BETA

51 Amendments of Elisa FERREIRA related to 2012/0242(CNS)

Proposal for a regulation
Article 1 – paragraph 1

This Regulation confers on the ECB, within the Single Supervisory Mechanism (SSM) composed of the ECB and of the national competent authorities of participating Member States, 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, with due regard for the unity and integrity of the internal market.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 3 – paragraph 1

The ECB, in its role within the SSM, 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

Proposal for a regulation
Article 4 – title

Tasks conferred on the ECB within the SSM

2012/10/30
Committee: ECON

Proposal for a regulation
Article 4 – paragraph 1 – introductory part

1. The ECB shall, within the SSM and in accordance with the relevant provisions of Union law, be exclusively competent to carry out, for prudential supervisory purposes, the following tasks in relation to all credit institutions established in the participating Member States:

2012/10/30
Committee: ECON

Proposal for a regulation
Article 4 – paragraph 1 – point k

(k) To carry out ~~supervisory tasks in relation to early interven~~the tasks attributed to the supervisor in the frameworks for the recovery and resolution of credit institutions and investment firms, in coordination with the re 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 authoritieslevant resolution authorities. The ECB shall only carry out the tasks referred in this point from the moment of the application of the transposition rules of Directive […/…/EU] of the European Parliament and of the Council, establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directives 77/91/EEC and 82/891/EC, Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC and 2011/35/EC and Regulation (EU) No 1093/2010;

2012/10/30
Committee: ECON

Proposal for a regulation
Article 4 – paragraph 1 – point l

(l) To coordinate and express a common position of representatives from competent authorities of the participating Member States when participating in the Board of Supervisors and the Management Board of the European Banking Authority, for issues relating to the tasks conferred on the ECB within the SSM by this Regulation.;

2012/10/30
Committee: ECON

Proposal for a regulation
Article 4 – paragraph 1 – point l a (new)

(la) To apply sanctions in accordance with according to Article 15.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 4 – paragraph 1 a (new)

1a. For the purpose of points (i) and (j) of the previous subparagraph, the ECB shall cooperate closely with the relevant supervisors and ESAs.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 4 – paragraph 2

2. For credit institutions established in a non-participating Member State, which establish a branch or provide cross-border services in a participating Member State, the ECB shall, within the SSM, carry out the tasks referred to in paragraph 1 for which the national competent authorities of the participating Member State are competent.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 4 – paragraph 3

3. Subject to and in compliance with any relevant Union law rule and in particular any legislative and non-legislative act, the ECB, within the SSM, may adopt regulations and recommendations and take decisions to implement or apply Union law, to the extent necessary to carry out the tasks conferred upon it by this Regulation. All the decisions taken by the ECB in the scope of this Regulation shall be reasoned and notified to the respective addressees.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 5 – title

~~National authorities~~Role of the national competent authorities within the SSM

2012/10/30
Committee: ECON

Proposal for a regulation
Article 5 – paragraph 2

2. National competent authorities shall assist the ECB within the SSM on its request ~~with~~for the preparation, adoption and implementation of any acts relating to the tasks referred to in Article 4.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 5 – paragraph 3

3. The ~~ECB shall organise the practical modalities of implementation of paragraph 2~~supervisory board of the ECB, referred to in Article 19, shall decide on the discharging of the tasks referred to in Article 4 by the ECB or 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 ECB shall establish delegations in each participating Member State and in each Member State whose currency is not the euro and whose national competent authority established a close cooperation with the ECB in accordance with Article 6, within or close to the national competent authority, to facilitate the continuous cooperation and exchange of information between the ECB and the national competent authority. National competent authorities shall follow the instructions given by the ECB.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 5 – paragraph 3 a (new)

3a. The decisions referred in paragraph 3 shall be based on objective criteria set by the Supervisory Board.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 5 – paragraph 3 b (new)

3b. The supervisory board of the ECB shall notify to each credit institution the supervisory arrangements to which it is subject.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 5 – paragraph 3 c (new)

3c. Regardless of the supervisory arrangements notified to a credit institution, the ECB may decide to take over a supervisory task assigned to a national competent authority and/or to change or revoke a decision taken by a national competent authority, namely in the following cases: (a) where there are serious concerns about the safety and/or soundness of any credit institution; (b) where the national competent authorities fail to perform their duties under this Regulation; (c) where a credit institution, individually or as part of a group of credit institutions, may pose or is likely to pose a threat to the orderly functioning and integrity of the Union financial market and/or to the stability of the financial system, or may exacerbate or is likely to exacerbate a pre- existing risk to the orderly functioning and integrity of the EU financial market and/or to the stability of the financial system.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 5 – paragraph 3 d (new)

