BETA

Activities of Udo BULLMANN

Plenary speeches (44)

Presentation of the programme of activities of the Finnish Presidency of the Council (debate)
2019/07/17
Order of business
2019/09/16
Preparation for the Climate Action Summit and the Sustainable Development Goals Summit in New York (debate)
2019/09/17
Climate and ecological emergency (topical debate)
2019/10/23
Preparation of the European Council meeting of 12 and 13 December 2019 (debate)
2019/11/26
The new comprehensive EU-Africa strategy (debate)
2020/02/11
Dossiers: 2020/2500(RSP)
Foreign policy consequences of the COVID-19 crisis - The PRC national security law for Hong Kong and the need for the EU to defend Hong Kong's high degree of autonomy - The EU's response to the possible Israeli annexation in the West Bank (debate)
2020/06/18
Dossiers: 2020/2665(RSP)
Presentation of the programme of activities of the German Presidency (debate)
2020/07/08
Conclusions of the extraordinary European Council meeting of 17-21 July 2020 (continuation of debate)
2020/07/23
Dossiers: 2020/2732(RSP)
Conclusions of the European Council meeting of 15 and 16 October 2020, in particular the negotiations of the future relations with the UK (debate)
2020/10/21
Multiannual Financial Framework (including Own Resources), Rule of Law Conditionality Mechanism and the Recovery Fund for Europe (continuation of debate)
2020/11/11
EU Trade Policy Review (debate)
2020/11/24
Dossiers: 2020/2761(RSP)
Preparation of the European Council meeting of 10-11 December 2020 (debate)
2020/11/25
Preparation of an EU Strategy on COVID-19 vaccination, including its external dimension (debate)
2020/12/16
The state of play of the EU’s COVID-19 Vaccination Strategy (debate)
2021/02/10
New EU-Africa Strategy (debate)
2021/03/24
Dossiers: 2020/2041(INI)
2019 Discharge (debate)
2021/04/27
Dossiers: 2020/2141(DEC)
Meeting the Global COVID-19 challenge: effects of waiver of the WTO TRIPS agreement on COVID-19 vaccines, treatment, equipment and increasing production and manufacturing capacity in developing countries (debate)
2021/05/19
75th and 76th sessions of the United Nations General Assembly (debate)
2021/06/08
Dossiers: 2020/2128(INI)
Neighbourhood, Development and International Cooperation Instrument 2021-2027 – Global Europe (debate)
2021/06/08
Preparation of the G7 summit of 11-13 June and the EU-US Summit (debate)
2021/06/09
Situation in Afghanistan (debate)
2021/09/14
Dossiers: 2021/2877(RSP)
State of the Union (continuation of debate)
2021/09/15
Outcome of Global Summit Nutrition for Growth (Japan, 7-8 December) and increased food insecurity in developing countries (debate)
2021/12/14
EU-Africa relations (debate)
2022/02/15
Outcome of the Commission’s review of the 15-point action plan on trade and sustainable development (debate)
2022/10/05
Dossiers: 2022/2692(RSP)
The recent humanitarian and human rights situation in Tigray, Ethiopia, notably that of children
2022/10/05
Global food security as follow-up to the G20 Agriculture Ministers meeting (debate)
2022/10/19
The future European Financial Architecture for Development (debate)
2022/11/23
Dossiers: 2021/2252(INI)
Control of the financial activities of the European Investment Bank - annual report 2021 (debate)
2023/01/18
Dossiers: 2022/2153(INI)
The Global Gateway Initiative (debate)
2023/01/19
EU funding allocated to NGOs incriminated in the recent corruption revelations and the protection of EU financial interests (debate)
2023/02/13
The EU Guidelines on Human Rights Defenders (debate)
2023/03/15
Dossiers: 2021/2204(INI)
The need for a coherent strategy for EU-China Relations (debate)
2023/04/18
Children forcibly deported from Ukraine and the ICC arrest warrant for Vladimir Putin (debate)
2023/04/19
Lessons learnt from the Pandora Papers and other revelations (debate)
2023/06/14
Dossiers: 2022/2080(INI)
Implementation and delivery of the Sustainable Development Goals (debate)
2023/06/14
Dossiers: 2023/2010(INI)
Implementation and delivery of the Sustainable Development Goals (debate)
2023/06/14
Dossiers: 2023/2010(INI)
Tax the rich (topical debate)
2023/07/12
EU-Tunisia Agreement - aspects related to external migration policy (debate)
2023/09/12
Iran: one year after the murder of Jina Mahsa Amini (debate)
2023/09/12
Commission Work Programme 2024 (debate)
2023/10/17
Outcome of the SDGs Summit (18-19 September 2023, New York) – transformative and accelerated actions leading up to 2030 and beyond (debate)
2023/10/18
Humanitarian situation in Gaza, the need for the release of hostages and for an immediate humanitarian truce leading to a ceasefire and the prospects for peace and security in the Middle East (debate)
2023/11/22

Reports (1)

REPORT on the implementation and delivery of the Sustainable Development Goals
2023/06/05
Committee: DEVEENVI
Dossiers: 2023/2010(INI)
Documents: PDF(247 KB) DOC(88 KB)
Authors: [{'name': 'Petros KOKKALIS', 'mepid': 197743}, {'name': 'Udo BULLMANN', 'mepid': 4267}]

Shadow reports (2)

REPORT on the implementation and delivery of the Sustainable Development Goals (SDGs)
2022/06/09
Committee: DEVEENVI
Dossiers: 2022/2002(INI)
Documents: PDF(222 KB) DOC(89 KB)
Authors: [{'name': 'Barry ANDREWS', 'mepid': 204332}, {'name': 'Petros KOKKALIS', 'mepid': 197743}]
REPORT on the future European Financial Architecture for Development
2022/11/09
Committee: DEVE
Dossiers: 2021/2252(INI)
Documents: PDF(242 KB) DOC(90 KB)
Authors: [{'name': 'Charles GOERENS', 'mepid': 840}]

Opinions (3)

OPINION on discharge in respect of the implementation of the budget of the - 8th, 9th, 10th and 11th European Development Funds for the financial year [2019]
2021/02/11
Committee: DEVE
Dossiers: 2020/2190(DEC)
Documents: PDF(127 KB) DOC(63 KB)
Authors: [{'name': 'Udo BULLMANN', 'mepid': 4267}]
OPINION on discharge in respect of the implementation of the general budget of the European Union for the financial year 2019, Section III - Commission and executive agencies
2021/02/11
Committee: DEVE
Dossiers: 2020/2140(DEC)
Documents: PDF(133 KB) DOC(67 KB)
Authors: [{'name': 'Udo BULLMANN', 'mepid': 4267}]
OPINION on the lessons learnt from the Pandora Papers and other revelations
2022/12/12
Committee: DEVE
Dossiers: 2022/2080(INI)
Documents: PDF(128 KB) DOC(50 KB)
Authors: [{'name': 'Udo BULLMANN', 'mepid': 4267}]

Shadow opinions (2)

OPINION on Financial Activities of the European Investment Bank - annual report 2020
2021/03/19
Committee: DEVE
Dossiers: 2020/2124(INI)
Documents: PDF(129 KB) DOC(47 KB)
Authors: [{'name': 'Charles GOERENS', 'mepid': 840}]
OPINION on upscaling the 2021-2027 Multiannual Financial Framework: a resilient EU budget fit for new challenges
2022/10/13
Committee: DEVE
Dossiers: 2022/2046(INI)
Documents: PDF(126 KB) DOC(50 KB)
Authors: [{'name': 'Charles GOERENS', 'mepid': 840}]

Institutional motions (2)

MOTION FOR A RESOLUTION on the situation in Afghanistan, in particular the situation of women’s rights
2022/04/05
Dossiers: 2022/2571(RSP)
Documents: PDF(155 KB) DOC(52 KB)
JOINT MOTION FOR A RESOLUTION on the situation in Afghanistan, in particular the situation of women’s rights
2022/04/06
Dossiers: 2022/2571(RSP)
Documents: PDF(167 KB) DOC(53 KB)

Written explanations (1)

Amendments to Parliament’s Rules of Procedure with a view to strengthening integrity, independence and accountability (A9-0262/2023 - Gabriele Bischoff)

I welcome the adoption of more stringent rules on transparency and in particular the obligation for MEPs to publish their meetings online, which will strengthen the integrity of Parliament.I equally welcome that the rules acknowledge that in some cases, disclosure of meetings could endanger the life, physical integrity or liberty of an individual, and introduce a derogation for such cases.Indeed, in many places of the world, human rights defenders risk their lives as well as the lives of their families and loved ones every day, for the simple act of speaking up against human rights violations.Just for sharing their testimony, they may face harassment, arbitrary arrests, torture, execution or assassination.Yet it would go against the very principle of Parliament’s human rights work to refuse to hear the testimonies of human rights defenders who are at risk of harm so as to avoid publishing such meetings or endangering human rights defenders by identifying them by name.For these compelling reasons, it will not be appropriate to identify such individuals with their real name when declaring such meetings to the president.I expect the Bureau to reflect this reality in the implementation of these rules.
2023/09/13

Written questions (3)

Zero tolerance of child labour in EU trade
2022/03/17
Documents: PDF(50 KB) DOC(11 KB)
Rejection of official EU delegations by Tunisian authorities and consequences for EU-Tunisia Memorandum of Understanding
2023/10/11
Documents: PDF(48 KB) DOC(11 KB)
Urgent review of financial assistance for Palestine announced by the Commission
2023/10/12
Documents: PDF(49 KB) DOC(10 KB)

Amendments (1309)

Amendment 4 #

2023/2183(DEC)

Draft opinion
Paragraph 1
1. Notes that the implementation of the European Development Funds (EDFs) concerns countries that are facing aggravating impacts of climate change and are weakened by the consequence of the COVID pandemic, Russia’s war of aggression in Ukraine, as well as rising debt, generating growing inequality and increasing poverty levels; insists, therefore, that the remaining projects under the EDFs should focus on advancing the implementation of the Sustainable Development Goals;
2023/12/15
Committee: DEVE
Amendment 13 #

2023/2183(DEC)

Draft opinion
Paragraph 3 a (new)
3 a. Recognises the work of the Commission in ensuring the correct implementation of the EDF funds, notes that the Court of Auditors considers the EDFs’ accounts for 2022 to have been handled in accordance with applicable rules; notes with concern that the level of error in transactions, estimated by the Court of Auditors, grew from 4,6 % to 7,1 % between 2021 and 2022;
2023/12/15
Committee: DEVE
Amendment 14 #

2023/2183(DEC)

Draft opinion
Paragraph 3 b (new)
3 b. Highlights the fact that the legitimacy and effectiveness of EU development cooperation hinges on the correct implementation of activities and their proper funding; is concerned about the limited progress on the implementation of the recommendations by the Court of Auditors; calls on the Commission to further improve controls in order to decrease the amount of transactional errors and to fully implement the recommendations of the Court of Auditors;
2023/12/15
Committee: DEVE
Amendment 1 #

2023/2129(DEC)

Draft opinion
Paragraph 1
1. Is alarmed about the rising number of crises worldwide and the highest-ever humanitarian funding gap; is worried that Neighbourhood, Development and International Cooperation Instrument (NDICI) - Global Europe (GE) is stretched to its limits and is not sufficient to address existing needs; calls on the Member States to ensure that the cushion is mobilised only for purposes within its intended scope;
2023/12/18
Committee: DEVE
Amendment 8 #

2023/2129(DEC)

Draft opinion
Paragraph 1 a (new)
1 a. Recognises the work of the Commission in applying controls to make sure that transactions are made in a legitimate manner and that activities are implemented in accordance with the priorities set by the legislator; calls on the Commission to further improve controls in order to decrease the amount of transactional errors and to fully implement the recommendations of the Court of Auditors;
2023/12/18
Committee: DEVE
Amendment 9 #

2023/2129(DEC)

Draft opinion
Paragraph 1 b (new)
1 b. Highlights the fact that the legitimacy and effectiveness of EU development cooperation hinges on the correct implementation of activities and their proper funding; calls on the Commission to redouble efforts to find eligible projects and to ensure a sufficient amount of payments under the current expenditure ceiling;
2023/12/18
Committee: DEVE
Amendment 13 #

2023/2129(DEC)

Draft opinion
Paragraph 2
2. Notes that 2022 was the first full year of the implementation of the Global Gateway strategy; underlines that actions bringing together public and private investment must always be guided by development objectives; calls for more transparency and Parliament’s involvement in strategic choices involving Union funds; insists that Global Gateway should not only align with the EU interests but also with Agenda 2030, the Paris Agreement, the needs of partner countries and contribute to the achievement of the SDGs;
2023/12/18
Committee: DEVE
Amendment 24 #

2023/2129(DEC)

Draft opinion
Paragraph 4
4. Appreciates the role of local NGOs and partners in service delivery; underlines the importance of enhancing their capacity to manage and implement actions financed by the EU and invites the Commission to facilitate adequate training towards this aim; is concerned about the continued difficulties faced by small local NGOs to access Union funding; highlights the efficacy of local ownership in project implementation as concerns prioritisation, allocation of resources and building local know-how;
2023/12/18
Committee: DEVE
Amendment 35 #

2023/2129(DEC)

Draft opinion
Paragraph 6
6. Welcomes the finding of the ECA report on the EU budget for 2022 that DG ECHO implemented ECA recommendation and established a procedure ensuring that partner organisations base their allocation of shared costs on expenditure actually incurred; urges the Commission to act upon ECA recommendations that have not been implemented.
2023/12/18
Committee: DEVE
Amendment 16 #

2023/2029(INI)

Motion for a resolution
Recital B
B. whereas the Instrument’s external investment framework brings together blended finance and guarantees under the European Fund for Sustainable Development Plus (EFSD+) External Action Guarantee (EAG), which is to be implemented by eligible partners in an open and collaborative approach, with a specific role for the European Investment Bank (EIB); whereas the EFSD+ considerably expands the financial envelope of its predecessor, the EFSD, and will be able to guarantee operations up to EUR 53.4 billion through EAG; whereas the ‘policy first’ principle must result in a cooperation driven by policy objectives and ensure that the European financial architecture for development is aligned in this regard; proposes for example to refine the broad and vague MSMEs window into sub-windows that should be dedicated to individual entrepreneurs and cooperatives;
2023/09/15
Committee: AFETDEVE
Amendment 22 #

2023/2029(INI)

Motion for a resolution
Recital B a (new)
Ba. whereas inequalities are amongst the root causes of instability, insecurity and violence;
2023/09/15
Committee: AFETDEVE
Amendment 23 #

2023/2029(INI)

Motion for a resolution
Recital B b (new)
Bb. whereas the promotion of human rights is a cornerstone of the EU’s external action;
2023/09/15
Committee: AFETDEVE
Amendment 24 #

2023/2029(INI)

Motion for a resolution
Recital B c (new)
Bc. whereas human development remains a key area for the EU’s external and development policies; whereas investments in health care, education, nutrition and social protection are paramount to ensure universal access to these services which constitute basic human rights;
2023/09/15
Committee: AFETDEVE
Amendment 55 #

2023/2029(INI)

Motion for a resolution
Paragraph 4
4. Welcomes the consolidation of most of the EU’s external action in a single Instrument, gradually streamlining and harmonising the numerous previous instruments; is of the opinion, however, that although this simplification has enhanced flexibility and efficiency, it has not been accompanied by sufficient levels of effective accountability; underlines in this regard that measures can only be considered effective when this can be proven by clear and comparable monitoring and evaluation mechanisms; reminds of the findings of the 2023 ECA special report on programming of the Instrument, which points out that baseline and target indicators as well as data sources in MIPs where fragmented or missing; calls on the Commission to make the use of ‘Global Europe Results Framework’ (GERF) indicators compulsory for all measures throughout the entire programming cycle of MIPs, that is planning, implementation and reporting of results and for considerably increasing EU delegations capacities; emphasises that the Instrument should provide an efficient, effective, coherent and inclusive implementation, underpinned by the ‘policy first’ principle and in line with the strategic interests and values of the EU; reiterates its call on the Commission to publish, at least biannually, an aid effectiveness progress report, that consistently includes standardized, comprehensible and comparable indicators, covering joint planning, joint implementation and joint results frameworks; calls on the Commission to present this progress report to Parliament;
2023/09/15
Committee: AFETDEVE
Amendment 94 #

2023/2029(INI)

Motion for a resolution
Paragraph 9
9. Stresses the importance of meeting all the Instrument’s spending targets and calls for detailed information on the progress made in this regard; regrets, in particular, the substantial deficit in reaching the Instrument’s climate target and the biodiversity target; recalls that biodiversity is a crucial factor in combatting climate change; calls for a detailed plan outlining how the Commission intends to meet the climatespending targets by the end of the MFF;
2023/09/15
Committee: AFETDEVE
Amendment 98 #

2023/2029(INI)

Motion for a resolution
Paragraph 10
10. Reaffirms the commitment set out in the Instrument to eradicating poverty, fighting inequalities and discrimination and promoting human development; recalls that actions under the Instrument are expected to contribute at least 20 % of the ODA funded under the Instrument to social inclusion and human development; underlines that the EFSD+ should aim to support investments as a means of contributing to the achievement of the SDGs by fostering sustainable and inclusive economic, environmental and social development; calls in this regard for the full implementation of the EU Gender Action Plan III, as well as the operationalisation of the EU Global Health Strategy and the Youth Action Plan in EU external action; underlines the need to enhance the Union’s efforts to promote and protect human rights in its external action, in view of the mid-term review of the implementation of the EU Action Plan on Human Rights and Democracy;
2023/09/15
Committee: AFETDEVE
Amendment 103 #

2023/2029(INI)

Motion for a resolution
Paragraph 10
10. Reaffirms the commitment set out in the Instrument to eradicating poverty, fighting inequalities and discrimination and promoting human development; emphasises the importance of following a holistic approach to human security as a new guiding paradigm;
2023/09/15
Committee: AFETDEVE
Amendment 109 #

2023/2029(INI)

Motion for a resolution
Paragraph 10 a (new)
10a. Underlines the importance of guaranteeing an effective needs-based and people-centred approach in the EU’s external action; highlights the essential role that local partners and civil society should have in the design, implementation, monitoring and evaluation of the programmes;
2023/09/15
Committee: AFETDEVE
Amendment 142 #

