Amendment 66 #

2011/2292(INI)

Motion for a resolution
Paragraph 2
2. Rejects a definition of small-scale fishing that is restrictive and detached from reality; considers that the definition of artisanal and small-scale fishing should cover a range of criteria, in addition to the strict that are not limited to the boat-size criterion, and includinge, inter alia, the impact of fishing techniques on the marine ecosystem, time spent at sea andprofile of the economic unit exploiting the resources, the coastal context of the activity, the characteristics of the teconomic unit exploiting the resourcehnical means and the selectivity of the fishing techniques as well as their impact on the marine ecosystem, time spent at sea and the sale of fresh products;
2012/05/08
Committee: PECH
Amendment 85 #

2011/2292(INI)

Motion for a resolution
Paragraph 3
3. Underlines that local management, that is based on scientific knowledge and that involveson the consultation and participation of the sector in setting out and, implementing and evaluating policy, is the management type that best meets the needs of small- scale fishing;
2012/05/08
Committee: PECH
Amendment 97 #

2011/2292(INI)

Motion for a resolution
Paragraph 4
4. Considers that the imposition of a single model for all the Member States, such as the generalisation of the transferable fishing concessions (TFCs), does not constitute an appropriate solution, in view of the huge diversity that characterises fishing in the EU;
2012/05/08
Committee: PECH
Amendment 101 #

2011/2292(INI)

Motion for a resolution
Paragraph 5
5. Rejects the mandatory implementation of TFCs; where more suitable systems exist, argues that the decision on whether or not to adopt TFCs and on which sectors of the fleet to include in this scheme should be left to the Member States, taking into account the diversity of situations and the opinions of stakeholders;
2012/05/08
Committee: PECH
Amendment 116 #

2011/2292(INI)

Motion for a resolution
Paragraph 7
7. Draws attention to the importance of taking into account, not only the quantity of the fleet, but also its quality; considers that the future CFP should encourage the increased sustainability of the fleet in environmental, economic and social terms, by promoting the progressive prevalence of sectors and operators that use selective fishing techniques with less impact on resources, and that benefit the communities of which they are part in terms of generating jobs and of the quality of these jobs;
2012/05/08
Committee: PECH
Amendment 127 #

2011/2292(INI)

Motion for a resolution
Paragraph 8
8. Rejects a general and indiscriminate reduction in the capacity of a given fleetthe fleet and emphasises that, when necessary, it cannot be adjusted solely and obligatorily on the basis of market criteria;
2012/05/08
Committee: PECH
Amendment 145 #

2011/2292(INI)

Motion for a resolution
Paragraph 10
10. Advocates non-discrimination against artisanal and small-scale fishing in EU programmes and the drawing up of an specific EU programme supporting artisanal and small-scale fishing that links up existing instruments, particularly in the financial field, so as to respond to the specific problems of this sector and support the local and sustainable management of the involved fisheries;
2012/05/08
Committee: PECH
Amendment 152 #

2011/2292(INI)

Motion for a resolution
Paragraph 11 – indent 1
renewal and modernisation of fleets with a view to making them easier to use for men and women, safer, and more economically and environmentally sustainable (selection of techniques, energy efficiency, etc.);
2012/05/08
Committee: PECH
Amendment 169 #

2011/2292(INI)

Motion for a resolution
Paragraph 11 – indent 4
– support for associations and, organisations and cooperatives of the sector’s professionals;
2012/05/08
Committee: PECH
Amendment 170 #

2011/2292(INI)

Motion for a resolution
Paragraph 11 – indent 4 a (new)
– promotion of quality policies;
2012/05/08
Committee: PECH
Amendment 171 #

2011/2292(INI)

Motion for a resolution
Paragraph 11 – indent 5
– promotion of the cohesion of the economic and social fabric of the coastal communities most dependant on artisanal and small- scale fishing;
2012/05/08
Committee: PECH
Amendment 174 #

2011/2292(INI)

Motion for a resolution
Paragraph 11 – indent 6
– support for sustainable shellfish farming and shellfishing practices, for complementary activities carried out on land and for related professionals, whilst enhancing the role of women in fishing;
2012/05/08
Committee: PECH
Amendment 190 #

2011/2292(INI)

Motion for a resolution
Paragraph 13
13. Considers it urgent to promote the fairer and more adequate distribution of value added along the sector’s value chain, by reducing operating margins,through initiatives that enable producers to increasinge the prices paid to producers and limitingir competitiveness and their profit margins on the prices paid by end consumers; considers that, in cases where there are serious imbalances in the chain, the Member States should adopt proportionate means of intervention, such asincluding setting maximum operating margins for each agent in the chain, as necessary;
2012/05/08
Committee: PECH
Amendment 196 #

2011/2292(INI)

Motion for a resolution
Paragraph 14
14. Advocates the creation (within the framework of the EMFF or of other instruments) of specific support mechanisms to be implemented in emergencies, such as natural or man-made disasters, fishing stoppages imposed by plans for restoring stocks or restructuring, and sudden increases in fuel prices;
2012/05/08
Committee: PECH
Amendment 206 #

2011/2292(INI)

Motion for a resolution
Paragraph 15
15. Advocates the establishment and expansion of the exclusion zone (currently 12 nautical miles) and adjoining areas, in line with the continental shelf; considers that, in the case of the outermost regions, this area should go from 100 to 200 nautical milesbe suitably expanded;
2012/05/08
Committee: PECH
Amendment 5 #

2011/2290(INI)

Motion for a resolution
Recital B
B. whereas the present communication recalls that the previous CFP failed to achieve its key objectives: numerous stocks are overfished; the economic situation of parts of the EU fleet is fragile despite highthe levels of subsidy; jobs in the fishing sector are unattractive and are being lost; and the situation of many coastal communities depending on fisheries and aquaculture is precarious;
2012/05/09
Committee: PECH
Amendment 14 #

2011/2290(INI)

Motion for a resolution
Recital D
D. whereas there is a need for rigorous social, economic and environmental data, and that according to some estimates 75 % of the EU’s estimated fish stocks are overexploited, more than 60 % of stocks in European waters are fished beyond the Maximum Sustainable Yield (MSY), and the EU is losing approximately EUR 1.8 billion per year in potential income from its failure to manage fisheries sustainably;
2012/05/09
Committee: PECH
Amendment 24 #

2011/2290(INI)

Motion for a resolution
Recital G
G. whereas small-scale fleetsartisanal and small-scale fishing, including shellfishing harvesting and othoseer activities of traditional and extensive aquaculture, and fleets of a larger-scale industrial nature have very different characteristics and problems that cannot be fitted into a uniform model, and thuese aspects need to be treated differently;
2012/05/09
Committee: PECH
Amendment 28 #

2011/2290(INI)

Motion for a resolution
Recital H
H. whereas artisanal and small-scale fishing fleets and areas that are heavily dependent on fishingtheir activities require greater socio-economic support under the new CFP;
2012/05/09
Committee: PECH
Amendment 33 #

2011/2290(INI)

Motion for a resolution
Recital H bis (new)
Ha. whereas there is a need for the representatives of the sectors of industrial and small-scale fleets and of aquaculture to be involved in the definition and development of the new CFP;
2012/05/09
Committee: PECH
Amendment 35 #

2011/2290(INI)

Motion for a resolution
Recital H ter (new)
Hb. whereas the Treaty of Lisbon obliges us to ensure coherence in Union policies, including in the reform of the Common Fisheries Policy;
2012/05/09
Committee: PECH
Amendment 43 #

2011/2290(INI)

Motion for a resolution
Paragraph 1
1. Considers that the common fisheries policy (wild fisheries and aquaculture sector) needs a thorough and ambitious reform if the EU is to lay the foundations of a socio-economically viable and environmentally sustainable fisheries and aquaculture industry in the Union;
2012/05/09
Committee: PECH
Amendment 47 #

2011/2290(INI)

Motion for a resolution
Paragraph 2
2. Emphasises that the EU’s wild fisheries and aquaculture sector, if properly managed, could make a greater contribution to European society’s needs, in terms of food security and quality, employment, environmental protection, and the maintenance of the culture of newly dynamic fishing and coastal communities;
2012/05/09
Committee: PECH
Amendment 55 #

2011/2290(INI)

Motion for a resolution
Paragraph 3
3. Believes that incentives should be offered to those who fish sustainably using selective and environment-friendly fishing methods, in order to ensure positivethe generalised use of such fishing practices;
2012/05/09
Committee: PECH
Amendment 67 #

2011/2290(INI)

Motion for a resolution
Paragraph 5
5. Supports the management of fisheries resources on the basis of MSY, in order to phase out overfishing wherever it occurs, ensure biological security and achieve sustainable stock conservation;
2012/05/09
Committee: PECH
Amendment 76 #

2011/2290(INI)

Motion for a resolution
Paragraph 6
6. Believes that the objective of achieving MSY based on fishing mortality (FMSY) should be established immediately, as this will in any caseccording to the final Declaration of the World Summit on Sustainable Development, held in Johannesburg from 26 August to 4 September 2002, as this would in any case serve to establish a road map and put the vast majority of stocks on the right track; calls on the Commission and the Member States to implement this objective in an operational manner, based on sound scientific data and taking account of the socio-economic consequences;
2012/05/09
Committee: PECH
Amendment 82 #

2011/2290(INI)

Motion for a resolution
Paragraph 7
7. Underlines, however, the difficulties involved in implementing the MSY principle, in particular in the case of mixed fisheries or where scientific data on fish stocks are unavailable or unreliable;
2012/05/09
Committee: PECH
Amendment 90 #

2011/2290(INI)

Motion for a resolution
Paragraph 8
8. Understands the Commission’s motivations when proposing to implement a discard ban by 2016, and considers that it is right to view such practices as unacceptable in principle, particularly given their harmful impact on numerous essential evaluations relating to sustainable stock management, sound scientific advice, marine ecosystem surveillance and the financialsocio-economic viability of fisheries;
2012/05/09
Committee: PECH
Amendment 97 #

2011/2290(INI)

Motion for a resolution
Paragraph 9
9. Believes that a gradual ban on discards should only be put in place if accompanied by technical measures to reduce unwanted bycatch and incentives to encourage selective fishing practices, provided the ecosystem balance is maintained; priority should go to avoiding unwanted catches in the first place, rather than finding ways to marketthe relative stability of the principle should be reviewed and priority should go to avoiding unwanted catches rather than managing them; also stresses the importance ofneed for stakeholder engagement and for the careful design of the landing obligation and the subsequent treatment thereof, in order not to shift from unwanted fish in the sea to unwanted fish on land;
2012/05/09
Committee: PECH
Amendment 107 #

2011/2290(INI)

Motion for a resolution
Paragraph 10
10. Stresses the need for more scientific research to develop tackle and fishing techniques in such a way as to avoid bycatches of non-targeted speciunwanted catches and promote other sustainable fishing methods; underlines the importance of addressing the management of mixed fisheries to this end;
2012/05/09
Committee: PECH
Amendment 112 #

2011/2290(INI)

Motion for a resolution
Paragraph 11
11. Notes that the existing technology for reducing or eliminating discards is not equally effective for all types of fisheries; in this respect, calls on the Commission to promote partnerships between scientists and fishermen, consider their opinions when drawing up its policies and assist Member States in the development of new fishing techniques;
2012/05/09
Committee: PECH
Amendment 125 #

2011/2290(INI)

Motion for a resolution
Paragraph 14
14. Expresses its doubts over the proposals relating to the market in bycatches, and stresses that, in case of implementation, adequate safeguards that comply with a predominantly social orientation should be provided in order to avoid the emergence of a parallel market that would paradoxically encourage fishermen to increase their catch;
2012/05/09
Committee: PECH
Amendment 129 #

2011/2290(INI)

Motion for a resolution
Paragraph 15
15. Believes that the discard ban should be based on a step-by-step introduction by fishery, to make it easier for the sector to adapt; stresses that the producers’ organisations should be taken into consideration and be actively involved in the gradual implementation of such a ban;
2012/05/09
Committee: PECH
Amendment 138 #

2011/2290(INI)

Motion for a resolution
Paragraph 16
16. Asks the Commission to assist Member Statdopt sufficient measures into offsetting the diverse socio- economic consequences of adopting a discards ban;
2012/05/09
Committee: PECH
Amendment 145 #

2011/2290(INI)

Motion for a resolution
Paragraph 17 bis (new)
17a. Consumers will be guaranteed a diversified range of fish and aquaculture products of certified quality and origin, and sufficient information thereon;
2012/05/09
Committee: PECH
Amendment 148 #

2011/2290(INI)

Motion for a resolution
Paragraph 17 ter (new)
17b. Recalls the obligation contained in the Treaty of Lisbon to ensure coherence of the Union’s policies, including in the reform of the Common Fisheries Policy;
2012/05/09
Committee: PECH
Amendment 150 #

2011/2290(INI)

Motion for a resolution
Paragraph 18
18. Believes that the reliability and availability of data must be one of the highest priorities of the reform; is concerned at the lack of reliable and available scientific data as well as socio- economic impact evaluations needed for sound scientific advice;
2012/05/09
Committee: PECH
Amendment 152 #

2011/2290(INI)

Motion for a resolution
Paragraph 19
19. Calls on the Commission to make proposals on effective quality data collection for scientists and for it to be harmonised at the European Union level; urges it, at the same time, to establish a framework, which takes into account the socio-economic impact, for decision- making in data-deficient situations and to come up with scientific models on which to base multi-speciesfic fisheries management;
2012/05/09
Committee: PECH
Amendment 162 #

2011/2290(INI)

Motion for a resolution
Paragraph 21
21. Stresses the importance of involving fishermen, as well as all stakeholders, alongside scientists in contributing to the collection and analysis of socio-economic and environmental information and the active development of research partnerships;
2012/05/09
Committee: PECH
Amendment 173 #

2011/2290(INI)

Motion for a resolution
Paragraph 22
22. Notes that the proposal to introduce ‘Transferable Fishing Concessions’ (TFCs), contained in the basic regulation, raises concerns regarding the concentration and creation of monopolies; stresses that in a number of countries transferable fishing rights have allowed fishing overcapacity to be reduced, which is commendable; emphasises, however, that adequate safeguards would need to be introduced in order to protect small-scale and artisanal coastal fishing (including harvesting shellfish and other traditional and extensive aquaculture activities as well as the natural cultivation of molluscs in coastal waters), which is the most economically endangered part of the industry but also that providing most of the jobs and economic activity in coastal regions;
2012/05/09
Committee: PECH
Amendment 191 #

2011/2290(INI)

Motion for a resolution
Paragraph 23
23. Believes that such a measure should offer priority access to those who fish in a socially and environmentally responsible way; believes that TFCs should not be the only measure proposed for reducing overcapacity, and that a Member State should be exempted from the obligation to introduce TFCs if it achieves the necessary overcapacity reduction without their use; a census system should be maintained in such a way that the transferability of quotas is limited to vessels within the same census, which means the accumulation of fishing rights should be limited, and the historicity of the vessels in the fishery, as well as the socio- economic aspects thereof, must be taken into account when distributing individual fishing concessions;
2012/05/09
Committee: PECH
Amendment 210 #

2011/2290(INI)

Motion for a resolution
Paragraph 25
25. Considers that the economic viability of the fisheries sector is affected by the recent rise in oil prices; calls on the Commission to come up with suitable measures to improve fuel efficiency in the fisheries and aquaculture sector, to alleviate the difficult economic situation in which European fishermen and fish farmers find themselves, and to propose in this respect an action plan for coastal regions and islands;
2012/05/09
Committee: PECH
Amendment 234 #

2011/2290(INI)

Motion for a resolution
Paragraph 30
30. Believes that the reform of the CFP may, in the short term, lead to job losses, especially in the catching sector, thus affecting the growth of coastal communities and islands; stresses, in this respect, that there is a need for accompanying socio-economic measures, including professional cooperation and a plan for jobs, in order to make the sector more attractive to young people and provide incentives to enter the sector; calls on the Commission to examine and promote cooperation with the European Investment Bank in order to leverage investment in the sector;
2012/05/09
Committee: PECH
Amendment 236 #

2011/2290(INI)

Motion for a resolution
Paragraph 30 bis (new)
30a. Considers it necessary to promote the development of innovations and activities related to the field of fisheries, which can offset the loss of jobs due to the adjustments arising from the reform of the CFP; urges the Commission to develop specific programmes dedicated to the development of fishing tourism and other areas of economic development linked to the sea and fishing activity;
2012/05/09
Committee: PECH
Amendment 243 #

2011/2290(INI)

Motion for a resolution
Paragraph 31
31. Shares the view expressed in the Commission proposal regarding the need for adaptation and specific measures, based on the disparate realities of the European fishing and aquaculture industry, and especially in the case of the Union’s coastal areas and outermost regions; supports the idea of establishing regionalisation as one of the main instruments of this new governance, in order to respond adequately to the needs of each sea basin and incentivise adherence to rules adopted at European level;
2012/05/09
Committee: PECH
Amendment 263 #

2011/2290(INI)

Motion for a resolution
Paragraph 33
33. Believes, more generally, that the role of the RACs should be strengthened; in this respect, urges the Commission to table a new proposal aimed at strengthening the participation of stakeholders and artisanal and small- scale fisheries, thus leading to genuine regionalisation in the CFP; welcomes, in this regard, the Commission’s proposal to set up a Black Sea Advisory Council; the RACs must advise the Parliament and the Council on the adoption of multi-annual plans, and involve scientists in the adoption of their decisions;
2012/05/09
Committee: PECH
Amendment 71 #

2011/2156(INI)

Motion for a resolution
Paragraph 5 a (new)
5a. Welcomes the entrance of Estonia into the eurozone as a proof of the strength of the euro project as a common currency.
2011/09/08
Committee: ECON
Amendment 183 #

2011/2156(INI)

Motion for a resolution
Paragraph 18 a (new)
18a. Welcomes that the European Stability Mechanism (ESM) acquired the right to purchase government bonds on the secondary market as this could mean a relief for the ECB in the current circumstances;
2011/09/08
Committee: ECON
Amendment 208 #

2011/2156(INI)

Motion for a resolution
Paragraph 20 a (new)
20a. Takes the view that the role of the euro as reserve currency should be strengthened in the interest of more global balance; calls in this regard for a Special Drawing Rights regime to be convertible implemented based on a basket of fully convertible currencies;
2011/09/08
Committee: ECON
Amendment 210 #

2011/2156(INI)

Motion for a resolution
Paragraph 20 b (new)
20b. As the ECB, IMF and Commission work together on missions in some Member States, calls on the Commission to put forward proposals for a single external representation of the euro area according to Article 138 TFEU; particularly for the IMF;
2011/09/08
Committee: ECON
Amendment 3 #

2011/2149(INI)

Draft opinion
Paragraph 3 a (new)
3a. Emphasises that, according to the fourth edition of the Consumer Markets Scoreboard, most consumers do not know their basic rights in the field of financial services, over 98% are not in a position to be able to choose the most appropriate investment option, and the cost of the problems they encounter is estimated at 0.4% of the EU's GDP; considers that financial education, sound information and the availability of financial expertise are necessary to rectify this situation;
2011/09/15
Committee: ECON
Amendment 5 #

2011/2149(INI)

Draft opinion
Paragraph 4
4. Calls for the strategy to recognise that disclosure of information is necessary but not sufficient by itself to provide reliable and competitive markets in which consumers can make decisions in their best interest; in this respect, advocates improvements in transparency, the promotion of professional standards, the avoidance of conflicts of interest and careful risk assessment;
2011/09/15
Committee: ECON
Amendment 8 #

2011/2149(INI)

Draft opinion
Paragraph 5
5. Given the nature, complexity and scale of the impact on consumers of financial services, calls for a presumption in the strategy that new legislation should btake the specific tocharacteristics of financial services, rather than grouping financial servi into account, paying attention to the differences with other sectors, where as regards consumer needs and behaviour are different; stresses that these specific characteristics may neither give rise to a legal vacuum nor entail inconsistencies or a lower level of protection than in other sectors;
2011/09/15
Committee: ECON
Amendment 11 #

2011/2149(INI)

Draft opinion
Paragraph 5 a (new)
5a. Calls for progress towards the development of a European Charter for Consumer Rights in the field of financial services; states that this Charter should collate and simplify existing provisions, specify rights such as access to information, control of financial records, access to appropriate financial education and expertise or financial inclusion, incorporate best practices from Member States, facilitate collective redress, and lay down the obligation to compile an annual report on problems in the field of financial services encountered by consumers in the internal market;
2011/09/15
Committee: ECON
Amendment 13 #

2011/2149(INI)

Draft opinion
Paragraph 6
6. Points out that the new European Supervisory Authorities have explicit powers and responsibilities relating to consumer protection in financial services and expects the strategy to reflect and build on these; draws attention to the need to promote the involvement of all stakeholders and calls for support for consumer representatives so that they can carry out their work properly and on an equal footing with other parties;
2011/09/15
Committee: ECON
Amendment 17 #

2011/2149(INI)

Draft opinion
Paragraph 7
7. Calls for explicit links between the strategy and the programme for competition policy, and joined-up action to achieve thiensure value for consumers allowing them to benefit from offers under better conditions and from services that are more adapted to their needs;
2011/09/15
Committee: ECON
Amendment 21 #

2011/2149(INI)

Draft opinion
Paragraph 8
8. Calls for tangible progress in the development of the internal market in the field of financial services and for stronger protection in cross- border transactions, in particular for on- line products and services;
2011/09/15
Committee: ECON
Amendment 28 #

2011/2149(INI)

Draft opinion
Paragraph 9
9. Underlines the need to support financial inclusion, for example through access to basic banking services, product diversity and the exclusion of arbitrary and discriminatory action in the field of financial services; urges the Commission to move beyond the recommendations in this area;
2011/09/15
Committee: ECON
Amendment 29 #

2011/2094(INI)

Motion for a resolution
Paragraph 5
5. Stresses that private enforcement already exists in most of the Member States; takes noteRecalls the European Parliament resolution of 26 March 2009 ofn the Commission's ideas concerning EU-wide collective redress; callsWhite Paper on damages actions for breach onf the Commission to take careful note of all the potential risks that have been observed in other jurisdictions, including the USAantitrust rules and considers that any initiative in this regard must be coherent with its content;
2011/10/03
Committee: ECON
Amendment 1 #

2011/2089(INI)

Draft opinion
Paragraph -1 (new)
-1. Recalls the European Parliament resolution of 26 March of 2009 on the White Paper on damages actions for breach of the antitrust rules and considers that any initiative in this regard must be coherent with its content;
2011/10/04
Committee: ECON
Amendment 2 #

2011/2089(INI)

Draft opinion
Paragraph 1
1. Believes, as regards the competition sector, that the most effective tool for deterrence continues to be public enforcementpublic enforcement is essential to implement the provisions of the Treaties, to fully achieve the goals of the EU and to ensure the enforcement of European competition law by the Commission and national competition authorities; is also convinced that private enforcement through collective redress could facilitate theis key to ensure a fair compensation at EU level of harm caused to consumers and undertakings and to contribute to the effectiveness of European competition law;
2011/10/04
Committee: ECON
Amendment 6 #

2011/2089(INI)

Draft opinion
Paragraph 1 a (new)
1a. Points out that damages actions for the breach of European competition law have special characteristics distinctive from other damages actions since they always affect powers conferred according the Treaties to public authorities in order to identify and sanction the infractions, they are based by definition in behaviours that distort the smooth functioning of the internal market and might also affect different levels of relationships among companies and with consumers; underlines moreover that it exists comparative experience to evaluate and abundant literature to address the specific and important number of issues that don't exist in other different fields;
2011/10/04
Committee: ECON
Amendment 10 #

2011/2089(INI)

Draft opinion
Paragraph 2
2. Notes that private enforcementrelatively few private actions for damages already exists in most Member States even though many brought before national courts, and that many Member States do not have explicitly established specific rules on collective redress; recalls that only Member Statethis situation hinders the effectiveness of the right to access to the justice and of European competition law since individual actions may not always be sufficient and efficient; reminds thave thet Member States competence to legislate on the national rules applicable for quantifying the amount of compensation that can be awarded; to enforce the national law cannot prevent the uniform application of European law;
2011/10/04
Committee: ECON
Amendment 16 #

2011/2089(INI)

Draft opinion
Paragraph 2 a (new)
2a. Believes that an advanced system of collective redress can have a deterrent effect to avoid breaches of Community competition law and furthermore stimulate the effectiveness of alternative disputes resolution systems;
2011/10/04
Committee: ECON
Amendment 21 #

2011/2089(INI)

Draft opinion
Paragraph 3
3. Rejects any system whereby abusive litigation and unmeritorious claims are encouraged by the introduction of contingency fees for lawyers or, unbalanced information disclosure systems, including those that could prevent public action, as well as the availability of punitive damages;
2011/10/04
Committee: ECON
Amendment 27 #

2011/2089(INI)

Draft opinion
Paragraph 4
4. Recalls that the leniency policy is an essential tool for uncovering cartels; emphasises that collective redress should not compromise the effectiveness of the leniency programme; underlines, therefore, that any legislative instrumenthorizontal framework applicable to collective redress must fully respect all the specificities of the antitrust sector;
2011/10/04
Committee: ECON
Amendment 31 #

2011/2089(INI)

Draft opinion
Paragraph 5
5. Suggests a twofold principle of follow-on action, wherebystand alone and follow-on actions. Taking into account that in the latter, private enforcement under collective redress can only be implemented if theis implemented after a prior infringement decision by the Commission or a national competition authority; whereas in the case of stand alone is necessary to ensure thas been a prior infringement decision by the Commission or a national competition authorit any private action can be freeze until a decision on public enforcement about the infringement has been adopted by the competent competition authority under European law and, in any case, to ensure the protection of the leniency programs and the effectiveness of the initiatives of the authorities belonging to the European Competition Network to enforce the community competition law in accordance with the Treaty;
2011/10/04
Committee: ECON
Amendment 38 #

2011/2089(INI)

Draft opinion
Paragraph 5 a (new)
5a. Stresses that any horizontal framework should deal only with the common aspects of obtaining damages collectively; further stresses that, where appropriate, procedural and international private-law issues must apply to collective actions in general irrespective of the sector concerned, whereas special sectoral rules should be laid out in separate legislative instruments and therefore not in the horizontal framework;
2011/10/04
Committee: ECON
Amendment 39 #

2011/2089(INI)

Draft opinion
Paragraph 5 b (new)
5b. Believes that each individual damage or loss suffered plays a pivotal role when deciding to file an action, and takes the view that national procedures rules on Member States could use the Regulation No 861/2007 on a European Small Claims Procedure as a reference for collective redress where the value to the claim does not exceed its scope;
2011/10/04
Committee: ECON
Amendment 40 #

2011/2089(INI)

Draft opinion
Paragraph 5 c (new)
5c. Reiterates that safeguards have to be put in place in order to avoid unmeritorious claims, so as to guarantee equality of arms in court proceedings while avoiding defencelessness, and stresses that such safeguards must cover, inter alia, the following points: – Public authorities such as ombudsmen or prosecutors as well as representative bodies may bring an action on behalf of a clearly identified group and identification of the group must have taken place before the claim is brought; – European criteria is needed to define organisations qualified to bring representative actions and Member States should designate them under such criteria. It could take into account, where appropriate, Article 3 of Directive 2009/22/EC on injunctions for the protection of consumer interests[1] but needs to be further specified in order to ensure that abusive litigation is avoided; such criteria should cover, inter alia, the financial and human resources of qualifying organisations; – a Class Actions system has to be rejected on the grounds that it would promote excessive litigation, may be contrary to some Member States’ Constitutions and may affect the rights of any victim who might participate in the procedure unknowingly and yet would be bound by the Court’s decision; – victims must in any case be free to seek the alternative of individual compensatory redress before a competent court; – only the actual damage sustained may be compensated: punitive damages and unfair enrichment must be prohibited; by virtue of the concept of compensation the damages awarded must be distributed to individual victims in proportion to the harm they sustained individually; by and large, contingency fees are unknown in Europe and must be rejected; – collective claimants must not be in a better position than individual claimants, and each claimant must provide evidence for his claim; an obligation to disclose documents to the claimants (‘discovery’) should be established only under judicial scrutiny, be proportionate and respect confidentiality and competition rules – there can be no action with defencelessness of the claimant arising from the lack of financial means nor without financial risk; Member States are to address these problems by determining their own rules, in particular on allocation of costs according to which each party must bear the costs avoiding excessive costs and burdens to claimants; – Victims of minor and diffuse damages should have appropriate means to access to the justice through collective redress and achieve a fair compensation. – the Commission shall set out any appropriate conditions or guidelines to give effectiveness to European law according to the treaties [1] OJ L 166, 11.6.1998, p. 51;
2011/10/04
Committee: ECON
Amendment 41 #

2011/2089(INI)

Draft opinion
Paragraph 5 d (new)
5d. Stresses that any horizontal framework must ensure two basic premises: - Member States will not apply more restrictive conditions to the Collective Redress cases arising from the infringement of Community law than those applied to those cases arising from the infringement of Member States law. - None of the principles laid out in the horizontal framework will prevent the adoption of further measures to achieve the full effectiveness of European law;
2011/10/04
Committee: ECON
Amendment 42 #

2011/2089(INI)

Draft opinion
Paragraph 6
6. Emphasises that any legislative instrument pertaining to collective redress in European competition law should only be adopted under codecision; furthermore consider that collective redress under European competition law deserves a specific legislative initiative without more delay and unnecessary previous legislative action;
2011/10/04
Committee: ECON
Amendment 24 #

2011/2010(INI)

Motion for a resolution
Paragraph 2
2. Supports the adoption of the ‘home’ country principle – whereby all policies written by an insurer, regardless of location of sale, are covered by the ‘home’ IGS – recognising both that: A) it should be done under the current European supervisory framework and in a way that is coherent with its arrangements; B)under Solvency II the cross-border provision of insurance services will increase; and, BC) the failure of an insurer will be linked to the inadequacy of supervision by the ‘home’ supervisor, and thus the burden of responsibility for failure should be borne by the ‘home’competent IGS;
2011/03/24
Committee: ECON
Amendment 50 #

2011/2010(INI)

Motion for a resolution
Paragraph 6
6. Believes that ‘home’ and ‘host’ supervisors should cooperate fully under the current European supervisory framework to ensure minimised disruption for the policyholder in a ‘host’ country in the event of the failure of an insurer, acting through the college with the participation of EIOPA to ensure consistency of approach between schemes;
2011/03/24
Committee: ECON
Amendment 92 #

2011/0385(COD)

Proposal for a regulation
Article 1 – paragraph 1 a (new)
1a. This Regulation also sets out provisions for strengthening economic and budgetary cooperation between the Member States referred to in Article 1(1) and the other Member States of the European Union.
2012/03/13
Committee: ECON
Amendment 114 #

2011/0385(COD)

Proposal for a regulation
Article 2 – paragraph 3 a (new)
3a. Placing a Member State under enhanced surveillance would entail the other Member States and the euro area institutions placing it under a system of strengthened economic and budgetary cooperation.
2012/03/13
Committee: ECON
Amendment 162 #

2011/0385(COD)

Proposal for a regulation
Article 5 – paragraph 1
Where financial assistance is sought from the EFSF or the ESM, the Commission shall prepare – in liaison with the ECB and wherever possible, the IMF - an analysis of the sustainability of the government debt of the Member State concerned, including the Member State's ability to repay the envisaged financial assistance as part of an equivalent, commensurate effort within the euro area, and forward it to the EFC or to any subcommittee the latter may designate for that purpose.
2012/03/13
Committee: ECON
Amendment 176 #

2011/0385(COD)

Proposal for a regulation
Article 6 – paragraph 2
2. The Council, acting by qualified majority on a proposal from the Commission, shall approve the adjustment programmmmission shall be empowered to adopt the adjustment programme under the delegated acts procedure.
2012/03/13
Committee: ECON
Amendment 186 #

2011/0385(COD)

Proposal for a regulation
Article 6 – paragraph 3
3. The Commission, in liaison with the ECB, shall monitor the progress made in the implementation of the adjustment programme and inform every three months the EFC or any subcommittee the latter may designate for that purpose as well as the European Parliament and the relevant parliamentary committee it designates for that purpose. The Member State concerned shall give the Commission its full cooperation. It shall in particular provide to the Commission all the information that the latter deems necessary for the monitoring of the programme. Article 3(3) shall apply.
2012/03/13
Committee: ECON
Amendment 212 #

2011/0385(COD)

Proposal for a regulation
Article 6 a (new)
Article 6a. Accompanying package 1. The Commission, acting in conjunction with the ECB and the euro area Member States, shall draw up a package of economic and monetary measures to support the development of the adjustment programme. These measures shall aim to sustain lending activity, combat capital flight and tax evasion, correct macro- economic imbalances, provide a favourable context for the development of EU programmes and attain the Europe 2020 strategy objectives. 2. The Commission shall be empowered to adopt the accompanying package under the delegated acts procedure. 3. The Commission, in conjunction with the ECB, shall monitor the progress made in the implementation of the accompanying package and report every three months to the EFC or any subcommittee the latter designates for that purpose as well as to the European Parliament and the parliamentary committee it designates for that purpose.
2012/03/13
Committee: ECON
Amendment 186 #

2011/0380(COD)

Proposal for a regulation
Recital 9
(9) It is paramount to better integrate environmental concerns into the CFP which should deliver on the objectives and targets of the Union's environmental policy and the Europe 2020 Strategy. The CFP is aimed at an exploitation of living marine biological resources that restores and maintains fish stocks at levels which can produce the maximum sustainable yield, not later than 2015 as provided for in the Regulation of the Parliament and the Council on the Common Fisheries Policy. The CFP shall implement the precautionary and eco- system approaches to fisheries management. Consequently the EMFF should contribute to the protection of the marine environment as set out in the Directive 2008/56/EC of the European Parliament and the Council of 17 June 2008 establishing a framework for community action in the field of marine environmental policy (Marine Strategy Framework Directive)
2013/01/17
Committee: PECH
Amendment 210 #

2011/0380(COD)

Proposal for a regulation
Recital 25
(25) The fulfilment of certain ex-ante conditionalities is of outmost importance in the context of the CFP, especially as regards the submission of a Multiannual National Strategy Plan on Aquaculture and proven administrative capacity to comply with the data requirements for fisheries management and to enforce with the implementation of a Union control, inspection and enforcement system; and to ensure the implementation of EU legislation on working conditions, particularly those related to safety, health, education and training.
2013/01/17
Committee: PECH
Amendment 215 #

2011/0380(COD)

Proposal for a regulation
Recital 26
(26) In line with the goal of simplification, and decentralisation, all activities of the EMFF which fall under shared management, including control and data collection, should take the form of one single operational programme per Member State, in accordance with its national structure. The programming exercise shall cover the period from 1 January 2014 to 31 December 2020. Each Member State should prepare a single operational programme incorporating all of the different sub-national operational programmes. Each programme should identify a strategy for meeting targets in relation to the Union priorities for the EMFF and a selection of measures. Programming should comply with Union priorities, while being adapted to national contexts and complement the other Union policies, in particular rural development policy and cohesion policy.
2013/01/17
Committee: PECH
Amendment 230 #

2011/0380(COD)

Proposal for a regulation
Recital 33
(33) Recognising the importance of the role that spouses of self-employed fishermen play in small scale coastal fishing, the EMFF should support training and networking contributing to their professional development and giving them the means to better fulfil the ancillary tasks they traditionally perform.
2013/01/17
Committee: PECH
Amendment 232 #

2011/0380(COD)

Proposal for a regulation
Recital 33 a (new)
(33 a) Ancillary fishing and aquaculture activities, designated as such by the Member States – as could be carried out by the net makers, bait suppliers, packers and others dealing directly with fishermen – must be eligible for support from the EMFF to develop their specific activities in order to contribute to improving the functioning of the sector.
2013/01/17
Committee: PECH
Amendment 236 #

2011/0380(COD)

Proposal for a regulation
Recital 34
(34) Conscious of the weak presence of small scale coastal fishermen in the social dialogue, the EMFF should support organisations promoting this dialogue in the appropriate fora.
2013/01/17
Committee: PECH
Amendment 244 #

2011/0380(COD)

Proposal for a regulation
Recital 35
(35) Conscious of the potential that diversification offers for small scale coastal fishermen and their crucial role in coastal communities, the EMFF should help the diversification of their activities by covering business start- ups and investments for the retrofitting of their vessels, in addition to the relevant training to acquire the appropriate professional skills in the relevant field outside fishing activities.
2013/01/17
Committee: PECH
Amendment 254 #

2011/0380(COD)

Proposal for a regulation
Recital 36
(36) In order to address health and safety needs on board, the EMFF should support investments covering safety and, hygiene and prevention of occupational hazards on board.
2013/01/17
Committee: PECH
Amendment 277 #

2011/0380(COD)

Proposal for a regulation
Recital 38
(38) The introduction of the transferable fishing concessions systems should make the sector more competitive. Consequently, there may be a need for new professional opportunities outsidein addition to the fishing activities. Therefore, the EMFF should support the diversification and job creation in fishing communities in particular by supporting business start-ups and the reassignment of vessels for maritime activities outsidein addition to fishing activities of small scale coastal fishing vessels, inter alia, recreational fishing. This last operation seems to be appropriate as the small scale coastal fishing vessels are not covered by the transferable fishing concessions systems.
2013/01/17
Committee: PECH
Amendment 279 #

2011/0380(COD)

Proposal for a regulation
Recital 38 a (new)
(38 a) In order to create a sustainable future for the fishing sector, it is important for the EMFF to promote job creation in fishing communities, in particular by supporting new business start-ups and helping young people to enter professions in the field of fisheries.
2013/01/17
Committee: PECH
Amendment 292 #

2011/0380(COD)

Proposal for a regulation
Recital 39
(39) The objective of the Common Fisheries Policy is to ensure a sustainable exploitation of fish stocksing and aquaculture, as well the environmental and socioeconomic aspects thereof. Overcapacity has been identified as a major driver for overfishing. It is therefore paramount to adapt the Union fishing fleet to the resources available. The removal of overcapacity through public aid such as temporary or permanent cessation and scrapping schemes has proven ineffective. The EMFF will therefore support the establishment and management of systems of transferable fishing concessions aiming at the reduction of overcapacity and increased economic performance and profitability of the operators concerned.
2013/01/17
Committee: PECH
Amendment 322 #

2011/0380(COD)

Proposal for a regulation
Recital 43
(43) In line with the discard ban introduced by the CFP, the EMFF should support investments on board aiming at make the best use of unwanted fish caught and valorise underused components of the fish caught. Considering the scarcity of the resources, in order to maximise the value of the fish caught, the EMFF should also support investments on board and during the processing and marketing stages, with a particular focus on innovation, aiming at adding commercial value to fish caught.
2013/01/17
Committee: PECH
Amendment 337 #

2011/0380(COD)

Proposal for a regulation
Recital 47
(47) Aquaculture contributes to growth and jobs in coastal and rural regions. Therefore, it is crucial that the EMFF is accessible to aquaculture enterprises, in particular SMEs and contributes to bringing new aquaculture farmers into the business. In order to increase the competitiveness and economic performance of aquaculture activities it is vital to stimulate innovation and entrepreneurship. Therefore the EMFF should support innovative operations and business development, in particular non- foodshellfish gathering, natural aquaculture and off-shore aquaculture.
2013/01/17
Committee: PECH
Amendment 346 #

2011/0380(COD)

Proposal for a regulation
Recital 48
(48) New forms of income combined with aquaculture activities have already shown their added value for business development. Therefore the EMFF should support these complementary activities outside aquaculture such as angling- tourism, and promoting the sector and its products, and educational or environmental activities.
2013/01/17
Committee: PECH
Amendment 355 #

2011/0380(COD)

Proposal for a regulation
Recital 50
(50) Conscious of the need to identify the most suitable geographical and environmental areas for developing aquaculture taking into account access to waters and space, the EMFF should support national authorities in making their strategic choices at national leveland competent regional authorities in making their strategic choices, especially as regards their definition, location and mapping.
2013/01/17
Committee: PECH
Amendment 376 #

2011/0380(COD)

Proposal for a regulation
Recital 55
(55) Considering that the community-led approach for local development has, over a number of years, proven its utility in promoting the development of fisheriesing and rural areacommunities by fully taking into account the multi-sectoral needs for endogenous development, support should be continued and reinforced in the future.
2013/01/17
Committee: PECH
Amendment 380 #

2011/0380(COD)

Proposal for a regulation
Recital 56
(56) In fisheries areas, community-led local developmentareas where fishing and related activities are carried out, community-led local development, in line with regional development strategies, should encourage innovative approaches to create growth and jobs, in particular by adding value to fisheries products and diversifying the local economy towards new economic activities, including those offered by "blue growth" and the broader maritime sectors.
2013/01/17
Committee: PECH
Amendment 401 #

2011/0380(COD)

Proposal for a regulation
Recital 62
(62) Priority should be given to producer organisations and, associations of producer organisations and other representative organisations, by granting them support. The withdrawal of the compensation for storage aid and aid for production and marketing plans should gradually be phased out as the importance of this particular kind of support has lost its interest in the light of the evolving structure of the Union market for this kind of products and the growing importance of strong producer's organisations, following an impact assessment, may be considered in 2019.
2013/01/17
Committee: PECH
Amendment 405 #

2011/0380(COD)

Proposal for a regulation
Recital 63
(63) Recognising the growing competition small scale coastal fishermen are confronted to, the EMFF should support entrepreneurial initiatives of small scale coastal fishermen adding value to the fish they catch, in particular by carrying out the processing or direct marketing of the fish they catch.
2013/01/17
Committee: PECH
Amendment 415 #

2011/0380(COD)

Proposal for a regulation
Recital 69
(69) It is paramount that Member States and operators are equipped in such a way that controls can be carried out to a high standard and therefore ensure compliance with the rules of the Common Fisheries Policy while providing for the sustainable exploitation of living aquatic resources; taking account of the characteristics of the different fisheries and the cost effectiveness of each one of them, the EMFF should therefore support Member States and operators in conformity with Council Regulation (EC) No 1224/2009. By creating a culture of compliance, this support should contribute to sustainable growth.
2013/01/17
Committee: PECH
Amendment 420 #

2011/0380(COD)

Proposal for a regulation
Recital 73
(73) Provisions should be laid down for support to collect, manage and use of fisheries data as specified in the multiannual Union programme, in particular to support national and regional programmes, and the management and use of data for scientific analysis and CFP implementation. The support granted to Member States on the basis of the Regulation (EC) No. 861/2006 for the expenditure incurred relating to the collection, management and use of fisheries data should be continued under the EMFF pursuing the logic of a single fund.
2013/01/17
Committee: PECH
Amendment 425 #

2011/0380(COD)

Proposal for a regulation
Recital 74
(74) It is also necessary to support the cooperation among Member States, as well as with third countries where relevant, with respect to the collection of data within the same sea basin, as well as with the relevant international scientific bodies and advisory committees.
2013/01/17
Committee: PECH
Amendment 449 #

2011/0380(COD)

Proposal for a regulation
Recital 93
(93) The rules and procedures governing commitments and payments should be simplified so that a regular cash flow is ensured. A pre-financing of 47 % of the contribution from the EMFF should help speeding up the implementation of the operational programme.
2013/01/17
Committee: PECH
Amendment 458 #

2011/0380(COD)

Proposal for a regulation
Recital 101
(101) In order to supplement and amend certain non-essential elements of this Regulation, the power to adopt acts in accordance with Article 290 of the Treaty should be delegated to the Commission in respect of a code of conduct on identification of the cases of non- compliance of CFP rules which could lead to inadmissibility of application and the timeframe of application, in order to ensure ex ante conditionality in a proportionate way, identification of eligible investments on board in order to avoid investments which would lead to increasing the fishing capacity of the vessel, on the method of calculation of net revenue in the case of eco-innovation, on the determination of the eligible operations and costs linked to the protection and restoration of marine protected areas, on the identification of eligible costs in the investments in off- shore and non-foodshellfish gathering, and natural and off- shore aquaculture, the determination of the content of the action plan of local development strategies, determination of eligible costs under the preparatory support for local development strategies, definition of the eligible costs under running costs and animation costs for the local development strategies, the obligations of paying agencies, the determination of tasks of certification bodies, the clarification of the procedures for adequate audit trail, the clarification of the obligations of Member States in case of recoveries of undue payments,
2013/01/17
Committee: PECH
Amendment 461 #

2011/0380(COD)

Proposal for a regulation
Article 1 – paragraph 1 – introductory part
This Regulation defines Union financial measures for the implementation of:
2013/01/17
Committee: PECH
Amendment 462 #

2011/0380(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point -a (new)
(a) the sustainable development of areas of fisheries, aquaculture and related activities,
2013/01/17
Committee: PECH
Amendment 463 #

2011/0380(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point c
(c) the sustainable development of fisheries areas and inland fishing,deleted
2013/01/17
Committee: PECH
Amendment 474 #

2011/0380(COD)

Proposal for a regulation
Article 3 – paragraph 2 – point 5
(5) 'area of fisheries, area'quaculture and related activities’ generally means an area with sea, river or lake shore or including ponds or a river estuary with a significant level of employment in fisheries or, aquaculture and the ancillary activities thereof, or the processing of their products, and designated as such by the Member State;
2013/01/17
Committee: PECH
Amendment 488 #

2011/0380(COD)

Proposal for a regulation
Article 3 – paragraph 2 – point 6 a (new)
(6a) ‘ancillary fishing and aquaculture activities’ are those carried out by anyone engaging in a professional activity which serves fishermen and is required for their activity, designated as such by the Member State;
2013/01/17
Committee: PECH
Amendment 499 #

2011/0380(COD)

Proposal for a regulation
Article 3 – paragraph 2 – point 7
(7) "Integrated Maritime Policy" (IMP) means a Union policy whose aim is to foster transparent, coordinated and coherent decision making to maximise the sustainable development, economic growth and social cohesion of Member States, and notably the coastal, insular and outermost regions in the Union, as well as maritime sectors, through coherent maritime-related policies and relevant international cooperation;
2013/01/17
Committee: PECH
Amendment 501 #

2011/0380(COD)

Proposal for a regulation
Article 3 – paragraph 2 – point 10
(10) 'inland fishing' means fishing carried out for commercial purposes by vesselsfishermen, from a vessel or otherwise, operating exclusively in inland waters or by other devices used for ice fishing;
2013/01/17
Committee: PECH
Amendment 502 #

2011/0380(COD)

Proposal for a regulation
Article 3 – paragraph 2 – point 12
(12) 'integrated maritime governance' means the coordinated management of all sectoral policies of the EUat EU level affecting the oceans, seas, and coastal regions;
2013/01/17
Committee: PECH
Amendment 514 #

2011/0380(COD)

Proposal for a regulation
Article 3 – paragraph 2 – point 18
(18) 'small scale coastal fishing' means fishingprofessional fishing which is highly- selective and carried out by fishusing vessels of an overall length of less than 12 metres and not using towed gear as listed in Table 3 Annex I of Commission Regulation (EC) No 26/2004 of 30 December 2003 regarding the fishing vessels register of the Unionless than 15 metres in length during trips lasting no longer than 24 hours, and which is characterised by the freshness of its products and the fact that it is operated by a microbusiness or family business. It may also include small-scale natural aquaculture, which includes traditional shellfish gathering on foot or from on board vessels;
2013/01/17
Committee: PECH
Amendment 521 #

2011/0380(COD)

Proposal for a regulation
Article 3 – paragraph 2 – point 19 a (new)
(19a) ‘Diversification’ means practices for strengthening the versatility of fisheries and aquaculture activities, and the development of activities complementary to their production.
2013/01/17
Committee: PECH
Amendment 537 #

2011/0380(COD)

Proposal for a regulation
Article 5 – paragraph 1 – point a
(a) promoting sustainable and competitive fisheries and aquaculturfisheries, aquaculture and related activities that are economically viable, competitive, and socially and environmentally sustainable;
2013/01/17
Committee: PECH
Amendment 542 #

2011/0380(COD)

Proposal for a regulation
Article 5 – paragraph 1 – point b
(b) fostering the implementation of the CFP;
2013/01/17
Committee: PECH
Amendment 550 #

2011/0380(COD)

Proposal for a regulation
Article 5 – paragraph 1 – point c
(c) promoting a balanced and inclusive territorial development of areas of fisheries, areaquaculture and related activities;
2013/01/17
Committee: PECH
Amendment 553 #

2011/0380(COD)

Proposal for a regulation
Article 5 – paragraph 1 – point d
(d) fostering the development and implementation of the CFPMaritime Policy.
2013/01/17
Committee: PECH
Amendment 567 #

2011/0380(COD)

Proposal for a regulation
Article 6 – paragraph 1 – introductory part
The achievement of the objectives of the EMFF shall contribute to the Europe 2020 strategy for job creation and smart, sustainable and inclusive growth. It shall be pursued through the following six Union priorities, which translate the relevant Thematic Objectives of the Common Strategic Framework (hereinafter CSF):
2013/01/17
Committee: PECH
Amendment 576 #

2011/0380(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point 1 – point a
(a) promotion of economic growth, social inclusion, creation of jobs, the transfer between generations and supporting labour mobility in coastal and inland communities depending on fishing and aquaculture;
2013/01/17
Committee: PECH
Amendment 593 #

2011/0380(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point 1 – point b
(b) diversification of fisheries activities into other sectors of maritim the fisheries and aquaculture seconomy and growth of maritime economy, including mitigation of climate change.tors, including the development of complementary activities, and other sectors of maritime economy;
2013/01/17
Committee: PECH
Amendment 596 #

2011/0380(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point 1 – point b a (new)
(ba) combating climate change and saving energy;
2013/01/17
Committee: PECH
Amendment 599 #

2011/0380(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point 1 – point b b (new)
(bb) improving social and labour conditions for fishermen and workers of related activities .
2013/01/17
Committee: PECH
Amendment 603 #

2011/0380(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point 2 – introductory part
(2) Fostering innovative, competitive and knowledge based fishersector of fisheries, aquaculture and related activities through the focus on the following areas:
2013/01/17
Committee: PECH
Amendment 616 #

2011/0380(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point 2 – point b
(b) enhancement of their competitiveness and viability of fisheries, in particular of small scale coastal fleet, and improvement of safety or working conditionsSMEs, as well as the development of an innovative, robust and sustainable industrial processing base for sea products, capable of generating employment in the EU, creating added value and competing globally;
2013/01/17
Committee: PECH
Amendment 624 #

2011/0380(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point 2 – point c
(c) improvement of safety and working conditions, and development of new professional skills and lifelong learning;
2013/01/17
Committee: PECH
Amendment 628 #

2011/0380(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point 2 – point d
(d) improved market organisation for fishery products.deleted
2013/01/17
Committee: PECH
Amendment 636 #

2011/0380(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point 3
(3) Fostering innovative, competitive and knowledge based aquaculture through the focus on the following areas: (a) support to strengthening technological development, innovation and knowledge transfer; (b) enhancement of the competitiveness and viability of aquaculture enterprises, SMEs in particular; (c) development of new professional skills and lifelong learning; (d) improved market organisation for aquaculture products.deleted
2013/01/17
Committee: PECH
Amendment 655 #

2011/0380(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point 4 – introductory part
(4) Promoting a sustainable and resource efficient fisheries and aquaculture through the focus on the following areas:
2013/01/17
Committee: PECH
Amendment 661 #

2011/0380(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point 4 – point a
(a) reduction of the impact of fisheries on the marine environment; promotion of ecosystems related to aquaculture and fostering of resource efficient aquaculture;
2013/01/17
Committee: PECH
Amendment 668 #

2011/0380(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point 4 – point b
(b) protection and restoration in fisheries of marine biodiversity and ecosystems including the services they provide; promotion of aquaculture with a high level of environmental protection, of animal health and welfare, and of public health and safety.
2013/01/17
Committee: PECH
Amendment 675 #

2011/0380(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point 4 – point b a (new)
(ba) promotion of competitiveness and viability, in particular of small scale coastal fishing and aquaculture activities
2013/01/17
Committee: PECH
Amendment 679 #

2011/0380(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point 4 – point b b (new)
(bb) improving market organisation for the products thereof.
2013/01/17
Committee: PECH
Amendment 681 #

2011/0380(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point 5
(5) Promoting a sustainable and resource efficient aquaculture through the focus on the following areas: (a) enhancement of ecosystems related to aquaculture and promotion of resource efficient aquaculture; (b) promotion of aquaculture with high level of environmental protection and of animal health and welfare and of public health and safety.deleted
2013/01/17
Committee: PECH
Amendment 707 #

2011/0380(COD)

Proposal for a regulation
Article 8 – paragraph 1
1. Without prejudice to paragraph 2 of this Article, Articles 107, 108 and 109 of the Treaty shall apply to aid granted by the Member States to enterprises in fisheries and aquaculture.
2013/01/17
Committee: PECH
Amendment 708 #

2011/0380(COD)

Proposal for a regulation
Article 8 – paragraph 2
2. HoweverBy way of derogation from paragraph 1 of this Article, Articles 107, 108 and 109 of the Treaty shall not apply to payments made by Member States pursuant to, and in conformity with, this Regulation within the scope of Article 42 of the Treaty.
2013/01/17
Committee: PECH
Amendment 713 #

2011/0380(COD)

Proposal for a regulation
Article 10 – paragraph 1
In addition to the principles enounced in Article 4 of the [Regulation (EU) No […] laying down Common Provisions], the Commission and the Member States shall ensure coordination and complementarity between support from the EMFF and from other Union policies and financial instruments, including the Regulation (EC) No [establishing the Framework Programme for Environment and Climate Change Action (LIFE Framework Programme)]1 and those in the framework of the Union's external action. Coordination between assistance from the EMFF and LIFE Framework Programme shall be achieved in particular, by promoting the funding of activities that complement integrated projects funded under LIFE Framework Programme, as well as by promoting the use of solutions, methods and approaches validated under LIFE Framework Programme. This coordination and complementarity shall be included in the Operational Programme, which defines the policy and the specific instruments.
2013/01/17
Committee: PECH
Amendment 717 #

2011/0380(COD)

Proposal for a regulation
Article 11
Article 11 The ex ante conditionalities referred to in Annex III of this Regulation shall apply for the EMFF..deleted
2013/01/17
Committee: PECH
Amendment 734 #

2011/0380(COD)

Proposal for a regulation
Article 12 – paragraph 1 – point c
(c) operators who committed other cases of serious non compliance with the CFP rules which seriously jeopardise the sustainability of the stocks concerned, identified as such by other legislation adopted by the European Parliament and the Council.
2013/01/17
Committee: PECH
Amendment 739 #

2011/0380(COD)

Proposal for a regulation
Article 12 – paragraph 2
2. Applications submitted by operators that have committed an irregularity under the EFF or the EMFF shall not be admissible for an identified period of time depending on the gravity of the breach.
2013/01/17
Committee: PECH
Amendment 748 #

2011/0380(COD)

Proposal for a regulation
Article 12 – paragraph 3 – point c
(c) the identification of the other cases of non compliance referred to in paragraph 1(c) which seriously jeopardise the sustainability of the stocks concerndeleted.
2013/01/17
Committee: PECH
Amendment 752 #

2011/0380(COD)

Proposal for a regulation
Article 12 – paragraph 4
4. Member States shall require that operators submitting an application under the EMFF provide to the managing authority a signed statement confirming that they respect the criteria listed in paragraph 1 and have not committed an irregularity under the EEF or the EMFF as referred to in paragraph 2. Member States shall verify the veracity of the statement before the approval of the operation.
2013/01/17
Committee: PECH
Amendment 753 #

2011/0380(COD)

Proposal for a regulation
Article 12 – paragraph 5
5. The Commission shall be empowered to adopt delegated acts in accordance with Article 150 on delegation concerning the establishment of a system for the exchange of solid information of non- compliance between Member States.
2013/01/17
Committee: PECH
Amendment 768 #

2011/0380(COD)

Proposal for a regulation
Article 13 – paragraph 1 – point b
(b) construction of new fishing vessels, decommissioning or importation of fishing vessels, except in the cases provided for in this Regulation;
2013/01/17
Committee: PECH
Amendment 781 #

2011/0380(COD)

Proposal for a regulation
Article 13 – paragraph 1 – point c
(c) temporary cessation of fishing activities;deleted
2013/01/17
Committee: PECH
Amendment 797 #

2011/0380(COD)

Proposal for a regulation
Article 13 – paragraph 1 – point d
(d) experimentalloratory fishing;
2013/01/17
Committee: PECH
Amendment 813 #

2011/0380(COD)

Proposal for a regulation
Article 15 – paragraph 2
2. EUR 4 535 000 000 of the resources referred to in paragraph (1) shall be allocated to the sustainable development of fisheries, aquaculture, related activities and fisheries areas under Chapters I, II, III, IV and IVII of Title V, excluding Article 70.
2013/01/17
Committee: PECH
Amendment 816 #

2011/0380(COD)

Proposal for a regulation
Article 15 – paragraph 3
3. A minimum of EUR 477 000 000 of the resources referred to in paragraph (1) shall be allocated to control and enforcement measures referred to in Article 78.
2013/01/17
Committee: PECH
Amendment 822 #

2011/0380(COD)

Proposal for a regulation
Article 15 – paragraph 4
4. A minimum of EUR 358 000 000 of the resources referred to in paragraph (1) shall be allocated to measures on data collection referred to in Article 79.
2013/01/17
Committee: PECH
Amendment 837 #

2011/0380(COD)

Proposal for a regulation
Article 15 – paragraph 6
6. Up to EUR 45 000 000 of the resources referred to in paragraph (1) shallmay be allocated to the storage aid referred to in Article 72 from 2014 to 2018 included.
2013/01/17
Committee: PECH
Amendment 853 #

2011/0380(COD)

Proposal for a regulation
Article 17 – paragraph 1 – point a – point i
(i) the level of employment in fisheries and aquaculture and the processing industry,
2013/01/17
Committee: PECH
Amendment 857 #

2011/0380(COD)

Proposal for a regulation
Article 17 – paragraph 1 – point a – point ii
(ii) the level of production in fisheries and aquaculture and the processing industry, and
2013/01/17
Committee: PECH
Amendment 861 #

2011/0380(COD)

Proposal for a regulation
Article 17 – paragraph 1 – point a – point iii
(iii) the share of small scale coastal fishing fleet in the fishing fleet;
2013/01/17
Committee: PECH
Amendment 876 #

2011/0380(COD)

Proposal for a regulation
Article 18 – paragraph 1
1. Each Member State shall draw up a single operational programme integrating the various subnational operational programmes to implement the Union priorities to be co- financed by the EMFF.
2013/01/17
Committee: PECH
Amendment 889 #

2011/0380(COD)

Proposal for a regulation
Article 20 – paragraph 1 – point b – introductory part
(b) an analysis of the situation in terms of SWOT and identification of the needs that have to be addressed in the geographical and environmental area covered by the programme;
2013/01/17
Committee: PECH
Amendment 892 #

2011/0380(COD)

Proposal for a regulation
Article 20 – paragraph 1 – point b – paragraph 2
The analysis shall be structured around the Union priorities. Specific needs concerning climate change mitigation and adaptation and promotion of innovation shall be assessed across Union priorities, in view of identifying relevant responses in these two areas at the level of each priority; a synthesis of the situation of the policy areas eligible for support in terms of strengths and weaknesses;
2013/01/17
Committee: PECH
Amendment 903 #

2011/0380(COD)

Proposal for a regulation
Article 20 – paragraph 1 – point f
(f) description of selection criteria for projects in accordance with the regulations;
2013/01/17
Committee: PECH
Amendment 905 #

2011/0380(COD)

Proposal for a regulation
Article 20 – paragraph 1 – point f a (new)
(fa) conditionality criteria for sustainable development, if it is decided to establish a set of sustainability criteria which go beyond the regulations in force and which produce, after validation by the Commission, an increase in the support (Annex I);
2013/01/17
Committee: PECH
Amendment 912 #

2011/0380(COD)

Proposal for a regulation
Article 20 – paragraph 1 – point j – point i
i) a table setting out the total EMFF contribution planned for each year and the percentage transferable between annual contributions;
2013/01/17
Committee: PECH
Amendment 921 #

2011/0380(COD)

Proposal for a regulation
Article 20 – paragraph 1 – point m
(m) the designation of the partners referred to in Article 5 of the [Regulation (EU) No [...] laying down Common Provisions] and the results of the consultation of the partners; changes to the partners may be carried out during the Programme with the agreement of the Monitoring Committee;
2013/01/17
Committee: PECH
Amendment 924 #

2011/0380(COD)

Proposal for a regulation
Article 20 – paragraph 1 – point n – point iii
(iii) specific objectives to be achieved in line with the Union priorities of Article 6 and detailing how many items of every expenditure category shall be purchased over the entire programming period;
2013/01/17
Committee: PECH
Amendment 927 #

2011/0380(COD)

Proposal for a regulation
Article 20 – paragraph 1 – point o – introductory part
(o) For the objective of collection of data for sustainable fisheries management referred in under Articles 6(6) and 18(4) and in accordance with the multiannual Union programme referred to in Article 37(5) of the [Regulation on Common Fisheries Policy] and for the analysis of the socio-economic situation of the processing and marketing industry for fisheries and aquaculture products:
2013/01/17
Committee: PECH
Amendment 931 #

2011/0380(COD)

Proposal for a regulation
Article 20 – paragraph 1 – point o – point i – introductory part
(i) a description of activities of data collection to be carried out in consultation with stakeholders to allow the following:
2013/01/17
Committee: PECH
Amendment 943 #

2011/0380(COD)

Proposal for a regulation
Article 20 – paragraph 1 – point o – point iii
(iii) a demonstrjustification of the capability to achieve sound financial and administrative management of the data collected.
2013/01/17
Committee: PECH
Amendment 947 #

2011/0380(COD)

Proposal for a regulation
Article 20 – paragraph 4
4. The Commission shall lay down, by means of implementing acts, rules for the presentation of the elements described in paragraphs 1, 2 and 3. These implementing acts shall be adopted in accordance with the advisoryexamination procedure referred to in Article 151(23).
2013/01/17
Committee: PECH
Amendment 958 #

2011/0380(COD)

Proposal for a regulation
Article 23 – paragraph 1
1. For the purpose of application of Article 20(1)(o), Member States shall submit to the Commission an annual work plan before 31 October each year. Annual work plans, before 31 October each year, an annual work plan or shall notify the continuation of the plan in force the previous year. Annual work plans shall be drawn up within the framework of a multiannual national programme drawn up in accordance with the Community programme and shall contain a description of the procedures and methods to be used in collecting and analysing data and in estimating their accuracy and precision.
2013/01/17
Committee: PECH
Amendment 962 #

2011/0380(COD)

Proposal for a regulation
Article 23 – paragraph 3
3. The Commission shall approve, by means of implementing act, the annual work plan for each year by 31 December of each year, except if notified that a previously approved plan remains in force.
2013/01/17
Committee: PECH
Amendment 969 #

2011/0380(COD)

Proposal for a regulation
Article 24 – paragraph 1 – subparagraph 3
Amendments referred to in (a) and (b) shall not exceed 5 % of the amount allocated to the Union priority and 10 % of the amount allocated to each measure in order to benefit from this simplified procedure.
2013/01/17
Committee: PECH
Amendment 971 #

2011/0380(COD)

Proposal for a regulation
Article 25 – title
Annual wWork programme
2013/01/17
Committee: PECH
Amendment 975 #

2011/0380(COD)

Proposal for a regulation
Article 25 – paragraph 1
1. To implement Chapters I and II of Title VI and Article 92, the Commission shall, by means of implementing acts, adopt a multiannual work programme in accordance with objectives set out in those Chapters. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 151(3).
2013/01/17
Committee: PECH
Amendment 984 #

2011/0380(COD)

Proposal for a regulation
Article 27 – paragraph 1
1. The owner of a fishing vessel having received support under Articles 32(1)(b), 367(o), 39(1)(a), or 40(2) of this Regulation shall not transfer the vessel to an operator established in a third country outside the Union during at least 5 years following the date of actual payment of this support to the beneficiary. If a fishing vessel transfers during this period, it must return the support received in proportion to the period elapsed, which shall be recovered by the Member State which shall report to the Commission.
2013/01/17
Committee: PECH
Amendment 998 #

2011/0380(COD)

Proposal for a regulation
Article 28 – paragraph 2
2. Operations financed under this Article must be carried out in collaboration with an economic, scientific or technical body recognised by the Member State which shall validate the results of such operations.
2013/01/17
Committee: PECH
Amendment 1019 #

2011/0380(COD)

Proposal for a regulation
Article 29 – paragraph 2
2. The feasibility studies and advice referred to respectively in paragraph 1(a) and (b) shall be provided by business and marketing advisory companies or recognised scientific or technical bodies with the required advisory competences as recognised by the national law of each Member State.
2013/01/17
Committee: PECH
Amendment 1025 #

2011/0380(COD)

Proposal for a regulation
Article 29 – paragraph 5
5. The support referred to in paragraph 1 shall take the form of lump sums not exceeding the amount of 3 000 Euro. This limit shall not apply when the beneficiary is an organisation of fishermenthe amount of which shall be rightly stipulated in the corresponding call for proposals and shall not exceed the amount of EUR 30 000. The method used to establish the amount shall be set out in the selection criteria.
2013/01/17
Committee: PECH
Amendment 1033 #

2011/0380(COD)

Proposal for a regulation
Article 30 – paragraph 1 – point b
b) the activitiespecific actions carried out by aindependent scientific bodies and fishermen or one or several organisations of fishermen or by the networks as referred in point (a).
2013/01/17
Committee: PECH
Amendment 1040 #

2011/0380(COD)

Proposal for a regulation
Article 30 – paragraph 2
2. Activities referred to in paragraph 1(b) may cover data collection activities, studies, pilot projects and the dissemination of knowledge including seminars and best practices.
2013/01/17
Committee: PECH
Amendment 1051 #

2011/0380(COD)

Proposal for a regulation
Article 31 – paragraph 1 – point a
(a) lifelong learning, dissemination of scientific, technical, economic or regulatory knowledge and innovative practices, and acquisition of new professional skills in particular linked to the sustainable management of marine ecosystems, activities in the maritime sector, safety and rescue, innovation and entrepreneurship;
2013/01/17
Committee: PECH
Amendment 1061 #

2011/0380(COD)

Proposal for a regulation
Article 31 – paragraph 1 – point c
(c) promoting the social dialogue at national, regional or local level involving fishermenoperators and other relevant stakeholders.
2013/01/17
Committee: PECH
Amendment 1065 #

2011/0380(COD)

Proposal for a regulation
Article 31 – paragraph 2
2. The support referred to in paragraph 1 shall also be granted to spouses of self- employed fishermen or, when and in so far as recognised by national law,, members of co- operatives, social economy enterprises and jointly-owned businesses or, when the life partners of self-employed fishermen, not being employees or business partners, where they habitually, under the conditions laid down by national law, participate in the activities of the self-employed fishermenbove-mentioned activities or perform ancillary tasks.
2013/01/17
Committee: PECH
Amendment 1076 #

2011/0380(COD)

Proposal for a regulation
Article 32 – paragraph 1 – introductory part
1. In order to facilitate diversification and job creation outside fishing, the EMFF may support:
2013/01/17
Committee: PECH
Amendment 1100 #

2011/0380(COD)

Proposal for a regulation
Article 32 – paragraph 1 – point b
(b) retrofitting of small scale coastal fishing vessels in order to reassign them for activities outside fishing and aquaculture.
2013/01/17
Committee: PECH
Amendment 1114 #

2011/0380(COD)

Proposal for a regulation
Article 32 – paragraph 2 - introductory part
2. Support under paragraph 1 (a) shall be granted to fishermenoperators who:
2013/01/17
Committee: PECH
Amendment 1126 #

2011/0380(COD)

Proposal for a regulation
Article 32 – paragraph 3
3. Support under paragraph 1(b) shall be granted to small scale coastal fishermen owning a Union fishing vessel registered as active and which have carried out fishing activities at sea at least 60 days during the two years preceding the date of submission of the application. The fishing licence associated with the fishing vessel shall be permanently withdrawn.
2013/01/17
Committee: PECH
Amendment 1136 #

2011/0380(COD)

Proposal for a regulation
Article 32 – paragraph 4
4. Beneficiaries of the support referred to in paragraph 1 shall not engage in professional fishing in the five years following the reception of the last payment of the support. Should they return to professional fishing, they must return the support received in accordance with the principle of pro rata temporis.
2013/01/17
Committee: PECH
Amendment 1149 #

2011/0380(COD)

Proposal for a regulation
Article 32 – paragraph 6
6. The amount of financial assistance granted under paragraph 1 (a) shall not exceed 50% of the investment budget foreseen in the business plan for each operation and shall not exceed a maximum amount of 50 000 EUR for each operation.
2013/01/17
Committee: PECH
Amendment 1156 #

2011/0380(COD)

Proposal for a regulation
Article 32 a (new)
Article 32a Support for young fishermen 1. The EMFF may grant support to young fisherman to enable them to purchase a fishing vessel for the first time and relay other fishermen who cease professional activity. 2. For the purposes of this Article, ‘young fishermen’ are natural persons who, at the time of application submission, are under 40 years old and have worked for at least five years as fishermen or have acquired equivalent professional training. The Member States may also determine other objective criteria to determine the eligibility of young fishermen for support under this Article. 3. Support to young fishermen for the first purchase of a fishing vessel may not be granted for transfers between immediate family and shall not exceed 25% of the purchase price or a maximum amount of EUR 50 000 and shall apply to vessels: a) the overall total length of which does not exceed 24 m, b) that are equipped for sea fishing, c) that are between 5 and 30 years old, and d) that belong to a fleet segment which has a capacity report as referred to in Article 35 of the [Regulation on the Common Fisheries Policy] which shows a balance with the fishing opportunities available for its segment of activity. 4. Support to young fishermen for relay contracts covers the transfer of knowledge and practices, for a period of between three and five years, including the transfer of the vessel which must comply with the same requirements contained in paragraph 3(a), (b), (c) and (d) of this Article. This type of support may not be granted for relays between immediate family and shall not exceed 35% of the purchase price of the vessel or a maximum amount of EUR 75 000 for all items. 5. The young fishermen who benefit from this support shall engage in professional fishing, at least, for the five years following receipt of the last payment of the support. Should they abandon professional fishing, they must return the support they have received under the principle of pro rata temporis; this also applies to any relayed fishermen who return to the activity. 6. In order to ensure the protection of the beneficiaries’ rights and avoid discrimination, the Commission shall be empowered to adopt delegated acts in relation to the conditions under which a person may be deemed legally eligible for the purposes of this Article.
2013/01/17
Committee: PECH
Amendment 1159 #

2011/0380(COD)

Proposal for a regulation
Article 32 b (new)
Article 32b Temporary cessation of fishing activities 1. The EMFF may contribute to the financing of measures for the temporary cessation of fishing activities: a) in the case of a marine casualty or other cause presenting a serious threat to the conservation of marine biological resources or to the marine ecosystem which causes the interruption or sudden dramatic reduction in activities and, where appropriate, the application of the emergency measures laid down in Article 13 of the [Common Fisheries Policy Regulation], b) in the case of the non-renewal of the fisheries partnership agreements or their protocols or if the safety conditions for the development of fishing activities covered by the fishing or partnership agreements are not in place, c) in the case that there is a planned temporary suspension of a management plan approved under Reg. (EC) No 1967/06 or a multiannual plan adopted under Article 9 and 11 of the Regulation on the Common Fisheries Policy and reductions in fishing effort are required to meet the objectives under Articles 2(2) and 2(4)(a) of the [Regulation on the Common Fisheries Policy], based on scientific advice. 2. The EMFF may contribute to the financing of the support measures under paragraph 1 for the temporary cessation of fishing activities of fishermen and owners of fishing vessels with a maximum duration of 6 months per vessel during the period 2014 to 2020. 3. The support provided for under paragraph 1 shall be granted to: a) owners of Union fishing vessels registered as active which have carried out fishing activities at sea for at least 120 days in the two calendar years prior to the date of submission of the application, or b) fishermen who have worked at sea on board a Union fishing vessel or aquaculture producers who are professionally harvesting aquatic organisms, recognised by the Member State, without using a fishing vessel, who are affected by the temporary cessation for at least 120 days during the two calendar years prior to the date of submission of the application. 4. All fishing activities carried out by the fishing vessel in question or the fishermen concerned must effectively be suspended. The appropriate authorities shall ensure that the fishing vessel in question has ceased all fishing activity during the period in question on account of temporary cessation.
2013/01/17
Committee: PECH
Amendment 1160 #

2011/0380(COD)

Proposal for a regulation
Article 32 c (new)
Article 32c Permanent cessation of fishing activities 1. The EMFF may contribute to the financing of measures for the permanent cessation of fishing activities only through the scrapping of fishing vessels, providing that the vessel has not been in receipt of support for its purchase and that: a) it is included in the operational programme as laid down in Article 20, and b) the permanent cessation is envisaged as a tool of the action plan referred to in Article 35 of the [Regulation on the Common Fisheries Policy] which indicates that the segment of the fleet is not effectively in balance with the fishing opportunities available in that segment. 2. The support provided for under paragraph 1 shall be granted to: a) the owners of Union fishing vessels registered as active which have carried out fishing activities at sea during at least 60 days per year in the last two calendar years prior to the submission date of the application, or b) fishermen who have worked at sea on board a Union fishing vessel affected by the permanent cessation during at least 60 days per year in the last two calendar years prior to the date of submission of the application. 3. The fisherman in question effectively puts an end to all his fishing activities. Evidence of the effective cessation of fishing activities shall be communicated to the competent national authority by the beneficiaries of this support. Compensation shall be reimbursed pro rata temporis should a fisherman return to fishing activity less than one year after the date of submission of the application. 4. The public support under this Article may be granted until 31 December 2019. 5. The support provided for in this Article shall only be paid after the equivalent capacity has been permanently withdrawn from the fishing vessels register of the Community and the fishing licences and authorisations have also been permanently withdrawn. The beneficiary of the support may not register a new fishing vessel in the five years following reception of the aforementioned support. The reduction of capacity will give rise to a permanent reduction equivalent to the engine power ceiling of the segment of the fleet.
2013/01/17
Committee: PECH
Amendment 1165 #

2011/0380(COD)

Proposal for a regulation
Article 33 – paragraph 1
1. In order to improve working and living conditions on board for fishermen the EMFF may support investments on board or in individual equipments providing that these investments go beyond standards required under national or Union lawand ancillary workers with a job linked to the fisheries sector and safety conditions on board the vessels, the EMFF may provide support for carrying out feasibility studies, training and practice in first aid and rescue as well as investments on board or in individual items of equipment.
2013/01/17
Committee: PECH
Amendment 1173 #

2011/0380(COD)

Proposal for a regulation
Article 33 – paragraph 2
2. The support shall be granted to fishermen orwho are owners of fishing vessels and ancillary workers.
2013/01/17
Committee: PECH
Amendment 1180 #

2011/0380(COD)

Proposal for a regulation
Article 33 – paragraph 3
3. When the operation consists in an investment on board, the support shall not be granted more than once during the programming period for the same fishing vessel. When the operation consists of an investment in individual equipment, the support shall not be granted more than once during the programming period for the same beneficiary.
2013/01/17
Committee: PECH
Amendment 1249 #

2011/0380(COD)

Proposal for a regulation
Article 35 – title
Support to the implementation of conservation measures under the CFP, Natura 2000 and the Marine Strategy Framework
2013/01/17
Committee: PECH
Amendment 1252 #

2011/0380(COD)

Proposal for a regulation
Article 35 – paragraph 1 – introductory part
1. In order to ensure efficient implementation of conservation measures under Articles 12, 17 and 21 of the [Regulation on Common Fisheries Policy] the EMFF may support:
2013/01/17
Committee: PECH
Amendment 1256 #

2011/0380(COD)

Proposal for a regulation
Article 35 – paragraph 1 – point a
(a) the design and, development and monitoring of technical and administrative means necessary for the implementation of conservation measures in the meaning of Articles 17 and 21 of the [Regulation on Common Fisheries Policy] or in accordance with the provisions of European Union law;
2013/01/17
Committee: PECH
Amendment 1263 #

2011/0380(COD)

Proposal for a regulation
Article 35 – paragraph 1 – point b
(b) stakeholder participation in designing and implementing conservation measures in the meaning of Articles 17 and 21 of the [Regulation on Common Fisheries Policy] or in accordance with the provisions of European Union law.
2013/01/17
Committee: PECH
Amendment 1275 #

2011/0380(COD)

Proposal for a regulation
Article 36 – paragraph 1 – introductory part
1. In order to reduce the impact of fishing on the marine environment, foster the gradual elimination of discards and facilitate the transition to exploitation of living marine biological resources that restores and maintains populations of harvested species above levels which can produce the MSY, the EMFF maguarantee adequate survival, the EMFF may simultaneously support investments in equipment:
2013/01/17
Committee: PECH
Amendment 1300 #

2011/0380(COD)

Proposal for a regulation
Article 36 – paragraph 2
2. Support shall not be granted more than once during the programming period for the same Union fishing vessel and for the same type of equipment.
2013/01/17
Committee: PECH
Amendment 1315 #

2011/0380(COD)

Proposal for a regulation
Article 37 – paragraph 1
1. In order to contribute to the gradual elimination of discards and by-catches and facilitate the transition to exploitation of living marine biological resources that restores and maintains populations of harvested species above levels which can produce the MSY under the CFP Regulation, the EMFF may support projects aiming at developing or introducing new technical or organisational knowledge reducing impacts of fishing activities on the environment or achieving a more sustainable use of marine biological resources.
2013/01/17
Committee: PECH
Amendment 1324 #

2011/0380(COD)

Proposal for a regulation
Article 37 – paragraph 4
4. Fishing vessels involved in projects financed under this Article shall not exceed 510% of the vessels of the national fleet or 510% of the national fleet tonnage in gross tonnage, calculated at the time of submission of the application.
2013/01/17
Committee: PECH
Amendment 1329 #

2011/0380(COD)

Proposal for a regulation
Article 38 – paragraph 1 – introductory part
1. In order to stimulate the participation of fishermen in the protection and restoration of marine biodiversity and ecosystems including the services they provide in the framework of sustainable fishing activities, the EMFF may support the following operations which have a direct effect on the activities of the fishing sector:
2013/01/17
Committee: PECH
Amendment 1336 #

2011/0380(COD)

Proposal for a regulation
Article 38 – paragraph 1 – point b
(b) the construction or, installation and modernisation of static or movable facilities intended to protect and enhance marine fauna and flora and to study and evaluate them scientifically;
2013/01/17
Committee: PECH
Amendment 1347 #

2011/0380(COD)

Proposal for a regulation
Article 38 – paragraph 1 – point d
(d) studies, management, restoration and monitoring NATURA 2000 sites in accordance with Council Directive 92/43/EEC of 21 May 1992 on the 1 2 3 4 OJ L 206 , 22.7.1992 p.7. OJ L 20, 26.1.2010, p. 7. OJ L 206, 22.7.1992 p.7. OJ L 20, 26.1.2010, p. 7. conservation of natural habitats and of wild fauna and flora13 and Council and European Parliament Directive 2009/147/EC of 30 November 2009 on the conservation of wild birds24, in accordance with prioritised action frameworks established pursuant to Council Directive 92/43/EEC;
2013/01/17
Committee: PECH
Amendment 1351 #

2011/0380(COD)

Proposal for a regulation
Article 38 – paragraph 1 – point e
(e) studies, management, restoration and monitoring of marine protected areas in view of the implementation of the spatial protection measures referred to in Article 13(4) of the European Parliament and Council Directive 2008/56/EC;
2013/01/17
Committee: PECH
Amendment 1357 #

2011/0380(COD)

Proposal for a regulation
Article 38 – paragraph 1 – point f
(f) the participation in other actions aimed at maintaining and enhancing biodiversity and ecosystem services, such as the restoration of specific marine and coastal habitats in support of sustainable fish stocks. including their preparation and scientific evaluation;
2013/01/17
Committee: PECH
Amendment 1361 #

2011/0380(COD)

Proposal for a regulation
Article 38 – paragraph 1 – point f a (new)
f a) the promotion of environmental awareness and responsibility involving producers in the protection and restoration of marine biodiversity.
2013/01/17
Committee: PECH
Amendment 1367 #

2011/0380(COD)

Proposal for a regulation
Article 38 – paragraph 2
2. Operations under this Article shall be implemented by public law bodies and shall involve fishermen otechnical or scientific public law bodies, by producers or producer organisations of fishermen, recognised by the Member State, or non-governmental organisation in partnership with organisations of fishermen or FLAGs as defined under Article 62 or the Advisory Committees.
2013/01/17
Committee: PECH
Amendment 1369 #

2011/0380(COD)

Proposal for a regulation
Article 38 – paragraph 3
3. The Commission shall be empowered to adopt delegated acts in accordance with Article 150 in order to: a) identify the types of operations eligible under paragraph 1 of this Article; b) specify the eligible costs under paragraph 1.
2013/01/17
Committee: PECH
Amendment 1377 #

2011/0380(COD)

Proposal for a regulation
Article 39 – paragraph 1 – point a
(a) investments on boardin equipment on board, including the replacement or modernisation of main or ancillary equipment, aimed at reducing the emission of pollutants or green-house gases and increasing energy efficiency of fishing vessels; in fleet segments whose capacity, under the terms of Article 35 of the Regulation on the Common Fisheries Policy, is in balance with the available possibilities; investments in fishing gear are eligible provided that they are not detrimental to the selectiveness of fishing gear; this support shall only be granted to owners of fishing vessels and not more than once for the same vessel.
2013/01/17
Committee: PECH
Amendment 1380 #

2011/0380(COD)

Proposal for a regulation
Article 39 – paragraph 1 – point b
(b) energy efficiency audits, advice and schemes.
2013/01/17
Committee: PECH
Amendment 1396 #

2011/0380(COD)

Proposal for a regulation
Article 39 – paragraph 2
2. Support shall not contribute to the replacement or modernisation of main or ancillary engines. Support shall only be granted to owners of fishing vessels and not more than once durfor the replacement or modernisation of main or ancillary machines may be granted to: a) small-scale coastal fishing vessels of up to a total of 12 metres in length which do not use trawling gear, provided that the power of the new engine does not exceed that of the previous engine, or b) vessels of a total of 24 metres in length other than those in point a), provided that the new engine is 20% less powerful than the engine being replaced; This support shall only be granted for the replacement or modernisation of main or ancillary machines which are officially certified to comply with Article 40(2) of Regulation (EC) No 1224/2009; for fishing vessels which are not subject to engine power certification, support shall only be granted for the replacement or modernisation of main or ancillary machines which are consistent with the power of the corroborated engine, in accordance with Article 41 of Regulation (EC) No 1224/2009 and physically inspected to ensure that the engine power does not exceed the maximum established ing the programming period for the same fishing vessel. fishing licences. Without prejudice to Article 27(3), the financial contribution of the EMFF with regard to the replacement or modernisation of main or ancillary machines may not exceed the greater of the following two thresholds: EUR 1.5 million or 3% of the financial support granted by the Union to the Member State for priorities 1 and 2 of the Union.
2013/01/17
Committee: PECH
Amendment 1412 #

2011/0380(COD)

Proposal for a regulation
Article 40 – title
Product quality and use of unwanted catchesadded value
2013/01/17
Committee: PECH
Amendment 1418 #

2011/0380(COD)

Proposal for a regulation
Article 40 – paragraph 1
1. In order to improve the added value or quality of the fish caught the EMFF may support: a) investments on board for this purposewhich add value to fishing products, in particular by allowing fishermen to carry out the processing, marketing and direct sale of their own catches; b) innovative investments on board which improve the quality of fishing products; c) information campaigns about fishing products which are little known among consumers.
2013/01/17
Committee: PECH
Amendment 1425 #

2011/0380(COD)

Proposal for a regulation
Article 40 – paragraph 2
2. In order to improve the use of unwanted catches the EMFF may support investments on board to make the best use of unwanted catches of commercial stocks and valorise underused components of fish caught, in line with Article 15 of the [Regulation on Common Fisheries Policy] and Article 8(b) of the [Regulation (EU) No on the common organisation of the markets in fishery and aquaculture products].deleted
2013/01/17
Committee: PECH
Amendment 1433 #

2011/0380(COD)

Proposal for a regulation
Article 40 – paragraph 3
3. Support under this Article shall not be granted more than once during the programming period for the same fishing vessel or the same beneficiary.deleted
2013/01/17
Committee: PECH
Amendment 1437 #

2011/0380(COD)

Proposal for a regulation
Article 40 – paragraph 4
4. The support referred to in paragraph 1 shall only be granted to owners of Union fishing vessels whose vessels are which have carried a fishing activity for at least 60 days at sea during the two years preceding the date of submission of the application.deleted
2013/01/17
Committee: PECH
Amendment 1454 #

2011/0380(COD)

Proposal for a regulation
Article 41 – paragraph 1
1. For the purpose of increasing the quality of the product landed, increasing energy efficiency, contributing to environmental protection or improving safety and working conditions, the EMFF may support the computerised management of fishing activities, the supply of fuel, water, ice and electricity, the storage and auction of fishing products, and investments improving fishing port infrastructure or landing sites, including investments in facilities for waste and marine litter collection.
2013/01/17
Committee: PECH
Amendment 1458 #

2011/0380(COD)

Proposal for a regulation
Article 41 – paragraph 2
2. In order to facilitate the use of unwanted catches the EMFF may support investments in fishing ports and shelters, landing sites and auction halls which enable to make the best use of unwanted catches of commercial stocks and which valorise under-used components of the fish caught, in line with Article 15 of the [Regulation on Common Fisheries Policy] and Article 8(b) of the [Regulation (EU) No on the common organisation of the markets in fishery and aquaculture products].
2013/01/17
Committee: PECH
Amendment 1473 #

2011/0380(COD)

Proposal for a regulation
Article 41 – paragraph 4
4. Support shall not cover the construction of new ports, or new landing sites or new auction halls.
2013/01/17
Committee: PECH
Amendment 1515 #

2011/0380(COD)

Proposal for a regulation
Article 43 – paragraph 1
Support under this Chapter shall contribute to achieving the Union priorities identified in Article 6(1), (2) and (4).
2013/01/17
Committee: PECH
Amendment 1524 #

2011/0380(COD)

Proposal for a regulation
Article 44 – paragraph 1
1. Support under this Chapter shall be limited to aquaculture enterprises and organisations of aquaculture producers unless otherwise expressly established.
2013/01/17
Committee: PECH
Amendment 1550 #

2011/0380(COD)

Proposal for a regulation
Article 45 – paragraph 1 – point b
b) developing or introducing in the market new or substantially improved products compared to the state of art, new or improved processes, new or improved management and organisation systems.
2013/01/17
Committee: PECH
Amendment 1565 #

2011/0380(COD)

Proposal for a regulation
Article 46 – title
Investments in off-shore and non-food aquaculture
2013/01/17
Committee: PECH
Amendment 1574 #

2011/0380(COD)

Proposal for a regulation
Article 46 – paragraph 1
1. In order to foster formsthe field of aquaculture, with high growth potential, the EMFF may support investment in the development of off-shore or non food aquaculture.hich includes shellfishing, the EMFF may support:
2013/01/17
Committee: PECH
Amendment 1580 #

2011/0380(COD)

Proposal for a regulation
Article 46 – paragraph 1 - point a (new)
a) productive investments in aquaculture;
2013/01/17
Committee: PECH
Amendment 1583 #

2011/0380(COD)