3d. The decision referred in paragraph 3c shall be notified to the national competent authority and to the credit institution concerned.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 5 – paragraph 4

~~4. National competent authorities shall follow the instructions given by the ECB.~~deleted

2012/10/30
Committee: ECON

Proposal for a regulation
Article 5 a (new)

Article 5 a Continuous supervision The SSM shall continuously accompany the activity of the entities that are under its supervision, even when there is no suspicion of irregularity.

2012/10/30
Committee: ECON

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 Member States which established a close cooperation in accordance with this Article shall take part to the activities of the Supervisory Board.deleted

2012/10/30
Committee: ECON

Proposal for a regulation
Article 7 – paragraph 1

Without prejudice to the respective competences of the Member States and the other Union institutions, in relation to the tasks conferred on the ECB within the SSM by this Regulation, the ECB may develop contacts and enter into administrative arrangements with supervisory authorities, international organisations and the administrations of third countries, subject to appropriate coordination with the EBA. Those arrangements shall not create legal obligations in respect of the Union and its Member States.

2012/10/30
Committee: ECON

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 acts.deleted

2012/10/30
Committee: ECON

Proposal for a regulation
Article 9 – paragraph 2

2. The persons referred to in paragraph 1 shall supply the information requested. Professional secrecy provisions do not exempt those persons from the duty to supply the information. The supply of the information shall not be deemed to be a breach of professional secrecy.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 12 – paragraph 2

2. Where authorisation as referred to in paragraph 1 is applied for, and the decision to carry out an on-site inspection was taken by the ECB within the SSM, the national judicial authority shall control that the decision of the ECB is authentic and that the coercive measures envisaged are neither arbitrary nor excessive having regard to the subject matter of the inspection. In its control of the proportionality of the coercive measures, the national judicial authority may ask the ECB for detailed explanations, in particular relating to the grounds the ECB has for suspecting that an infringement of the relevant acts of Union law has taken place and the seriousness of the suspected infringement and the nature of the involvement of the person subject to the coercive measures. However, the national judicial authority shall not review the necessity for the inspection or demand to be provided with the information on the ECB's file. The lawfulness of the ECB's decision shall be subject to review only by the Court of Justice of the European Union.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 12 a (new)

Article 12a Reporting obligation The ECB and the national competent authorities shall inform the competent entities of offences which come to their notice because of their functions within the SSM and that occur outside the SSM's competences.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 14 – paragraph 1 – subparagraph 1 a (new)

Even where the procedures for credit institutions wishing to carry on their activities within the territory of another Member State and the related competences of home and host Member States do not apply in accordance with the first subparagraph, the college of supervisors foreseen in the Directive 2006/48/EC shall be set up. Before taking any decision, the ECB shall consult that college of supervisors.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 14 – paragraph 2 – subparagraph 1 a (new)

Even where the provisions in relation to the cooperation between competent authorities from different Member States for conducting supervision on a consolidated basis do not apply in accordance with the first subparagraph, the college of supervisors foreseen in the Directive 2006/48/EC shall be set up. Before taking any decision, the ECB shall consult that college of supervisors.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 15 – paragraph 1 – subparagraph 1 a (new)

In the situation foreseen in the first subparagraph, the competent authorities under Union law shall not apply the available administrative pecuniary sanctions to the same credit institution, financial holding company or mixed financial holding company for the same breach.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 15 a (new)

Article 15a Actions against the ECB before the Court of Justice of the European Union 1. Proceedings may be brought before the Court of Justice of the European Union, in accordance with Article 263 TFEU, contesting a decision taken by the ECB within the scope of this Regulation. 2. Any natural or legal person and, where applicable, Member State affected by a decision taken by the ECB within the scope of this Regulation may institute proceedings before the Court of Justice of the European Union against the decision of the ECB, in accordance with Article 263 TFEU. 3. If the ECB has an obligation to act and fails to take a decision, proceedings for failure to act may be brought before the Court of Justice of the European Union in accordance with Article 265 TFEU. 4. The ECB shall take the necessary measures to comply with the judgment of the Court of Justice of the European Union.

