Activities of Sebastian Valentin BODU related to 2010/0250(COD)
Plenary speeches (3)
Explanations of vote
Explanations of vote
Explanations of vote
Amendments (33)
Amendment 108 #
Proposal for a regulation
Article 6 – paragraph 3 – subparagraph 1
Article 6 – paragraph 3 – subparagraph 1
3. A counterparty which is subject to the reporting obligation may delegate the reporting of the details of the OTC derivative contract to the other counterparty, where it accepts the delegation.
Amendment 110 #
Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 1
Article 10 – paragraph 1 – subparagraph 1
1. Where a CCP that is a legal person established in the Union and has access to adequate liquidity intends to perform its services and specific clearing activities, it shall apply for authorisation to the competent authority of the Member State where it is established.
Amendment 111 #
Proposal for a regulation
Article 11 – paragraph 1 – subparagraph 1
Article 11 – paragraph 1 – subparagraph 1
1. A CCP wishing to extend its business to additional services or activities, such as those set out in this Regulation, not covered by the initial authorisation shall submit a request for extension. The offering of clearing services in a different currency or in financial instruments that significantly differ in their risk characteristics from those for which the CCP has already been authorised shall be considered an extension of that authorisation.
Amendment 112 #
Proposal for a regulation
Article 12 – paragraph 1
Article 12 – paragraph 1
1. A CCP shall have a permanent, available and separate initial capitalbe constituted as a public limited company and have its own initial and permanent capital (net assets) of at least EUR 5 million to be authorised pursuant to Article 10.
Amendment 113 #
Proposal for a regulation
Article 12 – paragraph 2
Article 12 – paragraph 2
2. COwn capital, together with retained earnings and reserves (net assets) of a CCP, shall at all times be sufficient and liquid so as to ensure an orderly winding- down or restructuring of the activities over an appropriate time span and that the CCP is adequately protected against operational and residual risks.
Amendment 114 #
Proposal for a regulation
Article 14 – paragraph 1 – subparagraph 2 – introductory part
Article 14 – paragraph 1 – subparagraph 2 – introductory part
The college shall consist of representatives of:
Amendment 115 #
Proposal for a regulation
Article 14 – paragraph 1 – subparagraph 2 a (new)
Article 14 – paragraph 1 – subparagraph 2 a (new)
The representative in the college may be replaced at any time by the authority which appointed him/her.
Amendment 116 #
Proposal for a regulation
Article 14 – paragraph 2 – point c
Article 14 – paragraph 2 – point c
(c) agreement on the voluntary entrustment of taskpowers among its members;
Amendment 117 #
Proposal for a regulation
Article 16 – title
Article 16 – title
Withdrawal, annulment and renouncement of authorisation
Amendment 118 #
Proposal for a regulation
Article 16 – paragraph 1 – point a
Article 16 – paragraph 1 – point a
(a) where the CCP has not made use of the authorisation within 12 months, expressly renounces the authorisation or has provided no services or performed no activity for the preceding six months;
Amendment 119 #
Proposal for a regulation
Article 16 – paragraph 1 – point b
Article 16 – paragraph 1 – point b
Amendment 120 #
Proposal for a regulation
Article 16 – paragraph 1 – subparagraph 1 a (new)
Article 16 – paragraph 1 – subparagraph 1 a (new)
Reasons must be given for the decision to withdraw authorisation.
Amendment 121 #
Proposal for a regulation
Article 16 – paragraph 1 – subparagraph 1 b (new)
Article 16 – paragraph 1 – subparagraph 1 b (new)
The competent authority may call on the competent body to annul authorisation where the CCP has obtained the authorisation by making false statements or by any other irregular means.
Amendment 122 #
Proposal for a regulation
Article 16 – paragraph 1 – subparagraph 1 c (new)
Article 16 – paragraph 1 – subparagraph 1 c (new)
A CCP may renounce authorisation by surrendering it to the competent authority which granted the authorisation.
Amendment 123 #
Proposal for a regulation
Article 16 – paragraph 2
Article 16 – paragraph 2
2. ESMA or and any other member ofuthority represented in the college may, at any time, directly or through its representative in the college, request that the competent authority of the Member State where the CCP is established examine whether the CCP is still in compliance with the conditions under which the authorisation is granted. The request shall be accompanied by a justification.
Amendment 124 #
Proposal for a regulation
Article 20 – paragraph 2
Article 20 – paragraph 2
2. Where a CCP has been declared bankrupt or is being compulsorily wound up, confidential information which does not concern third parties may be divulged in civil or commercial proceedings where necessary for carrying out the proceeding.