2023/2029(INI)

Motion for a resolution
Paragraph 14
14. Notes the specific role played by the EIB in the European financial architecture for development, as set out in Article 209 of the TFEU and in Article 36 of the Regulation establishing the Instrument, and acknowledges the EIB’s potential to mobilise additional funding that contributes to the Instrument’s objectives; welcomes the creation of EIB Global, which has been operational since 1 January 2022 and sets out to increase the bank’s presence and expertise in developing countries; notes that, since the setting up of the new development branch, the EIB Global has made record use of the dedicated investment window provided by the Instrument, delivering over EUR 10 billion in 2022, notably in support of Ukraine and the Global Gateway; recalls the importance of the EU budget as the sole guarantor for the EIB’s to provide loans outside the EU in support of EU policies; calls for an increase in the guarantees granted to the EIB by the EU budget in order to allow the EU bank to continue to deliver vital public and private sector operations in Ukraine and to expand its activities in the Global South; calls on the EIB to use its position to mobilise investments for sustainable development in line with the purpose and criteria established by the EFSD+; highlights the important role of the EIB in partnering with the Commission to deliver EUR 100 billion of the 300 billion commitment under the Global Gateway strategy; calls on the EIB to continue to strengthen its presence in the field by building on the current approach of co- location within EU delegations, while further exploiting possible synergies with the EBRD and other European DFIs; underlines that EU investment projects should be subject to evaluation, monitoring and reporting, in order to avoid unintended negative impacts; in this regard, calls on the Commission, together with EIB, EBRD and other European DFIs to develop standardised procedures, including ex ante and ex post evaluations and by applying the Commission’s Result Management Framework (ReMF); urges the Commission to publish this Framework and to make sure that DFIs using their own indicators to clearly define them and explain their application and comparability with the ReMF; calls for the introduction of standardised complaint mechanisms for all DFIs that are sufficiently staffed and resourced and easily accessible; calls on the Commission to follow-up environmental, social and governance (ESG) standards of all investment projects; encourages the EIB to continue to actively engage in developing planning, monitoring and evaluation at country level, hand in hand with the EU delegations and through co- financing with development finance institutions; calls for stronger coordination between the Commission and the EEAS and EU delegations to facilitate discussions and cooperation with relevant actors on the ground in order to identify projects which best meet development effectiveness objectives;
2023/09/15
Committee: AFETDEVE
Amendment 164 #

2023/2029(INI)

Motion for a resolution
Paragraph 16
16. Welcomes the Team Europe approach and its aim of increasing the coherence, impact and visibility of EU development projects, and calls for more joint actions with the Member States, in particular Team Europe Initiatives (TEIs); recalls however that individual Member States’ contributions have to be indicated in MIPs in order to ensure certainty over the Member States’ financial support; calls on the Commission to review the effectiveness of the approach including Member States’ compliance, and to inform Parliament of its findings;
2023/09/15
Committee: AFETDEVE
Amendment 167 #

2023/2029(INI)

Motion for a resolution
Paragraph 16
16. Welcomes the Team Europe approach and its aim of increasing the coherence, impact and visibility of EU development projects, and calls for more joint actions with the Member States, in particular Team Europe Initiatives (TEIs); calls on the Commission to review the effectiveness of the approach and to inform Parliament of its findings; calls on the Commission to clarify the roles surrounding the Team Europe approach and to propose a mechanism that increases the transparency and democratic scrutiny of the initiative;
2023/09/15
Committee: AFETDEVE
Amendment 176 #

2023/2029(INI)

Motion for a resolution
Paragraph 17
17. Welcomes the Global Gateway strategy as a concerted EU response to global challenges; regrets, however, the lack of transparency and of a regulatory framework for the strategy’s governance and implementation within the Instrument’s objectives and priorities; is of the opinion that in times of new geostrategic challenges, EU foreign and security policy and development cooperation actors have to better coordinate and cooperate in the framework of the Global Gateway in order to give weight to EU positions and values in a new multilateral world order and to show leadership in international initiatives, such as G7 Partnership for Global Infrastructure Investment (PGII); stresses that massive investments are required in both hard and soft infrastructure in developing countries, from digital, transport and energy networks to health, education and food systems; regrets, however, the lack of transparency and of a regulatory framework for the strategy’s governance and implementation within the Instrument’s objectives and priorities; stresses the need for adequate parliamentary involvement and scrutiny as well as better staffed and resourced EU delegations and consultation with the business sector and CSOs through a comprehensible and transparent governance framework that would quickly deliver a boost of investment and visibility of EU in partner countries at the backdrop of a complex geopolitical context; Underlines that the joint communication of the Global Gateway leaves room for interpretation about the relationship of its different bodies that remains largely informal; regrets the limited access of information in particular from the steering committee; calls on the Commission to update the joint communication and to provide a clear definition of what a global gateway project is and how to distinguish it from other investment projects; Calls for clarity as to how the EU financial regulation and public procurement rules apply in the funding of Global Gateway for the joint projects in partner developing countries; calls to ensure that the prerogative is always given to the EU and local partner or like-minded countries companies; regrets the lack of clarity on the financing for the Global Gateway strategy and recalls that such new initiatives should be financed through fresh appropriations and the related upward revision of the Heading 6 ceiling;
2023/09/15
Committee: AFETDEVE
Amendment 188 #

2023/2029(INI)

Motion for a resolution
Paragraph 19
19. Recalls Parliament’s functions of political control and consultation and stresses the role of the high-level geopolitical dialogue in providing general orientations for the implementation of the Instrument; powers of political and budgetary control and consultation; underlines that the Parliament needs full and timely access to documents and has to be able to monitor the impact and progress of projects, which is, why it needs full access to standardised baseline and target indicators as well as data sources; regrets that decision- making processes in particular in the framework of the Global Gateway are still undefined and not fully transparent; points out that the overlap of financial instruments, for example in the context of guarantees, makes scrutiny difficult; calls on the Commission to provide after consultations with the Parliament a comprehensible, clear and complete overview in a single document about the financial instruments their relations with each other and the different actors as well as a complete and precise overview about grants and guarantees and how they are covered; furthermore, calls on the Commission to provide regular information about the Global Gateway steering group and to make the Result Management Framework (ReMF) fully available; calls for an oversight of the complaint mechanisms and for regular information about complaints; calls on the Parliament to establish a sufficiently staffed and resourced parliamentary oversight body for the Instrument including EFSD+ and Global Gateway projects and calls on the Commission to provide a consistent inter-institutional information flow with the European Parliament being kept informed about investment projects including Global Gateway projects; is of the opinion that the format of the high-level geopolitical dialogue alone cannot fully provide general orientations for the implementation of the Instrument; reiterates that Parliament’s positions need to be fully taken into consideration; also reiterates that European Parliament resolutions constitute part of the overall policy framework for the implementation of the Instrument;
2023/09/15
Committee: AFETDEVE
Amendment 233 #

2023/2029(INI)

Motion for a resolution
Paragraph 28 a (new)
28a. Notes that pilot projects and preparatory actions are new initiatives that might turn into EU funding programmes when they turned out to be successful; underlines that they are an opportunity for the European Parliament to introduce programmes that would otherwise not have been financed; highlights that the Insrtument, when interpreted broadly, constitutes in theory a legal basis for all initiatives, which prevents eligibility and therefore makes de-facto initiatives from the European Parliament impossible; calls on the Commission to provide a legislative proposal that enables pilot projects and preparatory actions to be proposed by the Parliament, provided, the proposals are considered useful by the EU delegations and provided additional benefits as they would otherwise not have been financed in praxis;
2023/09/15
Committee: AFETDEVE
Amendment 1 #

2023/2010(INI)

Motion for a resolution
Citation
– having regard to UN Resolution 70/1 entitled ‘Transforming our World – the 2030 Agenda for Sustainable Development’ (the 2030 Agenda), adopted at the UN Sustainable Development Summit on 25 September 2015 in New York and establishing the Sustainable Development Goals (SDGs), – having regard to the UN Department of Economic and Social Affairs’ publication of January 2022 entitled ‘SDG Good Practices: A compilation of success stories and lessons learned in SDG implementation – Second Edition’, – having regard to the UN Global Sustainable Development Report 2019, entitled ‘The Future is Now: Science for Achieving Sustainable Development’, – having regard to the UN Convention on Biological Diversity (UNCBD) and the Kunming-Montreal Global Biodiversity Framework, agreed at the 15th meeting of the Conference of Parties to the UNCBD, – having regard to the UN Framework Convention on Climate Change (UNFCCC), the agreement adopted at the 21st Conference of the Parties to the UNFCCC (COP21) in Paris on 12 December 2015 and the agreement on new ‘loss and damage’ funding for vulnerable countries adopted at COP27 in Sharm El-Sheikh on 20 November 2022, – having regard to the third International Conference on Financing for Development, held in Addis Ababa from 13 to 16 July 2015, – Sustainable Development Report 2021, entitled ‘The Decade of Action for the Sustainable Development Goals’, – General’s report entitled ‘Our Common Agenda’, presented to the UN General Assembly, and to the mandate that UN General Assembly Resolution 76/6 of 15 November 2021 gave the UN Secretary- General to follow up on his report, – having regard to the joint statement by the Council and the representatives of the governments of the Member States meeting within the Council, the European Parliament and the Commission of 30 June 2017 on the New European Consensus on Development – ‘Our world, our dignity, our future’1, – having regard to Decision (EU) 2022/591 of the European Parliament and of the Council of 6 April 2022 on a General Union Environment Action Programme to 20302, – having regard to the European Environment Agency report of 4 December 2019 entitled ‘The European environment – state and outlook 2020: Knowledge for transition to a sustainable Europe’, – work programmes for 2020 (COM(2020)0037), 2021 (COM(2020)0690), 2022 (COM(2021)0645) and 2023 (COM(2022)0548), and to their references to the SDGs, in particular the EU’s first voluntary review of SDG implementation, 1 OJ C 210, 30.6.2017, p. 1. 2 OJ L 114, 12.4.2022, p. 22. – having regard to the integration of the SDGs into the better regulation framework, including the Commission communication of 29 April 2021 entitled ‘Better regulation: Joining forces to make better laws’ (COM(2021)0219), – having regard to the Council conclusions of 24 October 2019 on the Economy of Wellbeing3, – having regard to the Council conclusions of 22 June 2021 entitled ‘A comprehensive approach to accelerate the implementation of the UN 2030 Agenda for sustainable development – Building back better from the COVID-19 crisis’, – having regard to Eurostat’s 2021 monitoring report on progress towards the SDGs in an EU context, published on 15 June 2021, – having regard to its resolution of 9 June 2021 on the EU Biodiversity Strategy for 2030: Bringing nature back into our lives4, – having regard to its resolution of 10 March 2022 on the European Semester for economic policy coordination: annual sustainable growth survey 20225, – having regard to its resolution of 23 June 2022 on the implementation and delivery of the Sustainable Development Goals (SDGs)6, – having regard to the Joint Declaration of the European Parliament, the Council of the European Union and the European Commission entitled ‘EU Legislative Priorities for 2023 and 2024’7, – having regard to Regulation (EU) 2021/947 of the European 3 OJ C 400, 26.11.2019, p. 9. 4 OJ C 67, 8.2.2022, p. 25. 5 OJ C 347, 9.9.2022, p. 181. 6 OJ C 32, 27.1.2023, p. 28. 7 OJ C 491, 23.12.2022, p. 1. Parliament and of the Council of 9 June 2021 establishing the Neighbourhood, Development and International Cooperation Instrument – Global Europe, amending and repealing Decision No 466/2014/EU of the European Parliament and of the Council and repealing Regulation (EU) 2017/1601 of the European Parliament and of the Council and Council Regulation (EC, Euratom) No 480/20098, – Rules of Procedure, – having regard to the joint deliberations of the Committee on Development and the Committee on the Environment, Public Health and Food Safety under Rule 58 of the Rules of Procedure, – having regard to the report of the Committee on Development and the Committee on the Environment, Public Health and Food Safety (A9-0000/2023), 8 OJ L 209, 14.6.2021, p. 1. 9 OJ C 210, 30.6.2017, p. 1. 10 OJ L 114, 12.4.2022, p. 22. 11 OJ C 400, 26.11.2019, p. 9. 12 OJ C 67, 8.2.2022, p. 25. 13 OJ C 347, 9.9.2022, p. 181. 14 OJ C 32, 27.1.2023, p. 28. 15 OJ C 491, 23.12.2022, p. 1. Sendai Framework for Disaster Risk Reduction 2015-2030, adopted by UN member states at the Third UN World Conference on Disaster Risk Reduction on 18 March 2015, – having regard to the UN Framework Convention on Climate Change (UNFCCC), the agreement adopted at the 21st Conference of the Parties to the UNFCCC (COP21) in Paris on 12 December 2015 and the agreement on new ‘loss and damage’ funding for vulnerable countries adopted at COP27 in having regard to the UN Sharm El-Sheikh on 20 November 2022, – having regard to the IPCC Special Report on the Ocean and Cryosphere in a Changing Climate of 24 September 2019, having regard to the UN Secretary- – having regard to the IPCC sixth assessment report (AR6) of 28 February 2022 and its Synthesis Report of 20 March 2023, – having regard to the Human Development Report 2021/22, entitled "Uncertain Times, Unsettled Lives: Shaping our Future in a Transforming World, – having regard to the third International Conference on Financing for Development, held in Addis Ababa from 13 to 16 July 2015, – having regard to the 6th European Union – African Union Summit of 17-18 February 2022 and the related final statement entitled ‘A Joint Vision for 2030’, – having regard to the negotiations on a new Partnership Agreement between the EU and the countries of Africa, the Caribbean and the Pacific (ACP), to replace the Cotonou agreement, – having regard to the 2022 UN Transforming Education Summit on 16- having regard to the Commission 19 September in New York, – having regard to the 2023 SDG Summit which will be convened in September 2023, during the United Nations General Assembly high-level week, – having regard to the Summit of the Future, scheduled for September 2024, to adopt major reforms of multilateral institutions and financing for sustainable development at global level; – having regard to the UN Sustainable Development Report 2021, entitled ‘The Decade of Action for the Sustainable Development Goals’, and the UN Sustainable Development Report 2022, entitled ‘From Crisis to Sustainable Development: the SDGs as Roadmap to 2030 and Beyond’, – having regard to the UN’s Sustainable Development Goals Report 2022, – having regard to the ‘SDG Acceleration Actions’ online database, – having regard to the initiative by the UN Secretary-General ‘SDG Stimulus to Deliver Agenda 2030' of February 2023, – having regard to the resolution of 8 October 2021 of the UN Human Rights Council (UNHRC), and the resolution of 28 July 2022 of the UN General Assembly, on the human right to a clean, healthy and sustainable environment, – having regard to the UNEA Resolution “5/10. The environmental dimension of a sustainable, resilient and inclusive post-COVID-19 recovery”, adopted by the United Nations Environment Assembly (UNEA) on 2 March 2022, – having regard to the WHO One Health Initiative, – having regard to the Draft agreement under the United Nations Convention on the Law of the Sea on the conservation and sustainable use of marine biological diversity of areas beyond national jurisdiction (BBNJ) of 4 March 2023 (UN High Seas Treaty), – Having regard to the United Nations Convention on the Rights of Persons with Disabilities (CRPD) and the EU Strategy on the Rights of Persons with Disabilities 2021-2030, – having regard to the UN Secretary- having regard to Rule 54 of its General’s report entitled ‘Our Common Agenda’, presented to the UN General Assembly, and to the mandate that UN General Assembly Resolution 76/6 of 15 November 2021 gave the UN Secretary- General to follow up on his report, – having regard to the joint statement by the Council and the representatives of the governments of the Member States meeting within the Council, the European Parliament and the Commission of 30 June 2017 on the New European Consensus on Development – ‘Our world, our dignity, our future’9, – having regard to Decision (EU) 2022/591 of the European Parliament and of the Council of 6 April 2022 on a General Union Environment Action Programme to 203010, – having regard to the European Environment Agency report of 4 December 2019 entitled ‘The European environment – state and outlook 2020: Knowledge for transition to a sustainable Europe’, – having regard to the OECD report of 10 November 2022 entitled ‘Global Outlook on Financing for Sustainable Development 2023: No Sustainability Without Equity’, – having regard to the opinions of the European Economic and Social Committee of 19 September 2018 entitled ‘Indicators better suited to evaluate the SDGs – the civil society contribution’, 30 October 2019 entitled ‘Leaving no one behind when implementing the 2030 Sustainable Development Agenda’, and 08 December 2021 entitled ‘Renewed sustainable finance strategy', – having regard to the Opinion of the Committee of the Regions of 8 February 2023 entitled ‘Progress in the implementation of the SDGs’, – having regard to the ‘Green Deal’ and the ‘Global Gateway’ initiatives, launched on 11 December 2019 and on 1 December 2021, respectively, – having regard to the Commission work programmes for 2020 (COM(2020)0037), 2021 (COM(2020)0690), 2022 (COM(2021)0645) and 2023 (COM(2022)0548), and to their references to the SDGs, in particular the EU’s first voluntary review of SDG implementation, – having regard to the Commission staff working document of 18 November 2020 entitled ‘Delivering on the UN’s Sustainable Development Goals – A comprehensive approach’ (SWD(2020)0400); – having regard to the integration of the SDGs into the better regulation framework, including the Commission communication of 29 April 2021 entitled ‘Better regulation: Joining forces to make better laws’ (COM(2021)0219), – having regard to the Commission Communication on decent work worldwide for a global just transition and sustainable recovery (COM(2022) 66 final), in particular its commitments to achieve the SDGs, – having regard to the European Commission Social Economy Action Plan adopted on 9 December 2021, – having regard to the Council conclusions of 24 October 2019 on the Economy of Wellbeing11, – having regard to the Council Recommendation of 16 June 2022 on Learning for the Green transition and sustainable development, – having regard to the Council conclusions of 22 June 2021 entitled ‘A comprehensive approach to accelerate the implementation of the UN 2030 Agenda for sustainable development – Building back better from the COVID-19 crisis’, – having regard to the Council conclusions of 21 June 2022 entitled ‘The transformative role of education for sustainable development and global citizenship as an instrumental tool for the achievement of the sustainable development goals (SDGs)’, – having regard to Eurostat’s 2021 monitoring report on progress towards the SDGs in an EU context, published on 15 June 2021, – having regard to its resolution of 8 September 2015 on Follow Up to the European Citizens' Initiative Right2Water and its resolution of 5 October 2022 on access to water as a human right – the external dimension, – having regard to its resolution of 6 July 2017 on EU action for sustainability, – having regard to its resolution of 14 March 2019 on the annual strategic report on the implementation and delivery of the Sustainable Development Goals (SDGs), – having regard to its resolution of 28 November 2019 on the climate and environment emergency, – having regard to its resolution of 9 June 2021 on the EU Biodiversity Strategy for 2030: Bringing nature back into our lives12, – having regard to its resolution of 10 March 2022 on the European Semester for economic policy coordination: annual sustainable growth survey 202213, – having regard to its resolution of 23 June 2022 on the implementation and delivery of the Sustainable Development Goals (SDGs)14, – having regard to its resolution of 6 July 2022 on the EU action plan for the social economy, – having regard to its resolution of 24 November 2022 on the future European Financial Architecture for Development, – having regard to the Joint Declaration of the European Parliament, the Council of the European Union and the European Commission entitled ‘EU Legislative Priorities for 2023 and 2024’15, – having regard to its resolution of 14 March 2023 on Policy Coherence for Development, – having regard to Article 3(5) of the Treaty on European Union and Article 208(1) of the Treaty on the Functioning of the European Union, – having regard to Regulation (EU) 2021/947 of the European Parliament and of the Council of 9 June 2021 establishing the Neighbourhood, Development and International Cooperation Instrument – Global Europe, amending and repealing Decision No 466/2014/EU of the European Parliament and of the Council and repealing Regulation (EU) 2017/1601 of the European Parliament and of the Council and Council Regulation (EC, Euratom) No 480/200916. – having regard to Rule 54 of its Rules of Procedure, – having regard to the joint deliberations of the Committee on Development and the Committee on the Environment, Public Health and Food Safety under Rule 58 of the Rules of Procedure, – having regard to the report of the Committee on Development and the Committee on the Environment, Public Health and Food Safety (A9-0000/2023),
2023/05/09
Committee: DEVEENVI
Amendment 2 #