2012/10/30
Committee: ECON

Gianni PITTELLA, Elisa FERREIRA

CHAPTER IIIa BOARD OF APPEAL WITHIN THE ECB Article 15 a Composition and operation 1. The Board of Appeal shall be composed of six members and six alternates who shall be individuals of a high repute with a proven record of relevant knowledge and professional experience, including supervisory experience, to a sufficiently high level in the fields of banking or other financial services, excluding current staff of the ECB, or other national or Union institutions and authorities involved in the activities of the SSM. The Board of Appeal shall have sufficient legal expertise to provide expert legal advice on the legality of the ECB's exercise of its powers. The Board of Appeal shall designate its President. 2. The members of the Board of Appeal shall be appointed by the Supervisory Board of the ECB from a short-list proposed by the Commission, following a public call for expressions of interest published in the Official Journal of the European Union, and after consultation of the Board of Supervisors of the EBA. 3. The term of office of the members of the Board of Appeal shall be 5 years. That term may be extended once. 4. A member of the Board of Appeal shall not be removed during his term of office, unless he has been found guilty of serious misconduct and the Supervisory Board takes a decision to remove the member. 5. The decisions of the Board of Appeal shall be adopted on the basis of a majority of at least four of its six members. 6. The Board of Appeal shall be convened by its President when necessary. 7. The ECB shall ensure adequate operational and secretarial support for the Board of Appeal.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 15 b (new)

Article 15b Actions against the national competent authorities before the national courts 1. Proceedings may be brought before the national courts contesting a decision taken by a national competent authority within the scope of this Regulation. 2. Any natural or legal person and, where applicable, Member State affected by a decision taken by a national competent authority within the scope of this Regulation may institute proceedings before the national courts against the decision of the national competent authority. 3. If a national competent authority has an obligation to act and fails to take a decision, proceedings for failure to act may be brought before the national courts. 4. National competent authorities shall take the necessary measures to comply with the judgment of the national courts.

2012/10/30
Committee: ECON

Gianni PITTELLA, Elisa FERREIRA

Proposal for a regulation
Article 15 b (new)

Article 15b Independence and impartiality 1. The members of the Board of Appeal shall be independent in making their decisions. They shall not be bound by any instructions. They shall not perform any other activities in relation to the SSM. 2. Members of the Board of Appeal shall not take part in any appeal proceedings in which they have any personal interest, if they have previously been involved as representatives of one of the parties to the proceedings, or if they have participated in the decision under appeal. 3. If, for one of the reasons referred to in paragraphs 1 and 2 or for any other reason, a member of a Board of Appeal considers that another member should not take part in any appeal proceedings, he shall inform the Board of Appeal accordingly. 4. Any party to the appeal proceedings may object to the participation of a member of the Board of Appeal on any of the grounds referred to in paragraphs 1 and 2, or if suspected of bias. No objection may be based on the nationality of members nor shall it be admissible if, while being aware of a reason for objecting, the party to the appeal proceedings has nonetheless taken a procedural step other than objecting to the composition of the Board of Appeal. 5. The Board of Appeal shall decide on the action to be taken in the cases specified in paragraphs 1 and 2 without the participation of the member concerned. For the purpose of taking that decision, the member concerned shall be replaced on the Board of Appeal by his alternate. Where the alternate is in a similar situation, the Chairperson shall designate a replacement from among the available alternates. 6. The members of the Board of Appeal shall undertake to act independently and in the public interest. For that purpose, they shall make a declaration of commitments and a declaration of interests indicating either the absence of any interest which may be considered prejudicial to their independence or any direct or indirect interest which might be considered prejudicial to their independence. Those declarations shall be made public, annually and in writing.

2012/10/30
Committee: ECON

Gianni PITTELLA, Elisa FERREIRA

Proposal for a regulation
Article 15 c (new)