Proposal for a regulation
Article 46 – paragraph 1 - point b (new)
b) diversification of production and of the species exploited as well as studies on yield and location suitability;
2013/01/17
Committee: PECH
Amendment 1586 #

2011/0380(COD)

Proposal for a regulation
Article 46 – paragraph 1 - point c (new)
c) modernisation of aquaculture units, including improvements in working conditions and safety for aquaculture workers;
2013/01/17
Committee: PECH
Amendment 1587 #

2011/0380(COD)

Proposal for a regulation
Article 46 – paragraph 1 - point d (new)
d) improvement and modernisation with regard to animal health and welfare, including buying equipments to protect farms from wild predators;
2013/01/17
Committee: PECH
Amendment 1592 #

2011/0380(COD)

Proposal for a regulation
Article 46 – paragraph 1 - point e (new)
e) reducing the negative impact or improving the positive effects on the environment and increasing the efficiency of resources;
2013/01/17
Committee: PECH
Amendment 1595 #

2011/0380(COD)

Proposal for a regulation
Article 46 – paragraph 1 - point f (new)
f) investments in improving the quality of aquaculture products;
2013/01/17
Committee: PECH
Amendment 1597 #

2011/0380(COD)

Proposal for a regulation
Article 46 – paragraph 1 - point g (new)
g) restoring existing aquaculture reservoirs or lagoons by eliminating sediment, or possible measures towards the prevention of silt deposits.
2013/01/17
Committee: PECH
Amendment 1601 #

2011/0380(COD)

Proposal for a regulation
Article 46 – paragraph 1 a (new)
1 a. The support provided for in paragraph 1 may be granted in order to increase the production and modernisation of existing farms or the construction of other new farms, provided that development is compatible with environmental protection under EU law and strategic planning for aquaculture development by the competent authorities of the Member States.
2013/01/17
Committee: PECH
Amendment 1604 #

2011/0380(COD)

Proposal for a regulation
Article 46 – paragraph 2
2. The Commission shall be empowered to adopt delegatedimplementing acts in accordance with Article 150 in order to1(3) for the purpose of identifying the type of operations and the eligible costs.
2013/01/17
Committee: PECH
Amendment 1608 #

2011/0380(COD)

Proposal for a regulation
Article 47 – paragraph 1 – point a
a) adding value to aquaculture products, in particular by allowsupporting the aquaculture enterprise toin carrying out the processing, or in establishing associations or association agreements for the processing, marketing and direct sale of its own aquaculture production;
2013/01/17
Committee: PECH
Amendment 1619 #

2011/0380(COD)

Proposal for a regulation
Article 47 – paragraph 1 – point c
(c) diversification of the income of aquaculture enterprises through the development of complementary activities outside aquacultureinfrastructures and activities.
2013/01/17
Committee: PECH
Amendment 1624 #

2011/0380(COD)

Proposal for a regulation
Article 47 – paragraph 2
2. Support under paragraph 1(c) shall be granted only to aquaculture enterprises provided that the complementary activities outside aquaculture relate to the core aquaculture business of enterprise,production and/or its marketing such as angling, tourism, aquaculture environmental services or educational activities on aquaculture.
2013/01/17
Committee: PECH
Amendment 1634 #

2011/0380(COD)

Proposal for a regulation
Article 48 – paragraph 2 – point e a (new)
e a) the promotion of equal opportunities, especially with regard to gender equality and the integration of disabled people;
2013/01/17
Committee: PECH
Amendment 1637 #

2011/0380(COD)

Proposal for a regulation
Article 48 – paragraph 2 – point e b (new)
e b) the improvement of working conditions, including reconciling work with family life.
2013/01/17
Committee: PECH
Amendment 1645 #

2011/0380(COD)

Proposal for a regulation
Article 48 – paragraph 3
3. Support under paragraph (1)(a) shall only be granted to public law bodies selected to set up the farm advisory services or other organisations recognised by the Member States. Support under paragraph (1)(b) shall only be granted to aquaculture SMEs or aquaculture producer's organisations, associations of aquaculture producers, aquaculture producer's organisations, or organisations recognised by the Member State provided that the advice is provided by organisations or bodies with scientific or technical competence.
2013/01/17
Committee: PECH
Amendment 1661 #

2011/0380(COD)

Proposal for a regulation
Article 49 – paragraph 1 – point b
(b) networking and exchange of experience and best practice among aquaculture enterprises or professional organisations and other stakeholders, including scientific and training bodies or those promoting equal opportunities between men and women.
2013/01/17
Committee: PECH
Amendment 1666 #

2011/0380(COD)

Proposal for a regulation
Article 49 – paragraph 2
2. Support referred to in paragraph 1(a) shall not be granted to large aquaculture enterpriseprimarily to initiatives that share knowledge with SMEs.
2013/01/17
Committee: PECH
Amendment 1667 #

2011/0380(COD)

Proposal for a regulation
Article 49 – paragraph 2 a (new)
2a. The support may be granted also to public, semi-public and other organisations recognised by the Member States.
2013/01/17
Committee: PECH
Amendment 1677 #

2011/0380(COD)

Proposal for a regulation
Article 50 – paragraph 1 – point b
(b) improvement of infrastructures of aquaculture areas including throughinvestment in land consolidation, energy supply or water management;
2013/01/17
Committee: PECH
Amendment 1683 #

2011/0380(COD)

Proposal for a regulation
Article 50 – paragraph 2
2. Beneficiaries of support under this Article shall only be public law bodies or private organisations recognised to that effect by the Member State.
2013/01/17
Committee: PECH
Amendment 1714 #

2011/0380(COD)

Proposal for a regulation
Article 52 – paragraph 1 – point c
(c) the purchase of the equipment protecting aquaculture farms from wild predators benefitting from protection under Council and European Parliament Directive 2009/147/EEC and Council Directive 92/43/EC and from other wild predators;
2013/01/17
Committee: PECH
Amendment 1725 #

2011/0380(COD)

Proposal for a regulation
Article 53 – paragraph 1 – point b
(b) the participation in the Union eco- management and audit schemes such as those established by Regulation (EC) No 761/2001 of the European parliament and of the council of 19 March 2001 allowing voluntary participation by organisations in a Community eco-management and audit scheme (EMAS) .;
2013/01/17
Committee: PECH
Amendment 1727 #

2011/0380(COD)

Proposal for a regulation
Article 53 – paragraph 1 – point b a (new)
ba) the drafting of public standards and specifications that define the characteristics and rules necessary for registration as organic farming.
2013/01/17
Committee: PECH
Amendment 1728 #

2011/0380(COD)

Proposal for a regulation
Article 53 – paragraph 2
2. Support shall only be granted to beneficiaries who commit themselves for a minimum of 35 years to participate in the EMAS or for a minimum of 5 years to comply with the requirements of organic production.
2013/01/17
Committee: PECH
Amendment 1734 #

2011/0380(COD)

Proposal for a regulation
Article 53 – paragraph 4 – point b
(b) the additional costs resulting from the application and preparationtangible investment to the participation in EMAS in the case of operations eligible under paragraph 1(b).
2013/01/17
Committee: PECH
Amendment 1739 #

2011/0380(COD)

Proposal for a regulation
Article 54 – paragraph 1 – point b
(b) costs arising from participation in ex- situ conservation and reproduction of aquatic animals, within the framework of conservation and biodiversity restoration programmes developed by public authorities, or under their supervision;
2013/01/17
Committee: PECH
Amendment 1746 #

2011/0380(COD)

Proposal for a regulation
Article 54 – paragraph 1 – point c
(c) forms of extensive aquaculture includingaimed at conservation and improvement of the environment, biodiversity, and management of the landscape and traditional features of aquaculture zones.
2013/01/17
Committee: PECH
Amendment 1750 #

2011/0380(COD)

Proposal for a regulation
Article 54 – paragraph 2
2. Support under paragraph 1 (a) shall take the form of annual compensation for the additional costs incurred and/or income foregone resulting from management requirements in the areas concerned, related to the implementation of Council Directive 92/43/EEC or Council and European Parliament Directive 2009/147/EC.
2013/01/17
Committee: PECH
Amendment 1757 #

2011/0380(COD)

Proposal for a regulation
Article 55 – paragraph 2 – introductory part
2. Support may only be granted where the suspension of harvesproduction and marketing due to contamination of molluscs is the result of the proliferation of toxin- producing plankton or the presence of plankton containing biotoxins, and when:
2013/01/17
Committee: PECH
Amendment 1762 #

2011/0380(COD)

Proposal for a regulation
Article 55 – paragraph 2 – point b
(b) the loss, resulting from the suspension of the harvest, amounts to more than 315 % of the annual turnover of the business concerned, calculated on the basis of the average turnover of the business over the preceding three years, or in the prior activity period, when the company has a lower implementation period. Member States may establish special rules for calculation in companies with less than one year of activity.
2013/01/17
Committee: PECH
Amendment 1772 #

2011/0380(COD)

Proposal for a regulation
Article 56 – paragraph 1 – point c
(c) increasing the availability of veterinary medicines for its controlled and sustainable use in aquaculture and promoting appropriate use of such medicines, particularly through the commissioning of pharmaceutical studies and the dissemination and exchange of information.
2013/01/17
Committee: PECH
Amendment 1777 #

2011/0380(COD)

Proposal for a regulation
Article 56 – paragraph 4
4. Support may also be granted to public law bodies and to health protection groups in the aquaculture sector.
2013/01/17
Committee: PECH
Amendment 1796 #

2011/0380(COD)

Proposal for a regulation
Article 57 – paragraph 1 – point d a (new)
da) Pollution caused by an external incident outside the aquaculture farm;
2013/01/17
Committee: PECH
Amendment 1798 #

2011/0380(COD)

Proposal for a regulation
Article 57 – paragraph 1 – point d b (new)
db) collection, burial and destruction of dead animals on the aquaculture farm due to the aforementioned causes or to slaughter for animal health reasons and with prior official authorisation.
2013/01/17
Committee: PECH
Amendment 1803 #

2011/0380(COD)

Proposal for a regulation
Article 57 – paragraph 2 – subparagraph 1
The occurrence of an adverse climatic event or the outbreak of disease in aquacultur, a pollution accident or any of the relevant circumstances provided for in the preceding paragraph in aquaculture for which the producers are not responsible shall be formally recognised as such by the Member State concerned.
2013/01/17
Committee: PECH
Amendment 1815 #

2011/0380(COD)

Proposal for a regulation
Article 58 – paragraph 1
The EMFF shall support the sustainable development of fisheries areas, including aquaculture areas and those intended for related activities, following a community- led local development approach as set out in Article 28 of the [Regulation (EU) No [...] laying down Common Provisions].
2013/01/17
Committee: PECH
Amendment 1822 #

2011/0380(COD)

Proposal for a regulation
Article 60 – title
FisheriesPreferential areas
2013/01/17
Committee: PECH
Amendment 1825 #

2011/0380(COD)

Proposal for a regulation
Article 60 – paragraph 1 – introductory part
1. AThe support may prioritise or be restricted to fisheries, area eligiblquaculture for support shall be:related activities.
2013/01/17
Committee: PECH
Amendment 1833 #

2011/0380(COD)

Proposal for a regulation
Article 61 – paragraph 1
1. For the purposes of the EMFF, the integrated local development strategy referred to in Article 28(1)(c) of [Regulation (EU) No […] laying down Common Provisions] shall be based on the interaction between actors and projects of different sectors of the local economy, in particular the fisheries and aquaculture sectorsthe fisheries and aquaculture sectors, as well as other sectors of the local economy;
2013/01/17
Committee: PECH
Amendment 1835 #

2011/0380(COD)

Proposal for a regulation
Article 61 – paragraph 2 – point a
(a) maximise the participation of the fisheries and aquaculture sectors in the sustainable development of coastal and inland fisheries areas;
2013/01/17
Committee: PECH
Amendment 1838 #

2011/0380(COD)

Proposal for a regulation
Article 61 – paragraph 2 – point b
(b) ensure that local communities fully exploit and benefit from the opportunities offered by maritime and coastal and inland development, where appropriate.
2013/01/17
Committee: PECH
Amendment 1842 #

2011/0380(COD)

Proposal for a regulation
Article 61 – paragraph 3
3. The strategy must be coherent with the opportunities and needs identified in the area and the Union priorities for the EMFF. Strategies may range from those which focus on fisheries to broader strategies directed at the diversification of fisheries areas. The strategy shall go beyond a mere collection of operations or juxtaposition of sectoral measures.
2013/01/17
Committee: PECH
Amendment 1845 #

2011/0380(COD)

Proposal for a regulation
Article 61 – paragraph 5
5. The Commission shall be empowered to adopt delegated acts in accordance with Article 150 concerning the content of the action plan referred to in Article 29(1)(e) of the [Regulation (EU) No […] laying down Common Provisions].
2013/01/17
Committee: PECH
Amendment 1856 #

2011/0380(COD)

Proposal for a regulation
Article 62 – paragraph 3 – point b
(b) ensure a significantmajority representation of fisheries and aquaculture sectors.
2013/01/17
Committee: PECH
Amendment 1860 #

2011/0380(COD)

Proposal for a regulation
Article 63 – paragraph 2
2. Local action groups may request the payment of an advance from the competent paying agency if such possibility is provided for in the operational programme. The amount of the advances shall not exceed 50% of the public support related to the running and activity costs.
2013/01/17
Committee: PECH
Amendment 1867 #

2011/0380(COD)

Proposal for a regulation
Article 65 – paragraph 1 – point b
(b) supporting diversification and job creation in fisheries areas, in particular in other maritime sector, aquaculture and other related activities;
2013/01/17
Committee: PECH
Amendment 1871 #

2011/0380(COD)

Proposal for a regulation
Article 65 – paragraph 1 – point c
(c) enhancing and capitalising on the environmental assets of the fisheries and aquaculture areas including operations to mitigate climate change;
2013/01/17
Committee: PECH
Amendment 1874 #

2011/0380(COD)

Proposal for a regulation
Article 65 – paragraph 1 – point d
(d) promoting social well being and cultural heritage in fisheries, areasquaculture and other related activities, including maritime cultural heritage;
2013/01/17
Committee: PECH
Amendment 1875 #

2011/0380(COD)

Proposal for a regulation
Article 65 – paragraph 1 – point e
(e) strengthening the role of fisheries communities in the fisheries sector in local development and the governance of local fisheries resources and maritime activities.
2013/01/17
Committee: PECH
Amendment 1878 #

2011/0380(COD)

Proposal for a regulation
Article 65 – paragraph 2
2. The support given may include measures provided for Chapters I, II and IIV of this Title, provided there is a clear rational for their management at local level. When assistance is granted for operations corresponding to these measures, the relevant conditions and the scales of contribution per operation laid down in Chapters I, II and IIV of this Title shall apply.
2013/01/17
Committee: PECH
Amendment 1891 #

2011/0380(COD)

Proposal for a regulation
Article 68 – paragraph 1
Support under this Chapter shall contribute to achieve the specific objectives of Chapter I and Chapter II of this Title, including marketing and processing activities.
2013/01/17
Committee: PECH
Amendment 1911 #

2011/0380(COD)

Proposal for a regulation
Article 69 – paragraph 2
2. Expenditure related to production and marketing plans shall be eligible for a contribution under the EMFF only after approval by the competent authorities in each Member State of the annual report referred to in Article 32(45) of [Regulation (EU) No on the common organisation of the markets in fishery and aquaculture products].
2013/01/17
Committee: PECH
Amendment 1913 #

2011/0380(COD)

Proposal for a regulation
Article 69 – paragraph 3
3. Support granted per year under this Article shall not exceed 3 % of the average annual value of the marketed production at first sale ofproducts placed on the market by each producer organisation during the period 2009-20113 previous years. For any newly recognised producer organisation, the support granted per year shall not exceed 3 % of the average annual value of the marketed production at first saleproducts placed ofn their members market during the period 2009-20113 previous years.
2013/01/17
Committee: PECH
Amendment 1915 #

2011/0380(COD)

Proposal for a regulation
Article 69 – paragraph 4
4. The Member State concerned may grant an advance of 50% of the financial assistance after approval of the production and marketing plan in conformity with Article 32(23) of [Regulation (EU) No on the common organisation of the markets in fishery and aquaculture products].
2013/01/17
Committee: PECH
Amendment 1919 #

2011/0380(COD)

Proposal for a regulation
Article 70 – paragraph 1 – introductory part
1. The EMFF may support compensation to recognised producer organisations and associations of producers organisations which store fishery and aquaculture products listed in Annex II of Regulation No. [ on the common organisation of the market in fishery and aquaculture products], provided that the products are stored in conformity with Articles 35 and 36 of Regulation No …[on the common organisation of the markets in fishery and aquaculture products] and:
2013/01/17
Committee: PECH
Amendment 1927 #

2011/0380(COD)

Proposal for a regulation
Article 70 – paragraph 1 – point c – introductory part
(c) the financial assistance per year shall not exceed the following percentages2% of the average annual value of the marketed production at first sale of the members of producer organisation in the period 2009- 2011. In the case that members of producer organisation did not have any marketed production in 2009- 2011, the average annual value of marketed production in the first three years of production of such member shall be taken into account: – 1% in 2014 – 0,8 % in 2015 – 0,6 % in 2016 – 0,4 % in 2017 – 0,2 % in 2018.
2013/01/17
Committee: PECH
Amendment 1939 #

2011/0380(COD)

Proposal for a regulation
Article 70 – paragraph 2
2. By 2019 support referred to in paragraph 1 shallmay be phased out, following an impact assessment.
2013/01/17
Committee: PECH
Amendment 1940 #

2011/0380(COD)

Proposal for a regulation
Article 70 – paragraph 3
3. The support shall only be granted once the products are released for human consumption directly or through the processing industry.
2013/01/17
Committee: PECH
Amendment 1941 #

2011/0380(COD)

Proposal for a regulation
Article 70 – paragraph 4 – subparagraph 1 (new)
The Commission shall be responsible for implementing measures to ensure that technical and financial costs are calculated equally in the Member States.
2013/01/17
Committee: PECH
Amendment 1946 #

2011/0380(COD)

Proposal for a regulation
Article 71 – paragraph 1 – point a – introductory part
(a) finding new markets and improving the conditions for the placing on the market of:
2013/01/17
Committee: PECH
Amendment 1957 #

2011/0380(COD)

Proposal for a regulation
Article 71 – paragraph 1 – point a – point iii
(iii) local and seasonal products and products obtained using methods with low impact on the environment or organic aquaculture products as defined in Council Regulation(EC) No 834/2007 on organic production.
2013/01/17
Committee: PECH
Amendment 1964 #

2011/0380(COD)

Proposal for a regulation
Article 71 – paragraph 1 – point b – point ii
(ii) certification and promotion including of, in the EU and in third countries, including of local and seasonal sustainable fishery and aquaculture products and of environmentally friendly processing methods;
2013/01/17
Committee: PECH
Amendment 1969 #

2011/0380(COD)

Proposal for a regulation
Article 71 – paragraph 1 – point b – point iii
(iii) direct marketing of fishery products by small scale coastal and grassroots fishermen;
2013/01/17
Committee: PECH
Amendment 1973 #

2011/0380(COD)

Proposal for a regulation
Article 71 – paragraph 1 – point b – point iii a (new)
iii a) improving public health conditions and product quality;
2013/01/17
Committee: PECH
Amendment 1978 #

2011/0380(COD)

Proposal for a regulation
Article 71 – paragraph 1 – point c a (new)
c a) the marketing of products obtained through new or substantially improved management and organisational processes and systems with regard to the most advanced techniques and the development of projects that aim to enable companies and their representative associations to access research, development and innovation;
2013/01/17
Committee: PECH
Amendment 1981 #

2011/0380(COD)

Proposal for a regulation
Article 71 – paragraph 1 – point e
(e) creating, operating and developing the competences of producers’ organisations, associations of producer organisations or inter-branch organisations recognised under Chapter II, Section III of Regulation [on the Common Organisation of the markets in fisheries and aquaculture products];
2013/01/17
Committee: PECH
Amendment 1985 #

2011/0380(COD)

Proposal for a regulation
Article 71 – paragraph 1 – point f
(f) conducting media campaigns and regional, national or transnational promotional campaigns for fishery and aquaculture products.
2013/01/17
Committee: PECH
Amendment 1991 #

2011/0380(COD)

Proposal for a regulation
Article 71 – paragraph 1 – point f a (new)
(fa) the organisation of and participation in international trade fairs and events for the sector;
2013/01/17
Committee: PECH
Amendment 1997 #

2011/0380(COD)

Proposal for a regulation
Article 72 – paragraph 1 – point -a a (new)
-a a) to increase production capacity and improve the competitiveness and economic viability of enterprises;
2013/01/17
Committee: PECH
Amendment 1999 #

2011/0380(COD)

Proposal for a regulation
Article 72 – paragraph 1 – point -a (new)
(-a) contributing to research in companies and industry organisations;
2013/01/17
Committee: PECH
Amendment 2002 #

2011/0380(COD)

Proposal for a regulation
Article 72 – paragraph 1 – point a a (new)
a a) improving working conditions and facilitating dialogue and cooperation among stakeholders;
2013/01/17
Committee: PECH
Amendment 2007 #

2011/0380(COD)

Proposal for a regulation
Article 72 – paragraph 1 – point b
(b) for the processing of species of limited or no commercial interurplus and underexploited speciest;
2013/01/17
Committee: PECH
Amendment 2020 #

2011/0380(COD)

Proposal for a regulation
Article 72 – paragraph 1 – point d a (new)
da) that lead to innovation through new or improved products, new or improved processes or new or improved management and organisational systems;
2013/01/17
Committee: PECH
Amendment 2027 #

2011/0380(COD)

Proposal for a regulation
Article 72 – paragraph 1 – point d b (new)
db) improved worker training, especially in more advanced techniques, new processes and innovative management and organisational systems.
2013/01/17
Committee: PECH
Amendment 2043 #

2011/0380(COD)

Proposal for a regulation
Article 72 – paragraph 1 a (new)
1a. The EMFF may also grant aid to companies, associations and technology centres representing this sector to conduct research, development and innovation activities, at least as regards the activities referred to in point 1 of this Article.
2013/01/17
Committee: PECH
Amendment 2075 #

2011/0380(COD)

Proposal for a regulation
Article 78 – paragraph 2 – point b
(b) development, purchase and installation of the components necessary to ensure data transmission from actors involved in fishing and the marketing of fishery products to the relevant Member State and EU authorities, including the necessary components for electronic recording and reporting systems (ERS), vessel monitoring systems (VMS), and automatic identification systems (AIS) used for control purposes;
2013/01/17
Committee: PECH
Amendment 2078 #

2011/0380(COD)

Proposal for a regulation
Article 78 – paragraph 2 – point c
(c) development, purchase and installation of the components necessary to ensure traceability of fishery and aquaculture products, as defined in Art. 58 of Council Regulation (EC) No 1224/2009;
2013/01/17
Committee: PECH
Amendment 2083 #

2011/0380(COD)

Proposal for a regulation
Article 78 – paragraph 2 – point g
(g) development of innovative monitoring projects, implementation of pilot projects related to fisheries control, including fish DNA analysis or the development of web- sites related to control;
2013/01/17
Committee: PECH
Amendment 2088 #

2011/0380(COD)

Proposal for a regulation
Article 78 – paragraph 2 – point j a (new)
ja) Operating costs incurred by strengthening the monitoring of fisheries subject to specific monitoring and inspection programmes in accordance with Article 95 of Council Regulation (EC) No 1224/2009.
2013/01/17
Committee: PECH
Amendment 2102 #

2011/0380(COD)

Proposal for a regulation
Article 79 – paragraph 2 – point a
(a) the collection, management and use of data for the purpose of scientific analysis and CFP implementation;
2013/01/17
Committee: PECH
Amendment 2107 #

2011/0380(COD)

Proposal for a regulation
Article 79 – paragraph 2 – point b
b) national and transnational multi-annual sampling programmes;
2013/01/17
Committee: PECH
Amendment 2110 #

2011/0380(COD)

Proposal for a regulation
Article 79 – paragraph 2 – point c
(c) at-sea monitoring of commercial and recreational fisheries, including the monitoring of by-catches of marine organisms and birds;
2013/01/17
Committee: PECH
Amendment 2120 #

2011/0380(COD)

Proposal for a regulation
Article 79 – paragraph 2 – point e a (new)
ea) improvement of data collection and management systems and the conduct of experimental studies for improving existing data collection and management systems.
2013/01/17
Committee: PECH
Amendment 2147 #

2011/0380(COD)

Proposal for a regulation
Article 81 – paragraph 1 – point b – point i
(i) integrated maritime surveillance to enhance security, effectiveness and efficiency through information exchange across sectors and borders while taking due account of existing and future systemcooperation mechanisms and systems; promoting the best use of existing programmes in the EU and in Member States so as to optimise existing resources, building on existing synergies and avoiding duplication of efforts;
2013/01/17
Committee: PECH
Amendment 2187 #

2011/0380(COD)

Proposal for a regulation
Article 86 – paragraph 2 – point b
(b) expenditure relating to the assessment and development of new control technologies as well as processes for the exchange of data between authorities and institutions with responsibilities in areas such as security, rescue and control in the European Union;
2013/01/17
Committee: PECH
Amendment 2188 #

2011/0380(COD)

Proposal for a regulation
Article 88 – title
Advisory Councils and Committees
2013/01/17
Committee: PECH
Amendment 2191 #

2011/0380(COD)

Proposal for a regulation
Article 88 – paragraph 1
1. The EMFF mayshall support operating costs of the Advisory Committee on Fisheries and Aquaculture, and Advisory Councils as set up by Article 52 of [Regulation on Common Fisheries Policy], as well as an Advisory Committee and/or Council on markets, trade and industry.
2013/01/17
Committee: PECH
Amendment 2195 #

2011/0380(COD)

Proposal for a regulation
Article 88 – paragraph 2
2. An Advisory Council and/or Committee having legal personality may apply for Union support as a body pursuing an aim of general European interest.
2013/01/17
Committee: PECH
Amendment 2225 #

2011/0380(COD)

Proposal for a regulation
Article 95 – paragraph 2 – introductory part
2. By way of derogation from paragraph 1, Member States shall apply an intensity of public aidcontribution of 100 % of the eligible public expenditure of the operation where:
2013/01/17
Committee: PECH
Amendment 2247 #

2011/0380(COD)

Proposal for a regulation
Article 96 – paragraph 1
1. In addition to the general rules of Article 72 of [Regulation (EU) No [...] laying down Common Provisions], and following the Commission decision approving the operational programme, an initial pre- financing amount for the whole programming period shall be paid by the Commission. This shall represent 47 % of the contribution from the Union budget to the operational programme concerned. It may be split into two instalments depending on budget availability.
2013/01/17
Committee: PECH
Amendment 2258 #

2011/0380(COD)

Proposal for a regulation
Article 98 – paragraph 4
4. If one of the requirements laid down in paragraph 3 is not met, the Commission shall forthwith inform the accredited paying agency within 15 days. If one of the requirement laid down in point (a) or (c) of paragraph 3 is not met, the declaration of expenditure shall be inadmissible.
2013/01/17
Committee: PECH
Amendment 2268 #

2011/0380(COD)

Proposal for a regulation
Article 99 – paragraph 2
2. The balance shall be paid not later than six months from the month after the information and documents referred to in paragraph 1 are considered receivable by the Commission and the last annual account has been cleared. The amounts still committed after the balance is paid shall be decommitted by the Commission within a period of six months, without prejudice to Article 100.
2013/01/17
Committee: PECH
Amendment 2276 #

2011/0380(COD)

Proposal for a regulation
Article 102 – paragraph 3
3. By way of derogation from Article 55(7) of [Regulation (EU) No [...] laying down Common Provisions], expenditure which becomes eligible because of an amendment of the programme under Article 22(2), except on duly justified grounds of urgency, shall only be eligible as of 1st January of the year following the submission of the amendment.
2013/01/17
Committee: PECH
Amendment 2309 #

2011/0380(COD)

Proposal for a regulation
Article 108 – paragraph 1 – point b
(b) providing the Commission, on a quarterlyn annual basis, with relevant data on operations selected for funding, including key characteristics of the beneficiary and the operation itself;
2013/01/17
Committee: PECH
Amendment 2337 #

2011/0380(COD)

Proposal for a regulation
Article 114 – paragraph 3 – subparagraph 1 – point b
(b) on-the-spot controls of operations, in particular in the case of tangible investments.
2013/01/17
Committee: PECH
Amendment 2350 #

2011/0380(COD)

Proposal for a regulation
Article 118 – paragraph 1
In addition to the elements allowing for interruption listed in Article 74(1)(a) to (c) of [Regulation (EU) No [...] laying down Common Provisions], the authorising officer by delegation within the meaning of the [Financial Regulation] may interrupt the payment deadline for an interim payment claim for a maximum period of nine months if the Commission has adopted a decision by means of implementing act recognising that there is evidence to suggest that there is a case of non compliance by a Member State with obligations under the Common Fisheries Policy and which shall be liable todirectly affect the expenditure contained in a certified statement of expenditure for which the interim payment is requested;
2013/01/17
Committee: PECH
Amendment 2353 #

2011/0380(COD)

Proposal for a regulation
Article 119 – paragraph 1 – point e
(e) the Commission has adopted a decision by means of an implementing act recognising that a Member State has failed to comply with its obligations under the Common Fisheries Policy. Such non compliance shall be liable todirectly affect the expenditure contained in a certified statement of expenditure for which the interim payment is requested;
2013/01/17
Committee: PECH
Amendment 2355 #

2011/0380(COD)

Proposal for a regulation
Article 119 – paragraph 2
2. The Commission may decide, by means of implementing act, to suspend all or part of interim payments after having given the Member State the opportunity to present its observations within a period of two months. The Commission may lay down, by means of implementing acts adopted in accordance with the examination procedure referred to in Article 151(3), detailed rules on the part of the payments which may be suspended. These amounts shall be proportionate to the nature and importance of the deficiency, irregularity or non- compliance by the Member State, as well as to the amount of time that has elapsed since it took place.
2013/01/17
Committee: PECH
Amendment 2420 #

2011/0380(COD)

Proposal for a regulation
Article 143 – paragraph 1 – introductory part
1. The paying agency, in collaboration with the managing authority, shall be responsible in accordance with Article 108(1)(i) for:
2013/01/17
Committee: PECH
Amendment 2440 #

2011/0380(COD)

Proposal for a regulation
Annex 1 – table 1 - line 8
Type of operations Percentage points Operations performed by companies 20 15 considered to be outside the definition of SMEs: a reduction of
2013/01/17
Committee: PECH
Amendment 2446 #

2011/0380(COD)

Proposal for a regulation
Article 96 - paragraph 1
By way of derogation from Article 55(7) of [Regulation (EU) No [...] laying down Common Provisions], expenditure which becomes eligible because of an amendment of the programme under Article 22(2) of this regulation shall, except on grounds of urgency, only be eligible as of 1st January of the year following the submission of the amendment by the Member State to the Commission in accordance with Article 24(1).
2013/06/07
Committee: PECH
Amendment 2453 #

2011/0380(COD)

Proposal for a regulation
Article 102 - paragraph 1
1. In addition to Article 134 of [Regulation (EU) No [...] laying down Common Provisions], the Commission may suspend, by means of an implementing act, all or part of the interim payments of the operational programme where ithe Commission has adopted a decision by means of an implementing act recognising that a Member State has failed to comply seriously and regularly with its obligations under the Common Fisheries Policy. Such non compliance shall be liable to affect the expenditure contained in a certified statement of expenditure for which the interim payment is requested;.
2013/06/07
Committee: PECH
Amendment 2456 #

2011/0380(COD)

Proposal for a regulation
Article 102 - paragraph 2
2. The Commission may lay down, by means of implementing acts adopted in accordance with the examination procedure referred to in Article 128(3), detailed rules on the part of the payments which may be suspended. These amounts of those payments shall be proportionate to the nature and importanceseriousness or regularity of the deficiency, irregularity or non-compliance by the Member State.
2013/06/07
Committee: PECH
Amendment 2464 #

2011/0380(COD)

Proposal for a regulation
Article 103 - paragraph 1
1. The Commission shall be empowered to adopt delegated acts in accordance with Article 127 defintailing the cases of non compliance referred to in Article 101 and 102(1)(e), including listing the relevant the provisions of the CFP which are essential to the conservation of marine biological resources. Interruption or suspension resulting from these cases shall be proportionate to the nature, extent, duration and repetition of the non-compliance.
2013/06/07
Committee: PECH
Amendment 2467 #

2011/0380(COD)

Proposal for a regulation
Article 106 - paragraph 1 - point a
a) expenditure contained in a certified statement of expenditure is affected by other the cases of material non compliance with CFP rules by beneficiary, and has not been corrected by the Member State prior to the opening of the correction procedure under this paragraph. Financial correction resulting from these cases shall be proportionate to the nature, extent, duration and repetition of the non-compliance;
2013/06/07
Committee: PECH
Amendment 68 #

2011/0308(COD)

Proposal for a directive
Article 31 – paragraph 1
1. Member States may exempt small undertakings that are not operating on cross-border basis nor receive any kind of grants from Community funds from the obligation to publish their profit and loss accounts and management reports as long as the relevant statistical information can be obtained by other means.
2012/04/25
Committee: ECON
Amendment 83 #

2011/0308(COD)

Proposal for a directive
Article 36 – paragraph 1 – point 4
4. ‘Project’ is equivalent to a specific operational reporting unit at the lowest level within the undertaking at which regular internal management reports are prepared to monitor its business. and shall include each specific licence, concession, contract or other legal agreement between the company and the government where such agreement gives rise to specific revenue liabilities for the company
2012/04/25
Committee: ECON
Amendment 89 #

2011/0308(COD)

Proposal for a directive
Article 37 – paragraph 1
1. Member States shall require large undertakings and all public interest entities active in the extractive industry or the logging of primary forests to prepare and make public a report on payments made to governmentsor in other natural resources-based industries to prepare, have audited and make public a report on payments made to governments including those of countries where they operate and or have financial presence on an annual basis.
2012/04/25
Committee: ECON
Amendment 148 #

2011/0308(COD)

Proposal for a directive
Article 38 – paragraph 2 a (new)
2a. The following items should also be reported in relation to each project: (a) A list of subsidiaries’ names (b) Production volumes (c) Sales (d) Staff numbers and total staffing cost (e) Profits and assets.
2012/04/25
Committee: ECON
Amendment 182 #

2011/0308(COD)

Proposal for a directive
Article 41 – paragraph 1
The Commission shall review and report, report and where appropriate take the initiative to amend the present directive on the implementation and effectiveness of this Chapter, in particular as regards the scope of the reporting obligations and the modalities of the reporting on a project basis. The Commission should also assess the introduction of the requirements laid down in the present chapter to other industries. The review should also take into account international developments and consider the effects on competitiveness and security of energy supply. It should be completed at the latest five years after the date of entry into force of this Directive. The report shall be submitted to the European Parliament and the Council, together with a legislative proposal, if appropriate.
2012/04/25
Committee: ECON
Amendment 703 #

2011/0302(COD)

Proposal for a regulation
Annex – Part I – point b – row 10
North-West Bottleneck Rail works ongoing Spain and Portugal A Coruña – Vigo Bottleneck Rail works ongoing – Palencia Gijón – Palencia Bottleneck Rail works ongoing A Coruña – Bottleneck Rail works ongoing Madrid (high- speed passenger service)
2012/10/17
Committee: TRANITRE
Amendment 719 #

2011/0302(COD)

Proposal for a regulation
Annex – Part I – point b – rows 28 a-c (new)
Palencia – Other Core Rail Studies and Santander Network works Castejón – Other Core Rail Studies and Logroño – Network works Miranda Almería – Other Core Rail Studies and Málaga – Network works Algeciras (along the coast)
2012/10/17
Committee: TRANITRE
Amendment 221 #

2011/0298(COD)

Proposal for a directive
Recital 8
(8) It is appropriate to include in the list of financial instruments certainall commodity derivatives and others which are constituted and traded in such a manner as to give rise to regulatory issues comparable to traditional financial instruments.
2012/05/15
Committee: ECON
Amendment 251 #

2011/0298(COD)

Proposal for a directive
Recital 38
(38) It is necessary to strengthen the role of management bodies of investment firms in ensuring sound and prudent management of the firms, the promotion of the integrity of the market and the interest of investors. The management body of an investment firm should at all time commit sufficient time and possess adequate knowledge, skills and experience to be able to understand the business of the investment firm and its main risk. To avoid group thinking and facilitate critical challenge, management boards of investment firms should be sufficiently diverse as regards age, gender, provenance, education and professional background to present a variety of views and experiences. Gender balance is of a particular importance to ensure adequate representation of demographical reality. Furthermore, Member States should adopt adequate legislation allowing to hold accountable members of management bodies in case of severe mismanagement.
2012/05/15
Committee: ECON
Amendment 359 #

2011/0298(COD)

Proposal for a directive
Recital 108
(108) Technical standards in financial services should ensure consistent harmonisation and adequate protection of depositors, investors and consumers across the Union. As a body with highly specialised expertise, it would be efficient and appropriate to entrust ESMA, with the elaboration of draft regulatory and implementing technical standards which do not involve policy choices, for submission to the Commission. To ensure consistent investor and consumer protection across financial services sectors, ESMA should carry out its tasks, to the extent possible, in close cooperation with the other two ESAs within the framework of the Joint Committee.
2012/05/15
Committee: ECON
Amendment 503 #

2011/0298(COD)

Proposal for a directive
Article 5 – paragraph 4 a (new)
4a. Member States shall require that individuals providing investment advice, independent investment advice or, where appropriate, ancillary investment advice to clients, possess an appropriate level of knowledge and competences based on recognised qualifications.
2012/05/15
Committee: ECON
Amendment 527 #

2011/0298(COD)

Proposal for a directive
Article 9 – paragraph 3
3. Member States shall require investment firms to take into account diversity as one of the criteria for selection of members of the management body. In particular, taking into account the size of their management body, investment firms shall put in place a policy promoting gender, age, educational, professional and geographical diversity on the management body. Member States shall furthermore adopt adequate legislation allowing to hold accountable members of management bodies in case of severe mismanagement.
2012/05/15
Committee: ECON
Amendment 542 #

2011/0298(COD)

Proposal for a directive
Article 9 – paragraph 6 – subparagraph 1 – point c a (new)
(ca) define, approve and oversee the firm's remuneration of sales staff which should be designed to encourage responsible business conduct, fair treatment of consumers and to avoid conflicts of interest. The remuneration structure should be disclosed to customers where appropriate, such as where potential conflicts of interest cannot be managed or avoided;
2012/05/15
Committee: ECON
Amendment 738 #

2011/0298(COD)

Proposal for a directive
Article 24 – paragraph 5 – point i
(i) shall assess a sufficiently large number of financial instruments available on the market and provide advice which is unbiased and unrestricted. The financial instruments should be diversified with regard to their type and issuers or product providers and should not be limited to financial instruments issued or provided by entities having close links with the investment firm,
2012/05/15
Committee: ECON
Amendment 745 #

2011/0298(COD)

Proposal for a directive
Article 24 – paragraph 5 – point ii
(ii) shall not accept or receive fees, commissions or any monetary benefi, benefits or other inducements paid or provided by any third party or a person acting on behalf of a third party in relation to the provision of the service to clients.
2012/05/15
Committee: ECON
Amendment 754 #

2011/0298(COD)

Proposal for a directive
Article 24 – paragraph 5 a (new)
5 a. Member States shall ensure that the manner in which an investment firm remunerates its staff, appointed representatives or other investment firms does not impede compliance with its obligation to act in the best interests of clients. Member States shall ensure that where staff advise on or sell financial instruments to retail clients, the remuneration structures of the staff involved do not prejudice their ability to provide an objective recommendation, where relevant, or to provide information in a manner that is fair, clear and not misleading, including by ensuring that remuneration is not solely dependent on targets for the sale or profitability of financial instruments and does not otherwise give rise to undue conflicts of interest.
2012/05/15
Committee: ECON
Amendment 866 #

2011/0298(COD)

Proposal for a directive
Article 29 – paragraph 3 – subparagraph 2
Member States shall ensure that tied agents are only admitted to the public register if it has been established that they are of sufficiently good repute and that they possess appropriate general, commercial and professional knowledgelevel of knowledge and competences based on recognised qualifications so as to be able to communicate accurately all relevant information regarding the proposed service to the client or potential client.
2012/05/15
Committee: ECON
Amendment 943 #

2011/0298(COD)

Proposal for a directive
Article 41 – paragraph 3 a (new)
3 a. The third country can be considered to give equivalent and reciprocal recognition if all of the following conditions are met: (a) the recognition refers to the whole EU framework and access is provided on an equal basis to all EU countries; (b) the rights and duties imposed on the firms are similar in the EU and in the third country.
2012/05/15
Committee: ECON
Amendment 166 #

2011/0296(COD)

Proposal for a regulation
Recital 31
(31) Regulation [EMIR] sets out the criteria according to which classes of OTC derivatives should be subject to the clearing obligation. It also prevents competitive distortions by requiring non- discriminatory access to central counterparties (CCPs) offering clearing of OTC derivatives to trading venues and non-discriminatory access to the trade feeds of trading venues to CCPs offering clearing of OTC derivatives. As OTC derivatives are defined as derivatives contracts whose execution does not take place on a regulated market, there is a need to introduce similar requirements for regulated markets under this Regulation. Provided that ESMA has declared them subject to it, derivatives traded on regulated markets should also be subject to a clearing obligation.deleted
2012/05/14
Committee: ECON
Amendment 168 #

2011/0296(COD)

Proposal for a regulation
Recital 32
(32) In addition to requirements in Directive 2004/39/EC that prevent Member States from unduly restricting access to post-trade infrastructure such as CCP and settlement arrangements, it is necessary that this Regulation removes various other commercial barriers that can be used to prevent competition in the clearing of financial instruments. To avoid any discriminatory practices, CCPs should accept to clear transactions executed in different trading venues, to the extent that those venues comply with the operational and technical requirements established by the CCP. Access should only be denied if certain access criteria specified in delegated acts are not met.deleted
2012/05/14
Committee: ECON
Amendment 172 #

2011/0296(COD)

Proposal for a regulation
Recital 33
(33) Trading venues should also be required to provide access including data feeds on a transparent and non- discriminatory basis to CCPs that wish to clear transactions executed on the trading venue. Licensing and access to information about indices and other benchmarks that are used to determine the value of financial instruments should also be provided to CCPs and other trading venues on a non-discriminatory basis. The removal of barriers and discriminatory practices is intended to increase competition for clearing and trading of financial instruments in order to lower investment and borrowing costs, eliminate inefficiencies and foster innovation in Union markets. The Commission should continue to closely monitor the evolution of post-trade infrastructure and should, where necessary, intervene in order to prevent competitive distortions from occurring in the internal market.deleted
2012/05/14
Committee: ECON
Amendment 178 #

2011/0296(COD)

Proposal for a regulation
Recital 34
(34) The provision of services by third country firmsinvestment firms and market operators* in the Union is subject to national regimes and requirements. These regimes are highly differentiated and the firms authorised in accordance with them do not enjoy the freedom to provide services and the right of establishment in Member States other than the one where they are established. It is appropriate to introduce a common regulatory framework at Union level. The regime should harmonize the existing fragmented framework, ensure certainty and uniform treatment of third country firminvestment firms and market operators accessing the Union, ensure that and equivalence and reciprocity assessment has been carried out by the Commission in relation to the regulatory and supervisory framework of third countries and should provide for a comparable level of protections to investors in the EU receiving services by third country firms.investment firms and market operators. * (This amendment applies throughout the text. Adopting it will necessitate corresponding changes throughout.)
2012/05/14
Committee: ECON
Amendment 199 #

2011/0296(COD)

Proposal for a regulation
Article 1 – paragraph 4 a (new)
4 a. Title VII of this Regulation also applies to all financial counterparties as defined in Article 2 of Directive [new MiFID].
2012/05/14
Committee: ECON
Amendment 206 #

2011/0296(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 3
(3) ‘systematic internaliser’ means an investment firm which, on an organised, frequent and systematic basis, deals on own account by executing client orders outside a regulated market or an MTF or an OTFcarries out bilateral trading;
2012/05/14
Committee: ECON
Amendment 504 #

2011/0296(COD)

Proposal for a regulation
Article 23 – paragraph 7 – subparagraph 1 (new)
The competent authorities shall transmit all the information received pursuant to this Article to a single system, appointed by ESMA, for transaction reporting at Union level. The single system shall allow relevant competent authorities access to all the information reported pursuant to this Article.
2012/05/14
Committee: ECON
Amendment 518 #

2011/0296(COD)

Proposal for a regulation
Article 23 a (new)
Article 23 a Obligation to execute transactions on regulated markets or MTFs 1. An investment firm shall execute all its transactions on a regulated market or MTF, unless the transaction meets all of the following criteria: (a) it is ad-hoc (b) it is irregular (c) it is carried out with wholesale counterparties (d) it is part of a business relationship which itself is characterised by dealings above standard market size and where the deals are carried out outside the systems usually used by the firm concerned for its business as a systematic internaliser
2012/05/14
Committee: ECON
Amendment 598 #

2011/0296(COD)

Proposal for a regulation
Article 28
[...]deleted
2012/05/14
Committee: ECON
Amendment 621 #

2011/0296(COD)

Proposal for a regulation
Article 29
[...]deleted
2012/05/14
Committee: ECON
Amendment 657 #

2011/0296(COD)

Proposal for a regulation
Article 30
[...]deleted
2012/05/14
Committee: ECON
Amendment 705 #

2011/0296(COD)

Proposal for a regulation
Article 32 – paragraph 2 – subparagraph 1 – point a
(a) an investment product, a financial instrument or activity or practice gives rise to significant investor protection concerns or poses a serious threat to the orderly functioning and integrity of financial markets or the stability of whole or part of the financial system, or a derivative product has a detrimental effect on the price formation mechanism in the underlying market;
2012/05/14
Committee: ECON
Amendment 720 #

2011/0296(COD)

Proposal for a regulation
Article 32 a (new)
Article 32a Prohibition of certain financial instruments National competent authorities shall prohibit the marketing, distribution and sale of all financial instruments offering commodity index replications. This measure shall take effect six months after the entry into force of this Regulation.
2012/05/14
Committee: ECON
Amendment 819 #

2011/0296(COD)

Proposal for a regulation
Article 45 – paragraph 1 a (new)
1a. Title V of the present regulation shall not apply to intra-group transactions until 3 years after the entry into force of this regulation. For this purpose, conditions 2(a)(i) and 2(a)(iv), shall be removed from the definition of intra-group transactions in Article [2a] of Regulation [ ] (EMIR) during this 5 year period.
2012/05/14
Committee: ECON
Amendment 651 #

2011/0294(COD)

Proposal for a regulation
Article 47 – paragraph 1 – indent 2
– maritime ports; , including those that are strategically important for raw materials and foodstuffs;
2012/10/08
Committee: TRAN
Amendment 874 #

2011/0294(COD)

Proposal for a regulation
Annex I – Volume 16/33
add the port of Vigo to the core network
2012/10/11
Committee: TRAN
Amendment 877 #

2011/0294(COD)

Proposal for a regulation
Annex I – Volume 16/33
add the following sea ports to the comprehensive network: – Marín y Ría de Pontevedra – Vilagarcía de Arousa – Gandía – Alcudía – Guía de Isora – Salinetas – Arinaga
2012/10/11
Committee: TRAN
Amendment 878 #

2011/0294(COD)

add the following multimodal platforms to the comprehensive network: – Pontevedra – Zalia – Torrelavega – Júndiz – Monzón – El Vallés – El Prat – El Gorguel – Ciudad Real – Albacete – San Roque – Mérida – Ponferrada/El Bierzo – Castellón – Alicante – Benavente – Zamora – Miranda de Ebro – Burgos – Palencia – Área Central – Aranda de Duero – Soria – Arévalo – Ávila – Segovia
2012/10/11
Committee: TRAN
Amendment 887 #

2011/0294(COD)

Proposal for a regulation
Annex I – Volume 17/33
add the following airports to the core network: – Alicante – Gran Canaria – Málaga – Tenerife South (‘Tenerife Sur’) – Tenerife North (‘Tenerife Norte’) – Santiago de Compostela
2012/10/11
Committee: TRAN
Amendment 891 #

2011/0294(COD)

Proposal for a regulation
Annex I – Volume 17/33
add the following rail passenger transport sections to the core network: – Madrid – Toledo – Madrid – Alcázar – Albacete – Murcia – Almería – Málaga – Algeciras (along the coast) – Avilés – Oviedo – Bilbao – Santander – Oviedo – El Ferrol – A Coruña – Castejón – Logroño – Miranda – Mora – Alcázar – Linares – Moreda/Jaén/Córdoba – Ourense – Vigo (via Cercedo) – Ourense – Monforte – Lugo – A Coruña – Palencia – Santander – Segovia – Ávila – Sevilla – Cádiz – Sevilla – Huelva – Portuguese border – Valencia – Alicante (along the coast) – Motilla – Albacete – La Encina – Santiago – Vigo – Portuguese border – Granada – Motril – Antequera – Málaga – Madrid – Ávila – Salamanca – León – Monforte – Torralba – Soria – Castejón – Plasencia – León – Gijón
2012/10/11
Committee: TRAN
Amendment 894 #

2011/0294(COD)

add the following high-quality road sections to the comprehensive network: – Valladolid – Aranda de Duero – Soria – Ourense – Santiago – Ourense – Guntín – Ponferrada – Ourense – Monforte – Chantada – Astorga – León – Burgos – Burgos – Logroño – Pamplona – Ávila – Salamanca – León – Valladolid – Segovia – Valladolid – Ávila – Maqueda – Toledo – Ocaña – Tarancón – Cuenca – Teruel – Alfajarín – Fraga -Catalayud – Daroca – Alcolea del Pinar – Monreal del Campo – Badajoz – Zafra – Córdoba – Baena – Granada – Huelva – Jabugo – Zafra – Estepa – Lucena – Baena – Jaén – Úbeda – Blanca – Avarán – La Font de la Figuera – Alicante – Alcoy – Játiva – Elche – Cartagena – Vera – Figueras – Puigcerdá – Ávila – Villacastín – San Rafael – Segovia
2012/10/11
Committee: TRAN
Amendment 968 #

2011/0294(COD)

add Cagliari (IT), Heraklion (EL) Santander (ES), Vigo (ES) and Santa Cruz de Tenerife.
2012/10/11
Committee: TRAN
Amendment 16 #

2011/0284(COD)

Proposal for a regulation
Article 13 – introductory part
A Member State may decide to make the Common European Sales Law available as an optional instrument for:
2012/07/23
Committee: ECON
Amendment 17 #

2011/0284(COD)

Proposal for a regulation
Article 14 a (new)
Article 14a Toolbox By ... [1 year after the date of application of this Regulation], the Commission shall present a comprehensive 'toolbox' to complement the Common European Sales Law. That toolbox shall at least include a model contract with standard terms and conditions under the Common European Sales Law and information on how this Regulation interacts with Directive XXX/XXXX/EU of the European Parliament and of the Council of ... on alternative dispute resolution for consumers1 and Regulation (EU) No YYYY/YYYY of the European Parliament and of the Council of ... on online dispute resolution for consumer disputes2. __________________ 1 OJ L ... 2 OJ L ...
2012/07/23
Committee: ECON
Amendment 19 #

2011/0284(COD)

Proposal for a regulation
Article 15 – paragraph 1
1. By … [4 years after the date of application of this Regulation], Member States shall provide the Commission with information relating to the application of this Regulation, assessing in particular on the level of acceptance of the Common European Sales Law, whether it has resulted in reduced transaction costs, the extent to which its provisions have given rise to litigation and on the state of play concerning differences in the level of consumer protection between the Common European Sales Law and national law. That information shall include a comprehensive overview of the case law of the national courts interpreting the provisions of the Common European Sales Law.
2012/07/23
Committee: ECON
Amendment 20 #

2011/0284(COD)

Proposal for a regulation
Article 15 – paragraph 2
2. By … [5 years after the date of application of this Regulation], the Commission shall present to the European Parliament, the Council and the Economic and Social Committee a detailed report reviewing the operation of this Regulation, and taking account of, amongst others, the need to extend the scope in relation to business-to-business contracts, market and technological developments in respect of digital content and future developments of the Union acquis. The review shall, in particular, assess whether the application of the Common European Sales Law has helped to increase consumer confidence in cross-border trade and to reduce transaction costs. It shall also evaluate the impact on vulnerable consumers, and shall assess the extent to which the exceptions from the scope of the Common European Sales Law (such as issues relating to legal capacity, representation or transfer of ownership) have undermined the expected results. Furthermore, in order to maintain the high level of consumer protection under the Common European Sales Law, the report shall take due account of any changes made in the interim to Directive 2011/83/EU of the European Parliament and of the Council of 25 October 2011 on consumer rights1. __________________ 1 OJ L 304, 22.11.2011, p. 64.
2012/07/23
Committee: ECON
Amendment 21 #

2011/0284(COD)

Proposal for a regulation
Annex 1 – Article 1 – paragraph 2
2. Parties may exclude the application of any of the provisions of the Common European Sales Law, or derogate from or vary their effects, unless otherwise stated in those provisions.deleted
2012/07/23
Committee: ECON
Amendment 22 #

2011/0284(COD)

Proposal for a regulation
Annex I – Article 4 – paragraph 2
2. Issues within the scope of the Common European Sales Law but not expressly settled by it are to be settled in accordance with the objectives and the principles underlying it and all its provisions, without recourse to the national law that would be applicable in the absence of an agreement to use the Common European Sales Law or to any other law.
2012/07/23
Committee: ECON
Amendment 27 #

2011/0284(COD)

Proposal for a regulation
Annex 1 – Article 79 – paragraph 2
2. Where the contract can be maintained without the unfair contract term, the other contract terms remain binding on the party which has supplied the unfair contract term.
2012/07/23
Committee: ECON
Amendment 13 #

2011/0276(COD)

Proposal for a regulation
Recital 54
(54) In order to promote the Treaty objectives of economic, social and territorial cohesion, the 'Investment for growth and jobs' goal should support all regions. To provide balanced and gradual support and reflect the level of economic and social development, resources under that goal should be allocated from the ERDF and the ESF among the less developed regions, the transition regions and the more developed regions according to their gross domestic product (GDP) per capita in relation to the EU average. In order to ensure the long-term sustainability of investment from the Structural Funds and to drive economic growth and social cohesion in EU regions, regions whose GDP per capita for the 2007-2013 period was less than 75% of the average of the EU-25 for the reference period but whose GDP per capita has grown to more than 75% of the EU-27 average should receive at least two thirds of their 2007-2013 allocation, with a view to consolidating the development achieved. Member States whose per capita gross national income (GNI) is less than 90 % of that of the Union average should benefit under the 'Investment for growth and jobs' goal from the CF.
2012/06/04
Committee: PECH
Amendment 22 #

2011/0276(COD)

Proposal for a regulation
Article 84 – paragraph 1 – subparagraph 2
All regions whose GDP per capita for the 2007-2013 period was less than 75% of the average of the EU-25 for the reference period but whose GDP per capita is above 75% of the GDP average of the EU-27 shall receive an allocation under each of the Structural Funds equal to at least two thirds of their 2007-2013 allocation, with a view to consolidating the development achieved.
2012/06/04
Committee: PECH
Amendment 290 #

2011/0276(COD)

Proposal for a regulation
Recital 54
(54) In order to promote the Treaty objectives of economic, social and territorial cohesion, the 'Investment for growth and jobs' goal should support all regions. To provide balanced and gradual support and reflect the real level of economic and social development, resources under that goal should be allocated from the ERDF and the ESF among the less developed regions, the transition regions and the more developed regions according to their gross domestic product (GDP) per capita in relation to the EU average. In order to ensure the long- term sustainability of investment from the Structural Funds, and to encourage the economic growth and social cohesion of the European regions, regions whose GDP per capita for the 2007-2013 period was less than 75 % of the average of the EU-25 for the reference period but whose GDP per capita has grown to more than 75 % of the EU-27 average should receive at least two thirds of their 2007-2013 allocation for the purpose of consolidating the development achieved. Member States whose per capita gross national income (GNI) is less than 90 % of that of the Union average should benefit under the 'Investment for growth and jobs' goal from the CF. In the aim of reflecting the real impact of the crisis, it is necessary to revise the economic data used and introduce new criteria such as the rate of unemployment to allocate cohesion policy funds, and to introduce an adjustment clause that allows for revising the category of the regions during the period, depending on substantial changes in circumstances, so that greater support may be given to a region for any deterioration.
2012/06/04
Committee: REGI
Amendment 1238 #

2011/0276(COD)

Proposal for a regulation
Part 3 – article 84 – paragraph 1 – subparagraph 2
All regions whose GDP per capita for the 2007-2013 period was less than 75 % of the average of the EU-25 for the reference period but whose GDP per capita is above 75 % of the GDP average of the EU-27 shall receive an allocation under the Structural Funds equal to at least two thirds of their 2007-2013 allocation with the goal of consolidating the development achieved.
2012/06/05
Committee: REGI
Amendment 1245 #

2011/0276(COD)

Proposal for a regulation
Part 3 – article 84 – paragraph 1 – subparagraph 2
All regions whose GDP per capita for the 2007-2013 period was less than 75 % of the average of the EU-25 for the reference period but whose GDP per capita is above 75 % of the GDP average of the EU-27 shall receive an allocation underin each of the Structural Funds equal to at least two thirds of their 2007-2013 allocation.
2012/06/05
Committee: REGI
Amendment 78 #

2011/0203(COD)

Proposal for a directive
Article 1 – point c
(c) the prudential supervision of institutions by competent authorities in relation to risks not addressed by the uniforma manner that is compatible with the rules set out in Regulation [inserted by OP].
2012/03/07
Committee: ECON
Amendment 122 #

2011/0203(COD)

Proposal for a directive
Article 40 – paragraph 2
Such reports may only be required for information or statistical purposes and for the application of Article 52(1).
2012/03/07
Committee: ECON
Amendment 126 #

2011/0203(COD)

Proposal for a directive
Article 43 – paragraph 5 – subparagraph 2
Where competent authorities of the home Member State have legal objections under Union legislation against measures taken by the competent authorities of the host Member State and have adopted other measures to ensure the same level of protection according to paragraph 1, they may refer the matter to EBA and request its assistance in accordance with Article 19 of Regulation (EU) No 1093/2010. In that case, EBA may act in accordance with the powers conferred on it by that Article. Where it acts, EBA shall take any decision under Article 19(3) of Regulation (EU) No 1093/2010 within 24 hours.
2012/03/07
Committee: ECON
Amendment 127 #

2011/0203(COD)

Proposal for a directive
Article 43 – paragraph 6
6. The Commission may, after consulting the competent authorities of the Member States concerned and EBA, decide that the Member State in question may maintain or shall amend or abolish precautionary measures.
2012/03/07
Committee: ECON
Amendment 238 #

2011/0203(COD)

Proposal for a directive
Article 86 – paragraph 1 – subparagraph 1
Member States shall ensure that the management body defines and, oversees and is accountable for the implementation of the governance arrangements that ensure effective and prudent management of an institution, including the segregation of duties in the organisation and the prevention of conflicts of interest.
2012/03/07
Committee: ECON
Amendment 240 #

2011/0203(COD)

Proposal for a directive
Article 86 – paragraph 1 – subparagraph 2 – point a a (new)
(aa) the management body shall ensure the integrity of the accounting and financial reporting systems, including the independent audit, financial and operational control and compliance with the law and relevant standards;
2012/03/07
Committee: ECON
Amendment 241 #

2011/0203(COD)

Proposal for a directive
Article 86 – paragraph 1 – subparagraph 2 – point a b (new)
(ab) the management body shall oversee the process of disclosure and communications;
2012/03/07
Committee: ECON
Amendment 242 #

2011/0203(COD)

Proposal for a directive
Article 86 – paragraph 1 – subparagraph 2 – point b
(b) the management body shall be responsible for setting formal performance standards and providing effective oversight of senior management, it shall also meet them regularly and question and review critically their explanations and information;
2012/03/07
Committee: ECON
Amendment 244 #

2011/0203(COD)

Proposal for a directive
Article 86 – paragraph 1 – subparagraph 2 – point c
(c) the chairman of the management body of an institution shall notmay exercise simultaneously the functions of a chief executive officer within the same institution, unless justified and authorised if measures are taken to counterbalance his/her powers and unless justifiably forbidden by competent authorities.
2012/03/07
Committee: ECON
Amendment 258 #

2011/0203(COD)

Proposal for a directive
Article 86 – paragraph 2 – subparagraph 2 – point a
(a) identify and recommend, for the approval of the management body in its supervisory function, a sufficient broad population of candidates to fill management body vacancies. In doing so, the nomination committee shall evaluate the balance of knowledge, skills, diversity and experience of the management body, prepare a description of the roles and capabilities for a particular appointment, and assess the time commitment expected;
2012/03/07
Committee: ECON
Amendment 311 #

2011/0203(COD)

Proposal for a directive
Article 87 – paragraph 3
3. Competent authorities shall require institutions to take into account diversity as one of the criteria for selection of members of the management body. In particular, institutions shall put in place a policy that promotinges gender, age, geographical, educational and professional diversity, takes into account entrepreneurial thinking and initiative, and ensures a range of skills that guarantees the appropriate representation of shareholders and the consideration of stakeholders on the management body.
2012/03/07
Committee: ECON
Amendment 456 #

2011/0203(COD)

Proposal for a directive
Article 124 – paragraph 2
2. Institutions shall meet the requirement imposed by paragraph 1 with Common Equity Tier 1 capital, or provisions adopted in excess over expected losses composed of equivalent loss absorbing items suitable to be converted to Common Equity Tier 1 upon the occurrence of a trigger event, which shall be additional to any Common Equity Tier 1 capital maintained to meet the own funds requirement imposed by Article 87 of Regulation [inserted by OP(EU) No. .../2012 of ... [on prudential requirements for credit institutions and investment firms], the requirement to maintain a Capital Conservation Buffer under Article 123 and any requirement imposed under Article 100.
2012/03/07
Committee: ECON
Amendment 490 #

2011/0203(COD)

Proposal for a directive
Article 126 – paragraph 4 – subparagraph 3
By way of derogation from paragraph 3, the designated authority shall review the part of the countercyclical buffer rate based on the other variables referred to in point (c) of paragraph 3 on an annual basis only. That part shall not be taken into account by institutions established in another Member State for the purposes of calculating their institution specific countercyclical capital buffer.
2012/03/07
Committee: ECON
Amendment 350 #

2011/0202(COD)

Proposal for a regulation
Article 22 – paragraph 1 – point 20
(20) ‘operating entity’ means an functioning entity established with the purpose of earning a profit in its own right;
2012/03/07
Committee: ECON
Amendment 423 #

2011/0202(COD)

Proposal for a regulation
Article 34 – paragraph 1 – point b a (new)
(ba) The amount to be deducted shall be reduced by the amount of software programmes classified as intangible assets under the relevant international accounting standards.
2012/03/07
Committee: ECON
Amendment 526 #

2011/0202(COD)

Proposal for a regulation
Article 79 – paragraph 1 – point a – point i
(i) the amount of Common Equity Tier 1 capital of that subsidiary required to meet the sum of the requirement laid down in point (a) of Article 87(1) and the combined buffer referred to in Article 122(2) of Directive [inserted by OP]; and specific own funds requirements according to Article 100 of Directive [inserted by OP] as long the these requirements are met with Common Equity Tier 1 capital.
2012/03/08
Committee: ECON
Amendment 532 #

2011/0202(COD)

Proposal for a regulation
Article 79 – paragraph 1 – point a – point ii
(ii) the amount of consolidated Common Equity Tier 1 capital that relates to that subsidiary that is required on a consolidated basis to meet the sum of the requirement laid down in point (a) of Article 87(1) and the combined buffer referred to in Article 122(2) of Directive [inserted by OP]; and specific own funds requirements according to Article 100 of Directive [inserted by OP] as long the these requirements are met with Common Equity Tier 1 capital.
2012/03/08
Committee: ECON
Amendment 597 #

2011/0202(COD)

Proposal for a regulation
Article 96 – paragraph 3 – subparagraph 1 – point a
(a) uniform instructions for and formats, frequencies and dates of reporting of the items referred to in paragraph 1; in order to ensure consistency and comparability of reported losses
2012/03/08
Committee: ECON
Amendment 660 #

2011/0202(COD)

Proposal for a regulation
Article 119 – paragraph 1 – subparagraph 1
An exposure or any part of an exposure fully secured by mortgage on immovable property shall be assigned a risk weight of 100 %, where the conditions under Article 120 and Article 121 are not met, except for any part of the exposure which is assigned to another exposure class. Where the loan exceeds the value of the secured property, the exposure shall be assigned a risk weight proportionally higher than 100%.
2012/03/08
Committee: ECON
Amendment 674 #

2011/0202(COD)

Proposal for a regulation
Article 120 – paragraph 2 – point b
(b) the risk of the borrower does not materially depend upon the performance of the underlying property or project, but on the underlying capacity of the borrower to repay the debt from other sources, and as a consequence, the repayment of the facility does not materially depend on any cash flow generated by the underlying property serving as collateral. For those other sources, institutions shall determine maximum loan-to-income ratio as part of their lending policys taking into account borrower's assets and obtain suitable evidence of the relevant income and assets when granting the loan. Institutions shall have in place criteria regarding loan-to-value and debt-to- income ratios against which loan-to- income ratios can be weighted.
2012/03/08
Committee: ECON
Amendment 705 #

2011/0202(COD)

Proposal for a regulation
Article 123 – paragraph 2 – point c
(c) speculative immovable property financing as well as any other exposure to real state, such as the financing to second residential property, determined by the Member States taking into account the risk profile of a loan book, the accumulation of exposures in a market and the characteristics and evolution of the markets.
2012/03/08
Committee: ECON
Amendment 729 #

2011/0202(COD)

Proposal for a regulation
Article 142 – paragraph 5 – subparagraph 1 – point a – point ii
(ii) to a small or medium sized enterprise that fulfils the criteria laid down in the Recommendation 2003/361/EC adopted by the European Commission on 6 May 2003 concerning the definition of micro, small and medium-sized enterprise, provided in the latter case that the total amount owed to the institution and parent undertakings and its subsidiaries, including any past due exposure, by the obligor client or group of connected clients, but excluding claims or contingent claims secured on residential property collateral, shall not, to the knowledge of the institution, which shall have taken reasonable steps to confirm the situation, exceed EUR 1 million;
2012/03/08
Committee: ECON
Amendment 1028 #

2011/0202(COD)

Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 1 – point a
(a) they are not issued by the institution itself or its parent or subsidiary institutions or another subsidiary of its parent institutions or parent financial holding company; with the exemption of those listed in points i and ii of point a of this Article and are traded in a regulated secondary market on current basis
2012/03/09
Committee: ECON
Amendment 1038 #

2011/0202(COD)

Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 1 – point c
(c) their price can be observed in a regulated market or can be determined by a formula that is easy to calculate based on publicly available inputs and does not depend on strong assumptions as is typically the case for structured or exotic products;
2012/03/09
Committee: ECON
Amendment 1132 #

2011/0202(COD)

Proposal for a regulation
Article 410 – paragraph 4 – subparagraph 1 – point a
(a) by the depositor in order to obtain clearing, custody or cash management services from the institution; or in the context of another operational relationship
2012/03/09
Committee: ECON
Amendment 1193 #

2011/0202(COD)

Proposal for a regulation
Article 413 – paragraph 1
1. Institutions shall report their capped liquidity inflows. Capped liquidity inflows shall be the liquidity inflows limited to 75% of liquidity outflows. Institutions may exempt liquidity inflows from deposits placed with other institutions and qualifying for the treatments set out in Article 108(6) or Article 108(7) from this limit as well as liquidity inflows from monies due from borrowers and bond investors related to mortgage lending funded by bonds eligible for the treatment set out in Article 124(3), (4) or (5).
2012/03/09
Committee: ECON
Amendment 1202 #

2011/0202(COD)

Proposal for a regulation
Article 413 – paragraph 2 – introductory part
2. The liquidity inflows shall be measured over the next 30 daysmonth rolling. They shall comprise only contractual inflows from exposures that are not past due and for which the bank has no reason to expect non- performance within the 30-day time horizon. The inflow shall be taken into account in full with the exception of the following:
2012/03/09
Committee: ECON
Amendment 1220 #

2011/0202(COD)

Proposal for a regulation
Article 413 – paragraph 3
3. Payables and receivables expected over the 30 daynext month rolling horizon from the contracts listed in Annex II shall be reflected on a net basis across counterparties and shall be multiplied by 100% of a net amount receivable. Net basis shall mean also net of collateral to be received that qualifies as liquid assets under Article 404.
2012/03/09
Committee: ECON
Amendment 1253 #

2011/0202(COD)

Proposal for a regulation
Article 415 – paragraph 1 – point g – introductory part
(g) non-renewable loans and receivables, separately those the borrowers of which are:
2012/03/09
Committee: ECON
Amendment 1254 #

2011/0202(COD)

Proposal for a regulation
Article 415 – paragraph 1 – point g – point i
(i) separately those the borrowers of which are: a) natural persons other than commercial sole proprietor and partnerships and partnerships and deposits placed by small and medium sized enterprises where the aggregate deposit placed by that client or group of connected clients is less than 1 million EUR; b) sovereigns, central banks and PSEs; c) clients not referred above other than financial customers; d) any other borrowers
2012/03/09
Committee: ECON
Amendment 1255 #

2011/0202(COD)

Proposal for a regulation
Article 415 – paragraph 1 – point g – point ia (new)
(i a) deposits placed by small and medium sized enterprises where the aggregate deposit placed by that client or group of connected clients is less than 1 million EUR;
2012/03/09
Committee: ECON
Amendment 1256 #

2011/0202(COD)

Proposal for a regulation
Article 415 – paragraph 1 – point g – point ii
(ii) sovereigns, central banks and PSEs;eparately those that are: a) collateralised by commercial real estate; b) collateralised by residential real estate; c) match funded (pass-through) via bond eligible for the treatment set out in Article 124.
2012/03/09
Committee: ECON
Amendment 1257 #

2011/0202(COD)

Proposal for a regulation
Article 415 – paragraph 1 – point g – point iii
(iii) clients not referred to in (i) and (ii) other than financial customers;deleted
2012/03/09
Committee: ECON
Amendment 1258 #

2011/0202(COD)

Proposal for a regulation
Article 415 – paragraph 1 – point g – point iv
(iv) any other borrowers;deleted
2012/03/09
Committee: ECON
Amendment 1507 #

2011/0202(COD)

Proposal for a regulation
Article 481 – paragraph 1 – subparagraph 1
EBA, ESMA and ECB shall monitor and evaluate the reports made in accordance with Article 403(1), across currencies and across different business models. EBA shall, and after consulting the ESRB, annually and for the first time by 31 December 2013 report to the Commission whether a specification of the general liquidity coverage requirement in Article 401 based on the criteria for liquidity reporting in Part Six Title II, considered either individually or cumulatively, is likely to have a material detrimental impact on the business and risk profile of Union institutions or on financial markets or the economy and bank lending, with a particular focus on lending to small and medium enterprises and on trade financing, including lending under official export credit insurance schemes. Such analysis should take due account of markets and regulatory developments as well as of the interactions of this ratio with other prudential requirements under the present regulation such as the risk capital ratios or the leverage ratios.
2012/03/09
Committee: ECON
Amendment 577 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 1 – paragraph 1 – point a
(a) conservation, management and exploitation of marineaquatic biological resources; and
2012/06/25
Committee: PECH
Amendment 579 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 1 – paragraph 1 – point a a (new)
(aa) preservation of the environment and combating climate change in fishing and aquaculture activities;
2012/06/25
Committee: PECH
Amendment 583 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 1 – paragraph 1 – point b
(b) fresh water biological resources, aquaculture, and the processing and marketing of fisheries and aquaculture products, in relation to measures on markets and financial measures in support of the Common Fisheries Policy.;
2012/06/25
Committee: PECH
Amendment 588 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 1 – paragraph 1 – point b a (new)
(ba) the structural and fleet management policy.
2012/06/25
Committee: PECH
Amendment 592 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 1 – paragraph 1 – point b b (new)
(bb) the specific problems of artisanal fishing and small-scale fisheries, of small- scale aquaculture in the natural environment, which includes traditional shell-fishing, and of areas that are highly dependent on these activities.
2012/06/25
Committee: PECH
Amendment 593 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 1 – paragraph 1 – point b c (new)
(bc) international relations concerning fisheries, aquaculture and derived activities.
2012/06/25
Committee: PECH
Amendment 594 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 1 – paragraph 1 – point b d (new)
(bd) the role of women and non- discrimination on grounds of gender in the field of the CFP.
2012/06/25
Committee: PECH
Amendment 598 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 1 – paragraph 2 – point c
(c) by Union fishing vessels outside Union waters, in accordance with the rules of the waters in which they operate and, where applicable, fisheries agreements with third countries and without prejudice to binding coastal state legislation; or
2012/06/25
Committee: PECH
Amendment 605 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 2 – paragraph 1
1. The Common Fisheries Policy shall ensure that fishing and aquaculture activities provide long-term sustainable environmental, economic and social conditionssocial, economic and environmental conditions promoting improvements in employment, the competitiveness of the sector, the achievement of a single market for its activities and products, and contributeing to the availability of food supplies, social protection and the quality of life in fisheries areas.
2012/06/25
Committee: PECH
Amendment 623 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 2 – paragraph 2
2. The Common Fisheries Policy shall apply the precautionary approach to fisheries management in a responsible and proportionate manner that maintains the sustainability of the sector, and shall aim to ensure, by 2015, that exploitation of living marineaquatic biological resources restores and maintains populations of harvested species above levels which can produce the maximum sustainable yield. within biologically safe levels and, wherever possible through the provision of multiannual plans or scientific information and media enabling an orderly transition without any socioeconomic shocks, at levels which can produce the maximum sustainable yield. At any rate, it shall aim to ensure that by 2020, in an orderly manner and with an acceptable socio-economic impact, the maximum sustainable yield is reached for all populations caught.
2012/06/25
Committee: PECH
Amendment 642 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 2 – paragraph 3
3. The Common Fisheries Policy shall implement the ecosystem-based approach to fisheries management to ensure thaand aquaculture management in order to limit their impacts of and ensure that fishing activities on the marine ecosystem are limitedpreserve the environment.
2012/06/25
Committee: PECH
Amendment 660 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 2 – paragraph 4
4. The Common Fisheries Policy shall integrate the Unionbe consistent with environmental legislation requirementsand shall help achieve the objectives of the European Union’s environmental policy.
2012/06/25
Committee: PECH
Amendment 669 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 2 – paragraph 4 a (new)
4a. The Common Fisheries Policy shall ensure that fishing effort and fleet capacity correspond to exploitation levels in accordance with the second paragraph of this Article.
2012/06/25
Committee: PECH
Amendment 675 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 3 – paragraph 1 – introductory part
For the purpose of achieving the objectives established in the Treaties and the general objectives set out in Article 2, the Common Fisheries Policy shall in particular:
2012/06/25
Committee: PECH
Amendment 687 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 3 – paragraph 1 – point a
(a) eliminateimprove fishing techniques in order to avoid unwanted catches of commercial stocks and gradually ensure that all catches of such stocks are landed by making it possible to market these provided they meet minimum size requirements;
2012/06/25
Committee: PECH
Amendment 697 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 3 – paragraph 1 – point a a (new)
(aa) improve fishing techniques to avoid unwanted catches of non-commercial stocks and to gradually minimize discards and promote their use after landing;
2012/06/25
Committee: PECH
Amendment 716 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 3 – paragraph 1 – point b a (new)
(ba) complete a single market for fisheries and aquaculture activities and products and ensure that the requirements established for products from third countries are aligned with the requirements applicable to EU products;
2012/06/25
Committee: PECH
Amendment 719 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 3 – paragraph 1 – point b b (new)
(bb) recognise the importance of small-scale coastal and artisanal fishing and aquaculture in the natural environment, including traditional shell fishing, and of the areas highly dependent on such activities for generating wealth and safeguarding sustainable social models;
2012/06/25
Committee: PECH
Amendment 723 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 3 – paragraph 1 – point c
(c) promote the development of Union aquaculture activities, industries linked to these and the requisite support services, so as to contribute to food security and employment in coastal and rural areas;
2012/06/25
Committee: PECH
Amendment 738 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 3 – paragraph 1 – point d
(d) contribute toensure a fair standard of living for those who depend on fishing activitiend aquaculture activities, linked industries and support services, and promote improved working standards through compliance with health and safety legislation and through the provisions of collective bargaining agreements;
2012/06/25
Committee: PECH
Amendment 748 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 3 – paragraph 1 – point d a (new)
(da) promote measures seeking recognition for the role of women in the development of fisheries and aquaculture and real gender equality in this field;
2012/06/25
Committee: PECH
Amendment 764 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 3 – paragraph 1 – point f a (new)
(fa) promote research and development and scientific and technical cooperation in the sector.
2012/06/25
Committee: PECH
Amendment 786 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 4 – paragraph 1 – point a
(a) clear definition of the responsibilities atwarded to the Union, and recognition of those assigned to the national, regional, and local levelsauthorities in the Member States, in line with the principle of subsidiarity;
2012/06/25
Committee: PECH
Amendment 795 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 4 – paragraph 1 – point b
(b) establishment of measures in accordance with the best available scientific advice, and the corresponding socio-economic impact studies, taking into account the need to make the relevant adjustments at regular intervals;
2012/06/25
Committee: PECH
Amendment 806 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 4 – paragraph 1 – point d
(d) broad and appropriate involvement of stakeholders at allthe various stages from conception to implementation, monitoring and evaluation of the measures;
2012/06/25
Committee: PECH
Amendment 812 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 4 – paragraph 1 – point d a (new)
(da) transparency and respect for the rights of the public to information and access to justice;
2012/06/25
Committee: PECH
Amendment 814 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 4 – paragraph 1 – point e
(e) the primary responsibility of the flag Stadelete;d
2012/06/25
Committee: PECH
Amendment 818 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 4 – paragraph 1 – point f
(f) consistence with the integrated maritime policy,other policies of the European Union and, with other Union policieshere relevant, correspondence between the internal and external facets of the Common Fisheries Policy.
2012/06/25
Committee: PECH
Amendment 833 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 5 – paragraph 1 – indent 2
marineaquatic biological resources’ means available and accessible living marine aquatic species, including anadromous and catadromous species through all stages of their life cycle;
2012/06/25
Committee: PECH
Amendment 845 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 5 – paragraph 1 – indent 6
‘maximum sustainable yield’ means the maximaverage equilibrium catch that may be taken from a fish stock indefinitelycontinuously obtained indefinitely when exploiting a given aquatic stock or biological resource or, in the case of mixed fisheries, from the total for species taken as a whole without adversely affecting their reproduction;
2012/06/25
Committee: PECH
Amendment 863 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 5 – paragraph 1 – indent 7
‘precautionary approach to fisheries management’ means an approach according to which the absence of adequate scientific information should not justify postponing or failing to takethe management of fisheries through the establishing of conservation scenarios and limits determined using scientific criteria which factor in current uncertainties and provide a basis for management measures to conserve and avert damage to target species, associated or dependent species and non-target species and their environment;
2012/06/25
Committee: PECH
Amendment 871 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 5 – paragraph 1 – indent 8
‘ecosystem-based approach to fisheries management’ means an approach ensuring that benefits from living aquatic resources are high while the direct and indirect impacts of fishing operations on marine ecosystems are low and not detrimental to the future functioning, diversity and integrity of those ecosystemthe guidelines for preserving the biological diversity and the composition, structure and functioning of ecosystems whose natural resources which help, through fishery, to satisfy human needs;
2012/06/25
Committee: PECH
Amendment 880 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 5 – paragraph 1 – indent 9
‘fishing mortality rate’ means the cratches of a stock over a given period as a proportion of the average stock available to the fishery in that periode at which individuals of species and biomass are being removed from a stock by means of fishery activities;
2012/06/25
Committee: PECH
Amendment 883 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 5 – paragraph 1 – indent 10
‘stock’ means a marine biological resource with distinctive characteristics that occurs in a given management area;
2012/06/25
Committee: PECH
Amendment 894 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 5 – paragraph 1 – indent 12
‘conservation reference point’ means values of fish stock population parameters (such as biomass or fishing mortality rate) used in fisheries management, for example with respect to an acceptable level of biological risk or a desired level of yieldany of the values or thresholds estimated for a stock using scientific procedures, which may relate to the biomass of individuals of reproductive age or to fishing mortality and which, when exceeded, trigger an alarm and a process of stock recovery or protection;
2012/06/25
Committee: PECH
Amendment 902 #

2011/0195(COD)

Proposal for a regulation
Part 1 – article 5 – paragraph 1 – indent 13
‘safeguard’ means a precautionary measure designed to protect or prevenagainst something undesirable occurring;
2012/06/25
Committee: PECH
Amendment 907 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 14
– ‘technical measures’ means the measures relating to the time authorised for fishing, conditions governing access to the fishing area and the use of gear that regulate the species composition, size composition of catches and impacts on components of the ecosystems resulting from fishing activities through conditioning the use and structure of fishing gear and restriction of access to fishing areas;
2012/06/25
Committee: PECH
Amendment 910 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 14 a (new)
- ‘protected fishing area’ means a geographically defined area of water in which all or certain fishing or aquaculture activities are temporarily or permanently prohibited or restricted in order to foster the conservation and recovery of living aquatic resources or the protection of marine ecosystems;
2012/06/25
Committee: PECH
Amendment 913 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 14 b (new)
- ‘essential fishing habitats’ means aquatic habitats that must be protected owing to their wide-ranging role in meeting the vital ecological and biological needs of certain fish species;
2012/06/25
Committee: PECH
Amendment 915 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 14 c (new)
- ‘fisheries reserve’ means a clearly defined and indicated geographical area within a Member State’s territorial waters in which all fishing activities are prohibited;
2012/06/25
Committee: PECH
Amendment 919 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 15
– ‘fishing opportunity’ means a quantified legal entitlement to fish a specified stock or fishery, expressed in terms of catches and/or fishing effort and conditions functionally linked thereto which are necessary to quantify them at a certain level;
2012/06/25
Committee: PECH
Amendment 928 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 17
– 'transferable fishing concessions' means exclusive and revocable user entitlements to a specific part of fishing opportunities allocated to a Member State or established in management plans adopted by a Member State in accordance with Article 19 of Regulation (EC) No 1967/200634, which the holder may transfer to other eligible holders of such transferable fishing concessions;
2012/06/25
Committee: PECH
Amendment 941 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 19
'fishing capacity' means a vessel's tonnage in GT (Gross Tonnage) and its power in kW (Kilowatt) as defined in Articles 4 and 5 of Council Regulation (EEC) No 2930/8635; with regard to certain types of fishing activity, the Council may define capacity on the basis of, for example, the number and size of the vessel's fishing gear;
2012/06/25
Committee: PECH
Amendment 948 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 20
– 'aquaculture' means the rearing or cultivation of aquatic organisms using techniques designed to increase the production of the organisms in question beyond the natural capacity of the environment, where the organisms remain the property of a natural or legal person throughout the rearing and culture stage, up to and including harvestingin inland or coastal areas, which may involve intervention in the rearing process to improve production and result in individual or company ownership of the stock cultivated;
2012/06/25
Committee: PECH
Amendment 951 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 21
– 'fishing licence' means a licence as referred to in Article 4(9) of Regulation (EC) No 1224/2009n official document which authorises the holder, in accordance with national legislation, to use a certain fishing capacity for commercial fishing of living aquatic resources, and which stipulates the minimum requirements concerning identification, technical characteristics and equipment of a Community fishing vessel;
2012/06/25
Committee: PECH
Amendment 953 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 22
– 'fishing authorisation' means an authorisation as referred to in Article 4(10) of Regulation (EC) No 1224/2009to fish issued to a Community fishing vessel, as well as a fishing licence, which authorises the vessel to carry out specific fishing activities within a certain period, in a certain area or for a certain fishery, under specific conditions;
2012/06/25
Committee: PECH
Amendment 956 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 23
– 'fishing' means the collection or capture of aquatic organisms living in their natural environment, or the intentional use of any means allowing such collection or capture activity' means searching for fish, shooting, setting, towing or hauling of fishing gear, taking catch on board, transhipping, retaining on board, processing on board, transferring, caging, fattening and landing of fish and fisheries products;
2012/06/25
Committee: PECH
Amendment 965 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 27
– 'end-user of scientific data' means a body with a research or management interest in the scientific analysis of data in the fisheries sector;
2012/06/25
Committee: PECH
Amendment 968 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 28
– 'surplus of allowable catch' means that part of the allowable catch which a coastal State does not have the capacity to harvestfish during a given period of time;
2012/06/25
Committee: PECH
Amendment 974 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 30
– 'spawning stock biomass' means an estimate of the mass of the fish of a particular resource that reproduces at a defined time, including both males and females and including fish that reproduce viviparouslyis sufficiently mature to reproduce at a defined time;
2012/06/25
Committee: PECH
Amendment 980 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 31
– 'Mmixed fisheries' means fisheries wherein which more than one species are present in the area being fished and are vulnerable to beinga given area and may be caught in the fishing gear.same catch;
2012/06/25
Committee: PECH
Amendment 982 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 31 a (new)
– 'coastal and small-scale fishing' means professional fishing activity which is highly-selective and carried out using vessels less than 15 metres in length during trips lasting no longer than 24 hours, and which is characterised by the freshness of its products and the fact that it is operated by a microbusiness or family business. It may also include small-scale natural aquaculture, which includes traditional shellfish gathering on foot or from on board vessels;
2012/06/25
Committee: PECH
Amendment 993 #

2011/0195(COD)

Proposal for a regulation
Part 1 – Article 5 – paragraph 1 – indent 32 a (new)
– 'stock within safe biological limits' means that it is highly probable that the estimated spawning biomass of the stock at the end of the previous year is higher than Blim and the estimated fishing mortality rate for the previous year is less than Flim.
2012/06/25
Committee: PECH
Amendment 1037 #

2011/0195(COD)

Proposal for a regulation
Part 2 – Article 6 a (new)
Article (6a) Coastal and small-scale fishing and small-scale aquaculture 1. Coastal and artisanal fishing or small- scale fishing, as defined in Article 5, shall be fully incorporated into the Common Fisheries Policy. Small-scale aquaculture in the natural environment, carried out by one-person or family businesses and microbusinesses, and which includes traditional shellfish gathering activities, shall also form part of the policy. 2. The Union shall contribute to the sustainability of coastal and small-scale fishing and small-scale aquaculture through the following: a. reducing red tape, simplifying administrative procedures and increasing the flexibility of management systems in this field. b. establishing a programme with specific funding under the European Maritime and Fisheries Fund to tackle the particular problems faced by small-scale operators, without prejudice to their full participation in the sector's other horizontal programmes. c. promoting policies concerning quality assurance and introducing labelling to identify such products and raise the profile of high-quality fresh fish which includes the date of the catch and landing. d. creating in the maritime area identified in Article 6(2) of this Regulation a network of 'fishery reserves' and 'protected fishing areas' to conserve resources and ensure limited and selective access to them for small-scale fishing, and reserving areas for small-scale aquaculture and traditional shellfish gathering. e. prohibiting fishing opportunities corresponding to coastal and small-scale artisanal fishing fleets from being transferred to other operators in the sector. f. incorporating small-scale fishing and aquaculture into fields such as marine strategies, policies on coastal areas and the environment, research and development programmes and the various Structural Funds. g. promoting measures that increase energy efficiency and help combat climate change. h. ensuring that producers and products meet the same level of safety, quality and fairness requirements as the rest of the sector. i. promoting training and cooperation between small-scale operators. j. raising awareness among the European public of the higher quality of the products of small-scale fishing and aquaculture.
2012/06/25
Committee: PECH
Amendment 1045 #