2023/2010(INI)

Motion for a resolution
Recital
A. whereas, with less than seven years to go until the deadline for the implementation of the 2030 Agenda, the new geopolitical landscape and the multiple crises in various areas have hinderfurther slowed the achievement of the SDGs; whereas the 2030 Agenda and the 17 SDGcollective action on a new scale is urgently needed to respond to poverty that damages hundreds of millions of lives and to respond to the unprecedented threats to the habitability of our planet posed by the interlinked climate and biodiversity crises; whereas the 2030 Agenda and the 17 SDGs, 169 targets and accompanying indicators which represent the only globally shared and politically agreed framework for evidence- based policies are key to addressing the current challenges and reorienting the global 16 OJ L 209, 14.6.2021, p. 1. compass towards a socially and environmentally just transition that leaves no one behindwithin planetary boundaries that leaves no one and no place behind; whereas the SDGs, being universal and indivisible, are applicable to all actors, including civil society and social partners, and public sector as well as private; whereas these actors should be systematically involved in the elaboration and implementation of policies related to the SDGs;
2023/05/09
Committee: DEVEENVI
Amendment 3 #

2023/2010(INI)

Motion for a resolution
Recital A a (new)
A a. whereas, despite some progress on certain SDGs before the crises, some trends are now reversed; whereas, according to the UN Sustainable Development Solutions Network (SDSN) Sustainable Development Report 2022, for the second year in a row, the world is no longer making progress on the SDGs and the average SDG Index score further declined in 2021, with no country being on track to achieve all 17 SDGs by 2030; whereas Europe is on track to meet 26 SDG targets, has to accelerate for 64 targets and the current trend needs to be reversed for 15 targets, whereas the Human Development Index (HDI) in 2020 and 2021 recorded the only declines in the 30-year history of the index, erasing the gains made in the previous five years; whereas EU countries are closest to achieving the 2030 Agenda targets, yet are responsible for larger negative spillovers, which undermine the ability of other countries to achieve their targets; whereas if the world's population were to consume as much as the EU, 2.8 Earths would be needed to sustain the demand of natural resources required by such a lifestyle;
2023/05/09
Committee: DEVEENVI
Amendment 4 #

2023/2010(INI)

Motion for a resolution
Recital A b (new)
A b. whereas the EU Institutions and the 27 EU Member States together constitute the largest donor for developing countries, responsible for approximately 46% of the total ODA provided by all OECD ODA members to developing countries; whereas prior to the COVID- 19 pandemic, the annual SDG global financing gap was estimated at USD 2.5 trillion; whereas the pandemic is estimated to have widened this gap to at least USD 3.9 trillion per year; whereas the fiscal space for relevant policies in developing countries’ is critically reduced by huge and further increasing debt burdens, with 37 out of 69 of the world’s poorest countries either at high risk or already in debt distress as of November 2022, limiting their capacity to invest in achieving the SDGs; whereas that fiscal space is furthermore reduced by external shocks related to the cumulating crises and the absence of a conducive international environment for domestic resource mobilisation, whereas the United Nations estimate that at least $500 billion annually needs to be delivered to provide the necessary SDG stimulus; whereas the UN’s SDG Stimulus Plan aims to tackle the high cost of debt and rising risks of debt distress, to massively scale up affordable long-term financing for development and to expand contingency financing to countries in need; whereas the private sector will continue to play a critical role in the achievement of the SDGs; whereas France will host an international summit on 22 and 23 June 2023 on the theme of a "New Global Financial Pact" in order to take stock of all the ways and means to strengthen financial solidarity with the countries of the Global South; whereas the current context demands extraordinary sustained response from all EU actors and a system- wide review of the European Financial Architecture for Development (EFAD) ;
2023/05/09
Committee: DEVEENVI
Amendment 5 #

2023/2010(INI)

Motion for a resolution
Citation 5 a (new)
— having regard to the Synthesis Report of the IPCC sixth assessment report (AR6)1a _________________ 1a https://www.ipcc.ch/assessment- report/ar6/
2023/03/31
Committee: DEVEENVI
Amendment 5 #

2023/2010(INI)

Motion for a resolution
Recital A c (new)
A c. whereas, with the compound shocks and permanent crises ranging from climate change and biodiversity emergency, the COVID-19 pandemic, and the Russian war of aggression against Ukraine to the rising prices of energy, food and fertilisers, fragile supply chains, higher inflation, unsustainable debt burden and tightened monetary policy, a general trend emerges of a “two-track recovery” between advanced economies and developing countries, characterised by a great financial divide, with high borrowing costs for developing countries as one symptom of an imbalanced international financial and monetary system, worsening the lack of progress towards the achievement of the SDGs; whereas the international system does not have the tools to effectively facilitate debt restructurings that sufficiently reduce countries’ debt burdens or to address a systemic debt crisis;
2023/05/09
Committee: DEVEENVI
Amendment 6 #

2023/2010(INI)

Motion for a resolution
Citation 5 b (new)
— having regard to the Human Development Report 2021/22, entitled "Uncertain Times, Unsettled Lives: Shaping our Future in a Transforming World"1a _________________ 1a https://hdr.undp.org/content/human- development-report-2021-22
2023/03/31
Committee: DEVEENVI
Amendment 6 #

2023/2010(INI)

Motion for a resolution
Recital A d (new)
A d. whereas 2023 is a pivotal year for the review of the SDGs and a push for their realisation by 2030, especially with the EU presenting its first Voluntary Review report at the HLPF in July 2023 and the global SDGs Summit on 19-20 September 2023 marking the mid-point of the 2030 Agenda and the SDGs and bringing together political and thought leaders from governments, international organizations, the private sector, civil society, women and youth and other stakeholders; whereas the 2023 SDG Summit will be a crucial moment for a renewed political commitment to the SDGs to salvage the 2030 Agenda, given that it takes place just once every four years;
2023/05/09
Committee: DEVEENVI
Amendment 7 #

2023/2010(INI)

Motion for a resolution
Recital A e (new)
Ae. whereas the Commission has not yet devised an overarching strategy for the EU’s implementation of Agenda 2030 or a financing plan for the SDGs, as requested on repeated occasions since the adoption of the 2030 Agenda for Sustainable Development in 2015 by the Parliament, the Council and the European Council; whereas the Commission has committed to taking a ‘whole-of-government’ approach to SDG implementation; whereas a European governance strategy integrating the SDGs in a transversal approach would allow greater alignment between, and efficiency in, public policies;
2023/05/09
Committee: DEVEENVI
Amendment 8 #

2023/2010(INI)

Motion for a resolution
Recital A e bis(new)
A e bis whereas, in 2021, the EU's collective ODA represented 0.49% of EU Gross National Income (GNI), which remains below the agreed target of 0.7 per cent of donor country gross national income; whereas, with the adoption of the €79.5 billion Neighbourhood, Development and International Cooperation Instrument – Global Europe (NDICI-GE) under the EU budget for the period 2021-2027, the EU can deploy strategically and flexibly this single unified development instrument to support developing countries more effectively; whereas the establishment of the European Fund for Sustainable Development Plus (EFSD+) provides an open architecture for public development banks (PDBs) and development finance institutions (DFIs) to leverage public and private finance through EU guarantees and blended finance, to achieve more ambitious inclusive development and green impact; whereas there are serious doubts as to whether the EU’s new Global Gateway strategy aligns with development effectiveness principles or is a suitable tool to fill the SDG financing gap; whereas reducing inequalities (SDG 10) is inextricably linked to the overall implementation of the Agenda 2030 and to effective climate action; whereas sustainable resource mobilisation is essential for transformative public action; whereas it is crucial to scale up efforts related to tax justice, climate justice and intergenerational justice both within developed and developing countries.
2023/05/09
Committee: DEVEENVI
Amendment 9 #

2023/2010(INI)

Motion for a resolution
Citation 7 a (new)
— having regard to the UN’s Sustainable Development Goals Report 20221a _________________ 1a https://unstats.un.org/sdgs/report/2022/Th e-Sustainable-Development-Goals- Report-2022.pdf
2023/03/31
Committee: DEVEENVI
Amendment 9 #

2023/2010(INI)

Motion for a resolution
Recital A f (new)
A f. whereas the EU’s political commitment to Policy Coherence for Development (PCD) was reaffirmed in the 2017 New European Consensus on Development, which identified PCD as a ‘crucial element of the [EU’s] strategy to achieve the SDGs and an important contribution to the broader objective of Policy Coherence for Sustainable Development (PCSD); whereas PCSD is an approach to integrate the economic, social, and environmental dimensions of sustainable development at all stages of the policy-making cycle, in order to foster synergies across policy areas, and identify and reconcile potential trade-offs, as well as address the international spillover effects of EU policies; whereas close cooperation between all development finance institutions, governments, EU institutions and all partners is urgently needed to ensure that limited public funds are used in the most effective and efficient way, keeping in mind that the successful mobilisation of further capital, both public and private, is essential; whereas, notably, Article 208 TFEU requires the EU to incorporate development cooperation objectives into all internal and external policies that are likely to affect developing countries;
2023/05/09
Committee: DEVEENVI
Amendment 10 #

2023/2010(INI)

Motion for a resolution
Recital A f (new)
A g. whereas the success of the European Green Deal and the pledge of a just green transition is inextricably linked to the achievement of the SDGs; whereas the 2019 IPBES Global Assessment provides evidence that the current negative trends in biodiversity and ecosystems will undermine progress towards 80% of assessed SDG targets relating to poverty, hunger, health, water, cities, climate, oceans and land; whereas the climate and biodiversity crises are intertwined and need to be addressed in tandem and coherently; whereas the external dimension of the Green Deal and the Global Gateway strategy should allow Europe to better project itself abroad, articulating a green vision for climate mitigation and adaptation, nature protection and biodiversity, addressing infrastructure development and broader development needs anchored in European strategic objectives; whereas in doing so, the EU is also committed to inclusive approaches, supporting women and youth, and leaving no one behind;
2023/05/09
Committee: DEVEENVI
Amendment 11 #

2023/2010(INI)

Motion for a resolution
Recital A h(new)
A h. whereas the 8th Union Environment Action Programme is the EU’s common legally agreed climate and environmental agenda until 2030 and forms the basis for achieving the environmental and climate objectives defined under the UN 2030 Agenda and its SDGs, pursuing a wellbeing economy as a priority; however requires strengthening environmentally positive incentives as well as phasing out environmentally harmful subsidies, in particular fossil fuel subsidies, at Union, national, regional and local level, without delay;
2023/05/09
Committee: DEVEENVI
Amendment 12 #

2023/2010(INI)

Motion for a resolution
Recital A i and A j (new)
A i. whereas education is a key resource for achieving the SDGs and a lifeline for people in crisis situations; whereas yet hundreds of millions of the most vulnerable children, youth and adults are still excluded from education today; whereas the education-related goals and targets of the 2030 Agenda have been severely derailed and risk leaving learners and societies ill-equipped to face an uncertain future; whereas globally 760 million people still have no access to electricity and 2.4 billion people rely on harmful fuels for cooking detrimental to their health and the environment; whereas seven out of every ten buildings in the EU are energy inefficient while 11% of the EU population is affected by energy poverty, leading to possible delays in access to basic needs, care, education and healthcare, in particular for children and young people; whereas buildings represent approximately 40% of the EU's energy consumption and 36% of carbon emissions; A j. whereas 3.6 billion people worldwide live without safely managed sanitation and 2.3 billion lack basic handwashing facilities at home1c; whereas 2018-2028 has been declared the International Decade for Action “Water for Sustainable Development; whereas, in particular, Resolution 64/292 of the UN General Assembly explicitly recognised the human right to water and sanitation; whereas, in developing countries and emerging economies, demand for water is increasing from all sectors, in particular for energy and agriculture; whereas the developed world and China EU imports large quantities of virtual water, that is water used for the production of food and goods, including from countries suffering from water scarcity; whereas ‘Right2Water’ was the first successful European Citizens’ Initiative (ECI) with 1.9 million signatures; whereas, in its resolution on the Follow Up to the ECI, the Parliament considered it regrettable that the Commission's communication in response to the ECI lacked ambition; whereas, according to the NGO 'Global Witness', more than a third of the land and environmental defenders murdered worldwide between 2015 and 2019 belonged to indigenous communities, whose land and water management skills are crucial in combating the climate crisis and biodiversity loss;
2023/05/09
Committee: DEVEENVI
Amendment 13 #

2023/2010(INI)

Motion for a resolution
Paragraph 1
1. Stresses its commitment to the 2030 AgendaRecognises that SDGs are a common concern for humanity as a whole; Stresses its commitment to the 2030 Agenda and the 17 Sustainable Development Goals with their 169 accompanying measurable targets, especially in light of the new deteriorating geopolitical landscape and the ongoing climate, biodiversity and health crises; warns against further polarisation in the distribution of wealth and income, which would lead to increased inequality and poverty; highlights, against this backdrop, the importance of the SDGs, which provide a universal compass for people’s prosperity and to protect the planetsuch as, among others, the Russian war of aggression against Ukraine, and the ongoing climate, biodiversity, health, debt and food security crises as well as the growing backlash against women's rights and gender equality and the violent conflicts that continue to affect many parts of the world, especially the developing countries; recalls that it is crucial to take into account the strong interdependence between such crises;warns against further polarisation in the distribution of wealth and income, which would lead to increased inequality and poverty and has resulted in fragmented societies in many parts of the developed and developing world in recent years, and against any delay in tackling the environmental and climate challenges Europe and the global community are facing; highlights, against this backdrop, the importance of implementing an integrated approach of the SDGs, which provide the only evidence-based universal policy roadmap, for protecting the planet and averting the climate crisis and provide the tools to achieve prosperity for all; recalls that athe pledge to leave no one and no place behind lies at the heart of the 2030 Agenda and that the achievement of the SDGs shwould benefit all countries, regions, people and segments of society; by focusing on issues of equality and non- discrimination and addressing the root causes of these issues, with particular attention being paid to those who are most marginalised and vulnerable, and that it should enhance cultural sustainability and the rights of indigenous people; stresses that the SDGs should be achieved in a social and climate-just way while respecting a fair distribution of scarce resources within the planetary boundaries; reiterates that peace, diplomacy, and international cooperation are fundamental conditions for the world to progress on the SDGs towards 2030 and beyond;
2023/05/09
Committee: DEVEENVI
Amendment 14 #

2023/2010(INI)

Motion for a resolution
Paragraph 2
2. Highlights the fact that, at the halfway point in the 2030 Agenda timeline, EU leadership in the global implementation of the SDGs remains crucial and must be further credibly demonstrated; for instance in taking the lead to mobilize adequate financial resources to support SDG-relevant transformations; recalls that the 2020s have been declared to be the UN Decade of Action on Sustainable Development; emphasises the need for EU Members and the European Commission to promote policy coherence and inclusiveness at all levels of governance, prioritizing and including SDGs in all impact assessments; underlines that 2023 offers a unique opportunity to gather momentum and undertake the urgent transformative action required to place our societies firmly on course to achieve the SDGs; warns that the consequences of inaction in this crucialand losing another year would primarily be borne by the most vulnerable people; and communities; calls upon all EU leaders to do their utmost to advance progress on EU commitments, policies, and financing without delay;
2023/05/09
Committee: DEVEENVI
Amendment 15 #

2023/2010(INI)

Motion for a resolution
Paragraph 2
3. Notes that the implementation process for almost all the SDGs is lagging and that two consecutive years of regression have been recorded for many indicators178; reaffirms the importance of each SDG and highlights the key challenges that persist for sustainable development, particularly in relation to poverty (SDG 1), hunger (SDG 2), health (SDG 3), education (SDG 4), climate change (SDG 13),gender equality (SDG 5), safe water and adequate sanitation for all (SDG 6), clean and affordable energy (SDG 7), climate change (SDG 13), life below water including oceans (SDG 14) and biodiversity (SDG 15); underlines the strategic role that SDG 10, on reducing inequality, cand SDG 17 on global partnerships can play in the global implementation of the 2030 Agenda; 17 UN Sustainable Development Report 2022, ‘From Crisis to Sustainable Development: the SDGs as Roadmap to 2030 and Beyond’: https://resources.unsdsn.org/2022-sustainable-development-report. 18 UN Sustainable Development Report 2022, ‘From Crisis to Sustainable Development: the SDGs as Roadmap to 2030 and Beyond’: https://resources.unsdsn.org/2022-sustainable-development-report.
2023/05/09
Committee: DEVEENVI
Amendment 16 #