Article 15c Appeals 1. Any natural or legal person, including competent authorities, may appeal against a decision of the ECB referred to in Articles 9, 10, 11, 13 and 15 and any other decision taken by the ECB in accordance with the Union acts referred to in Article 4 which is addressed to that person, or against a decision which, although in the form of a decision addressed to another person, is of direct and individual concern to that person. 2. The appeal, together with a statement of grounds, shall be filed in writing at the ECB within 2 months of the date of notification of the decision to the person concerned, or, in the absence of a notification, of the day on which the ECB published its decision. The Board of Appeal shall decide upon the appeal within 2 months after the appeal has been lodged. 3. An appeal lodged pursuant to paragraph 1 shall not have suspensive effect. However, the Board of Appeal may, if it considers that circumstances so require, suspend the application of the contested decision. 4. If the appeal is admissible, the Board of Appeal shall examine whether it is well- founded. It shall invite the parties to the appeal proceedings to file observations on its own notifications or on communications from the other parties to the appeal proceedings, within specified time limits. Parties to the appeal proceedings shall be entitled to make oral representations. 5. The Board of Appeal may confirm the decision taken by the competent body of the ECB, or remit the case to the competent body of the ECB. That body shall be bound by the decision of the Board of Appeal and that body shall adopt an amended decision regarding the case concerned. 6. The Board of Appeal shall adopt and make public its rules of procedure. 7. The decisions taken by the Board of Appeal shall be reasoned and shall be made public.

2012/10/30
Committee: ECON

Gianni PITTELLA, Elisa FERREIRA

Proposal for a regulation
Article 15 d (new)

Article 15d Actions before the Court of Justice of the European Union 1. Proceedings may be brought before the Court of Justice of the European Union, in accordance with Article 263 TFEU, contesting a decision taken by the Board of Appeal or, in cases where there is no right of appeal before the Board of Appeal, by the ECB within the SSM. 2. Member States and the Union institutions, as well as any natural or legal person, may institute proceedings before the Court of Justice of the European Union against decisions of the ECB, in accordance with Article 263 TFEU. 3. In the event that the ECB within the SSM has an obligation to act and fails to take a decision, proceedings for failure to act may be brought before the Court of Justice of the European Union in accordance with Article 265 TFEU. 4. The ECB shall be required to take the necessary measures to comply with the judgment of the Court of Justice of the European Union.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 16 – paragraph 1

1. When carrying out the tasks conferred upon it by this Regulation, the ECB shall act independently. The national competent authorities within the SSM shall act independently.

2012/10/30
Committee: ECON

Gianni PITTELLA, Elisa FERREIRA, Arlene McCARTHY, George Sabin CUTAȘ

Proposal for a regulation
Article 16 – paragraph 2 a (new)

2a. The ECB shall allow EU citizens to monitor the independence of policy- making and supervisory functions from private interests by participating in the inter-institutional Transparency Register, together with the European Parliament and Commission.

2012/10/30
Committee: ECON

Gianni PITTELLA, Elisa FERREIRA

Proposal for a regulation
Article 19 – paragraph 1

1. The planning and execution of the tasks conferred upon the ECB, shall be undertaken by an internal body composed of four representatives of the ECB appointed by the Executive Board of the ECB after approval by the European Parliament and one representative of the national authority competent for the supervision of credit institutions in each participating Member State (hereinafter ‘supervisory board’).

2012/10/30
Committee: ECON

Proposal for a regulation
Article 19 – paragraph 1

1. The planning and execution of the tasks conferred upon the ECB, shall be undertaken by an internal body composed of four representatives of the ECB appointed by the Executive Board of the ECB and one representative of the national authority competent for the supervision of credit institutions in each participating Member State (hereinafter ‘"supervisory board’)") and in each Member State whose national competent authority established a close cooperation with the ECB, in compliance with the Statute of ESCB and of the ECB. Each member of the supervisory board shall have one vote.

2012/10/30
Committee: ECON

Gianni PITTELLA, Elisa FERREIRA, George Sabin CUTAȘ

Proposal for a regulation
Article 19 – paragraph 1 a (new)

1 a. The Executive Board of the ECB shall submit to the European Parliament a short list of candidates to the Supervisory Council composed of an equal number of men and women.

2012/10/30
Committee: ECON

Gianni PITTELLA, Elisa FERREIRA

Proposal for a regulation
Article 19 – paragraph 2

2. In addition, the supervisory board shall include a Chair elected by the members of the Governing Council from the members, with the exception of the President, of the Executive Board, and a Vice-Chair elected by and from the members of the Governing Council of the ECB. The European Parliament shall approve the election of the Chair and the Vice-Chair.