2011/0195(COD)

Proposal for a regulation
Part 3 – Article 7 – paragraph 1 – introductory part
Measures for the conservation of marine biological resources, based on scientific reports and adopted upon evaluation of their social and economic impact, may include the following:
2012/06/25
Committee: PECH
Amendment 1049 #

2011/0195(COD)

Proposal for a regulation
Part 3 – Article 7 – paragraph 1 – point a
(a) adopting multiannual plans under Articles 9 - 11, which shall establish objectives for the sustainable exploitation of stocks and, in order to meet the objectives, include technical measures relating to the obligation to land catches;
2012/06/25
Committee: PECH
Amendment 1052 #

2011/0195(COD)

Proposal for a regulation
Part 3 – Article 7 – paragraph 1 – point b
(b) establishing targets for the sustainable exploitation of stocks;deleted
2012/06/25
Committee: PECH
Amendment 1063 #

2011/0195(COD)

Proposal for a regulation
Part 3 – Article 7 – paragraph 1 – point c
(c) adopting measures for the purpose ofthat, taking account of sustainable fishing effort, adapting the number of fishing vessels and/or types of fishing vessels to available fishing opportunities;
2012/06/25
Committee: PECH
Amendment 1077 #

2011/0195(COD)

Proposal for a regulation
Part 3 – Article 7 – paragraph 1 – point d
(d) establishing incentives, including those of an economic nature, to promote more selective, efficient and safe or low impact fishing;
2012/06/25
Committee: PECH
Amendment 1087 #

2011/0195(COD)

Proposal for a regulation
Part 3 – Article 7 – paragraph 1 – point g
(g) adopting measures concerning the obligation to land all catches;deleted
2012/06/25
Committee: PECH
Amendment 1097 #

2011/0195(COD)

Proposal for a regulation
Part 3 – Article 7 – paragraph 1 – point g a (new)
(ga) creating a European network of ‘fishery reserves’ and ‘protected fishing areas’;
2012/06/25
Committee: PECH
Amendment 1112 #

2011/0195(COD)

Proposal for a regulation
Part 3 – Article 8 – paragraph 1 – introductory part
Technical measures to be incorporated into the multiannual plans may include the following:
2012/06/25
Committee: PECH
Amendment 1128 #

2011/0195(COD)

Proposal for a regulation
Part 3 – Article 8 – paragraph 1 – point c
(c) prohibitions of damaging fishing gears or equipment and restrictions on the use of certain fishing gears or equipment in certain areas or seasons;
2012/06/25
Committee: PECH
Amendment 1145 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 8 – paragraph 1 – point e
(e) requirements for fishing vessels to cease operating in an area for a defined minimum period in order to protect essential habitats or a temporary aggregation of a vulnerable marine resource, namely a species whose biological safety is at risk or which is spawning or in a juvenile state;
2012/06/25
Committee: PECH
Amendment 1169 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 9 – paragraph 1
1. Multiannual plans providing for conservation and technical measures to maintain or restore fish stocks above levels capable of producing maximum sustainable yield shall be established as a priority, on the basis of scientific data and with a view to attaining established socioeconomic objectives, as a priority by the European Parliament and the Council, by means of the ordinary legislative procedure.
2012/06/25
Committee: PECH
Amendment 1209 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 9 – paragraph 3
3. Multiannual plans shall, where possible, cover either fisheries exploiting single fish stocks or fisheries exploiting a mixture of stocks, taking due account of interactions between stocks and fisheries. In mixed fisheries sustainable yield shall constitute optimum sustainable yield, understood as the maximum obtainable from the total combined stocks.
2012/06/25
Committee: PECH
Amendment 1229 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 9 – paragraph 4 a (new)
4a. Assessment of the economic and social impact of the different scenarios and alternatives proposed by the multiannual plans, for both the fishery and processing sectors, shall be open to dialogue with social partners and to contributions from the actors involved;
2012/06/25
Committee: PECH
Amendment 1236 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 9 – paragraph 4 b (new)
4b. Multiannual plans shall generally be carried out in a gradual manner, except in urgent cases, when they must be accompanied by measures to compensate their economic and social impact and by accompanying measures allowing the attainment of socioeconomic and environmental objectives;
2012/06/25
Committee: PECH
Amendment 1241 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 9 – paragraph 4 c (new)
4c. Multiannual plans shall be adjusted to the dynamics of the stocks involved through periodic reviews.
2012/06/25
Committee: PECH
Amendment 1242 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 9 – paragraph 4 d (new)
4d. The Regional Advisory Councils (RACs) shall advise Parliament and the Council in the decision-making processes relating to multiannual plans.
2012/06/25
Committee: PECH
Amendment 1257 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 10 – paragraph 1
1. Multiannual plans shall provide for adaptations of the fishing mortality rate, resulting in a fishing mortality rate that restores and maintains all stocks above levels capable of producing maximum sustainable yield by 2015in the shortest possible time within the period established in Article 2.2 to ensure that socioeconomic objectives are met.
2012/06/25
Committee: PECH
Amendment 1272 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 10 – paragraph 2
2. In cases where the determination of a fishing mortality rate that restores and maintains stocks above levels capable of producing maximum sustainable yield is not possible, multiannual plans shall provide for precautionary measures ensuring a comparable degree of conservation of the relevant stocks and ensuring the socioeconomic sustainability of the sector.
2012/06/25
Committee: PECH
Amendment 1276 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 10 – paragraph 2 a (new)
2a. Multiannual plans shall provide a framework allowing Member States active in the same fishery to adopt mutually coherent measures and allowing the fleet to take full advantage of the fundamental freedoms of the internal market.
2012/06/25
Committee: PECH
Amendment 1286 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 11 – paragraph 1 – point b
(b) socioeconomic and environmental objectives consistent with the objectives set out in Articles 2 and 3;
2012/06/25
Committee: PECH
Amendment 1301 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 11 – paragraph 1 – point c – point iii
(iii) stustainability of catches.
2012/06/25
Committee: PECH
Amendment 1331 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 11 – paragraph 1 – point e a (new)
(ea) measures facilitating the obligation to land catches;
2012/06/25
Committee: PECH
Amendment 1338 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 11 – paragraph 1 – point f
(f) quantifiable indicators for periodic monitoring and assessment of the progress related to achieving the socio-economic and environmental targets of the multiannual plan;
2012/06/25
Committee: PECH
Amendment 1348 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 11 – paragraph 1 – point h
(h) minimisation of unwanted impacts of fishing on the eco-system;
2012/06/25
Committee: PECH
Amendment 1368 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 11 – paragraph 1 – point j
(j) any other measures suitablecompensatory and socio-economic flanking measures and any other suitable and proportionate measures to achieve the objectives of multiannual plans.
2012/06/25
Committee: PECH
Amendment 1383 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 12 – paragraph 1
1. In special areas of conservation within the meaning of Article 6 of Directive 92/43/EEC, of Article 4 of Directive 2009/147/EC and of Article 13(4) of Directive 2008/56/EC, fishing activities shall be conducted by Member States in such a way so as to alleviate the impact from fishing activities in such special areas of conservationMember States shall regulate whether fishing and aquaculture activities are compatible and, if so, the conditions and the manner in which they can be carried out so as to comply with the objectives of the above Directives.
2012/06/25
Committee: PECH
Amendment 1396 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 12 – paragraph 2
2. The Commission shall be empowered, after receiving an opinion from the Regional Advisory Councils, to adopt delegated acts in accordance with Article 55, to specify fishing related measures to set minimum levels in order to alleviate the impact of fishing activities in special areas of conservation.
2012/06/25
Committee: PECH
Amendment 1399 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 13 – title
Commission measures in case of a serious threat to marineaquatic biological resources
2012/06/25
Committee: PECH
Amendment 1409 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 13 – paragraph 1
1. On the basis of evidence of a serious threat to the conservation of marineaquatic biological resources, or to the marine eco- system and requiring immediate action, the Commission, upon a reasoned request of a Member State or on its own initiative, may decide on temporary measures to alleviate the threat.
2012/06/25
Committee: PECH
Amendment 1419 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 13 – paragraph 2
2. The Member State shall communicate the reasoned request referred to in paragraph 1 simultaneously to the Commission, to the other Member States and to the Advisory Councils concerned. The Commission shall take a decision within 15 working days of receipt of the request referred to in paragraph 1; the decision shall be notified to the Member States concerned, the European Parliament and the Council and published in the Official Journal of the European Union.
2012/06/25
Committee: PECH
Amendment 1435 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 14 – paragraph 1 – introductory part
TFollowing an opinion from the Regional Advisory Councils, technical measures frameworks to ensure the protection of marine biological resources and the reduction of the impact of fishing and aquaculture activities on fish stocks and on marine eco-systems shall be established. Technical measures frameworks shall:
2012/06/25
Committee: PECH
Amendment 1455 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 14 – paragraph 1 – point c
(c) reduce catches of unwanted marineaquatic organisms, including birds;
2012/06/25
Committee: PECH
Amendment 1460 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 14 – paragraph 1 – point d
(d) mitigate the impact of fishing gear on the ecosystem and the environment, with particular regard to the protection of biologically sensitive stocks and habitats.
2012/06/25
Committee: PECH
Amendment 1464 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 14 – paragraph 1 – point d a (new)
(da) establish the minimum conservation reference sizes referred to in Article 15(2) for imports of products from third countries.
2012/06/25
Committee: PECH
Amendment 1489 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 15 – paragraph 1 – introductory part
1. All catches of the followingcommercially-used fish stocks subject to catch limits caught during fishing activities in Union waters or by Union fishing vessels outside Union waters shall be brought and retained on board the fishing vessels and recorded and landed, except when used as live bait, , in accordance with the following timeframe:multiannual plans. The multiannual plans shall lay down the conditions necessary to implement these measures and may authorise minimum thresholds for discards and the discarding of species that have a high rate of survival, and may allow for flexible measures tailored to the specific characteristics of mixed fisheries. The Commission shall submit, before 1 January 2014, a full timeframe for the revision of multiannual plans which do not contain provisions in this regard and the adoption of corresponding plans for stocks which are not yet covered.
2012/06/25
Committee: PECH
Amendment 1493 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 15 – paragraph 1 – point a
(a) At the latest from 1 January 2014: – mackerel, herring, horse mackerel, blue whiting, boarfish, anchovy, argentine, sardinella, capelin; – bluefin tuna, swordfish, albacore tuna, bigeye tuna, other billfish.deleted
2012/06/25
Committee: PECH
Amendment 1495 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 15 – paragraph 1 – point a – indent 1
– mackerel, herring, horse mackerel, blue whiting, boarfish, anchovy, argentine, sardinella, capelin;deleted
2012/06/25
Committee: PECH
Amendment 1501 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 15 – paragraph 1 – point a – indent 2
– bluefin tuna, swordfish, albacore tuna, bigeye tuna, other billfish.deleted
2012/06/25
Committee: PECH
Amendment 1508 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 15 – paragraph 1 – point b
(b) At the latest from 1 January 2015: cod, hake, sole;deleted
2012/06/25
Committee: PECH
Amendment 1516 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 15 – paragraph 1 – point c
(c) At the latest from 1 January 2016: haddock, whiting, megrim, anglerfish, plaice, ling, saithe, pollack, lemon sole, turbot, brill, blue ling, black scabbard, roundnose grenadier, orange roughy, Greenland halibut, tusk, redfish and Mediterranean demersal stocks.deleted
2012/06/25
Committee: PECH
Amendment 1547 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 15 – paragraph 2
2. Minimum conservation reference sizes based on the best available scientific advice shall be established for the fish stocks set out in paragraph 1. The usale of catches of such fish stocks below the minimum conservation reference size shall be restricted for reduction to fish meal or pet food onlyto donation to social welfare organisations for human consumption.
2012/06/25
Committee: PECH
Amendment 1561 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 15 – paragraph 3
3. Marketing standards for catches of fish caught in excess of fixed fishing opportunities shall be established in accordance with Article 27 of [the Regulation on the common organisation of the markets in fishery and aquaculture products]The calculation rules applicable for marketing purposes to catches of fish not covered by fixed fishing opportunities and to the balancing of fishing opportunities between different operators, collective management groups, producer organisations and national quotas shall be laid down in the multi-annual plans.
2012/06/25
Committee: PECH
Amendment 1570 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 15 – paragraph 4
4. Member States shall ensure that Union fishing vessels flying their flags are equipped to ensure full documentation of all fishing and processing activities, or enjoy the necessary support, under the Fisheries Control Regulation, and in line with the criteria of efficiency and proportionality, for the purpose of monitoring compliance with the obligation to land all catches.
2012/06/25
Committee: PECH
Amendment 1583 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 15 – paragraph 5
5. Paragraph 1 shall be without prejudice to international obligations. In the case of fishing vessels flying the flag of an EU Member State and operating outside EU waters, this obligation shall be fulfilled in accordance with the provisions of the regional fisheries organisations and bilateral fisheries agreements; should no such rules exist, the appropriate measures may be adopted on a case by case basis by Parliament and the Council under the ordinary legislative procedure.
2012/06/25
Committee: PECH
Amendment 1592 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 15 a (new)
Article 15a European Network of ‘fishery reserves’ and ‘protected fishing areas’ 1. By 1 June 2013, the European Commission shall present a Green Paper on Marine Spatial Planning and Sustainable Fisheries in which, inter alia, it shall launch a broad consultation on the planned introduction in Union waters of ‘protected fishing areas’, ‘fishery reserves’ and guidelines for the protection of ‘essential fishing habitats’ as defined in Article 5 of this Regulation. The consultation shall also relate to the earmarking of areas for aquaculture and traditional shell fishing, the setting of zoning thresholds, localisation and compatible use criteria and systems for the monitoring and promotion of small-scale fisheries and aquaculture. 2. By 1 June 2014, the Commission shall present its conclusions, on the basis of which it shall, if appropriate, bring forward a legislative proposal for the creation of European network of ‘fishery reserves’ and ‘protected fishing areas’ which shall be handled by the European Parliament and the Council under the co-decisional ordinary legislative procedure. The proposal shall also relate to the earmarking of areas for small-scale aquaculture and traditional shell fishing.
2012/06/25
Committee: PECH
Amendment 1599 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 16 – paragraph 1
1. Fishing opportunities allocated to Member States shall ensure each Member State relative stability of fishing activities’s actual participation in fishing activities for a three-year reference period, for each fish stock or fishery. The interests of each Member State shall be taken into account when new fishing opportunities are allocated.
2012/06/25
Committee: PECH
Amendment 1610 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 16 – paragraph 2
2. By-catch fishing opportunities may be reserved under the total fishing opportunities, catch to by-catch rates established and fishing opportunity exchanges considered.
2012/06/25
Committee: PECH
Amendment 1616 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 16 – paragraph 3
3. Fishing opportunities shall comply with quantifiablethe socioeconomic and environmental objectives, quantifiable resource and catch targets, time frames and margins established in the multiannual plans in accordance with Article 9(2) and Article 11(b), (c) and (h).
2012/06/25
Committee: PECH
Amendment 1645 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 17 – paragraph 1
1. In a multiannual plan established pursuant to Articles 9, 10 and 11 Member States may be authorised to adopt measur, when the implementation of uniform conservation measures is not required, to adopt implementing measures that are consistent and compatible with those applicable to the fleets of other Member States, in accordance with that multiannual plan, which specify the conservation measures applicable to vessels flying their flag in relation to stocks in Union waters for which they have been allocated fishing opportunities.
2012/06/25
Committee: PECH
Amendment 1658 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 17 – paragraph 2 – point c
(c) meet the objectives and quantifiable targets set out in a multiannual plan effectively; and
2012/06/25
Committee: PECH
Amendment 1659 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 17 – paragraph 2 – point d
(d) are no less stringent than those existing in Union legislation.; and
2012/06/25
Committee: PECH
Amendment 1662 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 17 – paragraph 2 – point d a (new)
(da) do not discriminate against the fleets of other EU Member States.
2012/06/25
Committee: PECH
Amendment 1669 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 17 – paragraph 2 a (new)
2a. Member States shall cooperate among themselves and coordinate their measures at regional scale. They shall consult the Advisory Councils and the Scientific, Technical and Economic Committee for Fisheries. They may propose to the Commission conservation measures on which they all agree, and which can only be adopted if they are to be implemented uniformly.
2012/06/25
Committee: PECH
Amendment 1695 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 19 – paragraph 1
The Commission may at any time assess the compliance, consistency, compatibility and effectiveness of conservation measures adopted by Member States pursuant toin accordance with Article 17(1).
2012/06/25
Committee: PECH
Amendment 1710 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 20 – paragraph 1
1. The Commission shall be empowered to adopt delegated acts in accordance with Article 55, following consultation of the Advisory Councils and the Scientific, Technical and Economic Committee, to specify the conservation measures for fisheries covered by a multiannual plan, if the Member States authorised to take measures in accordance with Article 17 do not notify such measures to the Commission within the period provided for in the multiannual plan or, failing that, within three months after the date of entry into force of the multiannual plan.
2012/06/25
Committee: PECH
Amendment 1718 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 20 – paragraph 2 – introductory part
2. The Commission shall be empowered to adopt delegated acts in accordance with Article 55, following consultation of the Advisory Councils and the Scientific, Technical and Economic Committee, to specify conservation measures for fisheries covered by a multiannual plan, if
2012/06/25
Committee: PECH
Amendment 1740 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 21 – paragraph 1 – introductory part
In a technical measures framework established pursuant to Article 14 Member States may be authorisempowered to adopt measures, in accordance with that framework, which specify the technical measures applicable to vessels flying their flag in relation to stocks in theirUnion waters for which they have been allocated fishing opportunities. Member States shall ensure that such technical measures:
2012/06/25
Committee: PECH
Amendment 1757 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 23 – paragraph 1
The Commission may at any time assess the compatibility and effectiveness of technical measures adopted by Member States pursuant to Article 21. The findings of such assessments will be included in the general assessment report on technical measures adopted by the Member States that the Commission shall submit to the European Parliament and the Council every three years.
2012/06/25
Committee: PECH
Amendment 1767 #

2011/0195(COD)

Proposal for a regulation
Part 3 – article 24 – paragraph 1
1. The Commission shall be empowered to adopt delegated acts in accordance with Article 55 to specify the technical measures covered by a technical measures framework, if the Member States authorised to take measures in accordance with Article 21 do not notify such measures to the Commission within the period provided for in the technical measures framework or, failing that, within three months after the date of entry into force of the technical measures framework.
2012/06/25
Committee: PECH
Amendment 1812 #

2011/0195(COD)

Proposal for a regulation
Part 4 – article 27 – paragraph 1 – introductory part
1. Each Member State shall, on the basis of the fishing opportunities allocated to it, establish a system of transferable fishing concessions no later than 31 December 2013 for
2012/06/25
Committee: PECH
Amendment 1828 #

2011/0195(COD)

Proposal for a regulation
Part 4 – article 27 – paragraph 1 – point a
(a) all fishing vessels of 12 meters length over all or morenot covered by the definition of coastal and small-scale fleet set out in Article 5 of this Regulation; and
2012/06/25
Committee: PECH
Amendment 1838 #

2011/0195(COD)

Proposal for a regulation
Part 4 – article 27 – paragraph 1 – point b
(b) all fishing vessels under 12 meters length overall fishing with towed gear.
2012/06/25
Committee: PECH
Amendment 1847 #

2011/0195(COD)

Proposal for a regulation
Part 4 – article 27 – paragraph 2
2. Member States may extend the system of transferable fishing concessions to other fishing vessels of less than 12 meters length overall and deploying other types of gear than towed gear and shall inform the Commission thereof.
2012/06/25
Committee: PECH
Amendment 1866 #

2011/0195(COD)

Proposal for a regulation
Part 4 – article 28 – paragraph 2
2. Each Member State shallmay allocate transferable fishing concessions on the basis of transparentan open procedure and transparent eligibility criteria, for each stock or group of stocks for which fishing opportunities are allocated in accordance with Article 16, excluding fishing opportunities obtained under sustainable fisheries agreements.
2012/06/25
Committee: PECH
Amendment 1873 #

2011/0195(COD)

Proposal for a regulation
Part 4 – article 28 – paragraph 3
3. For the allocation of transferable fishing concessions pertaining to mixed fisheries, Member States shall take account of the Scientific, Technical and Economic Committee for Fisheries and consult the Regional Advisory Councils on the likely catch composition of vessels participating in such fisheries.
2012/06/25
Committee: PECH
Amendment 1878 #

2011/0195(COD)

Proposal for a regulation
Part 4 – article 28 – paragraph 4
4. Transferable fishing concessions may only be allocated by a Member State to an owner of a fishing vessel flying the flag of that Member State, or to legal or natural persons whose principal activity is fishing, for the purpose of being used on such a vessel. Transferable fishing concessions may be pooled together for collective management by legal or natural persons whose principal activity is fishing or recognized producer organisations. Member States may limit eligibility for receiving transferable fishing concessions on the basis of transparent and objective criteria. They may, in particular, require historical catch levels and a good compliance record, set a limit on quota concentration, set aside a specific quota of up to 5% for new entrants and take into account the socio-economic impact of concessions.
2012/06/25
Committee: PECH
Amendment 1887 #

2011/0195(COD)

Proposal for a regulation
Part 4 – article 28 – paragraph 5
5. Member States may limit the period of validity of transferable fishing concessions to a period of at least 15 years, for the purpose of reallocating such concessions. Where Member States have not limited the period of validity of the transferable fishing concessions, they may recall such concessshall be considered to have been granted for a period of 15 years, not counting perionds with a notice of at least 15 yearsprior to the entry into force of this Regulation.
2012/06/25
Committee: PECH
Amendment 1905 #

2011/0195(COD)

Proposal for a regulation
Part 4 – article 28 – paragraph 7
7. Notwithstanding paragraph 5 and 6, Member States may recall transferable fishing concessions that have not been used on a fishing vessel for a period of three consecutive years without justification.
2012/06/25
Committee: PECH
Amendment 1921 #

2011/0195(COD)

Proposal for a regulation
Part 4 – article 29 – paragraph 1
1. Member States shall allocate individual fishing opportunities to holders of transferable fishing concessions, as referred to in Article 28, on the basis of fishing opportunities allocated to the Member States, or established in management plans adopted by Member States in accordance with Article 19 of Regulation (EC) No 1967/2006.
2012/06/25
Committee: PECH
Amendment 1932 #

2011/0195(COD)

Proposal for a regulation
Part 4 – article 29 – paragraph 3
3. Fishing vessels shall undertake fishing activities only when in possession of sufficient individual fishing opportunities to cover all their potential catch shall be given the possibility of taking and making appropriate use of non-target species alongside the target species.
2012/06/25
Committee: PECH
Amendment 1945 #

2011/0195(COD)

Proposal for a regulation
Part 4 – article 29 – paragraph 5
5. When allocating transferable fishing concessions in accordance with Article 28 and when allocating fishing opportunities in accordance with paragraph 1 of this Article, a Member State may provide incentives to fishing vessels deploying selective fishing gear that eliminates unwanted by-catch within the fishing opportunities assigned to that Member State. The measures laid down in this paragraph shall be compatible with aid for the temporary laying-up of vessels for a period of five years so that fleet capacity can be definitively brought into line with the new system.
2012/06/25
Committee: PECH
Amendment 1962 #

2011/0195(COD)

Proposal for a regulation
Part 4 – article 30 – paragraph 1
Member States shall establish and maintain a register of transferable fishing concessions and individual fishing opportunities by category of concession.
2012/06/25
Committee: PECH
Amendment 1982 #

2011/0195(COD)

Proposal for a regulation
Part 4 – article 31 – paragraph 2
2. A Member State may authorisThe transfer of transferable fishing concessions to and eligible holders from other Member States shall not be refused on grounds of nationality.
2012/06/25
Committee: PECH
Amendment 1987 #

2011/0195(COD)

Proposal for a regulation
Part 4 – article 31 – paragraph 3
3. Member States may regulate the transfer of transferable fishing concessions by providing for conditions for their transfer on the basis of transparent and objective criteria. They may prohibit the transfer of quotas between vessels with different categories of quota, the excessive accumulation of fishing rights or the transfer of concessions to operators for whom fishing is not their main business activity.
2012/06/25
Committee: PECH
Amendment 1991 #

2011/0195(COD)

Proposal for a regulation
Part 4 – article 31 – paragraph 3 a (new)
3a. The Commission shall submit a report to the Council and the European Parliament, by 31 December 2012, on the systems of transferable fishing rights set up by each Member State and their contribution to the objectives of the Common Fisheries Policy, in particular to the creation of a single market.
2012/06/25
Committee: PECH
Amendment 2006 #

2011/0195(COD)

Proposal for a regulation
Part 4 – Article 32 – paragraph 2
2. A Member State mayshall authorise the leasing of individual fishing opportunities to and from other Member States.
2012/06/25
Committee: PECH
Amendment 2009 #

2011/0195(COD)

Proposal for a regulation
Part 4 – Article 32 – paragraph 2 a (new)
2a. Producer groups from one or more Member States shall be authorised with a view to encouraging rational use of fishing opportunities.
2012/06/25
Committee: PECH
Amendment 2019 #

2011/0195(COD)

Proposal for a regulation
Part 4 – Article 33 – paragraph 1 a (new)
1a. Trading in the aforementioned fishing opportunities shall be authorised between Member States who do not have a sufficiently large fleet to use up all their opportunities and others who have insufficient possibilities in relation to their fleet capacity.
2012/06/25
Committee: PECH
Amendment 2032 #

2011/0195(COD)

Proposal for a regulation
Part 5 – Article 34 – paragraph 1
1. Member States shall be provided the requisite EU support to put in place measures to adjust the fishing capacity of their fleets in order to achieve an effective balance between such fishing capacity and their fishing opportunities.
2012/06/25
Committee: PECH
Amendment 2082 #

2011/0195(COD)

Proposal for a regulation
Part 5 – Article 36 – paragraph 1
1. Member States shall record the information on ownership, characteristics, gear and activity for Union fishing vessels flying their flag that is necessary for the management of measures established under this Regulation. __________________ 1 OJ Please insert the date one year after the entry into force of this Regulation.
2012/06/25
Committee: PECH
Amendment 2131 #

2011/0195(COD)

Proposal for a regulation
Part 6 – Article 37 – paragraph 3
3. Member States shall ensure the national coordination of the collection and management of scientific and socio- economic data for fisheries management. To this end, they shall designate a national correspondent and organizse an annual national coordination meeting. The Commission shall be informed of the national coordination activities and be invited to the coordination meetings.
2012/06/25
Committee: PECH
Amendment 2138 #

2011/0195(COD)

Proposal for a regulation
Part 6 – Article 37 – paragraph 4
4. The Commission shall avoid administrative duplication and ensure that Member States shall coordinate their data collection activities with other Member States in the same region, and make every effort to coordinate their actions with third countries having sovereignty or jurisdiction over waters in the same region.
2012/06/25
Committee: PECH
Amendment 2142 #

2011/0195(COD)

Proposal for a regulation
Part 6 – Article 37 – paragraph 5
5. The collection, management and use of data shall be done in the framework of a multi-annual programme as of 2014. The annual programme shall include an implementing protocol providing for close cooperation between the fisheries authorities, scientists and each fisheries sector concerned. Such a multi-annual programme shall include targets for the precision of the data to be collected, and aggregation levels for the collection, management and use of such data.
2012/06/25
Committee: PECH
Amendment 2156 #

2011/0195(COD)

Proposal for a regulation
Part 6 – Article 38 – paragraph 1
1. Member States shall adopt national fisheries scientific data collection, research and innovation programmes. They shall Commission shall ensure that they coordinate their fisheries data collection, and basic and applied research and innovation activities with other Member States and Union research and innovation frameworks.
2012/06/25
Committee: PECH
Amendment 2170 #

2011/0195(COD)

Proposal for a regulation
Part 7 – Article 39 – paragraph 1
1. The Union shall participate in the activities of international organisations dealing with fisheries, including regional fisheries management organisations (RFMOs) in line with international obligations and policy objectives and consistent with the objectives set out in Articles 2 and 3 and with other areas of EU policy.
2012/06/25
Committee: PECH
Amendment 2172 #

2011/0195(COD)

Proposal for a regulation
Part 7 – Article 39 – paragraph 1 a (new)
1a. The Union shall help ensure compliance with the United Nations Convention on the Law of the Sea.
2012/06/25
Committee: PECH
Amendment 2173 #

2011/0195(COD)

Proposal for a regulation
Part 7 – Article 39 – paragraph 1 b (new)
1b. The Union shall provide protection for EU citizens who, and EU companies, vessels and investments which, may be harmed outside its borders.
2012/06/25
Committee: PECH
Amendment 2181 #

2011/0195(COD)

Proposal for a regulation
Part 7 – Article 39 – paragraph 2
2. The positions of the Union in international organisations dealing with fisheries and RFMOs shall be based on the best available scientific advice to ensureevidence and shall advocate the implementation of the same principles and standards upheld in Community waters, with a view to promoting responsible fishing and to ensuring that fishery resources are maintained above or restored above levels capable of producing maximum sustainable yield.
2012/06/25
Committee: PECH
Amendment 2186 #

2011/0195(COD)

Proposal for a regulation
Part 7 – Article 39 – paragraph 3
3. The Union shall actively contribute to and support the development of scientific knowledge and advice in RFMOs and specialist international organisations with a recognised track record for scientific advice. It shall help strengthen cooperation ties between RFMOs and international fisheries organisations.
2012/06/25
Committee: PECH
Amendment 2194 #

2011/0195(COD)

Proposal for a regulation
Part 7 – Article 40 – paragraph 1
The Union shall cooperate with third countries and international organisations dealing with fisheries, including RFMOs, to strengthen compliance with measures, including those on safety at sea, adopted by such international organisations.
2012/06/25
Committee: PECH
Amendment 2200 #

2011/0195(COD)

Proposal for a regulation
Part 7 – Article 41 – paragraph 1
1. Sustainable Fisheries Agreements with third countries shall establish a legal, economic and environmental governance framework for fishing activities carried out by Union fishing vessels in third country waters and, where applicable, by third country fishing vessels in Union waters. The Agreements shall establish the right conditions for a dynamic, competitive and viable long-term development of the sector.
2012/06/25
Committee: PECH
Amendment 2214 #

2011/0195(COD)

Proposal for a regulation
Part 7 – Article 41 – paragraph 2
2. Union fishing vessels shall only catch surplus of the allowable catch determined by the third country as referred to in Article 62(2) of the United Nations Convention on the Law of the Sea, and identified on the basis of the best available scientific advice and relevant information exchanged between the Union and the third country concerned about the total fishing effort on the affected stocks, in order to ensure that fishery resources remain above levels capable of producing maximum sustainable yield. The surplus shall be determined in a transparent manner.
2012/06/25
Committee: PECH
Amendment 2223 #

2011/0195(COD)

Proposal for a regulation
Part 7 – Article 41 – paragraph 2 a (new)
2a. Sustainable Fisheries Agreements shall ensure that EU fishing vessels can operate in the waters of a third country if they are in possession of a fishing authorisation which has been issued in accordance with an agreed procedure. The exclusivity clause is not incompatible with individual solutions to prevent all fishing from coming to a halt in cases where a fishing agreement is in force but its protocol expires before agreement on a temporary extension of all its activities can be reached, provided said solutions are restricted, temporary and have suitable guarantees attached.
2012/06/25
Committee: PECH
Amendment 2227 #

2011/0195(COD)

Proposal for a regulation
Part 7 – Article 41 – paragraph 2 b (new)
2b. Agreements on reciprocal access shall contain a clause prohibiting discrimination between European Union investors and nationals of another country.
2012/06/25
Committee: PECH
Amendment 2241 #

2011/0195(COD)

Proposal for a regulation
Part 7 – Article 42 – paragraph 1 – point b
(b) establish the governance framework, including the development and maintenance of the necessary scientific and research institutions, monitoring, control and surveillance capability and other capacity building items pertaining to the development of a sustainable fisheries policy driven by the third country. Such financial assistance shall be conditioned upon the achievement of specific socio- economic and environmental results.
2012/06/25
Committee: PECH
Amendment 2257 #

2011/0195(COD)

Proposal for a regulation
Part 8 – Article 43 – paragraph 1 – introductory part
1. With a view to promoting sustainability and contributing to food security and quality, growth and employment, non- binding Union strategic guidelines on common priorities and targets for the development of aquaculture activities shall be established by the Commission by 2013. Such strategic guidelines shall differentiate between medium to small scale aquaculture and industrial aquaculture, shall take account of the relative starting positions and different circumstances throughout the Union, shall form the basis for multiannual national strategic plans and shall aim at:
2012/06/25
Committee: PECH
Amendment 2269 #

2011/0195(COD)

Proposal for a regulation
Part 8 – Article 43 – paragraph 1 – point a
(a) improving the competitiveness of the aquaculture industry and supporting its development and innovation as being aspects vital to the industry achieving socio-economic and environmental sustainability;
2012/06/25
Committee: PECH
Amendment 2277 #

2011/0195(COD)

Proposal for a regulation
Part 8 – Article 43 – paragraph 1 – point c
(c) diversification, economic growth, sustainable job creation and improvement of the quality of life in coastal and rural areas;
2012/06/25
Committee: PECH
Amendment 2282 #

2011/0195(COD)

Proposal for a regulation
Part 8 – Article 43 – paragraph 1 – point d
(d) a level- and sustainable playing field for aquaculture operators in relation to access to waters and space.uitable space, minimising their environmental impact and conserving essential habitats;
2012/06/25
Committee: PECH
Amendment 2288 #

2011/0195(COD)

Proposal for a regulation
Part 8 – Article 43 – paragraph 1 – point d a (new)
(da) special treatment for small-scale aquaculture in the wild and for traditional shellfish gathering, with areas reserved for their development;
2012/06/25
Committee: PECH
Amendment 2296 #

2011/0195(COD)

Proposal for a regulation
Part 8 – Article 43 – paragraph 1 – point d b (new)
(db) assuring the availability and quality of supplies, which shall include the same health and quality checks on products produced from third country imports as on those originating in the European Union;
2012/06/25
Committee: PECH
Amendment 2301 #

2011/0195(COD)

Proposal for a regulation
Part 8 – Article 43 – paragraph 1 – point d c (new)
(dc) providing consumers with supplies at reasonable prices.
2012/06/25
Committee: PECH
Amendment 2360 #

2011/0195(COD)

Proposal for a regulation
Part 9 – Article 45 – paragraph 1 – point c
(c) strengthen the competitiveness of the Union fishery and aquaculture industry, and promote its quality policies, paying particular attention to producers;
2012/06/25
Committee: PECH
Amendment 2369 #

2011/0195(COD)

Proposal for a regulation
Part 9 – Article 45 – paragraph 1 – point e
(e) contribute to ensuring a level playing field for all products marketed in the Union by promoting sustainable exploitation of fisheries resourcespromote sustainable exploitation of fisheries and aquaculture resources and incorporate health and social conditions into their exploitation, processing and marketing in order to achieve fair conditions in the marketing of products in the EU.
2012/06/25
Committee: PECH
Amendment 2375 #

2011/0195(COD)

Proposal for a regulation
Part 9 – Article 45 – paragraph 1 – point e a (new)
(ea) ensure that consumers have a diverse and high-quality supply of fishery and aquaculture products with sufficient information so that their decisions contribute to the achievement of the objectives established in this Regulation.
2012/06/25
Committee: PECH
Amendment 2388 #

2011/0195(COD)

Proposal for a regulation
Part 9 – Article 45 – paragraph 3 – point b a (new)
(ba) consumer information.
2012/06/25
Committee: PECH
Amendment 2397 #

2011/0195(COD)

Proposal for a regulation
Part 10 – Article 46 – paragraph 2 – point b
(b) the use of moderneffective control technologies for the availability and quality of data on fisheries;
2012/06/25
Committee: PECH
Amendment 2409 #

2011/0195(COD)

Proposal for a regulation
Part 10 – Article 46 – paragraph 2 – point e
(e) the establishment of effective, proportionate and dissuasive sanctions that are the same in all Member States.
2012/06/25
Committee: PECH
Amendment 2421 #

2011/0195(COD)

Proposal for a regulation
Part 10 – Article 48
Contribution to control, inspection and Member States may require holders of a fishing licence for fishing vessels of 12 meters length overall or more flying their flag to contribute proportionally to the costs of implementing the Union fisheries control system.Article 48 deleted enforcement costs
2012/06/25
Committee: PECH
Amendment 2425 #

2011/0195(COD)

Proposal for a regulation
Part 10 – Article 48 – paragraph 1
Member States may require holders of a fishing licence for fishing vessels of 12 meters length overall or more flying their flag to contribute proportionally to the costs of implementing the Union fisheries control system.deleted
2012/06/25
Committee: PECH
Amendment 2434 #

2011/0195(COD)

Proposal for a regulation
Part 11 – Article 49 – paragraph 1
Union financial assistance may be granted to contribute to the achievement of the long-term socioeconomic and environmental sustainability objectives set out in Articles 2 and 3.
2012/06/25
Committee: PECH
Amendment 2451 #

2011/0195(COD)

Proposal for a regulation
Part 11 – Article 51 – paragraph 2
2. Serious infringements by operators of the rules of the Common Fisheries Policy shall result in temporary or permanent bans on access to the Union financial assistance and/or the application of financial reductions. Such measures, implemented by the Member State, shall be proportionate to the nature, extent, duration and repetition of serious infringements.
2012/06/25
Committee: PECH
Amendment 2464 #

2011/0195(COD)

Proposal for a regulation
Part 12 – Article 52 – paragraph 2
2. The Commission shall be empowered to adopt delegated acts in accordance with Article 55 concerning amendments to that Annex to changeChanges to the areas of competence, tohe createion of new areas of competence for Advisory Councils or to createhe establishment of new Advisory Councils must be adopted by Parliament and the Council via the codecision procedure.
2012/06/25
Committee: PECH
Amendment 2475 #

2011/0195(COD)

Proposal for a regulation
Part 12 – Article 53 – paragraph 1 – point a
(a) submit recommendations and suggestions on matters of fisheries conservation and the socio-economic aspects relating to fisheries management and aquaculture to the Commission, Parliament or to the Member State concerned;
2012/06/25
Committee: PECH
Amendment 2482 #

2011/0195(COD)

Proposal for a regulation
Part 12 – Article 53 – paragraph 1 – point b
(b) inform the Commission, Parliament and Member States of problems relating to fisheries management and aquaculture in their area of competence;
2012/06/25
Committee: PECH
Amendment 2488 #

2011/0195(COD)

Proposal for a regulation
Part 12 – Article 53 – paragraph 1 – point c a (new)
(c a) issue binding opinions in response to consultations concerning the measures set out in Titles II and III of this regulation.
2012/06/25
Committee: PECH
Amendment 2506 #

2011/0195(COD)

Proposal for a regulation
Part 12 – Article 54 – paragraph 1
1. Advisory Councils shall be composed of organizsations representing the fisheries operators and other interest groups affected by the Common Fisheries PolicyMember States’ fisheries authorities, the fisheries operators, workers’ representatives and other interest groups affected by the Common Fisheries Policy. Representatives of the scientific community shall attend as observers.
2012/06/25
Committee: PECH
Amendment 2523 #

2011/0195(COD)

Proposal for a regulation
Part 12 – Article 54 – paragraph 4
4. The Ccommission shall be empowered to adopt delegated acts in accordance with Article 55 concerning the composition and the functioning of Advisory Councilsposition and the functioning of Advisory Councils shall be decided by Parliament and the Council via the ordinary legislative procedure of codecision.
2012/06/25
Committee: PECH
Amendment 74 #

2011/0194(COD)

Proposal for a regulation
Article 1 – paragraph 2 – point e a (new)
ea) trade policy
2012/04/13
Committee: PECH
Amendment 79 #

2011/0194(COD)

Proposal for a regulation
Article 3 – paragraph 1
The Common Market Organisation shall contribute to the achievement of the objectives laid down in Articles 2 and 3 of the Regulation on the Common Fisheries Policy and, in particular to improving market incentives to support sustainable production practices, the market position of EU production, producers’ market strategies to adapt EU production to structural market changes and short term fluctuations and to enhance the market potential of EU products.
2012/04/13
Committee: PECH
Amendment 84 #

2011/0194(COD)

Proposal for a regulation
Article 4 – paragraph 1
The Common Market Organisation shall be guided by the principles of good governance laid down in Article 4 of the Regulation on the Common Fisheries Policy, clearly defining responsibilities at the Union, national, regional and local levels, with a long-term perspective, the broad involvement of stakeholders, the responsibility of the flag State, and consistency with the integrated maritime policy, the trade policy and other Union policies.
2012/04/13
Committee: PECH
Amendment 92 #

2011/0194(COD)

Proposal for a regulation
Article 5 – paragraph 1 – point f a (new)
fa) ‘operator’, means the natural or legal person who operates or holds any enterprise carrying out any of the activities related to any stage of production, processing, marketing, distribution and sale of fisheries and aquaculture products;
2012/04/13
Committee: PECH
Amendment 95 #

2011/0194(COD)

Proposal for a regulation
Article 6 – paragraph 1 a (new)
For the purposes of setting up fishery producer organisations, the specific situation of small-scale inshore fishery and non-industrial fishery producers will need to be taken into account, and they should benefit from positive discrimination as regards access to aid for the establishment of producer organisations.
2012/04/13
Committee: PECH
Amendment 104 #

2011/0194(COD)

Proposal for a regulation
Article 7 – paragraph 1 – point a a (new)
aa) contributing to food supply and employment in coastal and rural areas;
2012/04/13
Committee: PECH
Amendment 109 #

2011/0194(COD)

Proposal for a regulation
Article 7 – paragraph 1 – point b
b) handling unwanted catches of commercial stocks in accordance with the production and marketing plans laid down in Article 32;
2012/04/13
Committee: PECH
Amendment 114 #

2011/0194(COD)

Proposal for a regulation
Article 7 – paragraph 1 – point b a (new)
ba) contributing to the elimination of illegal, unregistered and undeclared (IUU) fishing;
2012/04/13
Committee: PECH
Amendment 126 #

2011/0194(COD)

Proposal for a regulation
Article 7 – paragraph 1 – point e a (new)
ea) promoting professional cooperation programmes in the field of fisheries;
2012/04/13
Committee: PECH
Amendment 129 #

2011/0194(COD)

Proposal for a regulation
Article 7 – paragraph 1 – point e b (new)
eb) facilitating consumer access to information on fisheries products, which should be clear and comprehensive.
2012/04/13
Committee: PECH
Amendment 134 #

2011/0194(COD)

Proposal for a regulation
Article 8 – paragraph 1 – introductory part
Fishery producer organisations may make use, inter alia, of the following measures to achieve the objectives set out in Article 7:
2012/04/13
Committee: PECH
Amendment 137 #

2011/0194(COD)

Proposal for a regulation
Article 8 – paragraph 1 – point a
a) planning the management of the fishing activities of their members;
2012/04/13
Committee: PECH
Amendment 140 #

2011/0194(COD)

Proposal for a regulation
Article 8 – paragraph 1 – point a a (new)
aa) advise the Member States and regional authorities on matters relating to fisheries management;
2012/04/13
Committee: PECH
Amendment 160 #

2011/0194(COD)

Proposal for a regulation
Article 8 – paragraph 1 – point b – indent 3
– distributing landed products free of charge to philanthropic or charitable purposes.
2012/04/13
Committee: PECH
Amendment 164 #

2011/0194(COD)

Proposal for a regulation
Article 8 – paragraph 1 – point f a (new)
fa) improving quality, knowledge of and the transparency of production and the market, performing research studies and promoting Union fishery products;
2012/04/13
Committee: PECH
Amendment 169 #

2011/0194(COD)

Proposal for a regulation
Article 8 – paragraph 1 – point f a (new)
fa) supporting professional cooperation programmes in the field of fisheries;
2012/04/13
Committee: PECH
Amendment 172 #

2011/0194(COD)

Proposal for a regulation
Article 8 – paragraph 1 – point f c (new)
fc) promoting consumer access to information on fisheries products, which should be clear and comprehensive;
2012/04/13
Committee: PECH
Amendment 174 #

2011/0194(COD)

Proposal for a regulation
Article 8 – paragraph 1 – point f d (new)
fd) sending information voluntarily to the competent national authorities on the conservation status of marine ecosystems and fishery resources at such intervals and by such means as might be considered appropriate;
2012/04/13
Committee: PECH
Amendment 175 #

2011/0194(COD)

Proposal for a regulation
Article 8 – paragraph 1 – point f e (new)
fe) granting floor-rate financial compensation to help meet the costs of landing unwanted catches in cases where the proceeds of sales would be insufficient to cover those costs;
2012/04/13
Committee: PECH
Amendment 176 #

2011/0194(COD)

Proposal for a regulation
Article 8 – paragraph 1 – point f f (new)
ff) granting floor-rate financial compensation to help meet the costs of biological rest periods, at given critical phases of species’ life cycles, in order to conserve fishery resources and hence ensure that stocks will be such as to allow fishing to continue outside rest periods.
2012/04/13
Committee: PECH
Amendment 180 #

2011/0194(COD)

Proposal for a regulation
Article 10 – paragraph 1 – point a
a) promoting economically, socially and environmentally sustainable aquaculture activities of their members, by providing opportunities for their development in close cooperation with the Member States and regional authorities;
2012/04/13
Committee: PECH
Amendment 188 #

2011/0194(COD)

Proposal for a regulation
Article 10 – paragraph 1 – point b
b) contributing to food supply and, observing high food quality and safety standards, and to employment in coastal and rural areas;
2012/04/13
Committee: PECH
Amendment 191 #

2011/0194(COD)

Proposal for a regulation
Article 10 – paragraph 1 – point d a (new)
da) stabilising the markets;
2012/04/13
Committee: PECH
Amendment 195 #

2011/0194(COD)

Proposal for a regulation
Article 10 – paragraph 1 – point e a (new)
ea) promoting professional cooperation programmes in the field of aquaculture;
2012/04/13
Committee: PECH
Amendment 199 #

2011/0194(COD)

Proposal for a regulation
Article 10 – paragraph 1 – point e c (new)
ec) facilitating consumer access to information on aquaculture products;
2012/04/13
Committee: PECH
Amendment 203 #

2011/0194(COD)

Proposal for a regulation
Article 11 – paragraph 1 – introductory part
Aquaculture producer organisations may make use, inter alia, of the following measures to achieve the objectives referred to in Article 10:
2012/04/13
Committee: PECH
Amendment 206 #

2011/0194(COD)

Proposal for a regulation
Article 11 – paragraph 1 – point a a (new)
aa) planning the management of the aquaculture activities of their members;
2012/04/13
Committee: PECH
Amendment 207 #

2011/0194(COD)

Proposal for a regulation
Article 11 – paragraph 1 – point c
c) channelling the supply, price stabilisation and the marketing of members' products;
2012/04/13
Committee: PECH
Amendment 208 #

2011/0194(COD)

Proposal for a regulation
Article 11 – paragraph 1 – point c a (new)
ca) managing temporary storage for aquaculture products in conformity with Articles 35 and 36.
2012/04/13
Committee: PECH
Amendment 211 #

2011/0194(COD)

Proposal for a regulation
Article 11 – paragraph 1 – point e a (new)
ea) ) improving quality, knowledge of and the transparency of production and the market, performing research studies and promoting Union aquaculture products;
2012/04/13
Committee: PECH
Amendment 212 #

2011/0194(COD)

Proposal for a regulation
Article 11 – paragraph 1 – point e a (new)
ea) supporting professional cooperation programmes in the field of aquaculture;
2012/04/13
Committee: PECH
Amendment 214 #

2011/0194(COD)

Proposal for a regulation
Article 11 – paragraph 1 – point e c (new)
ec) promoting consumer access to information on aquaculture products, which should be clear and comprehensive;
2012/04/13
Committee: PECH
Amendment 230 #

2011/0194(COD)

Proposal for a regulation
Article 16 – paragraph 1 – point g a (new)
ga) encouraging and promoting quality and traceability.
2012/04/13
Committee: PECH
Amendment 231 #

2011/0194(COD)

Proposal for a regulation
Article 16 a (new)
Article 16a Management bodies for protected designations of origin Management bodies for protected designations of origin, established under the regulations in each Member State, may bring their objectives, measures, powers and the rights that are naturally theirs into line with those granted to professional organisations governed by this Regulation.
2012/04/13
Committee: PECH
Amendment 251 #

2011/0194(COD)

Proposal for a regulation
Article 19 – paragraph 1
Member States shall carry out checks at regular intervals to ascertain whether producer organisations, associations of producer organisations and inter-branch organisations comply with the conditions for recognition laid down in Articles 17 and 18 and shall, where appropriate, withdraw recognition of producer organisations, associations of producer organisations or inter-branch organisations.
2012/04/13
Committee: PECH
Amendment 252 #

2011/0194(COD)

Proposal for a regulation
Article 20 – paragraph 1
Member States whose nationals are members of a producer organisation, association of producer organisations or inter-branch organisation established in the territory of another Member State and those Member States hosting the official headquarters of an association of producer organisations recognised in different Member States shall set up, in collaboration with the relevant Member States, the administrative cooperation needed to carry out checks on the activities of the organisation or the association concerned.
2012/04/13
Committee: PECH
Amendment 266 #

2011/0194(COD)

Proposal for a regulation
Article 26 – title
Extension of rules of producer organisations and associations of producer organisations
2012/04/13
Committee: PECH
Amendment 267 #

2011/0194(COD)

Proposal for a regulation
Article 26 – paragraph 1 – introductory part
1. A Member State may make the rules agreed within a producer organisation or association of producer organisations binding on producers who are not members of the organisation or association and who market any of the products within the area in which the producer organisation or association of producer organisations is representative on condition that:
2012/04/13
Committee: PECH
Amendment 268 #

2011/0194(COD)

Proposal for a regulation
Article 26 – paragraph 1 – point a
a) the producer organisation or association of producer organisations is considered to be representative of production and marketing in one Member State and makes an application to the competent national authorities;
2012/04/13
Committee: PECH
Amendment 271 #

2011/0194(COD)

Proposal for a regulation
Article 26 – paragraph 1 – point b
b) the rules to be extended concern any of the measures for producer organisations or associations of producer organisations laid down in Article 8(a), (b), (c), (d), (e) and Article 11.
2012/04/13
Committee: PECH
Amendment 277 #

2011/0194(COD)

Proposal for a regulation
Article 26 – paragraph 2
2. For the purposes of paragraph 1(a) a fishery producer organisation or association of producer organisations is deemed representative where it accounts for at least 65 % of the quantities marketed of the relevant product during the previous year in the area where it is proposed to extend the rules.
2012/04/13
Committee: PECH
Amendment 284 #

2011/0194(COD)

Proposal for a regulation
Article 26 – paragraph 3
3. For the purposes of paragraph 1(a) an aquaculture producer organisation or association of producer organisations is considered to be representative where it covers at least 4065 % of the quantities marketed of the relevant product during the previous year in the area where it is proposed to extend the rules.
2012/04/13
Committee: PECH
Amendment 286 #

2011/0194(COD)

Proposal for a regulation
Article 26 – paragraph 4
4. The rules to be extended to non- members shall apply for a period between 90 days and 12 monthof no more than three years.
2012/04/13
Committee: PECH
Amendment 288 #

2011/0194(COD)

Proposal for a regulation
Article 29 – paragraph 1
1. Member States shall notify the Commission of the rules which they intenddecide to make binding on all producers or operators in a specific area or in specific areas pursuant to Articles 26 and 27.
2012/04/13
Committee: PECH
Amendment 289 #

2011/0194(COD)

Proposal for a regulation
Article 29 – paragraph 3
3. Within twoone months of receipt of the notification, the Commission shall take a decision authorising or refusing to authorise the extension of rules and shall inform the Member States. Where the Commission has not taken a decision within the twoone-month period, the extension of rules shall be deemed to have been authorised by the Commission.
2012/04/13
Committee: PECH
Amendment 295 #

2011/0194(COD)

Proposal for a regulation
Article 32 – paragraph 1
1. Each producer organisation shall submit a production and marketing plan to their competent national authorities to fulfil the objectives laid down in Article 3. Plans may take biological rest periods into account.
2012/04/13
Committee: PECH
Amendment 300 #

2011/0194(COD)

Proposal for a regulation
Article 32 – paragraph 2
2. The Member States shall approve the plan and inform the Commission thereof. Once approved, the producer organisation shall immediately implement the plan.
2012/04/13
Committee: PECH
Amendment 308 #

2011/0194(COD)

Proposal for a regulation
Article 35 – paragraph 1 – introductory part
Producer organisations may fully or partly finance the storage of fishery products listed in Annex II to this Regulation, along with other products to be determined by the Member States, provided that:
2012/04/13
Committee: PECH
Amendment 313 #

2011/0194(COD)

Proposal for a regulation
Article 35 – paragraph 1 – point d a (new)
da) the minimum and maximum period shall be clearly laid down.
2012/04/13
Committee: PECH
Amendment 314 #

2011/0194(COD)

Proposal for a regulation
Article 35 – paragraph 1 a (new)
Aquaculture producer organisations may temporarily finance the holding of live stock in aquaculture facilities, provided that: a) at the time the fish stock is slaughtered no buyer has been found for them at the trigger price referred to in Article 36; b) the products meet the marketing standards adopted under Article 39 and are of suitable quality for human consumption; c) the live aquaculture stock is being held in order to reintroduce it onto the market for human consumption at a later stage.
2012/04/13
Committee: PECH
Amendment 315 #

2011/0194(COD)

Proposal for a regulation
Article 36 – paragraph 1
1. Before the beginning of each year, each producer organisation may individually make a proposal for a price triggering the storage mechanism referred to in Article 35 for fishery products listed in Annex II, as well as for aquaculture products.
2012/04/13
Committee: PECH
Amendment 326 #

2011/0194(COD)

Proposal for a regulation
Article 38 – title
Collective fundFunding
2012/04/13
Committee: PECH
Amendment 329 #

2011/0194(COD)

Proposal for a regulation
Article 38 – paragraph -1
-1. The creation, restructuring and implementation of plans to improve the standards of producer organisations and their associations may be fully or partly funded through the European Maritime and Fisheries Fund.
2012/04/13
Committee: PECH
Amendment 332 #

2011/0194(COD)

Proposal for a regulation
Article 38 – paragraph 1 – introductory part
Each producer organisation may create a collective fund, which shall be used onprincipally to finance the following measures:
2012/04/13
Committee: PECH
Amendment 339 #

2011/0194(COD)

Proposal for a regulation
Article 39 – paragraph 2 – point a
a) minimum marketing sizes taking into account the best available scientific advice and in conformity with conservation reference sizes for fishery products as referred to in Article 15(32) of the Regulation on the Common Fisheries Policy;
2012/04/13
Committee: PECH
Amendment 344 #

2011/0194(COD)

Proposal for a regulation
Article 39 – paragraph 2 – point b a (new)
ba) specifications applicable to products from unwanted catches, below the minimum size or over the set quota.
2012/04/13
Committee: PECH
Amendment 357 #

2011/0194(COD)

Proposal for a regulation
Article 40 – paragraph 3
3. All fishery products landed, including those not complying with marketing standards, may be, under the responsibility of the Member States, distributed free of charge to philanthropic or charitable institutions established in the Union or to persons who are recognised by the legislation of the Member State concerned as being entitled to public assistance.
2012/04/13
Committee: PECH
Amendment 363 #

2011/0194(COD)

Proposal for a regulation
Article 41 – paragraph 1
The Commission shall be empowered to adopt delegated acts in accordance with Article 50, in order to definesupplement or enlarge upon the common marketing standards referred to in Article 39(1) with regard to quality, size or weight, packing, presentation and labelling, and, if experience gained in the implementation of the standards so requires, to amend them, while ensuring that the standards are defined in a fair and transparent manner;.
2012/04/13
Committee: PECH
Amendment 376 #

2011/0194(COD)

Proposal for a regulation
Article 42 – paragraph 1 – point c
c) the area where the product was caught or farmed;, including its coastal and geographical denomination, expressed in terms understandable to consumers
2012/04/13
Committee: PECH
Amendment 381 #

2011/0194(COD)

Proposal for a regulation
Article 42 – paragraph 1 – point d
d) the date of catch of fishery products obtained by vessels operating on 24-hour tides for fresh same-day sale or harvest of extensive aquaculture products;
2012/04/13
Committee: PECH
Amendment 385 #

2011/0194(COD)

Proposal for a regulation
Article 42 – paragraph 1 – point e
e) whether the product is freshozen or has been defrosted; for sale to consumers, pursuant to annex VI of Regulation 1169/2011.
2012/04/13
Committee: PECH
Amendment 389 #

2011/0194(COD)

Proposal for a regulation
Article 42 – paragraph 2 – introductory part
2. Fishery and aquaculture products referred to in parts (h) and (i) of Annex I, which are marketed within the Union, irrespective of their origin, with the exception of prepared or canned products covered by Regulation (EU) No 1169/2011, may only be offered for retail to the final consumer where appropriate marking or labelling indicates::
2012/04/13
Committee: PECH
Amendment 399 #

2011/0194(COD)

Proposal for a regulation
Article 42 – paragraph 4 – point c a (new)
ca) Council Regulation (EC) No 510/2006 of 20 March 2006 on the protection of geographical indications and designations of origin for agricultural products and foodstuffs.
2012/04/13
Committee: PECH
Amendment 401 #

2011/0194(COD)

Proposal for a regulation
Article 42 a (new)
Article 42a Labelling initiative Following prior consultation with the interested parties, the Commission shall, by 1 July 2014, submit a report to the European Parliament , together with the appropriate legislative proposals, on the establishment of a labelling system for fishery and aquaculture products, which shall comprise: a) an ecological labelling system for sustainable fishing within maximum sustainable yield (MSY) and for traditional aquaculture products. b) a Union label for all fishery and aquaculture products obtained by means of practices which comply with relevant Union rules.
2012/04/13
Committee: PECH
Amendment 408 #

2011/0194(COD)

Proposal for a regulation
Article 43 – paragraph 1 – point a
a) the scientific name for each species according to the FishBase Information System, for fish species, and the SeaLifeBase or WoRMS systems for other species;
2012/04/13
Committee: PECH
Amendment 417 #

2011/0194(COD)

Proposal for a regulation
Article 44 – paragraph 1 – point a
a) in the case of fishery products caught at sea, the name of one of the areas, subareas or divisions listed in the FAO Fishing Areas, including its coastal and geographical denomination, expressed in terms understandable to consumers;
2012/04/13
Committee: PECH
Amendment 423 #

2011/0194(COD)

Proposal for a regulation
Article 44 – paragraph 2
2. In addition to the information referred to in paragraph 1, operators may indicate a more precise catch or production area, without prejudice to Regulation (EC) No 510/2006.
2012/04/13
Committee: PECH
Amendment 430 #

2011/0194(COD)

Proposal for a regulation
Article 45 – paragraph 1 – point e a (new)
ea) information on the port at which the product was landed.
2012/04/13
Committee: PECH
Amendment 431 #

2011/0194(COD)

Proposal for a regulation
Article 45 – paragraph 1 – point e a (new)
ea) the date of catch of fishery products or harvest of aquaculture products which are not required to display this information pursuant to Article 42;
2012/04/13
Committee: PECH
Amendment 432 #

2011/0194(COD)

Proposal for a regulation
Article 45 – paragraph 1 a (new)
1a. No voluntary information shall be included that cannot be checked.
2012/04/13
Committee: PECH
Amendment 437 #

2011/0194(COD)

Proposal for a regulation
Article 46 – paragraph 1 – point a
a) supplement or amendenlarge upon the mandatory information requirements referred to in Article 42(1), Article 42(2), Article 43 and Article 44, while ensuring that the mandatory information is performrovided in an accurate and transparent manner;
2012/04/13
Committee: PECH
Amendment 440 #

2011/0194(COD)

Proposal for a regulation
Article 46 – paragraph 1 – point b
b) setpecify minimum criteria for information voluntarily provided by operators referred to in Article 45(1), while ensuring that the conditions for displaying voluntary information are accurate, transparent and non-discriminatory.
2012/04/13
Committee: PECH
Amendment 442 #

2011/0194(COD)

Proposal for a regulation
Article 46 – paragraph 1 a (new)
The delegated acts shall be adopted following due consultation of the interested parties with the consultative council for horizontal affairs and the fishery and aquaculture products market.
2012/04/13
Committee: PECH
Amendment 443 #

2011/0194(COD)

Proposal for a regulation
Article 49 – paragraph 1 – point b
b) survey prices regularly along the Union supply chain for fishery and aquaculture products and conduct analyses on market trends, and make the findings of those surveys and analyses public;
2012/04/13
Committee: PECH
Amendment 449 #

2011/0194(COD)

Proposal for a regulation
Chapter VI a (new)
Chapter VIa Trade policy with third States
2012/04/13
Committee: PECH
Amendment 450 #

2011/0194(COD)

Proposal for a regulation
Article 49 a (new)
Article 49a Safeguard measures 1. Where, by reason of imports or exports, the Union market in one or more of the products listed in Article 1 is affected by, or is threatened with, serious disturbance likely to jeopardise the achievement of the objectives set out in Article 33 of the Treaty on the Functioning of the European Union, appropriate measures may be applied in trade with third countries until such disturbance or threat of disturbance has ceased. 2. The Commission may adopt the measures referred to in paragraph 1 on its own initiative or at the request of the European Parliament or a Member State. The adoption of measures on the initiative of the Commission and their derogation or amendment shall take place pursuant to the procedures laid out in Article 16 of Council Regulation (EC) No 3285/94 of the Council, of 22 December 1994, on common rules for imports. If the Commission receives a request from the European Parliament or from a Member State, it shall take a decision thereon within five working days following receipt of the request. The European Parliament and the Member States shall be notified of such measures, which shall be immediately applicable.
2012/04/13
Committee: PECH
Amendment 451 #

2011/0194(COD)

Proposal for a regulation
Article 49 b (new)
Article 49b External investment The Member States may support the export and investment activities of Union fisheries enterprises in third countries using measures compatible with the rules of the World Trade Organisation (WTO).
2012/04/13
Committee: PECH
Amendment 456 #

2011/0194(COD)

Proposal for a regulation
Article 53 – paragraph 1 a
Likewise, fishery and aquaculture products labelled or marked prior to the entry into force of this Regulation may be sold while stocks remain.
2012/04/13
Committee: PECH
Amendment 459 #

2011/0194(COD)

Proposal for a regulation
Article 55 – paragraph 2
It shall apply from 1 January 2013 with the exception of Articles 32, 35 and 36, which shall apply from 1 January 2014, and of Article 42, which shall apply on the dates on which the measures on consumer information shall become applicable, as indicated in Regulation (EU) No 1169/2011.
2012/04/13
Committee: PECH
Amendment 2 #

2011/0139(NLE)

Draft legislative resolution
Paragraph 1
1. Declines to cConsents to conclusion of the Protocol;
2011/10/19
Committee: PECH
Amendment 3 #

2011/0139(NLE)

Draft legislative resolution
Paragraph 2
2. Instructs its President to notify the Council that the Protocol cannot be concluddeleted;
2011/10/19
Committee: PECH
Amendment 204 #

2011/0062(COD)

Proposal for a directive
Recital 14 a (new)
(14a) Cross-selling practices are a common strategy for retail financial service providers throughout the Union. They are an integral part of creditors’ commercial strategies and can help limit creditors’ risks and reduce costs. However, certain forms of cross-selling practices, namely tying practices where two or more financial services are sold together in a package and at least one of those services is not available separately, can distort competition and negatively affect customer mobility and consumers’ ability to make informed choices. The use of such practices should be restricted in order to promote competition and consumer choice. Bundling, where two or more financial services are sold together in a package, but each of the services can also be purchased separately, is allowed under this Directive. However, Member States should monitor retail financial services markets closely to ensure that bundling does not excessively distort competition on the market and choice for consumers.
2011/10/06
Committee: ECON
Amendment 206 #

2011/0062(COD)

Proposal for a directive
Recital 14 b (new)
(14b) Flexibility during the life of the contract can help both creditors and consumers to manage debt responsibly, in line with good practice identified by the Financial Stability Board. It is therefore appropriate to ensure that consumers who wish to move home can retain their credit agreement where they can provide appropriate collateral from a new property, that consumers as well as creditors have the possibility to transfer a credit agreement to a third party creditor where that third party makes a binding offer which improves on the terms of the existing credit agreement, and to provide for payment flexibility to enable consumers to overpay when they can and hence build up a reserve of funds which can help them in periods where their income and hence ability to repay the loan might be lower, to the benefit of creditors as well as consumers.
2011/10/06
Committee: ECON
Amendment 226 #

2011/0062(COD)

Proposal for a directive
Recital 24
(24) An assessment of creditworthiness should take into consideration all necessary factors that could influence a consumer’s ability to repay over the lifetime of the loan including, but not limited to, the consumer’s income, regular expenditures, credit score, past credit history, ability to handle interest rate adjustments, and other existing credit commitments. AddiTo that end, they should be allowed to use informational provisions may be necessary to further elaborateded by the consumer not only during the preparation onf the different elements that may be taken into consideration in a creditworthiness assessmentcredit agreement in question, but also during a long-standing commercial relationship. Member States may issue additional guidance on the method and criteria to assess a consumer’s creditworthiness, for example by setting limits on loan-to-value or loan-to-income ratios in addition to the reference levels for such ratios which should be established to identify when stricter prudential or other supervisory measures are warranted.
2011/10/06
Committee: ECON
Amendment 238 #

2011/0062(COD)

Proposal for a directive
Recital 29
(29) Where a decision to reject an application for credit is made, the creditor should explain at high level the reason for the rejection but should not be required to divulge the assessment methodology required to reach the decision. Where a decision to reject an application for credit is based on data obtained through the consultation of a database or the lack of data therein, the creditor should inform the consumer thereof, of the name of the database consulted and of any other elements required by Directive 95/46/EC so as to enable the consumer to exercise his right to access and, where necessary, rectify, erase or block personal data concerning him and processed therein. Where a decision to reject an application for credit is based on an automated decision or on systematic methods such as credit scoring systems, the creditor should inform the consumer thereof and explain the logic involved in the decision and of the arrangements enabling the consumer to request the automated decision to be reviewed manually. However, the creditor should not be required to give such information when to do so would be prohibited by other Union legislation such as legislation on money laundering or the financing of terrorism. Neither should such information be provided where to do so would be contrary to the objectives of public policy or public security such as the prevention, investigation, detection or prosecution of criminal offences.
2011/10/06
Committee: ECON
Amendment 297 #

2011/0062(COD)

Proposal for a directive
Article 2 – paragraph 2 – point a
(a) Credit agreements which will eventually be repaid from the sale proceeds of an immovable property. ere the creditor advances a lump sum of money or makes periodic payments or other forms of credit disbursement to the consumer who has an existing proprietary right in residential immovable property in return for a sum deriving from the future sale of the residential immovable property or a right in the residential immovable property to which the credit agreement relates and will not seek repayment of the credit until the occurrence of one or more specified life events of the consumer, unless a breach of contractual obligations that allows the creditor to terminate the credit agreement occurs.
2011/10/06
Committee: ECON
Amendment 315 #

2011/0062(COD)

Proposal for a directive
Article 3 – paragraph 1 – point d a (new)
(da) ‘Tying practice’ means the selling of an ancillary service with the credit agreement in a package where the credit agreement is not made available to the consumer separately.
2011/10/06
Committee: ECON
Amendment 322 #

2011/0062(COD)

Proposal for a directive
Article 3 – paragraph 1 – point i
(i) ‘Non-credit institution’ means any natural or legal person who grants or promises to grant credit within the meaning of Article 2 in the course of his trade, business or profession andcreditor that is not a credit institution.
2011/10/06
Committee: ECON
Amendment 335 #

2011/0062(COD)

Proposal for a directive
Article 3 – paragraph 1 – point o
(o) ‘Creditworthiness assessment’ means the evaluation of a consumer’s ability to meet his debt obligationsthe prospect for the debt obligations resulting from the credit agreement to be repaid.
2011/10/06
Committee: ECON
Amendment 342 #

2011/0062(COD)

Proposal for a directive
Article 3 – paragraph 1 – point r a (new)
(ra) ‘Appraisal’ means the valuation of residential immovable property or the land on which such residential immovable property is or could be situated.
2011/10/06
Committee: ECON
Amendment 344 #

2011/0062(COD)

Proposal for a directive
Article 3 – paragraph 1 – point r b (new)
(rb) ‘Appraiser’ means a natural or legal person who, in the course of his trade, business or profession, makes an appraisal.
2011/10/06
Committee: ECON
Amendment 345 #

2011/0062(COD)

Proposal for a directive
Article 3 – paragraph 1 – point r c (new)
(rc) ‘Deposit account’ means a ‘Payment account’ as defined in Article 4(14) of Directive 2007/64 or an account through which a credit institution authorised in accordance with Directive 2006/48/EC takes deposits or other repayable funds from the public.
2011/10/06
Committee: ECON
Amendment 365 #

2011/0062(COD)

Proposal for a directive
Article 5 – paragraph 2 a (new)
2a. Member States shall in particular ensure that the remuneration of creditors’ staff responsible for the assessment of the creditworthiness or for the provision of advice is not linked to targets for the value or volume of lending or for the sale or profitability of individual products.
2011/10/06
Committee: ECON
Amendment 374 #

2011/0062(COD)

Proposal for a directive
Article 6 – paragraph 1 – point a
(a) The staff of creditors and credit intermediaries possess an appropriate level of knowledge and competence in relation to the offering or granting of credit agreements within the meaning of Article 2, or the activity of credit intermediation as defined in Article 3(e). W, and in relation to any associated ancillary service, appropriate to the function they are performing and the relevant market. In particular, where the conclusion of a credit agreement includes an ancillary service related to it, in particular insurance or investment services, they shall also possess appropriate knowledge and competence in relation to that ancillary service in order to satisfy the requirements set out in Article 19 of Directive 2004/39/EC and Article 4 of Directive 2002/92/EC.
2011/10/06
Committee: ECON
Amendment 445 #

2011/0062(COD)

Proposal for a directive
Article 9 – paragraph 1 – subparagraph 2 – point j
(j) whether a valuation of the property is necessary and, where applicable, by whom it should be carried outif applicable, information on the measures required from the consumer regarding the valuation of the property and any related cost to the consumer;
2011/10/06
Committee: ECON
Amendment 461 #

2011/0062(COD)

Proposal for a directive
Article 9 – paragraph 2 – subparagraph 1
Member States shall ensure that the creditor and, where applicable, the credit intermediary, without undue delay after the consumer has given the necessary information on his needs, financial situation and preferences in accordance with Article 14, provides the consumer for free with the personalised information needed to compare the credits available on the market, assess their implications and take an informed decision on whether to conclude a credit agreement in good time after the consumer has given the necessary information on his needs, financial situation and preferences in accordance with Article 14 and before the consumer is bound by any credit agreement or offer. Such information, on paper or on another durable medium, shall be provided by means of the European Standardised Information Sheet (‘ESIS’), as set out in Annex II.
2011/10/06
Committee: ECON
Amendment 473 #

2011/0062(COD)

Proposal for a directive
Article 9 – paragraph 2 – subparagraph 2
Member States shall ensure that when an offer binding on the creditoffer is provided to the consumer, it shall be accompanied by an ESIS. In such circumstances, Member States shall ensure that the credit agreement cannot be concluded until the consumer has had sufficient time if none has been provided to the consumer previously or the characteristics of the offer are different from those contained in the ESIS previously provided, and that the credit agreement cannot be concluded until the consumer has been provided in a durable medium with an offer binding on the creditor and has a sufficient period of reflection which is no less than 14 working days to compare it with other offers, obtain third party advice if necessary and assess theirits implications and take an informed decision on whether to accept anthe offer, regardless of the means of conclusion of the contract. Where a Member State allows the credit agreement to be concluded before the end of the reflection period it shall provide for a right of withdrawal from the credit agreement for at least the remainder of the reflection period.
2011/10/06
Committee: ECON
Amendment 484 #

2011/0062(COD)

Proposal for a directive
Article 9 – paragraph 4 a (new)
4a. The provisions of Article 3(3)b and Article 5(2) of Directive 2002/65/EC shall not apply to credit agreements.
2011/10/06
Committee: ECON
Amendment 487 #

2011/0062(COD)

Proposal for a directive
Article 9 – paragraph 5
5. Member States shall ensure that the creditor or credit intermediary, upon request of the consumer, provides the consumer with a copy of the draft credit agreement in a durable medium free of charge. This provision shall not apply in cases where the creditor is unwilling, at the time of the request, to proceed to the conclusion of the credit agreement with the consumer.
2011/10/06
Committee: ECON
Amendment 490 #

2011/0062(COD)

Proposal for a directive
Article 9 a (new)
Article 9 a Tying practices 1. Member States shall prohibit tying practice. 2. Member States may however provide that creditors can request the opening of a payment account or an insurance policy, the aim of which is to guarantee repayment of the credit or insure the value of the collateral, to be purchased by the consumer with the credit. In such circumstances, Member States may provide that creditors may refuse to grant the credit to the consumer in case the insurance provided by the consumer does not have similar characteristics as the one offered by the provider suggested by the creditor.
2011/10/06
Committee: ECON
Amendment 492 #

2011/0062(COD)

Proposal for a directive
Article 9 b (new)
Article 9b Supply and formalization of the credit agreement In relation to supply and formalization of a credit agreement, the appraised or appraisal company, notaries, legal advisers or any other provider will be chosen by mutual agreement of the parties.
2011/10/06
Committee: ECON
Amendment 502 #

2011/0062(COD)

Proposal for a directive
Article 10 – paragraph 2
2. Credit intermediaries who are not tied shall, at the consumer’s request, provide information on the variation in levels of commission payable by the different creditors providing the credit agreements being offered to the consumer. The consumer shall be informed that he has the right to request such information.
2011/10/06
Committee: ECON
Amendment 531 #

2011/0062(COD)

Proposal for a directive
Article 12 – paragraph 2 – subparagraph 2
Where the opening of an payment account is obligatory in order to obtain the credit, the costs of maintaining such an account, the costs of using a means of payment for both payment transactions and drawdowns on that account, and other costs relating to payment transactions shall be included in the total cost of crediloan cost to the consumer, unless the costs have been clearly and separately shown in the credit agreement or in any other agreement concluded with the consumer.
2011/10/06
Committee: ECON
Amendment 532 #

2011/0062(COD)

Proposal for a directive
Article 12 – paragraph 2 – subparagraph 2 a (new)
Where a credit agreement allows for a repayment structure where the accrued interest is not fully paid, and the amount of the additional interest due is added to the total loan amount, this shall be included in the total loan amount used in the calculation.
2011/10/06
Committee: ECON
Amendment 535 #

2011/0062(COD)

Proposal for a directive
Article 12 – paragraph 4
4. In the case of credit agreements containing clauses allowing variations in the borrowing rate and, where applicable, in the charges contained in the annual percentage rate of charge but unquantifiable at the time of calculation, the annual percentage rate of charge shall be calculated on the assumption that the borrowing rate and other charges will be calculated at the level seimplied by the credit agreement at the signature of the contract.
2011/10/06
Committee: ECON
Amendment 562 #

2011/0062(COD)

Proposal for a directive
Article 14 – paragraph 1 a (new)
1 a. Member States shall ensure that the assessment of creditworthiness shall be applied without discrimination to loans relating to residential immovable property located within their territory and shall include at least the following criteria: (a) the assessment shall not allow any reliance on an increase in the value of the property as a means of repaying the loan; (b) the assessment shall be made on the basis of the consumer’s current net disposable income, taking account of social benefits, debts and other financial commitments as well as foreseeable changes due to retirement during the term of the loan; where the assessment relates to a credit agreement under which the consumer will not occupy the property and which allows the consumer to rent the property to a third party, Member States may allow creditors to take account of reasonable projected rental income in carrying out the creditworthiness assessment; (c) the assessment shall be based on a realistic assessment of the repayment amount which shall be sufficient to repay the debt by final maturity at the fully indexed rate assuming a fully amortising repayment schedule and of the repayment structure which shall include foreseeable changes arising from the structure of the product, an allowance for increases in adjustable rates where such increases are permitted under the credit agreement, and where applicable an allowance for the impact of negative amortization on subsequent payments.
2011/10/06
Committee: ECON
Amendment 580 #

2011/0062(COD)

Proposal for a directive
Article 14 – paragraph 2 – point b
(b) Where the credit application is rejected on the basis of a negative creditworthiness assessment for the consumer, the creditor informs the consumer immediately and withoutfree of charge of the main reasons for such rejection.
2011/10/06
Committee: ECON
Amendment 622 #

2011/0062(COD)

Proposal for a directive
Article 16 – paragraph 1 a (new)
1 a. Member States shall ensure that adequate mechanisms to compensate consumers are in place if an adverse decision not to grant a loan was taken by a credit institution on the basis of an inaccurate credit report provided by a credit register.
2011/10/06
Committee: ECON
Amendment 628 #

2011/0062(COD)

Proposal for a directive
Article 16 – paragraph 2 – subparagraph 1
Powers are delegated to the Commission in accordance with Article 26 and subject to the conditions ofIn order to ensure consistent harmonisation of paragraph 1, the Commission shall be empowered to adopt delegated acts in accordance with Articles 27 and 286, to define uniforminimum credit registration criteria and data processing conditions to be applied to the databases referred to in paragraph 1 of this Article.
2011/10/06
Committee: ECON
Amendment 680 #

2011/0062(COD)

Proposal for a directive
Article 18 – paragraph 2 – subparagraph 2
Where a Member State lays down such conditions, these shall not make the exercise of the right referred to in paragraph 1 excessively difficult or onerous for the consumer. Member States shall ensure that the following provisions are complied with: (a) where the credit agreement is funded by callable instruments negotiated in regulated markets, the consumer is entitled to repay the credit agreement at a value determined by market conditions for the callable instrument; (b) where the credit agreement relates to a loan with a fixed interest rate for part or all of the term of the agreement and is funded by long-term means other than those within the scope of (a), the consumer is be entitled to repay the credit agreement: (i) free of charge after expiry of the fixed interest rate period; or (ii) before expiry of the fixed interest rate period, in cases where the consumer has a special interest, upon payment of compensation to the creditor for potential costs directly linked to early repayment of the credit; (c) in credit agreements not referred to in points (a) or (b), the consumer is entitled to repay the credit agreement within a period which is no longer than three months after giving notice to the creditor of his desire to do so. In the context of point (b)(ii), the existence of a consumer's special interest shall be recognised at least in situations involving involuntary loss of employment, need for mobility, serious illness or death. In the context of point (c), Member States may maintain a statutory or contractual compensation for early repayment may exist but shall not be higher than 1 % of the outstanding debt.
2011/10/06
Committee: ECON
Amendment 690 #

2011/0062(COD)

Proposal for a directive
Article 18 a (new)
Article 18a Conversion of foreign currency loans 1. Member States shall ensure that where a credit agreement relates to a loan in a currency other than that in which the consumer holds the majority of assets or receives the majority of income from which the loan is to be repaid, the consumer shall have the right to convert the loan into the currency of the consumer’s assets or income within a reasonable period. 2. Member States shall provide that the creditor should be entitled to obtain fair and objectively justified compensation for potential costs directly linked to the exercise of the right but shall not allow creditors to impose a penalty arising from the exercise of the right.
2011/10/06
Committee: ECON
Amendment 695 #

2011/0062(COD)

Proposal for a directive
Article 18 b (new)
Article 18b Payment flexibility Member States shall ensure that creditors allow consumers to make payments which exceed the amount required by the amortisation structure of the loan contained in the credit agreement without penalty and thereby have the right to reduce or temporarily cease the payments due under the amortization structure up to the value by which they have previously exceeded the required amount.
2011/10/06
Committee: ECON
Amendment 703 #

2011/0062(COD)

Proposal for a directive
Article 18 c (new)
Article 18c Switching of borrower 1. Where Member States allow the transfer from a borrower to a consumer of a credit agreement which would be within the scope of Article 2(1)if it were transferred to the consumer in parallel to the sale of a property on condition that the creditor has satisfied the requirements of this directive and in particular has carried out a creditworthiness assessment of the consumer in accordance with Article 14 and has not concluded that there is a negative prospect for his ability to repay and has provided the consumer with a binding offer prior to the transfer of the credit agreement. 2. Member States shall prohibit developers from tying the sale of a projected or existing property by making it conditional upon the transfer to the consumer of a credit agreement which would be within the scope of Article 2(1) if it were transferred to the consumer.
2011/10/06
Committee: ECON
Amendment 716 #

2011/0062(COD)

Proposal for a directive
Article -19 a (new)
Article -19a Special prudential requirements 1. Member States shall ensure that the local competent authorities formulate and publish binding standards for different categories of credit agreements which constitute special risk credit agreements. 2. Those binding standards shall include at least: (a) additional information and risk warnings to be included in pre- contractual information relating to special risk products; (b) special prudential measures as described in Article -19(2). 3. Member States shall ensure that the following credit agreements are always deemed to be special risk credit agreements: (a) credit agreements where the loan is granted in a currency other than that in which the consumer holds the majority of assets or receives the majority of income; (b) credit agreements which allow for significant variation in interest payments during the term of the agreement; (c) credit agreements where it is agreed between the parties that the return of the collateral will be sufficient to repay the loan. 4. Member States shall ensure that local competent authorities have powers to specify additional features which shall be deemed to constitute special risk credit agreements within their territory.
2011/10/06
Committee: ECON
Amendment 358 #

2011/0006(COD)

Proposal for a directive
Article 2 – point 15
Directive 2009/138/EC
Article 77a – paragraph 1
EIOPA shall publish technical information including the relevant risk-free interest rate term structure. Where EIOPA observes an illiquidity premium in the financial markets in periods of stressed liquidity, information relating to the illiquidity premium, including its size shall also be publishedThis technical information shall allow insurance and reinsurance undertakings to calculate the counter- cyclical premium, specially in periods of stress in financial markets; and the matching premium where the cash flows of the insurance liabilities match with the cash flows of high quality assets for the duration of an insurance contract. EIOPA shall carry out the observation of the illiquiditycounter-cyclical premium and the matching premium, and the derivation of the information oin a transparent, objective and reliable basismanner. Information for all these purposes shall be derived according tofrom methods and assumptions which may include formulae, or determinations made by EIOPA. This shall be done in consistency with the provisions laid out in Article 86 of the present Directive.
2011/09/23
Committee: ECON
Amendment 365 #

2011/0006(COD)

Proposal for a directive
Article 2 – point 15
Directive 2009/138/EC
Article 77a – paragraph 2
The information referred to in the first paragraph shall be published for each relevant currency on at least a quarterly basis in a manner which is consistent with the methodologies referred to in Article 86.’. Insurance and reinsurance undertakings shall use the relevant risk free interest rate term structure formulae published by EIOPA in accordance with this Article when calculating technical provisions in accordance with this directive.
2011/09/23
Committee: ECON
Amendment 371 #

2011/0006(COD)

Proposal for a directive
Article 2 – point 16
Directive 2009/138/EC
Article 86 – paragraph 1 – point b a (new)
(ba) the insurance contracts for which the matching premium is applicable, the eligibility criteria of the type of assets allowed for backing the insurance liabilities and the method of calculation of the matching premium on an expected default basis;
2011/09/23
Committee: ECON
Amendment 60 #

2010/2302(INI)

Motion for a resolution
Paragraph 5
5. Expresses the view that market participants should not invest in structured products if they cannot assess the underlying credit risk themselvesappropriately, or alternatively that they should apply the highest risk weighting;
2011/01/20
Committee: ECON
Amendment 67 #

2010/2302(INI)

Motion for a resolution
Paragraph 7
7. Is aware of the inherent conflict of interest if market participants devise internal credit risk assessments for their own regulatory capital requirements, and hence sees the need to increase supervisors' capacity and resources for monitoring, assessing, and overseeing the adequacy of the internal models and imposing prudential measures;
2011/01/20
Committee: ECON
Amendment 74 #

2010/2302(INI)

Motion for a resolution
Paragraph 8
8. Highlights the global nature of the credit rating industry and urges the Commission and Member States to work together with other G20 countries on a global approach in order to preserve a level playing field and prevent regulatory arbitrage while keeping markets open;
2011/01/20
Committee: ECON
Amendment 119 #

2010/2302(INI)

Motion for a resolution
Paragraph 15 a (new)
15 a. Notes that, in addition to their rating activity, most Credit Rating Agencies issue a number of outlooks, reviews, warnings and watches which do have a significant impact on the markets. Is of the opinion that they should be disclosed according to predetermined criterion and protocols that ensure transparency and confidentiality;
2011/01/20
Committee: ECON
Amendment 120 #

2010/2302(INI)

Motion for a resolution
Paragraph 15 b (new)
15 b. Believes that increased competition in the sector should not result in “rating shopping” practices;
2011/01/20
Committee: ECON
Amendment 148 #

2010/2302(INI)

Motion for a resolution
Paragraph 20 a (new)
20 a. Notes that CRA's shall use clear criteria to score country performance, is aware of the fact that the actual rating is not a mechanical weighting of these factors. Asks the industry to clarify which methodology and judgements are used to calibrate sovereign ratings and to explain deviation from this model-generated ratings and from the forecasts of the main international financial institutions;
2011/01/20
Committee: ECON
Amendment 149 #

2010/2302(INI)

Motion for a resolution
Paragraph 20 b (new)
20 b. Is concerned about the fact that the most traditional sustainability rating drivers, such as the fiscal balance and debt level, played a proportionally greater role in driving negative rating actions than positive ones;
2011/01/20
Committee: ECON
Amendment 150 #

2010/2302(INI)

Motion for a resolution
Paragraph 20 c (new)
20 c. Notes that, according to the IMF, ratings could explain up to almost a 70% of the CDS spreads. Is concerned about the pro-cyclical effects that ratings may have and demands a special consideration of these sensitive issues;
2011/01/20
Committee: ECON
Amendment 151 #

2010/2302(INI)

Motion for a resolution
Paragraph 20 d (new)
20 d. Believes that, in order to reduce the negative “cliff effects” in prices and spreads that rating changes imply, the regulation that hardwire buy or sell decisions to ratings should be eliminated;
2011/01/20
Committee: ECON
Amendment 168 #

2010/2302(INI)

Motion for a resolution
Paragraph 22
22. Supports the existence of various payment models in the industry as long as inherent conflicts of interest are addressed by regulatory means; asks the Commission, following consultation with stakeholders, in particular the credit rating industry, to come forward with proposals for alternative viable payment models that involve both issuers and users;
2011/01/20
Committee: ECON
Amendment 177 #

2010/2302(INI)

Motion for a resolution
Paragraph 22 a (new)
22 a. Notes that conflicts of interests are still present and considers that the credit rating activity should respond to a new model in which tight operational is introduced (internal controls, qualification standards, etc.); asks the industry to put relevant information about their analysts (such as remuneration incentives, patrimonial interests, agenda and other relevant records) at the disposal of the supervisors;
2011/01/20
Committee: ECON
Amendment 183 #