2023/2010(INI)

Motion for a resolution
Paragraph 4
4. Highlights the importance of the 2023 High-Level Political Forum on Sustainable Development and the SDG Summit, which are both due to take place in New York, as opportunities to review progress at the halfway point, which must be the starting pointof the 2030 Agenda for Sustainable Development and the 17 Sustainable Development Goals (SDGs) at the halfway point; believes these meetings must give high-level political guidance and new impetus for an intensified effort and accelerated action to achieve the goals by 2030; acknowledges, in this regard, the SDGs being focused on in 2023 (SDGs 6, 7, 9, 11 and 17)19;
2023/05/09
Committee: DEVEENVI
Amendment 17 #

2023/2010(INI)

Motion for a resolution
Paragraph 4 a (new)
19 SDG 6: Clean water and sanitation; SDG 7: Affordable and clean energy; SDG 9: Industry, Innovation and Infrastructure; SDG 11: Sustainable cities and communities; SDG 17: Partnerships for the goals. 4 a. Reaffirms that access to water and sanitation is a fundamental right and that improving access to them is crucial for pursuing poverty eradication, social equality, public health, food security, and sustainable development objectives; Recalls that, as the EU Water Framework Directive recognises, water is not a mere commodity but a public good that is vital to human life and dignity; stresses that water policies must prioritise the sustainable management of rivers, lakes, wetlands, springs, and aquifers, and support sustainable water management in the agricultural sector as key to confronting ongoing crises of pollution, deforestation, desertification, biodiversity loss, and climate change; highlights the potential risks of water grabbing and water pollution in large-scale land acquisitions for agriculture and extractive industries;
2023/05/09
Committee: DEVEENVI
Amendment 18 #

2023/2010(INI)

Motion for a resolution
Paragraph 5
5. Recognises the EU’s significant role in establishing the 2030 Agenda in 2015 and calls for it and its Member States to take bold action and provide global leadership by setting an example in the implementation of the SDGs and redoubling , redoubling its efforts to meet the deadline and by leading a political reset of the SDGs at the upcoming SDG summit, such as pushing for binding targets, mandatory review, and a more transformational approach towards achieving the SDGs as a whole; invites efforts ahead of the deadline; the Presidents of Parliament, the Commission and the Council to come forward with a joint declaration renewing the EU’s commitment to the 2030 Agenda; stresses that the EU needs to intensify cooperation and accelerate progress on SDG 17, partnerships for the goals; notes that the EU is uniquely placed to accelerate progress on partnerships, given its proven record as a champion of multilateralism; highlights the role and resources of local and regional authorities, and especially the key role of regions and cities, with the OECD estimating that 65% of the SDGs targets cannot be reached without their coordination or involvement; and stresses that multi-level governance is one of the SDGs' core values; calls on the EU to increase engagement with civil society and the private sector;
2023/05/09
Committee: DEVEENVI
Amendment 19 #

2023/2010(INI)

Motion for a resolution
Paragraph 6
6. Regrets the fact that the Commission has still not presented a comprehensive strategy for achieving the 2030 Agenda; , despite calls from the European Parliament, the Council of the EU 6a, the European Economic and Social Committee6band the Committee of the Regions,even though there are less than seven years left to achieve the SDGs and, hence, urgent implementation is required; insist that the Commission should proceed with adopting such strategy without further delay; believes that it should define, at a minimum: (a) a new governance framework, led by a single high-level Commissioner who is accountable for the implementation of the SDGs across all portfolios and who will systematically consult the new multi- stakeholder platform, for transforming collective knowledge into collective action, and which should include regional and local governments, all relevant civil society organizations and scientists; (b) a revised set of concrete, measurable, EU-wide, time-bound targets and indicators and concrete measures for achieving them; (c) an updated monitoring system and indicators , taking into account the EU’s internal and external impact on global SDG progress; (d) a single financial plan to achieve the EU’s SDG objectives, linked to the above targets; (e) a plan for the EU’s SDG diplomacy and international cooperation, led by a Special Envoy for the SDGs, answerable to the Commissioner responsible, to promote consistent action on the SDGs globally through the EU’s external actions and to ensure fair burden sharing and a level playing field;; stresses that the strategy should be regularly reviewed and accompanied by corrective measures in areas where progress is deemed to be stalled or insufficient; calls for the implementation of the SDGs to be an agenda item for the weekly College of Commissioners meeting not less than every three months; urges the future upcoming Council’s Presidency to organise a high-level debate on how to implement the SDGs on time, preferably in the General Affairs Council at ministerial level;
2023/05/09
Committee: DEVEENVI
Amendment 20 #

2023/2010(INI)

Motion for a resolution
Paragraph 7
7. Calls on the Commission to continue integrating the SDGs into the European SemesterStresses that the SDGs should form the backbone of European public policies and that all Member States should raise the level of ambition of their national responses on SDG implementation; calls on the Commission to continue the reform of the European Semester to balance economic, social and environmental priorities and to better link it to the monitoring of the Green Deal, the Paris Agreement, and National Recovery and Resilience Plans (NRRPs) under the Recovery and Resilience Facility (RRF), engaging local and regional authorities in the process - whilst noting, in particular, that very few Member States have explicitly linked National Recovery and Resilience Plans to the SDGs- and including comprehensive mapping of the corresponding financial envelopes and to use the country- specific recommendations to systematically measure Member States’ progress and set out concrete proposals for improvementnecessary changes and improvement, including recommendations for country- specific SDG targets; and to continue reforming it in order to balance economic, social and environmental priorities, so that it drives a long-term social, environmental and economic transformation and improves the integration of the 2030 Agenda, the European Pillar of Social Rights and the European Green Deal at all levels;
2023/05/09
Committee: DEVEENVI
Amendment 21 #

2023/2010(INI)

Motion for a resolution
Paragraph 8
8. Stresses Parliament’s important rolethe important role of the European Parliament as well those of national parliaments and regional and local authorities, in promoting the SDGs’ implementation through European policies and heightening the goals’ visibility in public discourse; underlines that coordination within and between the EU institutions is essential in order to ensure the EU’s leadership and increase the effectiveness of its efforts to implement the 2030 Agenda; its scrutiny, legislation and budgetary powers to foster the implementation of the Agenda 2030 calls, to this end, on its committees to further integrate SDG considerations in their legislative and non-legislative work; also calls for Parliament to appoint a standing rapporteur on the implementation of the SDGs to embed them in EU legislation across committees; welcomes in this regard the efforts made by the Parliament’s SDG Alliance; calls for the President of the European Parliament to appoint a Vice- President for the SDGs to promote the SDGs within the bureau and externally represent the European Parliament on the SDGs; encourages the Parliament’s general secretariat to produce a Parliament SDG review to fully assess its contribution to the achievement of the Goals, following similar commitments by other Union institutions; underlines that coordination and regular structured dialogue within and between the EU institutions is essential in order to ensure the EU’s leadership and increase the effectiveness of its efforts to implement the 2030 Agenda; therefore calls for the creation of an inter- institutional task force to assume the responsibility of coordinating the Union’s efforts to deliver the SDGs internally and globally;
2023/05/09
Committee: DEVEENVI
Amendment 22 #

2023/2010(INI)

Motion for a resolution
Paragraph 9
9. Recalls that voluntary national reviews are the cornerstone of the follow- up and review framework for the 2030 Agenda and a key accountability tool; welcomes the Ccommission’s initiative to draft and present the first EU voluntary rtment of nine EU Member States to present their national voluntary review at the 2023 HLPF and invites all Member States to engage in this process in the following years; and to give due consideration to and implement the recommendations that will be formulated on that occasion; emphasizes that voluntary national reviews can only serve the purpose of providing accountability if they are done in an objective manner that focuses on shortcomings as much as on achievements; calls on the Commission to encourage Member States as well as third countries to include the social economy in an horizontal and holistic manner in their Voluntary National Reviews, report in 2023cognizing its key role in achieving the SDGs; considers that 2023 is the moment for the global community to shift from voluntary reporting to mandatory reporting; calls on the EU to push for further standardisation of national and regional voluntary reviews;
2023/05/09
Committee: DEVEENVI
Amendment 23 #

2023/2010(INI)

Motion for a resolution
Paragraph 9 a (new)
9 a. welcomes the Commission’s initiative to draft and present the first EU voluntary review report in 2023; highlights the importance of the EU voluntary review containing: (a) a reaffirmation of the EU’s commitment to deliver the Agenda 2030 and the accompanying Goals; (b). a strategic overview of the EU commitments and targets to progress towards the SDGs, including, where applicable, quantified and time-bound targets for 2030; (c). a comprehensive summary of EU internal and external actions in support of the implementation of the SDGs, as well as policy coherence between action at both levels, including potential trade-offs, having regard to impacts on partner countries and positive and negative impacts on the global progress of the SDGs, as well as international partnerships and diplomacy for the SDGs; (d). orientations on actions to be undertaken to take the implementation of the 2030 Agenda further, in particular in anticipation of the 2024-2029 Commission political priorities; recalls the importance of taking into consideration the regional and local perspective and the contributions provided by civil society during the consultation process; calls on the Commission to include a social economy perspective in its European Voluntary Review;
2023/05/09
Committee: DEVEENVI
Amendment 24 #

2023/2010(INI)

Motion for a resolution
Citation 13 a (new)
— Having regard to the Commission Communication on decent work worldwide for a global just transition and sustainable recovery (COM(2022) 66 final, in particular its commitments included to achieve the SDGs,
2023/03/31
Committee: DEVEENVI
Amendment 24 #

2023/2010(INI)

Motion for a resolution
Paragraph 10
10. RHighlights that, to achieve the SDGs, the 2030 Agenda requires a strong level of societal legitimacy; reiterates the call on the Commission to establish a new permanent platform, for a “whole of society” approach as an important innovation, for regular and structured engagement with civil society organisations, community-based organisations, the private sector (including SMEs), trade unions, co- operatives, academia and research institutions, regional and local governments and marginalised groups in order to systematically involve them in a meaningful way in the SDG implementation process;
2023/05/09
Committee: DEVEENVI
Amendment 25 #

2023/2010(INI)

Motion for a resolution
Citation 13 b (new)
— having regard to the 2022 UN Transforming Education Summit on 16- 19 September in New York;
2023/03/31
Committee: DEVEENVI
Amendment 25 #

2023/2010(INI)

Motion for a resolution
Paragraph 11
11. Underlines the importance of enhanced cooperation with partners in the Global South, particularly the African Union and representatives of local and regional governments and civil society representatives, in order to implement the 2030 Agenda globally; notes that its implementation will enable partner countries to achieve their own development goals (e.g. the AU Agenda 2063) and their self-reliance on the path to a just and equal society; stresses in this context that the universality of the SDGs as a common agenda represents an opportunity to restore trust and position the EU as a bridge builder between the Global North and the Global South; stresses, in this regard, sufficient alignment with partner countries’ own efforts and local needs, when it comes to partnerships on development cooperation; highlights that it is imperative to improve the effectiveness and efficiency of European development policies in order to accelerate SDG implementation in developing countries; calls for a stronger EU engagement and coherence across all policies and financing instruments for fostering sustainable development; advocates for a regular review with partner countries and relevant stakeholders from the Global South on jointly agreed development objectives in order to address shortcomings; stresses the need to promote the social economy in the EU’s relations with third countries, including during trade negotiations; reiterates that trade policy can be an instrument for fostering regional integration and stability, economic development, migration, combating climate change as well as fostering peace and security; Recognises the important role of the ACP-EU partnership notably in fostering sustainable development in ACP countries and ensuring the existence of stronger alliances to tackle global challenges; strongly supports the signing of the new agreement (Post-Cotonou Agreement) as soon as possible;
2023/05/09
Committee: DEVEENVI
Amendment 26 #

2023/2010(INI)

Motion for a resolution
Paragraphs 12 and 12 a (new)
12. Stresses, in this regard, that the EU and its Member States must avoid negative spillover effects at the expense of the Global South, which undermine their efforts to achieve the SDGs and which occur as a result of their Member States’ past economic and technological model; advocates cooperation with global partners to turn any negative spillover effects into virtuous circles; calls for all EU policies to be subject to a mandatory SDG check to provide more insight on and address any negative effects and ensure that change in this area is measurable; check to assess all impacts and expenditure affecting the SDG implementation in the Global South and address any negative effects, including by taking mitigating action and revising legislative acts where necessary, and ensure that change in this area is measurable; welcomes the recent agreement reached between the co- legislators on the Deforestation Regulation; reiterates its calls on the Commission and on the Council to take the actions listed in its recent resolution on policy coherence for development so as to make the implementation of this principle and the “Do no harm” principle effective; with special attention paid to trade, finance, environment and climate change, food security, migration and security. 12 a notes that critical raw material sourcing necessary for the EU energy transition is often associated with potentially severe environmental impacts as well as potential conflicts with local communities and human rights violations against indigenous people in the Global South; Expresses particular concern about the significant impact of certain mega-projects in third countries, notably energy and extractive industries, on indigenous peoples and local communities and urges the EU and Member States to maintain high social and environmental standards in line with the UN Declaration on the Rights of Indigenous People and ILO Convention No 169., notably the recognition of the principle of free, prior and informed consent and customary ownership;
2023/05/09
Committee: DEVEENVI
Amendment 27 #

2023/2010(INI)

Motion for a resolution
Paragraph 13 and 13 a (new)
13. PReiterates its support for the work of Eurostat in relation to the annual SDGs monitoring in the EU; points out that, in order to assess the Member States’ progress on the SDGs, the Eurostat sustainable development indicators must be improved by filling theexisting gaps for some SDGs, and addressing weaknesses in information systems by strengthening the use of existing statistical data from a variety of sources and by better measuring EU policies’ impact on territories and specific vulnerable groups; cross-border and long-term distributional impact on territories and specific marginalized and vulnerable groups, in the EU and globally; believes it is crucial to monitor progress on all 169 sub-goal targets; Calls on Member States to enhance their data collection as well as to adopt SGD indicators and monitor their implementation in the NRRPs; 13 a. Points out that Eurostat sustainable development indicators do not reflect reality on the ground, since they are used to assess the SDGs at national level and are largely dependent on data made available by national institutes; believes, therefore, that local and regional NUTS-2-level data should also be used and be based on measurable, time-bound targets; stresses that a minimum level of data and statistical disaggregation should be ensured and closer aligned to the global SDG monitoring framework, covering, where appropriate, geographic location and demographic aspects, gender, income, education level, age, race, ethnicity, migratory status, impairment and other characteristics; calls on Member States to report more thoroughly to the OECD on their development cooperation, so as to fill the data gap regarding the EU's external impact on third countries' SDG progress and to develop more evidence-based indicators, in line with the consumption- based spill over indicator included in the Eurostat report;
2023/05/09
Committee: DEVEENVI
Amendment 28 #

2023/2010(INI)

Motion for a resolution
Paragraph 14
14. Notes, furthermore, that important evidence-based data remains unavailable on global, national and regional development policies in the Global South, particularly with regard to their impact on poorest and most marginalised peoplevulnerable and marginalised groups and territories; highlights the disruption of data production and data accuracy as a result of the global crises; highlights that accurate and reliable data is crucial to measure progress and identify bottlenecks; regrets the lack of comprehensive ODA reporting per SDG by the EU and all Member States; calls for strengthening and accelerating human, institutional and infrastructure data capacity building, especially in the developing countries and EU internal monitoring tools, such as the Gender Marker or the newly established Inequality Marker; calls for the EU to significantly step up technical cooperation with, and technical assistance to, developing countries to address the global data gap created by insufficient monitoring capacities and inconsistent methodologies;
2023/05/09
Committee: DEVEENVI
Amendment 29 #

2023/2010(INI)

Motion for a resolution
Paragraph 15 and 15 a (new)
15. HighlightsRecalls that SDG implementation represents a shared responsibility, requiring action at the national, regional and local levels; highlights, in that regard, the importance of voluntary local reviews and voluntary subnational reviews, as a means of further localising the SDGs and therefore advancing their implementation; calls for Member States to put in place comprehensive tools for the effective implementation of SDGs, such as mapping; stresses that regular comprehensive reviews of SDGs progress at sub-national and local level can reinforce vertical and horizontal coherence, stimulate local participation, facilitate peer-learning and sharing of best practices between regions and cities at global level and contribute to the overall SDG implementation and therefore recommends support for the implementation at all territorial levels; welcomes in this regard the work of the UN-HABITAT and strongly supports the work of the Joint Research Center on localising the SDGs inter alia through the “REGIONS2030: Monitoring the SDGs in the EU regions - Filling the data gaps” project and the European Handbook for SDGs Voluntary Local Reviews; calls for a European platform for VLRs to foster exchange and learning as well as twinning approaches across Europe for accelerated SDG implementation at local level; suggests that this data be integrated in the EU cohesion policies; 15a. highlights that corporate sustainability reporting and due diligence, when subject to relevant audits, can be an important framework to encourage greater accountability in the private sector regarding the social and environmental impact of companies and their contribution to the achievement of the SDGs; encourages all actors across society, including private entities, to engage in regular voluntary reporting on SDG implementation stresses the need to finance trainings for capacity building for SMEs in order to learn how to implement the SDGs in their daily activities;
2023/05/09
Committee: DEVEENVI
Amendment 30 #

2023/2010(INI)

Motion for a resolution
Paragraph 16
16. Calls on the Commission to present the ‘beyond GDP’ dashboard without delay, as set out in the 8th environment action programmePoints out that there is a growing awareness that economic growth, as measured primarily by GDP, has little to do with prosperity and well-being and that sustainability must be at the core of economic systems; demands crucial reforms also in the methodology of measuring economic performance, which have to properly indicate progress, based on the well-being of people and the planet; calls on the Commission to present the summary dashboard and indicator set measuring ‘beyond GDP’ without delay, as set out in the 8th environment action programme; urges the Commission to develop beyond GDP indicators that incorporate societal and environmental factors, and enhance cooperation with the international community;
2023/05/09
Committee: DEVEENVI
Amendment 31 #

2023/2010(INI)

