12 Amendments of Sajjad KARIM related to 2011/0307(COD)
Amendment 33 #
Proposal for a directive
Article 1 – point 2
Article 1 – point 2
1. The home Member State may make an issuer subject to requirements more stringent than those laid down in this Directive, except requiring issuers to publish periodic financial information other thann a more frequent basis than annual financial reports referred to in Article 4 and half- yearly financial reports referred to in Article 5. Member States may however impose publication of additional periodic financial information other than the annual financial reports referred to in Article 4 and the half-yearly financial reports referred to in Article 5 for the following purposes: - protection of financial stability; and - prudential and conduct regulation of institutions.
Amendment 37 #
Proposal for a directive
Article 1 – point 2
Article 1 – point 2
Directive 2004/109/EC
Article 3 – paragraph 1 – subparagraph 2 – introductory part
Article 3 – paragraph 1 – subparagraph 2 – introductory part
The home Member State may not make a holder of shares, or a natural person or legal entity referred to in Articles 10 or 13, subject to requirements more stringent than those laid down in this Directive, except setting lower notification thresholds than those laid down in Article 9(1).when:
Amendment 38 #
Proposal for a directive
Article 1 – point 2
Article 1 – point 2
Directive 2004/109/EC
Article 3 – paragraph 1 – subparagraph 2 – point a (new)
Article 3 – paragraph 1 – subparagraph 2 – point a (new)
(a) setting lower or additional notification thresholds than those laid down in Article 9(1);
Amendment 39 #
Proposal for a directive
Article 1 – point 2
Article 1 – point 2
Directive 2004/109/EC
Article 3 – paragraph 1 – subparagraph 2 – point b (new)
Article 3 – paragraph 1 – subparagraph 2 – point b (new)
(b) applying more stringent requirements than those referred to in Article 12; and
Amendment 40 #
Proposal for a directive
Article 1 – point 2
Article 1 – point 2
Directive 2004/109/EC
Article 3 – paragraph 1 – subparagraph 2 – point c (new)
Article 3 – paragraph 1 – subparagraph 2 – point c (new)
(c) applying laws, regulations or administrative provisions adopted in relation to takeover bids, merger transactions and other transactions affecting the ownership or control of companies, regulated by the supervisory authorities appointed by Member States pursuant to Article 4 of Directive 2004/25/EC of the European Parliament and of the Council of 21 April 2004 on takeover bids.
Amendment 49 #
Proposal for a directive
Article 1 – point 8 – point a
Article 1 – point 8 – point a
Directive 2004/109/EC
Article 13 – paragraph 1 – subparagraph 1 – point a
Article 13 – paragraph 1 – subparagraph 1 – point a
(a) financial instruments that, on maturity, give the holder, under a formal agreement, either the unconditional right to acquire or the discretion as to his right to acquire, shares to which voting rights are attached, alreadywhether already issued or to be issued, of an issuer whose shares are admitted to trading on a regulated market;
Amendment 50 #
Proposal for a directive
Article 1 – point 8 – point a
Article 1 – point 8 – point a
Directive 2004/109/EC
Article 13 – paragraph 1 – subparagraph 1 – point b
Article 13 – paragraph 1 – subparagraph 1 – point b
(b) financial instruments which are not included in point (a) but which are referenced to shares referred to in that point and with economic effects similar to thosefinancial instruments referred to in that point (a), whether they give right to a physical settlement or not.
Amendment 51 #
Proposal for a directive
Article 1 – point 8 – point b
Article 1 – point 8 – point b
Directive 2004/109/EC
Article 13 – paragraph 1 a – subparagraph 1
Article 13 – paragraph 1 a – subparagraph 1
1a. The number of voting rights shall be calculated by reference to the full notional amount of shares underlying the financial instrumentESMA shall develop draft regulatory technical standards to specify the method to calculate the number of voting rights. For this purpose, the holder shall aggregate and notify all financial instruments relating to the same underlying issuer. Only long positions shall be taken into account for the calculation of voting rights. Long positions shall not be netted with short positions relating to the same underlying issuer.
Amendment 52 #
Proposal for a directive
Article 1 – point 8
Article 1 – point 8
Directive 2004/109/EC
Article 13 – paragraph 2
Article 13 – paragraph 2
2. The Commission shall be empowered to adopt by means of delegated acts in accordance with Article 27(2a), (2b) and (2c), and subject to the conditions of Articles 27a and 27b, measures to: (a) modify the method to calculate the number of voting rights relating to the financial instruments referred to in paragraph 1a; (b) specify the types of instruments to be considered as financial instruments within the meaning of paragraph 1b; (c) specify the contents of the notification to be made, the notification period and to whom the notification is to be made, as referred to in paragraph 1. (Point (c) in the Commission text has partly become subparagraph 1 in ParliaESMA shall develop draft regulatory technical standards to specify the contents of the notification to be made, the notification period and to whom the notification is to be made as referred to in paragraph 1. ESMA shall submit those draft regulatory technical standards to the Commission by 31 December 2013. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first sub-paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010. amendment's.)
Amendment 55 #
Proposal for a directive
Article 1 – point 15
Article 1 – point 15
Directive 2004/109/EC
Article 28 – paragraph 1
Article 28 – paragraph 1
1. Without prejudice to the powers of competent authorities in accordance with Article 24 and the right of Member States to impose criminal sanctions, Member States shall provide that their respective competent authorities may take appropriate administrative sanctions and measures where the national provisions adopted in the implementation of this Directive have not been complied with, and shall ensure that they are applied. Those administrative sanctions and measures shall be effective, proportionate and dissuasive.
Amendment 59 #
Proposal for a directive
Article 1 – point 16
Article 1 – point 16
Directive 2004/109/EC
Article 28 a – paragraph 2 – subparagraph 1 – point c
Article 28 a – paragraph 2 – subparagraph 1 – point c
Amendment 66 #
Proposal for a directive
Article 1 – point 16
Article 1 – point 16
Directive 2004/109/EC
Article 28 b
Article 28 b
Member States shallmay ensure that the competent authorities publish any sanction or measure imposed for breach of the national provisions adopted in the implementation of this Directive without undue delay, including information on the type and nature of the breach and the identity of persons responsible for it, unless such publication would seriously jeopardise the stability of financial markets. Where publication would, cause a disproportionate damage to the parties involved, competent authorities shall publish th or jeopardise sanctions on an anonymous basis. on- going criminal investigation