2010/2302(INI)

Motion for a resolution
Paragraph 23
23. Considers that if credit ratings fulfil a regulatory purpose they should not be classified as mere opinions, and that CRAs should be held accountable for their credit ratings; recommends therefore that CRAs exposure to civil liability in the event of gross negligencesignificant negligence, misconduct and rating inaccuracy be increased and that provisions to that effect be anchored in Member States’ civil law;
2011/01/20
Committee: ECON
Amendment 6 #

2010/2210(INI)

Motion for a resolution
Recital A
A. whereas the seas and oceans represent 99% of the available living space, and 71% of planet Earth is covered by oceans, which store 16 times as much carbon dioxide as the terrestrial world and play a fundamental role in the climate and life support systems of the entire planet, as well as providing a substantial portion of the global population with food, livelihoods, energy and transport routes,
2011/06/21
Committee: PECH
Amendment 8 #

2010/2210(INI)

Motion for a resolution
Recital B
B. whereas Illegal, Unreported and Unregulated (IUU) fishing has been reported to account for between 11 and 26 million tonnes a year, equivalent to at least 15% of world catches, making sustainable management - with the long-term integration of the economic, social and environmental dimension - of the exploitation of the world’s marine resources impossible,
2011/06/21
Committee: PECH
Amendment 11 #

2010/2210(INI)

Motion for a resolution
Recital E a (new)
Ea. whereas one of the objectives of the FAO Agreement on port state measures to prevent, deter and eliminate illegal, unreported and unregulated fishing is to eliminate 'ports of convenience' that provide a safe haven for IUU vessels and serve as a port of entry for the trade in illegal catches,
2011/06/21
Committee: PECH
Amendment 17 #

2010/2210(INI)

Motion for a resolution
Paragraph 1
1. Believes that IUU fishing is one of the most serious threats facing the biodiversity of the world's oceans; and the very sustainability of fishery resources, fishing activity and trade;
2011/06/21
Committee: PECH
Amendment 26 #

2010/2210(INI)

Motion for a resolution
Paragraph 2
2. Considers that the new EU control package, consisting of the IUU Regulation, the Control Regulation and the Fishing Authorisations5 Regulation, constitutes a comprehensive set of instruments to combat this scourge of the oceans and of shared sustainable development, since it specifies the flag, coastal, port and market State responsibilities of both the EU Member States and third countries;
2011/06/21
Committee: PECH
Amendment 57 #

2010/2210(INI)

Motion for a resolution
Paragraph 6
6. Emphasises that past limitations in monitoring and enforcement of oceans have been largely overcome by technological advances, and that the key to combating IUU fishing today lies primarily with governments finding the political will to act effectively and responsibly;
2011/06/21
Committee: PECH
Amendment 59 #

2010/2210(INI)

Motion for a resolution
Paragraph 7
7. Considers that improving transparency in all aspects of the fishing industry and their activities, including agreeing on international criteria to establish the real, beneficial ownership of vessels, as well as the rights or licences they hold for their maritime activities, at any time and in an electronically accessible way, is crucial;
2011/06/21
Committee: PECH
Amendment 94 #

2010/2210(INI)

Motion for a resolution
Paragraph 14
14. Believes that a new body should be set up, under the auspices of the UN, to perform independent evaluations of both flag States and RFMO performanceindependent evaluations of both flag States and RFMO performance should be carried out by an organisation integrated into the United Nations system without further delay;
2011/06/21
Committee: PECH
Amendment 97 #

2010/2210(INI)

Motion for a resolution
Paragraph 15
15. Emphasises that the concept of market State responsibility must be more fully developed as a means of closing down the markets for the products of IUU fish; believes that the EU must urgently discuss with other major market States, including but not limited to the US, Japan and China, how to develop international legal instruments that could halt, prosecute and punish trade in IUU fish, possibly underin line with the World Trade Organisation (WTO) rules and within the framework of the United Nations system;
2011/06/21
Committee: PECH
Amendment 116 #

2010/2210(INI)

Motion for a resolution
Paragraph 19
19. Fully endorses the recommendations of the UNODC report, including expanding international cooperation in investigating criminal activities at sea, improving transparency of fishing vessel ownership and activities and discouraging both the sale and the operation of fishing vessels toby companies with untraceable beneficial owners;
2011/06/21
Committee: PECH
Amendment 121 #

2010/2210(INI)

Motion for a resolution
Paragraph 22 a (new)
22a. Points out that the fight against illegal fishing at world level is vital for global sustainable development and must therefore represent an essential and explicit part of fisheries partnership agreements, trade policy commitments, development cooperation policy objectives and the European Union's foreign policy priorities.
2011/06/21
Committee: PECH
Amendment 2 #

2010/2137(INI)

Motion for a resolution
Recital B
B. whereas in times of crisis, well- functioning markets are essentiait is essential to ensure financial stability, re-establish credit flows and reform the financial system in order for markets to function well and competition rules should therefore be applied flexibly but strictly,
2010/10/12
Committee: ECON
Amendment 6 #

2010/2137(INI)

Motion for a resolution
Recital D
D. whereas competition policy is an essential tool in enabling the EU to have a dynamic, efficient and innovative internal market and to be competitive on the global stage,
2010/10/12
Committee: ECON
Amendment 7 #

2010/2137(INI)

Motion for a resolution
Recital E
E. whereas, in the absence of a sustainable EU coordination initiative to back up structural reforms, the growing budget deficits and increased levels of public debt in many Member States may slow down economic recovery and economic growth for years to come,
2010/10/12
Committee: ECON
Amendment 12 #

2010/2137(INI)

Motion for a resolution
Recital G
G. whereas empirical analyses suggest that this State aid has generated a number of effects and distortions, such as a reduction of the spread of private bonds as a result of a disconnection from the financial circumstances of the institutions, which need to be taken into account when considering extendmodifying the aid or prolonging the exceptional rules currently in force,
2010/10/12
Committee: ECON
Amendment 15 #

2010/2137(INI)

Motion for a resolution
Paragraph 3
3. Continues to support a more active role for Parliament in the shaping of competition policy through the introduction of a co-legislative role; asks for Parliament to be informed regularly of any initiatives in this field;
2010/10/12
Committee: ECON
Amendment 17 #

2010/2137(INI)

Motion for a resolution
Paragraph 4 a (new)
4a. Stresses the importance of services of general interest in meeting the basic needs of the public and highlights, in line with Article 16 of the Treaty on the functioning of the European Union and the Protocol on Services of General Interest annexed to the Treaty of Lisbon, that the shared values of the Union with regard to services of general economic interest include a high level of quality, safety and affordability, equal treatment and the promotion of universal access and of user rights; asks the Commission to consider these aspects when concluding its work on applying EU competition rules on services of general economic interest, calls on it to submit its conclusions and initiatives on this issue as soon as possible and to include a specific chapter thereon in its periodical reports on competition;
2010/10/12
Committee: ECON
Amendment 18 #

2010/2137(INI)

Motion for a resolution
Paragraph 5
5. Stresses the need to draft clear and SME-friendly competition rulecompetition rules that are helpful and useful for SMEs;
2010/10/12
Committee: ECON
Amendment 19 #

2010/2137(INI)

Motion for a resolution
Paragraph 6
6. Calls on the Commission to make use of independent, reliable expertise for the evaluations and studies it undertakes or orderrequired for the development of competition policy; urges it to publish their results;
2010/10/12
Committee: ECON
Amendment 20 #

2010/2137(INI)

Motion for a resolution
Paragraph 7
7. Asks the Commission to make use ofensure that Article 12 of the Treaty on the Functioning of the European Union, which stipulates that ‘consumer protection requirements shall be taken into account in defining and implementing other Union policies and activities’, ais a legal basis foimplemented under future internal market legislation;
2010/10/12
Committee: ECON
Amendment 21 #

2010/2137(INI)

Motion for a resolution
Paragraph 7 a (new)
7a. Welcomes with interest the Report on the functioning of Council Regulation 1/2003, submitted by the Commission five years after its entry into force and, while agreeing that it constitutes a keystone in the process of modernising competition rules and coordinating action by the EU and national authorities, notes the need to overcome differences of opinion in establishing priorities, on important aspects of the development of competition policy and on the functioning of cooperation systems so as to implement it more effectively;
2010/10/12
Committee: ECON
Amendment 22 #

2010/2137(INI)

Motion for a resolution
Paragraph 7 b (new)
7b. Recalls its resolution of 25 April 2007 on the Green Paper on damages actions for breach of the EC antitrust rules and stresses that the pending legislative proposal in relation thereto should include the content of Parliament resolution of 26 March 2009 on the White Paper on damages actions for breach of the EC antitrust rules; stresses the need for the Commission to propose legislation, without watering it down unnecessarily, to facilitate individual and class-action claims for effective compensation for damages resulting from breaches of EU antitrust law; such legalisation must be cross-cutting in nature, avoid the excesses of the North American system and be adopted using the ordinary legislative procedure (codecision);
2010/10/12
Committee: ECON
Amendment 32 #

2010/2137(INI)

Motion for a resolution
Paragraph 10
10. Is concerned that these measures, which are temporary in nature, might ultimately not be that temporary; urges the Commission to provide clarity on the phasing out criteria that will be used to decide on their possible extensionStresses that the legal basis provided by Article 107(3)(b) was used for the first time for exceptional aid to the financial sector granted under exceptional circumstances to preserve its stability, maintain equilibrium on the internal market and facilitate its restructuring; in view of the current difficulties, agrees to the Commission’s proposal to extend the crisis footing into 2011, when measures will gradually be lifted and new rules for the rescue and restructuring of financial institutions will be adopted;
2010/10/12
Committee: ECON
Amendment 35 #

2010/2137(INI)

Motion for a resolution
Paragraph 11 a (new)
11a. Stresses the need to restore the competitive position of financial institutions which did not have recourse to the temporary rules on State aid;
2010/10/12
Committee: ECON
Amendment 49 #

2010/2137(INI)

Motion for a resolution
Paragraph 11 a (new)
11a. Stresses also that the temporary Community framework for new aid measures and the adaptation of State aid to help finance the real economy should be extended, with adaptations, until the end of 2011; backs the Commission’s proposal to support the recovery by bringing back the de minimis aid threshold, imposing stricter criteria, particularly for guarantee-backed subsidies and loans, and focusing on SMEs, for which purpose it would be worthwhile, among other things, to include measures to help finance SMEs in the Risk Capital Guidelines;
2010/10/12
Committee: ECON
Amendment 50 #

2010/2137(INI)

Motion for a resolution
Paragraph 11 b (new)
11 b. Calls on the Member States to cooperate actively with the Commission in developing the temporary rules established in response to the financial and economic crisis by providing timely, detailed reports on their implementation and effectiveness; urges the Commission to conduct an assessment of how they work and draw up a study on the impact of measures taken by third countries on the European Union;
2010/10/12
Committee: ECON
Amendment 54 #

2010/2137(INI)

Motion for a resolution
Paragraph 12
12. Notes that State aid policy is an integral part of competition policy and that State aid control reflects the need to ensure that resources are allocated effectively, maintain a level playing field for all undertakings carrying out activities in the single market and defend the interests of European citizens within a context of sustainable development;
2010/10/12
Committee: ECON
Amendment 56 #

2010/2137(INI)

Motion for a resolution
Paragraph 14
14. Considers it essential, when assessing whether State aid is compatible with the Treaty, to find the right balance between the negative effects of State aid on competition and public financesexpenditure and its positive effects in terms of technical and economic progress, by ensuring that consumers receive a fair share of the benefits, as the common interest dictates;
2010/10/12
Committee: ECON
Amendment 57 #

2010/2137(INI)

Motion for a resolution
Paragraph 15
15. Calls for the establishment of clear criteria for divestments, taking into account the medium-term impact of divestments on the firms involved, namely on growth, innovation and employment as well as on the reduction of their role in the global market;
2010/10/12
Committee: ECON
Amendment 58 #

2010/2137(INI)

Motion for a resolution
Paragraph 16
16. Urges the Commission to carefully inspect tax expenditure and fiscal State aid regimes in force in certain Member States to check their non- discriminatory and transparent nature;
2010/10/12
Committee: ECON
Amendment 71 #

2010/2137(INI)

Motion for a resolution
Paragraph 22 a (new)
22a. Stresses, more than five years after the entry into force of Regulation (EC) No 139/2004 on the control of concentrations between undertakings, the importance of identifying areas where red tape can be reduced and where further convergence between the applicable national and EU rules can be achieved;
2010/10/12
Committee: ECON
Amendment 74 #

2010/2137(INI)

Motion for a resolution
Paragraph 24 a(new)
24a. Affirms that transparency is an essential prerequisite for financial markets to work properly, calls on the Commission to go to great lengths to ensure that data on financial markets is disclosed in full compliance with the provisions of EU competition law and, in this regard, welcomes the initiatives to prevent abuse of ISIN and RIC securities identifier codes;
2010/10/12
Committee: ECON
Amendment 75 #

2010/2137(INI)

Motion for a resolution
Paragraph 24 b (new)
24b. Urges the Commission to supervise SEPA (the Single Euro Payments Area) to ensure the payment system is accessible, non-discriminatory, transparent and efficient and in no way hinders competition; calls for the close monitoring of the aspects of the system affecting EU competition policy;
2010/10/12
Committee: ECON
Amendment 76 #

2010/2137(INI)

Motion for a resolution
Paragraph 24 c (new)
24c. Asks the Commission to continue efforts to ensure effective competition on the payment cards markets, in accordance with the principles of SEPA (the Single Euro Payments Area), with a view to facilitating cross-border payments and maximising the potential of the internal market; calls for the systematic monitoring of developments on these markets and for the annual competition reports to include progress indicators in this regard;
2010/10/12
Committee: ECON
Amendment 77 #

2010/2137(INI)

Motion for a resolution
Paragraph 24 d (new)
24d. Stresses that effective competition on the energy markets should lead to greater security of energy supply, less environmental impact, greater innovation and a more affordable energy supply for households and companies in the EU;
2010/10/12
Committee: ECON
Amendment 80 #

2010/2137(INI)

Motion for a resolution
Paragraph 25
25. Regrets that energy consumers in the EU continue to suffer from a distorted energy market; nonetheless, highlights the fact that the Commission has imposed the first fines for breach of competition rules in the energy sector and urges the Commission to remain very vigilant in enforcing competition rules in this sector;
2010/10/12
Committee: ECON
Amendment 84 #

2010/2137(INI)

Motion for a resolution
Paragraph 25 a (new)
25a. Stresses that the sustainability criteria set out in the Renewable Energy Directive are suitable for use when assessing State aids for fuel and bioliquids;
2010/10/12
Committee: ECON
Amendment 85 #

2010/2137(INI)

Motion for a resolution
Paragraph 25 b(new)
25b. Highlights the particular importance of information and communications technology for innovation, maximising the potential of the digital economy and developing the knowledge society; considers it to be of the highest importance to ensure interoperability, facilitate the development of networks and keep markets open in order for economic operators to compete on the merits of their products;
2010/10/12
Committee: ECON
Amendment 86 #

2010/2137(INI)

Motion for a resolution
Paragraph 25 c (new)
25c. Supports the Commission’s measures encouraging the provision of adequate broadband coverage at affordable prices to all European citizens and calls on it to redouble its efforts to keep cross-border roaming charges for electronic communication under control and to include details of progress to that end in its annual competition reports;
2010/10/12
Committee: ECON
Amendment 90 #

2010/2137(INI)

Motion for a resolution
Paragraph 26 a (new)
26a. Recalls that the High Level Group, set up in October 2009 in the wake of the crisis that shook milk producers, has submitted its recommendations, which notably concern contractual relations and the producers’ bargaining power; urges the Commission to act immediately to foster progress in a manner in keeping with the provisions of EU competition law;
2010/10/12
Committee: ECON
Amendment 1 #

2010/2037(INI)

Draft opinion
Recital A
A. whereas the audit profession is concentrated at the large end of the spectrum,high market concentration in the audit profession has led to a situation in which 99 out of the 100 companies listed in the FTSE are audited by one of the "big four"; believes that this situation leads to an excessive concentration of risk and that contingency plans relating to the major auditing firms should be put in place; believes furthermore that smaller firms are diverse and their growth and expertise should be encouraged through increased opportunities to compete and that structured cooperation plans between major and smaller companies should be reinforced,
2011/04/12
Committee: ECON
Amendment 4 #

2010/2037(INI)

Draft opinion
Recital A a (new)
Aa. whereas statutory auditing has a social function and is in the public interest and the last financial crisis has shown major flaws in the conduct of audit, takes the view that a stricter regulation should be put in place to guarantee the independence and quality of auditing,
2011/04/12
Committee: ECON
Amendment 10 #

2010/2037(INI)

Draft opinion
Recital B
B. whereas, following the financial crisis, auditors have been identified as being able to play a key role in strengthening the risk management oversight of Systemically Important Financial Institutions (SIFIs) and relevant Highly Leveraged Institutions,
2011/04/12
Committee: ECON
Amendment 30 #

2010/2037(INI)

Draft opinion
Paragraph 1
1. Calls for the provision of increased opportunities for smaller firms through structured cooperation plans between major and smaller companies and by preventing internal audit services being carried out by the same company as the external audit; notes that areas of audit services which are deemed to incur a conflict of interest should be carried out by different companies, including evaluations of complex structured products;
2011/04/12
Committee: ECON
Amendment 44 #

2010/2037(INI)

Draft opinion
Paragraph 2
2. Believes companies should conduct a compulsory open tendering process for statutory appointments of external auditors at least every eight years, on a renewable basis; notes that for SIFIs and Highly Leveraged Institution this should be reduced to every four years; notes furthermore that the competent authorities in the different reference markets may reduce this period attending to prudential supervision or competition criteria;
2011/04/12
Committee: ECON
Amendment 55 #

2010/2037(INI)

Draft opinion
Paragraph 2 a (new)
2a. Takes the view that, in order to guarantee the independence and avoid conflicts of interest in the audit profession, audit companies should only provide auditing services to the audited company; believes furthermore, that under no circumstances should internal and external auditing services be provided simultaneously;
2011/04/12
Committee: ECON
Amendment 62 #

2010/2037(INI)

Draft opinion
Paragraph 3
3. Calls for enhanced, two-way communication between internal and external auditors, between auditors and shareholders and between auditors and financial supervisors of SIFIs, especially in relation to specific areas of concern, including the interaction between different financial products;
2011/04/12
Committee: ECON
Amendment 76 #

2010/2037(INI)

Draft opinion
Paragraph 4
4. Calls for the auditors of SIFIs and relevant Highly Leveraged Institutions to report periodically, on a collective basis, to the ESRB;
2011/04/12
Committee: ECON
Amendment 83 #

2010/2037(INI)

Draft opinion
Paragraph 5
5. Calls for the role of the audit committees of SIFIs and Highly Leveraged Institutions to be strengthened by requiring them to approve a risk model assessment which includes firm-specific comparisons to benchmarks; demands that this assessment be presented to the boards of SIFIs and Highly Leveraged Institutions, along with the full audit report, annually for consideration and approval.
2011/04/12
Committee: ECON
Amendment 1 #

2010/2021(INI)

Draft opinion
Recital B a (new)
Ba. whereas the Lamfalussy procedure paved the way for a thorough legislative control over regulatory powers conferred to the European Commission in financial services,
2010/03/12
Committee: ECON
Amendment 2 #

2010/2021(INI)

Draft opinion
Recital C
C. whereas the European Supervisory Architecture envisages the use of technical standards to achieve a Single Rule Book viainvolving a prominent role for Delegated Acts,
2010/03/12
Committee: ECON
Amendment 3 #

2010/2021(INI)

Motion for a resolution
Recital E
E. whereas the ‘Lamfalussy procedure’ paved the way for the present mechanism of delegation with full control by the Legislator; whereas Declaration 39 to the Treaty of Lisbon recognised the specific nature of theParliament demands that the Commission consult widely on delegated acts including with Parliament experts, in the area of financial services; whereas Declaration 39 to the Treaty of Lisbon recognised the intention to continue consulting experts appointed by the Member States in the preparation of delegated acts in the area of financial services area; whereas the new regime for delegated acts cannot in any way undermine Parliament’s existing rights in that area, especially concerning the early transmission of documents and information,
2010/03/11
Committee: JURI
Amendment 4 #

2010/2021(INI)

Draft opinion
Paragraph 1 a (new)
1a. Stresses that Article 290 TFEU leaves the legislator free to decide case by case which control mechanisms are necessary and therefore any inter-institutional agreement should not restrict or alter this freedom;
2010/03/12
Committee: ECON
Amendment 4 #

2010/2021(INI)

Motion for a resolution
Recital E a (new)
(Ea) whereas the European Supervisory Architecture envisages the use of technical standards to achieve a Single Rule Book involving a prominent role for delegated acts,
2010/03/11
Committee: JURI
Amendment 5 #

2010/2021(INI)

Draft opinion
Paragraph 1 b (new)
1b. Notes, however, that there is an urgent need for an inter-institutional agreement between the Parliament, the Council and the Commission on the implementation of Article 290 to provide greater clarity and common understanding between the legislators;
2010/03/12
Committee: ECON
Amendment 8 #

2010/2021(INI)

Draft opinion
Paragraph 3 a (new)
3a. Points out that in each basic act sufficient time must be set to enable the European Parliament and Council to exercise their right to objecting to a delegated act; this may well be longer for some subject matters than others, taking into account the complexity and difficulty of the issues and the agenda of co- legislators;
2010/03/12
Committee: ECON
Amendment 9 #

2010/2021(INI)

Draft opinion
Paragraph 3 b (new)
3b. Considers that so-called "early non- objections" have been valuable under the Lamfalussy-procedure and could be kept as the preferred option for Parliament as opposed to any urgency procedure;
2010/03/12
Committee: ECON
Amendment 10 #

2010/2021(INI)

Draft opinion
Paragraph 5 a (new)
5a. Calls on each of its committees to exchange and regularly update best practice to ensure that Parliament’s procedures under Article 290 TFEU are as coherent as possible and for a periodic revision of the Parliament's delegation procedures;
2010/03/12
Committee: ECON
Amendment 10 #

2010/2021(INI)

Motion for a resolution
Paragraph 4 – indent 3
– enable the Commission to exercise the delegated powerdelegated power to be exercised effectively, and
2010/03/11
Committee: JURI
Amendment 11 #

2010/2021(INI)

Draft opinion
Paragraph 5 b (new)
5b. Underlines the need for each parliamentary committee to organise its work in a way that is consistent with its specific nature and takes advantage of its accumulated expertise; recognises the consensus in financial services that, when possible, the rapporteurs for the ordinary legislative act should also lead for the Parliament on the delegated acts to ensure expert subject matter knowledge based on dialogue and information exchange from the beginning of the legislative process;
2010/03/12
Committee: ECON
Amendment 12 #

2010/2021(INI)

Draft opinion
Paragraph 5 c (new)
5c. Notes the importance of implementation of delegated acts and calls on the Commission to produce reports to update Parliament on their progress;
2010/03/12
Committee: ECON
Amendment 17 #

2010/2021(INI)

Motion for a resolution
Paragraph 10 – introductory wording
10. Considers that certain practical arrangements of a horizontal nature shcould not be dealt with separately in each basic act, but could be better dealtbe better coordinated with in a Common Understanding between the institutions covering inter alia:
2010/03/11
Committee: JURI
Amendment 21 #

2010/2021(INI)

Motion for a resolution
Paragraph 10 – new last indent
– progress reports on the implementation of the delegated acts;
2010/03/11
Committee: JURI
Amendment 23 #

2010/2021(INI)

Motion for a resolution
Paragraph 11
11. Stresses that, when preparing and drawing-up delegated acts, the Commission must ensure an early and continuous transmission of information and relevant documents to Parliament's relevant committees, and that Parliament is invited to preparatory meetings held in relation to delegated acts;
2010/03/11
Committee: JURI
Amendment 27 #

2010/2021(INI)

Motion for a resolution
Paragraph 13
13. Proposes that a minimum period for objection be fixed in any future Common Understanding, it being made clear that this should be understood not as a straightjacket but merely as a minimum below which Parliament’s democratic control would become nugatory; considers that the minimum period for objection should be two months, with a possibility of its being extended by a further two months at the initiative of Parliament or the Council; recognises the right for longer minimum periods to be set according to the nature of the delegated act;
2010/03/11
Committee: JURI
Amendment 28 #

2010/2021(INI)

Motion for a resolution
Paragraph 16
16. Calls on each of its committees to establish a mechanismxchange and regularly update best practice to ensure that Parliament’s practices under Article 290 TFEU are as coherent as possible and for a periodic revision of the Parliament's delegation procedures; underlines the need for each parliamentary committee to organise its work in a way that is consistent with its specific nature and takes advantage of its accumulated expertise; recognises the consensus in financial services that when possible the rapporteur in charge of the ordinary legislative act should also lead for the Parliament on the delegated acts to ensure expert subject matter knowledge based on dialogue and information exchange from the beginning of the legislative process;
2010/03/11
Committee: JURI
Amendment 31 #

2010/2021(INI)

Motion for a resolution
Paragraph 17
17. Urges the Commission to present as a matter of priority the legislative proposals needed to adapt the acquis to the provisions of Articles 290 and 291 TFEU; considers, in respect of Article 290 TFEU, that this alignment should not be limited to those measures previously dealt with under the regulatory procedure with scrutiny but should cover all appropriate measures of general scope, including the Lamfalussy directives, independently of the decision- making procedure or comitology procedure applicable to them prior to the entry into force of the Treaty of Lisbon;
2010/03/11
Committee: JURI
Amendment 23 #

2010/2001(BUD)

Draft opinion
Paragraph 6
6. Takes positive note ofDeplores the markedly reduced payment appropriations for international fisheries agreements; regards as positive, in this connection, the announce, given their importance for ensuring catch possibilities, promoting sustainable fishing, and fostering international cooperation and the development byof the Commission that in future, with regard to the use of appropriations, it will make a transparent distinction between payments to obtain fishing rights and payments intended to assist the development of the third country concerned; is of the opinion that, in future, payments to obtain fishing rightsird countries; regards as positive the existence of maximum transparency among the characteristics of both public and private sectors in this area; is of the opinion that the fisheries sector must make an equitable contribution, not necessarily to be identified mechanically with simply paying for catch, since commitment on the sector's part also affects aspects such as recruitment and training of local seamen, contribution to observer programmes, participation in technical controls, involvement in research, on-the- spot unloading and supply, and the promotion of joint economic initiatives for a positive contribution to the development of local communities and the establishment and development of a sustainable fishery in the third- country waters should be borne by the fisheries sectorEEZ, all of which need to be preserved and encouraged;
2010/07/20
Committee: PECH
Amendment 54 #

2010/0281(COD)

Proposal for a regulation
Recital 1
(1) The coordination of the economic policies of the Member States within the Union, as provided for by the Treaty, should be developed in the context of the broad economic and employment guidelines with a view to contributing to the achievement of the objectives of the Union defined in Article 3 of the TUE and the fulfilment of the requirements provided in Article 9 of the TFEU, and should entail compliance with the guiding principles of stable prices, sound and sustainable public finances and monetary conditions and a sustainable balance of payments.
2011/02/16
Committee: ECON
Amendment 66 #

2010/0281(COD)

Proposal for a regulation
Recital 2 a (new)
(2a) The improved economic governance framework should rely on several inter- linked and coherent policies, namely a Union strategy for jobs and smart, sustainable and inclusive growth, a European Semester for strengthened coordination of economic and budgetary policies, an effective framework for preventing and correcting excessive budgetary positions (the Stability and Growth Pact), a robust framework for preventing and correcting macro- economic imbalances, enhanced financial market regulation and supervision (including macro-prudential supervision by the European Systemic Risk Board), a credible permanent financial stability mechanism, a multiannual financial framework and a increased Union budget with new financial and own resources, which should be aimed to improve economic coordination and achieve the objectives of the Union
2011/02/16
Committee: ECON
Amendment 126 #

2010/0281(COD)

Proposal for a regulation
Recital 11
(11) When assessing imbalances, account should be taken of their causes, of their severity, of the degree to which they may be considered unsustainable and of the potential negative economic and financial spillovers to other Member States. The economic adjustment capacity and tstructural or short-term nature of imbalances as well as the national, Union or external character of their causes needs to be understood. Inter-linkages between policy options by different Member States as well as spill-over effects should be adequately taken into account. Where appropriate, sustainable measures adopted by other Member States or by the EU that could contribute to the solution should be identified. The track record of the Member State concerned as regards compliance with earlier recommendations issued under this Regulation and other recommendations issued under Article 121 of the Treaty as part of multilateral surveillance, in particular the broad guidelines for the economic policies of the Member States and of the Union, and the consequences of such recommendations should also be considered.
2011/02/16
Committee: ECON
Amendment 138 #

2010/0281(COD)

Proposal for a regulation
Recital 11 a (new)
(11a) Measures proposed to a given Member State for correcting imbalances should take into account the objectives of a Union strategy for jobs and smart, sustainable and inclusive growth and the need to use such a strategy as an instrument for sustainable internal cohesion, contributing to making the Union the most competitive economy in the world. The medium-term growth and primary balance targets of the "catching- up countries" should be taken into consideration
2011/02/16
Committee: ECON
Amendment 178 #

2010/0281(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point a
(a) 'imbalances means macroeconomic developments which areincluding unsustainable competitiveness trends which persistently reduce internal equilibriums and increase divergences among Member States adversely affecting, or haveing the potential adversely to affectto affect adversely, the proper functioning of the economy of a Member State or, of economic and monetary union, or of the Union as a whole.
2011/02/16
Committee: ECON
Amendment 240 #

2010/0281(COD)

Proposal for a regulation
Article 3 – paragraph 3 a (new) – introductory part (new)
3a. The Commission shall adopt, by means of delegated acts in accordance with Article -12a, and subject to the conditions of Articles -12b and -12c, measures setting the list of relevant indicators to be included in the scoreboard and of the relevant thresholds. The list of indicators shall include, among others the following sets of indicators:
2011/02/16
Committee: ECON
Amendment 241 #

2010/0281(COD)

Proposal for a regulation
Article 3 – paragraph 3 a (new) – point b (new)
(b) internal imbalances, including private and public debt, its evolution, maturity and net position; demographic trends; internal income inequalities; unemployment rates; asset price developments with particular attention to real estate and financial markets; housing ownership rates, pension funds and other long-term assets and liabilities
2011/02/16
Committee: ECON
Amendment 242 #

2010/0281(COD)

Proposal for a regulation
Article 3 – paragraph 3 a (new) – point b (new)
(b) external imbalances, including current and capital account composition, balance and evolution; the evolution of export market shares in Union and third-country markets; net foreign assets and liabilities positions; emissions and energy dependence
2011/02/16
Committee: ECON
Amendment 265 #

2010/0281(COD)

Proposal for a regulation
Article 4 – paragraph 4
4. As part of the multilateral surveillance in accordance with Article 121(3) of the Treaty, the Council shall discuss and adopt conclusions on the Commission report. The competent committee of the European Parliament may organise hearings and public debates on the Commission report. The Euro Group shall discuss the report as far as it relates, directly or indirectly, to Member States whose currency is the euro. Excessive imbalance should also trigger, where appropriate, the involvement of the ESRB or/and the relevant European Supervisory Authority
2011/02/16
Committee: ECON
Amendment 76 #

2010/0280(COD)

Proposal for a regulation
Recital 1
(1) The coordination of the economic policies of the Member States within the Union, as provided by the Treaty, should be developed in the context of the broad economic and employment guidelines with a view to contributing to the achievement of the objectives of the Union defined in Article 3 of the TUE and the fulfilment of the requirements provided in Article 9 of the TFEU, and should entail compliance with the guiding principles of stable prices, sound and sustainable public finances and monetary conditions and a sustainable balance of payments.
2011/02/15
Committee: ECON
Amendment 99 #

2010/0280(COD)

Proposal for a regulation
Recital 5 b (new)
(5b) The improved economic governance framework should rely on several inter- linked and coherent policies, namely a Union strategy for jobs and smart, sustainable and inclusive growth, a European Semester for strengthened coordination of economic and budgetary policies, an effective framework for preventing and correcting excessive budgetary positions (the Stability and Growth Pact), a robust framework for preventing and correcting macro- economic imbalances, enhanced financial market regulation and supervision (including macro-prudential supervision by the European Systemic Risk Board), a credible permanent financial stability mechanism, a multiannual financial framework and a increased Union budget with new financial and own resources, which should be aimed to improve economic coordination and achieve the objectives of the Union
2011/02/15
Committee: ECON
Amendment 106 #

2010/0280(COD)

Proposal for a regulation
Recital 5 c (new)
(5c) The Stability and Growth Pact and the Union's economic governance framework as a whole should complement and be compatible with a Union strategy for jobs and smart, sustainable and inclusive growth which aims at boosting the Union's competitiveness, environmental responsibility and social progress.
2011/02/15
Committee: ECON
Amendment 110 #

2010/0280(COD)

Proposal for a regulation
Recital 5 a (new)
(5a) Experience gained during the first decade of functioning of the economic and monetary union shows a need for improved economic governance in the Union, which should be built on a stronger national ownership of commonly agreed rules and policies and on a more robust framework at the Union level for national economic policies.
2011/02/15
Committee: ECON
Amendment 111 #

2010/0280(COD)

Proposal for a regulation
Recital 5 b (new)
(5b) The European semester for economic and budgetary policies coordination should play a vital role in implementing the requirement under Article 121(1) of the Treaty on the Functioning of the European Union (TFEU) that Member States regard their economic policies as a matter of common concern and coordinate them accordingly. Transparency, independent oversight and multilateral coordinated surveillance are an integral part of enhanced economic governance. The Council and the Commission should make public and set out the reasons for their positions and decisions at appropriate stages of the economic policy coordination procedures
2011/02/15
Committee: ECON
Amendment 114 #

2010/0280(COD)

Proposal for a regulation
Recital 5 d (new)
(5d) Strengthening economic governance should go hand in hand with reinforcing the democratic legitimacy of economic governance in the Union, which should be achieved through a closer and more timely involvement of the European Parliament and the national parliaments throughout the economic policy coordination, with full use of the tools provided for by the TFEU, in particular the broad guidelines for the economic policies of the Member States and of the Union and the guidelines for the employment policies of the Member States.
2011/02/15
Committee: ECON
Amendment 178 #

2010/0280(COD)

Proposal for a regulation
Recital 11 a (new)
(11a) The Council and the Commission should make their positions and decisions public at appropriate stages of the economic policy coordination procedures, while fully respecting Treaty provisions, in order to ensure effective peer pressure. The European Parliament may invite the Council, the Commission and the Member State concerned to explain before its competent committee its decisions and policies; the Council, the Commission and the Member State concerned may equally ask to be invited to the European Parliament for the same purposes.
2011/02/15
Committee: ECON
Amendment 200 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1466/97
Article 2
For the purpose of this Regulation: (a)'participating Member States” shall' means those Member States whose currency is the euro and “that have not opt-out according article 2a and (b) 'Member States with a derogation” shall' means Member States other than those whose currency is the euro.'
2011/02/15
Committee: ECON
Amendment 201 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 1 a (new)
1a. The following article is inserted: "Article 2-a A Member State with a derogation may not apply the rules applicable to participating Member States laid down in this Regulation and, if so, shall notify the Commission accordingly. Such a notification must detail the non applicable rules and shall be published in the Official Journal of the European Union. The Member State concerned shall be considered to be a non participating Member State for the purposes of this Directive from the day after such publication."
2011/02/15
Committee: ECON
Amendment 208 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 1 b (new)
Regulation (EC) No 1466/97
Article 2–aa (new) (in Section 1–A)
1b. The following article is inserted Article 2-aa The multilateral surveillance by the Council shall be conducted as part of a European semester for economic policy coordination (Semester) in line with the provisions of this Regulation and the requirement that Member States regard their economic policies as a matter of common concern and that they coordinate them within the Council in accordance with the objectives set out in Article 3 TUE and Articles 9, 120 and 148 TFEU. The Semester shall, inter alia, consist of the multilateral surveillance of the stability and convergence programmes under this Regulation, the prevention and correction of macroeconomic imbalances under Regulation (EU) No .../2011, the excessive deficit procedure under Regulation (EC) No 1467/97 and the formulation of the broad guidelines of the economic policies of the Member States and of the Union (Broad Economic Policy Guidelines) in accordance with Article 121(2) TFEU and the guidelines that Member States shall take into account in their employment policies (Employment Guidelines) in accordance with Article 148(2) TFEU and the implementation of those guidelines and the annual policy orientations deriving from the Annual economic and social summit within the framework of the Union's strategy for jobs and smart, sustainable and inclusive growth. The European Parliament and the national parliaments shall be duly involved in the Semester in order to increase transparency, ownership, accountability of any decisions taken. In order to ensure an adequate involvement of the European Parliament, an inter- institutional agreement between the European Parliament, the European Council, the Council and the Commission shall be concluded by 31 December 2011.a procedural agreement between the European Parliament, the European Council, the Council and the Commission shall be concluded by 31 December 2011. That procedural agreement shall be reviewed every three years and amended if appropriate.
2011/02/15
Committee: ECON
Amendment 212 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 1 b (new)
Regulation (EC) No 1466/97
Article 2–ac (new) (in Section 1–A)
1b. The following article is inserted: Article 2-ac In order to enhance the dialogue between the Union institutions, in particular the European Parliament, the Council and the Commission, on the one hand, and the national parliaments, national governments and other relevant bodies of the Member States on the other, and to ensure greater transparency and accountability, the competent committee of the European Parliament may organise hearings and public debates on macro- economic and budgetary surveillance undertaken by the Council and the Commission.
2011/02/15
Committee: ECON
Amendment 214 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 1 c (new) – point a (new)
Regulation (EC) No 1466/97
Article 2a – paragraph 1
[Current text of the first paragraph of Article 2a of Regulation (EC) No 1466/971c. Article 2a is amended as follows: (a) the first paragraph is replaced by the following: "Each Member State shall have a differentiated medium-term objective for its budgetary position. These country- Member-State-specific medium-term budgetary objectives may diverge from the requirement of a close to balance or in surplus position. They shall, while provideing a safety margin with respect to the 3% of GDP government deficit ratio;, theyat shall ensure rapid progress towards sustainability and, taking this into account, they shall allow room for budgetary manoeuvre, considering in particular the needs forbe structurally, cyclically and long-term adjusted and net of public investment. The definition of what shall constitute public investment within the scope of this regulation shall be laid down by the Commission through a delegated act, respecting the principles laid down in Council Directive (...) on requirements for budgetary frameworks of the Member States. In the framework of the European Semester, Member States shall communicate their country-specific public investment targets. Expressing the medium-term budgetary objective in this way shall ensure the sustainability of public finances or a rapid progress towards such sustainability while allowing room for budgetary manoeuvre, considering in particular the need to ensure the proper implementation of the Union's strategy for jobs and smart, sustainable and inclusive growth objectives with adequate levels of public investment."]
2011/02/15
Committee: ECON
Amendment 228 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 1 d (new)
Regulation (EC) No 1466/97
Section 1A a (new)
1d. The following section is inserted: "Section 1Aa NATIONAL OWNERSHIP Article 2aa Member States shall establish a medium- term budgetary framework, with a fiscal planning horizon of at least three years, with a view to helping them produce a meaningful medium-term objective. Member States, independent statistics and national fiscal policy rules or institutes shall ensure an informed national debate on current structural budget positions and on the medium-term objective as set out in this Regulation. Each participating Member State shall endeavour to obtain parliamentary approval and to ensure that its stability program is in conformity with the financial implications of its national reform program in line with the investment principles set out in the framework of the Union's strategy for jobs and smart, sustainable and inclusive growth. Where there has been no such parliamentary approval, this shall be specified in the stability programme. Member States shall take into account guidance and recommendations from the Council and the Commission, in particular when preparing their budgets, and appropriately involve national parliaments in the economic policy coordination procedures. When submitting the draft budget to the national parliament, Member States shall also submit any opinion of the Council or the Commission on the stability programme and, in the event of significant deviation from the adjustment path towards the medium term budgetary , the recommendation of the Commission, accompanied by an explanation of how those opinions and recommendations have been taken into account."
2011/02/15
Committee: ECON
Amendment 251 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 2 – subpoint b – subpoint ii
Regulation (EC) No 1466/97
Article 3 – paragraph 2 – point c
(c) a quantitative assessment of the budgetary and other economic policy measures being taken or proposed to achieve the objectives of the programme, comprising a cost-benefit analysis of major structural reforms which have direct long- term cost-saving effects, including by raising potential growthare conductive to the achievement of the Union's jobs and smart, sustainable and inclusive growth objectives;
2011/02/15
Committee: ECON
Amendment 260 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 2 – subpoint c
Regulation (EC) No 1466/97
Article 3 – paragraph 3
3. The information about the paths for the general government balance and debt ratio, the growth of government expenditure, the planned growth path of government revenue at unchanged policy, the planned discretionary revenue measures and its contribution to the implementation of the Union’s jobs and smart, sustainable and inclusive growth objectives, the planned growth path of government revenue at unchanged policy, the planned discretionary revenue measures , government investment expenditure in line with the public investment targets set out in the framework of the European Semester, real gross domestic product (GDP) growth, employment and inflation the paths for growth and indicators of the competitiveness of the economy and the main economic assumptions referred to in paragraph 2(a), (aa) and (b) shall be on an annual basis and shall cover, the preceding year, the current year and at least the following three years.
2011/02/15
Committee: ECON
Amendment 279 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 2
The Council and the Commission, when assessing the adjustment path toward the medium-term budgetary objective, shall examine if the Member State concerned pursues an appropriate annual improvement of its cyclically-adjusted budget balance, net of one-off and other temporary measures, required to meet its medium-term budgetary objective, with 0.5% of GDP as aordinary benchmark. For Member States with a high level of debt or excessive macroeconomic imbalances or both, the Councilthe Council and the Commission shall examine whether the annual improvement of the cyclicallystructurally, cyclically and long term-adjusted budget balance, net of one- off and other temporary measures is higher than 0.5% of GDP. The Councilcover the benchmark. The Council and the Commission shall take into account whether a higher adjustment effort is made in economic good times, whereas the effort may be more limited in economic bad times.
2011/02/15
Committee: ECON
Amendment 297 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 4
Fiscal policy-making shall be considered prudent and thereby conducive to the achievement of the medium-term budgetary objective and its maintenance over time if the following conditions are satisfied: (a) for Member States that have achieved the medium-term budgetary objective, annual expenditure growth does not exceed a prudent medium-term rate of GDP growth, unless the excess is matched by discretionary revenue measures; (b) for Member States that have not yet reached their medium-term budgetary objective, annual expenditure growth does not exceed a rate below a prudent medium-term rate of GDP growth, unless the excess is matched by discretionary revenue measures. The size of the shortfall of the growth rate of government expenditure compared to a prudent medium-term rate of GDP growth is set in such a way as to ensure an appropriate adjustment towards the medium-term budgetary objective; (c) discretionary reductions of government revenue items are matched either by expenditure reductions or by discretionary increases in other government revenue items or both.deleted
2011/02/15
Committee: ECON
Amendment 329 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 6
When defining the adjustment path to the medium-term budgetary objective for Member States that have not yet reached this objective and in allowing a temporary deviation from this objective for Member States that have already reached it, under the condition that an appropriate safety margin with respect to the deficit reference value is preserved and that the budgetary position is expected to return to the medium-term budgetary objective within the programme period, the Council shall take into account the implementation of major structural reforms which have direct long-term cost-saving effects, including by raising potential growth,are conducive to the achievement of the Union’s jobs and smart, sustainable and inclusive growth objectives. Special attention shall be paid to the contribution of those reforms to employment and to the refore a verifiable impact on the long-term sustainability of public financesduction of poverty. Member States implementing such reforms shall be allowed to deviate from the adjustment path to their medium-term budgetary objective or from the objective itself.
2011/02/15
Committee: ECON
Amendment 366 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 5
1. As part of multilateral surveillance in accordance with Article 121(3) of the Treaty, the Council shall monitor the implementation of stability programmes, on the basis of information provided by participating Member StatesMember States whose currency is the euro and of assessments by the Commission and, the Economic and Financial Committee, the Employment Committee and the Social Protection Committee, in particular with a view to identifying actual or expected significant divergences of the budgetary position from the medium-term budgetary objective, or from the appropriate adjustment path towards it ensuing from deviations from prudent fiscal-policy making.
2011/02/15
Committee: ECON
Amendment 421 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 6 – subpoint b – subpoint i a (new)
Regulation (EC) No 1466/97
Article 7 – paragraph 2 – point a a (new)
(ia) In Article 7(2) the following point is inserted: (aa) information on the consistency of the medium-term budgetary objective with the Union’s jobs and smart, sustainable and inclusive growth objectives, the broad guidelines for the economic policies of the Member States of the Union and the guidelines for the employment policies of the Member States.
2011/02/15
Committee: ECON
Amendment 423 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 6 – subpoint b – subpoint ii
Regulation (EC) No 1466/97
Article 7 – paragraph 2 – point c
(c) a quantitative assessment of the budgetary and other economic policy measures being taken or proposed to achieve the objectives of the programme, comprising a cost-benefit analysis of major structural reforms, which have direct long- term cost-saving effects, including by raising potential growth;are conducive to the achievement of the Union’s jobs and smart, sustainable and inclusive growth objectives
2011/02/15
Committee: ECON
Amendment 429 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 6 – subpoint c
3. The information about the paths for the general government balance and debt ratio, the growth of government expenditure and its contribution to the implementation of the Union’s jobs and smart, sustainable and inclusive growth objectives, the planned growth path of government revenue at unchanged policy, the planned discretionary revenue measures, the path for growth and indicators of competitiveness of the economy and the main economic assumptions referred to in paragraph 2(a), (aa) and (b) shall be on an annual basis and shall cover the preceding year, the current year and at least the following three years.'
2011/02/15
Committee: ECON
Amendment 449 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 2
The Council and the Commission, when assessing the adjustment path toward the medium-term budgetary objective, shall take into account whether a higher adjustment effort is made in economic good times, whereas the effort may be more limited in economic bad times. For Member States with a high level of debt or excessive macroeconomic imbalances or both, the Councilthe Council and the Commission shall examine whether the annual improvement of the cyclically-adjusted budget balance, net of one-off and other temporary measures is higher thanat least 0.5% of GDP. For ERM2 Member States, the Council and the Commission shall examine if the Member State concerned pursues an appropriate annual improvement of its cyclicallystructurally, cyclically and long-term adjusted balance, net of one-off and other temporary measures, required to meet its medium- term budgetary objective, with 0.5% of GDP as a benchmark.
2011/02/15
Committee: ECON
Amendment 458 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 3
With a view to ensuring that the medium- term budgetary objective is effectively achieved and maintained, the Council and the Commission shall verify that the growth path of government expenditure, taken in conjunction with the effect of the measures being taken or proposed on the revenue side, is consistent with prudenta sustainable fiscal-policy making. and with the Union’s jobs and smart, sustainable and inclusive growth objectives
2011/02/15
Committee: ECON
Amendment 464 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 4 – introductory part
Fiscal-policy making shall be considered efficient and prudent and thereby conducive to the achievement of the medium-term budgetary objective and its maintenancesustainability over time if the following conditions are satisfied:
2011/02/15
Committee: ECON
Amendment 36 #

2010/0279(COD)

Proposal for a regulation
Recital -1 (new)
(-1) The improved economic governance framework should rely on several inter- linked and coherent policies, namely a Union strategy for jobs and smart, sustainable and inclusive growth, a European Semester for strengthened coordination of economic and budgetary policies, an effective framework for preventing and correcting excessive budgetary positions (the Stability and Growth Pact), a robust framework for preventing and correcting macro- economic imbalances, enhanced financial market regulation and supervision (including macro-prudential supervision by the European Systemic Risk Board), a credible permanent financial stability mechanism, a multiannual financial framework and a increased Union budget with new financial and own resources, which should be aimed to improve economic coordination and achieve the objectives of the Union
2011/02/15
Committee: ECON
Amendment 37 #

2010/0279(COD)

Proposal for a regulation
Recital -1 a (new)
(-1a) Experience gained during the first decade of functioning of the economic and monetary union shows a need for improved economic governance in the Union, which should be built on a stronger national ownership of commonly agreed rules and policies and on a more robust framework at the Union level for national economic policies.
2011/02/15
Committee: ECON
Amendment 39 #

2010/0279(COD)

Proposal for a regulation
Recital -1 c (new)
(-1c) The Stability and Growth Pact and the Union's economic governance framework as a whole should complement and be compatible with a Union strategy for jobs and smart and sustainable growth which aims at boosting the Union's competitiveness, environmental responsibility and social progress.
2011/02/15
Committee: ECON
Amendment 40 #

2010/0279(COD)

Proposal for a regulation
Recital -1 d (new)
(-1d) Strengthening economic governance should go hand in hand with reinforcing the democratic legitimacy of European governance, which should be achieved through the closer and timelier involvement of the European Parliament and national parliaments throughout economic policy coordination .
2011/02/15
Committee: ECON
Amendment 42 #

2010/0279(COD)

Proposal for a regulation
Recital -1 e (new)
(-1e) The European semester for economic and budgetary policies coordination should play a vital role in implementing the requirement under Article 121(1) of the Treaty on the Functioning of the European Union (TFEU) that Member States regard their economic policies as a matter of common concern and coordinate them accordingly. Transparency, independent oversight and multilateral coordinated surveillance are an integral part of enhanced economic governance. The Council and the Commission should make public and set out the reasons for their positions and decisions at appropriate stages of the economic policy coordination procedures.
2011/02/15
Committee: ECON
Amendment 46 #

2010/0279(COD)

Proposal for a regulation
Recital -1 f (new)
(-1f) Without prejudice to their rights and obligations under the TFEU, the Member States whose currency is not the euro should have the right to opt-out from certain provisions of EU legislation in the field of economic governance according to the conditions provided for in each piece of EU legislation.
2011/02/15
Committee: ECON
Amendment 47 #

2010/0279(COD)

Proposal for a regulation
Recital 1
(1) The coordination of the economic policies of the Member States within the Union, as provided for by the Treaty, should be developed in the context of the broad economic and employment guidelines with a view to contributing to the achievement of the objectives of the Union defined in Article 3 of the TUE and the fulfilment of the requirements provided in Article 9 of the TFEU, and should entail compliance with the guiding principles of stable prices, sound and sustainable public finances and monetary conditions and a sustainable balance of payments.
2011/02/15
Committee: ECON
Amendment 199 #

2010/0279(COD)

Proposal for a regulation
Article 3 – paragraph 2
2. The yearly fine to be proposed by the Commission shall be 0.proportionate to the circumstances and must not be higher than 0,1% of the GDP of the Member State concerned in the preceding year.
2011/02/15
Committee: ECON
Amendment 250 #

2010/0279(COD)

Proposal for a regulation
Article 5 a (new)
Dialogue on macro-economic and budgetary surveillance In order to enhance the dialogue between the Union institutions, in particular the European Parliament, the Council and the Commission on the one hand, and the national parliaments, national governments and other relevant bodies of the Member States on the other, and to ensure greater transparency and accountability, the competent committee of the European Parliament may organise hearings and public debates on macro- economic and budgetary surveillance undertaken by the Council and the Commission.
2011/02/15
Committee: ECON
Amendment 67 #

2010/0278(COD)

Proposal for a regulation
Recital 2 a (new)
(2a) The improved economic governance framework should rely on several inter- linked and coherent policies, namely a Union strategy for jobs and smart, sustainable and inclusive growth, a European Semester for strengthened coordination of economic and budgetary policies, an effective framework for preventing and correcting excessive budgetary positions (the Stability and Growth Pact), a robust framework for preventing and correcting macro- economic imbalances, enhanced financial market regulation and supervision (including macro-prudential supervision by the European Systemic Risk Board), a credible permanent financial stability mechanism, a multiannual financial framework and a increased Union budget with new financial and own resources, which should be aimed to improve economic coordination and achieve the objectives of the Union.
2011/02/16
Committee: ECON
Amendment 72 #

2010/0278(COD)

Proposal for a regulation
Recital 2 b (new)
(2b) The Stability and Growth Pact and the Union's economic governance framework as a whole should complement and be compatible with a Union strategy for jobs and smart and sustainable growth which aims at boosting the Union's competitiveness, environmental responsibility and social progress.
2011/02/16
Committee: ECON
Amendment 73 #

2010/0278(COD)

Proposal for a regulation
Recital 2 c (new)
(2c) Experience gained during the first decade of functioning of the economic and monetary union shows a need for improved economic governance in the Union, which should be built on a stronger national ownership of commonly agreed rules and policies and on a more robust framework at the Union level for national economic policies.
2011/02/16
Committee: ECON
Amendment 87 #

2010/0278(COD)

Proposal for a regulation
Recital 2 d (new)
(2d) Strengthening economic governance should go hand in hand with reinforcing the democratic legitimacy of European governance, which should be achieved through the closer and timelier involvement of the European Parliament and national parliaments throughout economic policy coordination.
2011/02/16
Committee: ECON
Amendment 89 #

2010/0278(COD)

Proposal for a regulation
Recital 2 e (new)
(2e) The European semester for economic and budgetary policies coordination should play a vital role in implementing the requirement under Article 121(1) of the Treaty on the Functioning of the European Union (TFEU) that Member States regard their economic policies as a matter of common concern and coordinate them accordingly. Transparency, independent oversight and multilateral coordinated surveillance are an integral part of enhanced economic governance. The Council and the Commission should make public and set out the reasons for their positions and decisions at appropriate stages of the economic policy coordination procedures.
2011/02/16
Committee: ECON
Amendment 91 #

2010/0278(COD)

Proposal for a regulation
Recital 2 f (new)
(2f) Without prejudice to their rights and obligations under the TFEU, the Member States whose currency is not the euro should have the right to opt-out from certain provisions of EU legislation in the field of economic governance according to the conditions provided for in each piece of EU legislation.
2011/02/16
Committee: ECON
Amendment 95 #

2010/0278(COD)

Proposal for a regulation
Recital 2 g (new)
0(2g) The Commission should have a stronger and more independent role in the enhanced surveillance procedure. This concerns Member-State-specific assessments, monitoring, missions, recommendations and warnings. In addition, in the steps leading to sanctions, the reversed qualified majority voting in the Council needs to be used in accordance with the TFEU.
2011/02/16
Committee: ECON
Amendment 111 #

2010/0278(COD)

Proposal for a regulation
Recital 4 a (new)
(4a) A European Monetary Fund, managed under Union rules and financed in part with the revenues of the fines and the interest earned by the Commission on deposits, should be established in compliance with Article 3(1)(c) and Article 122(2) TFEU in order to safeguard financial stability of the euro area as whole and its Member States. That fund should be based on the decisions taken by the Council of 9 to 10 May 2010 and the Statement by the Euro Group of 28 November 2010.
2011/02/16
Committee: ECON
Amendment 116 #

2010/0278(COD)

Proposal for a regulation
Recital 4 b (new)
(4b) Eurobonds in the euro area should be established, in compliance with Article 3(1)c, Article 122(2) and Art. 136.1.a TFEU, based on the Community method, with the aim of reinforcing compliance with the Stability and Growth Pact and strengthening the coordination and surveillance of the budgetary discipline.
2011/02/16
Committee: ECON
Amendment 120 #

2010/0278(COD)

Proposal for a regulation
Recital 4 c (new)
(4c) Increasing liquidity on a new global eurobonds market could reduce the financial costs for Member States and foster the euro as safe haven.
2011/02/16
Committee: ECON
Amendment 122 #

2010/0278(COD)

Proposal for a regulation
Recital 4 d (new)
(4d) The Union priorities for jobs, smart, sustainable and inclusive growth in Member States respecting the Stability and Growth Pact or having taken corrective measures could be fairly financed through eurobonds.
2011/02/16
Committee: ECON
Amendment 136 #

2010/0278(COD)

Proposal for a regulation
Recital 6
(6) PrudentSustainable fiscal policy-making should effectively achieve and maintain the medium-term budgetary objective. Adherence to the medium-term objective for budgetary positions should allow Member States to have a safety margin with respect todeal with normal cyclical fluctuations while keeping the government deficit below the 3 % of GDP reference value for the government deficit, toand ensure rapid progress towards fiscal sustainability, and at the same time to have room for budgetary manoeuvre, in particular taking into account the needs for public investment. Taking this into account, the medium-term budgetary objective should allow room for budgetary manoeuvre, in particular for public investment conducive to the achievement of the Union’s jobs and, smart, sustainable and inclusive growth objectives.
2011/02/16
Committee: ECON
Amendment 151 #

2010/0278(COD)

Proposal for a regulation
Recital 10
(10) The size of the interest-bearing deposit, of the non-interest-bearing deposit and of the fine provided for in this Regulation should be set in such a way as to ensure a fair graduation of sanctions in the preventive and corrective parts of the Stability and Growth Pact while avoiding pro-cyclicality and to provide sufficient incentives for the Member States whose currency is the euro to comply with the fiscal framework of the Union. The fine linked to Article 126(11) of the Treaty as specified in Article 12 of Regulation (EC) No 1467/974 is composed of a fixed component that equals 0.2% of GDP and of a variable component. Thus, graduation and equal treatment between Member States are ensured if the interest-bearing deposit, the non-interest-bearing deposit and the fine specified in this Regulation are equal to 0.2% of GDP, the size of the fixed component of the fine linked to Article 126(11) of the Treaty.
2011/02/16
Committee: ECON
Amendment 189 #

2010/0278(COD)

Proposal for a regulation
Article 1 – paragraph 1
1. This Regulation sets out a system of incentives and sanctions for enhancing the enforcement of the preventive and corrective parts of the Stability and Growth Pact and strengthening the coordination and surveillance of the budgetary discipline in the euro area.
2011/02/16
Committee: ECON
Amendment 196 #

2010/0278(COD)

Proposal for a regulation
Article 1 – paragraph 1 a (new)
1a. In order to enhance the dialogue between the Union institutions, in particular the European Parliament, the Council and the Commission, and the parliaments, governments and other relevant bodies of the Member States, and to ensure greater transparency and accountability, the competent committee of the European Parliament may organise hearings and public debates on macro- economic and budgetary surveillance undertaken by the Council and the Commission.
2011/02/16
Committee: ECON
Amendment 202 #

2010/0278(COD)

Proposal for a regulation
Article 2 a (new)
Article 2a [European Monetary Fund] A European Monetary Fund shall be established with the aim of safeguarding financial stability of the euro area as a whole, and its Member States and to reinforce budgetary discipline and coordination among Member States. The interest earned by the Commission on deposits lodged and fines collected in accordance with [Articles 3, 4 and 5 of this Regulation, Article 12 of Regulation (EC) No 1467/97 and Article 3 of Regulation (EU) No .../2010 on enforcement measures to correct excessive microeconomic imbalances in the euro area] shall be credited to the European Monetary Fund, and shall be: (a) managed under Union rules; and (b) used for the purposes of the current EFSF and ESM and any future structure that will take on their responsibilities. The EMF may have additional financial resources through contributions from Member States in accordance with their compliance with the Stability and Growth Pact.
2011/02/16
Committee: ECON
Amendment 207 #

2010/0278(COD)

Proposal for a regulation
Article 2 b (new)
Article 2b Before three years since the entry into force of the present Regulation, the Commission shall present a proposal establishing a common framework on capital and corporate taxation, including minimum rates, as well as on basic labour and social standards, including equivalent minimum wages and sustainable thresholds for retirement, for Member States of the euro area that may use the incentives described in this Chapter.
2011/02/16
Committee: ECON
Amendment 213 #

2010/0278(COD)

Proposal for a regulation
Article 2 c (new)
Article 2c Eurobonds 1. Eurobonds in the euro area shall be established with the aim of reinforcing discipline and compliance with the Stability and Growth Pact as well as strengthening budgetary and economic coordination. Eurobonds shall be introduced only once the criteria in this Article have been met, including a comprehensive impact assessment. Eurobonds shall be established and shall function in accordance with the relevant provisions of the TFEU. Eurobonds shall not increase the quantity of debt. They shall be issued in exchange, at market price, of existing national bonds or in place of national bonds issuance. 2. The participation for the issuance of eurobonds shall be addressed to incentivize compliance with the Stability and Growth Pact and shall be decided upon by the Council on a recommendation of the Commission. 3. Eurobonds may pool up to 40% of GDP of national debt of each Member State. Common debt shall be senior debt and shall take priority to all other debts issued by the Member States. 4. The issue of eurobonds shall be subject to robust institutional and administrative supervision in accordance with the highest standards and best practices of agencies currently managing sovereign debt in the Member States.
2011/02/16
Committee: ECON
Amendment 219 #

2010/0278(COD)

Proposal for a regulation
Article -3 (new)
Article -3 All Member States must cooperate closely among each other in the fulfilment of the objectives of the Stability and Growth Pact. Spill over effects of and on national policies shall be taken into account when assessing the sanctions described in this Chapter.
2011/02/16
Committee: ECON
Amendment 226 #

2010/0278(COD)

Proposal for a regulation
Article 3 – paragraph 1 a (new)
1a. The Member State concerned may ask the European Parliament to organise hearings or public debates in its competent committee. Such hearings or public debates shall allow the government of the Member State concerned to make its case in the presence of the Commission and the President of the Euro Group. It will take place within the 10-day deadline referred to in paragraph 1. Representatives, at an appropriate level, of the European Central Bank shall be invited.
2011/02/16
Committee: ECON
Amendment 227 #

2010/0278(COD)

Proposal for a regulation
Article 3 – paragraph 2
2. The interest-bearing deposit to be proposed by the Commission shall amount tobe proportionate to the deviation and its evolution taking into account all the appropriate circumstances. It shall amount to no more than 0.2% of the gross domestic product (GDP) of the Member State concerned using the latest available figures collected by Eurostat for in the preceding year.
2011/02/16
Committee: ECON
Amendment 244 #

2010/0278(COD)

Proposal for a regulation
Article 3 – paragraph 5 a (new)
5a. If the Council refuses to consider that the situation has ceased to subsist, the Member State concerned may ask the competent committee in the European Parliament to organise a hearing.
2011/02/16
Committee: ECON
Amendment 245 #

2010/0278(COD)

Proposal for a regulation
Article -4 (new)
Article -4 All Member States must cooperate closely among each other in the fulfilment of the objectives of the Stability and Growth Pact. Spill over effects of and on national policies shall be taken into account when assessing the sanctions described in this Chapter.
2011/02/16
Committee: ECON
Amendment 251 #

2010/0278(COD)

Proposal for a regulation
Article 4 – paragraph 2
2. The non-interest-bearing deposit to be proposed by the Commission shall amount to 0.2% of the GDP of the Member State concernedbe proportionate to the deviation and its evolution taking into account all the appropriate circumstances. It shall amount to no more than 0.2% of the GDP of the Member State concerned using the latest available figures collected by Eurostat for in the preceding year.
2011/02/16
Committee: ECON
Amendment 43 #

2010/0277(NLE)


Recital -1 (new)
-1. Experience gained during the first decade of functioning of the economic and monetary union shows a need for improved economic governance in the Union, which should be built on a stronger national ownership of commonly agreed rules and policies and on a more robust framework at the Union level for national economic policies.
2011/02/16
Committee: ECON
Amendment 47 #

2010/0277(NLE)


Recital 1 a (new)
1a. The Stability and Growth Pact and the Union's economic governance framework as a whole should complement and be compatible with a Union strategy for jobs and smart, sustainable and inclusive growth which aims at boosting the Union's competitiveness, environmental responsibility and social progress.
2011/02/16
Committee: ECON
Amendment 58 #

2010/0277(NLE)


Recital 1 b (new)
1b. The European semester for economic and budgetary policies coordination should play a vital role in implementing the requirement under Article 121(1) of the Treaty on the Functioning of the European Union (TFEU) that Member States regard their economic policies as a matter of common concern and coordinate them accordingly. Transparency, independent oversight and multilateral coordinated surveillance are an integral part of enhanced economic governance. The Council and the Commission should make public and set out the reasons for their positions and decisions at appropriate stages of the economic policy coordination procedures.
2011/02/16
Committee: ECON
Amendment 76 #

2010/0277(NLE)


Recital 9
9. Alternative forecast scenarios and their corresponding impact on budgetary projections supplementing the central macroeconomic scenario allownd allow for analysis of how fiscal variables would evolve under different economic assumptions and thus greatly reduce the risk of budgetary discipline being jeopardised by forecast errors.
2011/02/16
Committee: ECON
Amendment 127 #

2010/0277(NLE)


Article 3 – paragraph 2 – point a
(a) cash-based fiscal data at a monthly frequency, covering government with each sub-sector thereof separately identified, before the end of the following month. Information from state and local government subsectors shall be updated at least on a quarterly basis,
2011/02/16
Committee: ECON
Amendment 133 #

2010/0277(NLE)


Article 4 – paragraph 2
2. Macroeconomic and budgetary forecasts for fFiscal planning shall comprise alternative macroeconomic scenarios to examine the path of fiscal variables under different economic conditions. The range of alternative scenarios used in macroeconomic and budgetary forecastsand their corresponding impact shall be guided by past forecast performance and shall endeavour to take into account the impacts of macroeconomic imbalances, where those have been highlighted.
2011/02/16
Committee: ECON
Amendment 53 #

2010/0276(CNS)

Proposal for a regulation – amending act
Recital 1
(1) The coordination of the economic policies of the Member States within the Union, as provided by the Treaty, should be developed in the context of the broad economic and employment guidelines with a view to contributing to the achievement of the objectives of the Union defined in Article 3 of the TUE and the fulfilment of the requirements provided in Article 9 of the TFEU, and should entail compliance with the guiding principles of stable prices, sound and sustainable public finances and monetary conditions and a sustainable balance of payments.
2011/02/15
Committee: ECON
Amendment 82 #

2010/0276(CNS)

Proposal for a regulation – amending act
Recital 4 a (new)
(4a) The improved economic governance framework should rely on several inter- linked and coherent policies, namely a Union strategy for jobs and smart, sustainable and inclusive growth, a European Semester for strengthened coordination of economic and budgetary policies, an effective framework for preventing and correcting excessive budgetary positions (the Stability and Growth Pact), a robust framework for preventing and correcting macro- economic imbalances, enhanced financial market regulation and supervision (including macro-prudential supervision by the European Systemic Risk Board), a credible permanent financial stability mechanism, a multiannual financial framework and a increased Union budget with new financial and own resources, which should be aimed to improve economic coordination and achieve the objectives of the Union
2011/02/15
Committee: ECON
Amendment 89 #

2010/0276(CNS)

Proposal for a regulation – amending act
Recital 4 b (new)
(4b) The Stability and Growth Pact and the Union's economic governance framework as a whole should complement and be compatible with a Union strategy for jobs and smart, sustainable and inclusive growth which aims at boosting the Union's competitiveness, environmental responsibility and social progress.
2011/02/15
Committee: ECON
Amendment 96 #

2010/0276(CNS)

Proposal for a regulation – amending act
Recital 4 c (new)
(4c) Strengthening economic governance should go hand in hand with reinforcing the democratic legitimacy of European governance, which should be achieved through the closer and timelier involvement of the European Parliament and national parliaments throughout economic policy coordination.
2011/02/15
Committee: ECON
Amendment 97 #

2010/0276(CNS)

Proposal for a regulation – amending act
Recital 4 d (new)
(4d) The European semester for economic and budgetary policies coordination should play a vital role in implementing the requirement under Article 121(1) of the Treaty on the Functioning of the European Union (TFEU) that Member States regard their economic policies as a matter of common concern and coordinate them accordingly. Transparency, independent oversight and multilateral coordinated surveillance are an integral part of enhanced economic governance. The Council and the Commission should make public and set out the reasons for their positions and decisions at appropriate stages of the economic policy coordination procedures.
2011/02/15
Committee: ECON
Amendment 99 #

2010/0276(CNS)

Proposal for a regulation – amending act
Recital 4 e (new)
(4e) Member States should provide for binding fiscal arrangements such as national fiscal rules, respecting the principles laid down in Council Directive (...) on requirements for budgetary frameworks of the Member States, and provide for fully independent public institutions to be involved in the budgetary process and medium-term budgetary framework. National budgetary rules should implement and complement the Member States' commitments under the Stability and Growth Pact. National institutions should play a more prominent role in budgetary surveillance to strengthen national ownership, enhance enforcement through national public opinion and enrich the economic and policy analysis that exists at EU level.
2011/02/15
Committee: ECON
Amendment 102 #

2010/0276(CNS)

Proposal for a regulation – amending act
Recital 4 f (new)
(4f) Without prejudice to their rights and obligations under the TFEU, the Member States whose currency is not the euro should have the right to opt-out from certain provisions of EU legislation in the field of economic governance according to the conditions provided for in each piece of EU legislation.
2011/02/15
Committee: ECON
Amendment 104 #

2010/0276(CNS)

Proposal for a regulation – amending act
Recital 4 g (new)
(4g) Experience gained during the first decade of functioning of the economic and monetary union shows a need for improved economic governance in the Union, which should be built on a stronger national ownership of commonly agreed rules and policies and on a more robust framework at the Union level for national economic policies.
2011/02/15
Committee: ECON
Amendment 122 #

2010/0276(CNS)

Proposal for a regulation – amending act
Recital 6
(6) Implementing the existing excessive deficit procedure on the basis of both the deficit criterion and the debt criterion requires defining a sustainable numerical benchmark (structurally, cyclically and long-term adjusted) against which to assess whether the ratio of government debt to gross domestic product is sufficiently diminishing and approaching the reference value at a satisfactory pace.
2011/02/15
Committee: ECON
Amendment 127 #

2010/0276(CNS)

Proposal for a regulation – amending act
Recital 7
(7) The establishment of the existence of an excessive deficit based on the debt criterion and the steps leading to it should not be based solely on non-compliance with the sustainable numerical benchmark, but alwaysand should take into account the whole range of relevant factors covered by the Commission report under Article 126(3) of the Treaty.
2011/02/15
Committee: ECON
Amendment 136 #

2010/0276(CNS)

Proposal for a regulation – amending act
Recital 8
(8) In the establishment of the existence of an excessive deficit based on the deficit criterion and the steps leading to it there is a need to take into account the whole range of relevant factors covered by the report under Article 126(3) of the Treaty if the government debt to gross domestic product does not exceed the reference valuenature, composition and quality of expenditure, including government investment expenditure, and other relevant factors covered by the report under Article 126(3) TFEU.
2011/02/15
Committee: ECON
Amendment 153 #

2010/0276(CNS)

Proposal for a regulation – amending act
Recital 14
(14) In order to ensure compliance with the fiscal surveillance framework of the Union for participating Member States, rules- based incentives and sanctions should be designed on the basis of Article 136 of the Treaty, ensuring fair, timely and effective mechanisms for compliance with the Stability and Growth pact rules.
2011/02/15
Committee: ECON
Amendment 156 #

2010/0276(CNS)

Proposal for a regulation – amending act
Recital 14 a (new)
(14a) The incentives and sanctions should take due account of the structure of the national deficit and debt, the economic cycle in order to avoid pro-cyclical fiscal policy and the characteristics and evolution of public revenues and expenditures needed for growth- enhancing structural reforms notably in the framework of the Union's jobs and smart, sustainable and inclusive growth objectives.
2011/02/15
Committee: ECON
Amendment 160 #

2010/0276(CNS)

Proposal for a regulation – amending act
Recital 14 b (new)
(14b) The Council and the Commission should make their positions and decisions public at appropriate stages of the economic policy coordination procedures, while fully respecting Treaty provisions, in order to ensure effective peer pressure. The European Parliament may invite the Council, the Commission and the Member State concerned to explain before its competent committee its decisions and policies; the Council, the Commission and the Member State concerned may equally ask to be invited to the European Parliament for the same purposes.
2011/02/15
Committee: ECON
Amendment 166 #

2010/0276(CNS)

Proposal for a regulation – amending act
Article 1 – point 1
Regulation (EC) No 1467/97
Article 1 – paragraph 2
2. For the purpose of this Regulation: – 'participating Member States” shall mean those Member States' means those Member States whose currency is the euro, including Member States whose currency is not the euro but have been admitted to ERM II under the conditions of their accession treaty to the Union, and – 'Member States with a derogation' means Member States other than those whose currency is the euro.
2011/02/15
Committee: ECON
Amendment 168 #

2010/0276(CNS)

Proposal for a regulation – amending act
Article 1 – point 1
Regulation (EC) No 1467/97
Article 1 – paragraph 2 a (new)
2a. A Member State with a derogation may not apply the rules applicable to participating Member States laid down in this Regulation and, if so, shall notify the Commission accordingly. Such a notification shall be published in the Official Journal of the European Union. The Member State concerned shall be considered to be a not participating Member State for the purposes of this Directive from the day after such publication
2011/02/15
Committee: ECON
Amendment 179 #

2010/0276(CNS)

Proposal for a regulation – amending act
Article 1 – point 2 – point b
Regulation (EC) No 1467/97
Article 2 – paragraph 1a
1a. When it exceeds the reference value, the ratio of the government debt to gross domestic product (GDP) is to be considered sufficiently diminishing and approaching the reference value at a satisfactory pace in accordance with Article 126 (2) (b) of the Treaty if the differential with respect to the reference value has reduced over the previous three years at an average rate of the order of one-twentieth per year. , as a benchmark, following an assessment made over a three-year period. A reduction of the differential with respect to the reference value of less that one-twentieth per year over a three year period may, nevertheless, be considered to be satisfactory if this lesser reduction is due to new government debt for public investment. The definition of what shall constitute public investment conductive to achieving the Union's sustainable growth and employment objectives within the scope of this regulation shall be laid down by the Commission through a delegated act, respecting the principles laid down in Council Directive (...) on requirements for budgetary frameworks of the Member States. In order to take due account of the economic cycle, in the case of a sharp decrease of annual GDP volume growth rate followed by growth rates below 1,5%, the Commission may define the conditions for a proportionate, lower and temporary benchmark that is balanced with the efforts made to match the objectives and requirements of the Union; the conditions for a proportionate, higher and temporary benchmark may be defined by the Commission in the case of an average annual GDP volume growth rate above 3% over a period of three years. For a period of 3 years from [date of entering into force of this Regulation - to be inserted], account shall be taken of the backward-looking nature of this indicator in its application.' For a period of 3 years from [date of entering into force of this Regulation - to be inserted], account shall be taken of the backward-looking nature of this indicator in its application.
2011/02/15
Committee: ECON
Amendment 191 #

2010/0276(CNS)

Proposal for a regulation – amending act
Article 1 – point 2 – point c
Regulation (EC) No 1467/97
Article 2 – paragraph 3
3. The Commission, when preparing a report under Article 126(3) of the Treaty shall take into account all relevant factors as indicated in that Article. The report shall appropriately reflect developments in the medium-term economic position (i. In particular, potential growth, prevailing cyclical conditions, inflation, excessive macroeconomic imb (including price evolution of main financial assets), employment and unemployment in accordance with Article 9 of the Treaty, savings and external ancd internal national indebtednes)s and developments in the medium-term budgetary position, (in particular, fiscal consolidation efforts in good times, public investment, the implementation of policies in the context of the common growth strategy for the Union and the overall quality of public finances, in particular, compliance with Council Directive […] on requirements for budgetary frameworks of the Member States). The report shall also analyse developments in the medium-term debt position as relevant (i. In particular, it appropriately shall reflects risk factors including the maturity structure and dynamics of debt, and the currency denomination of the debt, stock-flow operations, accumulated reserves and other government assets; public guarantees, notably linked to the financial sector; liabilities both explicit and implicit related to ageing and private debt to the extent that it may repexplicit, implicit and contingent liabilities notably linked to the financial sector and private debt. The exact nature of the information mentioned above should be in full compliance with in Council Directive (...) on requiresment a contingent implicit liability for the government)s for budgetary frameworks of the Member States. Furthermore, the Commission shall give due consideration to any other factors which, in the opinion of the Member State concerned, are relevant in order to comprehensively assess in qualitative terms the excess over the reference value and which the Member State has put forward to the Commission and to the Council. In that context, special consideration shall be given to strategic public investment made to support structural reforms for the implementation of the Union's growth and employment objectives, and financial contributions to fostering international solidarity and to achieving Union policy goals, including financial stability. and social and regional cohesion.
2011/02/15
Committee: ECON
Amendment 226 #

2010/0276(CNS)

Proposal for a regulation – amending act
Article 1 – point 2 a (new)
Regulation (EC) No 1467/97
Article 2 a (new)
2a. The following article is inserted: Article 2a In order to enhance the dialogue between the institutions of the Union, in particular the European Parliament, the Council, the Commission, and the Member States' parliaments and governments, or any other relevant body, and to ensure greater transparency and accountability, the competent committee of the European Parliament may conduct hearings and public debates on the macro-economic and budgetary surveillance undertaken by the Council and the Commission.
2011/02/15
Committee: ECON
Amendment 235 #

2010/0276(CNS)

Proposal for a regulation – amending act
Article 1 – point 3 – point c
Regulation (EC) No 1467/97
Article 3 – paragraph 4
4. The Council recommendation made in accordance with Article 126(7) of the Treaty shall establish a deadline of six months at most for effective action to be taken by the Member State concerned. The Council recommendation shall also establish a deadline for the correction of the excessive deficit, which should be completed in the year following its identification unless there are special circumstances. In the recommendation, the Council shall request that the Member State achieves annual budgetary targets which, on the basis of the forecast underpinning the recommendation, are consistent with a minimum annual improvement of at least 0,5 % of GDP as a benchmark, in its cyclically adjusted balance net of fiscal one-offs and other temporary measures, in order to ensure the correction of the excessive deficit within the deadline set in the recommendation . (Cross reference to amendment tabled by MEP Sánchez Presedo toThe Council may decide to set a lower or higher temporary benchmark according to the criteria defined Commission under the cases foreseen in the Article 2.1a. Or. en point 2 – subpoint b (Regulation EC 1467/97, Article 1 2– paragraph 1a))
2011/02/15
Committee: ECON
Amendment 244 #

2010/0276(CNS)

Proposal for a regulation – amending act
Article 1 – point 3 – point d a (new)
Regulation (EC) No 1467/97
Article 3 – paragraph 4a a (new)
(da) the following paragraph 4a a is inserted: 4a a. The European Parliament may invite a representative from the Member State concerned to explain its economic and budgetary policy and the action it intends to take to correct the excessive deficit situation before its competent committee. The Member State may also ask to be invited to the European Parliament for the same purposes.
2011/02/15
Committee: ECON
Amendment 265 #

2010/0276(CNS)

Proposal for a regulation – amending act
Article 1 – point 5 – point b a (new)
Regulation (EC) No 1467/97
Article 5 – paragraph 1a a(new)
(ba) the following paragraph 1a a is inserted: "1a a. The European Parliament may invite the Member State concerned to explain its economic and budgetary policy and the action it intends to take to correct the excessive deficit situation before its competent committee. The Member State may also ask to be invited to the European Parliament for the same purposes."
2011/02/15
Committee: ECON
Amendment 286 #

2010/0276(CNS)

Proposal for a regulation – amending act
Article 1 – point 11 a (new)
Regulation (EC) No 1467/97
Article 11 – Paragraph 1a (new)
(11a) the following paragraph has been inserted: "The European Parliament may invite the Member State concerned, within three months of the date of the announcement of the sanctions referred to in paragraph 1, to explain before its competent committee the reasons why, despite the warnings received, it has not corrected the excessive deficit. The Member State may also ask to be invited to the European Parliament for the same purposes."
2011/02/15
Committee: ECON
Amendment 42 #

2010/0257(COD)

Proposal for a regulation
Recital 6
(6) Union funding should be designed to support exploratory work on actions which aim to promote the strategic objectives of the Integrated Maritime Policy, including the integrated maritime governance at all levels, the further development and implementation of integrated sea-basin strategies tailored to the specific needs of Europe's different sea basins, the further development of cross-cutting tools for the formulation of integrated, coherent and coordinated policies, the protection and sustainable use of marine and coastal resources and the definition of the boundaries of sustainability of human activities in the framework of the Marine Strategy Framework Directive, - which constitutes the environmental pillar of the Integrated Maritime Policy, - paying due attention to their cumulative impacts, on the basis of the ecosystem approach, the further involvement of stakeholders in integrated maritime governance schemes, the further development of cross-cutting tools for integrated policy-making, the promotion of the international dimension of the Integrated Maritime Policy, and sustainable economic growth, employment, innovation and competitiveness in the coastal, insular and outermost regions of Europe, particularly those areas heavily dependent on fisheries and related maritime activities.
2011/03/16
Committee: PECH
Amendment 50 #

2010/0257(COD)

Proposal for a regulation
Recital 9
(9) The Programme should complement existing and future financial instruments made available by the Member States, at national and sub-national level, for promoting the protection and sustainable use of the oceans, seas and coasts and encourage the sustainable development and economic growth of the coastal, insular and outermost regions of Europe, particularly those areas heavily dependent on fisheries and related maritime activities.
2011/03/16
Committee: PECH
Amendment 54 #

2010/0257(COD)

Proposal for a regulation
Article 1
This Regulation establishes a Programme to support measures intended to further promoting the development and implementation of the Integrated Maritime Policy (hereinafter referred to as "the Programme"), of which the principal objective is to maximise the sustainable exploitation of seas and oceans and promote sustainable development and economic growth in the coastal, insular and outermost regions of Europe.
2011/03/16
Committee: PECH
Amendment 60 #

2010/0257(COD)

Proposal for a regulation
Article 2 – point c
(c) to support joined up policy-making and to promote the sustainable use of the marine and coastal resources and sustainable economic growth, innovation and employment in maritime sectors and coastal regions, particularly in areas heavily dependent on fisheries and related maritime activities, in coherence with sectoral policy priorities and actions;
2011/03/16
Committee: PECH
Amendment 74 #

2010/0257(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point c
(c) facilitate the exploitation of synergies, sharing of information and exchange of best practices on maritime policy, including its governance and sectoral policies that have an impact on regional seas and coastal regions, and in particular areas heavily dependent on fisheries and related maritime activities or
2011/03/16
Committee: PECH
Amendment 233 #

2010/0250(COD)

Proposal for a regulation
Article 1 – paragraph 2
2. This Regulation shall apply to central counterparties and their participants, financial counterparties and to trade repositories. It shall apply to non- financial counterparties where so provided.
2011/03/30
Committee: ECON
Amendment 331 #

2010/0250(COD)

Proposal for a regulation
Article 4 – paragraph 2 – point a
(a) whether that class of derivatives is eligible for the clearing obligation pursuant to Article 3; and whether other actions are needed to achieve the objectives and principles of this regulation
2011/03/30
Committee: ECON
Amendment 355 #

2010/0250(COD)

Proposal for a regulation
Article 4 – paragraph 3 – subparagraph 1 – point d
(d) ability of the CCP to handle the volume of contractsensure transparency, provide safe and sound operational and technical means in order the handle the volume of contracts and fulfil the obligations resulting of this regulation;
2011/03/30
Committee: ECON
Amendment 358 #

2010/0250(COD)

Proposal for a regulation
Article 4 – paragraph 3 – subparagraph 1 – point d a (new)
(d a) ability of the ccp to provide a robust risk management including policies and procedures
2011/03/30
Committee: ECON
Amendment 359 #

2010/0250(COD)

Proposal for a regulation
Article 4 – paragraph 3 – subparagraph 1 – point d b (new)
(d b) ability of the ccp to meet capital and financial resource requirements as well as margin and collateral requirements
2011/03/30
Committee: ECON
Amendment 375 #

2010/0250(COD)

Proposal for a regulation
Article 4 – paragraph 4 – subparagraph 2
ESMA shall regularly and when necessary review its decisions and shall amend them where necessaraccordingly.
2011/03/30
Committee: ECON
Amendment 403 #

2010/0250(COD)

Proposal for a regulation
Article 5 – paragraph 1
A CCP that has been authorised to clear eligible OTC derivative contracts shall accept clearing such contracts on a transparent, fair and non- discriminatory basis, regardless of the venue of execution.
2011/03/30
Committee: ECON
Amendment 421 #

2010/0250(COD)

Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1
Financial counterparties shall report to a trade repository registered in accordance with Article 51 the details of any OTC derivative contract they have entered into and any modification or termination. The details shall be reported no later than the working day following the execution, clearing, or modification of the contract. They shall also maintain for a period of 5 years a recordkeeping of all the information needed to report.
2011/03/30
Committee: ECON
Amendment 440 #

2010/0250(COD)

Proposal for a regulation
Article 6 – paragraph 2 – subparagraph 2 a (new)
ESA (ESMA) shall ensure that all the competent authorities have direct access to such details of OTC derivative contracts as they require for the performance of their duties
2011/03/30
Committee: ECON
Amendment 2 #

2010/0248(NLE)

The Committee on Fisheries calls on the Committee on International Trade, as the committee responsible, to propose that Parliament refusgive its consent.
2011/09/02
Committee: PECH
Amendment 138 #

2010/0207(COD)

Proposal for a directive
Article 1 – paragraph 1
1. This Directive lays down rules concerning the functioning of Deposit Guarantee Schemesthe European scheme for national Deposit Guarantee Schemes intended to provide depositors in the European Union with a common safety net offering a high level of protection.
2011/04/05
Committee: ECON
Amendment 140 #

2010/0207(COD)

Proposal for a directive
Article 1 – paragraph 2
2. This Directive shall apply to all credit institutions offering deposit services as well as to all Deposit Guarantee Schemes on a statutory or contractual basis and to institutional protection schemes recognizsed as Deposit Guarantee Schemes.
2011/04/05
Committee: ECON
Amendment 144 #

2010/0207(COD)

Proposal for a directive
Article 2 – paragraph 1 – point c a (new)
ca) depositor: the holder or, in the case of a shared or jointly held account, the joint holder of the deposit;
2011/04/05
Committee: ECON
Amendment 158 #

2010/0207(COD)

Proposal for a directive
Article 3 – paragraph 5
5. All Deposit Guarantee Schemes referred to in Article 1 shall be supervised in accordance with the European supervisory system’s existing rules and by the competent authorities on an ongoing basis as to their compliance with this Directive.
2011/04/05
Committee: ECON
Amendment 160 #

2010/0207(COD)

Proposal for a directive
Article 3 – paragraph 6 – subparagraph 1
Member States, coordinated by the European Banking Authority, shall ensure that Deposit Guarantee Schemes perform tests of their systems and that they are informed in the event that the competent authorities detect problems in a credit institution that are likely to give rise to the intervention of Deposit Guarantee Schemes.
2011/04/05
Committee: ECON
Amendment 180 #

2010/0207(COD)

Proposal for a directive
Article 5 – paragraph 4
4. Deposits shall be paid out in the currency of the Member State in which the account was maintained. Where deposits are denominated in a currency other than that of the Member State in which the account is held, the sums to be paid to depositors shall be converted into the currency of said Member State at the rate of exchange prevailing on the eve of the date on which the deposits ceased to be available. If the amounts expressed in euro referred to in paragraph 1 are converted into other currencies, the amounts effectively paid to depositors shall be equivalent to those set out in this Directive.
2011/04/05
Committee: ECON
Amendment 184 #

2010/0207(COD)

Proposal for a directive
Article 5 – paragraph 7 – subparagraph 1
The Commission mayshall adjust at least once each year the amounts referred to in paragraph 1 in accordance with inflation in the European Union on the basis of changes in the harmonised index of consumer prices published by the Commission.
2011/04/05
Committee: ECON
Amendment 185 #

2010/0207(COD)