Motion for a resolution
Paragraph 17
17. Recalls the broad recognition, when the SDGs were adopted, of the need to ‘go from billions to trillions’ in financing for development; is alarmed by the fact that the SDG financing gap has instead grown from USD 2.5 trillion to USD 4 trillion per year201; stresses, in this regard, the need for a reformed global plan to finance the SDGs; draws attention to the fact that, with global GDP now over USD 100 trillion and the capitalisation of global equity and fixed income markets being around USD 250 trillion, global financial resources are sufficient for a big push towards closure of the SDG financing gap and should be made available for this, including through fair effective taxation and effective international measures against tax competition, tax avoidance and evasion;
2023/05/09
Committee: DEVEENVI
Amendment 32 #

2023/2010(INI)

Motion for a resolution
Paragraph 17 a (new)
20 Organisation for Economic Co-operation and Development (OECD), Global Outlook on Financing for Sustainable Development 2023: No Sustainability Without Equity, OECD Publishing, Paris, 2022: https://doi.org/10.1787/fcbe6ce9-en. 21 Organisation for Economic Co-operation and Development (OECD), Global Outlook o17 a. Underlines the important role of the Official Development Assistance (ODA) as a catalyst for change and leverage for the mobilisation of other resources and recalls that it remains a major source of finance for the poorest countries, and continues to play a crucial role role in achieving the 2030 Agenda; notes with concern that, while being the biggest global ODA provider, the EU and its Member States failed to achieve their collective commitments to provide at least 0.7% of GNI as ODA and, in this context, urges them to honour their commitment; stresses the need for donors to prioritise grant-based financing, especially to LDCs, in view of their unsustainable debt burdens; insists that ODA, as defined in the OECD, should always have as its primary objective the promotion of the economic development and welfare of developing countries and therefore needs to play a key role in Ffinancing for Sustainable Development 2023: No Sustainability Without Equity, OECD Publishing, Paris, 2022: https://doi.org/10.1787/fcbe6ce9-en. the SDGs; stresses that the principles of development effectiveness should be followed, that human rights must be fully respected by all actors benefiting from blended finance and guarantees; calls on the Commission to ensure full transparency in private sector cooperation so that it is open to effective stakeholder, parliamentary and public scrutiny;
2023/05/09
Committee: DEVEENVI
Amendment 33 #

2023/2010(INI)

Motion for a resolution
Paragraph 18
18. Calls for the preparation of an EU financing plan for the SDGs; underlines that the 2030 Agenda should guide all EU financing tools and their programming; calls on the Commission to put forward a proposal for a social taxonomy to complement the green taxonomy and help implement the European Green Deal; Stresses that the absence of a financing plan for the SDGs prevents the overall monitoring of spending on their implementation within the EU budget; calls for the adoption of an EU financing plan for the SDGs under a revised Multiannual Financial Framework; underlines that the 2030 Agenda should guide all EU financing tools and their programming, especially the MFF, NDICI-Global Europe, EFSD+, the EU’s main development financing tools as well as explore synergies with Horizon Europe, LIFE+, InvestEU, Digital Europe Programme; underlines that the financing plan for the SDGs should address the lack of margin under Heading 6 of the Multiannual Financial Framework, which does not provide sufficient means for Union’s external action to help partner countries finance their SDGs strategies; stresses that important EU investment strategies like the Global Gateway must be clearly oriented towards and fully assessed against the need to implement the 2030 Agenda with its “leave no one and no place behind” principle and encompassing the whole social, economic and environmental dimension; is worried that the Global Gateway lacks a clear development mandate, and that its design and planning is surrounded by a lack of transparency and public scrutiny; criticises the absence of fresh funding and its reliance on private finance which is inherently risk averse, and thus, its inability to reach the furthest behind first; highlights that the NDICI-Global Europe mid-term review provides an opportunity to assess the EU’s contribution to achieve the SDGs worldwide and reaffirms its support towards the Agenda 2030 by setting out clear and measurable commitments for the coming years; recalls the obligation in the Taxonomy Regulation on the Commission to publish a report with a view to extend its scope beyond environmentally sustainable economic activities, including other sustainability objectives, such as social objectives; emphasizes that this would help implement the European Pillar of Social Rights and the European Green Deal while taking the situation of micro- enterprises and SMEs into account;
2023/05/09
Committee: DEVEENVI
Amendment 34 #

2023/2010(INI)

Motion for a resolution
Paragraph 19
19. Stresses that adequate financing for the attainment of the SDGs, especially in developing countries, requires a thorough overhaul of the global financial architecture to align all of its parts with the Agenda 2030 for global development, the Paris Agreement on climate action and the Global Biodiversity Framework; calls for the swift operationalisation of the Loss and Damage Fund agreed at COP27 and that new financing commitments are directed swiftly where they are needed most; urges the Commission and the Member States to step up their engagement and jointly work towards the necessary reforms of the International Monetary Fund, the World Bank Group and multilateral development banks in order to adjust these financial institutions’ visions and operating models with a focus on strengthening the fight against poverty and rising inequality and promoting a just and sustainable twin transition; regrets that, in a number of cases, the structural reforms promoted by the IMF and the World Bank have contributed to the weakening of the ability of developing countries to promote public policies to fight poverty and to strengthen education and health systems; urgently calls on the Commission to track inconsistencies among expenditures and identify and phase out all environmentally harmful subsidies without delay, as required by the General Union Environment Action Programme to 2030; points out the need to rechannel IMF Special Drawing Rights (SDRs) to developing countries and Multilateral Development Banks (MDBs) in view of increasing SDG investment capacity without creating additional debt; underlines the need to improve the lending terms of MDBs, including lower interest rates and longer-term loans;
2023/05/09
Committee: DEVEENVI
Amendment 35 #

2023/2010(INI)

Motion for a resolution
Paragraph 20
20. Strongly welcomes the Bridgetown Initiative in this regard and calls on the Commission and the Member States to constructively and proactively engage in the relevant discussions in international forums throughout 2023 so that ambitious reforms can be achieved swiftly; in this regard, welcomes the fact that a Summit for a New Global Financial Pact is to be held in Paris in June 2023, making it possible to promote an inclusive approach by bringing together all the relevant stakeholders; calls on the EU and international partners to fully engage in real commitments and action during this international summit to facilitate vulnerable countries' access to the financing they need to address the consequences of current and future crises and to implement Agenda 2030, and make it an opportunity to build a new contract between the North and the South;
2023/05/09
Committee: DEVEENVI
Amendment 36 #

2023/2010(INI)

Motion for a resolution
Paragraph 21 and 21 a (new)
21. SIs alarmed by the fact that LDCs were already unable to finance the implementation of the SDGs before the Covid-19 pandemic and the war in Ukraine and are now even more in need of financial support; stresses that more than half of the world’s poorest69 low and middle income countries face either a debt crisis or a high risk of one; welcomes the UN Secretary-General’s pusnotes with deep concern that according to the United Nations, 25 developing countries paid more than 20 per cent of total government revenue in external debt service in 2022, while sixteen of the most debt-troubled countries today owe more than 30 percent to private creditor; underlines that the high cost of borrowing for developing countries inhibits investment in the SDGs; emphasises the need both for arapid global SDG stimulus package and calls for effective debt relief measures that make use of the full toolset available and include both ‘new lenders’ and private creditors; debt relief efforts for developing countries, ending the “too little, too late” syndrome and unnecessary aggravation of debt situations, and for systemic changes towards a rules-based multilateral order capable of preventing new debt crises; Reiterates its call on the Commission, in consultation with all major international actors and the countries concerned, to draw up a genuine strategy to save developing countries from excessive indebtedness; in particular, calls for the creation of a multilateral debt workout mechanism, under UN auspices; notes that the Common Debt Framework still does not provide concrete debt relief and calls for an enhanced multilateral debt relief initiative with an effective mechanism to engage private creditors, debt relief in return for SDG achievement and climate action (debt swaps), measures to facilitate lender coordination on new loan contracts and the adoption of automatic debt suspension in the event of pre-defined shock; 21 b. Welcomes the UN Secretary- General’s push for a global SDG Stimulus to Deliver Agenda 2030 which calls for additional liquidity, effective debt restructuring and the expansion of development financing, with the view to free up significant fiscal space in developing economies and a reform of the global international financial architecture; calls for a collective response from the EU and its Member States to the SDG Stimulus initiative and to start without delay parallel preparation of proposals for such a plan ;
2023/05/09
Committee: DEVEENVI
Amendment 37 #

2023/2010(INI)

Motion for a resolution
Paragraph 22
22. Recognises the importance of domestic resources being mobilised in developing countries as well as the structural challenges of their mobilisation and draws attention to the fact that this is contingent on an enabling international environment; calls on the Commission and the Member Statesrecalls that illicit financial outflows and tax havens have a severe impact on the fiscal space of developing countries and seriously undermine the Rule of Law and institutional resilience in these countries, which is an essential precondition to achieve sustainable development; calls on the Commission and the Member States to take the lead to clamp down on tax evasion and tax avoidance practices, including listing of non-cooperative jurisdictions for tax purposes, to scale up its cooperation with developing countries on tax matters to enable them to enhance mobilisation of public resources, and to take the initiative and push for the establishment of a UN intergovernmental commission for international cooperation on tax matters, in order to fight illicit financial outflows and cross-border tax evasion, and to close tax havens;
2023/05/09
Committee: DEVEENVI
Amendment 38 #

2023/2010(INI)

Motion for a resolution
Paragraph 22 a (new)
22 a. Reiterates the critical role of public and private investments and public- private partnerships to increase developmental investments in developing countries and LDCs, where needs are the greatest, in closing the annual SDG funding gap of USD 4 trillion; therefore calls on the Commission to engage in in- depth discussions and engagement with the private sector to encourage private financing; at the same time, also warns of the risks involved, for example the erosion of universal access to quality public services that are critical (such as health, education and social protection, or local renewable energy production) or the overcompensation of private investors; Notes in that regard that the overall evidence of the development effectiveness of subsidising private investment remains weak and that there is currently a lack of evidence that blended finance has had a large impact in the attainment of the SDGs; therefore calls on the EU to push for a new approach in blended finance that is based on SDG-targeted impact, fair sharing of risks and rewards, clear accountability mechanisms, and coherent social and environmental standards, in line with the Addis Ababa Action Agenda; and to prioritise partnerships with LDC domestic enterprises that pursue sustainable and inclusive business models;
2023/05/09
Committee: DEVEENVI
Amendment 39 #

2023/2010(INI)

Motion for a resolution
Paragraph 23
23. Reiterates that the SDGs are the only globally agreed and comprehensive set of goals on the great challenges ahead for both developed and developing countries and the 2030 Agenda should therefore serve as a guiding light for navigating through the current uncertainties; strongly advocates for SDG 17 (Partnership for the goals) for the urgent revitalisation of global partnerships particularly between governments, the private sector, and civil society in the pursuit of realizing the Agenda 2030; highlights the opportunity that the SDGs provide to establish a true well-being economy centred on people and the planet and to work towards a sustainable world beyond 2030;
2023/05/09
Committee: DEVEENVI
Amendment 48 #

2023/2010(INI)

Motion for a resolution
Citation 24 a (new)
— having regard to the resolution on Policy Coherence for Development adopted by the European Parliament on 14 March 20231a _________________ 1a https://www.europarl.europa.eu/doceo/doc ument/TA-9-2023-0071_EN.pdf
2023/03/31
Committee: DEVEENVI
Amendment 54 #

2023/2010(INI)

Motion for a resolution
Recital A
A. whereas, with less than seven years to go until the deadline for the implementation of the 2030 Agenda, the new geopolitical landscape and the multiple crises in various areas have further hindered the achievement of the SDGs; whereas collective action on a new scale is urgently needed to respond to poverty that is ruining hundreds of millions of lives and to respond to the unprecedented threats to the habitability of our planet posed by the interlinked climate and biodiversity crises; whereas the 2030 Agenda and the 17 SDGs are key to addressing the current challenges and reorienting the global compass towards a socially and environmentally just transition that leaves no one behind;
2023/03/31
Committee: DEVEENVI
Amendment 65 #

2023/2010(INI)

Motion for a resolution
Recital A a (new)
A a. whereas, despite some progress on certain SDGs before the crises, some trends are now reversed; whereas, according to the SDNS Sustainable Development Report 2022, for the second year in a row, the world is no longer making progress on the SDGs and the average SDG Index score further declined in 2021;
2023/03/31
Committee: DEVEENVI
Amendment 73 #

2023/2010(INI)

Motion for a resolution
Recital A b (new)
A b. Whereas reducing inequalities (SDG 10) is inextricably linked to the overall implementation of the Agenda 2030 and to effective climate action; whereas sustainable resource mobilisation is essential for transformative public action; whereas tax justice, climate justice and intergenerational justice must be urgently pursued both within developed and developing countries;
2023/03/31
Committee: DEVEENVI
Amendment 81 #

2023/2010(INI)

Motion for a resolution
Recital A c (new)
A c. Whereas 760 million people currently live without electricity and 2.4 billion people rely on harmful fuels for cooking1a; whereas 3.6 billion people worldwide live without safely managed sanitation1band 2.3 billion lack basic handwashing facilities at home1c; whereas 2018-2028 has been declared the International Decade for Action “Water for Sustainable Development”; _________________ 1a https://www.who.int/news/item/20-01- 2022-who-publishes-new-global-data-on- the-use-of-clean-and-polluting-fuels-for- cooking-by-fuel-type 1b https://data.unicef.org/topic/water-and- sanitation/sanitation/ 1c https://www.unwater.org/water- facts/handwashing-and-hand-hygiene
2023/03/31
Committee: DEVEENVI
Amendment 88 #

2023/2010(INI)

Motion for a resolution
Recital A d (new)
A d. whereas the COVID crisis required forceful public policy responses, for which developed countries rapidly found resources, and a wide consensus emerged on the need for a transformative “build back better” approach responding also to the deepening climate crisis; whereas, at the same time, the very asymmetric impact of the COVID crisis rapidly exacerbated the inequality crisis plaguing the world;
2023/03/31
Committee: DEVEENVI
Amendment 95 #

2023/2010(INI)

Motion for a resolution
Recital A e (new)
A e. whereas education is a key resource for achieving the SDGs and a lifeline for people in crisis situations; whereas yet hundreds of millions of the most vulnerable children, youth and adults are still excluded from education today; whereas the education-related goals and targets of the 2030 Agenda have been severely derailed and risk leaving learners and societies ill-equipped to face an uncertain future;
2023/03/31
Committee: DEVEENVI
Amendment 102 #

2023/2010(INI)

Motion for a resolution
Recital A f (new)
A f. Whereas the Commission has not yet devised an integrated plan for the EU’s implementation of Agenda 2030 or a financing plan for the SDGs, as requested several times by the EP, notably the resolution of 23 June 2022; whereas the Commission has committed to taking a ‘whole-of-government’ approach to SDG implementation;
2023/03/31
Committee: DEVEENVI
Amendment 107 #

2023/2010(INI)

Motion for a resolution
Recital A g (new)
A g. Whereas there is a significant annual SDG investment gap of $USD 4 trillion and the fiscal space for relevant policies in developing countries’ is critically reduced by huge and further increasing debt burdens, external shocks related to the cumulating crises and the absence of a conducive international environment for domestic resource mobilisation;
2023/03/31
Committee: DEVEENVI
Amendment 113 #

2023/2010(INI)

Motion for a resolution
Recital A h (new)
A h. whereas France will host an international summit on 22 and 23 June 2023 on the theme of a "New Global Financial Pact" in order to take stock of all the ways and means to strengthen financial solidarity with the countries of the Global South, especially in the context of the current and future crises they are facing;
2023/03/31
Committee: DEVEENVI
Amendment 117 #

2023/2010(INI)

Motion for a resolution
Recital A i (new)
A i. whereas the 8th Union Environment Action Programme forms the basis for achieving the environmental and climate objectives defined under the UN 2030 Agenda and its SDGs; whereas the achievement of the environmental- and climate-related SDGs underpins the social and economic SDGs;
2023/03/31
Committee: DEVEENVI
Amendment 124 #

2023/2010(INI)

Motion for a resolution
Recital A j (new)
A j. whereas the Joint Statement on legislative priorities for 2023 and 2024 sets the overarching objective to accelerate the implementation of the United Nations 2030 Agenda for sustainable development through the legislative proposals put forward;
2023/03/31
Committee: DEVEENVI
Amendment 128 #

2023/2010(INI)

Motion for a resolution
Recital A k (new)
A k. whereas the success of the European Green Deal and the pledge of a just green transition is inextricably linked to the achievement of the SDGs;
2023/03/31
Committee: DEVEENVI
Amendment 130 #

2023/2010(INI)

Motion for a resolution
Recital A l (new)
A l. whereas 2023 is a pivotal year for the review of the SDGs and a push for their realisation by 2023, especially with the EU presenting its first Voluntary Review report at the HLPF in July 2023 and the global SDGs Summit on 19-20 September 2023 marking the mid-term of the 2030 Agenda and the SDGs;
2023/03/31
Committee: DEVEENVI
Amendment 140 #

2023/2010(INI)

Motion for a resolution
Paragraph 1
1. Stresses its commitment to the 2030 Agenda and the 17 Sustainable Development Goals with their 169 accompanying measurable targets, especially in light of the new deteriorating geopolitical landscape and the ongoing climate, biodiversity and health crises; warns against further polarisation in the distribution of wealth and income, which would lead to increaseding levels of inequality and poverty ; highlights, against this backdrop, the importance of the SDGs, which provide a universal compassthe only evidence-based universal policy roadmap for people’s prosperity and to, protecting the planet and averting the climate crisis; recalls that athe pledge to leave no one behind lies at the heart of the 2030 Agenda and that the achievement of the SDGs should benefit all countries, people and segments of society;
2023/03/31
Committee: DEVEENVI
Amendment 161 #

2023/2010(INI)

Motion for a resolution
Paragraph 2
2. Highlights the fact that, at the halfway point in the 2030 Agenda timeline, EU leadership in the global implementation of the SDGs remains crucial and must be further credibly demonstrated; underlines that 2023 offers a unique opportunity to gather momentum and undertake the urgent transformative action required to place our societies firmly on course to achieve the SDGs; warns that the consequences of inaction in this crucial year would primarily be borne by the most vulnerable people;
2023/03/31
Committee: DEVEENVI
Amendment 180 #