2012/10/30
Committee: ECON

Gianni PITTELLA, Elisa FERREIRA, George Sabin CUTAȘ

Proposal for a regulation
Article 19 – paragraph 2 a (new)

2a. Gender balance shall be taken into consideration for the election of the Chair and the Vice-Chair.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 19 – paragraph 4

4. The supervisory board may appoint from among its members a steering committee with a more limited composition which supports its activities, including preparing the meetings, but shall not have any decision-making powers.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 19 – paragraph 5

5. The representatives of the competent authority of the Member States which established a close cooperation in accordance with Article 6 shall take part to the activities of the supervisory board in accordance with the conditions set out in the decision adopted in accordance with paragraphs 2 and 3 of Article 6, in compliance with the Statute of ESCB and of the ECB.deleted

2012/10/30
Committee: ECON

Proposal for a regulation
Article 20 – paragraph 1

1. Members of ~~the Supervisory Board~~bodies and staff of the ECB carrying out supervisory duties, and individuals who provide any service, directly or indirectly, permanently or occasionally, related to the discharge of those duties, even after their duties are ceased, shall be subject to the professional secrecy requirements set out in Article 37 of Protocol No. 4 and in the relevant acts of Union law.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 20 – paragraph 2

2. For the purpose of carrying out the tasks conferred upon it by this Regulation, the ECB shall be authorised, within the limits and under the conditions set out in the relevant acts of Union law, to exchange information with the national competent authorities within the SMM and with national or European authorities and bodies in the cases where Union law allows national competent authorities to disclose information to those entities or where Member States may provide for such disclosure ~~under Union law~~.

2012/10/30
Committee: ECON

Gianni PITTELLA, Elisa FERREIRA, Arlene McCARTHY, George Sabin CUTAȘ

Proposal for a regulation
Article 25 – paragraph 2 a (new)

2a. The ECB shall create a standing ethics committee to assess possible conflicts of interest resulting from post- office employment of ECB staff members engaged in supervisory activities. The committee will be responsible for elaborating comprehensive and formal procedures for assessment. The results of such assessments shall be publicly disclosed.

2012/10/30
Committee: ECON

Gianni PITTELLA, Elisa FERREIRA, Arlene McCARTHY, George Sabin CUTAȘ

Proposal for a regulation
Article 25 – paragraph 2 b (new)

2b. Former ECB staff members who have been engaged in supervisory activities, and who intend to engage in an occupation during the two years after they have ceased to hold office, shall inform the ethics committee in good time. The committee shall make a decision by one month since receiving the information on the compatibility of the employment offer with the need to ensure the integrity and independence of staff. Former ECB staff members can engage in the occupation only after approval of the ethics committee.

2012/10/30
Committee: ECON

Gianni PITTELLA, Elisa FERREIRA, Arlene McCARTHY, George Sabin CUTAȘ

Proposal for a regulation
Article 25 – paragraph 2 c (new)

2c. Members of the supervisory board shall be prohibited from taking paid work in private sector institutions for which the ECB has supervisory responsibility during the two years after they have ceased to hold office.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 26 – paragraph 1 – point -a c (new)

(-ac) the functioning of the SSM regarding the division of tasks between the ECB and the national competent authorities;

2012/10/30
Committee: ECON

Proposal for a regulation
Article 27 – paragraph 1

1. From the 1st of July 2013, the ECB shall carry out the supervisory tasks conferred on it ~~also~~ in relation to the most significant credit institutions, financial holding companies and mixed financial holding companies of European systemic importance at the highest level of consolidation, based on their size as reflected in, the sum of exposure values of all assets and off-balance sheet liabilities not deducted when determining the common equity tier 1 capital for regulatory purposes, and their cross-border activity as reflected in cross-jurisdictional claims such as deposits and other assets in respect of customers or other financial operators located in another country and cross- jurisdictional liabilities such as loans and notes in respect of customers or other financial operators located in another country, which together cover at least half of the banking sector in the Euro area as a whole, on 1 January 2013. The ECB shall adopt and make public the list of those institutions before 1 March 2013.

2012/10/30
Committee: ECON

Proposal for a regulation
Article 27 – paragraph 5 – subparagraph 1

By derogation from Article 4 (3), from the entry into force of this regulation and until the repeal of Directives 2006/48/EC and 2006/49/EC and their replacement by new Union acts, the ECB shall exercise the tasks ~~conferred on it by this regulation~~referred in this Regulation and conferred on it by its supervisory board by addressing instructions to national competent authorities on the exercise of any relevant powers conferred on them.

2012/10/30
Committee: ECON