Proposal for a directive
Article 6 – paragraph 2 – subparagraph 3
Member States may provide that deposits in an account to which two or more persons are entitled as members of a business partnership, association or grouping of a similar nature, without legal personality, may be aggregated and treated as if made by a single depositor for the purpose of calculating the limit provided for in Article 5 (1).deleted
2011/04/05
Committee: ECON
Amendment 195 #

2010/0207(COD)

Proposal for a directive
Article 7 – paragraph 1 – subparagraph 2
Member States may decide that deposits referred to in Article 6(3) and Article 5(2) are subject to a longer repayment period. However, that period shall not exceed 3 months from the date on which the competent authorities make a determination as referred to in Article 2(1)(e)(i) or a judicial authority makes a ruling as referred to in Article 2(1)(e)(ii).
2011/04/05
Committee: ECON
Amendment 204 #

2010/0207(COD)

Proposal for a directive
Article 7 – paragraph 3
3. Any correspondence between the Deposit Guarantee Scheme and the depositor shall be drawn up in the official EU language used by the banking institution holding the guaranteed deposit when writing to the depositor or, failing this, in the official language or languages of the Member State in which the guaranteed deposit is located. If a bank operates directly in another Member State without having established branches, the information shall be provided in the language that was chosen by the depositor when the account was opened.
2011/04/05
Committee: ECON
Amendment 205 #

2010/0207(COD)

Proposal for a directive
Article 7 – paragraph 4
4. Notwithstanding the time limit laid down in paragraph 1, where a depositor or any person entitled to or interested in sums held in an account has been charged with an offence arising out of or in relation to money laundering as defined in Article 1 of Directive 91/308/EEC, the Deposit Guarantee Scheme may suspend any paymenttemporarily any payment in which the depositor is concerned pending the judgment of the court.
2011/04/05
Committee: ECON
Amendment 207 #

2010/0207(COD)

Proposal for a directive
Article 8 – paragraph 1
1. Member States shall ensure that the depositor's rights to compensation may be the subject of an individual or joint action by the depositor against the Deposit Guarantee Scheme.
2011/04/05
Committee: ECON
Amendment 221 #

2010/0207(COD)

Proposal for a directive
Article 9 – paragraph 1 – subparagraph 3
The available financial means shall at least reach the target level. Where the financing capacity falls short of the target level, the payment of contributions shall resume at least until the target level is reached again. WhereThe regular contribution shall not be less than 0.1% of the eligible deposits. Where, after the target level has been reached on the first occasion, the available financial means amount to less than two thirds of the target level because of the use of funds, the regular contribution shall not be less than 0.25% of eligible deposits.
2011/04/05
Committee: ECON
Amendment 227 #

2010/0207(COD)

Proposal for a directive
Article 9 – paragraph 2
2. The cumulated amount ofavailable financial means of a Deposit Guarantee Scheme shall be invested in a low-risk and sufficiently diversified manner and the deposits and investments of a scheme that are related to a single private body shall not in any way exceed 5% of ithe scheme’s available financial means. Companies which are included in the same group for the purposes of consolidated accounts, as defined in Directive 83/349/EEC or in accordance with recognised international accounting rules, shall be regarded as a single body for theis purpose of calculating this limit.
2011/04/05
Committee: ECON
Amendment 234 #

2010/0207(COD)

Proposal for a directive
Article 9 – paragraph 4 – subparagraph 1
The cumulated amount of contributions referred to paragraphs 1 and 2 may not exceed as an average throughout the cycle 1% of eligible deposits per calendar year.
2011/04/05
Committee: ECON
Amendment 238 #

2010/0207(COD)

Proposal for a directive
Article 9 – paragraph 4 – subparagraph 2
The competent authorities may temporarily suspend or entirely or partially exempt a credit institution from the obligation referred to in paragraph 2 if the sum of payments referred to in paragraphs 1 and 2 would jeopardize the settlement of claims of other creditors against it. Such exemption shall not be granted for a longer period than 6 months but may be renewed on request of the credit institution.
2011/04/05
Committee: ECON
Amendment 241 #

2010/0207(COD)

Proposal for a directive
Article 9 – paragraph 5 – subparagraph 1
The financial means referred to in paragraphs 1, 2 and 3 of this Article shall principally be used in order to repay depositors pursuant to this Directive. However, up to two thirds of the available financial means may be used for preventive and support measures as referred to in this Directive. In that case, the Deposit Guarantee Scheme shall submit to the competent authority within one month a report showing that the limit of two thirds of the available financial means has been respected. Said measures shall be implemented in accordance with the rules of competition law and subject to submission by the competent authority of a cost-benefit analysis.
2011/04/05
Committee: ECON
Amendment 260 #

2010/0207(COD)

Proposal for a directive
Article 9 – paragraph 7 – subparagraph 2
Member States shall ensure that the information referred to in the first subparagraph is published on the web-site of the Deposit Guarantee Schemes and the European Banking Authority at least on an annual basis.
2011/04/05
Committee: ECON
Amendment 293 #

2010/0207(COD)

Proposal for a directive
Article 12 – paragraph 2 – subparagraph 1
Depositors at branches set up by credit institutions in other Member States or in Member States where a credit institution authorised in another Member State operates shall be repaid by the scheme of the host Member State on behalf of the scheme in the home Member State. The home scheme shall reimburse the host schemeadvance the necessary funds to enable the host Member State scheme to meet the home Member State scheme’s obligation to pay depositors as laid down in paragraph 1.
2011/04/05
Committee: ECON
Amendment 310 #

2010/0207(COD)

Proposal for a directive
Article 19 – paragraph 4
4. By 31 December 2015 the Commission shall submit a report, and, if appropriate, a legislative proposal to the European Parliament and the Council with the aim to determine whether existing Deposit Guarantee Schemes should be replaced by a single scheme for the whole Union. Likewise, by 2 January 2014 the date on which the review of Regulation (EU) No 1093/2010 of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority) is also due, the Commission shall submit a legislative proposal to the European Parliament and the Council setting out how Deposit Guarantee Schemes operating in the EU may form part of a European Deposit Guarantee Scheme through the creation of a European deposit guarantee fund intended to coordinate their operation, prevent risks arising from cross-border activities and protect deposits from these risks.
2011/04/05
Committee: ECON
Amendment 15 #

2009/2173(INI)

Motion for a resolution
Paragraph 2
2. Reiterates its callsthe need for a more prominent role for Parliament in the development of competition policy, including through the introduction of thea co-decision procedurelegislative role and a requirement that Parliament is regularly informed about any initiative in that field;
2009/12/09
Committee: ECON
Amendment 17 #

2009/2173(INI)

Motion for a resolution
Paragraph 3
3. Calls on the Commission to report to Parliament in detail and annually about the follow-up to Parliament’s recommendations, and explain any diversion from Parliament’s recommendations;
2009/12/09
Committee: ECON
Amendment 19 #

2009/2173(INI)

Motion for a resolution
Paragraph 4
4. Recalls that competition policy and the strict enforcement of the competition rules are essential for a proper functioning and competitive European markets, and forenhancing efficiency, entrepreneurial excellence and the protection of consumers;
2009/12/09
Committee: ECON
Amendment 21 #

2009/2173(INI)

Motion for a resolution
Paragraph 5
5. Reiterates its request for a full report on the role of the Commission Consumer Liaison Officer within the Commission’s annual Report on Competition Policy;
2009/12/09
Committee: ECON
Amendment 23 #

2009/2173(INI)

Motion for a resolution
Paragraph 6
6. Recalls its request to the Commission to undertake an urgent review of staff resources at the Directorate-General for Competition and ensure that the new resources allocated meet the increasing workload;
2009/12/09
Committee: ECON
Amendment 24 #

2009/2173(INI)

Motion for a resolution
Paragraph 6 a (new)
6a. Welcomes the chapter on cartels and consumers as cartels are among the most serious violation of competition law, disrupt the value chain, are detrimental to consumers and have a very negative impact on the economy; encourages the Commission to maintain its strong enforcement to prevent and act against cartels; welcomes instruments such as the settlement package, which allows the Commission to settle cartel cases by means of a simplified procedure where companies, having seen the evidence, choose to acknowledge their involvement in the cartel and the fine imposed on the parties is reduced;
2009/12/09
Committee: ECON
Amendment 29 #

2009/2173(INI)

Motion for a resolution
Paragraph 6 b (new)
6b. Regards positively the publication of the Communication of 9 February 2009 entitled ‘Guidance on the Commission’s enforcement priorities in applying Article 82 of the EC Treaty to abusive exclusionary conduct by dominant undertakings’ (C(2009)0864); believes that the Guidance is a step forward since it means more transparency and predictability regarding a possible intervention by the Commission but that it should never limit or restrict the capacity of the Commission to act in that field under what is now the Treaty on the Functioning of the European Union;
2009/12/09
Committee: ECON
Amendment 30 #

2009/2173(INI)

Motion for a resolution
Paragraph 6 c (new)
6c. Highlights that in 2008, for the first time in the history of EU competition policy, coercive fines have been imposed for failure to comply with a previous Commission decision;
2009/12/09
Committee: ECON
Amendment 31 #

2009/2173(INI)

Motion for a resolution
New Title before paragraph 7
State aidCartels and consumers
2009/12/09
Committee: ECON
Amendment 34 #

2009/2173(INI)

Motion for a resolution
Paragraph 7
7. Calls for an independent report to be drawn up about the potentialcompetition measures to address the moral hazard of statepublic intervention in the financial sector to be taken preserving the stabilisation process; asks the Commission to report on restructuring progress made by the beneficiaries of State aid and to provide more clarity concerning the repayment of State aid and possible sanctions for failure to repay, the repayment of State aid and initiatives for misuse of public money and/or failure to fulfil commitments;
2009/12/09
Committee: ECON
Amendment 37 #

2009/2173(INI)

Motion for a resolution
Paragraph 8
8. Calls on the Commission to investigate further, as a matter of urgency, why State aid granted to banks is not being passed on to the real economy, and to take measures against banks that demonstrably fail or refuseor promote adequate measures to pass on the benefits of State aid;
2009/12/09
Committee: ECON
Amendment 46 #

2009/2173(INI)

Motion for a resolution
Paragraph 10
10. Believes that the system of competition rules have weathered the storm so far, but that the crisis has brought home the urgency for an EU framework for cross- border crisis management in the financial sector, including a solution for the ‘too- big-to-fail’ risk of institutions, a single European regulator and a bail-out fund or equivalent systemcommon system of regulation and supervision and a European bail-out policy;
2009/12/09
Committee: ECON
Amendment 47 #

2009/2173(INI)

Motion for a resolution
Paragraph 11
11. Requests the Commission to report in its annual report on competition policy on the national State aid measures, the differences between the national schemes, and their possible distortive effects on competition and economic divergence that might result therefrom; calls on the Commission to prepare proposals for a more coherent, single European approach;
2009/12/09
Committee: ECON
Amendment 49 #

2009/2173(INI)

Motion for a resolution
Paragraph 12
12. Invites the Commission to explain what criteria will be used to decide on a possible extension of the Temporary Community framework for State aid measures, as the EU is officially out of recession, despite persisting economic difficulties and unemployment; takes the view that the questionnaires to Member States, assessing the Temporary framework, do not alone provide a sufficient basis for such a decision, and calls for additional (independent) studies to be commissioned;
2009/12/09
Committee: ECON
Amendment 55 #

2009/2173(INI)

Motion for a resolution
Paragraph 12a (new)
12a. Welcomes the new guidelines on State aid for environmental protection within the framework of the climate- energy package introducing normalised evaluation for minor issues and detailed evaluation for significant issues;
2009/12/09
Committee: ECON
Amendment 57 #

2009/2173(INI)

Motion for a resolution
Paragraph 13
13. Calls on the Commission to publish, during the course of 2010, a comprehensive reportreport within its annual report on competition policy, on the effectiveness of State aid granted for ‘green recovery’ (bringing about a substantial shift towards sustainability, in particular in the automotive sector) and State aid for environmental protection;
2009/12/09
Committee: ECON
Amendment 59 #

2009/2173(INI)

Motion for a resolution
Paragraph 14
14. Calls for a similar reporting on State aid granted for support to SMEs, training, R&D and innovation;
2009/12/09
Committee: ECON
Amendment 67 #

2009/2173(INI)

Motion for a resolution
Paragraph 15
15. Urges the Commission to inform Parliament about its review of the Commission Decision on State aid for public services, which has been due since 19 December 2008 and which now should take into consideration the entry into force of the Lisbon Treaty;
2009/12/09
Committee: ECON
Amendment 68 #

2009/2173(INI)

Motion for a resolution
Paragraph 16
16. Notes with concern that the recovery of illegal State aid is a lengthythat, of the EUR 10.3 billion illegal and incompatible anid cumbersome process, and that a small number of Member States is responsible for nearly all pending cases; encourages the Commission to tighten up procedures further and to keep up the pressure on Member States, in particular on repeat offenderto be recovered since 2000, some EUR 9.3 billion (90.7 % of the total recoverable amount) had actually been recovered by the end of 2008; encourages the Commission to continue its efforts to improve the enforcement and monitoring of State aid decisions;
2009/12/09
Committee: ECON
Amendment 71 #

2009/2173(INI)

Motion for a resolution
Paragraph 17
17. Welcomes the publication of the Simplification Package and Commission Regulation (EC) No 800/2008 of 6 August 2008 declaring certain categories of aid compatible with the common market in application of Articles 87 and 88 of the Treaty (General block exemption Regulation1);
2009/12/09
Committee: ECON
Amendment 72 #

2009/2173(INI)

Motion for a resolution
Paragraph 17 a (new)
17a. Supports the extension, until 31 December 2011, of the Framework on State aid to Shipbuilding1;
2009/12/09
Committee: ECON
Amendment 73 #

2009/2173(INI)

Motion for a resolution
Paragraph 17 b (new)
17b. Regards positively the approval of 18 risk capital schemes under the Risk Capital Guidelines in the area of risk capital financing for SMEs; underlines that facilitating risk capital financing for SMEs is essential to promote fair competition;
2009/12/09
Committee: ECON
Amendment 74 #

2009/2173(INI)

Motion for a resolution
Paragraph 18
18. Reiterates its position regarding the White Paper on Damages; endorses the principle of enforcement by consumers, whilst avoiding an excessive legal claims culture; welcomes the announcement by the Commission that the legal basis of the forthcoming proposal will ensure that the 1 OJ C 317, of 30.12.2003, p. 11. measure will be adopted bythat any forthcoming proposal on collective redress must respect Parliament’s view expressed in its resolution of 26 March 2009 on damages actions for breach of the EU antitrust rules and insists that Parliament must be involved in the adoption of such act by means of the co-decision procedure;
2009/12/09
Committee: ECON
Amendment 82 #

2009/2173(INI)

Motion for a resolution
Paragraph 19
19. Welcomes the very firm stance the Commission has taken on anti-competitive behaviour in recent years, which causes great harm to consumers and to the economy; is concerned, however, that the instrument of ever higher fines may be too blunt and suggests that a wider range of more sophisticated instruments might be more effective as a deterrent;, favoursing a ‘carrot-and-stick’ approach, with penalties to punish bad behaviour and incentives to reward good behaviour;
2009/12/09
Committee: ECON
Amendment 84 #

2009/2173(INI)

Motion for a resolution
Paragraph 20
20. Calls on the Commission and the Member States to introduce the principle of individuafull liability, and the possibility of criminal sanctions;
2009/12/09
Committee: ECON
Amendment 88 #

2009/2173(INI)

Motion for a resolution
Paragraph 22
22. Points out that some legal experts consider that very high fines are virtually criminal in nature, raising the question whether an administrative procedure is in line with Article 6 of the Convention for the Protection of Human Rights and Fundamental Freedoms, which concerns the right to a fair trial; points out, furthermore, that SMEs are comparatively harder hit by highSMEs are comparatively harder hit by disproportionate fines than larger companies;
2009/12/09
Committee: ECON
Amendment 89 #

2009/2173(INI)

Motion for a resolution
Paragraph 23
23. Feels that fines should be proportionate to the potential or effective damage caused by the breach; also proposes that any, in appropriate circumstances, relevant amounts paid in compensation be taken into account when calculating the fine; asks the Commission to review the basis for calculating fines and, if appropriate, to incorporate the new fining principles in Regulation (EC) No 1/2003;
2009/12/09
Committee: ECON
Amendment 91 #

2009/2173(INI)

Motion for a resolution
Paragraph 24
24. Expects to be duly informed and consulted concerning any amendment of the Motor Vehicle Block Exemption Regulation, within a timeframe which allows Parliament to undertake adequate scrutiny and to make a thorough contribution, taking into account the urgent need to provide the sector with a predictable horizon that allows it to take the appropriate measures;
2009/12/09
Committee: ECON
Amendment 95 #

2009/2173(INI)

Motion for a resolution
Paragraph 26 a (new)
26a. Welcomes the revision of the Commission Notice on remedies acceptable under Council Regulation (EEC) No 139/2004 and under Commission Regulation (EC) No 802/2004, which codifies recent judgments of the Court of Justice, takes into account the conclusions drawn from the Remedies Study, and the addresses the points raised during the public consultation;
2009/12/09
Committee: ECON
Amendment 96 #

2009/2173(INI)

Motion for a resolution
Paragraph 28
28. Emphasises that the current economic crisis does not justify a general relaxation of EC merger control policies;
2009/12/09
Committee: ECON
Amendment 103 #

2009/2173(INI)

Motion for a resolution
Paragraph 30
30. Reiterates in this context, its earlier calls for sector inquiries into online advertising and the food industries; calls for an inquiry into media concentrations, including all channels for distribution of content, such as print, television and radio and the internet; requests that the Commission present an analysis of competition in the telecoms and car sectors;
2009/12/09
Committee: ECON
Amendment 105 #

2009/2173(INI)

Motion for a resolution
Paragraph 30 a (new)
30a. Insists on complete sector inquiries and follow-up measures in close cooperation with the authorities of the ECN into the food industry and, in particular, into the distribution chain for dairy products;
2009/12/09
Committee: ECON
Amendment 9 #

2009/2150(INI)

Draft opinion
Paragraph 1 a (new)
1a. Emphasises that the scale, depth and complexity of the financial crisis is linked to the disconnect between the development of finance and the real economy, the existence of escalating global imbalances and worsening environmental problems on the planet that must be corrected to put the economic system on the path of global sustainable development;
2009/12/14
Committee: ECON
Amendment 10 #

2009/2150(INI)

Draft opinion
Paragraph 1 b (new)
1b. Stresses that the credit crunch, uncertainty caused by the depressionary cycle and the drop in international trade, investment and remittances by migrant workers have been the channels by which the crisis has been transmitted from the developed countries to the developing countries. In all these areas, the Union needs to adopt initiatives and assert its presence on the international stage in a concerted, comprehensive and coherent manner;
2009/12/14
Committee: ECON
Amendment 11 #

2009/2150(INI)

Draft opinion
Paragraph 1 c (new)
1c. Calls for stronger macroeconomic cooperation within the G20, a more powerful role for the United Nations system and the reform of international financial institutions to ensure a concerted response to the crisis and its effects in developing countries;
2009/12/14
Committee: ECON
Amendment 12 #

2009/2150(INI)

Draft opinion
Paragraph 1 d (new)
1d. Points out that in order to achieve greater financial stability and improve the functioning of the global trade system within the WTO, progress needs to be made towards a new international monetary and financial system which is based on multilateral rules that address the specific problems of developing countries and falls within the United Nations framework;
2009/12/14
Committee: ECON
Amendment 13 #

2009/2150(INI)

Draft opinion
Paragraph 2
2. Welcomes the European Council's commitment in October 2009 not to undermine the MDGs in combating climate change; urges the Council to agree as soon as possible and in the framework of the Copenhagen summit conclusions and the G-20 compromises on firm financial commitments that enable developing countries to cope with deteriorating climatic conditions and to ensure that assistance needed due to the economic crisis will not lead to a relapse in external over-indebtedness;
2009/12/14
Committee: ECON
Amendment 19 #

2009/2150(INI)

Draft opinion
Paragraph 3
3. Takes the view that EU development policy should not impose EU interests, such as the opening up of markets for EU export and investment, on developing countries; notes that external factors also contribute to corruption problems in developing countries, in particular in the context of PPP; asks the Commission; asks the Commission, the Council and the European Investment Bank to make the provision of microcredit to SMEs and small-scale farmers a priority of development cooperation, thus fostering sustainable regional economic structures;
2009/12/14
Committee: ECON
Amendment 34 #

2009/2150(INI)

Draft opinion
Paragraph 5
5. Asks the EIB to ensure that its guarantees and investments are not executed through tax heavens; asks the EIB not to rely on IMF conditionality criteria, but insteaimpose unjustified conditions and to take a lead in implementing the ILO concept of 'decent work' in its projects; takes the view that the EIB should focus its recruitment policy in favour of environmental and development expertise;
2009/12/14
Committee: ECON
Amendment 37 #

2009/2150(INI)

Draft opinion
Paragraph 6 a (new)
6a. Calls for the report to be prepared by the International Monetary Fund for the next G20 meeting on the contribution to be made by the financial system towards paying for the burdens associated with the different government interventions to look at all the direct and indirect burdens imposed on public finances and, in particular, their impact on the budgets of developing countries;
2009/12/14
Committee: ECON
Amendment 39 #

2009/2150(INI)

Draft opinion
Paragraph 6 b (new)
6b. Urges the Commission to present a communication on how a tax on international financial transactions can, inter alia, help achieve the Millennium Development Goals, correct global imbalances and promote sustainable development worldwide;
2009/12/14
Committee: ECON
Amendment 20 #

2009/2107(INI)

Motion for a resolution
Recital I
I. whereas the EU is already applying a policy of support for organic agriculture and aquaculture products through the implementation of Regulations Nos 834/2007, 889/2008 and 710/2009, as the key to a European sustainable aquaculture sector, closely connected to optimising its own product to make it more competitive and improve consumer protectioninformation and freedom of choice for consumers,
2010/04/14
Committee: PECH
Amendment 24 #

2009/2107(INI)

Motion for a resolution
Recital K
K. whereas the aquaculture industry must take into account the organic and physiological differences between fish species, having due regard to their feeding cycles and habits and the stress levels caused by farm density or transport, and use promorte humane slaughter techniquesanimal welfare,
2010/04/14
Committee: PECH
Amendment 34 #

2009/2107(INI)

Motion for a resolution
Recital M
M. whereas, at the same time, many EU countries lack specific national or regional development plans that regulate installations in coastal and marine areas and clearly identify the zones and conditions available for aquaculture plants, thereby preventing easily foreseeable conflicts of interest with other economic sectors, such as tourism, agriculture and coastal fishing,
2010/04/14
Committee: PECH
Amendment 36 #

2009/2107(INI)

Motion for a resolution
Recital N
N. whereas a sustainable aquaculture policy can coexist with 'Natura 2000' areas and can even contribute positively to the management thereof and to the welfare of the populations concerned when it deals with traditional shellfishing activities or provides for aquaculture plants of an appropriate size for which there are no alternative locations, that comply with Community rules on environmental impact assessments and are compatible with the provisions on the protection of habitats,
2010/04/14
Committee: PECH
Amendment 51 #

2009/2107(INI)

Motion for a resolution
Paragraph 7
7. Considers that the success of the European sustainable aquaculture sector will be largely dependent on the establishment, nationally and locally, of a more business-friendly environment, and calls on the Member States, therefore, to speed up their work towards this without delay and to promote exchanges of experience and best practices at EU level;
2010/04/14
Committee: PECH
Amendment 59 #

2009/2107(INI)

Motion for a resolution
Paragraph 10
10. Considers it urgent and essential to lay down and strengthen the rigorous, transparent quality and traceability criteria for EU aquaculture products, to improve feedstuffs and general fish health and to introduce and strengthen certification criteria for high-quality aquaculture products and organic aquaculture production;
2010/04/14
Committee: PECH
Amendment 66 #

2009/2107(INI)

Motion for a resolution
Paragraph 12
12. Takes the view that, while anythe proposed EU legislation should address general aspects such as environmental impact assessments, water use and protection and product traceability, a generic or undifferentiated approach must not be adopted in that legislation;
2010/04/14
Committee: PECH
Amendment 70 #

2009/2107(INI)

Motion for a resolution
Paragraph 13 a (new)
13a. Reiterates the need to include traditional shellfishing activities along with the rest of the aquaculture sector in the Common Fisheries Policy to ensure economic, social and environmental sustainability and to guarantee them non- discriminatory access to European funding;
2010/04/14
Committee: PECH
Amendment 79 #

2009/2107(INI)

Motion for a resolution
Paragraph 16
16. Calls on the Commission to set out in that regulation specific criteria and general rules for the various product categories, with which every aquaculture establishment in the Community must comply, but to delegate responsibility for the implementation phase to the competent territorial authorities, in full accordance with the principle of subsidiarity – e.g. parameters on environmental impact, water supply, feeding of farmed fish, molluscs and crustaceans, product traceability and labelling, and fishanimal health and respect for feeding habitwelfare standards, etc.;
2010/04/14
Committee: PECH
Amendment 92 #

2009/2107(INI)

Motion for a resolution
Paragraph 19
19. Hopes that the future European Fisheries Fund in support of the reformed CFP will provide for specific budget lines for sustainable aquaculture development and support for investment in that sector, with a particular focus on technologically innovative plants with a lesser environmental impact (e.g. water purification systems for eliminating residues and pollutants), farms that promote fish healthanimal welfare standards and sustainable forms of aquaculture;
2010/04/14
Committee: PECH
Amendment 107 #

2009/2107(INI)

Motion for a resolution
Paragraph 23
23. Calls on the Commission to provide appropriate incentives for the development of inshore or offshore aquaculture facilities operating in difficult environmental and climate conditions (e.g. in the Atlantic Ocean) by allowing suitable derogations to the rules on state aid;
2010/04/14
Committee: PECH
Amendment 128 #

2009/2107(INI)

Motion for a resolution
Paragraph 30
30. Calls on the Commission to propose specific criteria in relation to the well being of farmed fish, such as maximum levels of farming density, the quantity of vegetable and animal proteins that can be used in feedstuffs on the different types of fish farms, and which take into account the nutritional requirements of the fish species farmed, the phases in their life cycle and the environmental conditions, and to promote transportation and slaughter practices which limit sources of stress, and the changing of water in fish ponds in such a way as to guarantee the well being of the fish being farmed there;
2010/04/14
Committee: PECH
Amendment 138 #

2009/2107(INI)

Motion for a resolution
Paragraph 33
33. Reiterates the importance of conducting systematic checks at ports and key import hubs giving access to the internal market in order to provide consumers with a watertight guarantee that the aquaculture products imported from third countries are systematically subject to stringent quality control and are therefore fully compliant with EU rules in the field of hygiene and public health;
2010/04/14
Committee: PECH
Amendment 140 #

2009/2107(INI)

Motion for a resolution
Paragraph 35
35. Calls on the Commission, lastly, to sponsor, as part of the EU policy on cooperation with developing countries, support and training measures designed to help promote sustainable aquaculture and steer the awareness of aquaculturists in those countries towards a policy on quality and higher production standards, particularly as regards the environment and hygiene;
2010/04/14
Committee: PECH
Amendment 4 #

2009/2106(INI)

Motion for a resolution
Citation 19 a (new)
– having regard to its resolution "2050: The future begins today – recommendations for the EU's future integrated policy on climate change" (2008/2015 (INI),
2009/12/17
Committee: PECH
Amendment 5 #

2009/2106(INI)

Motion for a resolution
Citation 19 b (new)
– having regard to its resolution of 25 November 2009 on the EU strategy for the Copenhagen Conference on Climate Change,
2009/12/17
Committee: PECH
Amendment 18 #

2009/2106(INI)

Motion for a resolution
Recital E
E. whereas the application of the CFP interacts directly with areas as vast as the environment, safety, public health, consumer protection and regional development, internal and international trade, relations with third countries and development cooperation, and whereas it is essential to guarantee proper and careful harmonisation between all these areas,
2009/12/17
Committee: PECH
Amendment 25 #

2009/2106(INI)

Motion for a resolution
Recital F
F. whereas the current geopolitical, economic and social situation and the drawing-up of a strategy and action plan for the preservation and sustainable development of the oceans and seas in Europe and the world (integrated maritime policy – IMP), justify increasedour commitment to establishing an environmentally and socio-economically sustainable CFP in which the decision- making power for Parliament with regard to the CFP is strengthened as provided for in the Lisbon Treaty,
2009/12/17
Committee: PECH
Amendment 28 #

2009/2106(INI)

Motion for a resolution
Recital I
I. whereas, in order to be more inclusive and effective, the CFP should be restructured with a vieworganised to thake a multidisciplinary involvement ofapproach to involving all groups directly or indirectly connected with the sector, in particular fishermen, vessel owners, the scientific community and politicianindustry and other links in the sectoral and commercial chain, the scientific community and institutional stakeholders,
2009/12/17
Committee: PECH
Amendment 39 #

2009/2106(INI)

Motion for a resolution
Recital J
J. whereas, despite the significant progress made following the revision of the CFP in 2002, serious problems relating to fleet overcapacity and the scarcity of some fishery resources still remain and have worsened in recent years,
2009/12/17
Committee: PECH
Amendment 48 #

2009/2106(INI)

Motion for a resolution
Recital K
K. whereas the maintenance of modern, competitive, environmentally-friendly and safe fishing fleets is not incompatible with the reduction in fishing capacity, which has in fact been carried out by various Member States in order to bring it more closely into line with the availability of resources,
2009/12/17
Committee: PECH
Amendment 53 #

2009/2106(INI)

Motion for a resolution
Recital L a (new)
La. whereas the small-scale fishing fleet and areas that are heavily dependent on fishing require different treatment and greater socio-economic support in the new CFP,
2009/12/17
Committee: PECH
Amendment 57 #

2009/2106(INI)

Motion for a resolution
Recital L b (new)
Lb. whereas fisheries and aquaculture products are an important and increasing source for the supply of the high-quality proteins and healthy fats that are essential for the EU's food needs,
2009/12/17
Committee: PECH
Amendment 58 #

2009/2106(INI)

Motion for a resolution
Recital M
M. whereas the Community fisheries fleet and sector isare a source of high-quality food and plays an essential role in respect of employment and, social cohesion and dynamism in the EU's coastal, remote and outermost regions,
2009/12/17
Committee: PECH
Amendment 75 #

2009/2106(INI)

Motion for a resolution
Recital P
P. whereas Regional Fisheries Management Organisations (RFMOs) and fisheries partnership agreements play a vital and increasingly important role in the use and sustainable exploitation of fisheries resources in Community and international waters,
2009/12/17
Committee: PECH
Amendment 83 #

2009/2106(INI)

Motion for a resolution
Recital R
R. whereas the greatest possible focus should be given to the strategic importance of aquaculture and its development around the worldt Community level, both in socio-economic and environmental terms and with regard to food security,
2009/12/17
Committee: PECH
Amendment 86 #

2009/2106(INI)

Motion for a resolution
Recital R a (new)
Ra. whereas shellfishing activities form an integral part of the sector and are of considerable importance in certain coastal areas and, in the case of shellfishing on foot, are generally performed by women; whereas these activities should be brought fully within the scope of the new CFP,
2009/12/17
Committee: PECH
Amendment 101 #

2009/2106(INI)

Motion for a resolution
Paragraph 2
2. Welcomes also the two main principles set out by the Commission with a view to an effective and successful reform of the CFP, namely the need to give more responsibility to the sector, based on the establishment of conditions favourable to good fishing practice and to make fisheries management models more flexible in order to create alternatives tohat improve the traditional single system of TACs and quotas currently in force;
2009/12/17
Committee: PECH
Amendment 115 #

2009/2106(INI)

Motion for a resolution
Paragraph 4
4. Stresses that despite having been extensively reformed in 2002, the CFP, 27 years after its establishment, is faced with serious problems in certain fisheries whose main features are overfishing, overcapacity, overinvestment in some sections of the fleet, energy inefficiency and waste, with additional aspects, such as the economic and social regression, currently affecting the sector, globalisation of the fisheries and aquaculture market and the consequences of climate change;
2009/12/17
Committee: PECH
Amendment 125 #

2009/2106(INI)

Motion for a resolution
Paragraph 5
5. Points out that Parliament has in previous terms drawn attention to the fact that CFP rules were not being sufficiently complied with and has repeatedly called on Member Statesthe competent bodies in the EU to improve controls, harmonise inspection and sanction criteria, ensure transparency of inspection findings and strengthen the Community inspection systems;
2009/12/17
Committee: PECH
Amendment 134 #

2009/2106(INI)

Motion for a resolution
Paragraph 7
7. Points out that RFMOs and fisheries partnership agreements play a vital role in the governance and application of good fishing practice within their respective jurisdareas of competence and fields of applications;
2009/12/17
Committee: PECH
Amendment 140 #

2009/2106(INI)

Motion for a resolution
Paragraph 9
9. Stresses that scientific knowledge of marine ecosystems isand applied research into the needs of the sector are a sine qua non for the establishment of a policy for the conservation and sustainable management of fisheries resources and for its progressive refinement;
2009/12/17
Committee: PECH
Amendment 146 #

2009/2106(INI)

Motion for a resolution
Paragraph 10
10. Stresses that, notwithstanding the degree of complexity of some procedures for modifying fisheries management models and the difficulties, in particular legal problems, which may appear in this process, these andre not insuperable, as shown by the successful application of other management models in other parts of the world, such as fishing- effort-based management and transmissible fishery rights;
2009/12/17
Committee: PECH
Amendment 154 #

2009/2106(INI)

Motion for a resolution
Paragraph 11
11. Stresses that, despite the decommissioning measures taken, some sections of the European fleet, especially the small-scale fleet, have not been sufficiently renewed and there are still vessels which are obsolete or very old and which need to be modernised with a view to ensuring greater on-board safety and a lesser environmental impact without increasing fishing capacity;
2009/12/17
Committee: PECH
Amendment 156 #

2009/2106(INI)

Motion for a resolution
Paragraph 11 a (new)
11a. Stresses the importance of fishermen’s associations, producers’ organisations and other associations in the sector for the smooth operation and development of the sector;
2009/12/17
Committee: PECH
Amendment 158 #

2009/2106(INI)

Motion for a resolution
Paragraph 12
12. Stresses that the success of aquaculture will depend on an enterprise-friendly environment at national and/or local level and that Member States and regional authorities should be given guidelines enabling them to establish a framework suitable for the implementation of the Community approachable to count on a suitable Community framework for the harmonious development of the sector and the realisation of its full wealth and job creation potential;
2009/12/17
Committee: PECH
Amendment 162 #

2009/2106(INI)

Motion for a resolution
Paragraph 13 a (new)
13a. Stresses that the full involvement of women in activities in the sector, on an equal footing with men, is a fundamental objective that should be reflected in all the policies and measures designed and adopted for the sector;
2009/12/17
Committee: PECH
Amendment 164 #

2009/2106(INI)

Motion for a resolution
Paragraph 13 b (new)
13b. Urges the Commission to ensure that most vulnerable groups in the fisheries sector, especially working women, fisherwomen and women shellfish gatherers, are not disadvantaged when access rights to resources are allocated, by encouraging their participation in the RACs;
2009/12/17
Committee: PECH
Amendment 166 #

2009/2106(INI)

Motion for a resolution
Paragraph 14
14. Considers that CFP commitments to reversing the economic and social consequences of reduced fishing possibilities and greater international competition must be compatible with the long-term sustainability of the sector;
2009/12/17
Committee: PECH
Amendment 169 #

2009/2106(INI)

Motion for a resolution
Paragraph 15
15. Maintains that the CFP should adopt an ecosystem approach, which should be taken into account equally in all of the economic activities carried on, where these affect the marine environment. In this respect, calls on the Commission to ensure that the CFP reform includes the measures adopted to combat climate change and sets up adequate funding to implement these measures;
2009/12/17
Committee: PECH
Amendment 180 #

2009/2106(INI)

Motion for a resolution
Paragraph 17 a (new)
17a. Urges the Commission to assess the effects that the implementation of the measures adopted to combat climate may have on fisheries and the marine environment;
2009/12/17
Committee: PECH
Amendment 186 #

2009/2106(INI)

Motion for a resolution
Paragraph 18
18. Urges the Commission to conduct a detailed and exhaustive survey on the size, characteristics, and spread of the current Community fleet, since this is essential in order towhich establishes a regime wherebyclear definition of the small-scale fleet would be treated differently from the large-scale fleet, each category being defined according to sound criteriain order to guarantee its special treatment and different arrangements for the small- scale and industrial fleets based on their respective problems;
2009/12/17
Committee: PECH
Amendment 197 #

2009/2106(INI)

Motion for a resolution
Paragraph 19
19. Points to the need for greater investment in applied research and scientific knowledge in the fisheries field, and for the fisheries sector to be dovetailinvolved more effectively into the subject areas covered by the framework programmes to promote research;
2009/12/17
Committee: PECH
Amendment 230 #

2009/2106(INI)

Motion for a resolution
Paragraph 23
23. Urges the Commission to draw up a specific Community support programme for small-scale coastal and non-industrial fisherpresent to the Council and the European Parliament a specific Community support programme for coastal and non-industrial fisheries and shellfishing, activities that are generally conducted by small and medium-sized operating units and in which women play a significant role, which involves providing more support in areas that are heavily dependent on such activities;
2009/12/17
Committee: PECH
Amendment 240 #

2009/2106(INI)

Motion for a resolution
Paragraph 25
25. Believes that all fishing and shellfishing operators, whether men andor women alike, need to be guaranteed easier access to European Union financial instruments and accorded the same status in all Member States, especially as regards access to social security, and that a strategy must be put in place to provide financial support to ; urges that a financial support strategy must be put in place for fishing and shellfishing professionals who, because fishing capacity has to be adjusted according to the availability of fish stocks, might or to fish stock recovery plans, might see a fall in actvity or lose their job;
2009/12/17
Committee: PECH
Amendment 243 #

2009/2106(INI)

Motion for a resolution
Paragraph 25 a (new)
25a. Calls on the Member States, within the framework of their respective workers' rights, to reach collective agreements that should be accepted by European fleets in order to improve their working conditions and safety;
2009/12/17
Committee: PECH
Amendment 249 #

2009/2106(INI)

Motion for a resolution
Paragraph 26
26. Considers it necessary to ensure higher first-sale prices ofhat producers are more closely involved in the marketing chain for fishery products and to reduce the number of middlemen in the chain stretching from producers to consumers and, to an increasing extent, securfacilitate the involvement of producers’ organisations in the management of stocks and the marketing of fishery products, the aim being to make the catching sub-sector as profitable as possible;
2009/12/17
Committee: PECH
Amendment 256 #

2009/2106(INI)

Motion for a resolution
Paragraph 27
27. Calls on the Commission to step up information to consumers on the origin and quality of fishery products, draw up a specific eco-labelling programme with a view to enhancing the image of fishery products and promoting consumer health, and to base it on strict monitoring and complete traceability of fisheries, as regards both catches in the wild andfrom obtaining the raw material to marketing the end product, as regards sales of both fresh catches and processed products from fishing activity or aquaculture products;
2009/12/17
Committee: PECH
Amendment 259 #

2009/2106(INI)

Motion for a resolution
Paragraph 28
28. Reiterates the need to provide for strictensure strict compliance with monitoring and certification of fisherymeasures for fishery and aquaculture products entering the Community market, including imports, in order to ascertain that they come from sustainable fisheries and, if so, are properly processed; ensuring their traceability, as far as imported products are concerned, and that they satisfy the requirements imposed on Community products, the aim being to create a level playing field on the Community market;
2009/12/17
Committee: PECH
Amendment 269 #

2009/2106(INI)

Motion for a resolution
Paragraph 29
29. Considers it essential to establish a political framework allowing decisions concerning the sector to be taken on a medium- and long-term basis, applying different operating plans consistent with the specific nature of fisheries and the distinctive features of individual European fleets and industries;
2009/12/17
Committee: PECH
Amendment 274 #

2009/2106(INI)

Motion for a resolution
Paragraph 30
30. Considers that management plans should be regularly monitored and assessed, without detracting from the minimum flexibility required to enable them to be adapted swift more regularly, employing a flexible approach to adapt them quickly and appropriately to the new circumstances that may affecting the broader contextm;
2009/12/17
Committee: PECH
Amendment 282 #

2009/2106(INI)

Motion for a resolution
Paragraph 31
31. Maintains that the management system for the fisheries sector has to abandon the traditional top-down approach, laying, whilst preserving its Community nature, has to emphasise instead on the principle of regionalisation and subsidiarity (horizontal decentralisation) without leading to regional discrimination or upsetting the common implementation of fisheries policy and the participation of professionals in the sector, taking into account the multifarious specific features of the Community fleet and fisheries; firmly rejects any attempt to adopt a universalsingle Community fisheries management model, in a form serving to impose uniformity;
2009/12/17
Committee: PECH
Amendment 302 #

2009/2106(INI)

Motion for a resolution
Paragraph 32
32. Urges the Commission to carefully explore the possibility of adopting new more advanced fisheries management mechanisms, as opposed to the TAC and quota system, for example fishing effort management and the use of transferable fishing rights, since such arrangements would facilitate the introduction of the no-discards policy and enable the fleet to be adapted in a more flexible way, in line with the actual diversity and distribution of stocks, and could be supported by structural implementing measures, without neglecting the more vulnerable small-scale sector;
2009/12/17
Committee: PECH
Amendment 306 #

2009/2106(INI)

Motion for a resolution
Paragraph 32 a (new)
32a. Considers that a management system based on fishing effort could help develop an effective no-discards policy and simplify the current administrative and control procedures, which are excessively time-consuming and expensive for both the sector and the Member States' administrations;
2009/12/17
Committee: PECH
Amendment 320 #

2009/2106(INI)

Motion for a resolution
Paragraph 33
33. Maintains that Regional Advisory Councils (RACs) and the assessments made by the Community Fisheries Control Agency should participatelay a more actively role in the CFP reform process and be placed in a position, logistically and financially, to exercise their updated responsibilities effectively and to the full;
2009/12/17
Committee: PECH
Amendment 331 #

2009/2106(INI)

Motion for a resolution
Paragraph 34
34. Maintains that regional umbrella organisations, staffed by representatives of the Member States, the sector, other stakeholders, and the scientific community, should be set up to exercise management decision-makingguidance power and that the RACs, playing their advisory role, should be merged with them; believes that these bodies, working in conjunction, would make for genuine and effective decentralisation of management, in keeping with the Treaty and without undermining the general aims and principles laid down by the Community legislature;
2009/12/17
Committee: PECH
Amendment 340 #

2009/2106(INI)

Motion for a resolution
Paragraph 35
35. Calls for a more comprehensive policy to make Member States take greater responsibility, whereby theyMember States that had not fulfilled their control and conservation commitments would not be eligible for structural funding and other forms of Community support if, and only if, they had fulfilled their control and conservation commitmentspursuant to Article 95 of the new Control Regulation;
2009/12/17
Committee: PECH
Amendment 354 #

2009/2106(INI)

Motion for a resolution
Paragraph 35 a (new)
35a. Urges that the future financial accompanying measures be adapted to the objectives and commitments of the reform of the Common Fisheries Policy;
2009/12/17
Committee: PECH
Amendment 359 #

2009/2106(INI)

Motion for a resolution
Paragraph 36
36. Is convinced that a strong, revitalisedhigh quality aquaculture sector that is attuned to its environment and the activities conducted within this environment would boost growth in related sectors and help to promote development in coastal and rural areas, with considerable benefits for consumers as well, in the form of ecologically produced nourishing, high- quality food products;
2009/12/17
Committee: PECH
Amendment 363 #

2009/2106(INI)

Motion for a resolution
Paragraph 37
37. Considers that the competitiveness of Community aquaculture should be strengthened by providing ongoing substantial support for research and technological development, planning coastal areas and river basins, so as to facilitate access to the required space, and encompassing the specific needs of aquaculture within EU market policy;
2009/12/17
Committee: PECH
Amendment 368 #

2009/2106(INI)

Motion for a resolution
Paragraph 38
38. Considers that the sustainable development of aquaculture requires environment-friendly installations and production methods, stringent health and animal welfare standards, and a high level of consumer protection;
2009/12/17
Committee: PECH
Amendment 379 #

2009/2106(INI)

Motion for a resolution
Paragraph 40
40. Calls on the Commission to encouragpresent proposals to the Council and the European Parliament that promote the search for new aquaculture species offering high quality and added value, and to promote research and a Community- wide exchange of good practice regarding such species and the related production and marketing methods with a view to meeting environmental concerns and securing a better competitive position in relation to other novel foods;
2009/12/17
Committee: PECH
Amendment 401 #

2009/2106(INI)

Motion for a resolution
Paragraph 43
43. Maintains that new fisheries agreements with third countries should be encouraged in order to afford the Community fleet easier access to new fishing grounds, strengthening the capacity of our partners to guarantee sustainable fishing in their own waters and thus contributing to improving governance in the field of fisheries outside the EU;
2009/12/17
Committee: PECH
Amendment 372 #

2009/0161(COD)

Proposal for a directive – amending act
Recital 11
(11) The Regulations establishing the ESFS provide for a mechanism to settle disagreements between competent national authorities. Where a competent authority disagrees onwith the procedure or content of an action or inaction by another competent authority in areas specified in Union legislation in accordance with Regulation .../...[EBA], Regulation .../...[ESMA] and Regulation .../...[EIOPA], where the relevant legislation requires cooperation, coordination or joint decision making by competent national authorities from more than one Member State, the European Supervisory Authorities, at the request of one of the competent authorities concerned, may assist the authorities in reaching an agreement within the time limit set by the European Supervisory Authority which takes into account any relevant time limits in the relevant legislation, and the urgency and complexity of the disagreement. In the event that such disagreement persists, the European Supervisory Authorities may settle the matter.
2010/03/19
Committee: ECON
Amendment 378 #

2009/0161(COD)

Proposal for a directive – amending act
Article 2 – point 1 c (new)
Directive 2002/87/EC
Article -10
(1c) The following article is inserted in Section 3 before Article 10: "Article -10 1. Financial conglomerates shall be subject to supplementary and European supervision by the Joint Committee of the European Supervisory Authorities and the national competent authorities. 2. The Joint Committee of the European Supervisory Authorities shall exercise the European supervision of financial conglomerates, in order to ensure coherent cross-sectoral and cross-border compliance in accordance with European Union legislation. The Joint Committee of the European Supervisory Authorities shall act through a coordinator appointed by the national competent authorities for the supplementary supervision, who shall also act on behalf of the Joint Committee of the European Supervisory Authorities. 3. The coordinators of EU financial conglomerates shall be subject to general and cross-border coordination by the Joint Committee of the European Supervisory Authorities."
2010/03/19
Committee: ECON
Amendment 380 #

2009/0161(COD)

Proposal for a directive – amending act
Article 2 – point 5 b (new)
Directive 2002/87/EC
Article 21 b (new)
(5b) The following Article is inserted after Article 21a: "Article 21b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
2010/03/19
Committee: ECON
Amendment 387 #

2009/0161(COD)

Proposal for a directive – amending act
Article 3 – point 3 f (new)
Directive 2003/6/EC
Article 17 b (new)
(3f) The following Article is inserted after Article 17a: "Article 17b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. On the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
2010/03/19
Committee: ECON
Amendment 403 #

2009/0161(COD)

Proposal for a directive – amending act
Article 5 – point 8 i (new)
Directive 2003/71/EC
Article 24 b (new)
(8i) The following Article is inserted after Article 24a: "Article 24b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
2010/03/19
Committee: ECON
Amendment 404 #

2009/0161(COD)

Proposal for a directive – amending act
Article 6 – point -1 (new)
Directive 2004/39/EC
Article 2 – paragraph 3
(-1) Article 2(3) is replaced by the following: "3. In order to take account of developments on financial markets and to ensure consistent harmonisation and uniform application of this Directive, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, in respect of exemptions (c) (i), and (k) define the criteria for determining when an activity is to be considered as ancillary to the main business on a group level as well as for determining when an activity is provided in an incidental manner. [...] Draft delegated acts shall be drawn up by the European Securities and Markets Authority."
2010/03/19
Committee: ECON
Amendment 407 #

2009/0161(COD)

Proposal for a directive – amending act
Article 6 – point 2
Directive 2004/39/EC
Article 7 – paragraph 4 –subparagraph 1
4. In order to ensure consistent harmonisation and uniform application of this Article and of Articles 7, 9(2)-(4), 5(4), Article 9(2) to (4), Article 10(1)- and (2), and Article 12, the European Securities and Markets Authority mayshall develop draft technical standards to determ: (a) specify the requirements regardineg the conditions of application of the requirements and procedures for such authorisation as laid down in this Article and inhead office under Article 5(4); (b) determine the information to be provided to the competent authorities under Article 7(2); (c) determine the information and develop standard forms, templates and procedures for the notification provided for in Article 9(2); (d) specify the requirements under Articles 7, 9(2)-(4), to (4) and Article 10(1)- and (2); and (e) specify the initial capital requirement under Article 12.
2010/03/19
Committee: ECON
Amendment 410 #

2009/0161(COD)

Proposal for a directive – amending act
Article 6 – point 3
Directive 2004/39/EC
Article 10a – paragraph 8 – subparagraph 1
8. In order to ensure consistent harmonisation and uniform application of this Article, the European Securities and Markets Authority shall develop draft technical standards to determine the conditions of application relating to the list of information required for the assessment of an acquisition as referred to in paragraph 1, the criteria for opposing acquisitions as referred to in paragraph 4 and the modalities of the consultation process between the relevant competent authorities as referred to in Article 10 (4). The Authority shall submit those draft technical standards to the Commission by 1 January 2014.
2010/03/19
Committee: ECON
Amendment 412 #

2009/0161(COD)

Proposal for a directive – amending act
Article 6 – point 3 c (new)
Directive 2004/39/EC
Article 19 – paragraph 10 – subparagraph 1 – introductory part
(3c) In Article 19(10), the introductory wording of the first subparagraph is replaced by the following: "10. In order to ensure the necessary protection of investors and consistent harmonisation and the uniform application of paragraphs 1 to 8, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, ensure that investment firms comply with the principles set out therein when providing investment or ancillary services to their clients. Those delegated acts shall take into account:"
2010/03/19
Committee: ECON
Amendment 417 #

2009/0161(COD)

Proposal for a directive – amending act
Article 6 – point 3 h (new)
Directive 2004/39/EC
Article 23 – paragraph 3 – subparagraph 5
(3h) Article 23(3), the fifth subparagraph is replaced by the following: "The register shall be updated on a regular basis. It shall be published on the internet and available for consultation. The European Securities and Markets Authority shall establish a list of all appointed tied agents of the investment firms throughout the Union. The European Securities and Markets Authority shall publish that list on its website and shall keep it up to date."
2010/03/19
Committee: ECON
Amendment 426 #

2009/0161(COD)

Proposal for a directive – amending act
Article 6 – point 7 a (new)
Directive 2004/39/EC
Article 51 – paragraph 2 a (new)
(7a) In Article 51, the following paragraph is inserted after paragraph 2: "2a. Member States shall inform the European Securities and Markets Authority of the administrative measures or sanctions determined in accordance with paragraphs 1 and 2."
2010/03/19
Committee: ECON
Amendment 427 #

2009/0161(COD)

Proposal for a directive – amending act
Article 6 – point 8 d (new)
Directive 2004/39/EC
Article 56 – paragraph 5
(8d) Article 56(5) is replaced by the following: "5. In order to ensure consistent harmonisation and the uniform application of paragraphs 1 and 2, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, define the modalities for the cooperation of the competent authorities and establish the criteria under which the operations of a regulated market in a host Member State could be considered as of substantial importance for the functioning of the securities markets and the protection of the investors in that host Member State [...]."
2010/03/19
Committee: ECON
Amendment 430 #

2009/0161(COD)

Proposal for a directive – amending act
Article 6 – point 14 c (new)
Directive 2004/39/EC
Article 64 b (new)
(14c) The following Article is inserted after Article 64a: "Article 64b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
2010/03/19
Committee: ECON
Amendment 433 #

2009/0161(COD)

Proposal for a directive – amending act
Article 7 – point 3 h (new)
Directive 2004/109/EC
Article 27 b (new)
(3h) The following Article is inserted after Article 27a: "Article 27b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
2010/03/19
Committee: ECON
Amendment 434 #

2009/0161(COD)

Proposal for a directive – amending act
Article 8 – point -1 b (new)
Directive 2005/60/EC
Article 16 – paragraph 2
(-1b) Article 16(2) is replaced by the following: "2. Member States shall inform each other, the ESAs and the Commission of cases where they consider that a third country meets the conditions laid down in paragraph 1(b). The ESAs shall publish the list of equivalent countries on their websites."
2010/03/19
Committee: ECON
Amendment 435 #

2009/0161(COD)

Proposal for a directive – amending act
Article 8 – point 2 a (new)
Directive 2005/60/EC
Article 41 – paragraph 2 – subparagraph 1
(2a) In Article 41(2), the first subparagraph is replaced by the following: "2. Where reference is made to this paragraph, Articles 5 and 7 of Decision 1999/468/EC shall apply, having regard to the provisions of Article 8 thereof and provided that the [...] measures adopted in accordance with this procedure do not modify the essential provisions of this Directive."
2010/03/19
Committee: ECON
Amendment 436 #

2009/0161(COD)

Proposal for a directive – amending act
Article 8 – point 2 m (new)
Directive 2005/60/EC
Article 41 b (new)
(2m) The following Article is inserted after Article 41a: "Article 41b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
2010/03/19
Committee: ECON
Amendment 437 #

2009/0161(COD)

Proposal for a directive – amending act
Article 9 – point 2 a (new)
Directive 2006/48/EC
Article 17 – point e a (new)
(2a) In Article 17(1), the following point is added: "(ea) has caused a serious and systematic infringement of Union or national law with regard to the EBA and the competent authorities."
2010/03/19
Committee: ECON
Amendment 438 #

2009/0161(COD)

Proposal for a directive – amending act
Article 9 – point 5
Directive 2006/48/EC
Article 28 – paragraph 4 – first subparagraph
4. In order to ensure uniform application of this Article and establish aconsistent harmonisation and uniform notifapplication procedure by electronic means,of this Article the European Banking Authority shall develop draft technical standards to determine the conditions of application of the information referred to inestablish a uniform notification procedure and specify the information to be notified according to this Article and the process for transmitting this information by secure electronic means. The Authority shall submit those draft technical standards to the Commission by 1 January 2014.
2010/03/19
Committee: ECON
Amendment 439 #

2009/0161(COD)

Proposal for a directive – amending act
Article 9 – point 8
Directive 2006/48/EC
Article 42a – paragraph 1 – fourth subparagraph
If, at the end of the two month period, a following receipt of a request under the first subparagraph any of the competent authorityies concerned has referred the matter to the European Banking Authority in accordance with Article 11 of Regulation …/… [EBA], the consolidating supervisormpetent authorities of the host member State shall await anythe decision that the European Banking Authority may take in accordance with Article 11(3) of that Regulation, and shall act in conformity with that decision to settle the matter in order to ensure compliance with Union law, and shall take their final decision in conformity with the Authority's decision. The Authority's decision shall not replace the prudential judgement of the competent authorities of the Member State. The two month period shall be deemed the conciliation period within the meaning of that Regulation. The European Banking Authority shall take its decision within one month. The matter shall not be referred to the Authority after the end of theat two month period or after a joint decision has been reached.
2010/03/19
Committee: ECON
Amendment 441 #

2009/0161(COD)

Proposal for a directive – amending act
Article 9 – point 11
Directive 2006/48/EC
Article 46 – paragraph 1
Member States and the European Banking Authority, in accordance with Article 18 of Regulation .../...[EBA], may conclude cooperation agreements, providing for exchanges of information, with the competent authorities of third countries or with authorities or bodies of third countries as defined in Articles 47 and 48(1) only if the information disclosed is subject to guarantees of professional secrecy at least equivalent to those referred to in Article 44(1).
2010/03/19
Committee: ECON
Amendment 442 #

2009/0161(COD)

Proposal for a directive – amending act
Article 9 – point 11 a (new)
Directive 2006/48/EC
Article 46 – paragraph 2
(11a) The second paragraph of Article 46 is replace by the following: "Information exchanged under the first subparagraph shall not be disclosed without the express agreement of the competent authorities which have transmitted it and solely for the purposes for which those authorities gave their agreement."
2010/03/19
Committee: ECON
Amendment 459 #

2009/0161(COD)

Proposal for a directive – amending act
Article 9 – point 23 – subparagraph 2
Directive 2006/48/EC
Article 129 – paragraph 2 – subparagraph 5
If, at the end of the six month period, any of the competent authorityies concerned has referred the matter to the European Banking Authority in accordance with Article 11 of Regulation …/… [EBA], the consolidating supervisor shall defer its decision and await any decision that the European Banking Authority may take in accordance with Article 11(3) of that regulation, and shall act in conformity with that decision to settle the matter in order to ensure compliance with Union law, and shall take its final decision in conformity with the Authority's decision. The Authority's decision according to the precautionary principle shall not replace the consolidating supervisor's additional prudential judgement. The six month period shall be deemed the conciliation period within the meaning of the Regulation. The European Banking Authority shall take its decision within one month. The matter shall not be referred to the Authority after the end of the six month period or after a joint decision has been reached.
2010/03/19
Committee: ECON
Amendment 462 #

2009/0161(COD)

Proposal for a directive – amending act
Article 9 – point 24 – point b
Directive 2006/48/EC
Article 129 – paragraph 3 – subparagraph 4
In the absence of such a joint decision between the competent authorities within four months, a decision on the application of Articles 123 and 124 and Article 136(2) shall be taken on a consolidated basis by the consolidating supervisor after duly considering the risk assessment of subsidiaries performed by relevant competent authorities. If, at the end of the four month period, any of the competent authorityies concerned has referred the matter to the European Banking Authority in accordance with Article 11 of Regulation …/… [EBA], the consolidating supervisor shall defer its decision and await any decision that the European Banking Authority may take in accordance with Article 11(3) of that Regulation, and shall act in conformity with that decision to settle the matter in order to ensure compliance with Union law, and shall take its final decision in conformity with the Authority's decision. The Authority's decision according to the precautionary principle shall not replace the consolidating supervisor's additional prudential judgement. The four month period shall be deemed the conciliation period within the meaning of the Regulation. The European Banking Authority shall take its decision within one month. The matter shall not be referred to the Authority after the end of the four month period or after a joint decision has been reached.
2010/03/19
Committee: ECON
Amendment 465 #

2009/0161(COD)

Proposal for a directive – amending act
Article 9 – point 24 – point c
Directive 2006/48/EC
Article 129 – paragraph 3 – subparagraph 5
The decision on the application of Articles 123 and 124 and Article 136(2) shall be taken by the respective competent authorities responsible for supervision of subsidiaries of an EU parent credit institution or an EU parent financial holding company on an individual or sub- consolidated basis after duly considering the views and reservations expressed by the consolidating supervisor. If, at the end of the four month period, the consolidating supervisorany of the competent authorities concerned has referred the matter to the European Banking Authority in accordance with Article 11 of Regulation …/… [EBA], the competent authorities shall defer its decision and await any decision that the European Banking Authority shall take in accordance with Article 11(3) of that Regulation, and shall act in conformity with that decision to settle the matter in order to ensure compliance with Union law, and shall take its final decision in conformity with the Authority's decision. The Authority's decision according to the precautionary principle shall not replace the consolidating supervisor's additional prudential judgement. The four month period shall be deemed the conciliation period within the meaning of that Regulation. The European Banking Authority shall take its decision within one month. The matter shall not be referred to the Authority after the end of the four month period or after a joint decision has been reached.
2010/03/19
Committee: ECON
Amendment 470 #

2009/0161(COD)

Proposal for a directive – amending act
Article 9 – point 30 j (new)
Directive 2006/48/EC
Article 151 b (new)
(30j) The following article shall be inserted after Article 151a: "Article 151b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
2010/03/19
Committee: ECON
Amendment 471 #

2009/0161(COD)

Proposal for a directive – amending act
Article 10 – point 1 c (new)
Directive 2006/49/EC
Article 32 – paragraph 1
(1c) Article 32(1) is replaced by the following: "1. Following guidelines prepared by the EBA, the competent authorities shall establish procedures to prevent institutions from deliberately avoiding the additional capital requirements that they would otherwise incur, on exposures exceeding the limit laid down in Article 111(1) of Directive 2006/48/EC once those exposures have been maintained for more than 10 days, by means of temporarily transferring the exposures in question to another company, whether within the same group or not, and/or by undertaking artificial transactions to close out the exposure during the10-day period and create a new exposure. The competent authorities shall notify the EBA, the Council and the Commission of those procedures. Institutions shall maintain systems which ensure that any transfer which has the effect referred to in the first subparagraph is immediately reported to the competent authorities."
2010/03/19
Committee: ECON
Amendment 472 #

2009/0161(COD)

Proposal for a directive – amending act
Article 10 – point 1 e (new)
Directive 2006/49/EC
Article 38 – paragraph 1
(1e) Article 38(1) is replaced by the following: "1. The competent authorities of the Member States and the EBA shall cooperate closely in the performance of the duties provided for in this Directive, particularly where investment services are provided on the basis of the freedom to provide services or through the establishment of branches. The competent authorities shall on request supply one another and the EBA with all information likely to facilitate the supervision of the capital adequacy of institutions, in particular the verification of their compliance with the rules laid down in this Directive."
2010/03/19
Committee: ECON
Amendment 473 #

2009/0161(COD)

Proposal for a directive – amending act
Article 10 – point 1 n (new)
Directive 2006/49/EC
Article 42 b (new)
(1n) The following article is inserted after Article 42a: "Article 42b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
2010/03/19
Committee: ECON
Amendment 474 #

2009/0161(COD)

Proposal for a directive – amending act
Article 11 – point 2
Directive 2009/65/EC
Article 7 – paragraph 6 - first subparagraph
6. In order to ensure consistent harmonisation and uniform application of this Article, the European Securities and Markets Authority mayshall develop draft technical standards to further: (a) determine the conditions of application of the requirements for the authorisation of the management company, with the exception of the conditions established in paragraph 1(b) of this Articleinformation to be provided to the competent authority in the application for the authorisation of the management company; (b) develop the information and standard forms, templates and procedures for the notification of the programme of activity foreseen in this Article; and (c) assess the reputation and experience of persons conducting the business of the management company.
2010/03/19
Committee: ECON
Amendment 484 #

2009/0161(COD)

Proposal for a directive – amending act
Article 11 – point 20 e (new)
Directive 2009/65/EC
Article 112 b (new)
(20e) The following article is inserted after Article 112a: "Article 112b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
2010/03/19
Committee: ECON
Amendment 146 #

2009/0144(COD)

Proposal for a regulation
Title
Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL establishing a European Supervisory Authority on Securities and Markets Authority
2010/03/24
Committee: ECON
Amendment 159 #

2009/0144(COD)

Proposal for a regulation
Recital 21 a (new)
(21a) Furthermore, the Declaration on strengthening the financial system adopted on the summit of G-20 Leaders held in London on 2 April 2009 called for "[setting] guidelines for, and support the establishment, functioning of, and participation in, supervisory colleges, including through ongoing identification of the most systemically important cross- border firms".
2010/03/24
Committee: ECON
Amendment 180 #

2009/0144(COD)

Proposal for a regulation
Article 1 – paragraph 1
1. This Regulation establishes a European Supervisory Authority on Securities and Markets Authority ("the Authority").
2010/03/24
Committee: ECON
Amendment 184 #

2009/0144(COD)

Proposal for a regulation
Article 1 – paragraph 2
2. The Authority shall act within the scope of this Regulation and Directive 97/9/EC, Directive 98/26/EC, Directive 2001/34/EC, Directive 2002/47/EC, Directive 2002/87/EC, Directive 2003/6/EC, Directive 2003/71/EC, Directive 2004/25/EC, Directive 2004/39/EC, Directive 2004/109/EC, Directive 2005/60/EC, Directive 2009/65/EC, Directive 2002/65/EC, Directive 2006/49/EC (without prejudice to the competence of the European Banking Authority in terms of prudential supervision), Directive … [future AIFM Directive], and Regulation … [future CRA Regulation], including all directives, regulations, and decisions based on these acts, and of any further CommunityUnion act which confers tasks on the Authority.
2010/03/24
Committee: ECON
Amendment 187 #

2009/0144(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be toAuthority shall promote financial sustainability and a strong European financial market with the objective of contributeing to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting protect investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the CommunityUnion law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/24
Committee: ECON
Amendment 188 #

2009/0144(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning and competitiveness of the internal market, on the basis of financial inclusion and a level playing field, preventing and correcting systemic and cross-border risk, and including in particular a high, effective and, consistent and European level of regulation and supervision, (ii) protecting protect investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the CommunityUnion law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/24
Committee: ECON
Amendment 192 #

2009/0144(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting protect investors and other stakeholders as well as public finances, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the CommunityUnion law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/24
Committee: ECON
Amendment 194 #

2009/0144(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting protect investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets and its sustainable interaction with real economy, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the CommunityUnion law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/24
Committee: ECON
Amendment 195 #

2009/0144(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting protect investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding thereducing the procyclicality of finance and, in general, safeguarding the short, medium and long term stability of the financial system, and (v) strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the CommunityUnion law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/24
Committee: ECON
Amendment 196 #

2009/0144(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting protect investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordinationfostering a smooth implementation of monetary policy in the markets and ensuring the traceability of credit as well as the control on banking deposits and institutional funds. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the CommunityUnion law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/24
Committee: ECON
Amendment 202 #

2009/0144(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting protect investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination, (vi) achieving the goals of the EMU and. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the CommunityUnion law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/24
Committee: ECON
Amendment 208 #

2009/0144(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting protect investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination and (vi) strengthening international supervisory coordination and cooperation, enhancing global competitiveness and supporting the financial development of the less advanced economies. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the CommunityUnion law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/24
Committee: ECON
Amendment 210 #

2009/0144(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting protect investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective harmonisation and application of the CommunityEuropean Union law referred to in Article 1(2) above, fostering supervisory integration and convergence and providing opinions to the European Parliament, the Council, and the Commission and undertaking an economic analysis of markets to promote the achievement of the Authority's objectives.
2010/03/24
Committee: ECON
Amendment 212 #

2009/0144(COD)

Proposal for a regulation
Article 1 – paragraph 5
5. The Authority shall form part of a European System of Financial Supervisors, hereinafter referred to as 'ESFS', which shall function as a network of supervisors, as further specified in Article 39.deleted
2010/03/24
Committee: ECON
Amendment 213 #

2009/0144(COD)

Proposal for a regulation
Article 1 – paragraph 6
6. The European Securities and Markets Authority shall co-operate with the European Systemic Risk Board, hereinafter referred to as 'ESRB' as laid down in Article 21 of this Regulation.deleted
2010/03/24
Committee: ECON
Amendment 215 #

2009/0144(COD)

Proposal for a regulation
Article 1 a (new)
Article 1a The European System of Financial Supervision 1. The Authority shall form part of a European System of Financial Supervision, hereinafter referred to as 'ESFS', which shall function as an integrated network of supervisors that brings together all the authorities in the Member States and in the European Union with competences in the field of financial supervision as referred in the present and related EU regulations. The main objective of which is to ensure a strong and consistent European supervision for financial institutions which will bring confidence into the financial system, support sustainable European growth and serve the needs of business and citizens. 2. The ESFS shall comprise the following: (a) the European Systemic Risk Board, established by Regulation (EU) No .../... [ESRB]; (b) the European Supervisory Authority (Banking) established by Regulation (EU) No .../... [EBA]; (c) the European Supervisory Authority (Insurance and Occupational Pensions) established by Regulation (EU) No …/…[EIOPA]; (d) the Authority; (e) the Joint Committee of European Supervisory Authorities (JCESA) provided for in Article 40; (f) the authorities in the Member States referred to in Article 1(2) of Regulations (EU) No .../... [ESMA], Regulation (EU) No …/... [EIOPA] and Regulation (EU) No …/… [EBA]; (g) the Commission, for the purposes of carrying out the tasks referred to in Articles 7 and 9. 3. All the parties of the ESFS Supervision shall cooperate closely among them with trust and full mutual respect, pursuant to the principle of sincere cooperation in accordance with Article 4(3) of the EU Treaty. 4. All financial institutions are bound by legally binding acts under Union law and subject to the supervision of the competent authorities part of the ESFS. 5. The ESFS does not prevent competent authorities from the exercise of national supervisory powers in conformity with European legally binding acts and according to the international prudential principles on banking supervision. 6. Only those supervisory authorities included in the European System of Financial Supervisor shall be entitled to supervise financial institutions in the European Union.
2010/03/24
Committee: ECON
Amendment 217 #

2009/0144(COD)

Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point 2 a (new)
(2a) Systemic risk is a risk of disruption to financial services that is caused by an important impairment of all or parts of the financial system and has the potential to have serious negative consequences for the real economy. All types of financial institutions and intermediaries, markets, infrastructures and instruments can potentially be systemically important to some degree.
2010/03/24
Committee: ECON
Amendment 218 #

2009/0144(COD)

Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point 2 b (new)
(2b) Cross border risk is a risk caused by economic imbalances or financial failures in all or parts of the European Union that have the potential to have significant negative consequences for the transactions between economic operators of two or more Member States, for the functioning of the internal market, or for the public finances of the EU or any of its Member States. All types of economic and financial risks can potentially be cross border relevant to some degree.
2010/03/24
Committee: ECON
Amendment 220 #

2009/0144(COD)

Proposal for a regulation
Article 3 – paragraph 3 a (new)
3a. National supervisory authorities shall act, as members of the Authority, with European dimension.
2010/03/24
Committee: ECON
Amendment 223 #

2009/0144(COD)

Proposal for a regulation
Article 6 – paragraph 1
1. TIn order to ensure a effective and consistent European supervision of financial institutions the Authority shall have the following tasks:
2010/03/24
Committee: ECON
Amendment 225 #

2009/0144(COD)

Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1 – point a
(a) contribute to the establishment of high quality common regulatory and supervisory standards and practices, in particular by providing opinions to the CommunityEuropean Union institutions and by developing guidelines, recommendations, and draft technical standards which shall be based on the present Regulation and the legislation referred to in Article 1(2);
2010/03/24
Committee: ECON
Amendment 226 #

2009/0144(COD)

Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1 – point b
(b) contribute to a consistent application of Communitystandards and EU legislation, in particular by contributing to a common supervisory culture, ensuring consistent, efficient and effective application of the present Regulation and the legislation referred to in Article 1(2), preventing regulatory arbitrage, mediating and settling disagreements between competent authorities, promotensuring a coherent functioning of colleges of supervisors and taking actions, inter alia, in emergency situations;
2010/03/24
Committee: ECON
Amendment 237 #

2009/0144(COD)

Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1 – point g a (new)
(ga) take over, as appropriate, all existing tasks from the Committee of European Securities Regulators;
2010/03/24
Committee: ECON
Amendment 238 #

2009/0144(COD)

Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1 – point g b (new)
(gb) publish and regularly update information relating to its field of activities on its website, in order to ensure easily accessible information to the public;
2010/03/24
Committee: ECON
Amendment 242 #

2009/0144(COD)

Proposal for a regulation
Article 6 – paragraph 2 – subparagraph 1 – point f a (new)
(fa) promote a coordinated action between competent authorities, as specified in the Article 16, including the activation of their powers as members of the Authority to achieve a common EU response to deal with systemic and cross border risks;
2010/03/24
Committee: ECON
Amendment 255 #

2009/0144(COD)

Proposal for a regulation
Article 6 – paragraph 3 – subparagraph 2
For that purpose, the Authority shall have appropriate European powers of investigation and enforcement as specified in the relevant legislation, as well as the possibility of charging fees.
2010/03/24
Committee: ECON
Amendment 257 #

2009/0144(COD)

Proposal for a regulation
Article 6 a (new)
Article 6a Powers of the authorities in the Member States insofar competent authorities and members of the Authority In order to achieve the objectives of the Authority, authorities in the Member States insofar competent authorities and members of the Authority, shall have powers to adopt preventing and correcting supervisory measures. These powers, related to financial institutions and exercised in a proportionate way, include the capacity to: a) Demand and receive adequate information; b) impose reporting and disclosure requirements; c) carry out on site inspections. d) adopt prudential measures (including those affecting conflicts of interest, good governance, liquidity, provisions, dividends and remuneration policies); e) split or segregate retail banking activities from trading and other non utility activities in case of relevant risk assessed following common criteria; f) restrict or forbid temporarily certain products or types of transactions that may cause directly or indirectly excessive volatility in the markets or perturb all of part of the European financial system, public finances or real economy; g) order financial institutions to operate through a subsidiary in case of relevant internal risk assessed according to common criteria; h) impose dissuasive fines; i) disqualify managers and Directors; j) remove executives or the Board of Directors; k) intervene temporally in financial institutions; l) withdraw the benefits of limited liability to significant shareholders of financial institutions when they are passive in defending the corporate interest in cases such as lack of transparency, fearlessly lending or borrowing, or serious and systematic infringement; m) extend financial liability to managers, Directors or financial institutions that cause or collaborate in serious and systematic infringement or have an inappropriate system of incentives to their services; n) custody when appropriate declarations of managers and Directors on interest, activities and assets. o) request the development of a detailed resolution regime, to be updates regularly, comprising a structured early intervention mechanism, prompt corrective actions and a bankruptcy contingency plan; p) cancel licenses and withdraw passports; q) agree on protocols to achieve a common response at European level, as fast and automatically as possible, to prevent or correct market perturbations.
2010/03/24
Committee: ECON
Amendment 258 #

2009/0144(COD)

Proposal for a regulation
Article 7 – title
Technical standardshe Single Rule Book
2010/03/24
Committee: ECON
Amendment 259 #

2009/0144(COD)

Proposal for a regulation
Article 7 – paragraph -1 a (new)
-1a. In order to ensure an effective and consistent European supervision of financial institutions, the Commission taking into account international principles accorded by the EU and under the EU legislation, shall adopt Regulatory and endorse Supervisory Standards to achieve a Single Rule Book for the European Financial Supervision by means of Regulations or Decisions.
2010/03/24
Committee: ECON
Amendment 260 #

2009/0144(COD)

Proposal for a regulation
Article 7 – paragraph -1 b (new)
-1b. The Single Rule Book shall: a) Detail definitions contained in European legislation. b) Specify common elements for reporting and disclosure requirements contained in European legislation. c) Provide the necessary elements in order to ensure effective cooperation processes, including supervisory risk assessment and information sharing as requested by European legislation. d) Define appropriate regulatory and supervisory standards to deal with the early warnings and recommendations of the ESRB concerning all or a significant part of the European Union. e) Define appropriate regulatory and supervisory standards to deal with the cross border risks identified by the Authority or the European institutions in all or a significant part of the European Union. f) Define appropriate regulatory and supervisory standards regarding reporting, disclosure and prudential requirements for relevant high leveraged companies and investment vehicles operating throughout the EU to prevent systemic and correct cross border risks.
2010/03/24
Committee: ECON
Amendment 261 #

2009/0144(COD)

Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 1
1. The Authority mayshall develop technical standards in the areas specifically set out in this Regulation and in the legislation referred to in Article 1(2). The Authority shall submit its draft standards to the Commission for endorsement or at the Commission request. Technical standards shall not include policy choices and shall reflect the principle of proportionality. The Authority shall submit its draft standards to the Commission for adoption as Delegated Acts (Regulatory Standards) or endorsement as Implementing Acts (Supervisory Standards) according to the present Regulation and the legislation referred to in Article 1(2). The draft standards shall also be transmitted at the same time to the European Parliament and the Council.
2010/03/24
Committee: ECON
Amendment 266 #

2009/0144(COD)

Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 2
Before submitting them to the Commission, the Authority shall, wh conduct open public consultations with all stakeholderes approprind analyse the potential relate,d conduct open public consultations on technical standards and analyse the potential related costs and benefitssts and benefits unless such consultations and analyses are disproportionate in relation to the scope and impact of the technical standards concerned or in relation to the particular urgency of the matter. The Authority shall also request an opinion or advice of the Securities and Markets Stakeholder Group referred to in Article 22.
2010/03/24
Committee: ECON
Amendment 278 #

2009/0144(COD)

Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 3
Within three months of receipt of the draft technical standards, the Commission shall decidendorse wthether to endorse the draft standards. T draft supervisory standards if they comply with European legislation. Within the same period, the Commission may extend that period by one month. The Commission may endorseadopt the draft technical standards only in part or with amendments where the Community interest so requiresy were drawn up as regulatory standards. In both cases, the Commission may extend that period by one month.
2010/03/24
Committee: ECON
Amendment 282 #

2009/0144(COD)

Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 4
WhereIn any case, the Commission does not endorse the standards or endorses them in part or with amendments, it shall inform the Authority of itsshall inform the Authority, the European Parliament and the Council of its decision, stating the reasons.
2010/03/24
Committee: ECON
Amendment 288 #

2009/0144(COD)

Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 4 a (new)
The Commission shall adopt the regulatory standards as delegated acts in accordance with Articles 7a to 7d of this Regulation and endorse the supervisory standards as implementing acts following a procedure pursuant Article 291 of the TFEU.
2010/03/24
Committee: ECON
Amendment 290 #

2009/0144(COD)

Proposal for a regulation
Article 7 – paragraph 2
2. The standards shall be adopted by the Commission by means of Regulations or Decisions and published in the Official Journal of the European UnionHaving completed the due procedure the standards shall be published in the Official Journal of the European Union with the title EU Delegated Standards or EU Implementing Standards respectively.
2010/03/24
Committee: ECON
Amendment 291 #

2009/0144(COD)

Proposal for a regulation
Article 7 – paragraph 2 a (new)
2a. The Single Rule Book shall be updated regularly and shall be adapted to new European legislation.
2010/03/24
Committee: ECON
Amendment 292 #

2009/0144(COD)

Proposal for a regulation
Article 7 – paragraph 2 b (new)
2b. In its annual report the Authority shall set out which national authorities have not complied with the regulatory and supervisory standards.
2010/03/24
Committee: ECON
Amendment 293 #

2009/0144(COD)

Proposal for a regulation
Article 7 a (new)
Article 7a Exercise of the delegation 1. The powers to adopt regulatory standards referred to in Article 7 shall be conferred on the Commission for an indeterminate period of time, unless otherwise specified by sectoral legislation. 2. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 3. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in Articles 7b and 7c.
2010/03/24
Committee: ECON
Amendment 294 #

2009/0144(COD)

Proposal for a regulation
Article 7 b (new)
Article 7b Revocation of the delegation 1. The delegation of power referred to in Article 7 may be revoked by the European Parliament or by the Council. 2. The institution which has commenced an internal procedure for deciding whether to revoke the delegation of power shall endeavour to inform the other institution and the Commission within a reasonable time before the final decision is taken, indicating the delegated powers which could be subject to revocation and the possible reasons for a revocation. 3. The decision of revocation shall take effect immediately or at a later date specified therein. It shall not affect the validity of the delegated acts already in force. It shall be published in the Official Journal of the European Union.
2010/03/24
Committee: ECON
Amendment 295 #

2009/0144(COD)

Proposal for a regulation
Article 7 c (new)
Article 7c Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period may be extended by two months. 2. If on the expiry of that period, neither the European Parliament nor the Council has objected to the delegated act, it shall be published in the Official Journal of the European Union and shall enter into force on the date stated therein. Before the expiry of that period and in exceptional and duly justified cases, the European Parliament and the Council may both inform the Commission that they do not intend to raise objections to a delegated act. In such cases, the delegated act shall be published in the Official journal of the European Union and shall enter into force on the date stated therein. 3. If the European Parliament or the Council objects to a Delegated Act, it shall not enter into force. The institution which objects shall state the reasons for objecting to the delegated act.
2010/03/24
Committee: ECON
Amendment 299 #

2009/0144(COD)

Proposal for a regulation
Article 8 – paragraph 1 a (new)
The guidelines and recommendations shall be published on the website of the Authority.
2010/03/24
Committee: ECON
Amendment 300 #

2009/0144(COD)

Proposal for a regulation
Article 8 – paragraph 2
The competent authorities and financial market participants shall make every effort to comply with those guidelines and recommendations.
2010/03/24
Committee: ECON
Amendment 301 #

2009/0144(COD)

Proposal for a regulation
Article 8 – paragraph 2 a (new)
Within two months of the issuance of a guideline or recommendation, each competent authority shall decide whether intends to comply with that guideline or recommendation. In the event that competent authority does not apply those guidelines or recommendations it shall inform the Authority of its reasons. The Authority may decide, on a case by case basis, to publish such reasons provided by a competent authority.
2010/03/24
Committee: ECON
Amendment 302 #

2009/0144(COD)

Proposal for a regulation
Article 8 – paragraph 2 b (new)
After the issuance, all financial market participants shall report yearly, in a clear and detailed way, if they comply with that guideline or recommendation.
2010/03/24
Committee: ECON
Amendment 303 #

2009/0144(COD)

Proposal for a regulation
Article 8 – paragraph 2 c (new)
In its annual report the Authority shall state which national authority has not complied with its issued guidelines and recommendations and outlining how the Authority intends to ensure that they follow its recommendations and guidelines in the future; it shall also include the same information for the main larger financial market participants..
2010/03/24
Committee: ECON
Amendment 305 #

2009/0144(COD)

Proposal for a regulation
Article 9 – paragraph 1
1. Where a competent authority has not correctlyapplied or has applied the legally binding acts and legislation referred to in Article 1(2) in a way which appears to be a breach of European Union law, in particular by failing to ensure that a financial market participant satisfies the requirements laid down in that legislation, the Authority shall have the powers set out in paragraphs 2, 3 and 6 of this Article.
2010/03/24
Committee: ECON
Amendment 310 #

2009/0144(COD)

Proposal for a regulation
Article 9 – paragraph 2 – subparagraph 1
2. Upon request from one or more competent authorities, from the Commission the European Parliament, the Council, the Securities and Markets Stakeholder Group or on its own initiative and after having informed the competent authority concerned, the Authority may investigate the alleged incorrectbreach or non- application of CommunityUnion law.
2010/03/24
Committee: ECON
Amendment 330 #

2009/0144(COD)

Proposal for a regulation
Article 9 – paragraph 7 a (new)
7a. In its annual report, the Authority shall set out which national authorities and financial market participant have not complied with the decisions referred to in paragraphs 4 and 6.
2010/03/24
Committee: ECON
Amendment 336 #

2009/0144(COD)

Proposal for a regulation
Article 10 – paragraph 1
1. In the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Community, the CommissionEuropean Union, the ESRB, upon its own initiative or following a request by the Authority, the Council, or the ESRB,European Parliament or a Member State may adopt a decision addressed to the Authority, determining the existence of an emergency situation for the purposes of this regulation.
2010/03/24
Committee: ECON
Amendment 342 #

2009/0144(COD)

Proposal for a regulation
Article 10 – paragraph 2
2. Where the Commission has adopted a decision pursuant to paragraph 1, the Authority may adopt individual decisions requiring competent authorities to take the necessary actESRB has issued a warning pursuant to paragraph 1, or when the Commission or the Council, upon its own initiative or following a request by the Authority, the European Parliament or a Member State, adopts a decision determining the existence of similar or justified circumstances where co- ordinated action by national authorities is necessary to respond to adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the European Union; the Authority may adopt, without further requirements, individual decisions in accordance with the legislation referred to in Article 1(2) to address any risks that may jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system by ensuring that financial market participants and competent authorities satisfy the requirements laid down in that legislation.
2010/03/24
Committee: ECON
Amendment 378 #

2009/0144(COD)

Proposal for a regulation
Article 12 a (new)
Article 12a Evolution of the Authority The Authority shall evolve according to the best practices recognised at European and international level. One such approach could be the establishment of a new level of direct supervision by the Authority. To avoid international distortions and to strengthen the European System of Financial Supervision, the introduction of direct supervision should be carefully evaluated and considered in order to add value to the supervision of large financial institutions, many of which are global in nature and operate in the EU. This applies above all to those large financial institutions with wholesale banking or other activities that could pose systemic risk to the internal market, and those systemic financial institutions defined and identified at an international level. This issue shall be further studied in the first revision of the present Regulation, as set out in Article 66, which should take place not later than three years from its entry into force.
2010/03/24
Committee: ECON
Amendment 382 #

2009/0144(COD)

Proposal for a regulation
Article 13 – paragraph 1
1. Competent authorities may, by bilateral agreementagreements among them, delegate tasks and responsibilities to other competent authorities supervisory.
2010/03/24
Committee: ECON
Amendment 383 #

2009/0144(COD)

Proposal for a regulation
Article 13 – paragraph 2
2. The Authority shall facilitate the delegation of tasks and responsibilities between competent authorities by identifying those tasks and responsibilities that can be delegated or jointly exercised and by promoting best practices and by preparing appropriate multilateral frameworks.
2010/03/24
Committee: ECON
Amendment 393 #

2009/0144(COD)

Proposal for a regulation
Article 14 – paragraph 1 – subparagraph 1 – point d
(d) review the application of the relevant technical standards adopted or endorsed by the Commission, guidelines and recommendations issued by the Authority and propose amendments where appropriate;
2010/03/24
Committee: ECON
Amendment 395 #

2009/0144(COD)

Proposal for a regulation
Article 15 – paragraph 2 – subparagraph 1 – point a
(a) the adequacy of institutional arrangements, resourcing and staff expertiseresources and governance arrangements of the competent authority, with particular regard to the effective application of the standards and legislation referred to in Article 1(2) and to the capacity to respond to market developments;
2010/03/24
Committee: ECON
Amendment 396 #

2009/0144(COD)

Proposal for a regulation
Article 15 – paragraph 2 – subparagraph 1 – point b
(b) the degree of convergence reached in the application of CommunityEuropean Union law and in supervisory practice, including technicalregulatory and supervisory standards, guidelines and recommendations adopted under Articles 7 and 8, and the extent to which the supervisory practice achieves the objectives set out in CommunityUnion law;
2010/03/24
Committee: ECON
Amendment 397 #

2009/0144(COD)

Proposal for a regulation
Article 15 – paragraph 3
3. On the basis of the peer review the Authority may issue recommendations or adopt other appropriated measures to the competent authorities concerned.
2010/03/24
Committee: ECON
Amendment 401 #

2009/0144(COD)

Proposal for a regulation
Article 16 – paragraph 2 – point 3 a (new)
(3a) taking all appropriate measures in situations of financial instability and crisis with a view to achieve a common response, as fast and automatically as possible, by relevant national competent supervisory authorities;
2010/03/24
Committee: ECON
Amendment 408 #

2009/0144(COD)

Proposal for a regulation
Article 18 – paragraph -1 a (new)
The Authority shall represent the European Union in all international fora concerning regulation and supervision of the institutions falling under the legislation referred to in Article 1(2). National competent authorities may continue to contribute to such fora as pertain to national issues and issues relevant for their own functions and competences under Union law.
2010/03/24
Committee: ECON
Amendment 447 #

2009/0144(COD)

Proposal for a regulation
Article 22 – paragraph 3 - subparagraph 2
In making its decision, the Board of Supervisors shall, to the extent possible, ensure an appropriate geographical and gender balance and representation of stakeholders across the CommunityUnion .
2010/03/24
Committee: ECON
Amendment 470 #

2009/0144(COD)

