6 Amendments of Othmar KARAS related to 2008/0153(COD)
Amendment 92 #
Proposal for a directive
Recital 5
Recital 5
(5) The coordination of the laws of the Member States should be confined to UCITS other than of the closed-ended type which promote the sale of their units to the public in the Community. It is desirable that UCITS should be permitted as part of their investment objective to invest in financial instruments, other than transferable securities, which are sufficiently liquid. The financial instruments which are, which have sufficiently well-adapted and stable valuation principles and are traded on regulated markets. The criteria which the financial instruments eligible to be investment assets of the portfolio of the UCITS are required to meet should be listed in this Directive. The selection of investments for a portfolio by means of an index is a management technique.
Amendment 111 #
Proposal for a directive
Recital 32 a (new)
Recital 32 a (new)
(32a) For investment categories which comply with the fundamental principles of this directive, but are not at present recognised as permitted investment categories under this directive, the Commission should submit a proposal for a separate legislative framework by the end of 2009.
Amendment 248 #
Proposal for a directive
Article 45 – paragraph 1 – point g – introductory part and subpoint i
Article 45 – paragraph 1 – point g – introductory part and subpoint i
g) financial derivative instruments, including equivalent cash-settled instruments, dealt in on a regulated market referred to in points (a), (b) and (c); or financial derivative instruments dealt in over-the-counter (hereinafter referred to as "OTC derivatives"), provided that: i) the underlying consists of instruments covered by this paragraph, financial indices, interest rates, foreign exchange rates or currencies, currencies or raw materials quoted or traded on regulated markets in accordance with points a, b or c, in which the UCITS may invest according to its investment objectives as stated in its fund rules or instruments of incorporation,
Amendment 249 #
Proposal for a directive
Article 45 – paragraph 2 – point c
Article 45 – paragraph 2 – point c
c) a UCITS may not acquire either precious metals or certificates representing them except via futures contracts traded on regulated markets.
Amendment 250 #
Proposal for a directive
Article 46 – paragraph 3 – subparagraph 2
Article 46 – paragraph 3 – subparagraph 2
The exposure is calculated taking into account the current valuevolatility of the underlying assets, the counterparty risk, future market movements and the time available to liquidate the positions. This shall also apply to the third and fourth subparagraphs.
Amendment 327 #
Proposal for a directive
Article 84
Article 84
Neither: (a) an investment company, nor (b) a management company or depositary acting on behalf of a common fund may carry out uncovered sales of transferable securities, money market instruments or other financial instruments referred to in Article 45 (1)(e), (g) and (h).