Amendment 127 #
Proposal for a regulation
Article 26 – paragraph 4
Article 26 – paragraph 4
4. Without prejudice to the right of competent authorities to be duly informed, the members of the risk committee shall be bound by confidentiality. Where the chairman of the risk committee determines that a member has an actual or potential conflict of interest on a particular matter, or that member shall not be allowed toannounces the existence of one, the member concerned will not vote on that matter but will abstain.
Amendment 128 #
Proposal for a regulation
Article 27 – paragraph 1
Article 27 – paragraph 1
1. A CCP shall maintain, on paper or in digital format, for a period of at least ten 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.
Amendment 129 #
Proposal for a regulation
Article 27 – paragraph 2
Article 27 – paragraph 2
2. A CCP shall maintain, on paper or in digital format, for a period of at least ten years following the termination of a contract, all information on all contracts it has processed. That information shall at a minimum enable the identification of the original terms of a transaction before clearing by that CCP.
Amendment 130 #
Proposal for a regulation
Article 29 – paragraph 1 – subparagraph 1
Article 29 – paragraph 1 – subparagraph 1
1. ABoth when it is set up and in the course of its functioning, a CCP shall notify the competent authority of any changes to the composition of its management, and shall provide the competent authority of all the information necessary to assess whether the board members and executive directors are of sufficiently good repute and sufficiently experienced.
Amendment 131 #
Proposal for a regulation
Article 29 – paragraph 1 – subparagraph 2
Article 29 – paragraph 1 – subparagraph 2
Where the conduct of a member of the boardanager or executive director is likely to be prejudicial to the sound and prudent management of the CCP, the competent authority shall take appropriate measures, including removing that memberperson from the boardpost held in the CCP.
Amendment 132 #
Proposal for a regulation
Article 30 – paragraph 1 – subparagraph 1 – point c a (new)
Article 30 – paragraph 1 – subparagraph 1 – point c a (new)
(ca) market concentration as a result of the acquisition;
Amendment 133 #
Proposal for a regulation
Article 33 – paragraph 1 – point a
Article 33 – paragraph 1 – point a
(a) outsourcing does not result in the delegation of its responsilease the CCP from liability;
Amendment 134 #
Proposal for a regulation
Article 33 – paragraph 3 a (new)
Article 33 – paragraph 3 a (new)
(3a) The competent authority may reject the delegation or may decide to suspend it where the entity receiving the delegation does not meet the requirements of this Regulation, other than those exclusively applicable to a CCP.
Amendment 135 #
Proposal for a regulation
Article 45 – paragraph 3
Article 45 – paragraph 3
3. The CCP shall promptly inform the competent authority. That competent authority shall immediately inform the authority responsible for the supervision of the defaulting clearing member (where the latter is not itself the competent authority) where the CCP considers that the clearing member will not be able to meet its future obligations and when the CCP intends to declare its default.
Amendment 136 #
Proposal for a regulation
Article 60 – title
Article 60 – title
Withdrawal, annulment and renouncement of registration
Amendment 137 #
Proposal for a regulation
Article 60 – paragraph 1 – point a
Article 60 – paragraph 1 – point a
(a) the trade repository expressly renounces the registration or has provided no services for the preceding six months;
Amendment 138 #
Proposal for a regulation
Article 60 – paragraph 1 – point b
Article 60 – paragraph 1 – point b
Amendment 139 #
Proposal for a regulation
Article 60 – paragraph 1 – subparagraph 1 a (new)
Article 60 – paragraph 1 – subparagraph 1 a (new)
Reasons must be given for the decision to withdraw registration.
Amendment 140 #
Proposal for a regulation
Article 60 – paragraph 1 – subparagraph 1 b (new)
Article 60 – paragraph 1 – subparagraph 1 b (new)
EMSA may call on the competent body to annul the registration where it has obtained the registration by making false statements or by any other irregular means.
Amendment 141 #
Proposal for a regulation
Article 60 – paragraph 1 – subparagraph 1 c (new)
Article 60 – paragraph 1 – subparagraph 1 c (new)
A trade repository may expressly renounce the registration by surrendering it to EMSA.
Amendment 142 #
Proposal for a regulation
Article 60 – paragraph 2
Article 60 – paragraph 2
2. The competent authority of a Member State in which the trade repository services performs its services and activities and which considers that one of the conditions referred to in paragraph 1 has been met, may request ESMA to examine whether the conditions for withdrawal of registration are met. Where ESMA decides not to withdraw the registration of the trade repository concerned, it shall provide full reasReasons shall be given for the decisions.
Amendment 143 #
Proposal for a regulation
Article 61 – paragraph 2 – point c
Article 61 – paragraph 2 – point c
(c) to carry out on-site inspections with or without announcementprior notice, except in situations where giving notice would mean that evidence would be lost or the existing situation would be aggravated;