Activities of Syed KAMALL related to 2010/0250(COD)
Plenary speeches (2)
Explanations of vote
Explanations of vote
Amendments (7)
Amendment 99 #
Proposal for a regulation
Article 2 – point 6
Article 2 – point 6
(6) 'financial counterparty' means investment firms as set out inuthorised under Directive 2004/39/EC, credit institutions as defined inuthorised under Directive 2006/48/EC, insurance undertakings as defined inuthorised under Directive 73/239/EEC, assurance undertakings as defined inuthorised under Directive 2002/83/EC, reinsurance undertakings as defined inuthorised under Directive 2005/68/EC, undertakings for collective investments in transferable securities (UCITS) as defined inuthorised under Directive 2009/65/EC, institutions for occupational retirement provision as defined inuthorised under Directive 2003/41/EC and alternative investment funds managers as defined inuthorised under Directive 2010/.../EU except counterparties whose sole commercial activity consists in managing, developing or owning physical real estate assets;
Amendment 101 #
Proposal for a regulation
Article 5 – paragraph 1 a (new)
Article 5 – paragraph 1 a (new)
1a. The CCP shall institute procedures to ensure compliance with the obligations laid down in paragraph 1, including: (a) making available to the trading venue the right to allocate a technology or interface provider in order to access the system and purchase an unbundled execution or clearing service; (b) utilising agreed communication protocols or making such protocols available for trading venues; (c) publishing transparent particulars of the total costs of clearing services for all users, sufficient to enable consumers to understand those services and their prices, including discount schemes or other schemes.
Amendment 102 #
Proposal for a regulation
Article 5 – paragraph 1 b (new)
Article 5 – paragraph 1 b (new)
1b. Where a request to access a CCP has been formally submitted to a CCP by a venue of execution, the venue shall receive a response to the request within three months.
Amendment 103 #
Proposal for a regulation
Article 5 – paragraph 1 c (new)
Article 5 – paragraph 1 c (new)
1c. Without prejudice to approval by the competent authorities of the Member State of the trading venue and the CCP, access shall be made possible by the CCP within nine months of a positive response to a request for access.
Amendment 104 #
Proposal for a regulation
Article 5 – paragraph 1 d (new)
Article 5 – paragraph 1 d (new)
1d. Where a trading venue has been denied access to a CCP and resubmits a request, the CCP must make a new decision within three months of the resubmission.
Amendment 105 #
Proposal for a regulation
Article 5 – paragraph 1 e (new)
Article 5 – paragraph 1 e (new)
1e. The CCP and home competent authorities of the requesting trading venue and CCP may only deny the trading venue access to the CCP where such access would significantly harm the functioning of markets. ESMA shall facilitate the adoption of a joint opinion between relevant competent authorities only in accordance with its settlement of disagreement powers under Article 19 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority)1 (the ESMA Regulation). ____________________ 1 OJ L 331, 15.12.2010, p. 84.
Amendment 106 #
Proposal for a regulation
Article 5 – paragraph 1 f (new)
Article 5 – paragraph 1 f (new)
1f. Where access is refused by a CCP, it shall provide full reasons for its decision and shall notify the venue of execution accordingly.