Proposal for a regulation
Article 23 – paragraph 1
1. The Authority shall ensure that the financial system internalise, with a cyclical perspective, its costs and that no decision adopted under Articles 10 or 11 impinges in any direct way on the fiscal responsibilities of Member States.
2010/03/24
Committee: ECON
Amendment 478 #

2009/0144(COD)

Proposal for a regulation
Article 23 – paragraph 2 – subparagraph 1
2. Where a Member State considers thadoes not accept a decision taken under Article 11 (3) because it impinges on its fiscal responsibilities, it mayshall notify the Authority and, the Commission and the European Parliament within one month after notification of the Authority's decision to the competent authority that the decision will not be implemented by the competent authority.
2010/03/24
Committee: ECON
Amendment 494 #

2009/0144(COD)

Proposal for a regulation
Article 23 – paragraph 2 – subparagraph 5
Where the Authority maintains its decision, the Council, acting by qualified majority as defined in Article 205 of the Treaty, shall, within two months shall take a decision by a majority of the votes cast, at one of its meetings at the latest two months after the Authority has informed the Member State as set out in the previous subparagraph, as to, decide whether the Authority's decision is maintained or revoked.
2010/03/24
Committee: ECON
Amendment 529 #

2009/0144(COD)

Proposal for a regulation
Article 27 – paragraph 1 a (new)
The members of the Board of Supervisors and their staff should not have worked or provide services to financial institutions during the 3 previous years nor should they do it in the 3 years after having left their responsibilities in the Authority.
2010/03/24
Committee: ECON
Amendment 553 #

2009/0144(COD)

Proposal for a regulation
Article 31 – paragraph 1 a (new)
Neither Member States, European Union institutions or bodies, nor any other public or private body shall seek to influence the members of the Management Board.
2010/03/24
Committee: ECON
Amendment 554 #

2009/0144(COD)

Proposal for a regulation
Article 31 – paragraph 1 b (new)
In accordance with the Staff Regulations referred to in Article 54, the members of the Management Board shall, after leaving the service, continue to be bound by the duty to behave with integrity and discretion as regards the acceptance of certain appointments or benefits.
2010/03/24
Committee: ECON
Amendment 564 #

2009/0144(COD)

Proposal for a regulation
Article 34 – paragraph 1 a (new)
In accordance with the Staff Regulations referred to in Article 54, the Chairperson shall, after leaving the service, continue to be bound by the duty to behave with integrity and discretion as regards the acceptance of certain appointments or benefits.
2010/03/24
Committee: ECON
Amendment 571 #

2009/0144(COD)

Proposal for a regulation
Article 37 – paragraph 1 a (new)
The Executive Director should not have worked or provide services to financial institutions during the 3 previous years nor should they do it in the 3 years after having left their responsibilities in the Authority.
2010/03/24
Committee: ECON
Amendment 572 #

2009/0144(COD)

Proposal for a regulation
Article 37 – paragraph 1 b (new)
In accordance with the Staff Regulations referred to in Article 54, the Executive Director shall, after leaving the service, continue to be bound by the duty to behave with integrity and discretion as regards the acceptance of certain appointments or benefits.
2010/03/24
Committee: ECON
Amendment 579 #

2009/0144(COD)

Proposal for a regulation
Article 40 – paragraph 2
2. The Joint Committee shall serve as a forum in which the Authority shall cooperate regularly and closely and ensure cross-sectoral consistency with the European Insurance and Occupational Pensions Authority and the Banking Authority. ; it shall also ensure cross- sectoral supervisory consistency and coordination in particular on: – financial conglomerates – accounting and auditing; – micro-prudential analyses for financial stability; – retail investment products; – anti-money laundering measures; and – information exchange with the European Systemic Risk Board.
2010/03/24
Committee: ECON
Amendment 596 #

2009/0144(COD)

Proposal for a regulation
Article 44 – paragraph 3 – subparagraph 1
3. Two members of the Board of Appeal and two alternates shall be appointed by the Management Board of the Authority from a short-list proposedEuropean Parliament, two members by the Council and the other two members by the Commission, following a public call for expression of interest published in the Official Journal of the European Union, and after consultation of the Board of Supervisors.
2010/03/24
Committee: ECON
Amendment 599 #

2009/0144(COD)

Proposal for a regulation
Article 44 – paragraph 3 – subparagraph 2
The other Members shall be appointed in accordance with Regulation (EC) No …/… [EIOPA] and Regulation (EC) No …/… [EBA].deleted
2010/03/24
Committee: ECON
Amendment 601 #

2009/0144(COD)

Proposal for a regulation
Article 44 – paragraph 5
5. A member of the Board of Appeal, who was appointed by the Management Board of the Authority, may not be removed during his term of office, unless he has been found guilty of serious misconduct, and the Management Boardinstitution who appointed him/her takes a decision to that effect after consulting the Board of Supervisors.
2010/03/24
Committee: ECON
Amendment 607 #

2009/0144(COD)

Proposal for a regulation
Article 47 – paragraph 1 a (new)
1a. Member States and the European Union institutions, as well as any natural or legal person, may lodge a direct appeal before the Court of Justice against decisions of the Authority, in accordance with Article 263 of the Treaty on the Functioning of the European Union.
2010/03/24
Committee: ECON
Amendment 618 #

2009/0144(COD)

Proposal for a regulation
Article 59 – paragraph 2
2. The Management BoardBoard of Supervisors shall decide on the internal language arrangements for the Authority.
2010/03/24
Committee: ECON
Amendment 623 #

2009/0144(COD)

Proposal for a regulation
Article 62 – paragraph 3 a (new)
3a. The Authority shall be considered the legal successor of the Committee of European Securities Regulators. At the latest on the date of establishment of the Authority, all assets and liabilities and all pending operations of the Committee of European Securities Regulators will be automatically transferred to the Authority. The Committee of European Securities Regulator shall establish a statement showing its closing asset and liability situation as of the date of that transfer, This statement shall be audited and approved by its members and by the Commission.
2010/03/24
Committee: ECON
Amendment 632 #

2009/0144(COD)

Proposal for a regulation
Article 66 – paragraph 1 – subparagraph 2
That report shall also evaluate the progress achievedthat has been made in the achievement of the Authority's objectives and the evolution towards regulatory and supervisory convergence in the fields of crisis management and resolution in the CommunityEuropean Union. Equally, the report shall evaluate how the system is dealing with the costs derived from its ordinary functioning and how can their full internalisation be achieved. The evaluation shall be based on extensive consultation, including with the Securities and Markets Stakeholder Group.
2010/03/24
Committee: ECON
Amendment 635 #

2009/0144(COD)

Proposal for a regulation
Article 66 – paragraph 2 a (new)
2a. The European Parliament and the Council shall examine this Regulation on the basis of the report referred to in paragraph 1 and shall determine whether the missions and organisation of the Authority need to be reviewed.
2010/03/24
Committee: ECON
Amendment 151 #

2009/0143(COD)

Proposal for a regulation
Title
establishing a European Supervisory Authority on Insurance and Occupational Pensions Authority
2010/03/23
Committee: ECON
Amendment 168 #

2009/0143(COD)

Proposal for a regulation
Recital 21 a (new)
21a. Furthermore, the Declaration on strengthening the financial system adopted on the summit of G-20 Leaders held in London on 2 April 2009 called for "[setting] guidelines for, and support the establishment, functioning of, and participation in, supervisory colleges, including through ongoing identification of the most systemically important cross- border firms".
2010/03/23
Committee: ECON
Amendment 196 #

2009/0143(COD)

Proposal for a regulation
Article 1 – paragraph 1
1. This Regulation establishes a European Supervisory Authority on Insurance and Occupational Pensions Authority ("the Authority").
2010/03/23
Committee: ECON
Amendment 197 #

2009/0143(COD)

Proposal for a regulation
Article 1 – paragraph 2
2. The Authority shall act within the scope of this Regulation and Directive 64/225/EEC, Directive 73/239/EEC, Directive 73/240/EEC, Directive 76/580/EEC, Directive 78/473/EEC, Directive 84/641/EEC, Directive 87/344/EEC, Directive 88/357/EEC, Directive 92/49/EEC, Directive 98/78/EC, Directive 2001/17/EC, Directive 2002/83/EC, Directive 2002/92/EC, Directive 2003/41/EC, Directive 2002/87/EC, Directive 2005/68/EC, Directive 2007/44/EC, Directive 2005/60/EC, Directive 2002/65/EC, including all directives, regulations, and decisions based on these acts, and of any further CommunityUnion act which confers tasks on the Authority.
2010/03/23
Committee: ECON
Amendment 198 #

2009/0143(COD)

Proposal for a regulation
Article 1 – paragraph 3
3. The provisions of this Regulation are without prejudice to the powers of the Commission, in particular under Article 22658 of the Treaty on the Functioning of the European Union to ensure compliance with CommunityUnion law.
2010/03/23
Committee: ECON
Amendment 199 #

2009/0143(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be toAuthority shall promote financial sustainability and a strong Union financial market with the objective of contributeing to: (i) improving the functioning and competitiveness of the internal market, on the basis of financial inclusion and a level playing field, preventing and correcting systemic and cross-border risk, and including in particular a high, effective and, consistent and EU level of regulation and supervision, (ii) protecting depositors and investor, investors and other stakeholders as well as public finances, (iii) ensuring the integrity, transparency, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination and its sustainable interaction with real economy, (iv) reducing the procyclicality of finance and, in general, safeguarding the short, medium and long term stability of the financial system, (v) fostering a smooth implementation of monetary policy in the markets as well as the control on banking deposits and institutional funds, (vi) achieving the goals of the euro area and (vii) strengthening international supervisory coordination and cooperation, enhancing global competitiveness and supporting the financial development of the less advanced economies. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective harmonisation and application of the CommunityUnion law referred to in Article 1(2) above, fostering supervisory integration and convergence and, providing opinions to the European Parliament, the Council, and the Commission. and undertaking an economic analysis of markets to promote the achievement of the Authority's objectives.
2010/03/23
Committee: ECON
Amendment 208 #

2009/0143(COD)

Proposal for a regulation
Article 1 a (new)
Article 1a The European System of Financial Supervision 1. The Authority shall form part of the European System of Financial Supervision (ESFS), which shall function as an integrated network of supervisors that brings together all the authorities in the Member States and the Union with competence in the field of financial supervision as laid down in Union law. The main objective of the ESFS is to ensure strong and consistent Union supervision of financial institutions in order to ensure confidence in the financial system, support sustainable Union growth and serve the needs of businesses and citizens 2. The ESFS shall comprise the following: (a) the European Systemic Risk Board, established by Regulation (EU) No .../... [ESRB]; (b) the European Supervisory Authority (Securities and Markets) established by Regulation (EU) No .../... [ESMA]; (c) the European Supervisory Authority (Banking (EU) No …/…[EBA]; (d) the Authority; (e) the Joint Committee of European Supervisory Authorities (JCESA) provided for in Article 40; (f) the authorities in the Member States referred to in Article 1(2) of Regulations (EU) No .../... [ESMA], Regulation (EU) No …/2009 [EIOPA] and Regulation (EU) No …/… [EBA]; (g) the Commission, for the purposes of carrying out the tasks referred to in Articles 7 and 9; 3. All the parties of the ESFS shall cooperate closely between each other with trust and full mutual respect, pursuant to the principle of sincere cooperation in accordance with Article 13(2) of the Treaty on European Union. 4. All financial institutions are subject to legally binding acts under Union law and to the supervision of the competent authorities part of the ESFS. 5. The ESFS shall not prevent competent authorities from exercising national supervisory powers in conformity with legally binding Union acts and in accordance with the international prudential principles on banking supervision. 6. Only those supervisory authorities included in the ESFS shall be entitled to supervise financial institutions in the Union.
2010/03/23
Committee: ECON
Amendment 210 #

2009/0143(COD)

Proposal for a regulation
Article 2 – point 2 a (new)
(2a) 'systemic risk' means a risk of disruption to financial services that is caused by a significant impairment of all or parts of the financial system and that has the potential to have serious negative consequences for the real economy. In this context, any type of financial institution and intermediary, market, infrastructure and instrument has the potential to be systemically significant.
2010/03/23
Committee: ECON
Amendment 211 #

2009/0143(COD)

Proposal for a regulation
Article 2 – point 2 b (new)
(2b) 'cross-border risk' means risk caused by economic imbalances or financial failures in all or parts of the Union that have the potential to have significant negative consequences for the transactions between economic operators of two or more Member States, for the functioning of the internal market, or for the public finances of the Union or any of its Member States. In this context, any type of economic and financial risk has the potential to be a cross-border risk.
2010/03/23
Committee: ECON
Amendment 213 #

2009/0143(COD)

Proposal for a regulation
Article 3 – paragraph 3 a (new)
3a. The national supervisory authorities shall act, as members of the Authority, with a Union dimension.
2010/03/23
Committee: ECON
Amendment 215 #

2009/0143(COD)

Proposal for a regulation
Article 6 – paragraph 1 – introductory part
1. TIn order to ensure an effective and consistent Union supervision of financial institutions the Authority shall have the following tasks:
2010/03/23
Committee: ECON
Amendment 216 #

2009/0143(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point a
(a) contribute to the establishment of high quality common regulatory and supervisory standards and practices, in particular by providing opinions to the CommunityUnion institutions and by developing guidelines, recommendations, and draft technical standards which shall be based on this Regulation and the legislation referred to in Article 1(2);
2010/03/23
Committee: ECON
Amendment 218 #

2009/0143(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point b
(b) contribute to a consistent application of Communitystandards and legislation, in particular by contributing to a common supervisory culture, ensuring consistent, efficient and effective application of this Regulation and the legislation referred to in Article 1(2), preventing regulatory arbitrage, mediating and settling disagreements between national supervisorycompetent authorities, promotensuring a coherent functioning of colleges of supervisors and taking actions, inter alia, in emergency situations;
2010/03/23
Committee: ECON
Amendment 224 #

2009/0143(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point g a (new)
(ga) take over, as appropriate, all existing tasks from the Committee of European Insurance and Occupational Pensions Supervisors;
2010/03/23
Committee: ECON
Amendment 227 #

2009/0143(COD)

Proposal for a regulation
Article 6 – paragraph 2 – point f a (new)
(fa) promote coordination between competent authorities, as specified in Article 16, including the activation of their powers as members of the Authority to achieve a common Union response to deal with systemic and cross-border risks;
2010/03/23
Committee: ECON
Amendment 233 #

2009/0143(COD)

Proposal for a regulation
Article 6 – paragraph 3 – subparagraph 2
For that purpose, the Authority shall have appropriate Union powers of investigation and enforcement as specified in the relevant legislation, as well as the possibility of charging fees.
2010/03/23
Committee: ECON
Amendment 234 #

2009/0143(COD)

Proposal for a regulation
Article 6 a (new)
Article 6a Powers of the Member States' competent authorities that are members of the Authority In order to achieve the objectives of the Authority, Member State's competent authorities that are members of the Authority shall have powers to adopt preventing and correcting supervisory measures. Those powers shall relate to financial institutions and shall be exercised proportionately. They shall include the capacity to: (a) demand and receive adequate information; (b) impose reporting and disclosure requirements; (c) carry out on-site inspections. (d) adopt prudential measures (including those affecting conflicts of interest, good governance, liquidity, provisions, dividends and remuneration policies); (e) split or segregate retail banking activities from trading and other non- utility activities in the event of relevant risk assessed following common criteria; (f) restrict or forbid temporarily certain products or types of transactions that may cause directly or indirectly excessive volatility in the markets or perturb all of part of the Union's financial system, public finances or real economy; (g) order financial institutions to operate through a subsidiary in case of relevant internal risk assessed according to common criteria; (h) impose dissuasive fines; (i) disqualify managers and directors; (j) remove executives or the Board; (k) intervene temporally in financial institutions; (l) withdraw the benefits of limited liability to significant shareholders of financial institutions when they are passive in defending the corporate interest in cases such as lack of transparency, fearlessly lending or borrowing, or serious and systematic infringement; (m) extend financial liability to managers, directors or financial institutions that cause or collaborate in serious and systematic infringement or have an inappropriate system of incentives to their services; (n) take custody, where appropriate, of declarations of managers and directors on interest, activities and assets; (o) request the development of a detailed resolution regime, to be updates regularly, comprising a structured early intervention mechanism, prompt corrective actions and a bankruptcy contingency plan; (p) cancel licenses and withdraw passports; and (q) agree on protocols to achieve a common response at Union level, as expeditiously and systematically as possible, to prevent or correct market perturbations.
2010/03/23
Committee: ECON
Amendment 235 #

2009/0143(COD)

Proposal for a regulation
Article 7 – Title
Technical standards The Single Rule Book
2010/03/23
Committee: ECON
Amendment 236 #

2009/0143(COD)

Proposal for a regulation
Article 7 – paragraph -1 a (new)
-1a. In order to ensure effective and consistent Union supervision of financial institutions, the Commission, taking into account international principles sanctioned by the Union or codified in Union legislation, shall adopt regulatory standards and shall endorse supervisory standards to achieve a 'Single Rule Book for Union Financial Supervision' (Single Rule Book) by means of regulations or decisions.
2010/03/23
Committee: ECON
Amendment 237 #

2009/0143(COD)

Proposal for a regulation
Article 7 – paragraph -1 b (new)
-1b. The Single Rule Book shall: (a) set out definitions contained in Union legislation; (b) specify common elements for reporting and disclosure requirements contained in Union legislation; (c) provide the necessary elements in order to ensure effective cooperation processes, including supervisory risk assessment and information sharing as requested by Union legislation; (d) define appropriate regulatory and supervisory standards to deal with the early warnings and recommendations of the ESRB concerning all or a significant part of the Union; (e) define appropriate regulatory and supervisory standards to deal with the cross-border risks identified by the Authority or the EU institutions in all or a significant part of the Union; and (f) define appropriate regulatory and supervisory standards regarding reporting, disclosure and prudential requirements for relevant high leveraged companies and investment vehicles operating throughout the Union to prevent systemic risks and to correct cross-border risks.
2010/03/23
Committee: ECON
Amendment 239 #

2009/0143(COD)

Proposal for a regulation
Article 7 – paragraph 1 - subparagraph 1
1. The Authority mayshall develop technical standards in the areas specifically set out in the present Regulation and in the legislation referred to in Article 1(2) or on the Commission's request. Technical standards shall not include policy choices and shall reflect the principle of proportionality. The Authority shall submit its draft technical standards to the Commission for endorsement. adoption as delegated acts (regulatory standards) or endorsement as implementing acts (supervisory standards) in accordance with this Regulation and with the legislation referred to in Article 1(2). The draft standards shall be transmitted at the same time to the European Parliament and the Council.
2010/03/23
Committee: ECON
Amendment 242 #

2009/0143(COD)

Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 2
Before submitting them to the Commission, the Authority shall, where appropriate, conduct open public consultations on technical standards and analyse the potential related costs and benefitswith all stakeholders and analyse the potential related costs and benefits, unless such consultations and analyses are disproportionate in relation to the scope and impact of the technical standards concerned or the particular urgency of the matter. The Authority shall also request an opinion or advice of the Insurance, Reinsurance and Occupational Pensions Stakeholder Group referred to in Article 22.
2010/03/23
Committee: ECON
Amendment 245 #

2009/0143(COD)

Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 3
Within three months of receipt of the draft technical standards, the Commission shall decide whether to endorse the draft standards. The Commission may extend that period by one month. Tupervisory standards if they comply with Union legislation. Within the same period, the Commission may endorseadopt the draft standards only in part ortechnical standards with amendments where the Community interest so requires. y were drawn up as regulatory standards. In both cases, the Commission may extend that period by one month.
2010/03/23
Committee: ECON
Amendment 250 #

2009/0143(COD)

Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 4
WhereIn any event, the Commission does not endorse the standards or endorses them in part or with amendments, it shall inform the Authority ofshall inform the Authority, the European Parliament and the Council of its decision, stating its reasons.
2010/03/23
Committee: ECON
Amendment 252 #

2009/0143(COD)

Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 4 a (new)
The Commission shall adopt the regulatory standards as delegated acts in accordance with Articles 7a to 7d of this Regulation and shall endorse the supervisory standards as implementing acts following a procedure pursuant Article 291 of the Treaty on the Functioning of the European Union.
2010/03/23
Committee: ECON
Amendment 254 #

2009/0143(COD)

Proposal for a regulation
Article 7 – paragraph 2
2. The standards shall be adopted by the Commission by means of Regulations or Decisions and published in the Official Journal of the European UnionHaving completed the due procedure, the standards shall be published in the Official Journal of the European Union with the title EU Delegated Standards or EU Implementing Standards respectively.
2010/03/23
Committee: ECON
Amendment 255 #

2009/0143(COD)

Proposal for a regulation
Article 7 – paragraph 2 a (new)
2a. The Single Rule Book shall be updated regularly and shall be adapted in accordance with Union law.
2010/03/23
Committee: ECON
Amendment 256 #

2009/0143(COD)

Proposal for a regulation
Article 7 – paragraph 2 b (new)
2b. In its annual report the Authority shall set out which national authorities have not complied with the regulatory or supervisory standards.
2010/03/23
Committee: ECON
Amendment 258 #

2009/0143(COD)

Proposal for a regulation
Article 7 a (new)
Article 7a Exercise of the delegation 1. The powers to adopt regulatory standards referred to in Article 7 shall be conferred on the Commission for an indeterminate period of time, unless otherwise specified by sectoral legislation. 2. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 3. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in Articles 7b and 7c.
2010/03/23
Committee: ECON
Amendment 262 #

2009/0143(COD)

Proposal for a regulation
Article 7 b (new)
Article 7b Revocation of the delegation 1. The delegation of power referred to in Article 7 may be revoked by the European Parliament or by the Council. 2. The institution which has commenced an internal procedure for deciding whether to revoke the delegation of power shall endeavour to inform the other institution and the Commission within a reasonable time before the final decision is taken, indicating the delegated powers which could be subject to revocation and the possible reasons for a revocation. 3. The decision of revocation shall take effect immediately or at a later date specified therein. It shall not affect the validity of the delegated acts already in force. It shall be published in the Official Journal of the European Union.
2010/03/23
Committee: ECON
Amendment 264 #

2009/0143(COD)

Proposal for a regulation
Article 7 c (new)
Article 7c Objections to Delegated Acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period may be extended by two months. 2. If on the expiry of that period, neither the European Parliament nor the Council has objected to the delegated act, it shall be published in the Official Journal of the European Union and shall enter into force at the date stated therein. Before the expiry of that period and in exceptional and duly justified cases, the European Parliament and the Council may both inform the Commission that they do not intend to raise objections to a delegated act. In such cases, the delegated act shall be published in the Official journal of the European Union and shall enter into force at the date stated therein. 3. If the European Parliament or the Council objects to a Delegated Act, it shall not enter into force. The institution which objects shall state the reasons for objecting to the delegated act.
2010/03/23
Committee: ECON
Amendment 270 #

2009/0143(COD)

Proposal for a regulation
Article 8 – paragraph 1 a (new)
The guidelines and recommendations shall be published on the website of the Authority.
2010/03/23
Committee: ECON
Amendment 271 #

2009/0143(COD)

Proposal for a regulation
Article 8 – paragraph 2
The national supervisory authoritiecompetent authorities and financial institutions shall make every effort to comply with those guidelines and recommendations.
2010/03/23
Committee: ECON
Amendment 272 #

2009/0143(COD)

Proposal for a regulation
Article 8 – paragraph 2 a (new)
Within two months of the issuance of a guideline or recommendation, each competent authority shall decide whether it intends to comply with that guideline or recommendation. In the event that competent authority does not apply those guidelines or recommendations it shall inform the Authority of its reasons. The Authority may decide, on a case-by-case basis, to publish such reasons provided by a competent authority.
2010/03/23
Committee: ECON
Amendment 273 #

2009/0143(COD)

Proposal for a regulation
Article 8 – paragraph 2 b (new)
After the issuance, all financial entities shall report yearly, in a clear and detailed manner, if they comply with that guideline or recommendation.
2010/03/23
Committee: ECON
Amendment 274 #

2009/0143(COD)

Proposal for a regulation
Article 8 – paragraph 2 c (new)
In its annual report the Authority shall state which national authority has not complied with its issued guidelines and recommendations and shall outline how the Authority intends to ensure that compliance in the future. The Authority shall include the same information for the main larger financial entities.
2010/03/23
Committee: ECON
Amendment 277 #

2009/0143(COD)

Proposal for a regulation
Article 9 – paragraph 1
1. Where a national supervisorycompetent authority has not correctly applied the legally binding acts and legislation referred to in Article 1(2) or has applied them in a manner that appears to be in breach of Union law, in particular by failing to ensure that a financial institution satisfies the requirements laid down in that legislation, the Authority shall have the powers set out in paragraphs 2, 3 and 6 of this Article.
2010/03/23
Committee: ECON
Amendment 279 #

2009/0143(COD)

Proposal for a regulation
Article 9 – paragraph 2 – subparagraph 1
2. Upon request from one or more national supervisorycompetent authorities, from the CommissionEuropean Parliament, the Commission, the Council, the Insurance and Reinsurance Stakeholder Group or on its own initiative and after having informed the national supervisorycompetent authority concerned, the Authority may investigate the alleged incorrect application of Communitybreach of, or failure to apply, Union law.
2010/03/23
Committee: ECON
Amendment 311 #

2009/0143(COD)

Proposal for a regulation
Article 10 – paragraph 1
1. In the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Community, the Commission,Union, the ESRB upon its own initiative or following a request by the Authority, the Council, or the ESRB, may adopt a decision addressed to the Authority, determinEuropean Parliament or a Member State may issue a warning declaring the existence of an emergency situation for the purposes of this regulation.
2010/03/23
Committee: ECON
Amendment 315 #

2009/0143(COD)

Proposal for a regulation
Article 10 – paragraph 2
2. Where the Commission has adopted a decision pursuant to paragraph 1, the Authority may adopt individual decisions requiring national supervisory authorities to take the necessary actESRB has issued a warning pursuant to paragraph 1, or where the European Parliament, the Council or the Commission, on their own initiative or following a request by the Authority, or a Member State, adopts a decision determining the existence of similar or justified circumstances in which coordinated action by national authorities is necessary to respond to adverse developments which could seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Union, the Authority may, without further requirements, adopt individual decisions in accordance with the legislation referred to in Article 1(2) to address any risks that may jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system by ensuring that financial institutions and national supervisory authorities satisfy the requirements laid down in that legislation.
2010/03/23
Committee: ECON
Amendment 362 #

2009/0143(COD)

Proposal for a regulation
Article 12 a (new)
Article 12a Evolution of the Authority The Authority shall evolve according to the best practices recognised at Union and international level. One such approach could be the establishment of a new level of direct supervision by the Authority. To avoid international distortions and to strengthen the European System of Financial Supervision, the introduction of direct supervision should be carefully evaluated and considered in order to add value to the supervision of large financial institutions, many of which are global in nature and operate in the Union. This applies, above all, to those large financial institutions with wholesale banking or other activities that could pose systemic risk to the internal market, and those systemic financial institutions defined and identified at an international level. This issue shall be further studied in the first review of this Regulation, as provided for in Article 66, which should take place no later than three years after its entry into force.
2010/03/23
Committee: ECON
Amendment 367 #

2009/0143(COD)

Proposal for a regulation
Article 13 – paragraph 1
1. National supervisoryCompetent authorities may, by bilateral agreement, delegate tasks and responsibilities to other national supervisorycompetent authorities.
2010/03/23
Committee: ECON
Amendment 368 #

2009/0143(COD)

Proposal for a regulation
Article 13 – paragraph 2
2. The Authority shall facilitate the delegation of tasks and responsibilities between national supervisory authorities by identifying those tasks and responsibilities that can be delegated or jointly exercised and by promoting best practices and by preparing appropriate multilateral frameworks.
2010/03/23
Committee: ECON
Amendment 377 #

2009/0143(COD)

Proposal for a regulation
Article 14 – paragraph 1 – point d
(d) review the application of the relevant technical standards adopted or endorsed by the Commission, guidelines and recommendations issued by the Authority and propose amendments where appropriate;
2010/03/23
Committee: ECON
Amendment 379 #

2009/0143(COD)

Proposal for a regulation
Article 15 – paragraph 2 – point a
(a) the adequacy of institutional arrangements, resourcing and staff expertiseresources and governance arrangements of the national supervisory authority, with particular regard to the effective application of the standards and legislation referred to in Article 1(2) and to the capacity to respond to market developments;
2010/03/23
Committee: ECON
Amendment 380 #

2009/0143(COD)

Proposal for a regulation
Article 15 – paragraph 2 – point b
(b) the degree of convergence reached in the application of CommunityUnion law and in supervisory practice, including regulatory and supervisory technical standards, guidelines and recommendations adopted under Articles 7 and 8, and the extent to which the supervisory practice achieves the objectives set out in CommunityUnion law;
2010/03/23
Committee: ECON
Amendment 382 #

2009/0143(COD)

Proposal for a regulation
Article 15 – paragraph 3
3. On the basis of the peer review the Authority may issue recommendations or adopt other appropriated measures to the national supervisory authorities concerned.
2010/03/23
Committee: ECON
Amendment 386 #

2009/0143(COD)

Proposal for a regulation
Article 16 – paragraph 2 – point 3 a (new)
(3a) taking all appropriate measures in situations of financial instability and crisis with a view to achieve a common response, as fast and automatically as possible, by relevant national competent supervisory authorities;
2010/03/23
Committee: ECON
Amendment 392 #

2009/0143(COD)

Proposal for a regulation
Article 18 – paragraph -1 a (new)
The Authority shall represent the European Union in all international fora concerning regulation and supervision of the institutions covered under the legislation referred to in Article 1(2). National competent authorities may continue to contribute to such fora as pertain to national issues and issues relevant for their own functions and competences under Union law.
2010/03/23
Committee: ECON
Amendment 426 #

2009/0143(COD)

Proposal for a regulation
Article 22 – paragraph 3 – subparagraph 2
In making its decision, the Board of Supervisors shall, to the extent possible, ensure an appropriate geographical and gender balance and representation of stakeholders across the CommunityEuropean Union.
2010/03/23
Committee: ECON
Amendment 452 #

2009/0143(COD)

Proposal for a regulation
Article 23 – paragraph 1
1. The Authority shall ensure that the insurance and occupational pensions sector internalise, with a cyclical perspective, its costs and that no decision adopted under Articles 10 or 11 impinges in any direct way on the fiscal responsibilities of Member States.
2010/03/23
Committee: ECON
Amendment 458 #

2009/0143(COD)

Proposal for a regulation
Article 23 – paragraph 2 – subparagraph 1
2. Where a Member State considers thadoes not accept a decision taken under Article 11(3) because it impinges on its fiscal responsibilities, it mayshall notify the Authority and the Commission within one monthand the European Parliament within twenty working days after notification of the Authority's decision to the national supervisory authority that the decision will not be implemented by the national supervisory authority.
2010/03/23
Committee: ECON
Amendment 463 #

2009/0143(COD)

Proposal for a regulation
Article 23 – paragraph 2 – subparagraph 5
Where the Authority maintains its decision, the Council, acting by qualified majority as defined in Article 205 of the Treaty, shall, within two months, decide shall take a decision by a majority of the votes cast, at one of its meetings at the latest two months after the Authority has informed the Member State as set out in the previous subparagraph, as to whether the Authority's decision is maintained or revoked. .
2010/03/23
Committee: ECON
Amendment 487 #

2009/0143(COD)

Proposal for a regulation
Article 27 – paragraph 1 a (new)
1a. The members of the Board of Supervisors and their staff should not have worked or provided services to financial institutions during the 3 previous years nor should they do it in the 3 years after having left their responsibilities in the Authority.
2010/03/23
Committee: ECON
Amendment 505 #

2009/0143(COD)

Proposal for a regulation
Article 31 – paragraph 1 a (new)
Neither Member States, European Union institutions or bodies, nor any other public or private body shall seek to influence the members of the Management Board.
2010/03/23
Committee: ECON
Amendment 506 #

2009/0143(COD)

Proposal for a regulation
Article 31 – paragraph 1 b (new)
In accordance with the Staff Regulations referred to in Article 54, the members of the Management Board shall, after leaving the service, continue to be bound by the duty to behave with integrity and discretion as regards the acceptance of certain appointments or benefits.
2010/03/23
Committee: ECON
Amendment 510 #

2009/0143(COD)

Proposal for a regulation
Article 32 – paragraph 8
8. The Management Board shall appoint and remove the members of the Board of Appeal in accordance with Article 44(3) and 44(5).deleted
2010/03/23
Committee: ECON
Amendment 516 #

2009/0143(COD)

Proposal for a regulation
Article 34 – paragraph 1 a (new)
1a. In accordance with the Staff Regulations referred to in Article 54, the Chairperson shall, after leaving the service, continue to be bound by the duty to behave with integrity and discretion as regards the acceptance of certain appointments or benefits.
2010/03/23
Committee: ECON
Amendment 521 #

2009/0143(COD)

Proposal for a regulation
Article 37 – paragraph 1 a (new)
1a. The Executive Director should not have worked or provided services to financial institutions during three previous years nor should they do it in the 3 years after having left their responsibilities in the Authority.
2010/03/23
Committee: ECON
Amendment 522 #

2009/0143(COD)

Proposal for a regulation
Article 37 – paragraph 1 b (new)
1b. In accordance with the Staff Regulations referred to in Article 54, the Executive Director shall, after leaving the service, continue to be bound by the duty to behave with integrity and discretion as regards the acceptance of certain appointments or benefits.
2010/03/23
Committee: ECON
Amendment 527 #

2009/0143(COD)

Proposal for a regulation
Article 40 – paragraph 2
2. The Joint Committee shall serve as a forum in which the Authority shall cooperate regularly and closely andwith the European Banking Authority and the European Securities and Markets Authority; it shall also ensure cross- sectoral consistency with the European Banking Authority and the European Securitisupervisory consistency and coordination in particular on: - financial conglomerates; - accounting and auditing; - micro-prudential analyses for financial stability; - retail investment products; - anti-money laundering measures; and Markets Authority- information exchange with the European Systemic Risk Board.
2010/03/23
Committee: ECON
Amendment 538 #

2009/0143(COD)

Proposal for a regulation
Article 44 – paragraph 3 – subparagraph 1
3. Two members of the Board of Appeal and two alternates shall be appointed by the Management Board of the Authority from a short-list proposedEuropean Parliament, two members by the Council and the other two members by the Commission, following a public call for expression of interest published in the Official Journal of the European Union, and after consultation of the Board of Supervisors.
2010/03/23
Committee: ECON
Amendment 542 #

2009/0143(COD)

Proposal for a regulation
Article 44 – paragraph 3 – subparagraph 2
The other Members shall be appointed in accordance with Regulation (EC) No …/…[EBA] and Regulation (EC) No …/…[ESMA].deleted
2010/03/23
Committee: ECON
Amendment 544 #

2009/0143(COD)

Proposal for a regulation
Article 44 – paragraph 5
5. A member of the Board of Appeal, who was appointed by the Management Board of the Authority, may not be removed during his term of office, unless he has been found guilty of serious misconduct, and the Management Boardinstitution who appointed him/her takes a decision to that effect after consulting the Board of Supervisors.
2010/03/23
Committee: ECON
Amendment 547 #

2009/0143(COD)

Proposal for a regulation
Article 47 – paragraph 1 a (new)
1a. Member States and the European Union Institutions, as well as any natural or legal person, may lodge a direct appeal before the Court of Justice against decisions of the Authority, in accordance with Article 263 of the Treaty on the Functioning of the European Union.
2010/03/23
Committee: ECON
Amendment 557 #

2009/0143(COD)

Proposal for a regulation
Article 59 – paragraph 2
2. The Management BoardBoard of Supervisors shall decide on the internal language arrangements for the Authority.
2010/03/23
Committee: ECON
Amendment 563 #

2009/0143(COD)

Proposal for a regulation
Article 62 – paragraph 3 a (new)
3a. The Authority shall be considered the legal successor of the Committee of European Insurance and Occupational Pensions Supervisors. At the latest on the date of establishment of the Authority, all assets and liabilities and all pending operations of the Committee of European Insurance and Occupational Pensions Supervisors will be automatically transferred to the Authority. The Committee of European Insurance and Occupational Pensions Supervisors shall establish a statement showing its closing asset and liability situation as of the date of that transfer, This statement shall be audited and approved by its members and by the Commission.
2010/03/23
Committee: ECON
Amendment 568 #

2009/0143(COD)

Proposal for a regulation
Article 66 – paragraph 1 – subparagraph 2
That report shall also evaluate the progress achievedthat has been made in the achievement of the Authority's objectives and the evolution towards regulatory and supervisory convergence and integration in the fields of crisis management and resolution in the CommunityEuropean Union. Equally, the report shall evaluate how the sector is dealing with the costs derived from its ordinary functioning and how can their full internalisation be achieved taking into account a cyclical perspective. The evaluation shall be based on extensive consultation, including with the Insurance, Reinsurance and Occupational Pension Funds Stakeholder Group.
2010/03/23
Committee: ECON
Amendment 171 #

2009/0142(COD)

Proposal for a regulation
Title
Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL establishing a European Banking AuthoritySupervisory Authority on Banking
2010/03/26
Committee: ECON
Amendment 172 #

2009/0142(COD)

Proposal for a regulation
Recital 1
(1) The financial crisis in 2007/2008 exposed important shortcomings in financial supervision, both in particular cases and in relation to the financial system as a whole. Nationally-based supervisory models have lagged behind the financial globalisation and the integrated and interconnected reality of European financial markets, in which many financial firms operate across borders. The crisis exposed shortcomings in the area of cooperation, coordination, consistent application of CommunityEU law and trust between national supervisors.
2010/03/26
Committee: ECON
Amendment 173 #

2009/0142(COD)

Proposal for a regulation
Recital 1 a (new)
(1a) Already long before the financial crisis the European Parliament had been calling regularly for the reinforcement of a true level playing-field for all actors at the European level while pointing out important failures in Europe’s supervision of ever more integrated financial markets (in its resolutions of 13 April 2000 on the Commission communication on implementing the framework for financial markets: Action Plan1, of 25 November 2002 on prudential supervision rules in the European Union2, of 11 July 2007 on financial services policy (2005–2010) – White Paper3, of 23 September 2008 with recommendations to the Commission on hedge funds and private equity4, of 9 October 2008 with recommendations to the Commission on Lamfalussy follow-up: future structure of supervision5, of 22 April 2009 on the amended proposal for a directive of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II)6 and of 23 April 2009 on the proposal for a regulation of the European parliament and of the Council on Credit Rating Agencies7). ___________ 1 OJ C 40, 7.2.2001, p. 453. 2 OJ C 25 E, 29.1.2004, p. 394. 3 OJ C 175 E, 10.7.2008, p. xx. 4 OJ C 8 E, 14.1.2010, p. 26. 5 OJ C 9 E, 15.1.2010, p. 48. 6 Texts adopted, P6_TA(2009)0251. 7 Texts adopted, P6_TA(2009)0279.
2010/03/26
Committee: ECON
Amendment 174 #

2009/0142(COD)

Proposal for a regulation
Recital 3 a (new)
(3a) On the 2nd of April, 2009, the G-20 leaders in the Leaders’ statement ‘The Global Plan for Recovery and Reform’ declared that “We will take action to build a stronger, more globally consistent, supervisory and regulatory framework for the future financial sector, which will support sustainable global growth and serve the needs of business and citizens”.
2010/03/26
Committee: ECON
Amendment 175 #

2009/0142(COD)

Proposal for a regulation
Recital 5
(5) The financial and economic crisis has created real and serious risks to the stability of the financial system and of the internal market. Restoring and maintaining a stable and reliable financial system, at global and European levels, is an absolute prerequisite to preserving trust and coherence in the internal market, hence to preserve and improve the conditions for the establishment of a fully integrated and functioning internal market in the field of financial services. Moreover, deeper and more integrated financial markets offer better opportunities for financing and risk diversification, and thus help to improve the capacity of the economies to absorb shocks.
2010/03/26
Committee: ECON
Amendment 176 #

2009/0142(COD)

Proposal for a regulation
Recital 7
(7) The European System of Financial Supervisorsion (ESFS) should be an integrated network of national and CommunityEuropean supervisory authorities, leaving ordinary day-to-day supervision of financial institutions at the national levelcompetent authorities of Member States, and according a central role in the supervision of cross-border groups to colleges of supervisors. Greater harmonisation and theconsistent and coherent application of ruleEuropean rules and standards for financial institutions and markets across the CommunityEuropean should also be achieved. A European Banking AuthoritySupervisory Authority on Banking should be established, along with a European Supervisory Authority on Insurance and Occupational Pensions Authority and a European Securities and Markets Authority (the European Supervisory Authorities). and a European Supervisory Authority on Securities and Markets (the European Supervisory Authorities) as well as a Joint Committee among them. The European Systemic Risk Board, as European Authority in macro supervision, completes the ESFS. The Authority shall evolve according to the best practices recognised at European and international level. One such approach could be the establishment of a new level of direct supervision by the Authority. To avoid international distortions and to strengthen the European System of Financial Supervision, the introduction of direct supervision should be carefully evaluated and considered in order to add value to the supervision of large financial institutions, many of which are global in nature and operate in the EU. This applies above all to those large financial institutions with wholesale banking or other activities that could pose systemic risk to the internal market, and those systemic financial institutions defined and identified at an international level. This issue shall be further studied in the first revision of the present Regulation, as set out in Article 66, which should take place not later than three years from its entry into force.
2010/03/26
Committee: ECON
Amendment 179 #

2009/0142(COD)

Proposal for a regulation
Recital 9
(9) The European Banking Authority (“the Authority”) should acAuthority should promote financial sustainability and a strong European financial market with a view to improving the functioning and competitiveness of the internal market, including in particular by ensur on the basis of financial inclusion and a level playing field, preventing and correcting systemic and cross border risks and including a high, effective and consistent European level of regulation and supervision taking account of the varying interests of all Member States, to protect depositors and investors,; to prevent regulatory arbitrage and guarantee a level playing field; to protect depositors and investors and other stakeholders as well as public finances; to ensure the integrity, efficiency, transparency and orderly functioning of financial markets, to safeguard the stability of the financial system, and to strengthen international supervisory coordination, for the benefit of the economy at large, including financial institutions and other stakeholders, consumers and employe and its sustainable interaction with real economy, to reduce the procyclicality of finance and safeguard the stability of the financial system, to foster a smooth implementation of monetary policy in the markets and ensuring the traceability of credit, to achieve the goals of the UEM and to strengthen international supervisory coordination, for the benefit of the economy at large, including financial institutions and other stakeholders, consumers and employees. Its tasks also include promoting supervisory integration and convergence towards best practices and providing advice to the EU institutions in the areas of banking, payments, e-money regulation and supervision, and related corporate governance, auditing and financial reporting issues. In order to be able to fulfil its objectives, it is necessary and appropriate that the Authority should be a CommunityEuropean body having legal personality and it should have legal, administrative and financial autonomy.
2010/03/26
Committee: ECON
Amendment 182 #

2009/0142(COD)

Proposal for a regulation
Recital 9 a (new)
(9a) A strong banking supervision at EU Level must cover all internationally recognised core supervisory principles. The first principle of the “List of Core Principles for Effective Banking Supervision” adopted by the Basle Committee on Banking Supervision states that a precondition for Effective Banking Supervision is that supervisors need “powers to address compliance with laws as well as safety and soundness concerns”. Therefore, it is necessary to identify and to define clearly the main concerns on safety and soundness of the banking system at EU level, that is, systemic risk (as a global risk) and cross border risk (as a European risk).
2010/03/26
Committee: ECON
Amendment 183 #

2009/0142(COD)

Proposal for a regulation
Recital 9 b (new)
(9b) The Regulation takes in the definition of systemic risk elaborated jointly by the International Monetary Fund, the Bank for International Settlements and the Financial Stability Board and adopted the 28 of October of 2009 within the Report to G 20 Finance Ministers and Governors responding to the request made by the G20 Leaders in April 2009. The Report defines systemic risk as “a risk of disruption to financial services that is (i) caused by an impairment of all or parts of the financial system and (ii) has the potential to have serious negative consequences for the real economy. Fundamental to the definition is the notion of negative externalities from a disruption or failure in a financial institution, market or instrument. All types of financial intermediaries, markets and infrastructure can potentially be systematically important to some degree”.
2010/03/26
Committee: ECON
Amendment 184 #

2009/0142(COD)

Proposal for a regulation
Recital 9 c (new)
(9c) The definition of cross border risk includes all risks caused by economic unbalances or financial failures in all or parts of the European Union that have the potential to have significant negative consequences for the transactions between economic operators of two or more Member States, for the functioning of the internal market or for the public finances of the EU or any of its Member States. All types of economic and financial risks can potentially be cross border relevant to some degree.
2010/03/26
Committee: ECON
Amendment 185 #

2009/0142(COD)

Proposal for a regulation
Recital 12 a (new)
(12a) Given the horizontal nature of Directive 2005/60/EC, this Regulation does not prejudice the existing institutional framework of Member States with regard to anti-money laundering and combating of financing of terrorism. When taking action in the context of Directive 2005/60/EC, the Authority shall take into account the existing framework and cooperate, as appropriate, with other relevant bodies.
2010/03/26
Committee: ECON
Amendment 187 #

2009/0142(COD)

Proposal for a regulation
Recital 13 a (new)
(13a) In order to achieve the objectives of the Authority and to ensure a consistent and effective supervision at European level, the authorities in the Member States, insofar competent authorities and members of the Authority, should be granted with a number of powers to adopt preventing and correcting supervisory measures while facilitating joint, coordinated and integrated action. These powers shall be exercised in a proportionate way, and include the capacity to demand and receive adequate information; impose reporting and disclosure requirements; carry out on site inspections; adopt prudential measures (including those affecting conflicts of interest, good governance, liquidity, provisions, dividends and remuneration policies); split or segregate retail banking activities from trading and other non utility activities in case of relevant risk assessed following common criteria; restrict or forbid temporarily certain products or types of transactions that may cause directly or indirectly excessive volatility in the markets or cause perturbations; order financial institutions to operate through a subsidiary in justified cases according to common criteria; impose dissuasive fines; disqualify managers and Directors; remove executives or the Board of Directors; intervene temporally in financial institutions; withdraw the benefits of limited liability to significant shareholders of financial institutions when they are passive in defending the corporate interest in critical cases; extend financial liability to those involved in severe infringements; custody, when appropriate, declarations to ensure integrity and liability; request contingency plans; cancel licenses and withdraw passports; and agree on protocols to articulate a common and effective response.
2010/03/26
Committee: ECON
Amendment 188 #

2009/0142(COD)

Proposal for a regulation
Recital 13 b (new)
(13b) The Single Rule Book is essential to ensure consistent harmonisation and uniform application of legislation, regulation and standards in financial services. The Regulatory and Supervisory Standards developing the Single Rule Book must avoid regulatory arbitrage while ensuring a level playing field and an adequate protection of depositors, investors and consumers across Europe. The Single Rule Book shall detail definitions, specify common elements for reporting and disclosure requirements, and provide the necessary elements in order to ensure effective cooperation processes, including supervisory risk assessment and information sharing as requested by European legislation. In the development of the present Regulation, the Single Rule Book shall define appropriate regulatory and supervisory standards to deal with the early warnings and recommendations of the ESRB and to deal with the cross border risks identified by the Authority or the European institutions concerning either all or a significant part of the European Union. Furthermore, the Single Rule Book shall define appropriate regulatory and supervisory standards regarding reporting, disclosure and prudential requirements for relevant high leveraged companies and investment vehicles operating throughout the EU in order to prevent systemic and correct cross border risks.
2010/03/26
Committee: ECON
Amendment 190 #

2009/0142(COD)

Proposal for a regulation
Recital 14
(14) There is a need to introduce an effective instrument to establish harmonised technical standards in financial services to ensure, also through a single rulebook, a level playing field and an adequate protection of depositors, investors and consumers across Europe. As a body with highly specialised expertise, it is efficient and appropriate to entrust the Authority, in aAs a body with highly specialised expertise, it is efficient and appropriate to entrust the Authority, in level 2 Lamfalussy regulations (in areas defined by European law or at request of the Commission) and in level 3 Lamfalussy supervisory measureas defined by Community law(following its own initiative), with the elaboration of draft technical standards, which do not involve policy choices. The Commission should endorse those draft technical standards in accordance with Community law in order to give them binding legal effect and must respect the principle of proportionality. The draft technical standards have to be adopted by the Commission. They w as Regulatory Standards could be subject to amendment if, for example,by the Commission. In the case of Supervisory Standards, the Commission shall endorse those draft technical standards were incompatible with Community Law, would not respect the principle of proportionality or would run counter to the fundamental principles of the internal market for financial services as reflected hen they are in accordance with European law in order to give them binding legal effect. The Commission is empowered to adopt Regulatory Standards in financial services as Delegated Acts in accordance with the Article 290 of the Treaty on the Functioning of the European Union. The Supervisory Standards should be endorsed as Implementing Acts in accordance with a procedure following the acquis of Community financial services legislatArticle 291 of the Treaty on the Functioning of the European Union. To ensure a smooth and expedited adoption process for those standards, the Commission shcould be subject to a time limit for both its resolution on adoption or for its decision on the endorsement.
2010/03/26
Committee: ECON
Amendment 196 #

2009/0142(COD)

Proposal for a regulation
Recital 15
(15) The process for the development of technical standards in this regulation is without prejudice to the Commission’s powers to adopt on its own initiative implementing measures under comitology procedures at level 2 of the Lamfalussy structure as laid out in the relevant Community legislation. The matters concerned by the technical standards do not involve policy decisions, and their content is framed by the Community acts adopted at Level 1. Development of the draft standards by the Authority ensures that they fully benefit from the specialised expertise of national supervisory authorities.deleted
2010/03/26
Committee: ECON
Amendment 199 #

2009/0142(COD)

Proposal for a regulation
Recital 16
(16) In areas not covered by technicalRegulatory or Supervisory standards, the Authority should have the power to issue non-binding guidelines and recommendations on the application of CommunityEU legislation to promote best practices. In order to ensure transparency and strengthen compliance by national supervisory authorities and financial institutions with those guidelines and recommendations, national authorities should be obliged to state their reasons where they do not comply with those guidelines and recommendations and the financial institutions should be obligated to report if they comply with these guidelines and recommendations when reporting.
2010/03/26
Committee: ECON
Amendment 202 #

2009/0142(COD)

Proposal for a regulation
Recital 17
(17) Ensuring the correct and full application of CommunityEuropean law is a core prerequisite for the integrity, transparency, efficiency and orderly functioning of financial markets, the stability of the financial system, and for neutral conditions of competition for financial institutions in the CommunityEU. A mechanism should therefore be established whereby the Authority addresses instances of incorrect or insufficient application of CommunityEuropean law. This mechanism should apply in areas where CommunityEuropean legislation defines clear and unconditional obligations
2010/03/26
Committee: ECON
Amendment 210 #

2009/0142(COD)

Proposal for a regulation
Recital 21
(21) Serious threats to the orderly functioning and integrity of financial markets or the stability of the financial system in the CommunityUnion require a swift and concerted response at CommunityUnion level. The Authority should therefore be able to require national supervisory authorities to take specific actions to remedy an emergency situation. As the deThe European Systermination of an emergency situation involves a significant degree of discretion, this power should be conferred on the Commissionc Risk Board should establish when there is an emergency situation; the Commission or the Council can also adopt a decision determining the existence of such a situation or other justified circumstances which demand the same reinforced institutional response. To ensure an effective response to the emergency situation, in the event of inaction by the competent national supervisory authorities, the Authority should be empowered to adopt, as a last resort, decisions directly addressed to financial institutions in areas of CommunityUnion law directly applicable to them aimed at mitigating the effects of the crisis and restoring confidence in the markets.
2010/03/26
Committee: ECON
Amendment 213 #

2009/0142(COD)

Proposal for a regulation
Recital 21 a (new)
(21a) Having regarded the Declaration on Strengthening the financial system of the summit of G-20 Leader’s held in London, 2nd April 2009 calling to “set guidelines for, and support the establishment, functioning of, and participation in, supervisory colleges, including through ongoing identification of the most systemically important cross-border firms”.
2010/03/26
Committee: ECON
Amendment 218 #

2009/0142(COD)

Proposal for a regulation
Recital 22
(22) In order to ensure efficient and effective supervision and a balanced consideration of the positions of the competent authorities in different Member States, the Authority should be able to settle disagreements between those competent authorities with binding effect, including within colleges of supervisors. A conciliation phase should be provided for, during which the competent authorities may reach an agreement. The Authority’s competence should cover disagreements on procedural obligations in the cooperation process as well as on the interpretation and application of CommunityEuropean law in supervisory decisions; compliance with binding decisions adopted does not prevent the exercise of additional prudential discretion by the competent authority in conformity with international principles on cross-border supervision. Existing conciliation mechanisms provided for in sectoral legislation have to be respected. In the event of inaction by the national supervisory authorities concerned, the Authority should be empowered to adopt, as a last resort, decisions directly addressed to financial institutions in areas of CommunityEuropean law directly applicable to them.
2010/03/26
Committee: ECON
Amendment 220 #

2009/0142(COD)

Proposal for a regulation
Recital 22 a (new)
(22a) The crisis has exposed major fault lines in existing approaches to supervision of cross-border financial institutions, particularly the biggest and most complex institutions the bankruptcy of which is capable of producing systemic damages. Those fault lines arise from the different areas of activity of the financial institutions and from the supervisory bodies on the other. The former act in a market without borders, the latter check on a daily basis whether their jurisdictions end at national borders. In order to address such misalignments it is necessary to foster more supervisory convergence and integration within the European Union and at international level.
2010/03/26
Committee: ECON
Amendment 222 #

2009/0142(COD)

Proposal for a regulation
Recital 22 b (new)
(22b) According to the Turner Review, published in March 2009, “existing single market rules can create unacceptable risks to depositors and taxpayers” and “the current arrangements, combining branch passporting rights, home country supervision, and purely national deposit insurance, are not sound basis for the future regulation and supervision of European cross-border retail banks”.
2010/03/26
Committee: ECON
Amendment 223 #

2009/0142(COD)

Proposal for a regulation
Recital 22 c (new)
(22c) As the Turner review also states, “sounder arrangements require either increased national powers, implying a less open single market, or a greater degree of European integration. A mix of both seems appropriate: the extent to which more national powers are required will depend on how effective ‘more Europe’ options can be”.
2010/03/26
Committee: ECON
Amendment 224 #

2009/0142(COD)

Proposal for a regulation
Recital 22 d (new)
(22d) The European solution calls for the creation of a new European Union institutional structure, an independent Authority with legal powers, a standard setter and overseer in the area of cross border supervision, the reinforcement of the colleges of supervisors in the supervision of cross-border institutions and for a coherent and increased empowerment of supervisory powers at both national and EU level.
2010/03/26
Committee: ECON
Amendment 225 #

2009/0142(COD)

Proposal for a regulation
Recital 22 e (new)
(22 e) The Authority should have the power to develop supervisory standards to foster the uniform application of the Single Rule Book. The Authority should also have a key role as sectoral coordinator and consultative body for the Colleges of Supervisors with a view to streamlining the functioning of the information-exchange process, to foster convergence and consistency across colleges in the application of EU law. The Authority should act as leader coordinator in supervising banking institutions operating in the European Union. The Authority should also have a legally binding mediation role to solve conflicts between competent supervisors.
2010/03/26
Committee: ECON
Amendment 226 #

2009/0142(COD)

Proposal for a regulation
Recital 22 f (new)
(22f) Colleges of supervisors should play an important role in the efficient, effective and consistent supervision of cross-border financial institutions in EU. There is little usefulness in working towards the convergence of basic financial regulations if the supervision practices remain fragmented. As the de Larosière Report points out, “competition distortions and regulatory arbitrage stemming from different supervisory practices must be avoided, because they have the potential of undermining financial stability – inter alia by encouraging a shift of financial activity to countries with lax supervision. The supervisory system has to be perceived as fair and balanced”.
2010/03/26
Committee: ECON
Amendment 231 #

2009/0142(COD)

Proposal for a regulation
Recital 23 a (new)
(23a) A report to be submitted to the European Parliament and to the Council by the Commission should analyse, under a procyclical perspective, the internalisation of cost in the financial system. All related issues such as set-offs and counterclaims; dynamic provisions; the determination of contributions to schemes; the scope of products and depositors covered; the effectiveness of cross-border deposit-guarantee schemes and the link between deposit guarantee schemes and alternative means for reimbursing depositors, such as emergency payout mechanisms and a European Financial Protection Fund, should also be analysed. For the purpose of that report, Member States should collect the relevant data and submit them to the Commission on request.
2010/03/26
Committee: ECON
Amendment 236 #

2009/0142(COD)

Proposal for a regulation
Recital 27
(27) The Authority should actively promote a coordinated CommunityUnion supervisory response, in particular where adverse developments could potentially jeopardisto ensure the orderly functioning and integrity of financial markets or the stability of the financial system in the CommunityUnion. In addition to its powers for action in emergency situations, it should therefore be entrusted with a general coordination function within the European System of Financial SupervisorsSFS. The smooth flow of all relevant information between competent authorities should be a particular focus of the Authority’s actions.
2010/03/26
Committee: ECON
Amendment 239 #

2009/0142(COD)

Proposal for a regulation
Recital 29
(29) Given the globalisation of financial services and the increased importance of international standards, the Authority should fosterrepresent the European Union in the dialogue and cooperation with supervisors outside the Community. It shall fully respect the existing roles and competences of the European Institutions in relations with authorities outside the Community and in international forumsUnion. National competent authorities may continue to contribute to such fora as pertain to national issues and issues relevant for their own functions and competences under EU law.
2010/03/26
Committee: ECON
Amendment 254 #

2009/0142(COD)

Proposal for a regulation
Recital 34
(34) Member States have a core responsibility in preserving financial stability in crisis management, in particular with regard to stabilising and resolving individual ailing financial institutions. They shall act closely coordinated within the framework and the principles of the EMU. Measures by the Authority in emergency or settlement situations affecting the stability of a financial institution should not impinge on the fiscal responsibilities of Member States. A mechanism should be established whereby Member States may invoke this safeguard and ultimately bring the matter before the Council for a decision. It is appropriate to confer on the Council a role in this matter given the particular responsibilities of the Member States in this respect.
2010/03/26
Committee: ECON
Amendment 259 #

2009/0142(COD)

Proposal for a regulation
Recital 38
(38) A full time Chairperson, selected by the Board of Supervisors through an open competitEuropean Parliament following an open competition managed by the Commission and the subsequent drawing up of a short list for the Commission, should represent the Authority. The management of the Authority should be entrusted to an Executive Director, who should have the right to participate in meetings of the Board of Supervisors and the Management Board without the right to vote.
2010/03/26
Committee: ECON
Amendment 269 #

2009/0142(COD)

Proposal for a regulation
Article 1 – paragraph 1
1. This Regulation establishes a European Banking AuthoritySupervisory Authority on Banking ("the Authority").
2010/03/26
Committee: ECON
Amendment 271 #

2009/0142(COD)

Proposal for a regulation
Article 1 – paragraph 2
2. The Authority shall act within the scope of this Regulation as well as Directive 2006/48/EC, Directive 2006/49/EC, Directive 2002/87/EC, Directive 2005/60/EC, Directive 2002/65/EC and Directive 94/19/EC, including all directives, regulations, and decisions based on these acts, and of any further CommunityEU act which confers tasks on the Authority.
2010/03/26
Committee: ECON
Amendment 274 #

2009/0142(COD)

Proposal for a regulation
Article 1 – paragraph 2 a (new)
2a. The Authority shall also act in the field of activities of credit institutions, financial conglomerates, investment firms, payment institutions and e-money institutions, including matters of corporate governance, auditing and financial reporting, provided that such actions by the Authority are necessary to effectively ensure the consistent harmonisation of the legislation referred to in paragraph 2 and its uniform application as well of that of subsequent legally binding acts.
2010/03/26
Committee: ECON
Amendment 275 #

2009/0142(COD)

Proposal for a regulation
Article 1 – paragraph 3
3. The provisions of this Regulation are without prejudice to the powers of the Commission, in particular under Article 22658 of the Treaty on the Functioning of the European Union to ensure compliance with CommunityEU law.
2010/03/26
Committee: ECON
Amendment 276 #

2009/0142(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be toAuthority shall promote financial sustainability and a strong European financial market with the objective of contributeing to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting depositors and investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the Community law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/26
Committee: ECON
Amendment 277 #

2009/0142(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning and competitiveness of the internal market on the basis of financial inclusion and a level playing field, preventing and correcting systemic and cross-border risk, and, including in particular a high, effective and, consistent and European level of regulation and supervision, (ii) protecting depositors and investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the Community law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/26
Committee: ECON
Amendment 279 #

2009/0142(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting depositors and investors and other stakeholders as well as public finances, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the Community law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/26
Committee: ECON
Amendment 280 #

2009/0142(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting depositors and investors, (iii) ensuring the integrity, transparency, efficiency and orderly functioning of financial markets and its sustainable interaction with real economy, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the Community law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/26
Committee: ECON
Amendment 281 #

2009/0142(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting depositors and investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding thereducing the procyclicality of finance and, in general, safeguarding the short-, medium- and long-term stability of the financial system, and (v) strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the Community law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/26
Committee: ECON
Amendment 282 #

2009/0142(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting depositors and investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) fostering a smooth implementation of monetary policy in the markets and ensuring the traceability of credit as well as the control on banking deposits and institutional funds, strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the Community law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/26
Committee: ECON
Amendment 286 #

2009/0142(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting depositors and investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v)i) achieving the goals of the UEM and strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the Community law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/26
Committee: ECON
Amendment 293 #

2009/0142(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting depositors and investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, (v) and (vii) strengthening international supervisory coordination and cooperation, enhancing global competitiveness and supporting the financial development of the less advanced economies. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the Community law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/26
Committee: ECON
Amendment 294 #

2009/0142(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting depositors and investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective harmonisation and application of the CommunityEuropean Union law referred to in Article 1(2) above, fostering supervisory integration and convergence and providing opinions to the European Parliament, the Council, and the Commission, and undertaking economic analyses of markets to promote the achievement of the Authority’s objectives.
2010/03/26
Committee: ECON
Amendment 301 #

2009/0142(COD)

Proposal for a regulation
Article 1 a (new)
Article 1a The European System of Financial Supervision 1. The Authority shall form part of a European System of Financial Supervision, hereinafter referred to as 'ESFS', which shall function as an integrated network of supervisors that brings together all the authorities in the Member States and in the European Union with competences in the field of financial supervision as referred in the present and related EU regulations. The main objective of which is to ensure a strong and consistent European supervision for financial institutions which will bring confidence into the financial system, support sustainable European growth and serve the needs of business and citizens. 2. The ESFS shall comprise the following: (a) the European Systemic Risk Board; (b) the European Supervisory Authority (Securities and Markets) established by Regulation (EU) No .../... [ESMA]; (c) the European Supervisory Authority (Insurance and Occupational Pensions) established by Regulation (EU) No …/…[EIOPA]; (d) the Authority; (e) the Joint Committee of European Supervisory Authorities (JCESA) provided for in Article 40; (f) the authorities in the Member States referred to in Article 1(2) of Regulations (EC) No .../... [ESMA], Regulation (EC) No …/2009 [EIOPA] and Regulation (EC) No …/… [EBA; (g) the Commission, for the purposes of carrying out the tasks referred to in Articles 7 and 9. 3. All the parties of the ESFS Supervision shall cooperate closely among them with trust and full mutual respect, pursuant to the principle of sincere cooperation in accordance with Article 4(3) of the EU Treaty. 4. All financial institutions are subject to legally binding Acts under European law and to the supervision of the competent authorities part of the ESFS. 5. The ESFS does not prevent competent authorities from the exercise of national supervisory powers in conformity with European legally binding acts and according to the international prudential principles on banking supervision. 6. Only those supervisory authorities included in the European System of Financial Supervisor shall be entitled to supervise financial institutions in the European Union.
2010/03/26
Committee: ECON
Amendment 304 #

2009/0142(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 1
(1) 'financial institutions' means 'credit institutions' as defined in Directive 2006/48/EC, 'investment firms' as defined in Directive 2006/49/EC, and 'financial conglomerates' as defined in Directive 2002/87/EC and in general all kinds of undertakings and entities subject to any of the legislative acts mentioned in Article 1(2);
2010/03/26
Committee: ECON
Amendment 306 #

2009/0142(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 2
(2) 'competent authorities' means competent authorities for credit and financial institutions as defined in Directives 2006/48/EC and, 2006/49/EC, 2007/64/EC, 2009/110/EC, 2002/65/EC, 2005/60/EC, and, where deposit guarantee schemes are concerned, public bodies which administer deposit- guarantee schemes or, when administered by a private company, the public authority supervising the scheme, pursuant to Directive 94/19/EC.
2010/03/26
Committee: ECON
Amendment 308 #

2009/0142(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 2a (new)
(2a) Systemic risk is a risk of disruption to financial services that is caused by an important impairment of all or parts of the financial system and has the potential to have serious negative consequences for the real economy. All types of financial institutions and intermediaries, markets, infrastructures and instruments can potentially be systemically important to some degree.
2010/03/26
Committee: ECON
Amendment 309 #

2009/0142(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 2b (new)
(2b) Cross border risk is a risk caused by economic imbalances or financial failures in all or parts of the European Union that have the potential to have significant negative consequences for the transactions between economic operators of two or more Member States, for the functioning of the internal market, or for the public finances of the EU or any of its Member States. All types of economic and financial risks can potentially be cross border relevant to some degree.
2010/03/26
Committee: ECON
Amendment 310 #

2009/0142(COD)

Proposal for a regulation
Article 3 – paragraph 1
1. The Authority shall be a CommunityEuropean Union body with legal personality.
2010/03/26
Committee: ECON
Amendment 312 #

2009/0142(COD)

Proposal for a regulation
Article 3 – paragraph 3 a (new)
3a. National supervisory authorities shall act, as members of the Authority, with a European dimension.
2010/03/26
Committee: ECON
Amendment 316 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 1 – introductory part
1. TIn order to ensure a effective and consistent European supervision of financial institutions the Authority shall have the following tasks:
2010/03/26
Committee: ECON
Amendment 317 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point a
(a) contribute to the establishment of high- quality common regulatory and supervisory standards and practices, in particular by providing opinions to the CommunityEuropean Union institutions and by developing guidelines, recommendations, and draft technical standards which shall be based on the present Regulation and the legislation referred to in Article 1(2);
2010/03/26
Committee: ECON
Amendment 319 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point b
(b) contribute to a consistent application of Communitystandards and EU legislation, in particular by contributing to a common supervisory culture, ensuring consistent, efficient and effective application of the present Regulation and the legislation referred to in Article 1(2), preventing regulatory arbitrage, mediating and settling disagreements between competent authorities, promotensuring a coherent functioning of colleges of supervisors and taking actions, inter alia, in emergency situations;
2010/03/26
Committee: ECON
Amendment 322 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point c
(c) encourage and facilitate the delegation of tasks and responsibilities between competent authorities;
2010/03/26
Committee: ECON
Amendment 325 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point e
(e) organise and conduct peer review analysis of competent authorities, to strengthen consistency in supervisory outcomes;
2010/03/26
Committee: ECON
Amendment 327 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point f a (new)
(fa) assess, in particular, the accessibility, availability and credit cost for households and enterprises, especially SMEs;
2010/03/26
Committee: ECON
Amendment 328 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point f b (new)
(fb) undertake economic analyses of markets, risks and relevant highly leveraged companies to inform the discharge of the Authority's functions;
2010/03/26
Committee: ECON
Amendment 329 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point f c (new)
(fc) foster investor and saver protection;
2010/03/26
Committee: ECON
Amendment 330 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point g
(g) fulfil any other specific tasks set out in this Regulation or in the CommunityEuropean Union legislation referred to in Article 1(2).
2010/03/26
Committee: ECON
Amendment 332 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point g a (new)
(ga) take over, as appropriate, all existing tasks from the Committee of European Banking Supervisors;
2010/03/26
Committee: ECON
Amendment 333 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point g b (new)
(gb) publish and regularly update information relating to its field of activities on its website, in order to ensure easily accessible information to the public.
2010/03/26
Committee: ECON
Amendment 335 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 2 – point d
(d) take individual or collective decisions addressed to competent authorities in the specific cases referred to in Articles 10 and 11;
2010/03/26
Committee: ECON
Amendment 337 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 2 – point e
(e) take individual or collective decisions addressed to financial institutions, in the specific cases referred to in Article 9(6), Article 10(3), and Article 11(4);
2010/03/26
Committee: ECON
Amendment 342 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 2 – point f a (new)
(fa) promote coordinated action between competent authorities, as specified in Article 16, including the activation of their powers as members of the Authority to achieve a common EU response to deal with systemic and cross border risks;
2010/03/26
Committee: ECON
Amendment 347 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 3 – subparagraph 1
3. The Authority shall execute any exclusive European supervisory powers over entities with CommunityEuropean-wide reach or economic activities with CommunityEuropean-wide reach entrusted to it in the legislation referred to in Article 1(2).
2010/03/26
Committee: ECON
Amendment 350 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 3 – subparagraph 2
For that purpose, the Authority shall have appropriate European powers of investigation and enforcement as specified in the relevant legislation, as well as the possibility of charging fees.
2010/03/26
Committee: ECON
Amendment 351 #

2009/0142(COD)

Proposal for a regulation
Article 6 a (new)
Article 6 a Powers of the authorities in the Member States insofar competent authorities and members of the Authority In order to achieve the objectives of the Authority, authorities in the Member States insofar competent authorities and members of the Authority, shall have powers to adopt preventing and correcting supervisory measures. These powers, related to financial institutions and exercised in a proportionate way, include the capacity to: (a) Demand and receive adequate information; (b) impose reporting and disclosure requirements; (c) carry out on site inspections. (d) adopt prudential measures (including those affecting conflicts of interest, good governance, liquidity, provisions, dividends and remuneration policies); (e) split or segregate retail banking activities from trading and other non utility activities in case of relevant risk assessed following common criteria; (f) restrict or forbid temporarily certain products or types of transactions that may cause directly or indirectly excessive volatility in the markets or perturb all of part of the European financial system, public finances or real economy; (g) order financial institutions to operate through a subsidiary in case of relevant internal risk assessed according to common criteria; (h) impose dissuasive fines; (i) disqualify managers and Directors; (j) remove executives or the Board of Directors; (k) intervene temporally in financial institutions; (l) withdraw the benefits of limited liability to significant shareholders of financial institutions when they are passive in defending the corporate interest in cases such as lack of transparency, fearlessly lending or borrowing, or serious and systematic infringement; (m) extend financial liability to managers, Directors or financial institutions that cause or collaborate in serious and systematic infringement or have an inappropriate system of incentives to their services; (n) custody when appropriate declarations of managers and Directors on interest, activities and assets; (o) request the development of a detailed resolution regime, to be updates regularly, comprising a structured early intervention mechanism, prompt corrective actions and a bankruptcy contingency plan; (p) cancel licenses and withdraw passports; (q) agree on protocols to achieve a common response at European level, as fast and automatically as possible, to prevent or correct market perturbations.
2010/03/26
Committee: ECON
Amendment 352 #

2009/0142(COD)

Proposal for a regulation
Article 7 – title
Technical standardshe Single Rule Book
2010/03/26
Committee: ECON
Amendment 353 #

2009/0142(COD)

Proposal for a regulation
Article 7 – paragraph -1 a (new)
-1a. In order to ensure a effective and consistent European supervision of financial institutions, the Commission taking into account international principles accorded by the EU and under the EU legislation, shall adopt Regulatory and endorse Supervisory Standards to achieve a Single Rule Book for the European Financial Supervision by means of Regulations or Decisions.
2010/03/26
Committee: ECON
Amendment 354 #

2009/0142(COD)

Proposal for a regulation
Article 7 – paragraph -1 b (new)
-1b. The Single Rule Book shall: (a) detail definitions contained in European legislation; (b) specify common elements for reporting and disclosure requirements contained in European legislation; (c) provide the necessary elements in order to ensure effective cooperation processes, including supervisory risk assessment and information sharing as requested by European legislation; (d) define appropriate regulatory and supervisory standards to deal with the early warnings and recommendations of the ESRB concerning all or a significant part of the European Union; (e) define appropriate regulatory and supervisory standards to deal with the cross border risks identified by the Authority or the European institutions in all or a significant part of the European Union; (f) define appropriate regulatory and supervisory standards regarding reporting, disclosure and prudential requirements for relevant high leveraged companies and investment vehicles operating throughout the EU to prevent systemic and correct cross border risks.
2010/03/26
Committee: ECON
Amendment 355 #

2009/0142(COD)

Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 1
1. The Authority mayshall develop technical standards in the areas specifically set out in present Regulation and in the legislation referred to in Article 1(2). The Authority shall submit its draft standards to the Commission for endorsement or at the Commission request. Technical standards shall not include policy choices and shall reflect the principle of proportionality. The Authority shall submit its draft standards to the Commission for adoption as Delegated Acts (Regulatory Standards) or endorsement as Implementing Acts (Supervisory Standards) according to the present Regulation and the legislation referred to in Article 1(2). The draft standards shall also be transmitted at the same time to the European Parliament and the Council.
2010/03/26
Committee: ECON
Amendment 361 #

2009/0142(COD)

Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 2
Before submitting them to the Commission, the Authority shall, where appropriate, conduct open public consultations on technical standards and analyse the potential related costs and benefits. with all stakeholders and analyse the potential related costs and benefits, unless such consultations and analyses are disproportionate in relation to the scope and impact of the technical standards concerned or in relation to the particular urgency of the matter. The Authority shall also request an opinion or advice of the Banking Stakeholder Group referred to in Article 22.
2010/03/26
Committee: ECON
Amendment 371 #

2009/0142(COD)

Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 3
Within three months of receipt of the draft technical standards, the Commission shall decide whether to endorse the draft standards. The Commission may extend that period by one month. Tupervisory standards if they comply with European legislation. Within the same period, the Commission may endorseadopt the draft standards only in part or with amendments where the Community interest so requirestechnical standards with amendments where they were drawn up as regulatory standards. In both cases, the Commission may extend that period by one month.
2010/03/26
Committee: ECON
Amendment 378 #

2009/0142(COD)

Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 4
WhereIn any case, the Commission does not endorse the standards or endorses them in part or with amendments, it shall inform the Authority of itsshall inform the Authority, the European Parliament and the Council of its decision, stating the reasons.
2010/03/26
Committee: ECON
Amendment 382 #

2009/0142(COD)

Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 4 a (new)
The Commission shall adopt the Regulatory Standards as Delegated Acts in accordance with Articles 7a to 7d of this Regulation and endorse the Supervisory Standards as Implementing Acts following a procedure pursuant Article 291 of the TFEU.
2010/03/26
Committee: ECON
Amendment 390 #

2009/0142(COD)

Proposal for a regulation
Article 7 – paragraph 2
2. The standards shall be adopted by the Commission by means of Regulations or Decisions and published in the Official Journal of the European UnionHaving completed the due procedure the standards shall be published in the Official Journal of the European Union with the title EU Delegated Standards or EU Implementing Standards respectively.
2010/03/26
Committee: ECON
Amendment 391 #

2009/0142(COD)

Proposal for a regulation
Article 7 – paragraph 2 a (new)
2a. The Single Rule Book shall be updated regularly and shall be adapted to new European legislation.
2010/03/26
Committee: ECON
Amendment 392 #

2009/0142(COD)

Proposal for a regulation
Article 7 – paragraph 2 b (new)
2b. In its annual report the Authority shall set out which national authorities have not complied with the regulatory and supervisory standards.
2010/03/26
Committee: ECON
Amendment 394 #

2009/0142(COD)

Proposal for a regulation
Article 7 a (new)
Article 7a Exercise of the delegation 1. The powers to adopt regulatory standards referred to in Article 7 shall be conferred on the Commission for an indeterminate period of time, unless otherwise specified by sectoral legislation. 2. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 3. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in Articles 7b and 7c.
2010/03/26
Committee: ECON
Amendment 395 #

2009/0142(COD)

Proposal for a regulation
Article 7 b (new)
Article 7b Revocation of the delegation 1. The delegation of power referred to in Article 7 may be revoked by the European Parliament or by the Council. 2. The institution which has commenced an internal procedure for deciding whether to revoke the delegation of power shall endeavour to inform the other institution and the Commission within a reasonable time before the final decision is taken, indicating the delegated powers which could be subject to revocation and the possible reasons for a revocation. 3. The decision of revocation shall take effect immediately or at a later date specified therein. It shall not affect the validity of the delegated acts already in force. It shall be published in the Official Journal of the European Union.
2010/03/26
Committee: ECON
Amendment 397 #

2009/0142(COD)

Proposal for a regulation
Article 7 c (new)
Article 7c Objections to Delegated Acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period may be extended by two months. 2. If on the expiry of that period, neither the European Parliament nor the Council has objected to the delegated act, it shall be published in the Official Journal of the European Union and shall enter into force at the date stated therein. Before the expiry of that period and in exceptional and duly justified cases, the European Parliament and the Council may both inform the Commission that they do not intend to raise objections to a delegated act. In such cases, the delegated act shall be published in the Official journal of the European Union and shall enter into force at the date stated therein. 3. If the European Parliament or the Council objects to a Delegated Act, it shall not enter into force. The institution which objects shall state the reasons for objecting to the delegated act.
2010/03/26
Committee: ECON
Amendment 403 #

2009/0142(COD)

Proposal for a regulation
Article 8 – paragraph 1 a (new)
The Authority shall conduct open public consultations with all stakeholders and analyse the potential related costs and benefits, unless such consultations and analyses are disproportionate in relation to the scope and impact of the guidelines and recommendations concerned or in relation to the particular urgency of the matter. The Authority shall also request an opinion or advice of the Banking Stakeholder Group referred to in Article 22.
2010/03/26
Committee: ECON
Amendment 405 #

2009/0142(COD)

Proposal for a regulation
Article 8 – paragraph 1 b (new)
The guidelines and recommendations shall be published on the website of the Authority.
2010/03/26
Committee: ECON
Amendment 406 #

2009/0142(COD)

Proposal for a regulation
Article 8 – paragraph 2
The competent authorities and financial institutions shall make every effort to comply with those guidelines and recommendations.
2010/03/26
Committee: ECON
Amendment 407 #

2009/0142(COD)

Proposal for a regulation
Article 8 – paragraph 2 a (new)
Within two months of the issuance of a guideline or recommendation, each competent authority shall decide whether intends to comply with that guideline or recommendation. In the event that competent authority does not apply those guidelines or recommendations it shall inform the Authority of its reasons. The Authority may decide, on a case by case basis, to publish such reasons provided by a competent authority.
2010/03/26
Committee: ECON
Amendment 409 #

2009/0142(COD)

Proposal for a regulation
Article 8 – paragraph 2 b (new)
After the issuance, all financial entities shall report yearly, in a clear and detailed way, if they comply with that guideline or recommendation.
2010/03/26
Committee: ECON
Amendment 410 #

2009/0142(COD)

Proposal for a regulation
Article 8 – paragraph 2 c (new)
In its annual report the Authority shall state which national authority has not complied with its issued guidelines and recommendations and outlining how the Authority intends to ensure that they follow its recommendations and guidelines in the future; it shall also include the same information for the main larger financial entities .
2010/03/26
Committee: ECON
Amendment 412 #

2009/0142(COD)

Proposal for a regulation
Article 9 – paragraph 1
1. Where a competent authority has not correctlyapplied or has applied the legally binding Acts and legislation referred to in Article 1(2) in a way which appears to be a breach of European Union law, in particular by failing to ensure that a financial institution satisfies the requirements laid down in that legislation, the Authority shall have the powers set out in paragraphs 2, 3 and 6 of this Article.
2010/04/15
Committee: ECON
Amendment 415 #

2009/0142(COD)

Proposal for a regulation
Article 9 – paragraph 2 – subparagraph 1
2. Upon request from one or more competent authorities, from the Commission the European Parliament, the Council, the Banking Stakeholder Group or on its own initiative and after having informed the competent authority concerned, the Authority may investigate the alleged incorrect breach or non-application of CommunityEuropean Union law.
2010/04/15
Committee: ECON
Amendment 434 #

2009/0142(COD)

Proposal for a regulation
Article 9 – paragraph 6 – subparagraph 1
6. Without prejudice to the powers of the Commission under Article 22658 of the Treaty on the Functioning of the European Union, where a competent authority does not comply with the decision referred to in paragraph 4 of this Article within the period of time specified therein, and where it is necessary to remedy in a timely manner the non compliance by the competent authority in order to maintain or restore neutral conditions of competition in the market or ensure the orderly functioning and integrity of the financial system, the Authority may, where the relevant requirements of the legislation referred to in Article 1(2) are directly applicable to financial institutions, adopt an individual decision addressed to a financial institution requiring the necessary action to comply with its obligations under CommunityEuropean Union law including the cessation of any practice.
2010/04/15
Committee: ECON
Amendment 443 #

2009/0142(COD)

Proposal for a regulation
Article 9 – paragraph 7 a (new)
7a. In its annual report, the Authority shall set out which national authorities and financial institutions have not complied with the decisions referred to in paragraphs 4 and 6.
2010/04/15
Committee: ECON
Amendment 451 #

2009/0142(COD)

Proposal for a regulation
Article 10 – paragraph 1
1. In the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Community, the Commission,European Union, the ESRB upon its own initiative or following a request by the Authority, the Council, or the ESRB, may adopt a decision addressed to the Authority, determinEuropean Parliament or a Member State may issue a warning declaring the existence of an emergency situation for the purposes of this regulation.
2010/04/15
Committee: ECON
Amendment 464 #

2009/0142(COD)

Proposal for a regulation
Article 10 – paragraph 2
2. Where the Commission has adopted a decision pursuant to paragraph 1, the Authority may adopt individual decisions requiring competent authorities to take the necessary actESRB has issued a warning pursuant to paragraph 1, or when the Commission or the Council, upon its own initiative or following a request by the Authority, the European Parliament or a Member State, adopts a decision determining the existence of similar or justified circumstances where co- ordinated action by national authorities is necessary to respond to adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the European Union; the Authority may adopt, without further requirements, individual decisions in accordance with the legislation referred to in Article 1(2) to address any risks that may jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system by ensuring that financial institutions and competent authorities satisfy the requirements laid down in that legislation.
2010/04/15
Committee: ECON
Amendment 487 #

2009/0142(COD)

Proposal for a regulation
Article 10 – paragraph 4 a (new)
4a. In its annual report, the Authority shall set out the individual decisions addressed to national authorities and financial institutions under paragraphs 3 and 4.
2010/04/15
Committee: ECON
Amendment 500 #

2009/0142(COD)

Proposal for a regulation
Article 11 – paragraph 4 a (new)
4a. In its annual report, the Authority shall set out the disagreement between competent authorities, the agreements reached and the decision taken to settle such disagreements.
2010/04/15
Committee: ECON
Amendment 508 #

2009/0142(COD)

Proposal for a regulation
Article 12 a (new)
Article 12 a Evolution of the Authority The Authority shall evolve according to the best practices recognised at European and international level. One such approach could be the establishment of a new level of direct supervision by the Authority. To avoid international distortions and to strengthen the European System of Financial Supervision, the introduction of direct supervision should be carefully evaluated and considered in order to add value to the supervision of large financial institutions, many of which are global in nature and operate in the EU. This applies above all to those large financial institutions with wholesale banking or other activities that could pose systemic risk to the internal market, and those systemic financial institutions defined and identified at an international level. This issue shall be further studied in the first revision of the present Regulation, as set out in Article 66, which should take place not later than three years from its entry into force.
2010/04/15
Committee: ECON
Amendment 511 #

2009/0142(COD)

Proposal for a regulation
Article 13 – paragraph 1
1. Competent authorities may, by bilateral agreementagreements among them, delegate tasks and responsibilities to other competent authorities supervisory.
2010/04/15
Committee: ECON
Amendment 512 #

2009/0142(COD)

Proposal for a regulation
Article 13 – paragraph 2
2. The Authority shall facilitate the delegation of tasks and responsibilities between competent authorities by identifying those tasks and responsibilities that can be delegated or jointly exercised and, by promoting best practices and by preparing appropriate multilateral frameworks.
2010/04/15
Committee: ECON
Amendment 517 #

2009/0142(COD)

Proposal for a regulation
Article 14 – paragraph 1 – introductory part
1. The Authority shall play an active role in building a common European supervisory culture and consistent supervisory practices, and ensuring uniform procedures and consistent approaches throughout the CommunityEuropean Union and shall carry out, at a minimum, the following activities:
2010/04/15
Committee: ECON
Amendment 524 #

2009/0142(COD)

Proposal for a regulation
Article 14 – paragraph 1 – point d
(d) review the application of the relevant technical standards adopted or endorsed by the Commission, guidelines and recommendations issued by the Authority and propose amendments where appropriate;
2010/04/15
Committee: ECON
Amendment 526 #

2009/0142(COD)

Proposal for a regulation
Article 15 – paragraph 2 – point a
(a) the adequacy of institutional arrangements, resourcinges and staff expertisegovernance arrangements of the competent authority, with particular regard to the effective application of the standards and legislation referred to in Article 1(2) and to the capacity to respond to market developments;
2010/04/15
Committee: ECON
Amendment 527 #

2009/0142(COD)

Proposal for a regulation
Article 15 – paragraph 2 – point b
(b) the degree of convergence reached in the application of CommEuropean unityon law and in supervisory practice, including technicalregulatory and supervisory standards, guidelines and recommendations adopted under Articles 7 and 8, and the extent to which the supervisory practice achieves the objectives set out in CommunityEuropean Union law;
2010/04/15
Committee: ECON
Amendment 528 #

2009/0142(COD)

Proposal for a regulation
Article 15 – paragraph 3
3. On the basis of the peer review the Authority may issue recommendations or adopt other appropriated measures to the competent authorities concerned.
2010/04/15
Committee: ECON
Amendment 531 #

2009/0142(COD)

Proposal for a regulation
Article 16 – paragraph 2 – introductory part
The Authority shall promote a coordinated Community, consolidated and integrated European Union response, inter alia by:
2010/03/26
Committee: ECON
Amendment 532 #

2009/0142(COD)

Proposal for a regulation
Article 16 – paragraph 2 – point 3 a (new)
(3a) taking all appropriate measures in situations of financial instability and crisis with a view to achieve a common response, as fast and automatically as possible, by relevant national competent supervisory authorities;
2010/03/26
Committee: ECON
Amendment 543 #

2009/0142(COD)

Proposal for a regulation
Article 17 – paragraph 3
3. The Authority shall ensure an adequate coverage of cross-sectoral developments, risks and vulnerabilities by closely cooperating with the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority and actively participating within the JCESA.
2010/03/26
Committee: ECON
Amendment 545 #

2009/0142(COD)

Proposal for a regulation
Article 18 – paragraph -1 a (new)
The Authority shall represent the European Union in all international fora concerning regulation and supervision of the institutions falling under the legislation referred to in Article 1(2). National competent authorities may continue to contribute to such fora as pertain to national issues and issues relevant for their own functions and competences under EU law.
2010/03/26
Committee: ECON
Amendment 547 #

2009/0142(COD)

Proposal for a regulation
Article 18 – paragraph 1
Without prejudice to the competences of the Community Institutions, the Authority may develop contacts with supervisory authorities from third countries. It mayEuropean Union Institutions and Member States, the Authority may develop contacts and enter into administrative arrangements with supervisory authorities, international organisations and the administrations of third countries.
2010/03/26
Committee: ECON
Amendment 549 #