2023/2010(INI)

Motion for a resolution
Paragraph 3 a (new)
3 a. Recognises the key role of the social economy and social economy entities in the achievement of the SDGs within Europe and beyond; recognises the need to support the promotion of new sustainable and inclusive business models, mindful of social and environmental values, which put people’s needs at the core of their work and are guided by participatory decision-making and inclusive governance;
2023/03/31
Committee: DEVEENVI
Amendment 183 #

2023/2010(INI)

Motion for a resolution
Paragraph 3 b (new)
3 b. Highlights how the diverse social economy entities have already contributed to reducing inequalities and poverty, respecting the environment, empowering marginalised groups and boosting local economies, which are all objectives aligned with relevant SDG; stresses the importance of a strong social economy and the relative social ties in avoiding violent conflict and fostering active citizenship, boosting the achievement of SDG 16 on promoting peaceful and open societies and building effective, accountable and inclusive institutions at all levels;
2023/03/31
Committee: DEVEENVI
Amendment 190 #

2023/2010(INI)

Motion for a resolution
Paragraph 4 a (new)
4 a. Notes that the Russian war of aggression against Ukraine has disrupted the global energy supply systems, and has underscored the need to rapidly end dependence on fossil fuels and phase out all relevant subsidies and shift to renewable energy sources; stresses, in this regard, the urgency for the EU and Member States to make concerted efforts to progress towards SDG 7 to ensure access to affordable, reliable, sustainable and modern energy for all; underlines that security of energy supply, universal access and affordability in the long term can only be attained through renewable energy deployment; stresses that achieving SDG 7 will contribute to the attainment of several other SDGs, including in relation to poverty eradication, gender equality, climate change, food security, health, education, sustainable cities and communities, clean water and sanitation, decent jobs, innovation, transport, and refugees; highlights that the implementation of SDG 7 should be aligned with a just, inclusive and equitable energy transition with universal energy access, green jobs, diversified economies, people’s well-being and the empowerment of women, local communities and vulnerable groups to leave no one behind;
2023/03/31
Committee: DEVEENVI
Amendment 193 #

2023/2010(INI)

Motion for a resolution
Paragraph 4 b (new)
4 b. Welcomes the outcome of the UN 2023 Water Conference; calls on the EU and Member States to put forward ambitious commitments to advance on SDG 7; stresses that water policies must prioritise the sustainable management of rivers, lakes, wetlands, springs, and aquifers, guaranteeing their good ecological status, within the framework of the human right to a healthy environment and as key to confronting ongoing crises of pollution, deforestation, desertification, biodiversity loss, and climate change; highlights that water and sanitation services should be guided by the respect for human rights, leaving no one behind, including those who live in situations of vulnerability, marginalization or poverty; stresses that privatisation or commodification of water and sanitation services are detrimental to the complete fulfilment of human rights, and should therefore not be considered as policies at the global, national or local level, or in international cooperation, but that, instead, public ownership and management, strengthened through public-public and public-community partnerships, should be promoted;
2023/03/31
Committee: DEVEENVI
Amendment 195 #

2023/2010(INI)

Motion for a resolution
Paragraph 4 c (new)
4 c. welcomes the landmark agreement for a Treaty of the High Seas to protect the ocean, tackle environmental degradation, fight climate change, and prevent biodiversity loss;
2023/03/31
Committee: DEVEENVI
Amendment 224 #

2023/2010(INI)

Motion for a resolution
Paragraph 7
7. Calls on the Commission to continue integrating the SDGs into the European Semester as its compass and to use the country- specific recommendations to systematically measure Member States’ progress and set out concrete proposals for improvement, including recommendations for country-specific SDG targets ; suggests that reporting on the implementation of the SDGs should be an opportunity to streamline the European Semester, notably in country reports and national reform programmes;
2023/03/31
Committee: DEVEENVI
Amendment 237 #

2023/2010(INI)

Motion for a resolution
Paragraph 8
8. Stresses Parliament’s important role in promoting the SDGs’ implementation through European policies and heightening the goals’ visibility in public discourse; calls, to this end, on its committees to further integrate SDG considerations in their legislative and non-legislative work; welcomes the efforts made by the Parliament’s SDG Alliance; encourages the Parliament’s general secretariat to produce a Parliament SDG review to fully assess its contribution to the achievement of the Goals, following similar commitments by other Union institutions; underlines that coordination within and between the EU institutions is essential in order to ensure the EU’s leadership and increase the effectiveness of its efforts to implement the 2030 Agenda;
2023/03/31
Committee: DEVEENVI
Amendment 242 #

2023/2010(INI)

Motion for a resolution
Paragraph 8 a (new)
8 a. Recalls that the European Parliament has asked to promote the social economy internationally and to increase the visibility of the sector in the external dimension of Union policies1a; stresses, therefore, the need to promote the social economy in the EU’s relations with third countries, including during trade negotiations, and in international fora like the HLPF; urges the Commission to mainstream social economy considerations in all its external policies in view of promoting the SDGs; calls on the Commission to continue with an ambitious implementation of the Social Economy Action Plan and to strengthen its external dimension; _________________ 1a European Parliament resolution of 6 July 2022 on the EU action plan for the social economy (2021/2179(INI))
2023/03/31
Committee: DEVEENVI
Amendment 246 #

2023/2010(INI)

Motion for a resolution
Paragraph 8 a (new)
8 a. Recognises that the SDGs have to be strengthened through the creation of effective legal and regulatory frameworks, policies and practices at EU and Member States’ level to promote their implementation;
2023/03/31
Committee: DEVEENVI
Amendment 250 #

2023/2010(INI)

Motion for a resolution
Paragraph 9
9. Recalls that voluntary national reviews are the cornerstone of the follow- up and review framework for the 2030 Agenda and a key accountability tool; welcomes the Ccommission’s initiative to draft and present the first EU voluntary review report in 2023tment of nine EU Member States to present their national voluntary review at the 2023 HLPF and invites all Member States to engage in this process in the following years; emphasizes that voluntary national reviews can only serve the purpose of providing accountability if they are done in an objective manner that focuses on shortcomings as much as on achievements;
2023/03/31
Committee: DEVEENVI
Amendment 254 #

2023/2010(INI)

Motion for a resolution
Paragraph 9 a (new)
9 a. welcomes the Commission’s initiative to draft and present the first EU voluntary review report in 2023;highlights the importance of the EU voluntary review containing: a. a reaffirmation of the EU’s commitment to deliver the Agenda 2030 and the accompanying Goals; b. a strategic overview of the EU commitments and targets to progress towards the SDGs, including, where applicable, quantified and time-bound targets for 2030; c. a comprehensive summary of EU internal and external actions in support of the implementation of the SDGs, as well as policy coherence between action at both levels, including potential trade-offs, having regard to impacts on partner countries; d. orientations on actions to be undertaken to take the implementation of the 2030 Agenda further, in particular in anticipation of the 2024-2029 Commission political priorities .
2023/03/31
Committee: DEVEENVI
Amendment 272 #

2023/2010(INI)

Motion for a resolution
Paragraph 11
11. Underlines the importance of enhanced cooperation with partners in the Global South, particularly the African Union and civil society representatives, in order to implement the 2030 Agenda globally; notes that its implementation will enable partner countries to achieve their own development goals (e.g. the AU Agenda 2063) and their self-reliance on the path to a just and equal society; stresses in this context that the universality of the SDGs as a common agenda represents an opportunity to restore trust and position the EU as a bridge builder between the Global North and the Global South;
2023/03/31
Committee: DEVEENVI
Amendment 281 #

2023/2010(INI)

Motion for a resolution
Paragraph 12
12. Stresses, in this regard, that the EU and its Member States must avoid negative spillover effects at the expense of the Global South, which undermine their efforts to achieve the SDGs and which occur as a result of their Member States’ past economic and technological model; advocates cooperation with global partners to turn any negative spillover effects into virtuous circles; calls for all EU policies to be subject to a mandatory SDG check to provide more insight on and address any negative effects and ensure that change in this area is measurable; welcomes the recent agreement reached between the co- legislators on the Deforestation Regulation, which will ensure that products circulated in the EU market will no longer contribute to deforestation and forest degradation in other parts of the world; reiterates its calls on the Commission and on the Council to take the actions listed in its recent resolution on policy coherence for development so as to make the implementation of this principle effective;
2023/03/31
Committee: DEVEENVI
Amendment 314 #

2023/2010(INI)

Motion for a resolution
Paragraph 13
13. Reiterates its support for the work of Eurostat in relation to the SDGs monitoring in the EU; Points out that, in order to assess the Member States’ progress on the SDGs, the Eurostat sustainable development indicators must be improved by filling the gaps for some SDGs and better measuring policies’ impact on territories and specific vulnerable groupscross- border and long-term distributional impact on territories and specific marginalized and vulnerable groups, in the EU and globally;
2023/03/31
Committee: DEVEENVI
Amendment 322 #

2023/2010(INI)

Motion for a resolution
Paragraph 13 a (new)
13 a. Stresses that a minimum level of data and statistical disaggregation should be ensured in the Eurostat SDG monitoring, closer aligned to the global SDG monitoring framework, covering, where appropriate, geographic location, gender, income, education level, age, race, ethnicity, migratory status, impairment and other characteristics;
2023/03/31
Committee: DEVEENVI
Amendment 328 #

2023/2010(INI)

Motion for a resolution
Paragraph 14
14. Notes, furthermore, that important evidence-based data remains unavailable on global, national and regional development policies in the Global South, particularly with regard to the their impact on poorest and most marginalised peoplevulnerable and marginalised groups and territories people; highlights that accurate and reliable data is crucial to measure progress and identify bottlenecks; regrets the lack of comprehensive ODA reporting per SDG by the EU and all Member States; calls for strengthening and accelerating human, institutional and infrastructure data capacity building, especially in the developing countries and EU internal monitoring tools, such as the Gender Marker or the newly established Inequality Marker;
2023/03/31
Committee: DEVEENVI
Amendment 335 #

2023/2010(INI)

Motion for a resolution
Paragraph 15
15. Highlights the importance of voluntary local reviews and voluntary subnational reviews as a means of further localising the SDGs and therefore advancing their implementation; stresses that regular comprehensive reviews of SDGs progress at sub-national and local level can reinforce vertical and horizontal coherence, stimulate local participation, facilitate peer-learning between regions and cities at global level and contribute to the overall SDG implementation; strongly supports, in this regard, the work of the Joint Research Center on localising the SDGs inter alia through the “REGIONS2030: Monitoring the SDGs in the EU regions - Filling the data gaps” project and the European Handbook for SDGs Voluntary Local Reviews; calls for a European platform for VLRs to foster exchange and learning as well as twinning approaches across Europe for accelerated SDG implementation at local level; suggests that this data be integrated in the EU cohesion policies;
2023/03/31
Committee: DEVEENVI
Amendment 343 #

2023/2010(INI)

Motion for a resolution
Paragraph 16
16. Points out that there is a growing awareness that economic growth, as measured primarily by GDP, has little to do with prosperity and well-being and that sustainability must be at the core of economic systems; regrets that no policy at EU level aims at a paradigm shift or reform of our economic systems, including the replacement of GDP growth with a measure of progress based on the well-being of people and planet as the key measure of economic performance; Calls on the Commission to present the ‘beyond GDP’ dashboard without delay, as set out in the 8th environment action programme;
2023/03/31
Committee: DEVEENVI
Amendment 362 #

2023/2010(INI)

Motion for a resolution
Paragraph 17 a (new)
17 a. Draws attention to the fact that, with global GDP now over USD 100 trillion and the capitalisation of global equity and fixed income markets being around USD 250 trillion, global financial resources are sufficient for a big push towards closure of the SDG financing gap and should be made available for this, including through wealth and profit taxes and effective international measures against tax competition, tax avoidance and evasion;
2023/03/31
Committee: DEVEENVI
Amendment 376 #

2023/2010(INI)

Motion for a resolution
Paragraph 18
18. Calls for the preparaadoption of an EU financing plan for the SDGs; underlines that the 2030 Agenda should guide all EU financing tools and their programming, especially the MFF, NDICI-Global Europe, EFSD+, the EU’s main development financing tools; calls on the Commission to put forward a proposal for a social taxonomy to complement the green taxonomy and help implement the European Green Deal;
2023/03/31
Committee: DEVEENVI
Amendment 382 #

2023/2010(INI)

Motion for a resolution
Paragraph 18 a (new)
18 a. Stresses that important EU investment strategies like the Global Gateway must be clearly oriented towards and fully assessed against the need to implement the 2030 Agenda with its “leave no one behind” principle and encompassing the whole social, economic and environmental dimension;
2023/03/31
Committee: DEVEENVI
Amendment 385 #

2023/2010(INI)

Motion for a resolution
Paragraph 18 b (new)
18 b. Highlights the urgency to require financial institutions to define and adopt strategies and targets to align financial portfolios and other assets with the SDGs and regularly report on progress inter alia in the context of their ESG reporting;
2023/03/31
Committee: DEVEENVI
Amendment 388 #

2023/2010(INI)

Motion for a resolution
Paragraph 18 c (new)
18 c. Encourages all actors across society, including public and private profit and non-profit entities, to engage in regular voluntary reporting on SDG implementation;
2023/03/31
Committee: DEVEENVI
Amendment 389 #

2023/2010(INI)

Motion for a resolution
Paragraph 18 d (new)
18 d. Underlines the importance of making the Union budget consistent with the 17 SDGs and their respective sub- targets; invites the Commission to examine the modalities of a dedicated methodology for tracking SDGs expenditure in the Union budget, complementary to the climate and biodiversity tracking methodologies already in place; requests that a comprehensive mapping of the financial envelopes of existing and future Union policies, programmes and funds, including of the investments and structural reforms pursued under the Recovery and Resilience Facility, be made to ensure coherence with the objectives of the 2030 Agenda;
2023/03/31
Committee: DEVEENVI
Amendment 390 #

2023/2010(INI)

Motion for a resolution
Paragraph 18 e (new)
18 e. Adds its voice to the multiplying calls for deep reform of the global development finance architecture to align all of its parts with the Agenda 2030 for global development, the Paris Agreement on climate action and the Global Biodiversity Framework; calls for the shift operationalisation of the Loss and Damage Fund agreed at COP27;
2023/03/31
Committee: DEVEENVI
Amendment 391 #

2023/2010(INI)

Motion for a resolution
Paragraph 18 f (new)
18 f. Calls on the EU and international partners to fully engage in real commitments and action during the international summit on the "New Global Financial Pact" in Paris in June to facilitate vulnerable countries' access to the financing they need to address the consequences of current and future crises and to implement Agenda 2030;
2023/03/31
Committee: DEVEENVI
Amendment 417 #

2023/2010(INI)

Motion for a resolution
Paragraph 21
21. Stresses that more than half of the world’s 69 poorest countries face either a debt crisis or a high risk of one; welcomes the UN Secretary-General’s push for a global SDG stimulus package and calls for effective debt relief measures that make use of the full toolset available and include both ‘new lenders’ and private creditors; emphasises the need both for rapid debt relief, ending the “too little, too late”1asyndrome and unnecessary aggravation of debt situations, and for systemic changes towards a rules-based multilateral order capable of preventing new debt crises;Reiterates its call on the Commission, in consultation with all major international actors and the countries concerned, to draw up a genuine strategy to save developing countries from excessive indebtedness;Notes that the Common Debt Framework still does not provide concrete debt reliefand calls for an enhanced multilateraldebt relief initiative with an effective mechanism to engageprivate creditors, debt relief in return for SDG achievement and climate action (debt swaps) and measures to facilitate lender coordination on new loan contracts; _________________ 1a https://www.undp.org/publications/dfs- avoiding-too-little-too-late-international- debt-relief
2023/03/31
Committee: DEVEENVI
Amendment 421 #

2023/2010(INI)

Motion for a resolution
Paragraph 21 a (new)
21 a. Points to the pertinence of its 2018 resolution “Enhancing developing countries’ debt sustainability”1a, which has only increased since new pressures and the lack of adequate action are now resulting in a new big debt crisis; Reaffirms the calls made in this resolution for the systematic consideration of resource needs in the context of human rights, including the right to development, and the prioritisation of these needs, for the establishment of an international debt repayment mechanism, for the transformation of the UNCTAD Principles to Promote Responsible Lending and Borrowing into legally binding and enforceable instruments, for the sanctioning of lenders who lend to manifestly corrupt governments or in violation of the law established by the national parliament of the borrowing state; _________________ 1a https://www.europarl.europa.eu/doceo/doc ument/TA-8-2018-0104_EN.html
2023/03/31
Committee: DEVEENVI
Amendment 426 #

2023/2010(INI)

Motion for a resolution
Paragraph 21 b (new)
21 b. Welcomes the UN Secretary- General’s push for a global SDG Stimulus to Deliver Agenda 2030 and calls for effective debt relief measures that make use of the full toolset available and include both ‘new lenders’ and private creditors; calls for a collective response from the EU and its Member States to the SDG Stimulus initiative; calls also on the Commission to start without delay parallel preparation of proposals for such a plan;
2023/03/31
Committee: DEVEENVI
Amendment 435 #

2023/2010(INI)

Motion for a resolution
Paragraph 22 a (new)
22 a. Reiterates its support for private sector engagement to increase developmental investments in developing countries, but also warns of the risks involved, for example the erosion of universal access to quality public services or the overcompensation of private investors; Notes with great concern that the overall evidence of the development effectiveness of subsidising private investment remains weak;
2023/03/31
Committee: DEVEENVI
Amendment 443 #

2023/2010(INI)

Motion for a resolution
Paragraph 22 b (new)
22 b. Insists that Official Development Assistance (ODA), as defined in the OECD, should always have as its primary objective the promotion of the economic development and welfare of developing countries; Stresses that the principles of development effectiveness should be followed, that human rights must be fully respected by all actors benefiting from blended finance and guarantees, and that the private sector entities involved must have a transparent ownership structure, practice country-specific reporting and refrain from tax avoidance; Calls on the Commission to ensure full transparency in private sector cooperation so that it is open to effective stakeholder, parliamentary and public scrutiny;
2023/03/31
Committee: DEVEENVI
Amendment 446 #

2023/2010(INI)

