Activities of Syed KAMALL related to 2010/0199(COD)
Plenary speeches (1)
Investor-compensation schemes (debate)
Amendments (6)
Amendment 53 #
Proposal for a directive
Recital 12
Recital 12
(12) The minimum level of compensation was established in 1997 and has not been modified since then. Thisat minimum level should be increased to EUR 530 000 in order to take into account developments in the financial markets and in the Union legislative framework. This amount takes into account the effects of inflation in the Union and the need to better align the level of compensation with the average value of investments held by retail clients in the Member States. In order to increase the protection provided to investors, it is necessary to remove the existing option for Member States to limit or exclude from cover funds in currencies other that those of the Member States. Member States should be free to implement a higher level of compensation at their own discretion.
Amendment 65 #
Proposal for a directive – amending act
Article 1 – point 2 – point b
Article 1 – point 2 – point b
Directive 97/9/EC
Article 2 – paragraph 2 – subparagraph 1 – point a
Article 2 – paragraph 2 – subparagraph 1 – point a
(a) the competent authorities have determined that an investment firm appears, for the time being, for reasons directly related to the financial circumstances of the investment firm or the financial circumstances of any third party with whom financial instruments have been deposited by the investment firm, to be unable to meet its obligations arising out of investors' claims and has no early prospect of being able to do so,
Amendment 66 #
Proposal for a directive – amending act
Article 1 – point 2 – point b
Article 1 – point 2 – point b
Directive 97/9/EC
Article 2 – paragraph 2 – subparagraph 1 – point b
Article 2 – paragraph 2 – subparagraph 1 – point b
(b) a judicial authority has made a ruling, for reasons directly related to the financial circumstances of the investment firm or the financial circumstances of any third party with whom financial instruments have been deposited by the investment firm, which has the effect of suspending investors' ability to make claims against the firm or the firm's ability to make claims against the third party.
Amendment 77 #
Proposal for a directive – amending act
Article 1 – point 4 – point a
Article 1 – point 4 – point a
Directive 97/9/EC
Article 4 – paragraph 1 – subparagraph 1
Article 4 – paragraph 1 – subparagraph 1
1. Member States shall ensure that schemes provide for a minimum level of coverage of EUR 530 000 for each investor in respect of the claims referred to in Article 2(2a) or (2c).
Amendment 84 #
Proposal for a directive – amending act
Article 1 – point 4 – point a
Article 1 – point 4 – point a
Directive 97/9/EC
Article 4 – paragraph 1 – subparagraph 2
Article 4 – paragraph 1 – subparagraph 2
Amendment 158 #
Proposal for a directive – amending act
Article 1 – point 8
Article 1 – point 8
Directive 97/9/EC
Article 10 – paragraph 1 a (new)
Article 10 – paragraph 1 a (new)
1a. Member States shall ensure that the amount that an investor pays into an investor compensation scheme is clear and transparent information. The amount that each individual investor is charged for a scheme, either as a percentage of their investment or as an amount in addition to the investment, shall be made clear to that actual or intending investor.