2009/0142(COD)

Proposal for a regulation
Article 18 – paragraph 2 a (new)
In its annual report, the Authority shall set out the administrative arrangements and equivalent decisions agreed upon with international organisations or administration in third countries.
2010/03/26
Committee: ECON
Amendment 564 #

2009/0142(COD)

Proposal for a regulation
Article 20 – paragraph 1 – subparagraph 2
The Authority may also request information to be provided at recurring intervals. These requests shall, where possible, use common reporting formats.
2010/03/26
Committee: ECON
Amendment 577 #

2009/0142(COD)

Proposal for a regulation
Article 20 – paragraph 3 a (new)
3a. On a request from a national supervisory authority of a Member State the Authority shall provide any such information that is necessary to enable the national authority to carry out its duties, provided the national authority in question has appropriate confidentiality arrangements in place.
2010/03/26
Committee: ECON
Amendment 580 #

2009/0142(COD)

Proposal for a regulation
Article 21 – paragraph 1
1. The European Banking Authority shall co-operate closely with the ESRB.
2010/03/26
Committee: ECON
Amendment 583 #

2009/0142(COD)

Proposal for a regulation
Article 22 – paragraph 2 – subparagraph 1
2. The Banking Stakeholder Group shall be composed of 30 members, representing in balanced proportions CommunityUnion credit and investment institutions, their employees as well as consumers and users of banking services and representatives of business. The diverse models and sizes of financial institutions and business shall be represented. Not less than 5 of the members shall be independent top- ranking academics. The number of members representing market participants shall not exceed 10. Not more than 10 members shall be representatives of larger financial institutions.
2010/03/26
Committee: ECON
Amendment 597 #

2009/0142(COD)

Proposal for a regulation
Article 22 – paragraph 3 – subparagraph 2
In making its decision, the Board of Supervisors shall, to the extent possible, ensure an appropriate geographical and gender balance and representation of stakeholders across the Community.
2010/03/26
Committee: ECON
Amendment 606 #

2009/0142(COD)

Proposal for a regulation
Article 22 – paragraph 5
5. The Banking Stakeholder Group may submit opinions and advice to the Authority on any issue related to the tasks of the Authority with particular focus on the tasks set out in specified in Articles 7 and 8.
2010/03/26
Committee: ECON
Amendment 613 #

2009/0142(COD)

Proposal for a regulation
Article 23 – paragraph 1
1. The Authority shall ensure that the banking system internalise, with a cyclical perspective, its costs and that no decision adopted under Articles 10 or 11 impinges in any direct way on the fiscal responsibilities of Member States.
2010/03/26
Committee: ECON
Amendment 623 #

2009/0142(COD)

Proposal for a regulation
Article 23 – paragraph 2 – subparagraph 1
2. Where a Member State considers thadoes not accept a decision taken under Article 11 (3) because it impinges on its fiscal responsibilities, it mayshall notify the Authority and, the Commission and the European Parliament within one month after notification of the Authority's decision to the competent authority that the decision will not be implemented by the competent authority.
2010/03/26
Committee: ECON
Amendment 632 #

2009/0142(COD)

Proposal for a regulation
Article 23 – paragraph 2 – subparagraph 5
Where the Authority maintains its decision, the Council, acting by qualified majority as defined in Article 205 of the Treaty, shall, within two months, decide shall take a decision by a majority of the votes cast, at one of its meetings at the latest two months after the Authority has informed the Member State as set out in the previous subparagraph, as to whether the Authority's decision is maintained or revoked.
2010/03/26
Committee: ECON
Amendment 651 #

2009/0142(COD)

Proposal for a regulation
Article 24 – paragraph 1
1. Before taking the decisions provided for in Article 9(6), Article 10(2) and(3) and Article 11(3) and (4)this Regulation, the Authority shall inform the addressee of its intention to adopt the decision, setting a time limit within which the addressee may express its views on the matter, taking full account of the urgency, complexity and potential consequences of the matter.
2010/03/26
Committee: ECON
Amendment 657 #

2009/0142(COD)

Proposal for a regulation
Article 25 – paragraph 1 – point b
(b) the Head of the national public authority competent for the supervision of credit institutions in each Member State. Where there is more than one competent authority in the territory for which the Member State is responsible for the application of EU law, the Heads of those organisations shall be joint representatives on the Board of Supervisors and shall decide between themselves how to exercise their representation, including any votes under Article 29, which shall be shared;
2010/03/26
Committee: ECON
Amendment 662 #

2009/0142(COD)

Proposal for a regulation
Article 27
When carrying out the tasks conferred upon it by this Regulation, the Chairperson and the voting members of the Board of Supervisors shall act independently and objectively in the Communitysole interest of the European Union as a whole interest and shall neither seek nor take instructions from CommunityEuropean Union institutions or bodies, from a Government of a Member State or from any other public or private body.
2010/03/26
Committee: ECON
Amendment 664 #

2009/0142(COD)

Proposal for a regulation
Article 27 – paragraph 1 a (new)
The members of the Board of Supervisors and their staff should not have worked or provide services to financial institutions during the 3 previous years nor should they do it in the 3 years after having left their responsibilities in the Authority.
2010/03/26
Committee: ECON
Amendment 692 #

2009/0142(COD)

Proposal for a regulation
Article 31
The members of the Management Board shall act independently and objectively in the Community interestsole interest of the European Union as a whole, without seeking or taking any instructions from CommunityEuropean Union institutions or bodies, from any government of a Member State or from any other public or private body.
2010/03/26
Committee: ECON
Amendment 693 #

2009/0142(COD)

Proposal for a regulation
Article 31 – paragraph 1 a (new)
Neither Member States, European Union institutions or bodies, nor any other public or private body shall seek to influence the members of the Management Board.
2010/03/26
Committee: ECON
Amendment 694 #

2009/0142(COD)

Proposal for a regulation
Article 31 – paragraph 1 b (new)
In accordance with the Staff Regulations referred to in Article 54, the members of the Management Board shall, after leaving the service, continue to be bound by the duty to behave with integrity and discretion as regards the acceptance of certain appointments or benefits.
2010/03/26
Committee: ECON
Amendment 697 #

2009/0142(COD)

Proposal for a regulation
Article 32 – paragraph 8
8. The Management Board shall appoint and remove the members of the Board of Appeal in accordance with Article 44(3) and 44(5).deleted
2010/03/26
Committee: ECON
Amendment 705 #

2009/0142(COD)

Proposal for a regulation
Article 34 – paragraph 1 a (new)
In accordance with the Staff Regulations referred to in Article 54, the Chairperson shall, after leaving the service, continue to be bound by the duty to behave with integrity and discretion as regards the acceptance of certain appointments or benefits.
2010/03/26
Committee: ECON
Amendment 708 #

2009/0142(COD)

Proposal for a regulation
Article 35 – paragraph 2 a (new)
2a. In addition to the information referred to in Articles 7a, 8, 9, 10, 11a and 18, the report shall include information on, in particular, the accessibility, availability, amount and cost of banking credit to households and SMEs, and the volume and changes therein of public debt owned by credit institutions. It shall also include information on the 50 larger financial institutions operating in the EU and any relevant information requested by the European Parliament on an ad-hoc basis.
2010/03/26
Committee: ECON
Amendment 715 #

2009/0142(COD)

Proposal for a regulation
Article 37 – paragraph 1 a (new)
The Executive Director should not have worked or provide services to financial institutions during the 3 previous years nor should they do it in the 3 years after having left their responsibilities in the Authority.
2010/03/26
Committee: ECON
Amendment 716 #

2009/0142(COD)

Proposal for a regulation
Article 37 – paragraph 1 b (new)
In accordance with the Staff Regulations referred to in Article 54, the Executive Director shall, after leaving the service, continue to be bound by the duty to behave with integrity and discretion as regards the acceptance of certain appointments or benefits.
2010/03/26
Committee: ECON
Amendment 727 #

2009/0142(COD)

Proposal for a regulation
Article 40 – paragraph 2
2. The Joint Committee shall serve as a forum in which the Authority shall cooperate regularly and closely and ensure cross-sectoral consistency with the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority it shall also ensure cross-sectoral supervisory consistency and coordination in particular on: – financial conglomerates; – accounting and auditing; – micro-prudential analyses for financial stability; – retail investment products; – anti-money laundering measures; and – information exchange with the European Systemic Risk Board.
2010/03/26
Committee: ECON
Amendment 736 #

2009/0142(COD)

Proposal for a regulation
Article 41 – paragraph 2
2. The Executive Director, a representative of the Commission and the ESRB shall be invited to the meetings of the Joint Committee of European Supervisory Authorities as well as the Sub- Committees mentioned in Article 43 as observers.
2010/03/26
Committee: ECON
Amendment 739 #

2009/0142(COD)

Proposal for a regulation
Article 41 – paragraph 3
3. The chair of the Joint Committee of European Supervisory Authorities shall be appointed on an annual rotational basis from among the Chairpersons of the European Banking Authority, the EuropeaSupervisory Authority on Banking , the European Supervisory Authority on Insurance and Occupational Pensions Authority and the European Supervisory Authority on Securities and Markets Authority.
2010/03/26
Committee: ECON
Amendment 753 #

2009/0142(COD)

Proposal for a regulation
Article 44 – paragraph 3 – subparagraph 1
3. Two members of the Board of Appeal and two alternates shall be appointed by the Management Board of the Authority from a short-list proposedEuropean Parliament, two members by the Council and the other two members by the Commission, following a public call for expression of interest published in the Official Journal of the European Union, and after consultation of the Board of Supervisors.
2010/03/26
Committee: ECON
Amendment 757 #

2009/0142(COD)

Proposal for a regulation
Article 44 – paragraph 3 – subparagraph 2
The other Members shall be appointed in accordance with Regulation (EC) No …/…[EIOPA] and Regulation (EC) No …/…[ESMA].deleted
2010/03/26
Committee: ECON
Amendment 758 #

2009/0142(COD)

Proposal for a regulation
Article 44 – paragraph 5
5. A member of the Board of Appeal, who was appointed by the Management Board of the Authority, may not be removed during his term of office, unless he has been found guilty of serious misconduct, and the Management Boardinstitution who appointed him/her takes a decision to that effect after consulting the Board of Supervisors.
2010/03/26
Committee: ECON
Amendment 763 #

2009/0142(COD)

Proposal for a regulation
Article 47 – paragraph 1 a (new)
1a. Member States and the European Union institutions, as well as any natural or legal person, may lodge a direct appeal before the Court of Justice against decisions of the Authority, in accordance with Article 263 of the Treaty on the Functioning of the European Union.
2010/03/26
Committee: ECON
Amendment 775 #

2009/0142(COD)

Proposal for a regulation
Article 55 – paragraph 1
1. In the case of non-contractual liability, the Authority shall, in accordance with the general principles common to the laws of the Member States, make good any unjustifiable damage caused by it or by its staff in the performance of their duties. The Court of Justice shall have jurisdiction in any dispute over the remedying of such damage.
2010/03/26
Committee: ECON
Amendment 776 #

2009/0142(COD)

Proposal for a regulation
Article 56 – paragraph 1
1. Members of the Board of Supervisors and the Management Board, the Executive Director, and members of the staff of the Authority including officials seconded by Member States on a temporary basis and all other persons carrying out tasks for the Authority on a contractual basis shall be subject to the requirements of professional secrecy pursuant to Article 287339 of the Treaty on the Functioning of the European Union and the relevant provisions in the relevant communityEuropean Union legislation, even after their duties have ceased.
2010/03/26
Committee: ECON
Amendment 778 #

2009/0142(COD)

Proposal for a regulation
Article 59 – paragraph 2
2. The Management BoardBoard of Supervisors shall decide on the internal language arrangements for the Authority.
2010/03/26
Committee: ECON
Amendment 784 #

2009/0142(COD)

Proposal for a regulation
Article 62 – paragraph 3 a (new)
3a. The Authority shall be considered the legal successor of the Committee of European Banking Supervisors. At the latest on the date of establishment of the Authority, all assets and liabilities and all pending operations of the Committee of European Banking Supervisors will be automatically transferred to the Authority. The Committee of European Banking Supervisors shall establish a statement showing its closing asset and liability situation as of the date of that transfer, This statement shall be audited and approved by its members and by the Commission.
2010/03/26
Committee: ECON
Amendment 795 #

2009/0142(COD)

Proposal for a regulation
Article 66 – paragraph 1 – subparagraph 2
That report shall also evaluate the progress achievedthat has been made in the achievement of the Authority's objectives and the evolution towards regulatory and supervisory convergence and integration in the fields of crisis management and resolution in the CommunityEuropean Union. Equally, the report shall evaluate how the system is dealing with the costs derived from its ordinary functioning and how can their full internalisation be achieved taking into account a cyclical perspective. The evaluation shall be based on extensive consultation, including with the Banking Stakeholder Group.
2010/03/26
Committee: ECON
Amendment 796 #

2009/0142(COD)

Proposal for a regulation
Article 66 – paragraph 1 a (new)
1a. The Commission shall draft its report taking into account the proposals made by the Banking Stakeholder, the Board of Supervisors, and the Joint Committee. Those proposals shall be annexed to the report published by the Commission. The Commission shall also consider the views of other stakeholders groups.
2010/03/26
Committee: ECON
Amendment 798 #

2009/0142(COD)

Proposal for a regulation
Article 66 – paragraph 2 a (new)
2a. The European Parliament and the Council shall examine this Regulation on the basis of the report referred to in paragraph 1 and shall determine whether the missions and organisation of the Authority need to be reviewed.
2010/03/26
Committee: ECON
Amendment 116 #

2009/0140(COD)

Proposal for a regulation
Article 2 – point b
(b) ‘financial system’ means all financial institutions, markets, products and market infrastructures.
2010/03/19
Committee: ECON
Amendment 117 #

2009/0140(COD)

Proposal for a regulation
Article 2 – point b a (new)
(ba) ‘systemic risk’ means a risk of disruption to financial services that is caused by a significant impairment of all or parts of the financial system and has the potential to have serious negative consequences for the real economy. In this context, any type of financial institution and intermediary, market, infrastructure and instrument has the potential to be systemically significant.
2010/03/19
Committee: ECON
Amendment 217 #

2009/0140(COD)

Proposal for a regulation
Article 16 – paragraph 3
3. TAll the warnings or recommendations shall also be transmitted to the Council and, where addressed to one or more national supervisory authority,, to the Chairperson of the responsible committee of the European Parliament and to the European Supervisory Authorities.
2010/03/19
Committee: ECON
Amendment 66 #

2009/0116(COD)

Proposal for a regulation
Recital 4
(4) As part of the measures to regulate stocks of bluefin tuna, improve the quality and reliability of statistical data and in order to prevent, deter and eliminate illegal fishing, the ICCAT has adopted at its annual meeting in Marrakesh (Morocco), on 24 November 2008, the Recommendation 08-12 amending Recommendation 07-10 on an ICCAT bluefin tuna catch documentation programme. Since this, whose entry into force was set for 17 June 2009. Subsequently, at its annual meeting held in Recife (Brazil) from 9 to 15 November 2009, ICCAT adopted Recommendation 09-11 amending Recommendation 08-12 on the ICCAT bluefin tuna catch documentation programme. Since that Recommendation will enter into force on 17 June 20109, it needs to be implemented by the CommunityEuropean Union.
2010/03/15
Committee: PECH
Amendment 69 #

2009/0116(COD)

Proposal for a regulation
Article 1
This Regulation establishes a Community bluefin tuna catch documentation programme in order to support the implementation of conservation and management measures adopted by the International Commission for the Conservation of Atlantic Tunas (ICCAT), incorporating the provisions of the ICCAT bluefin tuna catch documentation programme with a view to identifying the origin of all bluefin tuna.
2010/03/15
Committee: PECH
Amendment 71 #

2009/0116(COD)

Proposal for a regulation
Article 2 - point b - point ii
(ii) trade of farmed bluefin tuna products originating from bluefin tuna caught in the ICCAT Convention area by a Community catching vessel which is flagged to the same Member State where the farm is established, where the bluefin tuna is then supplied to any entity in that Member State, and
2010/03/15
Committee: PECH
Amendment 72 #

2009/0116(COD)

Proposal for a regulation
Article 2 - point b - point iii
(iii) trade between EU Member States of bluefin tuna caught in the ICCAT Convention area by Community catching vessels flagged in one Member State or by a trap established in one Member State.
2010/03/15
Committee: PECH
Amendment 73 #

2009/0116(COD)

Proposal for a regulation
Article 2 - point c
(c) "Export": means any movement to a third country of bluefin tuna caught or processed (including farming) in the ICCAT Convention area by a Community catching vessel or trap, including from the territory of the CommunityUnion, from third countries or from fishing grounds;
2010/03/15
Committee: PECH
Amendment 74 #

2009/0116(COD)

Proposal for a regulation
Article 2 - point d
(d) "Import": means the introduction into the territory of the Community, including for caging, fattening, farming or transhipment purposes, of bluefin tuna caught or processed (including farming) in the ICCAT Convention area by a third country catching vessel or trap;
2010/03/15
Committee: PECH
Amendment 75 #

2009/0116(COD)

Proposal for a regulation
Article 2 - point e
(e) "Re-export": means any movement from the territory of the Community of bluefin tuna in caught or processed form (including farming) which had been previously imported into the territory of the Community;
2010/03/15
Committee: PECH
Amendment 85 #

2009/0116(COD)

Proposal for a regulation
Article 8 - paragraph 2 a (new)
2a. Each portion of the separate cargoes or processed product shall be accompanied by copies of the catch documents, using the single catch document number to identify them.
2010/03/15
Committee: PECH
Amendment 88 #

2009/0116(COD)

Proposal for a regulation
Article 12 - paragraph 1
The Annexes may be amended by the Commission in accordance with the procedure laid down inby means of delegated acts pursuant to Articles 13, 13a and 13b. Or. es (See amendments by Antolín Sánchez Presedo to Articles 13. , 13a and 13b)
2010/03/15
Committee: PECH
Amendment 90 #

2009/0116(COD)

Proposal for a regulation
Article 12 - paragraph 2
The amendments shall concern exclusively the annexes to the conservation measures adopted by ICCAT in which the CommunityEuropean Union is a contracting party, and shall, therefore, not include amendments to the conservation measures themselves.
2010/03/15
Committee: PECH
Amendment 94 #

2009/0116(COD)

Proposal for a regulation
Article 13 - title
Committee procedure Delegated acts
2010/03/15
Committee: PECH
Amendment 95 #

2009/0116(COD)

Proposal for a regulation
Article 13 - paragraph 2
2. WherePower to adopt the delegated acts referrence is made to this paragraph, Articles 4 and 7 of Decd to in Article 12 shall be conferred on the Commission 1999/468/EC shall applyfor an indefinite time.
2010/03/15
Committee: PECH
Amendment 96 #

2009/0116(COD)

Proposal for a regulation
Article 13 - paragraph 2 a (new)
2a. As soon as the Commission has adopted a delegated act, it shall simultaneously notify both the European Parliament and the Council.
2010/03/15
Committee: PECH
Amendment 97 #

2009/0116(COD)

Proposal for a regulation
Article 13 - paragraph 2b (new)
2b. The power to adopt delegated acts shall be conferred on the Commission subject to the conditions laid down in Articles 13a and 13b. Or. es (See amendments by Antolín Sánchez Presedo to Articles 13a and 13b)
2010/03/15
Committee: PECH
Amendment 98 #

2009/0116(COD)

Proposal for a regulation
Article 13 - paragraph 3
3. The period laid down in Article 4(3) of Decision 1999/468/EC shall be set at one month.deleted
2010/03/15
Committee: PECH
Amendment 99 #

2009/0116(COD)

Proposal for a regulation
Article 13 a (new)
Article 13a Revocation of delegation 1. The delegation of powers referred to in Article 12 may be revoked by the European Parliament and the Council. 2. The institution which initiates an internal procedure in order to decide whether or not to revoke the delegation of powers shall inform the other institution and the Commission. 3. The decision to revoke shall put an end to the delegation of powers referred to in the decision. It shall have either immediate effect or effect from a later date specified in the decision. It shall not affect the validity of any delegated acts already in force. It shall be published in the Official Journal of the European Union.
2010/03/15
Committee: PECH
Amendment 100 #

2009/0116(COD)

Proposal for a regulation
Article 13 b (new)
Article 13b Objections to delegated acts 1. The European Parliament or the Council may enter objections to a delegated act within four months of the date of notification. By initiative of the European Parliament or the Council, this period may be extended by a further two months. 2. If on the expiration of the above period neither the European Parliament nor the Council has entered objections to the delegated act, it shall enter into force on the date established in the text. Should Parliament or the Council enter objections to a delegated act, that act may not enter into force.
2010/03/15
Committee: PECH
Amendment 39 #

2009/0112(CNS)

Proposal for a regulation
Article 18 - paragraph 1
1. The competent authorities of a Member State may require that any quantity of anchovy caught in any of the area referred to in Article 2 and first landed in that Member State is weighed in the presence of controllers before being transported elsewhere from the port of first landing. For anchovy first landed in a port designated pursuant to Article 15, representative samples, amounting to at least 20 %a percentage for each season, to be set in line with the TAC, of the landings in number shall be weighed in the presence of controllers authorized by the Member States before they are offered for first sale and sold. To this end, the Member States shall submit to the Commission, within one month of the date of entry into force of this Regulation, details of the sampling regime to be employed.
2009/11/06
Committee: PECH
Amendment 41 #

2009/0112(CNS)

Proposal for a regulation
Annex III - point 4 - point a
(a) Level of inspection in ports As a general rule, the accuracy to be achieved should be at least equivalent to what would be obtained by a simple random sampling method, where inspections shall cover 20 %a percentage of all anchovy landings in number in a Member State. That percentage shall be set in line with the TAC for each season.
2009/11/06
Committee: PECH
Amendment 89 #

2009/0099(COD)

Proposal for a directive – amending act
Recital 9 a (new)
(9a) In order to promote the implementation of adequate remuneration policies in the financial sector, the Commission, the Member States and all public institutions should not award public contracts to credit institutions that fail to fulfil both the remuneration principles and requirements laid down in Section 11 of Annex V to Directive 2006/48/EC, namely the consistency, soundness and effectiveness of risk management.
2010/03/31
Committee: ECON
Amendment 162 #

2009/0099(COD)

Proposal for a directive – amending act
Annex I – point 1
Directive 2006/48/EC
Annex V – section 11 – point 22 – point e a (new)
(ea) in the case of credit institutions that benefit from exceptional government intervention, no variable remuneration is paid to the directors of that institution (the Commission, the Member States and, in general, all public institutions shall make financial support to credit institutions conditional on the fulfilment of both the remuneration principles and requirements laid down in this Section);
2010/03/31
Committee: ECON
Amendment 765 #

2009/0064(COD)

Proposal for a directive
Article 16 – paragraph 3 a (new)
3a. The valuation of assets may be carried out in other transparent, competent and proportionate way if there is an agreement to that effect between the participants of the AIF and the AIF fulfils all the following criteria: (a) The assets of the fund do not exceed a threshold of EUR 100 million; (b) The portfolio of the AIFM consists of AIF whose assets under management do not exceed in total a threshold of EUR 1 billion; (c) The portfolio of the AIFM consists of AIF that are not leveraged; (d) The portfolio of the AIFM consists of AIF that have no redemption rights exercisable during a period of 5 years following the date of constitution of each AIF; (d) The AIFM makes sustainable investments through venture or growth capital in SMEs or environmental or technological innovation projects.
2010/02/15
Committee: ECON
Amendment 1086 #

2009/0064(COD)

Proposal for a directive
Article 20 – paragraph 1 – point h
(h) a description of all fees, charges and expenses and of the maximum amounts thereof which are directly or indirectly borne by investors, together with, if applicable, a description of fees, charges and expenses paid in the last twelve months;
2010/02/16
Committee: ECON
Amendment 1101 #

2009/0064(COD)

Proposal for a directive
Article 20 – paragraph 1 – point j b (new)
(jb) a description of the past performance of the AIF from its inception to the most recent assessment;
2010/02/16
Committee: ECON
Amendment 1104 #

2009/0064(COD)

Proposal for a directive
Article 20 – paragraph 1 – point j e (new)
(je) information on the identities of the AIFM shareholders or members, whether direct or indirect and whether natural or legal persons, that have qualifying holdings and on the amounts of those holdings;
2010/02/16
Committee: ECON
Amendment 1105 #

2009/0064(COD)

Proposal for a directive
Article 20 – paragraph 1 – point j f (new)
(jf) information on the track record of AIF managed by the AIFM, including performance data on on-going and wound up AIF, and, where the AIFM is a legal person, on the legal representatives, directors and key employees of the AIFM;
2010/02/16
Committee: ECON
Amendment 1106 #

2009/0064(COD)

Proposal for a directive
Article 20 – paragraph 1 – point j g (new)
(jg) a detailed description of the source, maturity and amount of funds raised by the AIF, including the share directly or indirectly contributed by the AIFM managing the AIF and its representatives, directors and employees;
2010/02/16
Committee: ECON
Amendment 1114 #

2009/0064(COD)

Proposal for a directive
Article 20 – paragraph 2 – introductory part
2. For each AIF that an AIFM manages, it shall periodically disclose to investors:
2010/02/16
Committee: ECON
Amendment 1115 #

2009/0064(COD)

Proposal for a directive
Article 20 – paragraph 2 – points a and b
(a) on a periodic basis, the percentage of the AIF's assets which are subject to special arrangements arising from their illiquid nature; (b) on a periodic basis, any new arrangements for managing the liquidity of the AIF;
2010/02/16
Committee: ECON
Amendment 1116 #

2009/0064(COD)

Proposal for a directive
Article 20 – paragraph 2 – point c
(c) the current risk profile of the AIFon a periodic basis, but not less than every month, unless the information has not changed since the last disclosure, the current risk profile of the AIF, including the level of leverage used, and the risk management systems employed by the AIFM to manage these risks.
2010/02/16
Committee: ECON
Amendment 94 #

2008/2334(INI)

Motion for a resolution
Paragraph 8 a (new)
8a. is of the opinion that, in order to match the higher proportion of longer- term lending in ECB assets and gain more control of the potential flow of liquidity to the financial system, the ECB could consider issuing debt certificates with longer maturities;
2009/01/29
Committee: ECON
Amendment 96 #

2008/2334(INI)

Motion for a resolution
Paragraph 8 b (new)
8b. Underlines that, in order to ensure that Euribor rates better reflect the costs of borrowing for prime banks and are not contaminated by fragile institutions, the definition of member banks included in the fixing of these rates could be revised;
2009/01/29
Committee: ECON
Amendment 99 #

2008/2334(INI)

Motion for a resolution
Paragraph 9 a (new)
9a. believes that in order to limit contagion risks between banking institutions and avoid the distortion of interbank prices and volumes during episodes of financial distress, the creation of a clearing house for interbank lending, financed by fees paid by borrowing institutions and backed by appropriate government guarantees should be considered;
2009/01/29
Committee: ECON
Amendment 4 #

2008/2237(INI)

Draft opinion
Paragraph 1 a (new)
1 a. Stresses the key role of SMEs in Europe's economic and social fabric and the vital need for them to benefit from the opportunities offered by the internal market, demographic and technological change, and the challenges of the environment and globalisation, with a view to meeting the goals of the Lisbon Strategy;
2008/11/11
Committee: ECON
Amendment 5 #

2008/2237(INI)

Draft opinion
Paragraph 1 b (new)
1 b. Stresses that a suitable policy of legislative simplification, reduction of overheads, elimination of administrative costs, introduction of new technology and operational facilitation should help boost the efficiency of SMEs and microbusinesses, as well as promoting fairer competition on the internal market;
2008/11/11
Committee: ECON
Amendment 6 #

2008/2237(INI)

Draft opinion
Paragraph 1 c (new)
1 c. Believes that the information to be supplied by SMEs and microbusinesses to administrations, the public and the market should be in line with criteria of general interest and strict proportionality;
2008/11/11
Committee: ECON
Amendment 7 #

2008/2237(INI)

Draft opinion
Paragraph 1 d (new)
1 d. Stresses the need to promote enterprise culture and a favourable business climate with a view to unleashing SMEs' full potential;
2008/11/11
Committee: ECON
Amendment 8 #

2008/2237(INI)

Draft opinion
Paragraph 2
2. Calls for increased efforts to be made in implementing mutual recognition in order to facilitate cross-border activities of SMEs; believes there should be a common consolidated basis for company tax, and until such time as that exists supports adopting a system enabling SMEs carrying out cross-border activities to pay tax according to the rules of their country of origin;
2008/11/11
Committee: ECON
Amendment 9 #

2008/2237(INI)

Draft opinion
Paragraph 2 a (new)
2 a. Believes that SMEs, and especially microbusinesses, should be taxed in accordance with their characteristics, in such a way as to facilitate the start-up phase and encourage innovation and investment throughout their lives;
2008/11/11
Committee: ECON
Amendment 11 #

2008/2237(INI)

Draft opinion
Paragraph 2 b (new)
2 b. Believes that the transfer of SMEs should be made easier, especially in cases of retirement or illness of the owner and transfer to relatives or heirs;
2008/11/11
Committee: ECON
Amendment 13 #

2008/2237(INI)

Draft opinion
Paragraph 3
3. Calls for better access for SMEs to public procurement as well as the opening up, where possible, of services of general interest to public tenders;
2008/11/11
Committee: ECON
Amendment 29 #

2008/2237(INI)

Draft opinion
Paragraph 6
6. ;Is of the opinion that any new legislation, for example to avoid delays in the field of payments, copyright, company law or State aid (such ascompetition law (such as the rules adopted to facilitate obtaining data in private suits taken out over anti- competitive behaviour or those arising from the General block exemption Regulation1) regarding state aid2), should be formulated in such a way so as not to discriminate against SMEs but, rather, to support them and the provision of their services across the internal market;
2008/11/11
Committee: ECON
Amendment 37 #

2008/2237(INI)

Draft opinion
Paragraph 7 a (new)
7 a. Calls on the public administrations in the Member States to create, on a coordinated basis, offices to serve as 'one- stop shops' offering support services and exchange of best practices for SMEs;
2008/11/11
Committee: ECON
Amendment 43 #

2008/2237(INI)

Draft opinion
Paragraph 7 b (new)
7 b. Calls for the creation, on a structured basis, of mechanisms for dialogue, consultation and participation between SMEs and their representatives and the public authorities;
2008/11/11
Committee: ECON
Amendment 44 #

2008/2237(INI)

Draft opinion
Paragraph 7 c (new)
7 c. Calls on the Commission to draw up an annual report on SMEs, systematically presenting and commenting on the main data for the sector, with a view to establishing SMEs' situation, following their evolution and determining how far they are meeting the objectives set for the sector;
2008/11/11
Committee: ECON
Amendment 27 #

2008/2156(INI)

Motion for a resolution
Paragraph 6 a (new)
6a. Calls for the completion of the double monetary and economic pillars used for the design of monetary policy by financial analysis (inter alia as regards the transfer of monetary policy, the development of credit and financial assets, the characteristics of new products, and the concentration of risks and liquidity);
2008/09/03
Committee: ECON
Amendment 28 #

2008/2156(INI)

Motion for a resolution
Paragraph 6 b (new)
6b. Stresses, in connection with enlargement, the desirability of a high level of convergence in the real economy in order to limit the strain involved, both for the Community and for applicant countries; considers, in this context, that facilities in favour of those Member States participating in the euro area, where the single monetary policy may have a particularly contractive effect, should be established;
2008/09/03
Committee: ECON
Amendment 1 #

2008/2154(INI)

Motion for a resolution
Citation 1 a (new)
- having regard to its resolution of 25 April 2007 on the Green Paper on Damages actions for breach of the EC antitrust rules1,
2008/11/18
Committee: ECON
Amendment 7 #

2008/2154(INI)

Motion for a resolution
Recital C
C. whereas private- law prosecution of damages claims must be directed towards fully compensating the harm suffered, and whereas the principles of damage law whereby compensation for damage may not serve to enrich the victim and mullaw that prohibit unfair enrichment, forbidding multiple recovery of compensation for damage and avoiding punitive damages, which are incompatipble recovery ofwith sanctions imposed by compensatition for damage is to be avoidedauthorities under the principle of "non bis in idem", must be respected,
2008/11/18
Committee: ECON
Amendment 8 #

2008/2154(INI)

Motion for a resolution
Recital D
D. whereas although enforcement of competition law at Member State and at European level falls within the realm of public law and whereas manyby the Commission and the national competition authorities falls within the realm of public law and although private actions brought before national jurisdictional authorities have been rare and exceptional, some Member States have taken, or will take, measures to facilitate the prosecution of damage claims for private individuals in the event of infringement of European competition rules,
2008/11/18
Committee: ECON
Amendment 10 #

2008/2154(INI)

Motion for a resolution
Recital E
E. whereas the bringing of private legal actions may complement and support, but not replace, the enforcement of cartel law by the authorities and whereas the staffing and funding of the competition authorities must be boosted, so that competition law infringements can be prosecuted more effectively,
2008/11/18
Committee: ECON
Amendment 11 #

2008/2154(INI)

Motion for a resolution
Recital E a (new)
Ea. whereas fair and quick out-of-court settlements should be preferred to litigation and authorities should encourage voluntary agreements and promote means of reaching fair settlements which are binding on the parties, rather than encourage litigation,
2008/11/18
Committee: ECON
Amendment 12 #

2008/2154(INI)

Motion for a resolution
Recital E b (new)
Eb. whereas no matter how a dispute is resolved, it is essential that procedures and safeguards are put in place to ensure that all parties receive fair treatment, while ensuring that the system is not abused,
2008/11/18
Committee: ECON
Amendment 14 #

2008/2154(INI)

Motion for a resolution
Paragraph 1
1. Welcomes the abovementioned White Paper and stresses that the Treaty’s competition law rules and, in particular, their effective enforcement demand that victims of competition law infringements must be able to claim compensation for the damage suffered;
2008/11/18
Committee: ECON
Amendment 17 #

2008/2154(INI)

Motion for a resolution
Paragraph 2
2. Notes that the Commission has not so far stated what legal base ist will be invoking for its proposed measures, and doubts that the Treaty offers a basis for the planned interventions into national damages and procedural law;
2008/11/18
Committee: ECON
Amendment 18 #

2008/2154(INI)

Motion for a resolution
Paragraph 3
3. Takes the view that some obstacles to effective redress for victims of competition law infringements, such as mass and dispersed damages, information asymmetries and other problems encountered in prosecuting damages claims occur not only in EC competition law, but also in other areas such as product liability; nevertheless also considers that competition law has its own substance and rules and is an autonomous discipline that requires a specialised approach adapted to the particular complexities and difficulties encountered by victims with regard to its private enforcement;
2008/11/18
Committee: ECON
Amendment 22 #

2008/2154(INI)

Motion for a resolution
Paragraph 4
4. Points out that at the end of 2008 the Commission’s DG ‘Health and Consumers’ will be publishing the results of two studies on collective law enforcement instruments in the Member States and possible barriers to the single market resulting from the differing legislation in the Member States; points out also that the Commission has announced a Communication for late 2008 on the Community’s possible options for action; stresses that measures at European level must not lead to anrbitrary and unnecessary fragmentation of national procedural law, and asks thamust wbe wait for the results of the studies and for the Communication before consiharmoniously articulated; underling whether, and to what extent, a horizontal approach should be chosen to facilitate the prosecution of damage compensation claims; calls on the Commission in consequence to undertake an examination of the legal bes that an integrated approach should not delay or prevent the development of proposals and measures identified as necessary for the full enforcement of competition law, taking into account that some such measures could be extended to other arease and the need for a horizontal instrument, and to refrain in the meantime from presentingat all are coherent with current Community and national provisions anyd collective law enforcement mechanisms for private individuals in the area of EC competition lawmpatible with the future developments under consideration;
2008/11/18
Committee: ECON
Amendment 35 #

2008/2154(INI)

Motion for a resolution
Paragraph 6
6. Takes the view that the Member States, in accordance with Article 3 of Directive 98/27/EC of the European Parliament and the Council of 19 May 1998 on injunctions for the protection of consumer interests1,power to prosecute in representative actions should as ain general rulbe give the power to prosecute in representative actions to qualified entities, and that authorisations to pursue such actions should primarily be considered for associations which arrange for actions in law for damages for companien, by the Commission in cross-border claims or by the Member States, to qualified entities such as consumer or trade associations;
2008/11/18
Committee: ECON
Amendment 40 #

2008/2154(INI)

Motion for a resolution
Paragraph 7
7. Asks that only a clearly identifiedIs of the opinion that only in the case of a collective opt-in action it is necessary to clearly identify the members of the group of people bethat is allowed to take part, whereas in representative actions, and that identification must have taken place by the time the claim is brought; stresses that only the damage actually suffered may be compensated; notes that in the cas brought by qualified entities designated in advance ofr a successful claim the compensation sued for must be paid to the identified group of people and that the qualified entity may only ever be compensated for the costs it has incurred in the course of prosecuting the claimuthorised ad hoc, it is sufficient that the victims on behalf of which the damages action is brought are identifiable;
2008/11/18
Committee: ECON
Amendment 44 #

2008/2154(INI)

Motion for a resolution
Paragraph 8
8. Stresses that participation in an opt-in collective claim must remain possible up to the time of the commencement of proceedings;deleted
2008/11/18
Committee: ECON
Amendment 48 #

2008/2154(INI)

Motion for a resolution
Paragraph 9
9. Stresses that in the event of a successful stand-alone claim a subsequent prosecution by the authorities for breach of competition law is not excluded, but that the amount of the compensation awarded must be borne in mind in calcula; also reiterates that, in the event that the party that is alleged to have infringed the competition rules claims and proves that the damage was compensated voluntarily before the conclusion of the proceedings, this could be considered a mitigating factor in setting the fine;
2008/11/18
Committee: ECON
Amendment 50 #

2008/2154(INI)

Motion for a resolution
Paragraph 9 a (new)
9a. Encourages undertakings to compensate the victims of their illicit behaviour as quickly and effectively as possible, and encourages competition authorities to take account of such compensation when determining the fine that is to be imposed upon the undertaking, although this should not, however, interfere either with the victim’s right to full compensation for the harm suffered or with the need to maintain the deterrent objective of fines;
2008/11/18
Committee: ECON
Amendment 55 #

2008/2154(INI)

Motion for a resolution
Paragraph 11
11. Calls for the Commission to be obliged, in the follow-up to an investigation by the authorities, to allow victims of competition infringements full access to Commission documents, and stresses that access to docuthe information necessary to bring a damages action, and stresses that Regulation (EC) No 1049/2001 of the European Parliaments c and only be denied where interests of the defendaf the Council of 30 May 2001 regarding public access to European Parliament, Council and Commission documents1 defines a right of access to documents orf third parties that are pressingly in need of protection would thereby be endangered; 1 OJ L 145, 31.5.2001, p. 43. e institutions, which may refuse access only under the conditions set out in that Regulation, and in particular Article 4 thereof; notes that guidelines are needed regarding the treatment of leniency applications;
2008/11/18
Committee: ECON
Amendment 60 #

2008/2154(INI)

Motion for a resolution
Paragraph 12
12. Believes that a national court may notshould be bound by a decision of the national competition authority of another Member State, provided that that decision was adopted by a member of the European Competition Network (ECN) applying Articles 81 and 82 of the Treaty to the same infringement;
2008/11/18
Committee: ECON
Amendment 62 #

2008/2154(INI)

Motion for a resolution
Paragraph 13
13. Stresses that where national law requires that a culpable act must always be a prerequisite for a claim for compensation for damages, and that the competition law infringement must, at the least, be negligent therefore have been committed negligently, it should be for the infringer to demonstrate (once the infringement of Articles 81 or 82 of the EC Treaty has been proven) that the infringement was the result of an excusable error;
2008/11/18
Committee: ECON
Amendment 69 #

2008/2154(INI)

Motion for a resolution
Paragraph 16
16. Approves the admissibility of the defence of passing on of damaovercharges and stresses that evidence for this defence must always be provided by the party advancing itinfringer, with the courts having the option of recourse to established national rules on the link between causality and liability in order to come to just decisions in individual cases;
2008/11/18
Committee: ECON
Amendment 73 #

2008/2154(INI)

Motion for a resolution
Paragraph 17
17. Welcomes that fact that in the case of continuous or repeated infringements, limitation periods begin on the day when the infringement ceases or when the victim can reasonably be expected to have knowledge of the infringement, whichever is the later; stresses that rules on limitation periods also serve to create legal certainty and that in the event of a failure to establish liability an absolutebring public or private action a limitation period of tenfive years must therefore apply; also welcomes the fact that the limitation period for stand- alone claims is to be based on national law, and calls for this to apply to follow-up claims also; calls, in addition, in the case of prosecution by the authorities, for the limitation period for follow-up caseactions to be suspended, the suspension to begin with the opening of the proceedings and to end withlong enough to effectively allow for such actions after the definitive ruling or ending of the investigation by the cartel authority or with the binding judgment of the appellate court;
2008/11/18
Committee: ECON
Amendment 77 #

2008/2154(INI)

Motion for a resolution
Paragraph 18
18. Welcomes the fact that the Member States are to determine their own rules on allocation of costs; insists that the Commission should neither use soft-law instruments to encourage the Member States to deviate to the advantage of the plaintiff from the principle that the loser must bear the costs of the other party norand to set out any guidelines on funding of damages claims if it is useful for the enforcement of competition rules; observes that it must be ensured that the asymmetry of resources between the claimant and the defendant in legal proceedings is not a deterrence to bringing well-founded actions for damages;
2008/11/18
Committee: ECON
Amendment 5 #

2008/2148(INI)

Motion for a resolution
Recital B a (new)
Ba. whereas the development of the Economic and Monetary Union, the expansion of credit and the global evolution of financial markets demand an update of the existing regulation and supervision systems in order to tackle new systemic risks, provide financial stability, attain the objectives of the EU and contribute to global financial governance,
2008/07/14
Committee: ECON
Amendment 15 #

2008/2148(INI)

Motion for a resolution
Recital C
C. whereas the current financial crisis, which was triggered by US subprime mortgages and products derived from the latter, has spread worldwide due to the increasingly integrated and contagious nature of markets, demanding the intervention of public authorities and indicating that existing financial market regulation and supervision could not cope with it and a significant reform is therefore welcome,
2008/07/14
Committee: ECON
Amendment 24 #

2008/2148(INI)

Motion for a resolution
Recital F
F. whereas the possibility to transfer credit risk, without a parallel transfer of capital requirements and other regulatory obligations, through an origination and distribution model has weakened incentives to evaluate and monitor risk and undermined the useful effect of regulation,
2008/07/14
Committee: ECON
Amendment 28 #

2008/2148(INI)

Motion for a resolution
Recital G
G. whereas lack of liquidity control, pro- cyclical behaviour, herding, inadequate risk management, irresponsible lending, excessive debt (leverage), and illiquid and complex financial instruments pose significant risks to economic stability and financial stabilecurity,
2008/07/14
Committee: ECON
Amendment 31 #

2008/2148(INI)

Motion for a resolution
Recital H
H. whereas current financial regulation and innovation, which was designed to diminish and diversify risk at the micro level, has led to risk concentration and has exacerbatednot prevented the increase and concentration of risk at the macro level, thus amplifying systemic risk,
2008/07/14
Committee: ECON
Amendment 92 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 1 – point 1.1 – point c
(c) ensure that the rules are anti-cyclical and take into account cumulative effects and liquidity risk;
2008/07/14
Committee: ECON
Amendment 132 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 1 – point 1.3 – point a
(a) Securitisation: Require originators to assess and monitor risk and retain a significant portion of the debt or mortgage backed securities or other assets originated by them on their books.
2008/07/14
Committee: ECON
Amendment 189 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 – introductory part
The European Parliament considers that the legislative act(s) to be adopted should aim to regulateintegrate and complete the current regulatory and supervision system by means of the following guidelines:
2008/07/14
Committee: ECON
Amendment 191 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 – point 3.1 – title
3.1. Supervision of large cross-border financial groups:
2008/07/14
Committee: ECON
Amendment 192 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 – point 3.1 – point a
(a) By Autumn 2008 a regulation shall require colleges ofa coherent supervisorsy for the [40 - 50] largest cross-border financial groups or holdings operating in the EU. The regulation should contain clear criteria for identifying the cross-border financial groups or holdings for which such colleges will be mandatoryramework for all international and cross-border financial groups within the EU.
2008/07/14
Committee: ECON
Amendment 195 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 – point 3.1 – point a a (new)
(aa) The ordinary supervision of financial groups should be developed in an integrated and holistic way. The competent national supervisory authorities, according to sector regulation, should act under a European perspective, settling in a flexible way the common questions following the principle "joint problem- joint decision" and coordinating its actions within colleges of supervisors.
2008/07/14
Committee: ECON
Amendment 196 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 – point 3.1 – point a b (new)
(ab) The regulation should enable the establishment of colleges of supervisors; they should cooperate in macroprudential supervision issues at European level of the financial groups or portfolio managers that operate in the EU.
2008/07/14
Committee: ECON
Amendment 219 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 - point 3.2
Point 3.2.deleted
2008/07/14
Committee: ECON
Amendment 230 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 – point 3.3 – title
3.3. Configuration of EU supervision: supervisory committees
2008/07/14
Committee: ECON
Amendment 235 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 – point 3.3 − point a
(a) By Autumn 2008 a regulation shall require transforming the existing Lamfalussy Level 3 committees into a configurationhe set up of EUa supervision and giving the Lamfalussy Level 3 committees the status ofory framework at EU level that integrates the action of the different supervisory agencies withuthorities and executive board (similar to the Eurosystem) and appropriate staffing and resourcesstablishes the European Financial Supervision Commission.
2008/07/14
Committee: ECON
Amendment 238 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 – point 3.3 − point a a (new)
(aa) The current Lamfalussy Level 3 committees should keep their functions and should assume the new macroprudential supervision issues, integrating to this effect the ordinary sections of the European Financial Supervision Commission that should have legal personality.
2008/07/14
Committee: ECON
Amendment 241 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 – point 3.3 − point b
(b) In addition to the advisory tasks the sections of the supervisory agenciesstructure shall be given the task (and the tools and resources) to mediate and guarantee coherence between the supervision of their respective groups, and to ensure macrosupervisory convergence and a level playing field in the implementation and enforcement of EU legislation in the sector.
2008/07/14
Committee: ECON
Amendment 251 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 – point 3.3 − point d
(d) The supervisory agenciesEuropean Financial Supervision Commission should present an annual work plan. Parliament, the Council and the Commission should approve the annual work plans and reports.
2008/07/14
Committee: ECON
Amendment 263 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 – point 3.3 − point f − point ii
(ii) issue recommendations on specific macrosupervisory practice issues;
2008/07/14
Committee: ECON
Amendment 265 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 – point 3.3 − point f − point iii
(iii) issue guidelines to ensure coherence and streamline the supervisory practices of the colleges;
2008/07/14
Committee: ECON
Amendment 268 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 – point 3.3 − point f − point iv
(iv) design common reporting standards and data provision requirements for cross- border groups, preferably in a multi purpose format such as XBRL (Extensible Business Reporting Language);
2008/07/14
Committee: ECON
Amendment 276 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 – point 3.3 − point g
(g) The regulation should also provide for a presidium for the configuration of EU supervisionEuropean Financial Supervision Commission will have a presidium consisting of five persons. It should be composed of the chairs of the three supervisory agenciesections. An independent chair and vice chair should be appointed for a five-year term by the Commission after consultation of Parliament and Council. The vice chair of the CCMC should act as the vice chairwill chair the Board of Appeal, extraordinary mixed character section that will settle the conflicts among groups belonging to different sectors in order to ensure maximum coherence within the conditions of inter-sectoral competition.
2008/07/14
Committee: ECON
Amendment 285 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 – point 3.3 − point h − point i
(i) ensure coordination and coherence between the agenciesections and sectors;
2008/07/14
Committee: ECON
Amendment 307 #

2008/2148(INI)

Motion for a resolution
Annex – recommendation 3 – point 3.4 − point b
(b) The oversight body should be composed of the chairs of the three Lamfalussy Level 3 supervisory committees, the chair of the presidium, the and vice-chair of the CCMCpresidium, a representative of the European System of Central Banks (which is composed of all EU central banks) and a representative of the Eurosystem and the (Vice)President of the ECB charged with prudential supervision. The ECB ((Vice)- President) could chair the oversight body and the chair of the presidium of the configuration of EU supervision could be vice-chair.
2008/07/14
Committee: ECON
Amendment 1 #

2008/2103(INI)

Draft opinion
Paragraph 1 a (new)
1a. Highlights the important role that regulatory agencies can play as distinct and auxiliary bodies of the Community institutions and the Member States with legal personality for the continuous performance of specific tasks in the area of EU competences and in the area of cooperation within the EU;
2008/07/09
Committee: ECON
Amendment 2 #

2008/2103(INI)

Draft opinion
Paragraph 1 b (new)
1b. Emphasises that regulatory agencies must be established in line with uniform criteria and that their design and functioning must comply with the common principles of institutional balance, good governance and good administration;
2008/07/09
Committee: ECON
Amendment 3 #

2008/2103(INI)

Draft opinion
Paragraph 1 c (new)
1c. Points out that the set up of a regulatory agency must be established through a legislative act and justified on grounds of necessity, efficacy and proportionality; when undertaking a mission in the area of shared competences between the EU and the Member States, it must also be justified according to the principle of subsidiarity;
2008/07/09
Committee: ECON
Amendment 4 #

2008/2103(INI)

Draft opinion
Paragraph 2
2. Believes that for regulatory agencies to have a legitimate role in the EU they must adhere to a framework incorporating a clear mandate and an efficient administrative and executive structure; considers that the force of their acts derives from the underlying legislative act that created the agencies and that these acts will not have legislative character unless they are subsequently adopted by the institutions through the appropriate legislative procedure;
2008/07/09
Committee: ECON
Amendment 6 #

2008/2103(INI)

Draft opinion
Paragraph 3
3. Echoes the concern of the Commission that, in the absence of a clear framework and clearly defined mandates, regulatory agencies may stray into areas of responsibility of policy-making branches of the EUbeyond their remit;
2008/07/09
Committee: ECON
Amendment 8 #

2008/2103(INI)

Draft opinion
Paragraph 3 a (new)
3a. Highlights that the principles of good governance require that the following be fully guaranteed: independence, democratic control, transparency and the participation of stakeholders in the functioning of the regulatory agency;
2008/07/09
Committee: ECON
Amendment 9 #

2008/2103(INI)

Draft opinion
Paragraph 3 b (new)
3b. Recalls that independence regarding the functioning of the agency must be based on the following conditions: suitability and the competence of its members, the objectivity and impartiality of their performance, the prohibition of any instruction or recommendation, the existence of strict rules to avoid incompatibilities and conflicts of interest, the need for a very high level of loyalty and transparency, the periodical rotation and the possibility of removing its members, the establishment of rules and codes with the stakeholders, the pursuit of illegal behaviour or any other interferences, and the establishment of other appropriate mechanisms;
2008/07/09
Committee: ECON
Amendment 10 #

2008/2103(INI)

Draft opinion
Paragraph 3 c (new)
3c. Declares that in order to ensure democratic control of the regulatory agencies effective legal, economic, political and citizens' control are required;
2008/07/09
Committee: ECON
Amendment 11 #

2008/2103(INI)

Draft opinion
Paragraph 4
4. Reiterates that all agencies must have a proper democratic accountability towards the EU institutions, must be established with respect for the Meroni judgement*1 and must at all times operate with respect for the principles of subsidiarity and proportionality; 1 Case 9/56 Meroni v High Authority [1957/58] ECR 133.proportionality and, when their mission deals with issues in the area of shared competences, with respect for the principle of subsidiarity; Or. en
2008/07/09
Committee: ECON
Amendment 12 #

2008/2103(INI)

Draft opinion
Paragraph 4 a (new)
4a. Considers it to be of the utmost importance to strengthen the role of the Parliament in the functioning of agencies, guaranteeing its participation in the processes of appointment and removal of the members responsible as well as the exercise of regular and systematic control over the fulfilment of the remit entrusted to them;
2008/07/09
Committee: ECON
Amendment 14 #

2008/2103(INI)

Draft opinion
Paragraph 5
5. Questions the necessity of establishing regulatory agencies when they do not add value in areas already covered by national or independent regulatory agencies; believes, ratherwhen this is the case, that resources should be spent on strengthening national bodies and that consultation and exchange of best practice should take place in the framework of network structures or of Community fora;
2008/07/09
Committee: ECON
Amendment 16 #

2008/2103(INI)

Draft opinion
Paragraph 5 a (new)
5a. Is of the view that the transparency of the regulatory agencies must be ensured, in particular as regards their functioning, the disclosure and accessibility of information, and the programming and accountability of their actions;
2008/07/09
Committee: ECON
Amendment 17 #

2008/2103(INI)

Draft opinion
Paragraph 5 b (new)
5b. Considers that participation in the activity of the regulatory agencies will have to be ensured by formally structuring the processes of consultation and dialogue with the stakeholders;
2008/07/09
Committee: ECON
Amendment 18 #

2008/2103(INI)

Draft opinion
Paragraph 5 c (new)
5c. Advocates that the principles of good administration must be ensured by a common approach regarding personnel selection processes, budgeting and resources administration, efficient management and performance evaluation;
2008/07/09
Committee: ECON
Amendment 19 #

2008/2103(INI)

Draft opinion
Paragraph 6
6. Supports the Commission's decision not to propose any new regulatory agencies until the end of 2009 when an evaluation to this end ismust be completed; questionsupports, however, the decision to proceed with the proposal in the fields of energy and telecoms whilethat, as for the existing agencies, must comply with the general framework that establishes the role, structure, mandate, accountability, legitimacy, and transparency of regulatory agencies are being questioned;
2008/07/09
Committee: ECON
Amendment 21 #

2008/2103(INI)

Draft opinion
Paragraph 6 a (new)
6a. Calls for cooperation among regulatory agencies within the EU and for consideration, in the annual horizontal report on the agencies, of the possibility of consolidating those agencies with similar responsibilities so that they can function jointly, as well as abolishing those that have lost their raison d'être;
2008/07/09
Committee: ECON
Amendment 93 #

2008/0217(COD)

Proposal for a regulation
Recital 1
(1) Credit rating agencies play an important role in global securities and banking markets, as their ratings are used by investors, borrowers, issuers and governments to make informed investment and financing decisions. Credit institutions, investments firms, insurance undertakings, assurance undertakings, reinsurance undertakings, undertakings for collective investment in transferable securities (UCITS) and institutions for occupational retirement provision, may use those ratings as the reference for the calculation of their capital requirements for solvency purposes or for calculating risks in their investment activity. Consequently, credit ratings have a significant impact on the operation of the markets and on the trust and confidence of investors and consumers. It is essential, therefore, that credit ratings used in agencies observe the principles of integrity, transparency, responsibility, good governance, and institutional cooperation in order to ensure that credit ratings used in, or affecting, the Community are independent, objective and of the highest quality.
2009/02/18
Committee: ECON
Amendment 110 #

2008/0217(COD)

Proposal for a regulation
Recital 5
(5) Credit rating agencies are considered to have failed to reflect early enough in their credit ratings the worsening market conditions. This failure can be best corrected by measures related to conflicts of interest, the quality of the credit ratings, the transparency of the credit rating agencies, their internal governance and surveillance of the activities of the credit rating agencies. The users of credit ratings should not relybe able to rely to a reasonable extent, though not blindly, on credit ratings. They should take utmost care to perform their own analysis and conduct due diligence regarding their reliance on such credit ratingat all times.
2009/02/18
Committee: ECON
Amendment 118 #

2008/0217(COD)

Proposal for a regulation
Recital 6
(6) It is necessary to lay down a common framework of rules regarding the quality of credit ratings to be used by financial institutions regulated by harmonised rules in the CommunityCommunity rules which have been harmonised or have implications for the internal market. Otherwise, there would be a risk that Member States would take diverging measures at national level. This would have a direct negative impact on and create obstacles to the good functioning of the internal market, since the credit rating agencies issuing credit ratings for the use of financial institutions in the Community, would be subject to different rules in different Member States. Moreover, diverging quality requirements on credit ratings could lead to unequal treatment and different levels of investor and consumer protection.
2009/02/18
Committee: ECON
Amendment 155 #

2008/0217(COD)

Proposal for a regulation
Recital 13
(13) Long -lasting relationships with the same rated entities or its related third parties could compromise the independence of analysts and persons approving credit ratings. Therefore those analysts and person, persons, and credit rating agencies should be subject to a rotation mechanism.
2009/02/18
Committee: ECON
Amendment 165 #

2008/0217(COD)

Proposal for a regulation
Recital 14
(14) Credit rating agencies should use rating methodologies that are rigorous, systematic, and continuous and result in well-founded and solidly substantiated ratings that may be subject to validation based on historical experience. Credit rating agencies should ensure that methodologies, models and key rating assumptions used for determining credit ratings are properly maintained, up- to- date and subject to a comprehensive review on a periodic basis. In cases where the lack of reliable data or the complexity of the structure of a new type, in particular structured finance instruments, raises serious questions as to whether the credit rating agency can produce a credible credit rating, the credit rating agency should refrain from issuing a credit rating or withdraw an existing credit rating.
2009/02/18
Committee: ECON
Amendment 199 #

2008/0217(COD)

Proposal for a regulation
Recital 28
(28) It is appropriate to create a mechanism to ensure the effective enforcement of the provisions of this Regulation. The competent authorities of the Member States should have at their disposal the necessary means to ensure that ratings for use within the Community are issued in compliance with this Regulation. Since the analytical independence of a credit rating agency in the process of issuing its credit ratings should be preserved, the competent authorities should not interfere in relation to the substance of credit ratings and the methodologies by which a credit rating agency determines credit ratings. Credit ratings should be well founded and solidly substantiated, avoid rating compromises, and be comparable to those issued internationally by similar bodies.
2009/02/18
Committee: ECON
Amendment 211 #

2008/0217(COD)

Proposal for a regulation
Recital 35
(35) The stricter and clearer legal framework within which credit rating agencies will operate should also facilitate recourse to civil actions in respect of credit rating agencies in appropriate cases, in accordance with the applicable regimes of liability of the Member States. Credit rating agencies should be subject to judicial review in accordance with the principles, rules, and safeguards appropriate to the rule of law.
2009/02/18
Committee: ECON
Amendment 212 #

2008/0217(COD)

Proposal for a regulation
Recital 35 a (new)
(35a) Credit rating agencies should work with public institutions in the EU in the performance of their tasks, and their senior managers should appear before the appropriate committee of the European Parliament whenever invited to do so.
2009/02/18
Committee: ECON
Amendment 215 #

2008/0217(COD)

Proposal for a regulation
Article 1 - Title
SPrinciples and subject matter
2009/02/18
Committee: ECON
Amendment 216 #

2008/0217(COD)

Proposal for a regulation
Article 1
Rating agencies shall operate in keeping with the principles of integrity, transparency, responsibility, good governance and institutional cooperation. This Regulation introduces a common approach to ensuring the high quality of credit ratings to be used in, or having an impact in the Community, thereby contributing to the smooth functioning of the internal market while achieving a high level of consumer and investor protection. It lays down conditions for the issuance of credit ratings and rules on the organisation and conduct of credit rating agencies to ensure in practice their independence and avoidance of conflicts of interest.
2009/02/18
Committee: ECON
Amendment 227 #

2008/0217(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point b a (new)
(ba) ‘related entities’: rating entities operating in third countries under common distinguishing marks or forming a network with agencies registered in the European Union; Or. es Justification
2009/02/18
Committee: ECON
Amendment 234 #

2008/0217(COD)

Proposal for a regulation
Article 3 – paragraph 1 – point k a (new)
(ka) ‘private credit ratings’: ratings which are not going to be made public because they are issued on the order of an economic operator for a private use previously established .
2009/02/18
Committee: ECON
Amendment 264 #

2008/0217(COD)

Proposal for a regulation
Article 5 – paragraph 2
2. In order to ensure compliance with paragraph 1, the credit rating agency shall comply withnot be able to adopt credit ratings at the request of their clients for more than eight successive years with two years’ grace and the requirements set out in Sections A and B of Annex I.
2009/02/18
Committee: ECON
Amendment 303 #

2008/0217(COD)

Proposal for a regulation
Article 8 – paragraph 1 – subparagraph 1
1. A credit rating agency shall disclose any credit rating, as well as any decisions to discontinue a credit rating on a non- selective basis and in a timely manner. The information disclosed shall include the grounds and reasons for disclosing it.
2009/02/18
Committee: ECON
Amendment 306 #

2008/0217(COD)

Proposal for a regulation
Article 8 – paragraph 2
2. Credit ratings should reflect homogeneous criteria within the internal market, avoid regulatory arbitration and be comparable with those issued internationally by related entities; they shall be presented in accordance with the requirements set out in Section D of Annex I.
2009/02/18
Committee: ECON
Amendment 310 #

2008/0217(COD)

Proposal for a regulation
Article 8 – paragraph 5 – subparagraph 1
5. When a credit rating agency issues an unsolicited credit rating it shall state in the credit rating that the rated entity or related third party did not participate in the credit rating process and that the credit rating agency did not have access to the accounts and other relevant internal documents of the rated entity or its related third party. The rated entity or related third party shall be entitled to require that any reservations they may have be explicitly recorded in the rating and that any such observations be made available in the information disclosed by the rating agency.
2009/02/18
Committee: ECON
Amendment 324 #

2008/0217(COD)

Proposal for a regulation
Article 12 – paragraph 1 a (new)
1a. Rating agencies which ask to be registered shall indicate their related entities in third countries. The request for registration shall mean assuming responsibility for the ratings established by their related entities which have an impact in the Community.
2009/02/18
Committee: ECON
Amendment 388 #

2008/0217(COD)

Proposal for a regulation
Title 3 – Chapter 3 a (new)
CHAPTER III A INSTITUTIONAL COOPERATION
2009/02/18
Committee: ECON
Amendment 389 #

2008/0217(COD)

Proposal for a regulation
Article 28 c (new)
Article 28 c Rating agencies shall cooperate with the public institutions of the European Union in discharging their duties and their management shall appear before the relevant European Parliament committee if invited to do so.
2009/02/18
Committee: ECON
Amendment 453 #

2008/0217(COD)

Proposal for a regulation
Annex II – point 10 a (new)
10bis. List of related organisations.
2009/02/18
Committee: ECON
Amendment 27 #

2008/0199(COD)

Proposal for a directive – amending act
Article 1 – point 1 a
Directive 94/19/EC
Article 1 – point 3 − point ii
(1a) Point (3)(ii) of Article 1 is replaced by the following: "(ii) a judicial authority has made a ruling for reasons which are directly related to the credit institution's financial circumstances which has the effect of suspending depositors' ability to make claims for restoring due and payable deposits against it, should that occur before the [...] determination has been made in accordance with point (i);".
2008/11/28
Committee: ECON
Amendment 28 #

2008/0199(COD)

Proposal for a directive – amending act
Article 1 – point 2 – subpoint a
Directive 94/19/EC
Article 4 – paragraph 5
5. In the cases referred to in paragraphs 1 to 4, Member States shall ensure that Deposit-guarantee Schemes cooperate with each otherDeposit-guarantee schemes shall cooperate with each other and the Member States shall adopt the necessary measures for such purpose. In addition, the Commission shall, by 30 June 2009, suggest measures relating to the procedures, the exchange of all relevant information and the interaction of all participants in the event of a possible cross-border crisis.
2008/11/28
Committee: ECON
Amendment 31 #

2008/0199(COD)

Proposal for a directive – amending act
Article 1 – point 2 – subpoint b
Directive 94/19/EC
Article 4 – paragraph 6
6. The Commission shall review the functioning of this Article andregularly and shall, if appropriate, propose amendments thereto.
2008/11/28
Committee: ECON
Amendment 34 #

2008/0199(COD)

Proposal for a directive – amending act
Article 1 – point 3 – subpoint a
Directive 94/19/EC
Article 7 – paragraph 1 – subparagraph 2
By 31 December 2009 at the latest, coverage shall be increased to at least EUR 100 000.
2008/11/28
Committee: ECON
Amendment 45 #

2008/0199(COD)

Proposal for a directive – amending act
Article 1 – point 3 – subpoint d
Directive 94/19/EC
Article 7 – paragraph 6 a (new)
6a. Member States shall ensure that deposit-guarantee schemes are pre- funded.
2008/11/28
Committee: ECON
Amendment 4 #

2008/0196(COD)

Proposal for a directive
Recital 8
(8) Full harmonisation of some key regulatory aspects willUnless otherwise specified and in accordance with Article 169 of the Treaty on the Functioning of the European Union, the measures laid out in the present directive should not prevent Member States from maintaining or introducing measures providing for a higher level of consumer protection. However, full harmonisation of some key regulatory aspects is justified to ensure a consistent framework of consumer protection across the European Union and to considerably increase legal certainty for both consumers and business. B in cross border transactions. In these cases, both consumers and business will be able to rely on a single regulatory framework based on clearly defined legal concepts regulating certain aspects of business-to-consumer contracts across the Community. The effect will bshould be that consumers enjoy a high common level of protection across the European Unions, contribute to eliminate the barriers stemming from the inadequate fragmentation of the rules and to complete the internal market in this area. These barriers can only be eliminated by establishing uniform rules at Community level. Furthermore consumers will enjoy a high common level of protection across the Community.
2010/06/11
Committee: ECON
Amendment 5 #

2008/0196(COD)

Proposal for a directive
Recital 11
(11) TWhilst the existing Community legislation on consumer financial services contains numerous rules on consumer protection. For this reason the provisions of this Directive cover contracts relating to financial services only insofar as this is necessary to fill the regulatory gaps, consumers in the field of financial services should profit of the measures provided in the present directive insofar as this is necessary to fill the regulatory gaps. These measures should also apply horizontally where a higher level of consumer protection that the one provided in the special financial national or EU legislation is granted.
2010/06/11
Committee: ECON
Amendment 10 #

2008/0196(COD)

Proposal for a directive
Recital 11 a (new)
(11a) The Union should aim to achieve a European Charter of Consumer Rights in the field of financial services. The Charter should bring together and simplify all existing provisions, specify rights such as access to information, control of own financial records, adequate advice and consumer education, promote financial inclusion, incorporate best practices from Member States, facilitate collective redress and encourage stakeholder's participation. Additionally, an annual report should evaluate the fulfilment across the Union of the measures provided for in the Charter.
2010/06/11
Committee: ECON
Amendment 15 #

2008/0196(COD)

Proposal for a directive
Article 1 – paragraph 1
The purpose of this Directive is to contribute to the proper functioning of the internal market and achieve a high level of consumer protectionachieve a high level of consumer protection ensuring the proper functioning of the internal market by approximating certain aspects of the laws, regulations and administrative provisions of the Member States concerning contracts between consumers and traders.
2010/06/11
Committee: ECON
Amendment 16 #

2008/0196(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 2
(2) 'trader' means any natural or legal person who, in contracts covered by this Directive, is acting for purposes relating to his trade, business, craft or profession and anyone acting in the name of or on behalf of a trader; in the case of financial services, the special requirements provided for in the EU sectorial financial legislation should be regarded;
2010/06/11
Committee: ECON
Amendment 17 #

2008/0196(COD)

Proposal for a directive
Article 3 – paragraph 2
2. This Directive shall only apply to financial services as regards certain off- premises contracts as provided for by Articles 8 to 20, unfair contract terms as provided for by Articles 30 to 39 and general provisions aswithout prejudice to national or EU special financial legislation provideding for by Articles 40 to 46, read in conjunction with Article 4 on full harmonisaa higher level of consumer protection.
2010/06/11
Committee: ECON
Amendment 26 #

2008/0196(COD)

Proposal for a directive
Article 4
Member States may not maintain or introduce, in their national law, provisions diverging from thoseUnless otherwise specified and in accordance with Article 169 of the Treaty on the Functioning of the European Union, the measures laid downout in this Directive, including more or less stringent provisions to ensure a different e present directive shall not prevent Member States from maintaining or introducing measures providing for a higher level of consumer protection.
2010/06/11
Committee: ECON
Amendment 31 #

2008/0196(COD)

Proposal for a directive
Article 5 – paragraph 3 a (new)
3a. In the case of unsolicited marketing in the field of financial services and for those transactions not linked to the purchase of a non financial good or service, the above mentioned information requirements must be provided by the trader at least 5 days before the conclusion of any financial contract.
2010/06/11
Committee: ECON
Amendment 67 #

2008/0196(COD)

Proposal for a directive
Article 45
The consumer shall be exempted from the provision of any consideration in cases of unsolicited supply of a product as prohibited by Article 5(5) and point 29 of Annex I of Directive 2005/29/EC. The absence of a response from the consumer following such an unsolicited supply shall not constitute consent. Not withstanding the right of objection of employees, this shall not prevent employers from automatically enrolling employees into their workforce pension schemes if this was out on employers contributions. It should also not prevent the tacit renewal of insurance, credit and other financial contracts whereby they are automatically renewed upon expiry following explicit contract provisions.
2010/06/11
Committee: ECON
Amendment 28 #

2008/0191(COD)

Proposal for a directive – amending act
Recital 3
(3) Therefore, it is important to lay down criteria for those capital instruments to be eligible for original own funds of credit institutions and to align the provisions in Directive 2006/48/EC to that agreement. The amendments to Annex XII to Directive 2006/48/EC result directly from the establishment of those criteria. The eligibility criteria should refer to the most subordinated instruments of a credit institution that does not have proprietors or shareholders under national law, such as certain members' certificates of cooperative banks, insofar as the respective capital has been paid up and while taking into account the importance of strong core capital base to be able to absorb losses and maintain lending during periods of severe economic and financial stress. The amendments to Annex XII to Directive 2006/48/EC result directly from the establishment of those criteria. Original own funds referred to in Article 57(a) of Directive 2006/48/EC include all instruments that are regarded as equity capital, rank after all other claims during liquidation and fully absorb losses pari passu with ordinary shares on a going concern basis. These instruments may include instruments providing preferential rights for dividend payment on a non cumulative basis, provided that they are included in Article 22 of Directive 86/635/EEC, rank after all other claims during liquidation and fully absorb losses on a going concern basis pari passu with ordinary shares. Original own funds referred to in Article 57(a) of Directive 2006/48/EC also include any other instrument under credit institutions' statutory terms taking into account the specific constitution of mutuals, cooperative societies and similar institutions and which are deemed broadly equivalent to ordinary shares in terms of their capital qualities. Instruments that do not ranks after all other claims. during liquidation or that do not absorb losses on a going concern basis pari passu with ordinary shares are included in the category of hybrids referred to in Article 57(ca) of Directive 2006/48/EC.
2009/01/19
Committee: ECON
Amendment 34 #

2008/0191(COD)

Proposal for a directive – amending act
Recital 5
(5) For the purpose of strengthening the crisis management framework of the Community, it is essential that competent authorities coordinate their actions with other competent authorities and where appropriate with central banks in an efficient way. In order to strengthen the efficiency of prudential supervision of a banking group on a consolidated basis when parent credit institutions are authorised in the Community and to allow competent authorities to better carry out the supervision of a banking group on a consolidated basis, supervisory activities should be coordinated in a more effective manner. Therefore, Colleges of Supervisors should be established. The establishment of colleges should not affect the rights and responsibilities of the competent authorities under Directive 2006/48/EC. Their establishment should be an instrument for stronger cooperation whereby competent authorities reach agreement on key supervisory tasks. The colleges should facilitate the handling of ongoing supervision and emergency situations. The consolidating supervisor may, in association with the other members of the college, decide to organise meetings or activities that are not of general interest and therefore streamline the attendance as appropriate.
2009/01/19
Committee: ECON
Amendment 36 #

2008/0191(COD)

Proposal for a directive – amending act
Recital 7
(7) Competent authorities should be able to participate in colleges established for the supervision of credit institutions the parent institution of which is situated in a third country. The Committee of European Banking Supervisors should provide, where necessary, for non-binding guidelines and recommendations in order to enhance the convergence of supervisory practices pursuant to Directive 2006/48/EC. In order to avoid inconsistencies and regulatory arbitrage, which could result from differences in the approaches and rules applied by various colleges, guidelines on the proceedings of rules governing colleges should be developed by the Committee of European Banking Supervisors.
2009/01/19
Committee: ECON
Amendment 39 #

2008/0191(COD)

Proposal for a directive – amending act
Recital 8 a (new)
(8a) Colleges of supervisors are a considerable step forward in streamlining coordination and joint decision in the process of EU supervisory cooperation and convergence, and a temporary step towards a new European architecture of supervision. In order to achieve the necessary level of EU supervisory coherence and to underpin the stability of the financial system, further supervisory integration should be pursued. Such integration should result in a decentralised European System of Banking Supervisors building on the model of the European System of Central Banks. To this purpose, by 31 January 2010, the Commission should review Article 129 of Directive 2006/48/EC and submit any appropriate proposals while taking into account the proposal of the High Level Group on cross-border financial supervision as well as the recent resolutions adopted by the European Parliament that refer to this issue.
2009/01/19
Committee: ECON
Amendment 46 #

2008/0191(COD)

Proposal for a directive – amending act
Recital 14 a (new)
(14a) In order to avoid regulatory overlaps or inconsistencies, the obligations on External Credit Assessment Institutions (ECAIs), such as those concerning integrity, disclosure, transparency and accountability, should be consistent and coherent.
2009/01/19
Committee: ECON
Amendment 49 #

2008/0191(COD)

Proposal for a directive – amending act
Recital 15
(15) It is important to remove misalignment between the interest of firms that 're-package' loans into tradable securities and other financial instruments (originators) and firms that invest in these securities or instruments (investors). It is also important to distinguish securitisations, where the interests of the originator or sponsor and the interests of investors are aligned, because, for example, the originator or sponsor retains a relevant interest in the underlying assets, from those where they are not aligned. There should be differentiated regulation for these two types of securitisation, including as concerns penalties for non-compliance. In addition, such regulation needs to be proportionate. It is therefore important for originators to retain exposure to the risk of the loans in question. In particular where credit risk is transferred by securitisation, investors should make their decisions only after conducting thorough due diligence, for which they need adequate information about the securitisations. The measures to address the potential misalignment of these structures need to be consistent and coherent in all relevant financial sector regulation. The Commission should put forward appropriate legislative proposals to ensure such consistency and coherence.
2009/01/19
Committee: ECON
Amendment 56 #

2008/0191(COD)

Proposal for a directive – amending act
Recital 19 a (new)
(19a) The crisis has underlined a need to examine how regulation and supervision of financial services should take into account the business and economic cycles. In particular, it is evident that banks need to build strong capital buffers and dynamic provisions through-the-cycle that can be used during a downturn. The crisis has also called into question the assumptions concerning correlations that underlie the methodology for calculating regulatory capital. The failure of risk evaluation on liquidity and complex financial products was clear. A related concern is whether geographic, sector and similar concentration risks are adequately dealt with. Furthermore, the divergences related to the definition of basic concepts as own capital or default are creating market distortions and an unlevel playing field for EU based entities. Therefore, by 31 January 2010, the Commission should review this Directive as whole to address all these issues (and, especially, the effects on the economic cycle, taking into account how valuation, leverage, bank capital and provisioning may exacerbate cyclical and unbalanced trends, and to promote stability with through-the- cycle provisioning). By 31 January 2010, the Commission should present a report to the Parliament and the Council and any appropriate proposals. In both cases having in mind that financial rules should, where possible, be defined at international level.
2009/01/19
Committee: ECON
Amendment 172 #

2008/0191(COD)

Proposal for a directive – amending act
Article 1 – point 27
Directive 2006/48/EC
Article 122a – paragraph 2 – subparagraph 2
Paragraph 1 shall not apply either to syndicated loanto: (i) transactions based on an index from regulated markets, where the underlying reference entities are identical to those that make up an index of entities that is widely traded, or are other tradable securities other than securitisation positions; (ii) syndicated loans, purchased receivables or credit default swaps where these instruments are not used to package and/or hedge an oblig securitisation that is covered by paragraph 1.;
2009/01/19
Committee: ECON
Amendment 175 #

2008/0191(COD)

Proposal for a directive – amending act
Article 1 – point 27
Directive 2006/48/EC
Article 122a – paragraph 2 – subparagraph 2 – point ii a (new)
(iia) when the originator or sponsor of the securitisation concerned, or (in the case where the securitised exposures were not originated by the originator or sponsor) the original regulated lender of the securitised exposures, either: - originated the securitised exposures and retains a relevant interest in the securitised exposures concerned; or - otherwise has a relevant interest in common with the investors in the securitisation positions concerned or in the ongoing performance of the securitised exposures concerned.
2009/01/19
Committee: ECON
Amendment 244 #

2008/0191(COD)

Proposal for a directive – amending act
Article 1 – point 28 – point b
Directive 2006/48/EC
Article 129 – paragraph 3 – subparagraph 2
For the purposes of point (a), tThe joint decision shall be reached sixtwo months after submission by the consolidating supervisor of a report containing the risk assessment of the group in accordance with Articles 124 and 123 to the other relevant competent authorities.
2009/01/19
Committee: ECON
Amendment 253 #

2008/0191(COD)

Proposal for a directive – amending act
Article 1 – point 28 – point b
Directive 2006/48/EC
Article 129 – paragraph 3 – subparagraph 5
In the absence of such a joint decision between the competent authorities within six mtwo months, the decision on ths, the consolidating supervisor shall make its owne application of Articles 74(2), 123, 124 and 136(2) shall be made by consolidating supervisor on consolidated level. The decision on the application of Articles 74(2), 123, 124 and 136 (2) shall be taken by the competent authorities responsible for supervision of subsidiaries of and EU parent credit institution or an EU parent financial holding company on an individual or sub-consolidated basis. When making a decision, the relevant competent authority shall take into account the views and reservations expressed by the consolidating supervisor or by the supervisor of the subsidiary respectively. The decision shall be set out in a document containing the fully reasoned decision and shall take into account the views and reservations of the other competent authorities expressed during the sixtwo months period. The decision shall be provided to the other competent authorities by the consolidating supervisor.
2009/01/19
Committee: ECON
Amendment 273 #

2008/0191(COD)

Proposal for a directive – amending act
Article 1 – point 33 a (new)
Directive 2006/48/EC
Article 156 – paragraph -1 (new)
(33a) In Article 156, the following paragraph -1 is inserted: "By 31 January 2010, the Commission shall review this Directive as whole to address how this Directive should take into account the economic cycle, deal with the liquidity risk, control the complex instruments and improve the internal market (at least by harmonising basic concepts in banking activity and facilitating intragroup exposures under supervisory scrutiny and the possibility of working with homogeneous group processes at European level). The review should take into account how valuation, leverage, bank capital and provisioning may exacerbate cyclical trends, and should promote through-the- cycle provisioning. The Commission shall, by 31 January 2010 submit a report on the above issues to the Parliament and to the Council with any appropriate proposals."
2009/01/19
Committee: ECON
Amendment 2 #

2008/0182(COD)

Proposal for a directive – amending act
Article 1 – point 2
Directive 78/855/EEC
Article 6 – paragraph 2
Such publication shall not be required from a company if, for a continuous period beginning not later than one month before the day fixed for the general meeting, it makes available the draft terms of merger on its own or on any other Internet site, should it have no Internet site of its own, or, if it does have its own site, makes available on that site the relevant reference and hyperlink. Where a company makes use of this possibility it shall publish a reference that gives access to that Internet site on the central electronic platform referred to in Article 3(4) of Directive 68/151/EEC. That reference shall include the date of the publication of the draft terms of merger on the Internet site.
2009/01/30
Committee: ECON
Amendment 3 #

2008/0182(COD)

Proposal for a directive – amending act
Article 1 – point 5 – point b
Directive 78/855/EEC
Article 11 – paragraph 3 – subparagraph 2
Without prejudice to the provisions of the preceding paragraph, where a shareholder has consented to the use, by the company, of electronic means for conveying information, copies may be provided by electronic mail.
2009/01/30
Committee: ECON
Amendment 6 #

2008/0182(COD)

Proposal for a directive – amending act
Article 2 – point 1
Directive 82/891/EEC
Article 4 – paragraph 2
Such publication shall not be required from a company if, for a continuous period beginning not later than one month before the day fixed for the general meeting, it makes available the draft terms of merger on its own or on any other Internet site, should it have no Internet site of its own, or, if it does have its own site, makes available on that site the relevant reference and hyperlink. Where a company makes use of this possibility it shall publish a reference that gives access to that Internet site on the central electronic platform referred to in Article 3(4) of Directive 68/151/EEC. That reference shall include the date of the publication of the draft terms of merger on the Internet site.
2009/01/30
Committee: ECON
Amendment 7 #

2008/0182(COD)

Proposal for a directive – amending act
Article 2 – point 5 – point b
Directive 82/891/EEC
Article 9 – paragraph 3 – subparagraph 2
Without prejudice to the provisions of the preceding paragraph, where a shareholder has consented to the use, by the company, of electronic means for conveying information, copies may be provided by electronic mail.
2009/01/30
Committee: ECON
Amendment 10 #

2008/0182(COD)

Proposal for a directive – amending act
Article 3 – point 1
Directive 2005/56/EC
Article 6 – paragraph 1 – subparagraph 2
Such publication shall not be required from a company if, for a continuous period beginning not later than one month before the day fixed for the general meeting, it makes available the draft terms of merger on its own or on any other Internet site, should it have no Internet site of its own, or, if it does have its own site, makes available on that site the relevant reference and hyperlink. Where a company makes use of this possibility it shall publish a reference that gives access to that Internet site on the central electronic platform referred to in Article 3(4) of Directive 68/151/EEC. That reference shall include the date of the publication of the draft terms of merger on the Internet site.
2009/01/30
Committee: ECON
Amendment 7 #

2008/0083(COD)

Proposal for a directive – amending act
Article 1
Directive 68/151/EEC
Article 3 – paragraph 4 – subparagraph 1
4. Disclosure of the documents and particulars referred to in Article 2 shall be effected by publication through a central electronic platform that allows access to the company information disclosed in chronological and thematic order.
2008/09/18
Committee: ECON
Amendment 10 #

2008/0083(COD)

Proposal for a directive – amending act
Article 1
Directive 68/151/EEC
Article 3 – paragraph 4 – subparagraph 2
Member states shall ensure that companies are not charged a specific fee in respect of the publication obligation through a central electronic platform orand that any additional publication obligation imposed by Member States relating to those documents and particulars is accompanied by an alternative arrangement that does not require the payment of specific fees.
2008/09/18
Committee: ECON
Amendment 15 #

2008/0083(COD)

Proposal for a directive – amending act
Article 2
Directive 89/666/EEC
Article 4 – paragraph 1
1. The Member State in which the branch has been opened may stipulate that the documents referred to in points (b) and (c) of Article 2(2) and in Article 3 must be published in an official language of the Community other than the official language of the register referred to in point (c) of Article 2(1), and that the translation of such documents must be certified. A translation shall be deemed certified where it has been certified in a procedure accepted by the administrative orand judicial authorities of any other Member State.
2008/09/18
Committee: ECON
Amendment 16 #

2008/0083(COD)

Proposal for a directive – amending act
Article 3 – paragraph 1 – subparagraph 2 a (new)
2a. Member States conducting programmes promoting public access to digital information may, on a transitional basis, maintain any current additional obligations regarding publication in the national or regional press until 2012.
2008/09/18
Committee: ECON
Amendment 1 #

2007/2288(INI)

Draft opinion
Paragraph -A (new)
-A. Stresses that the progressive evolution of financial knowledge is a key element for improving the workings of the financial markets, encouraging their development and exploiting their potential.
2008/07/28
Committee: ECON
Amendment 2 #

2007/2288(INI)

Draft opinion
Paragraph -A a (new)
-Aa. Stresses that financial education can be developed through information, teaching and evaluation activities aimed at instructing citizens so that they become more aware regarding financial risks and opportunities, can take decisions on an informed basis, and know where to obtain help and take effective action in order to improve their financial wellbeing.
2008/07/28
Committee: ECON
Amendment 3 #

2007/2288(INI)

Draft opinion
Paragraph -A b(new)
-Ab. Stresses the need for financial education programmes conceived so as to meet the diverse needs of the community, progressively covering all financial products and services and correctly utilising the various communication platforms available; calls on public authorities, financial institutions, players in society, the media, education and assessment professionals and consumer organisations to cooperate closely in improving the financial information provided to the public; calls on the Commission to submit a European programme for financial education.
2008/07/28
Committee: ECON
Amendment 7 #

2007/2288(INI)

Draft opinion
Paragraph B a (new)
Ba. Is concerned at the growth in the financial information deficit among some population groups arising from such phenomena as immigration and the increasing sophistication of financial products.
2008/07/28
Committee: ECON
Amendment 11 #

2007/2288(INI)

Draft opinion
Paragraph C a (new)
Ca. Calls for the development of specific programmes for both children and immigrants, aimed at instructing future consumers regarding the products of the banking system and facilitating awareness of European financial practices on the part of those arriving in the EU;
2008/07/28
Committee: ECON
Amendment 15 #

2007/2288(INI)

Draft opinion
Paragraph D
D. ;Suggests that an introduction to or basic courses in economics and finances should be introduced into teaching and adapted to the different levels of education, and that it should stressstressing, at the basic levels, sound management of the family budget and proper use of the most common financial products in particular;
2008/07/28
Committee: ECON
Amendment 1 #

2007/2287(INI)

Motion for a resolution
Recital A a (new)
Aa. whereas retail banking plays a decisive role in the proper transmission of monetary policy conditions to the market, particularly to small businesses and consumers,
2008/03/17
Committee: ECON
Amendment 27 #

2007/2287(INI)

Motion for a resolution
Paragraph 8
8. Recognises the option of a 28th legal framework, such as the Common Reference Framework, as a possible new approach to European regulation, to enable cross-border market choice to be provided to a uniformly high consumer protection standard; calls on the Commission again to put forward a time- frame for developing a 28th legal framework;deleted
2008/03/17
Committee: ECON
Amendment 37 #

2007/2287(INI)

Motion for a resolution
Paragraph 9
9. Opposes standardised products, as these underminein so far as the aim of greater product diversity is undermined, and emphasises the aim of greater product diversity; portance of increasing comparability between basic products to strengthen confidence, encourage competition in the industry and bolster consumer protection;
2008/03/17
Committee: ECON
Amendment 72 #

2007/2287(INI)

Motion for a resolution
Paragraph 16
16. Recognises the great importance of financial service brokers in providing financial services from other Member States to private clients and small businesses; calls on the Commission to create a framework that will strengthen this industrial sectorlarify and harmonise the legal framework for such brokers, in accordance with the principle ‘Same business, same risks, same rules’;
2008/03/17
Committee: ECON
Amendment 2 #

2007/2201(INI)

Motion for a resolution
Recital A a (new)
Aa. considering the essential role played by retail banks in passing on, as appropriate, monetary policy conditions to the market, particularly to SMEs and consumers,
2008/03/26
Committee: ECON
Amendment 6 #

2007/2201(INI)

Motion for a resolution
Recital E a (new)
Ea. Whereas the diversity of legal models and business objectives of the financial entities in the retail banking sector (banks, savings banks, cooperatives, etc) is a fundamental asset to the European economy which enriches the sector, corresponds to the pluralist structure of the market and helps to increase competition in the internal market,
2008/03/26
Committee: ECON
Amendment 8 #