22 c. Highlights that the NDICI-Global Europe mid-term review provides an opportunity to assess the EU’s contribution to achieve the SDGs worldwide and reaffirms its support towards the Agenda 2030 by setting out clear and measurable commitments for the coming years;
2023/03/31
Committee: DEVEENVI
Amendment 468 #

2023/2010(INI)

Motion for a resolution
Paragraph 23 a (new)
23 a. Suggests that the UN should push all Member States to support the introduction of concrete timelines and implementation plans that are binding for the signatory states towards 2030 and beyond; Furthermore calls on the UN to prepare a post-Agenda 2030 strategy well ahead of time;
2023/03/31
Committee: DEVEENVI
Amendment 469 #

2023/2010(INI)

Motion for a resolution
Paragraph 24
24. Instructs its President to forward this resolution to the Council and the Commission as well as to the Secretary General of the United Nations and the President of the United Nations General Assembly .
2023/03/31
Committee: DEVEENVI
Amendment 2 #

2023/2000(INI)

Motion for a resolution
Citation 9 a (new)
– having regard the Humanitarian Partnership 2021-2027 and its goal to improving the effectiveness and efficiency of humanitarian aid;
2023/07/19
Committee: DEVE
Amendment 10 #

2023/2000(INI)

Motion for a resolution
Citation 15
– having regard to the Grand Bargain agreement signed on 23 May 2016, to the annual independent reports thereon, in particular the 2021 report, and to the Grand Bargain 2.0 framework and the annexes thereto presented at the Grand Bargain annual meeting of 15-17 June 2021, as well as the renewed commitments at the Grand Bargain annual meeting of 19-20 June 2023;
2023/07/19
Committee: DEVE
Amendment 12 #

2023/2000(INI)

Motion for a resolution
Citation 17 a (new)
– having regard to the Climate and Environment Charter for humanitarian organizations and the Donors’ Declaration on climate and the environment of March 2022;
2023/07/19
Committee: DEVE
Amendment 18 #

2023/2000(INI)

Motion for a resolution
Recital B
B. whereas humanitarian crises are becoming more protracted and complex, and are causing global spillover effects; whereas increasing numbers of conflicts, climate change hazards and their impacts and the COVID-19 pandemic have created more economic vulnerability and displacement, resulting in even greater needs; whereas these crises have significantly risen inequalities;
2023/07/19
Committee: DEVE
Amendment 26 #

2023/2000(INI)

Motion for a resolution
Recital D
D. whereas innovative structural solutions are needed to address global humanitarian challenges and ensuring the humanitarian system is more agile, prepared for and responsive to humanitarian crisis, more gender- inclusive, locally-led and accountable; whereas these solutions should focus on ensuring sufficient and quality funding, implementing effectively the humanitarian- development-peace nexus (triple nexus) approach and creating an enabling humanitarian environment for humanitarian workers and organisations; whereas efforts to address current and future humanitarian challenges must be guided by a people-centred approach, especially with regard to women, children and persons with disabilities; whereas the role and participation of local actors and first responders in humanitarian responses must be recognised and supported; whereas it is estimated that over 40% of the half a million humanitarian workers who provide frontline care during emergencies, wars and disasters, are women;
2023/07/19
Committee: DEVE
Amendment 40 #

2023/2000(INI)

Motion for a resolution
Paragraph 1
1. Calls urgently on the Commission and the Member States to substantially increase their humanitarian aid budgets to respond to humanitarian needs, which are at a record high, without compromising on the development budget; reiterates its call on the Member States to allocate a fixed share of their gross national incomes to humanitarian aid; supports, in this regard, the Council conclusions of 22 May 2023 encouraging the Member States to devote 10 % of their official development assistance to humanitarian action and calls for their swift implementation; calls on the Commission and Member States to set ambitious targets and to create roadmaps for gradually increasing official development assistance to meet the final target;
2023/07/19
Committee: DEVE
Amendment 44 #

2023/2000(INI)

Motion for a resolution
Paragraph 2
2. Notes that closing the funding gap is a global responsibility; reiterates, therefore, the need to expand the humanitarian resource base by promoting the greater involvement of non-traditional donor countries with major economic potential and by mobilising private funding, accompanied by follow-up mechanisms, in full respect of humanitarian principles; of humanity, neutrality, impartiality and independence;
2023/07/19
Committee: DEVE
Amendment 56 #

2023/2000(INI)

Motion for a resolution
Paragraph 4
4. Is concerned about the imbalances in funding between crises and within sectors and warns of the consequences of chronic underfunding on the most vulnerable; notes that in 2022, only 27.7 % of the humanitarian appeal for El Salvador was funded compared to 94.5 % of the humanitarian appeal for the Central African Republic, reflecting that funding imbalances can result in some appeals receiving as much as three times more funding than others; notes the critical and continuous underfunding of the protection and gender based violence sectors, which highly impacts on access to services of people in need; calls for more equitable, needs-based distribution of funding to ensure that no one is left behind; calls on the Commission to develop a more harmonised approach to forgotten crises and to report on its commitment to allocate 15 % of its initial annual humanitarian budget to forgotten crises and prevent the transfer of resources from already underfunded crises; calls on the Council to better coordinate the Member States’ attention and support for these crises;
2023/07/19
Committee: DEVE
Amendment 60 #

2023/2000(INI)

Motion for a resolution
Paragraph 4 a (new)
4a. Calls on the Commission and the Member States to support and implement the G7 foreign ministers statement on anticipatory action and invest an increased part of the humanitarian funding for early warning and anticipatory action ; invites the Commission and the Member States to strengthen existing and currently developed early warning systems (IPC, FEWSNET and local ones) to enhance and disseminate the evidence base for a political warning and triggering of an adequate government, donor and partner response to prevent IPC 2 levels deteriorating into IPC 3, 4 or 5;
2023/07/19
Committee: DEVE
Amendment 64 #

2023/2000(INI)

Motion for a resolution
Paragraph 5
5. Calls on the Commission and the Member States to provide more quality funding through flexible, unearmarked, softly earmarked and multiannual funding that is tailored to local contexts, prioritising protracted crises where predictability is critical, needs-based and people-centred; highlights the need to harmonise and simplify donors’ contracting procedures; applications, contracting, grants management and reporting procedures; calls on the Commission and Member States to allocate increased direct funding to NGOs who are able to more efficiently and cost-effectively utilise funding; calls for greater transparency regarding the recipients and amounts of funding on the ECHO website;
2023/07/19
Committee: DEVE
Amendment 73 #

2023/2000(INI)

Motion for a resolution
Paragraph 5 a (new)
5a. Welcomes the Commission commitment to allocate 25% of humanitarian funding to local and national actors and responders; calls on the EC and Member States to monitor and report on the implementation of this commitment;
2023/07/19
Committee: DEVE
Amendment 80 #

2023/2000(INI)

Motion for a resolution
Paragraph 6
6. Notes that the triple nexus is key to addressing context-specific needs in complex and protracted crises, and in building resilience to future crises, in order to improve coherence and complementary of responses in line with humanitarian principles; insists on more visibilitynexus-specific funding, visibility, coordination, and knowledge-sharing among stakeholders when applying the triple nexus approach, including through better involvement of local actors;
2023/07/19
Committee: DEVE
Amendment 85 #

2023/2000(INI)

Motion for a resolution
Paragraph 7
7. Calls on the Commission to ensure the effective implementation of the triple nexus across its policies and structures and to regularly report on its implementation; calls for the promotion of more joint assessments, analysis and planning across different funding instruments, especially at country level; notes the potential of the Neighbourhood, Development and International Cooperation – Global Europe instrument (NDICI-GE) to put the triple nexus approach into practice; calls for better coordination between the Commission’s Directorate-General for International Partnerships and, the Directorate- General for European Civil Protection and Humanitarian Aid Operations and the European External Action Service in implementing the rapid response pillar of NDICI-GE, in order to ensure that their responses complement one another;
2023/07/19
Committee: DEVE
Amendment 88 #

2023/2000(INI)

Motion for a resolution
Paragraph 7 a (new)
7a. Calls on the Commission to respond to and implement the recommendations from the INTPA- commissioned study on the nexus entitled “HDP nexus: challenges and opportunities for its implementation,” particularly on the recommendation to monitor the implementation of the nexus across the relevant services;
2023/07/19
Committee: DEVE
Amendment 101 #

2023/2000(INI)

Motion for a resolution
Paragraph 9
9. Calls for climate funding to be scaled up in order to prevent, mitigate and respond to the alarming impact of climate change on humanitarian crises; is concerned that NDICI-GE expenditure with a climate objective falls far short of the commitment that such expenditure should represent 30 % of NDICI-GE’s overall financial envelope; calls on the Commission to scale this up without delay, focusing in particular on locally-led adaptation in least developed countries;
2023/07/19
Committee: DEVE
Amendment 107 #

2023/2000(INI)

Motion for a resolution
Paragraph 10
10. Stresses the need to localise disaster risk reduction, climate preparedness, adaptation and response, build, recognise and utilise the capacities of local actors and communities and ensure the climate resilience of the most vulnerable groups;
2023/07/19
Committee: DEVE
Amendment 109 #

2023/2000(INI)

Motion for a resolution
Paragraph 10 a (new)
10a. Calls for donors and Member States to adopt and implement the Humanitarian Aid Donors’ Declaration on Climate and the Environment by increasing their funding for disaster prevention, preparedness, anticipatory action, and response; calls for humanitarian actors to sign onto and implement the Climate Charter for humanitarian organisations, to maximise the environmental sustainability of their work;
2023/07/19
Committee: DEVE
Amendment 118 #

2023/2000(INI)

Motion for a resolution
Paragraph 12 a (new)
12a. Highlights the role and importance of local formal and informal civil society organisations in the humanitarian response; calls on the Commission and Member States to guarantee their inclusion and participation in all processes in line with the Guidelines on Promoting Equitable Partnerships with Local Responders in Humanitarian Settings published by the Commission;
2023/07/19
Committee: DEVE
Amendment 123 #

2023/2000(INI)

Motion for a resolution
Paragraph 13
13. Asks the Commission to better address the needs of vulnerable groups in humanitarian responses, including minorities, children, women, the elderly, and particularly persons with disabilities and intersectional vulnerabilities; encourages the use of the Organisation for Economic Co-operation and Development’s disability marker to track the progress made in humanitarian action; calls on the Commission to support the External Action Service in order to update the EU guidelines on children and armed conflict and ensure their implementation;
2023/07/19
Committee: DEVE
Amendment 129 #

2023/2000(INI)

Motion for a resolution
Paragraph 14
14. Notes that the number of forcibly displaced persons worldwide is at a record high; calls for the EU and the global community to support refugees, internally displaced people and their host communities, including those forced to flee due the impacts of climate change, and to work for durable solutions, in particular in forgotten crises; calls on the Commission and Member States to report on and reiterate the commitments made under the Global Compact for Refugees to ensure that the global responsibility to host refugees is shared more fairly;
2023/07/19
Committee: DEVE
Amendment 132 #

2023/2000(INI)

Motion for a resolution
Paragraph 14 a (new)
14a. Underlines that existing structural gender inequalities are exacerbated during crises and that therefore, women and girls, as well as the most marginalised groups that suffer different and intersecting forms of discrimination are disproportionately affected by conflicts, natural disasters or climate change hazards; deplores the increase in gender- based violence in humanitarian settings and stresses the need to prevent it; underlines that the specific needs and rights of these groups should be addressed in all humanitarian responses;
2023/07/19
Committee: DEVE
Amendment 137 #

2023/2000(INI)

Motion for a resolution
Paragraph 15
15. Calls for the EU and the Member States to take positive action on gender mainstreaming in humanitarian action, given that women and girls are the most likely victims of conflicts and natural disasters but also agents of change; underlines the need to accelerate the implementation of the EU Gender Action Plan; deplores the increase in gender-based violence in humanitarian settings and stresses the need to prevent it;
2023/07/19
Committee: DEVE
Amendment 145 #

2023/2000(INI)

Motion for a resolution
Paragraph 16
16. Insists on the need to reinforce the centrality and protection of international humanitarian law, international human rights law and humanitarian principles in the EU’s external action; invites the Commission to develop a humanitarian diplomacy strategy together with the Member States, ensuring that this strategy advocates the protection of civilians, compliance with international humanitarian law and respect for humanitarian principles;
2023/07/19
Committee: DEVE
Amendment 147 #

2023/2000(INI)

Motion for a resolution
Paragraph 16 a (new)
16a. Calls on the European Union and the Member States to use all of their political influence to promote and uphold IHL, protect civilians and support humanitarian access to allow disaster affected people to access humanitarian aid as civilians must be better protected and not become intentional, accidental, or collateral victims of conflicts;
2023/07/19
Committee: DEVE
Amendment 152 #

2023/2000(INI)

Motion for a resolution
Paragraph 17
17. Strongly condemns war crimes and serious violations of international humanitarian law; calls for all perpetrators to be held accountable and for victims to receive reparations; deplores the rise in attacks on civilians, humanitarian personneland medical personnel and critical infrastructure, inlcuding hospitals and schools, worldwide and insists on the need to increase protection measures for civilians, humanitarian and medical workers, critical infrastructures and preventing sexual exploitation and abuse within the humanitarian workers; condemns discriminatory policies, such as the ban on female humanitarian workers in Afghanistan;
2023/07/19
Committee: DEVE
Amendment 162 #

2023/2000(INI)

Motion for a resolution
Paragraph 18
18. Welcomes the adoption of UN Security Council Resolution 2664 (201622) introducing a humanitarian exemption in UN sanction regimes; calls for the EU to further align with the global standard set by UN Security Council Resolution 2664 (2016) and to22); calls the Commission to carry out analysis of the impact of sanctions on the delivery of humanitarian aid and subsequently adopt standing humanitarian exemptions in its autonomous sanction regimes in order to facilitate humanitarian activities in contexts affected by armed conflict, as required by international humanitarian law; furthermore insists on the need to include a standing humanitarian exemption in the future Directive on the definition of criminal offences and penalties for the violation of Union restrictive measures in order to ensure that humanitarian activities are not criminalized under EU sanction regimes and that humanitarian workers are protected in the contexts where EU sanctions apply; calls on the European Commission to work closely with financial institutions and humanitarian actors to ensure that administrative barriers including de-risking over- compliance are addressed to enable the delivery of humanitarian aid;
2023/07/19
Committee: DEVE
Amendment 174 #

2023/2000(INI)

Motion for a resolution
Paragraph 19
19. Underlines the importance of supporting local actors in line with the Grand Bargain commitment to making principled humanitarian action as local as possible; invitpraises the Commission and the Member States to furole that local and national organisations and first responders play in humanitarian responses and the support they provide to people in the most acute needs; welcomes the EC guidance note on equitable parthner developships and ECHO’s commitment to advance their localisation strategies in close collaboration with humanitarian partners, and to ensure an adequate sharing of riskagenda in the Grand Bargain discussions; calls on the European Commission and Member States for the full and meaningful implementation of the commitments enshrined in guidance note, ensuring accountability for the commitments made, a proper support to its partners as well as a fair sharing of risks with intermediate and local partner organisations;
2023/07/19
Committee: DEVE
Amendment 17 #

2023/0404(COD)

Proposal for a regulation
Recital 1
(1) The Union and individual Member States are facing shortages in a wide range of sectors and occupations, including in those relevant for the green and digital transitions. Extensive shortages in construction, healthcare, hospitality, transport, information and communications technology and in science technology, engineering and mathematics, are long- standing and have been exacerbated by the COVID-19 pandemic and the acceleration of the green and, digital and social transitions. Labour shortages are expected to persist and potentially aggravate in the light of demographic challenges.
2024/02/12
Committee: DEVE
Amendment 18 #

2023/0404(COD)

Proposal for a regulation
Recital 1 a (new)
(1a) The EU Talent Pool should contribute to SDG 5 on Gender Equality by promoting the inclusion of women in all sectors and occupations, avoiding gender-segregation and following the policy framework of the Gender Action Plan III.
2024/02/12
Committee: DEVE
Amendment 19 #

2023/0404(COD)

Proposal for a regulation
Recital 1 b (new)
(1b) The EU Talent Pool should take into consideration that access to internet is low in some developing regions, such as Sub-Saharan Africa, and consider that this may hinder the participation of potential jobseekers.
2024/02/12
Committee: DEVE
Amendment 20 #

2023/0404(COD)

Proposal for a regulation
Recital 1 c (new)
(1c) The EU Talent Pool should promote skills-based migration that relies on genuine partnerships and contributes to sustainable development for all. Thus, the perspective of participating third countries should be taken into consideration, particularly as regards potential consequences on brain-drain which can lead to third countries losing the human capital they economically invested in; as well as possible consequences on family disintegration that could contribute to the 'left-behind' children phenomenon and the loss of care resources, therefore possibly worsening the care-drain.
2024/02/12
Committee: DEVE
Amendment 23 #

2023/0404(COD)

Proposal for a regulation
Recital 2
(2) Addressing labour shortages requires a comprehensive approach at Union and national level which includes, as a priority, better realising the full potential of groups with lower labour market participation, reskilling and upskilling the existing workforce, facilitating intra-EU labour mobility, as well as improving working conditions and the attractiveness of certain occupations. Due to the current scale of the labour market shortages and the demographic trends, measures targeting the domestic and Union workforce alone are likely to be insufficient to address existing and future labour and skills shortages. Therefore, legal migration through regular channels is key to complement those actions and must be part of the solution to fully support the twinriple transition.
2024/02/12
Committee: DEVE
Amendment 28 #

2023/0404(COD)

Proposal for a regulation
Recital 5
(5) The EU Talent Pool should aim at supporting participating Member States to address existing and future skills and labour shortages via the recruitment of third country nationals to the extent the activation of the domestic workforce and intra-EU mobility are not sufficient to achieve this objective. As a voluntary tool to facilitate international recruitment, that should become compulsory with time, the EU Talent Pool should offer additional support at Union level to interested Member States. To this end, complementarity and interoperability with existing national initiatives and platforms should be ensured. Member States’ specific needs should be taken into account in the development of the EU Talent Pool in order to ensure the widest participation possible. Hence, ‘Talent’ is an encompassing term referring to the entire range of skills that might be needed by the Member States’ labour markets. Third country skills shortages should also be taken into account when defining the occupations for facilitating international recruitment so as not to aggravate brain- drain in critical sectors.
2024/02/12
Committee: DEVE
Amendment 31 #