2007/2201(INI)

Motion for a resolution
Paragraph 1
1. Supports the integrated approach of the Commission consisting of supporting internal market policies with well-targeted sector inquiries; regrets nevertheless that there has been no examination of how monetary policy conditions are passed on to the retail market and the timing of this sector inquiry and encourages the Commission to follow up its work once the Capital Adequacy Directive, the Single European Payment Area (SEPA), the Payment Services Directives and the Consumer Credit Directive will have demonstrated their effects in practice;
2008/03/26
Committee: ECON
Amendment 68 #

2007/2201(INI)

Motion for a resolution
Paragraph 12
12. Is of the opinion that decentralised banking networks such as for example some saving and cooperative banks guarantee the continuity of financial markets even in smaller and remote markets; stresses that pluralistic banking markets and diversity of providers enhance competition throughout the EU banking market while ensuring the financing of the local economy and facilitating access to financial services for all customers;
2008/03/26
Committee: ECON
Amendment 70 #

2007/2201(INI)

Motion for a resolution
Paragraph 12 a (new)
12a. Maintains that non-discriminatory cooperation between independent credit entities, which as they are still competing with each other is more efficient and ensures greater interoperability and variety of services to the end customers, can help the sector to function and contribute to achieving the objectives of paragraph 12;
2008/03/26
Committee: ECON
Amendment 19 #

2007/0267(CNS)

Proposal for a directive – amending act
Article 1 – point 2
Directive 2006/112/EC
Article 135a – point 1
(1) 'insurance and reinsurance' means a commitment whereby aone or more person iss are obliged, in return for a payment, to provide anone or more other persons, in the event of materialisation of a risk, with an indemnity or a benefit as determined by the commitment;
2008/06/17
Committee: ECON
Amendment 27 #

2007/0267(CNS)

Proposal for a directive – amending act
Article 1 – point 2
Directive 2006/112/EC
Article 135a – point 9
(9) 'intermediation in insurance and financial transactions' means the supply of services rendered to, and remunerated by, a contractual party as a distinct act of mediationperformance of a distinct act of mediation or of canvassing of customers in relation to the insurance or financial transactions referred tomentioned in points (a) to (e) of Article 135(1), this service being rendered to, and remunerated by, a third party intermediaryny counterparty of the intermediary, provided that the intermediary is not a counterparty in those insurance or financial transactions;
2008/06/17
Committee: ECON
Amendment 39 #

2007/0267(CNS)

Proposal for a directive – amending act
Article 1 – point 4
Directive 2006/112/EC
Article 137a – paragraph 1
1. From 1 January 2012, Member States shall allow taxable persons a right of option for taxation in respect of the services referred to in points (a) to (g) of Article 135(1e) and in point (g) of Article 135(1). This option may not be exercised in relation to the services governed by point (f) of Article 135(1) and by Article 135(1a).
2008/06/17
Committee: ECON
Amendment 42 #

2007/0267(CNS)

Proposal for a directive – amending act
Article 1 – point 4
Directive 2006/112/EC
Article 137a – paragraph 2 – subparagraph 1 a (new)
All measures for the above purpose must, in any event, conform to the following principles: (a) the option of making a transaction taxable or otherwise shall invariably rest with the taxable person; (b) the option may be exercised from one transaction to another.
2008/06/17
Committee: ECON
Amendment 58 #

2007/0249(COD)

Proposal for a regulation
Recital 11
(11) At the same time, a number of problems were identified, including in particular issues relating to its organisational structure, the skills mix and the size of its operational staff, and logistical difficulties. The key functions of ENISA should evolve so as to form a core component of the Authority, which on the basis of a clearer identification of objectives and tasks, should ensure that those objectives and tasks can be fulfilled in a more efficient, focused and cost effective manner, consistent with the principles of better regulation, by a single authority with competence over matters falling within the EU regulatory framework for electronic communications networks and services.deleted
2008/05/23
Committee: ECON
Amendment 21 #

2007/0197(COD)

Proposal for a regulation
Title
Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL establishing an Agency for the Cooperation of Energy Regulators European Energy Regulators Agency (This amendment applies throughout the text, and if it is adopted, the requisite changes will have to be made throughout)
2008/03/07
Committee: ECON
Amendment 22 #

2007/0197(COD)

Proposal for a regulation
Recital 4
(4) The European Council in the spring of 2007 invited the Commission to propose measures to set up an independent mechanism for national regulators to co- operateenergy-regulating bodies to cooperate with each other and take decisions on important cross-border issues.
2008/03/07
Committee: ECON
Amendment 23 #

2007/0197(COD)

Proposal for a regulation
Recital 4 a (new)
(4a) So as to achieve the objectives of the energy policy for Europe, the Member States need to cooperate closely and eliminate obstacles to cross-border exchanges. Providing themselves with an independent instrument to plug the existing gap meets the double objective of incorporating the European perspective in the national regulatory authorities’ exercise of their powers, and of contributing to the effectiveness of the Community principles of equal treatment, fair conditions of access to the trans- European networks for transporting gas and electricity, and the smooth running of the internal market. The European Energy Regulators Agency is to be established as an organisation so that the national regulatory authorities can step up their cooperation from a European perspective and participate, on common bases, in the exercise of Europe-related functions.
2008/03/07
Committee: ECON
Amendment 26 #

2007/0197(COD)

Proposal for a regulation
Recital 6
(6) The Agency should ensure that regulatory functions performed at national level by the national regulatory authorities in accordance with Directive 2003/54/EC and Directive 2003/55/EC are properly coordinated and, where necessary, completed at the Community level. To that end, it is necessary to guarantee the independence of the Agency, its technical and regulatory capacities and its members, its technical capacity and its capacity for regulatory development and its transparency, democratic control and efficiency.
2008/03/07
Committee: ECON
Amendment 31 #

2007/0197(COD)

Proposal for a regulation
Recital 8
(8) It is appropriate to provide an integrated framework within which national regulatory authorities are able to participate and cooperate. This framework should facilitate the uniform application of the legislation on the internal market for electricity and gas throughout the Community. As regards situations concerning more than one Member State, the Agency should be granted the power to adopt individual decisions. This power should cover the regulatory regime for infrastructure connecting at least two Member States, exemptions from the internal market rules for new electricity interconnectors and new gas infrastructures located in more than one Member State.
2008/03/07
Committee: ECON
Amendment 33 #

2007/0197(COD)

Proposal for a regulation
Recital 9
(9) Since the Agency has an overview of the national regulatory authorities and other sources, it should have an advisory role towards the Commission, the other institutions of the European Union and the national regulatory authorities of at least two Member States as regards market regulation issues. It should also be required to inform the Commission where it finds that the cooperation between transmission system operators does not produce the results which are needed or that a national regulatory authority whose decision has violated guidelines is not willing to comply with the Agency’s opinion.
2008/03/07
Committee: ECON
Amendment 35 #

2007/0197(COD)

Proposal for a regulation
Recital 10
(10) The Agency should also be able to issue non-bindingdraw up documents listing good practice and issue guidelines to assist regulatory authorities, transport network managers and market players in sharing good practices and have guidelines for acting in keeping with Community principles within the framework of the energy policy for Europe.
2008/03/07
Committee: ECON
Amendment 39 #

2007/0197(COD)

Proposal for a regulation
Recital 13
(13) The Agency should have the necessary powers to perform the regulatory functions in an efficient, transparent, well- founded and reasoned and above all independent manner. The independence of regulatory authorities is not only a key principle of good governance but also and a fundamental condition to ensure market confidence. Reflecting the situation on a national and Community level, the Board of Regulators and its members should therefore act independently from any market interest or conflict of interests and shall not seek or take instructions or recommendations from any government or other public or private entity.
2008/03/07
Committee: ECON
Amendment 42 #

2007/0197(COD)

Proposal for a regulation
Recital 14
(14) Where the Agency has decision- making powers, interested parties should, for reasons of procedural economy, be granted a right of appeal to a Board of Appeal, which should be part of the Agency, but independent from its administrative and regulatory structure. The final decisions should be susceptible of being appealed against in the Court of Justice of the European Communities.
2008/03/07
Committee: ECON
Amendment 43 #

2007/0197(COD)

Proposal for a regulation
Recital 17
(17) The Agency should apply the general rules regarding public access to documents held by Community bodies. The Administrative board should approve the protocols and should establish the practical measures to protect commercially sensitive data and personal data.
2008/03/07
Committee: ECON
Amendment 45 #

2007/0197(COD)

Proposal for a regulation
Recital 19
(19) Since the objectives of the proposed action, the participation and cooperation of national regulatory authorities at Community level, cannot be sufficiently achieved by the Member States and can therefore, be better achieved at Community level, the Community may adopt measures, in accordance with the principle of subsidiarity as set outenshrined in Article 5 of the Treaty. In accordance with the principle of proportionality, as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve those objectives in question,
2008/03/07
Committee: ECON
Amendment 55 #

2007/0197(COD)

Proposal for a regulation
Article 4 – point (c) a (new)
(ca) draw up documents listing good practice and adopt guidelines in accordance with the provisions of Articles 6 and 7;
2008/03/07
Committee: ECON
Amendment 56 #

2007/0197(COD)

Proposal for a regulation
Article 4 – point (d)
(d) take individual decisions in specific cases referred to in Articles 6, 7 and 8.
2008/03/07
Committee: ECON
Amendment 59 #

2007/0197(COD)

Proposal for a regulation
Article 5 a (new)
5a. The Agency shall maintain an open, transparent and regular dialogue with the organisations which represent existing interests in the sector, and shall consult the interested parties prior to the adoption of all documents concerning them.
2008/03/07
Committee: ECON
Amendment 68 #

2007/0197(COD)

Proposal for a regulation
Article 6 – paragraph 6 a (new)
6a. The Agency shall, in keeping with its programme of work, or if asked to do so by the Commission, shall draw up documents listing good practices and adopt guidelines that contain guidelines for protecting the principles of non- discrimination, effective competition and efficient operation of the market when drawing up technical and commercial codes, the draft annual programme of work or the draft 10-year investment plan; the guidelines shall be non-binding, except when they have been endorsed by the appropriate regulatory procedure.
2008/03/07
Committee: ECON
Amendment 69 #

2007/0197(COD)

Proposal for a regulation
Article 6 – paragraph 6 b (new)
6b. The Agency shall supervise the application of the guidelines it adopts in connection with the previous paragraph, and shall - on its own initiative, at the request of the Commission or of a competent authority, or at the request of an interested operator - be able to adopt decisions in order to put on record whether those for whom they were destined have put them into effect.
2008/03/07
Committee: ECON
Amendment 72 #

2007/0197(COD)

Proposal for a regulation
Article 7 – paragraph 2
2. The Agency may, in accordance with its work programme or at the request of the Commission, adopt non-binding guidelinesshall draw up documents listing good practice to assist regulatory authorities and market players in sharing good practicwithin the framework of the energy policy for Europe. It shall also be able to adopt guidelines that contain guidelines for protecting the principles of non- discrimination, effective competition and efficient operation of the market when drawing up technical and commercial codes, the draft annual programme of work or the draft 10-year investment plan; the guidelines shall be non-binding, except when they have been endorsed by the appropriate regulatory procedure.
2008/03/07
Committee: ECON
Amendment 77 #

2007/0197(COD)

Proposal for a regulation
Article 8 – paragraph 2 a (new)
2a. The Agency may carry out other tasks on behalf of the Commission or the national regulatory authorities, when such tasks are susceptible of being entrusted to it, and shall do so within the terms set out in the document empowering it to carry out the tasks in question.
2008/03/07
Committee: ECON
Amendment 79 #

2007/0197(COD)

Proposal for a regulation
Article 9 – paragraph 1
1. The Administrative Board shall be composed of twelveeight members. SixTwo shall be appointed by the Commission, and six by the Council. The term of office shall be five years, renewable once. Half the members of the Board shall be replaced every two and a half years; when this replacement is made, an appropriate gender-mainstreaming approach shall be taken, and the presence of nationals from the various Member States ensured over time; the first replacement will be carried out by lot on a proportional basis between members appointed by the Council and the Commission
2008/03/07
Committee: ECON
Amendment 83 #

2007/0197(COD)

Proposal for a regulation
Article 9 – paragraph 1 a (new)
1a. The members of the Administrative Board shall act independently, and shall abstain from any acts incompatible with the nature of their duties, submitting on an annual basis documentary proof, in the shape of a signed declaration, that there are no conflicts of interest with the Agency’s activities.
2008/03/07
Committee: ECON
Amendment 101 #

2007/0197(COD)

Proposal for a regulation
Article 13 – paragraph 1
1. The Agency shall be managed by its Director, who shall act independently in the exercise of his functions shall act independently and in accordance with the decisions of the Board of Regulators. Without prejudice to the respective powers of the Commission, the Administrative Board and the Board of Regulators, the Director shall not seek or accept any instruction or recommendation from any government or from any public or private body.
2008/03/07
Committee: ECON
Amendment 102 #

2007/0197(COD)

Proposal for a regulation
Article 13 – paragraph 2
2. The Director shall be appointed by the Administrative Board, on the basis of merit as well as skills and experience, from a list of at least two candidates stated to be suitable by the relevant European Parliament Committee from among minimum of three proposed by the Commission, following a call for expression of interest. Before appointmTo this entd, the candidate selected by the Administrative Board mays proposed shall be invited to make a statement before the competent committee of the European Parliament and answer questions put by its members.
2008/03/07
Committee: ECON
Amendment 126 #

2007/0197(COD)

Proposal for a regulation
Article 30 a (new)
Review The Regulatory Board shall, with regard to evaluations of the Agency, submit review proposals. The first review proposal shall specifically assess whether the Agency should be abolished and replaced by an alternative, independent mechanism.
2008/03/07
Committee: ECON
Amendment 80 #

2007/0143(COD)

Proposal for a directive
Recital 19 a (new)
(19a) References in this Directive to ‘actuarial’ should be widely interpreted to comprise the range of technical aspects that form part of the essential substance of the insurance business and should not, therefore, necessary be linked or limited to a concrete profession, to the extent that the increasing complexity of certain aspects of the insurance business may lead to a wider range of professionals participating to develop appropriately the actuarial function.
2008/06/30
Committee: ECON
Amendment 81 #

2007/0143(COD)

Proposal for a directive
Recital 21
(21) In order to guarantee transparency insurance and reinsurance undertakings should disclose publicly at least annually essential information on their solvency and financial condition. Undertakings should be allowed to disclose publicly additional information on a voluntary basis. References in this Directive to public disclosure of information should mean making the information generally available in a systematised, understandable and manageable manner, giving customers and other users access as easily and speedily as possible and at a low and reasonable cost. Use of electronic facilities would meet this essential principle to the extent that the information publicly disclosed is adequately systematised, its electronic location is centralised, and it is widely accessible.
2008/06/30
Committee: ECON
Amendment 95 #

2007/0143(COD)

Proposal for a directive
Recital 38
(38) Provision should be made to lay down a standard formula for the calculation of the Solvency Capital Requirement, to enable all insurance and reinsurance undertakings to assess their economic capital. For the structure of the standard formula, a modular approach should be adopted, which means that the individual exposure to each risk category should be assessed in a first step and then aggregated in a second step. Where the use of undertaking-specific parameters allows for the true underwriting risk profile of the undertaking to be better reflected, this should be allowed, provided such parameters are derived using a standardised methodology. In particular, the use of undertaking-specific parameters may be applicable in cases of national specific features, such as mutual entities covering professional liabilities, where such long- term liabilities are subject to national regulations.
2008/06/30
Committee: ECON
Amendment 99 #

2007/0143(COD)

Proposal for a directive
Recital 43 a (new)
(43a) The Minimum Capital Requirement identifies the amount of basic own funds below which policyholders and beneficiaries are exposed to an unacceptable level of risk if insurance and reinsurance undertakings were allowed to continue their operations. The amount of the Minimum Capital Requirement ensures that an insurer cannot continue its activity if it is exposed to ruin in 1 out of 20 cases, with a probability of ruin of no more than 5 %, to meet their obligations to policyholders and beneficiaries over the forthcoming 12 months.
2008/06/30
Committee: ECON
Amendment 149 #

2007/0143(COD)

Proposal for a directive
Article 27 – title
Main objective of supervision under this Directive
2008/06/30
Committee: ECON
Amendment 158 #

2007/0143(COD)

Proposal for a directive
Article 27 − paragraph 1 a (new)
1a. Member States shall also ensure that the supervisory authorities in the framework of the economic and monetary union are able to prevent systemic risks, protect the financial stability and achieve the objectives of the Community.
2008/06/30
Committee: ECON
Amendment 159 #

2007/0143(COD)

Proposal for a directive
Article 28 – paragraph 1
1. Supervision shall be based on a prospective and risk-oriented approach cyclically and temporarily adjusted. It shall include the verification on a continuous basis of the proper operation of the insurance or reinsurance business and of the compliance with supervisory provisions by insurance and reinsurance undertakings.
2008/06/30
Committee: ECON
Amendment 163 #

2007/0143(COD)

Proposal for a directive
Article 29 – paragraph 2 – subparagraph 1
Financial supervision pursuant to paragraph 1 shall include verification, with respect to the entire business of the insurance and reinsurance undertaking, of its state of solvency, of the establishment of technical provisions, of its assents and of the eligible own funds, in accordance with the rules laid down or practices followed in the Member State under provisions adopted at Community level.
2008/06/30
Committee: ECON
Amendment 192 #

2007/0143(COD)

Proposal for a directive
Article 44 – paragraph 6
6. The insurance and reinsurance undertakings shall inform the supervisory authorities of the results of each own risk and solvency assessment as part of the information reported under Article 35. Where appropriate, that information shall include the actions the insurance or reinsurance undertaking has adopted to solve any non-compliance according paragraph 1(b) or any significant deviation according paragraph 1(c), and the results obtained from those actions.
2008/06/30
Committee: ECON
Amendment 201 #

2007/0143(COD)

Proposal for a directive
Article 49 – point 1
(1) the elements of the systems referred to in Articles 41, 43, 45 and and 43 to 46, and in particular the areas to be covered by the asset – liability management and investment policy, as referred to in Article 43(2), of insurance and reinsurance undertakings;
2008/06/30
Committee: ECON
Amendment 209 #

2007/0143(COD)

Proposal for a directive
Article 52 – paragraph 3 – subparagraph 1 a (new)
Where the insurance or reinsurance undertaking maintains an electronic location, the information referred to in this Section shall be publicly disclosed in a common format, updated regularly and accessible at a single electronic location.
2008/06/30
Committee: ECON
Amendment 228 #

2007/0143(COD)

Proposal for a directive
Article 74 – paragraph 1 – subparagraph 1 – introductory part
1. Member States shall ensure that, unless otherwise statedfor solvency purposes, insurance and reinsurance undertakings value assets and liabilities as follows:
2008/06/30
Committee: ECON
Amendment 230 #

2007/0143(COD)

Proposal for a directive
Article 74 – paragraph 1 – subparagraph 1 – point a
(a) assets shall be valued at the amount for which they could be exchanged between knowledgeable willing parties in an arm's length transaction; if such amount is objectively observable in a deep and liquid market or may be obtained applying generally accepted methods which provide values meeting the market consistency principle referred to in Article 75(3);
2008/06/30
Committee: ECON
Amendment 231 #

2007/0143(COD)

Proposal for a directive
Article 74 – paragraph 1 – subparagraph 1 – point b
(b) liabilities shall be valued at the amount for which they could be transferred, or settlsettled with policyholders or beneficiaries, or transferred, between knowledgeable willing parties in an arm's length transaction.
2008/06/30
Committee: ECON
Amendment 232 #

2007/0143(COD)

Proposal for a directive
Article 74 – paragraph 1 – subparagraph 1 a (new)
Assets that cannot be valued according the criteria, referred to in point (a) of the first subparagraph shall be valued with prudent and objective criteria, appropriate to produce an adequate solvency assessment.
2008/06/30
Committee: ECON
Amendment 233 #

2007/0143(COD)

Proposal for a directive
Article 74 – paragraph 1 – subparagraph 1 b (new)
All assets shall be appropriately taking into account in the calculation of Solvency Capital Requirement.
2008/06/30
Committee: ECON
Amendment 234 #

2007/0143(COD)

Proposal for a directive
Article 74 – paragraph 1 – subparagraph 1 c (new)
Unless there is evidence that an insurance undertaking will not settle its liabilities, they shall not be valued at below the market consistent value of the funds that the insurance or reinsurance undertaking is required to meet.
2008/06/30
Committee: ECON
Amendment 237 #

2007/0143(COD)

Proposal for a directive
Article 74 – paragraph 2 – subparagraph 1
2. The Commission shall adopt, implementing measures to set out: (a) the methods, and assumptions and simplifications to be used in the valuation of assets and liabilities as laid down in ; (b) the requirements to ensure that a valuation reliably and objectively reflects the value of transfer of an asset; (c) the rules of valuation of assets without a reliable and objective value of transfer, to deliver a prudent and objective value for those assets; (d) the rules applicable to value the liabilities, other than technical provisions, of insurance and reinsurance undertakings; (e) any other measure to guarantee the highest level of harmonisation of principles and practices stated in this subparagraph 1. .
2008/06/30
Committee: ECON
Amendment 240 #

2007/0143(COD)

Proposal for a directive
Article 75 – paragraph 2
2. The calculation of technical provisions shall be based on their current exit value current value of all future cash flows necessary to the settlement or transfer of all remaining obligations of existing insurance contracts.
2008/06/30
Committee: ECON
Amendment 261 #

2007/0143(COD)

Proposal for a directive
Article 87 – paragraph 2
The excess amount referred to in point (1) shall be reduced by the amount of own shares directly held by the insurance or reinsurance undertaking. Basic own funds shall be reduced in the amount of own funds that have not been economically maintained in the insurance or reinsurance undertaking, such as own shares held by the insurance or reinsurance undertaking, or any other form of financing the shareholders of the insurance or reinsurance undertaking. In particular, the solvency assessment at individual level of a participating undertaking with the meaning of Article 210, shall deduct basic own funds with any amount committed as group support in accordance with Articles 234 to 247.
2008/06/30
Committee: ECON
Amendment 262 #

2007/0143(COD)

Proposal for a directive
Article 89 – paragraph 1 – subparagraph 1 a (new)
The amount ascribed to each ancillary own fund item shall reflect the loss- absorbency of the item in situations covered by Article 101(3), and shall be based upon prudent and realistic assumptions.
2008/06/30
Committee: ECON
Amendment 263 #

2007/0143(COD)

Proposal for a directive
Article 89 – paragraph 2 – introductory part
2. For each ancillary own fund item, the supervisory authorities shall base their approval on an assessment in situations covered by Article 101(3) of the following:
2008/06/30
Committee: ECON
Amendment 264 #

2007/0143(COD)

Proposal for a directive
Article 89 – paragraph 3
3. The amount of each ancillary own fund item shall be equal to its nominal value unless either of the following conditions are fulfilled: (a) the item does not have a nominal value or has a maximum nominal value; (b) the nominal value does not reflect the loss-absorbency of the item In those cases, the amount of the item to be taken into account for the determination of ancillary own funds shall be based upon prudent and realistic assumptions.deleted
2008/06/30
Committee: ECON
Amendment 288 #

2007/0143(COD)

Proposal for a directive
Article 93 - paragraph 1 - introductory part
1. Own fund items shall be classified into three tiers on the basis of. The classification of those items shall depend upon whether they are basic own fund or ancillary own fund items and the extent to which they possess the following characteristics:
2008/06/30
Committee: ECON
Amendment 289 #

2007/0143(COD)

Proposal for a directive
Article 93 - paragraph 1 - point a (new)
(a) the item is available, or can be called up on demand, to absorb losses fully on a going-concern basis, as well as in the case of winding-up (permanent availability);
2008/06/30
Committee: ECON
Amendment 290 #

2007/0143(COD)

Proposal for a directive
Article 93 - paragraph 1 - point 1
(1b) in the case of winding-up, the total amount of the item is available to absorb losses and the repayment of the item is refused to its holder until all other obligations, including insurance and reinsurance obligations towards policyholders and beneficiaries of insurance and reinsurance contracts, have been met (subordination);
2008/06/30
Committee: ECON
Amendment 291 #

2007/0143(COD)

Proposal for a directive
Article 93 - paragraph 1 - points 2 to 5
(2) the total amount of the item, rather than only part of it, is available to absorb losses in the case of winding-up (loss- absorbency); (3) the item is available, or can be called up on demand, to absorb losses on a going-concern basis, as well as in the case of winding-up (permanence); (4) the item is not dated, or has a duration which is sufficient taking into account the duration of the insurance and reinsurance obligations of the undertaking (perpetuality); (5) the item is free from mandatory fixed charges and requirements or incentives to redeem the nominal sum, and is clear of any encumbrances (absence of mandatory servicing costs).deleted
2008/06/30
Committee: ECON
Amendment 292 #

2007/0143(COD)

Proposal for a directive
Article 93 - paragraph 1 a (new)
1a. When assessing the extent to which own fund items possess the characteristics set out in points (a) and (b) of paragraph 1, currently and in the future, due consideration shall be given to the duration of the item, in particular whether the item is dated or not. Where an own fund item is dated, the relative duration of the item shall be appropriately considered (sufficient duration). In addition, consideration will be given to whether the item is: (a) free from requirements or incentives to redeem the nominal sum (absence of incentives to redeem); (b) free from mandatory fixed charges (absence of mandatory servicing costs); (c) clear of encumbrances (absence of encumbrances).
2008/06/30
Committee: ECON
Amendment 293 #

2007/0143(COD)

Proposal for a directive
Article 94
1. Basic own fund items shall be classified in Tier 1 where they substantially possess the characteristics set out in points (1), (2a) and (3b) of Article 93, and, to a substantial degree, those set out in points (4) and (5) thereof(1), taking into consideration the features set out in Article 93(1a). 2. Basic own fund items sthall be classified in Tier 2 where they possesst possess substantially only the characteristics set out in points (1) and (2b) of Article 93, and to a substantial degree those set out in points (4) and (5) thereof. (1), shall be classified in Tier 2 or Tier 3 taking into consideration the features set out in Article 93(1a). 3. Ancillary own fund items shall be classified in Tier 2 where they substantially possess the characteristics set out in points (1), (2a) and (3b) of Article 93, and, to a substantial degree those set out in (4) and (5) thereof(1), taking into consideration the features set out in Article 93(1a). 34. Any basic and ancillary own fund items, which do not fall under paragraphs 1 and 2 shall be classified in Tier 3 that only possess substantially the characteristic set out in point (b) of Article 93(1), shall be classified in Tier 3 taking into consideration the features set out in Article 93(1a).
2008/06/30
Committee: ECON
Amendment 294 #

2007/0143(COD)

Proposal for a directive
Article 95 – paragraph 2
For that purpose, insurance and reinsurance undertakings shall refer to the list of own funds referred to in point (c) of Article 97(1), where applicable.
2008/06/30
Committee: ECON
Amendment 295 #

2007/0143(COD)

Proposal for a directive
Article 95 – paragraph 3
Where an own fund item is not covered by that list, it shall be assessed and classified by insurance and reinsurance undertakings, in accordance with the first paragraph. This assessment shall be approved by the supervisory authority.deleted
2008/06/30
Committee: ECON
Amendment 320 #

2007/0143(COD)

Proposal for a directive
Article 98 – paragraph 1 – point a
(a) in order to ensure that the proportion of Tier 1 items in the eligible own funds is higher than one third of the total eligible own funds, the eligible amount of Tier 2 together with the eligible amount of Tier 3 shall be limited to twice the total amount of Tier 1 items;
2008/06/30
Committee: ECON
Amendment 348 #

2007/0143(COD)

Proposal for a directive
Article 101 – paragraph 3 – subparagraph 2
It shall correspond to the Value-at-Risk of the basic own funds of an insurance or reinsurance undertaking subject to a confidence level of 99.5,5 % over a one-year period. The calibration of that confidence level shall be based on consistent premise, taking into account the economic cycle in order to prevent pro-cyclical capital requirements.
2008/06/30
Committee: ECON
Amendment 397 #

2007/0143(COD)

Proposal for a directive
Article 127 – paragraph -1 (new)
-1. In order to introduce a standardised safety net objectively assessed, and to prevent the risk of model contagion between the two capital requirements, the Minimum Capital Requirement shall be calculated independently from the Solvency Capital Requirement.
2008/06/30
Committee: ECON
Amendment 410 #

2007/0143(COD)

Proposal for a directive
Article 127 – paragraph 1 – point c
(c) the level of the Minimum Capital Requirement shall be calibrated to the Value-at-Risk of the basic own funds of an insurance or reinsurance undertaking subject to an average confidence level in the range of 80% to 90of 95 % over a one-year period;
2008/06/30
Committee: ECON
Amendment 418 #

2007/0143(COD)

Proposal for a directive
Article 127 – paragraph 1 – point d
(d) it shall have an absolute floor of 1 : (i) EUR 2 2000 000 EUR for non-life insurance aund reinsurance undertakings and 2 000 000 EUR for life insurance undertakings. ertakings, save in the event that all or some of the risks included in one of the classes 10 to 15 listed in point A of Annexe 1 are covered, in which case it shall be no less than EUR 3 200 000, (ii) EUR 3 200 000 for life insurance undertakings, (iii) EUR 3 200 000 for reinsurance undertakings, except in the case of captive reinsurance undertakings, in which case the Minimum Capital Requirement shall not be less than EUR 1 000 000.
2008/06/30
Committee: ECON
Amendment 431 #

2007/0143(COD)

Proposal for a directive
Article 130 – paragraph 2 – subparagraph 1
2. With respect to the whole portfolio of assets, insurance and reinsurance undertakings shall only invest in assets and instruments whose risks the undertaking concerned can properly monitor, manage and control, and take into account, as appropriate, in the assessment of its capital requirements and overall solvency needs.
2008/06/30
Committee: ECON
Amendment 439 #

2007/0143(COD)

Proposal for a directive
Article 132 – paragraph 1 – subparagraph 1
1. With respect to insurance risks situated in the Community, Member States shall ensure thatrequire insurance undertakings to localise their assets held to cover the technical provisions related to those risks are localised within the Communityonly in those jurisdictions that give full guarantees to transfer the assets to the Community under all circumstances, in particular at the first request of the supervisory authority of the Community having authorised the insurance undertaking. Member States shall not require insurance undertakings to localise those assets in any particular Member States.
2008/06/30
Committee: ECON
Amendment 452 #

2007/0143(COD)

Proposal for a directive
Article 180 a (new)
Article 180a Non-discrimination on the basis of genetics 1. Insurance and reinsurance undertakings shall not request, require, acquire, use or disclose genetic information for purposes of selection and acceptance of risks, premium rating, or the creation, renewal or replacement of the coverage. 2. The term ‘genetic information’ means any information about the content or even existence of an individual’s genetic tests; the genetic tests of family members of the individual; or the occurrence of a disease or disorder in family members of the individual. 3. The term ‘genetic information’ does not include information about the age of the assured person or sex, without prejudice of the regulations contained in Directive 2006/54/CE. 4. The term ‘genetic test’ means an analysis of human DNA, RNA, chromosomes, proteins, or metabolites, that detects genotypes, mutations, or chromosomal changes. 5. The term ‘genetic test’ does not mean an analysis of proteins or metabolites that does not detect genotypes, mutations, or chromosomal changes; or an analysis of proteins or metabolites that is directly related to a manifested disease, disorder, or pathological condition that could reasonably be detected by a health care professional with appropriate training and expertise in the field of medicine involved.
2008/06/30
Committee: ECON
Amendment 468 #

2007/0143(COD)

Proposal for a directive
Article 181 – paragraph 1 – subparagraph 2 a (new)
The insurance undertaking shall also inform the policyholder of the existence of declaration of group support, the percentage of group support used to cover the difference between the Minimum Capital Requirement and the Solvency Capital Requirement of that insurance undertaking and the responsibilities and powers of the subsidiary’s and group supervisors.
2008/06/30
Committee: ECON
Amendment 472 #

2007/0143(COD)

Proposal for a directive
Article 182 – paragraph 1 – subparagraph 1
1.Where non-life insurance is offered under the right of establishment or the freedom to provide services, the policyholder shall, before any commitment is entered into, be informed of the Member State in which the head office or, where appropriate, the branch with which the contract is to be concluded is situated. Furthermore, the insurance undertaking shall inform the policyholder of the supervisory authority responsible of supervising its solvency and the legislation applicable in case of winding up.
2008/06/30
Committee: ECON
Amendment 475 #

2007/0143(COD)

Proposal for a directive
Article 183 – paragraph 2 – point c a (new)
(ca) the supervisory authority responsible of the supervision of the solvency of the insurance undertaking and the law applicable in case of winding up;
2008/06/30
Committee: ECON
Amendment 477 #

2007/0143(COD)

Proposal for a directive
Article 183 – paragraph 2 – point c b (new)
(cb) the existence of declaration of group support, the percentage of group support used to cover the difference between the Minimum Capital Requirement and the Solvency Capital Requirement of that insurance undertaking and the responsibilities and powers of the subsidiary’s and group supervisors.
2008/06/30
Committee: ECON
Amendment 500 #

2007/0143(COD)

Proposal for a directive
Article 210 – paragraph 2 – subparagraph 1
2. For the purposes of this Title, the supervisory authorities shall also consider as a parent undertaking any undertaking which, in the opinion of the supervisory authorities, effectively exercises a dominant influence over another undertaking, within the meaning of Directive 2002/87/EC.
2008/06/30
Committee: ECON
Amendment 501 #

2007/0143(COD)

Proposal for a directive
Article 210 – paragraph 2 – subparagraph 2
They shall also consider as a subsidiary undertaking any undertaking over which, in the opinion of the supervisory authorities, a parent undertaking effectively exercises a dominant influence, within the meaning of Directive 2002/87/EC.
2008/06/30
Committee: ECON
Amendment 502 #

2007/0143(COD)

Proposal for a directive
Article 210 – paragraph 2 – subparagraph 3
They shall also consider as participation the holding, directly or indirectly, of voting rights or capital in an undertaking over which, in the opinion of the supervisory authorities, a significant influence is effectively exercised, within the meaning of Directive 2002/87/EC.
2008/06/30
Committee: ECON
Amendment 507 #

2007/0143(COD)

Proposal for a directive
Article 214 – paragraph 6
6. Where Member States allow their supervisory authorities to make the decision referred to in paragraph 1, they shall provide that no such decisions can be made or maintained where the ultimate participating undertaking at national level is a subsidiary of the ultimate participating undertaking at Community level referred to in Article 213 and the latter has obtained in accordance with Articles 235 or 247 permission for that subsidiary to be subject to Articles 236 to 241.deleted
2008/06/30
Committee: ECON
Amendment 508 #

2007/0143(COD)

Proposal for a directive
Article 217 – paragraph 1 – subparagraph 1
1. The group supervisor shall ensure that the calculations referred to in Article 216(2) and (3) and Article 250(4) (own risk assessment) are carried out at least once a year, either by the insurance or reinsurance undertakings or by the insurance holding company.
2008/06/30
Committee: ECON
Amendment 509 #

2007/0143(COD)

Proposal for a directive
Article 219 – paragraph 1 – subparagraph 4
Where in the opinion of the supervisory authorities, the responsibility of the parent undertaking owning a share of the capital is strictly limited to that share of the capital, the group supervisor may, after consultation with the other supervisory authority concerned, nevertheless allow for the solvency deficit of the subsidiary undertaking to be taken into account on a proportional basis.
2008/06/30
Committee: ECON
Amendment 510 #

2007/0143(COD)

Proposal for a directive
Article 220 – paragraph 2 – subparagraph 1 – introductory part
2. Without prejudice to paragraph 1, the following may only be included in the calculation in so far as they are eligible for covering the Solvency Capital Requirement of the related undertaking concerned and to the extent that it contributes to the group Solvency Capital Requirement:
2008/06/30
Committee: ECON
Amendment 512 #

2007/0143(COD)

Proposal for a directive
Article 220 – paragraph 3
3. If the supervisory authorities consider that certain own funds eligible for the Solvency Capital Requirement of a related insurance or reinsurance undertaking other than those referred to in paragraph 2 cannot effectively be made available to cover the Solvency Capital Requirement of the participating insurance or reinsurance undertaking for which the group solvency is calculated, those own funds may be included in the calculation only in so far as they are eligible for covering the Solvency Capital Requirement of the related undertaking and to the extent it contributes to the group Solvency Capital Requirement.
2008/06/30
Committee: ECON
Amendment 518 #

2007/0143(COD)

Proposal for a directive
Article 225 – paragraph 2 – subparagraph 2
The group supervisor shall consult the other supervisory authorities concerned, and the Committee of European Insurance and Occupational Pensions Supervisors, before taking a decision on equivalencesubmitting its proposal on equivalence to the Commission.
2008/06/30
Committee: ECON
Amendment 520 #

2007/0143(COD)

Proposal for a directive
Article 225 – paragraph 3 – subparagraph 1
3. The Commission shall adopt, after consultation of the European Insurance and Occupational Pensions Committee and in accordance with the procedure referred to in Article 304(2), a decision as to whether the solvency regime in a third country is equivalent to that laid down in Title I, Chapter VI, having in mind the principle of mutual recognition.
2008/06/30
Committee: ECON
Amendment 521 #

2007/0143(COD)

Proposal for a directive
Article 225 – paragraph 3 – subparagraph 2
These decisionsose decisions, designed to amend non- essential elements of this Directive, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 304(3). They shall be regularly reviewed to take into account any changes to the solvency regime laid down in Title I, Chapter VI, and to the solvency regime in the third country.
2008/06/30
Committee: ECON
Amendment 523 #

2007/0143(COD)

Proposal for a directive
Article 225 – paragraph 4 – subparagraph 1
4 When a decision adopted by the Commission in accordance with paragraph 3 concludes as to the equivalence of the solvency regime in a third country, paragraph 2 shall not apply.deleted
2008/06/30
Committee: ECON
Amendment 524 #

2007/0143(COD)

Proposal for a directive
Article 228 – paragraph 2 – subparagraph 2 – point a a (new)
(aa) the Minimum Capital Requirement, as referred to in Article 127, of the related insurance and reinsurance undertakings, when the minority interests have been included in the calculation of the own funds of the group in accordance with Article 220(3);
2008/06/30
Committee: ECON
Amendment 525 #

2007/0143(COD)

Proposal for a directive
Article 228 – paragraph 2 – subparagraph 2 – point b
(b) the proportional share of the Minimum Capital Requirement of the related insurance or reinsurance undertakings, where the minority interests have not been included in the calculation of the own funds of the group in accordance with Article 220(3).
2008/06/30
Committee: ECON
Amendment 526 #

2007/0143(COD)

Proposal for a directive
Article 228 – paragraph 2 – subparagraph 3
That minimum shall be covered by eligible basic own funds as determined in Article 98(5).
2008/06/30
Committee: ECON
Amendment 527 #

2007/0143(COD)

Proposal for a directive
Article 229 – paragraph 1 – subparagraph 2
An application as referred to in the first subparagraph shall be submitted only to the group supervisor and the supervisory authorities concerned.
2008/06/30
Committee: ECON
Amendment 528 #

2007/0143(COD)

Proposal for a directive
Article 229 – paragraph 1 – subparagraph 2 a (new)
An application referred to in the first subparagraph shall contain at least the following: - information necessary to assess the bases, implementation and impact of the group internal model. Such information shall enable a comprehensive assessment of the internal model in the group as a whole, and an assessment in each subsidiary where the application of the group internal model is requested, and shall provide an integration of both levels of analysis, -, - a proper understanding of the main causes of the difference between the group Solvency Capital Requirement and the sum of the Solvency Capital Requirement of each insurance and reinsurance undertaking in the group.
2008/06/30
Committee: ECON
Amendment 531 #

2007/0143(COD)

Proposal for a directive
Article 232 – paragraph 1
The Commission mayshall adopt implementing measures specifying the technical principles and methods to ensure uniform application within the Community. Those measures shall specify the criteria required in order to: (a) follow when deciding not to include an undertaking in the group supervision in accordance with Article 212(2)(c); (b) identify the casets outf urgency referred to in Articles 218 to 227 and2(2); (c) allow the application of the last paragraph of Articles 228 to 231 to ensure uniform application within the Community. 19(1); (d) determine whether or not certain own funds are available to cover the Solvency Capital Requirement at group level, as set out in Article 220(3); and (e) determine the extent of the solvency regime assessment referred to in Article 225.
2008/06/30
Committee: ECON
Amendment 532 #

2007/0143(COD)

Proposal for a directive
Title III – Chapter II – Section 1 – Subsection 6 – title
Subsection 6 - Group supportdeleted
2008/06/30
Committee: ECON
Amendment 533 #

2007/0143(COD)

Proposal for a directive
Title III – Chapter II – Section 1 – Subsection 6 – title
Subsection 6 - Group supportCapital in the group
2008/06/30
Committee: ECON
Amendment 534 #

2007/0143(COD)

Proposal for a directive
Article 234
Member States shall provide that the rules laid down in Articles 236 to 241 shall apply to any insurance or reinsurance undertaking which is the subsidiary of an insurance or reinsurance undertaking, on request of the latter, where all of the following conditions are satisfied: (a) the subsidiary, in relation to which the group supervisor has not made any decision under Article 212(2), is included in the group supervision carried out by the group supervisor at the level of the parent undertaking in accordance with this Title; (b) the risk management processes and internal control mechanisms of the parent undertaking cover the subsidiary and the parent undertaking satisfies the supervisory authorities concerned regarding the prudent management of the subsidiary; (c) the parent undertaking has declared, in writing and in a legally binding document accepted by the group supervisor in accordance with Article 237, that it guarantees that own funds eligible under Article 98(5) will be transferred where necessary and up to the limit resulting from the application of Article 237; (d) an application for permission to be subject to Articles 236 to 241 has been introduced by the parent undertaking and a favourable decision has been made on such application in accordance with the procedure set out in Article 235.4 deleted Subsidiaries of an insurance or reinsurance undertaking: conditions
2008/06/30
Committee: ECON
Amendment 536 #

2007/0143(COD)

Proposal for a directive
Article 234 – point c
(c) the parent undertaking has declared, in writing and in a legally binding document accepted by the group supervisor and the other supervisory authority concerned, in accordance with Article 237, that it guarantees that own funds eligible under Article 98(5) will be transferred where necessarytier 1 basic eligible own funds will be unconditionally transferred where required, in the form of appropriate assets at the request of either the group supervisor or the other supervisory authority concerned and up to the limit resulting from the application of Article 237;.
2008/06/30
Committee: ECON
Amendment 542 #

2007/0143(COD)

Proposal for a directive
Article 234 – point d
(d) an application for permission to be subject to Articles 236 to 241 has been introduced jointly by the parent undertaking and the subsidiary concerned and a favourable decision has been made on such application in accordance with the procedure set out in Article 235.
2008/06/30
Committee: ECON
Amendment 545 #

2007/0143(COD)

Proposal for a directive
Article 234 – point d a (new)
(da) the application contains adequate evidence demonstrating that group support requested for the subsidiary undertaking concerned does not exceed the share of the group diversification benefits attributable to this undertaking as determined by methods relying on verifiable economically consistent criteria.
2008/06/30
Committee: ECON
Amendment 551 #

2007/0143(COD)

Proposal for a directive
Article 235
Subsidiaries of an insurance or reinsurance undertaking: decision on the 1. In the case of applications for permission to be subject to the rules laid down in Articles 236 to 241, the supervisory authorities concerned shall work together, in full consultation, to decide whether or not to grant the permission sought and to determine the other terms and conditions, if any, to which such permission should be subject. An application as referred to in the first subparagraph shall be submitted only to the group supervisor. The group supervisor shall inform the other supervisory authorities concerned without delay. 2. The supervisory authorities concerned shall do everything within their power to reach a joint decision on the application within six months from the date of receipt of the complete application by the group supervisor. The group supervisor shall forward the complete application to the other supervisory authorities concerned without delay. The joint decision shall be set out in a document containing the fully reasoned decision which shall be transmitted to the applicant by the group supervisor. The joint decision referred to above shall be recognised as determinative and applied by the supervisory authorities in the Member States concerned. 3. In the absence of a joint decision between the supervisory authorities concerned within six months, the group supervisor shall make its own decision on the application. The decision shall be set out in a document containing the fully reasoned decision and shall take into account the views and reservations of the other supervisory authorities concerned expressed within a six months period. The decision shall be provided to the applicant and the other supervisory authorities concerned by the group supervisor. That decision shall be recognised as determinative and applied by the supervisory authorities concerned.5 deleted application
2008/06/30
Committee: ECON
Amendment 553 #

2007/0143(COD)

Proposal for a directive
Article 235 – paragraph 1 – subparagraph 2
An application as referred to in the first subparagraph shall be submitted only to the group supervisor and the other supervisory authorities concerned. The group supervisor shall inform the otherand each supervisory authoritiesy concerned without delayshall coordinate and exchange the information received in accordance with Articles 252, 253 and 254.
2008/06/30
Committee: ECON
Amendment 557 #

2007/0143(COD)

Proposal for a directive
Article 235 – paragraph 2 – subparagraph 1
2. The group supervisor and each supervisory authoritiesy concerned shall do everything within their power to reach a joint decision on the application within six months from the date of receipt ofwhen the complete application was received by the group supervisory authorities concerned.
2008/06/30
Committee: ECON
Amendment 561 #

2007/0143(COD)

Proposal for a directive
Article 235 – paragraph 2 – subparagraph 2
The group supervisor shall forward the complete application to the other supervisory authorities concerned without delay.deleted
2008/06/30
Committee: ECON
Amendment 563 #

2007/0143(COD)

Proposal for a directive
Article 235 – paragraph 2 – subparagraph 3
The joint decision shall be set out in a document containing the fully reasoned decision which shall be transmitted to the applicant by the group supervisor. The joint decision referred to above shall be recognised as determinative and applied by the supervisory authorities in the Member States concernedeach undertaking by its respective supervisory authority.
2008/06/30
Committee: ECON
Amendment 571 #

2007/0143(COD)

Proposal for a directive
Article 235 – paragraph 3
3. In the absence of a joint decision betweenDuring the first two months of the supervisory authorities conciod refernred within six monthsto in paragraph 2, the group supervisor shall make its own decision on the application. The decision shall be set out in a document containing the fully reasoned decision and shall take into account the views and reservations of the other supervisory authorities concerned expressed within a six months period. The decision shall be provided to the applicant and the other supervisory authorities concerned by the group supervisor. That decision shall be recognised as determinative and applied by the supervisory authorities concernedor any supervisory authority may make a request for the coordination arrangements provided for in Article 252 as regards the application of group support.
2008/06/30
Committee: ECON
Amendment 578 #

2007/0143(COD)

Proposal for a directive
Article 235 – paragraph 3 a (new)
3a. During the last two months of the period referred to in paragraph 2, the group supervisor shall, at the request of any of the other supervisory authorities concerned, consult the CEIOPS. The group supervisor may consult the Committee on its own initiative. When the Committee is consulted, the period referred to in paragraph 2 shall be extended by two months.
2008/06/30
Committee: ECON
Amendment 582 #

2007/0143(COD)

Proposal for a directive
Article 235 – paragraph 3 b (new)
3b. In the absence of a joint decision one month after the advice of CEIOPS, each supervisor may provide its decision, when it is in conformity with the advice of CEIOPS, to the insurance or reinsurance undertakings under their supervision. The decisions shall be set out in a document containing full reasons.
2008/06/30
Committee: ECON
Amendment 583 #

2007/0143(COD)

Proposal for a directive
Article 235 – paragraph 3 c (new)
3c. Where there is a joint decision, each supervisor concerned shall provide the decision to their respective insurance or reinsurance undertakings.
2008/06/30
Committee: ECON
Amendment 584 #

2007/0143(COD)

Proposal for a directive
Article 236
reinsurance undertaking: determination 1. By way of derogation from Articles 37 and 229, the Solvency Capital Requirement of the subsidiary shall be calculated as set out in paragraphs 2, 3 and 4. 2. Where the Solvency Capital Requirement of the subsidiary is calculated on the basis of an internal model approved at group level in accordance with Article 229 and the supervisory authority having authorised the subsidiary considers that its risk profile deviates significantly from this internal model, and as long as that undertaking does not properly address the concerns of the supervisory authority, that authority may, in the cases referred to in Article 37, propose to the group supervisor to impose a capital add-on to the Solvency Capital Requirement of that subsidiary resulting from the application of such model, or, in exceptional circumstances where such capital add-on would not be appropriate, to require that undertaking to calculate its Solvency Capital Requirement on the basis of the standard formula. The supervisory authority shall communicate the grounds for such proposals to both the subsidiary and the group supervisor. 3. Where the Solvency Capital Requirement of the subsidiary is calculated on the basis of the standard formula and the supervisory authority having authorised the subsidiary considers that its risk profile deviates significantly from the assumptions underlying the standard formula, and as long as that undertaking does not properly address the concerns of the supervisory authority, that authority may, in the cases referred to in Article 37, propose to the group supervisor to impose a capital add-on to the Solvency Capital Requirement of that subsidiary. The supervisory authority shall communicate the grounds for such proposal to both the subsidiary and the group supervisor. 4. Where the supervisory authority and the group supervisor disagree, or in the absence of a decision from the group supervisor within one month from the proposal of the supervisory authority, the matter shall be referred for consultation to the Committee of European Insurance and Occupational Pensions Supervisors, which shall give its advice within two months. The group supervisor shall duly consider such advice before taking its final decision. The decision shall be submitted to the subsidiary and the supervisory authority by the group supervisor. In the absence of a final decision from the group supervisor within one month from the date of the advice of the Committee of European Insurance and Occupational Pensions Supervisors, the proposal from the supervisory authority shall be deemed to have been accepted.Article 236 deleted Subsidiaries of an insurance or of the Solvency Capital Requirement
2008/06/30
Committee: ECON
Amendment 585 #

2007/0143(COD)

Proposal for a directive
Article 236 – paragraph 1
1. By way of derogation from Articles 37 and 229, the Solvency Capital Requirement of the subsidiary shall be calculated as set out in paragraphs 2, 3 and 4.deleted
2008/06/30
Committee: ECON
Amendment 590 #

2007/0143(COD)

Proposal for a directive
Article 236 – paragraph 2
2. Where the Solvency Capital Requirement of the subsidiary is calculated on the basis of an internal model approved at group level in accordance with Article 229 and the supervisory authority having authorised the subsidiary considers that its risk profile deviates significantly from this internal model, and as long as that undertaking does not properly address the concerns of the supervisory authority, that authority may, in the cases referred to in Article 37, propose toafter informing the group supervisor to, impose a capital add-on to the Solvency Capital Requirement of that subsidiary resulting from the application of such model, or, in exceptional circumstances where such capital add-on would not be appropriate, to require that undertaking to calculate its Solvency Capital Requirement on the basis of the standard formula. The supervisory authority that authorised the subsidiary shall communicate the grounds for such proposaldecisions to both the subsidiary and the group supervisor.
2008/06/30
Committee: ECON
Amendment 595 #

2007/0143(COD)

Proposal for a directive
Article 236 – paragraph 3 – subparagraph 1
3. Where the Solvency Capital Requirement of the subsidiary is calculated on the basis of the standard formula and the supervisory authority having authorised the subsidiary considers that its risk profile deviates significantly from the assumptions underlying the standard formula, and as long as that undertaking does not properly address the concerns of the supervisory authority, that authority may, in the cases referred to in Article 37, propose toafter informing the group supervisor to, impose a capital add- on to the Solvency Capital Requirement of that subsidiary.
2008/06/30
Committee: ECON
Amendment 598 #

2007/0143(COD)

Proposal for a directive
Article 236 – paragraph 3 – subparagraph 2
The supervisory authority that authorised the subsidiary shall communicate the grounds for such proposala decision to both the subsidiary and the group supervisor.
2008/06/30
Committee: ECON
Amendment 603 #

2007/0143(COD)

Proposal for a directive
Article 236 – paragraph 4
4. Where the supervisory authority and the group supervisor disagree, or in the absence of a decision from the group supervisor within one month from the proposal of the supervisory authority, the matter shall be referred for consultation to the Committee of European Insurance and Occupational Pensions Supervisors, which shall give its advice within two months. The group supervisor shall duly consider such advice before taking its final decision. The decision shall be submitted to the subsidiary and the supervisory authority by the group supervisor. In the absence of a final decision from the group supervisor within one month from the date of the advice of the Committee of European Insurance and Occupational Pensions Supervisors, the proposal from the supervisory authority shall be deemed to have been accepted.deleted
2008/06/30
Committee: ECON
Amendment 622 #

2007/0143(COD)

Proposal for a directive
Article 237
Subsidiaries of an insurance or reinsurance undertaking: coverage of the Solvency Capital Requirement 1. By way of derogation from Article 98(4), any difference between the Solvency Capital Requirement and the minimum capital requirement of the subsidiary shall be covered by either own funds eligible under Article 98(4) or group support, or any combination thereof. The group support shall, for the purposes of the classification of own funds into tiers in accordance with Articles 93 to 96, be treated as ancillary own funds. 2. The group support shall take the form of a declaration to the group supervisor, expressed in a legally binding document and constituting a commitment to transfer own funds eligible under Article 98(5). 3. Before accepting the declaration referred to in paragraph 2, the group supervisor shall verify the following: (a) that the group has sufficient eligible own funds to cover its consolidated group Solvency Capital Requirement; (b) that there is no current or foreseeable material practical or legal impediment to the prompt transfer of the eligible own funds referred to in paragraph 2; (c) that the document containing the declaration of group support meets all requirements existing under the law of the parent undertaking to be recognised as a legal commitment, and that any recourse before a legal or administrative body shall not have suspensive effect.Article 237 deleted
2008/06/30
Committee: ECON
Amendment 623 #

2007/0143(COD)

Proposal for a directive
Article 237 – paragraph 1 – subparagraph 1
1. By way of derogation from Article 98(4), any difference betweenTo benefit groups from the diversification effects of their business, but at the same time to avoid endangering the Ssolvency Capital Requirement and the minimum capital requirement of the subsidiaryof the group as a whole and of each subsidiary, and with due consideration for the necessity of giving an appropriate level of protection to all consumers of the group, diversification benefits attributable to a subsidiary determined in accordance with Article 234(da) shall be covered by eithera combination of own funds eligible under Article 98(4) orand group support, or any combination thereof.
2008/06/30
Committee: ECON
Amendment 630 #

2007/0143(COD)

Proposal for a directive
Article 237 – paragraph 1 – subparagraph 2
The group support shall, for the purposes of the classification of own funds into tiers in accordance with Articles 93 to 96, be treated as ancillary own funds belonging to Tier 3 and shall respect the limits set out in Article 98.
2008/06/30
Committee: ECON
Amendment 633 #

2007/0143(COD)

Proposal for a directive
Article 237 – paragraph 1 a (new)
1a. In order to preserve the stability of insurance markets and to provide a level playing field among insurance and other financial competitors, paragraph 1 shall be introduced under the following conditions: (a) the own funds of the subsidiary insurance or reinsurance undertaking eligible under Article 98(4) shall cover at least the sum of Minimum Capital Requirement and 75% of the difference between the Solvency Capital Requirement and the Minimum Capital Requirement. (b) the group has sufficient eligible own funds to cover its consolidated group Solvency Capital Requirement, and at least 75 % of the total amounts of group support declared with Tier 1 eligible own funds; (c) the calculation of the group Solvency Capital Requirement shall consider separately both positive and negative effects of belonging to a group, explicitly including risks such as contagion, reputation and strategy.
2008/06/30
Committee: ECON
Amendment 635 #

2007/0143(COD)

Proposal for a directive
Article 237 – paragraph 2
2. The group support shall take the form of a joint declaration to the group supervisor and the supervisory authority concerned, expressed in a legally binding document and constituting a commitment to transfer own funds eligible under Article 98(5). to the group supervisor and the supervisory authority of the subsidiary, and constituting a commitment to transfer Tier 1 basic eligible own funds in the form of assets set out in Article 234(c). The risks inherent in group support shall be considered in the calculation of the capital requirements of the subsidiary. Group support shall reduce the basic own funds of the participating undertaking when calculating its solvency position at individual level.
2008/06/30
Committee: ECON
Amendment 647 #

2007/0143(COD)

Proposal for a directive
Article 237 – paragraph 3 – introductory part
3. Before accepting the declaration referred to in paragraph 2, the group supervisor and the supervisory authority having authorised the subsidiary shall verify the following:
2008/06/30
Committee: ECON
Amendment 654 #

2007/0143(COD)

Proposal for a directive
Article 237 – paragraph 3 – point b
(b) that there is no current or foreseeable material practical or legal impediment to the prompt transfer of the eligible own funds referred to in paragraph 2 within one month after its requirement in the form of assets set out in Article 234(c). The parent undertaking shall, in particular, maintain appropriate measures to ensure its legal commitments to transfer funds due to group support;
2008/06/30
Committee: ECON
Amendment 658 #

2007/0143(COD)

Proposal for a directive
Article 237 – paragraph 3 – point c
(c) that the document containing the declaration of group support meets all requirements existing under the laws of the parent undertakingboth the group supervisor and the supervisory authority of the subsidiary to be recognised as a legal commitment, and that any recourse before a legal or administrative body shall not have suspensive effect.
2008/06/30
Committee: ECON
Amendment 662 #

2007/0143(COD)

Proposal for a directive
Article 237 – paragraph 3 – point c a (new)
(ca) that the legally binding document shall provide a guarantee of payment, on first demand, which can be amended only with prior approval of the supervisory authorities concerned. The guarantee provided shall be direct, explicit, irrevocable and unconditional, and the guarantor shall not amend any right that may impede or hinder the effectiveness of the guarantee.
2008/06/30
Committee: ECON
Amendment 663 #

2007/0143(COD)

Proposal for a directive
Article 237 – paragraph 3 – point c a (new)
(ca) that Member States, where duly justified, may allow their supervisory authorities to require that the group support declared by the parent undertaking in respect of a subsidiary which they have authorised must be covered by a guarantee provided by an undertaking which is not a related undertaking of the parent undertaking. Such undertaking shall be a credit institution or an insurance undertaking, and shall provide evidence that it meets its own regulatory capital requirements and has a top credit rating.
2008/06/30
Committee: ECON
Amendment 665 #

2007/0143(COD)

Proposal for a directive
Article 238
reinsurance undertaking: monitoring of 1. By way of derogation from Article 136, the supervisory authority having authorised the subsidiary shall not be responsible for enforcing its Solvency Capital Requirement by taking measures at the level of the subsidiary. That supervisory authority shall however continue to monitor the Solvency Capital Requirement of the subsidiary as set out in paragraphs 2 and 3. 2. Where the Solvency Capital Requirement is no longer fully covered by the combination of own funds eligible under Article 98(4) and the amount of group support declared in accordance with Article 237, but the own funds eligible under Article 98(5) are sufficient to cover the minimum capital requirement, the supervisory authority may call on the parent undertaking to provide a new declaration bringing the group support to the amount necessary to ensure that the Solvency Capital Requirement is again fully covered. 3. Where the Solvency Capital Requirement is no longer fully covered by the combination of own funds eligible under Article 98(4) and the amount of group support declared in accordance with Article 237, and the own funds eligible under Article 98(5) are not sufficient to cover the minimum capital requirement, the supervisory authority may call on the parent undertaking to transfer own funds eligible under Article 98(5) to the extent necessary to ensure that the minimum capital requirement is again covered, and to provide a new declaration bringing the group support to the amount necessary to ensure that the Solvency Capital Requirement is again fully covered. 4. Before accepting any new declaration referred to in paragraphs 2 or 3, the group supervisor shall verify that the conditions laid down in Article 237 are met. Where the parent undertaking does not provide the new declaration requested, or where the new declaration provided is not accepted, the derogations provided for in Articles 236 and 237 and in paragraph 1 shall cease to apply. The supervisory authority having authorised the subsidiary shall regain full responsibility for setting the Solvency Capital Requirement of the subsidiary and taking appropriate measures to ensure that it is adequately met by own funds eligible under Article 98(4). The parent undertaking shall however not be released from the commitment resulting from the most recent declaration accepted.Article 238 deleted Subsidiaries of an insurance or the Solvency Capital Requirement
2008/06/30
Committee: ECON
Amendment 668 #

2007/0143(COD)

Proposal for a directive
Article 238 – paragraph 1
1. By way of derogation from Article 136, the supervisory authority having authorised the subsidiary shall not be responsible for enforcing its Solvency Capital Requirement by taking measures at the level of the subsidiary. That supervisory authority shall however continue to monitor the Solvency Capital Requirement of the subsidiary as set out in paragraphs 2 and 3.deleted
2008/06/30
Committee: ECON
Amendment 678 #

2007/0143(COD)

Proposal for a directive
Article 238 – paragraph 2
2. Where the Solvency Capital Requirement is no longer fully covered by the combination of own funds eligible under Article 98(4) and the amount of group support declared in accordance with Article 237, but the subsidiary meets Article 237 and the own funds eligible under Article 98(5) are sufficient to cover the minimum capital requirement, the supervisory authority mayshall call on the parent undertaking to provide a new declaration bringing the group support to the amount necessary to ensure that the Solvency Capital Requirement is again fully covered.
2008/06/30
Committee: ECON
Amendment 684 #

2007/0143(COD)

Proposal for a directive
Article 238 – paragraph 3
3. Where the Solvency Capital Requirement is no longer fully covered by the combination of own funds eligible under Article 98(4) and the amount of group support declared in accordance with Article 237, and the own funds eligible under Article 98(5) are not sufficient to cover the minimum capital requirement, or the subsidiary does not meet the conditions laid down in Article 237, the supervisory authority mayshall call on the parent undertaking to transfer own funds eligible under Article 98(4) and (5) to the extent necessary to ensure that the minimum capital requirement is again coveredsubsidiary again meets the conditions laid down in Article 237, and to provide a new declaration bringing the group support to the amount necessary to ensure that the Solvency Capital Requirement is again fully covered.
2008/06/30
Committee: ECON
Amendment 690 #

2007/0143(COD)

Proposal for a directive
Article 238 – paragraph 4 – subparagraph 1
4. Before accepting any new declaration referred to in paragraphs 2 or 3, the group supervisor shall verify that thThe group supervisor and the supervisory authority having authorised the subsidiary will accept or deny a new declaration within one cmonditionsth, in accordance with the procedure laid down in Article 237 are met5.
2008/06/30
Committee: ECON
Amendment 696 #

2007/0143(COD)

Proposal for a directive
Article 238 – paragraph 4 – subparagraph 2
Where the parent undertaking does not provide the new declaration requested, or where the new declaration provided is not accepted, the derogations provided for in Articles 236 and 237 and in paragraph 1 shall cease to apply. parent undertaking shall transfer within one month the own funds resulting from the most recent declaration accepted, in form of elements under Article 98(4) and assets as set out in Article 234(c).
2008/06/30
Committee: ECON
Amendment 702 #

2007/0143(COD)

Proposal for a directive
Article 238 – paragraph 4 – subparagraph 3
The supervisory authority having authorised the subsidiary shall regain full responsibility for setting the Solvency Capital Requirement of the subsidiary and taking appropriate measures to ensure that it is adequately met by own funds eligible under Article 98(4). The parent undertaking shall however not be released from the commitment resulting from the most recent declaration accepted.
2008/06/30
Committee: ECON
Amendment 709 #

2007/0143(COD)

Proposal for a directive
Article 239
reinsurance undertaking: winding-up When the subsidiary is being wound up and found to be insolvent, the supervisory authority having authorised the subsidiary shall, on its own initiative or at the requArticle 239 deleted Subsidiariest of any other authority competent for the winding-up procedure by application of TITLE IV, call on the parent undertaking to transfer eligible own funds to the subsidiary, in so far as they are necessary to meet policyholder liabilities, up to the limit of the group support resulting from the most recent declaration accepted. insurance or
2008/06/30
Committee: ECON
Amendment 710 #

2007/0143(COD)

Proposal for a directive
Article 239 – title
Subsidiaries of an insurance or reinsurance undertaking: winding-up undertaking: other situations of call of the group support
2008/06/30
Committee: ECON
Amendment 711 #

2007/0143(COD)

Proposal for a directive
Article 239
WheIn the subsidiary is being wound up and found to be insolvent,event that the supervisory authority having authorised the subsidiary shall, on its own initiativdeems it necessary and proportionate for at the request of any other authority competent for the winding-up procedure by application of TITLE IV, call on the parent undertaking to transfer eligible own funds to the subsidiary, in so far as they are necessary to meet policyholder liabilities, up to the limit ofprotection of policyholders and the interests of beneficiaries to do so, the supervisory authority may, giving full reasons, call on the parent undertaking to transfer Tier 1 basic own funds eligible under Article 98(4) in the form of assets set out in Article 234(c) and 235, to the subsidiary up to the group support resulting from the most recent declaration accepted.
2008/06/30
Committee: ECON
Amendment 712 #

2007/0143(COD)

Proposal for a directive
Article 240
reinsurance undertaking: transfer of own 1. In the cases referred to in Articles 238 and 239, the supervisory authority shall address its request to the parent undertaking and immediately inform the group supervisor. Where the parent undertaking does not rapidly transfer eligible own funds to the subsidiary, the group supervisor shall use all powers available, including the power available under Article 142, to ensure that the group provides the requested transfer as soon as is practicable. 2. Group support may be provided from eligible own funds present in the parent undertaking or in any subsidiary, subject to that subsidiary, where it is an insurance or reinsurance undertaking, having eligible own funds in excess of its minimum capital requirement. The supervisory authority having authorised that subsidiary shall not prevent the transfer of such excess eligible own funds. However, where such transfer would lead to the Solvency Capital Requirement of that subsidiary being no longer complied with, it shall be subject to a declaration by the parent undertaking of the necessary level of group support and acceptance by the group supervisor. 3. Before accepting any new declaration made in accordance with paragraph 2, the group supervisor shall verify that the conditions laid down in Article 237 are met. However, where any transfer is carried out in accordance with paragraph 1, the group supervisor shall verify that the group continues to have sufficient eligible own funds to cover its group Solvency Capital Requirement. Where this requirement is no longer satisfied, the group supervisor shall take appropriate measures to ensure that the necessary actions are taken by the group within an acceptable period of time.40 deleted Subsidiaries of an insurance or funds
2008/06/30
Committee: ECON
Amendment 713 #

2007/0143(COD)

Proposal for a directive
Article 240 – paragraph 1 – subparagraph 2
Where the parent undertaking does not rapidly transfer eligible own funds to the subsidiary in form of assets as set out in Article 234(c), within one month after it has first been required by the supervisory authority that authorised the undertaking, the group supervisor shall: (a) use all powers available, including the power available under Article 142, to ensure that the group provides the requested transfer as soon as is practicable. within two months of its initial requirement, including the call to guarantees in accordance with Article 237(3)(e); (b) initiate the relevant procedure to impose, where appropriate, a proportionate and dissuasive sanction to the parent undertaking, and require sufficient compensation.
2008/06/30
Committee: ECON
Amendment 716 #

2007/0143(COD)

Proposal for a directive
Article 240 – paragraph 2 – subparagraph 1
2. Group support may only be provided from eligiblebasic own funds and assets present in the parent undertaking or in any subsidiary, subject to that subsidiary, subject to that parent undertaking, where it is an insurance or reinsurance undertaking, having eligible own funds in excess of its minimumsolvency capital requirement. The supervisory authority having authorised that subsidiary shall not prevent the transfer of such excess eligible own funds.
2008/06/30
Committee: ECON
Amendment 722 #

2007/0143(COD)

Proposal for a directive
Article 240 – paragraph 2 – subparagraph 2
However, where such transfer would lead to the Solvency Capital Requirement of that subsidiary being no longer complied with, it shall be subject to a declaration by the parent undertaking of the necessary level of group support and acceptance by the group supervisor.deleted
2008/06/30
Committee: ECON
Amendment 724 #

2007/0143(COD)

Proposal for a directive
Article 240 – paragraph 3
3. Before accepting any new declaration made in accordance with paragraph 2, the group supervisor shall verify that the conditions laid down in Article 237 are met. However, where any transfer is carried out in accordance with paragraph 1, the group supervisor shall verify that the group continues to have sufficient eligible own funds to cover its group Solvency Capital Requirement and group support declared as set out in Article 237. Where this requirement is no longer satisfied, the group supervisor shall inform the other supervisory authorities concerned and take appropriate measures to ensure that the necessary actions are taken by the group within an acceptable period of timtwo months of its non- compliance.
2008/06/30
Committee: ECON
Amendment 725 #

2007/0143(COD)

Proposal for a directive
Article 241
Subsidiaries of an insurance or reinsurance undertaking: disclosure The existence of declarations of group support, and any use thereof, shall be publicly disclosed by both the parent undertaking and the subsidiary concerned.Article 241 deleted
2008/06/30
Committee: ECON
Amendment 726 #

2007/0143(COD)

Proposal for a directive
Article 242
Subsidiaries of an insurance or reinsurance undertaking: end of derogations for a subsidiary 1. The derogations provided for in Articles 236, 237 and 238 shall cease to apply in the following cases: (a) the condition referred to in Article 234(a) is no longer complied with; (b) the condition referred to in Article 234(b) is no longer complied with and the group does not restore compliance with this condition in an appropriate period of time. In the case referred to in point (a) of the first subparagraph, where the group supervisor decides no longer to include the subsidiary in the group supervision it carries out, it shall immediately inform the supervisory authority concerned. For the purposes of point (b) of the first subparagraph, the parent undertaking shall be responsible for ensuring that the condition is complied with on an on-going basis. In the event of non-compliance, it shall inform the group supervisor and the supervisor of the subsidiary concerned without delay. The parent undertaking shall present a plan to restore compliance within an appropriate period of time. Without prejudice to the third subparagraph, the group supervisor shall verify at least once a year, on its own initiative, that the condition referred to in Article 234(b) continues to be complied with. The group supervisor shall also perform such verification upon request from the supervisory authority concerned, where the latter has significant concerns related to the ongoing compliance with this condition. Where the verification performed identifies weaknesses, the group supervisor shall require the parent undertaking to present a plan to restore compliance within an appropriate period of time. If the group supervisor determines that the plan referred to in the third or fourth subparagraph is insufficient or subsequently that it is not being implemented within the agreed period of time, the group supervisor shall conclude that the condition referred to in Article 234(b) is no longer complied with and it shall immediately inform the supervisory authority concerned. 2. When the derogations provided for in Articles 236, 237 and 238 cease to apply, the supervisory authority having authorised the subsidiary shall regain full responsibility for setting the Solvency Capital Requirement of the subsidiary and taking appropriate measures to ensure that it is adequately met by own funds eligible under Article 98(4). The parent undertaking shall however not be released from the commitments resulting from the most recent declarations accepted in accordance with Articles 237, 238 and 240.42 deleted
2008/06/30
Committee: ECON
Amendment 728 #

2007/0143(COD)

Proposal for a directive
Article 242 – paragraph 1 – subparagraph 1 – introductory part
1. The derogations provided for in Articles 236, 237 and 238 237 shall cease to apply in the following cases:
2008/06/30
Committee: ECON
Amendment 729 #

2007/0143(COD)

Proposal for a directive
Article 242 – paragraph 1 – subparagraph 1 – point b
(b) the conditions referred to in Article 234(b), (c) or (da) and Article 237 is no longer complied with and the group does not restore compliance with thisose conditions in an appropriate period of time.
2008/06/30
Committee: ECON
Amendment 731 #

2007/0143(COD)

Proposal for a directive
Article 242 – paragraph 1 – subparagraph 4
Without prejudice to the third subparagraph, the group supervisor and the supervisory authority concerned shall verify at least once a year, on its own initiative, that the condition referred to in Article 234(b) continues to be complied with. The group supervisor shall also perform such verification upon request from the supervisory authority concerned, where the latter has significant concerns related to the ongoing, (c) or (da) and Article 237 continues to be complianced with this condition. Where the verification performed identifies weaknesses, the group supervisor shall requireboth by the parent undertaking to present a pland tohe restore compliance within an appropriate period of timelated insurance and reinsurance undertaking.
2008/06/30
Committee: ECON
Amendment 732 #

2007/0143(COD)

Proposal for a directive
Article 242 – paragraph 1 – subparagraph 5
If the group supervisor or the supervisory authority concerned determines that the plan referred to in the third or fourth subparagraph is insufficient or subsequently that it is not being implemented within the agreed period of time, ithe group supervisor shall conclude that the condition referred to in Article 234(b) is no longer complied with and it shall immediately inform the other supervisory authority concerned.
2008/06/30
Committee: ECON
Amendment 733 #

2007/0143(COD)

Proposal for a directive
Article 242 – paragraph 2
2. When the derogations provided for in Articles 236, 237 and 238 237 cease to apply, the supervisory authority having authorised the subsidiary shall regain full responsibility for settingtake appropriate measures to ensure that the Solvency Capital Requirement of the subsidiary and taking appropriate measures to ensure that it is adequately met by own funds eligible under Article 98(4). The parent undertaking shall however not be released from the commitments resulting from the most recent declarations accepted in accordance with Articles 237, 238 and 240.
2008/06/30
Committee: ECON
Amendment 736 #

2007/0143(COD)

Proposal for a directive
Article 243
Subsidiaries of an insurance or reinsurance undertaking: end of derogations for all subsidiaries 1. In addition to the cases referred to in Article 242, the derogations provided for in Articles 236, 237 and 238 shall cease to apply in the following cases: (a) any of the conditions referred to in the third paragraph of Article 237 are no longer complied with and compliance is not restored within an appropriate period of time as set out in paragraph 2; (b) the group no longer has sufficient eligible own funds to cover the minimum consolidated group Solvency Capital Requirement referred to in Article 228(2). 2. In the case referred to in point (a) of paragraph 1, the parent undertaking shall be responsible for ensuring that all conditions are complied with on an on- going basis. In the event of non- compliance with any of these conditions, it shall inform the group supervisor and the supervisor of the subsidiary concerned without delay. The parent undertaking shall present a plan to restore compliance within an appropriate period of time. Without prejudice to the first subparagraph, the group supervisor shall verify at least once a year, on its own initiative, that the conditions referred to in the third paragraph of Article 237 continue to be complied with. Where the verification performed identifies deficiencies, the group supervisor shall require the parent undertaking to present a plan to restore compliance within an appropriate period of time. If the group supervisor determines that the plan referred to in the first or second subparagraph is insufficient or subsequently that it is not being implemented within the agreed period of time, the group supervisor shall conclude that the conditions referred to in the third paragraph of Article 237 are no longer complied with and it shall immediately inform the other supervisory authorities concerned. In the case referred to in point (b) of the first paragraph, the group supervisor shall immediately inform the other supervisory authorities concerned. 3. When the derogations provided for in Articles 236, 237 and 238 cease to apply, the supervisory authorities having authorised any subsidiary to which the rules laid down in Articles 236 to 241 apply shall regain full responsibility for setting the Solvency Capital Requirement of these subsidiaries and taking appropriate measures to ensure that it is adequately met by own funds eligible under Article 98(4). The parent undertaking shall however not be released from the commitments resulting from the most recent declarations accepted in accordance with Articles 237, 238 and 240. 4. Where the group has restored sufficient eligible own funds to cover the minimum consolidated group Solvency Capital Requirement referred to in Article 228(2), the derogations provided for in Articles 236, 237 and 238 shall be applicable only if the parent undertaking submits a new application and obtains a favourable decision in accordance with the procedure set out in Article 235.Article 243 deleted
2008/06/30
Committee: ECON
Amendment 741 #

2007/0143(COD)

Proposal for a directive
Article 244 – paragraph 1
1. Where several requests to transfer eligible own funds are addressed to the parent undertaking and the group supervisor in accordance with Articles 238 or 239, and the group does not have sufficient eligible own funds to meet all of those together, the amounts resulting from the most recent declarations accepted shall be reduced where necessary. The reduction shall be calculated for each subsidiary with a view to ensuring that each subsidiary is subject to the same ratio between the sum of its available assets and any transfer from the group on the one hand and the sum of its technical provisions and its minimum capital requirement on the other hand.deleted
2008/06/30
Committee: ECON
Amendment 743 #

2007/0143(COD)

Proposal for a directive
Article 244 – paragraph 1 – subparagraph 2 a (new)
The parent undertaking shall not, however, be released from the commitments to transfer the full amounts resulting from the most recent declarations accepted.
2008/06/30
Committee: ECON
Amendment 745 #

2007/0143(COD)

Proposal for a directive
Article 244 – paragraph 1
1. WIn order to guarantee that all policyholders of the group receive an equivalent and non-discriminatory level of protection, where several requests to transfer eligible own funds are addressed to the parent undertaking and the group supervisor in accordance with Articles 238 or 239, and the group does not have sufficient eligible own funds to meet all of those together, the group shall reallocate its own funds and the amounts resulting from the most recent declarations accepted shall be reduced where necessary. The reduction shall be calculated for each subsidiary with a view to ensuring that each subsidiary is subject to, in order to ensure that: (a) the parent undertaking and all the insurance or reinsurance undertakings with group support have the same ratio between the sum of its available assets and any transfer from the group on the one hand and the sum of its technical provisions and its minimumsolvency capital requirement on the other hand, (b) that the quality of tiers integrating their own funds is sufficiently similar.
2008/06/30
Committee: ECON
Amendment 747 #

2007/0143(COD)

Proposal for a directive
Article 244 – paragraph 2
2. Member States shall ensure that liabilities resulting from insurance contracts entered into by the parent undertaking are not treated more favourably than liabilities resulting from insurance contracts entered into by any subsidiary which is subject to the rules laid down in Articles 236 to 241.deleted
2008/06/30
Committee: ECON
Amendment 750 #

2007/0143(COD)

Proposal for a directive
Article 245
Subsidiaries of an insurance or reinsurance undertaking: implementing In order to ensure the uniform application of Articles 234 to 244, the Commission shall adopt implementing measures relating to the following: (a) specifying the criteria to be applied when assessing whether the conditions stated in Article 234 are satisfied; (b) specifying the criteria to be applied when verifying that the requirements stated in Article 237 are met; (c) specifying the means to be used when disclosing the information referred to in Article 241; (d) specifying the procedures to be followed by supervisory authorities when exchanging information, exercising their rights and fulfilling their duties in accordance with Articles 235 to 240 and Articles 242, 243 and 244. Those measures designed to amend non- essential elements of this Directive by supplementing it shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 304(3).45 deleted measures
2008/06/30
Committee: ECON
Amendment 753 #

2007/0143(COD)

Proposal for a directive
Article 246
Subsidiaries of an insurance or reinsurance undertaking: review The Commission shall submit to the European Insurance and Occupational Pensions Committee, at the latest five years after the date referred to in Article 310(1), a report on Member States' rules and supervisory authorities' practices adopted pursuant to this Subsection. This report shall address in particular the appropriate level of own funds which a subsidiary is required to hold where it belongs to a group fulfilling the conditions of this subsection, the form which group support is required to take, the allowable amount of group support and the level of own funds at which the derogations provided for in Articles 236, 237 and 238 shall cease to apply.Article 246 deleted
2008/06/30
Committee: ECON
Amendment 756 #

2007/0143(COD)

Proposal for a directive
Article 247
Subsidiaries of an insurance holding Articles 234 to 246 shall apply mutatis mutandis to insurance and reinsurance undertakings which are the subsidiary of an insurance holding47 deleted company.
2008/06/30
Committee: ECON
Amendment 757 #

2007/0143(COD)

Proposal for a directive
Article 248 – paragraph 2 - subparagraph 3
The risk concentrations at group level shall be subject to supervisory review by the group supervisor in accordance with Article 253.
2008/06/30
Committee: ECON
Amendment 759 #

2007/0143(COD)

Proposal for a directive
Article 248 – paragraph 3 - subparagraph 3
In order to identify significant risk concentration at group level to be reported, the group supervisor, after consultation of the other supervisory authorities concerned and the group, shall impose appropriate thresholds based on solvency capital or technical provisions or both.
2008/06/30
Committee: ECON
Amendment 760 #

2007/0143(COD)

Proposal for a directive
Article 248 – paragraph 3 - subparagraph 4
When reviewing the risk concentrations at group level, the group supervisor shall in particular monitor the possible risk of contagion in the group, the risk of a conflict of interests, and the level or volume of risks.
2008/06/30
Committee: ECON
Amendment 761 #

2007/0143(COD)

Proposal for a directive
Article 248 – paragraph 4 - subparagraph 1
4. The Commission may adopt implementing measures, as regards the definition and identification of a significant risk concentration at group level and the reporting on such a risk concentration, for the purposes of paragraphs 2 and 3.
2008/06/30
Committee: ECON
Amendment 763 #

2007/0143(COD)

Proposal for a directive
Article 250 – paragraph 3
3. The systems and reporting procedures at group level referred to in paragraphs 1 and 2 shall be subject to supervisory review by the group supervisor, in accordance with the rules laid down in Chapter III and Articles 253 and 254.
2008/06/30
Committee: ECON
Amendment 764 #

2007/0143(COD)

Proposal for a directive
Article 250 – paragraph 4 – subparagraph 1
4. Member States shall require the participating insurance or reinsurance undertaking or the insurance holding company to undertake at the level of the group the assessment required by Article 44. The own risk and solvency assessment conducted at group level shall be subject to supervisory review by the group supervisor in accordance with Chapter III and Articles 253 and 254.
2008/06/30
Committee: ECON
Amendment 767 #

2007/0143(COD)

Proposal for a directive
Article 250 – paragraph 4 – subparagraph 2
Where the participating insurance or reinsurance undertaking or the insurance holding company so decides, and subject to the agreement of the group supervisor and the supervisory authorities concerned, it may undertake any assessments required by Article 44 at the level of the group and at the level of any subsidiary in the group at the same time, and may produce a single document covering all the assessments. This information in that single document shall be presented in a way to allow the separate assessment of each insurance and reinsurance undertaking.
2008/06/30
Committee: ECON
Amendment 779 #

2007/0143(COD)

Proposal for a directive
Article 252 –Title
Rights and duties of the group supervisor – Coordination arrangements College of supervisors
2008/06/30
Committee: ECON
Amendment 784 #

2007/0143(COD)

Proposal for a directive
Article 252 – paragraph 2
2. In order to facilitate group supervision, the group supervisor and the other supervisory authorities concerned shall have coordination arrangements in place. Those coordination arrangements may entrust additional tasks to the group supervisor and may specify, without prejudice to any measure adopted pursuant to this Directive, the procedures for the decision-making process among the supervisory authorities concerned as referred to inestablish a single college of supervisors to coordinate the exercise of tasks referred to in Articles 253, 254 and 255. The college of supervisors shall assure that cooperation, exchange of information and consultation processes among the supervisory authorities of the college, are effectively applied in accordance with Title III of this Directive. Supervisors shall use the college to promote convergence of their respective decisions and to cooperate closely to carry out their supervisory activities across the group under harmonised criteria. The membership of the college shall include the supervisory authorities of all the Member States in which the parent undertaking, related undertakings and significant branches are operating. The activities of the college of supervisors shall be proportionate to the nature, scale and complexity of the group. Without prejudice to any measure adopted pursuant to this Directive, the setting up and functioning of colleges shall be based on a written agreement concluded by all the members of the college, reflecting the procedures necessary to achieve its objectives, including the processes related to the approval of the group internal model and the functioning of the group support regime. Provided that cooperation, convergence and exchange of information is appropriately guaranteed, the procedures of the college shall provide flexibility to allow arrangements among supervisory authorities, in the cases where this results in a more efficient supervision of the group, and it does not impair the supervisory activities of the members of the college in respect of their individual responsibilities. The college of supervisors shall be informed of any coordination arrangement among its members, and, in particular, before such coordination arrangements take effect when they entrust additional tasks to the group supervisor or other supervisory authorities concerned, or when they affect the application in practice of Articles 211(3), 212(2), and 213(2), Articles 214, 215, and 217, Articles 218(2), 219(2), and 225(2), Articles 236, 248, and 249, Article 251 (3) and (4), and Articles 254, 263 and 264 and for cooperation with other supervisory authorities.
2008/06/30
Committee: ECON
Amendment 789 #

2007/0143(COD)

Proposal for a directive
Article 252 – paragraph 2 a (new)
2a. CEIOPS shall elaborate guidelines for the operational functioning of colleges.
2008/06/30
Committee: ECON
Amendment 792 #

2007/0143(COD)

Proposal for a directive
Article 252 – paragraph 2 b (new)
2b. The college of supervisors shall have the possibility to request that CEIOPS provide advice or mediation when it considers appropriate to achieve a convergent supervision among colleges.
2008/06/30
Committee: ECON
Amendment 801 #

2007/0143(COD)

Proposal for a directive
Article 260 – paragraph 2 – introductory part
2. Where a participating insurance or reinsurance undertaking or an insurance holding company so decides, and subject to the previous agreement of the group supervisor and the supervisory authorities concerned, it may provide a single solvency and financial condition report which shall comprise the following:
2008/06/30
Committee: ECON
Amendment 802 #

2007/0143(COD)

Proposal for a directive
Article 260 – paragraph 2 – point b
(b) the information for any of the subsidiaries within the group which must be individually disaggregated and identifiable and disclosed in accordance with Articles 50 and 52 to 54, in such a way that the supervisor of the subsidiary has equivalent amount and access to the information as in the case of a separated report.
2008/06/30
Committee: ECON
Amendment 804 #

2007/0143(COD)

Proposal for a directive
Article 263 – paragraph 1 – subparagraph 2
The verification shall be carried out by the supervisory authority which would be the group supervisor if the criteria set out in Article 251(2) were to apply, at the request of the parent undertaking or of any of the insurance and reinsurance undertakings authorised in the Community or on its own initiative, unless the Commission had concluded previously in respect of the equivalence of the third country involved. That supervisory authority shall consult the other supervisory authorities concerned, and the Committee of European Insurance and Occupational Pensions Supervisors, before taking a decisubmitting its proposal on equivalence to the Commission.
2008/06/30
Committee: ECON
Amendment 807 #

2007/0143(COD)

Proposal for a directive
Article 277 – paragraph 1 – point a
(a) with respect to assets representing the technical provisions, insurance claims shall take absolute precedence over any other claim on the insurance undertaking. In respect of the other assets, the commitments of any nature assumed with other insurance undertaking of its own group as a consequence of the group support regime, shall have absolute precedence over any other claim of the insurance or undertaking in winding up;
2008/06/30
Committee: ECON
Amendment 808 #

2007/0143(COD)

Proposal for a directive
Article 277 – paragraph 1 – point b – introductory part
(b) with respect to the whole of the assets of the insurance undertaking, insurance claims, and legal commitments of group support provided by the insurance or reinsurance undertaking in winding up, shall take precedence over any other claim on the insurance undertaking with the only exception of the following:
2008/06/30
Committee: ECON
Amendment 810 #

2007/0143(COD)

Proposal for a directive
Article 304 – paragraph 3 a (new)
3a. Where reference is made to Article 304(3), the implementing measures set out in this Directive shall be developed according the principles of neutrality, relevancy and security: (a) neutrality means that they shall provide a level playing field, preventing distortion in competition within financial markets; (b) relevancy means that they shall contain any necessary legal or technical measures that have or may have a significant impact on the manner insurance and reinsurance undertakings manage their business and risks, on competition, on supervisory convergence and on consumer protection; (c) security means that they shall provide insurance and reinsurance undertakings, supervisors and consumers a certain, clear and detailed knowledge of their rights, obligations and application in practice.
2008/06/30
Committee: ECON