2023/0404(COD)

Proposal for a regulation
Recital 6
(6) The EU Talent Pool aims at providing services to employers that are established in the participating Member States, including private employment agencies, temporary work agencies and labour market intermediaries as defined by the International Labour Organisation Convention 181 from 1997, as well as facilitating the participation of micro, small and medium-sized enterprises.
2024/02/12
Committee: DEVE
Amendment 37 #

2023/0404(COD)

Proposal for a regulation
Recital 10
(10) Synergies should be ensured, where appropriate, between the EU Talent Pool IT platform and other relevant instruments and services at Union level, including with regard to access to training materials such as the EU Academy and the Interoperable Europe Academy. Synergies should also be ensured with EU-funded education programmes in developing countries, such as the Global Partnership for Education, Education Cannot Wait and the Erasmus+ programme. The EU Talent Pool IT platform should be quickly and regularly adapted to new practices in technology and provide state-of-the-art IT services by introducing innovative features and tools.
2024/02/12
Committee: DEVE
Amendment 40 #

2023/0404(COD)

Proposal for a regulation
Recital 16
(16) The EU Talent Pool should contribute to the objective of discouraging irregular migration including by facilitating access to existing legal pathways, as well as boosting international mobility, skills development, contributing to human capital development by promoting decent work and social inclusion. Jobseekers from third countries who are subject to a judicial or administrative decision refusing the entry or stay in a Member State or an entry ban in accordance with Directive 2008/115/EC of the European Parliament and of the Council11 , should not be allowed to register their profiles in the EU Talent Pool IT platform, given that they will not be permitted to enter and stay in the Union. To this end, jobseekers from third countries should be required, before registering their profiles in the EU Talent Pool, to declare that they are not currently subject to a refusal of entry or stay in a Member State or an entry ban to the territory of the Union. Information should also be provided on the consequences for making a false declaration in this respect. __________________ 11 Directive 2008/115/EC of the European Parliament and of the Council of 16 December 2008 on common standards and procedures in Member States for returning illegally staying third-country nationals (OJ L 348, 24.12.2008, p. 98, ELI: http://data.europa.eu/eli/dir/2008/115/oj).
2024/02/12
Committee: DEVE
Amendment 44 #

2023/0404(COD)

Proposal for a regulation
Recital 17
(17) Jobseekers from third countries wishing to register in the EU Talent Pool should create a profile using, where appropriate, the Europass12 profile builder functionality enabling to create a free profile without any pictures and report the relevant skills, qualifications, and other experiences in one secure online location. __________________ 12 Decision (EU) 2018/646 of the European Parliament and of the Council of 18 April 2018 on a common framework for the provision of better services for skills and qualifications (OJ L 112, 2.5.2018, p. 42, ELI: http://data.europa.eu/eli/dec/2018/646/oj).
2024/02/12
Committee: DEVE
Amendment 45 #

2023/0404(COD)

Proposal for a regulation
Recital 17 a (new)
(17a) Eligibility and selection criteria should be transparent, non-discriminatory and promote equal-treatment, considering a wide-range of skills and capacities, and providing opportunities for persons with disabilities.
2024/02/12
Committee: DEVE
Amendment 46 #

2023/0404(COD)

Proposal for a regulation
Recital 18
(18) Where necessary, the recognition of qualifications and validation of skills of registered jobseekers from third countries should be conducted in the participating Member States upon request of the jobseeker or the employer in accordance with the national law and practices, and with any relevant international agreements, including Mutual Recognition Arrangements for professional qualifications. It should be considered that the process of recognition of qualifications and validation of skills varies between Member States, and that the participating Member States with less effective practices may take longer to process the information of registered jobseekers, which may negatively affect the functioning of the EU Talent Pool in some Member States. Therefore, the EU Talent Pool should serve as a tool to promote a smoother recognition of qualifications and validation of skills in the participating Member States. Personalised assistance and online information on existing recognition and validation procedures at national level should be available in the EU Talent Pool IT platform and it should be provided by the EU Talent Pool National Contact Points.
2024/02/12
Committee: DEVE
Amendment 47 #

2023/0404(COD)

Proposal for a regulation
Recital 19
(19) In the context of Talent Partnerships, nationals of selected third countries receive support for the development and validation of skills in a framework endorsed by Member States taking part in a Talent Partnership and partner countries. The selection of participating third countries in the Talent Partnerships should be fully transparent, with precise information on the functioning and outcome of the selection process. Therefore, the skills developed or validated in the framework of a Talent Partnership should be certified by the ‘EU Talent Partnership pass’ which is visible in the context of the EU Talent Pool. Employers participating in the EU Talent Pool should be able to filter the profiles of registered jobseekers from third countries as to visualise those having obtained an ‘EU Talent Partnership pass’. This could encourage employers to offer a job placement in the Union. Member States, in the framework of a Talent Partnership, should determine the conditions for the issuing of the ‘EU Talent Partnership pass’ for the purpose of the EU Talent Pool, including whether a partner country’s national authority, an international organisation or other stakeholder should support its deliver. The issuing of a ‘EU Talent Partnership pass’ is without prejudice to European and national rules on access to regulated professions.
2024/02/12
Committee: DEVE
Amendment 52 #

2023/0404(COD)

Proposal for a regulation
Recital 23
(23) The International Labour Organisation (ILO) in its ‘General principles and operational guidelines for fair recruitment’ sets out a number of standards on adequate protection of jobseekers from third countries against unfair recruitmentlawful recruitment, and, in particular, reiterates the principle that no recruitment fees or costs should be paid by workers or jobseekers. Employers should comply with applicable Union law and practice. Equal treatment of jobseekers from third countries with respect to nationals of the participating Member States should also be ensured by the employers in accordance with Directive 2011/9813 , Directive 2014/36/EU14 , Directive 2021/1883/EU15 , and Directive 2016/801/EU16 .and Directive 2000/78/EC16b In accordance with Directive 2019/1152/EU17 , employers participating in the EU Talent Pool should provide to registered jobseekers from third countries information in writing and in an understandable language (including in the official languages of third countries participating in the Talent Partnerships) on their rights and obligations resulting from the employment relationship at the start of the employment. This information should at least include the place and the type of work, the duration of employment, the remuneration, the working hours, the amount of any paid leave and, where applicable other relevant working conditions. An employer should neither charge any recruitment fee nor prohibit a worker from taking up employment with other employers, outside the work schedule established with that employer, nor subject a worker to adverse treatment for doing so. Employers participating in the EU Talent Pool should comply with Directive 96/71/EC18 as amended by Directive 2018/957 when posting workers in the framework of the provision of services, in particular with regard to the terms and conditions of employment thereby established such as the obligation that third country workers can only be posted to a Member State if they are legally and habitually employed in another Member State. Employers should be required to declare that they uphold fair recruitment according to international labour standards when registering a vacancy. The principle that no workers or jobseekers should pay recruitment fees or related costs should be clearly stated in the platform and on job vacancies. Pro- active monitoring of employers’ compliance should be assured by the National Contact Points in coordination with social partners as relevant. __________________ 13 Directive 2011/98/EU of the European Parliament and of the Council of 13 December 2011 on a single application procedure for a single permit for third- country nationals to reside and work in the territory of a Member State and on a common set of rights for third-country workers legally residing in a Member State (OJ L 343, 23.12.2011, p. 1–9, ELI: http://data.europa.eu/eli/dir/2011/98/oj). 14 Directive 2014/36/EU of the European Parliament and of the Council of 26 February 2014 on the conditions of entry and stay of third-country nationals for the purpose of employment as seasonal workers OJ L 94, 28.3.2014, p. 375, ELI: http://data.europa.eu/eli/dir/2014/36/oj). 15 Directive (EU) 2021/1883 of the European Parliament and of the Council of 20 October 2021 on the conditions of entry and residence of third-country nationals for the purpose of highly qualified employment, and repealing Council Directive 2009/50/EC, OJ L 382, 28.10.2021, p. 1, ELI: http://data.europa.eu/eli/dir/2021/1883/oj). 16 Directive (EU) 2016/801 of the European Parliament and of the Council of 11 May 2016 on the conditions of entry and residence of third-country nationals for the purposes of research, studies, training, voluntary service, pupil exchange schemes or educational projects and au pairing (recast) (OJ L 132, 21.5.2016, p. 21, ELI: http://data.europa.eu/eli/dir/2016/801/oj). 16b Directive 2000/78/EC of the Council of 27 November 2000 establishing a general framework for equal treatment in employment and occupation (OJ L 303, 2.12.2000, p. 16–22, ELI: http://data.europa.eu/eli/dir/2000/78/oj). 17 Directive (EU) 2019/1152 of the European Parliament and of the Council of 20 June 2019 on transparent and predictable working conditions in the European Union (OJ L 186, 11.7.2019, p. 105, ELI: http://data.europa.eu/eli/dir/2019/1152/oj). 18 Directive 96/71/EC of the European Parliament and of the Council of 16 December 1996 concerning the posting of workers in the framework of the provision of services (OJ L 18, 21.1.1997, p. 1, ELI: http://data.europa.eu/eli/dir/1996/71/oj).
2024/02/12
Committee: DEVE
Amendment 62 #

2023/0404(COD)

Proposal for a regulation
Recital 25
(25) The EU Talent Pool platform should meet established needs on the labour market, while promoting employment stability and combating precarity, and should not serve as a means to displace or negatively affect the existing workforce or otherwise undermine decent work or fair competition. To better support Member States’ efforts in addressing existing and future labour shortages, the EU Talent Pool should target specific occupations at all skills levels, based on the most common shortage occupations in the Union while taking into account the possible risk of brain-drain and care- drain from developing countries and on the occupations with a direct contribution to the green and digital transitions, set out in the Annex to this Regulation. In order to adapt the job vacancies to the specific needs of the national labour markets and taking as a starting point the list of EU- wide shortage occupations set out in the Annex, participating Member States shall be allowed to notify to the EU Talent Pool Secretariat the addition or removal of specific shortage occupations. Such notifications should only impact the matches for job vacancies submitted by the respective Member State. Neither the list of EU-wide shortage occupations nor the Member States’ notifications should affect the principle of preference for Union citizens.
2024/02/12
Committee: DEVE
Amendment 64 #

2023/0404(COD)

Proposal for a regulation
Recital 26
(26) Participating Member States should make information concerning the EU Talent Pool and its functioning easily accessible to jobseekers from third countries and employers through information campaigns, in particular with regard to information on the competent authorities in the participating Member States. Such information should include the conditions and procedures for the participation in the EU Talent Pool.
2024/02/12
Committee: DEVE
Amendment 65 #

2023/0404(COD)

Proposal for a regulation
Recital 27
(27) The EU Talent Pool Secretariat should ensure that easily accessible information on immigration procedures, recognition of qualifications and validation of skills, third country nationals’ rights, including labour and trade union rights, living and working conditions as well as available redress mechanisms for cases of labour exploitation and unfair recruitment practices in the participating Member States is available on the EU Talent Pool IT platform, following IOM standards. The EU Talent Pool National Contact Points should provide the relevant information with the EU Talent Pool Secretariat in order to allow its publication on the EU Talent Pool IT platform. Online information on support available to jobseekers in need of international protection who are in third countries should also be available on the EU Talent Pool IT platform. Support measures put in place by the Member States cshould include specific information campaigns, support to obtain a travel document, and integration support upon arrival, including existing state assistance services for migrants.
2024/02/12
Committee: DEVE
Amendment 69 #

2023/0404(COD)

Proposal for a regulation
Recital 28
(28) Information provided on the EU Talent Pool IT platform should be made available at least in the official languages of the participating Member States, and in official languages of third countries participating in the Talent Partnership.
2024/02/12
Committee: DEVE
Amendment 71 #

2023/0404(COD)

Proposal for a regulation
Recital 29
(29) The Delegations of the European Union should support the provision of information to jobseekers from third countries on the EU Talent Pool and its functioning, as well as the participating Member States, in collaboration with organisations of Europeans living abroad and migrant organisations in the EU. Considering the low access to private internet connection in some developing countries and regions, jobseekers who wish to create a profile in the EU Talent Pool should be able to do it, when possible, physically in the Delegations of the European Union in third countries.
2024/02/12
Committee: DEVE
Amendment 72 #

2023/0404(COD)

Proposal for a regulation
Recital 30
(30) Upon request from registered jobseekers from third countries and employers participating in the EU Talent Pool, the EU Talent Pool National Contact Points could provide additional supportThe EU Talent Pool National Contact Points should provide additional support to promote fair recruitment and offer easy access to information and to the navigation on the platform or to complete online procedures and thereby reduce workers’ dependency on private and sometimes informal intermediaries for such tasks. Additional support should include tailored information on relevant visas and residence permits for work purposes in the participating Member State including with regard to third country nationals’ rights and obligations such as access to social benefits, health assistance, education, and housing. Specific guidance and information mayshould also be provided on family reunification procedures and family members’ rights, and existing measures to facilitate integration in the host Member State such as language courses and vocational training. Such information should also include available redress mechanisms for cases of labour exploitation and unfair recruitment practices in the participating Member States, as well as contact information of relevant institutional bodies and other organisations that can provide support to file a complaint. The EU Talent Pool National Contact Points should provide information to employers participating in the EU Talent Pool on their rights and obligations relating to social security, active labour market measures, taxation, issues relating to work contracts, pension entitlements and health insurance. Clear and accessible information and guidance should be provided to jobseekers as well as employers throughout the recruitment process.
2024/02/12
Committee: DEVE
Amendment 76 #

2023/0404(COD)

Proposal for a regulation
Recital 37
(37) Participating Member States should implement this Regulation in full compliance with all EU Charter of Fundamental Rights obligations and in particular without discrimination on the basis of sex, race, colour, ethnic or social origin, genetic features, languages, religious or belief, political or any other opinions, membership of a national minority, property, birth, disability, age or, sexual orientation, as well as on the basis of socio-cultural background or gender identity. The respect of fair and just working conditions and the protection of young people at work should be ensured.
2024/02/12
Committee: DEVE
Amendment 89 #

2023/0404(COD)

Proposal for a regulation
Article 8 – paragraph 2 – point e
(e) collecting relevant data for monitoring the performance of the EU Talent Pool pursuant to Article 20, including gender, age and disability disaggregated data, and on the impacts of this Regulation on developing countries, especially regarding the brain-drain and care-drain phenomenon, and its impact on reducing inequalities and guaranteeing decent work and economic growth;
2024/02/12
Committee: DEVE
Amendment 92 #

2023/0404(COD)

Proposal for a regulation
Article 8 – paragraph 2 – point f a (new)
(fa) Making sure that the EU Talent Pool National Contact Points provide sufficient information and support services to registered jobseekers from third countries and employers participating in the EU Talent Pool in accordance with Article 17;
2024/02/12
Committee: DEVE
Amendment 93 #

2023/0404(COD)

Proposal for a regulation
Article 8 – paragraph 2 – point f b (new)
(fb) Guaranteeing that information about the EU Talent Pool is delivered efficiently to potential jobseekers from third countries, by engaging with refugee communities (inside and outside of the EU), with organisations responsible for refugee reception and integration, employers’ associations, trade unions, and other bodies responsible for employment relationships;
2024/02/12
Committee: DEVE
Amendment 94 #

2023/0404(COD)

Proposal for a regulation
Article 9 – paragraph 1 – point c
(c) facilitating the gathering of data relevant for the monitoring activities of the EU Talent Pool referred to in Article 20, in coordination with the European External Action Service, responsible for the Delegations of the EU in third countries;
2024/02/12
Committee: DEVE
Amendment 96 #

2023/0404(COD)

Proposal for a regulation
Article 9 – paragraph 3
3. The EU Talent Pool Steering Group shall meet twice a year, or on ad-hoc basis when necessary. The meetings shall be convened and chaired by the Commission and with presence of the European External Action Service.
2024/02/12
Committee: DEVE
Amendment 98 #

2023/0404(COD)

Proposal for a regulation
Article 9 – paragraph 4
4. Representatives of the cross- industry social partners organisations at Union level shall have the right to participate as observers in the meetings of the EU Talent Pool Steering Group. Representation of two participants from trade union, two participants from relevant civil society organisations and two participants from employer organisations shall be ensured by the EU Talent Pool Steering Group. Those representatives shall sign a written statement declaring that they are not in a situation of conflict of intereste selection of the participants from trade union, civil society and employer organisations shall be fully transparent and reflect the diversity present in all sectors. Those representatives shall sign a written statement declaring that they are not in a situation of conflict of interest. In addition, the Steering Group shall also establish consultations with other relevant stakeholders from third countries, including local civil society organisations.
2024/02/12
Committee: DEVE
Amendment 103 #

2023/0404(COD)

Proposal for a regulation
Article 10 – paragraph 2 – point d a (new)
(da) Ensuring that employers participating in the EU Talent Pool are respecting provisions pursuant to Article 13 (3) and are promoting equal treatment and non-discrimination of workers and jobseekers from third countries on the basis of gender, ethnic or social origin, socio-cultural background, genetic features, languages, religious belief, political or any other opinions, membership of a national minority, property, birth, disability, age, sexual orientation or gender identity by doing the necessary labour inspections. Attention should be especially given to occupations with higher rates of labour exploitation, such as care services, cleaning services and domestic work, hospitality, retail and transportation.
2024/02/12
Committee: DEVE
Amendment 106 #

2023/0404(COD)

Proposal for a regulation
Article 10 – paragraph 3
3. The EU Talent Pool National Contact Points from each participating Member State shall be regularly convened by the EU Talent Pool Secretariat in the Network of the EU Talent Pool National Contact Points to exchange information and best practices on the implementation of this Regulation and should issue public communications about the progress in implementing the Regulation.
2024/02/12
Committee: DEVE
Amendment 107 #

2023/0404(COD)

Proposal for a regulation
Article 11 – paragraph 1
1. Jobseekers from third countries may create their profiles, where appropriate, via the Europass profile builder in order to register on the EU Talent Pool IT platform. The profiles on the EU Talent Pool IT platform should not include pictures of the jobseekers.
2024/02/12
Committee: DEVE
Amendment 108 #

2023/0404(COD)

Proposal for a regulation
Article 11 – paragraph 1 a (new)
1a. The creation of the profile via the Europass profile builder should not constitute a prerequisite for potential jobseekers to register in the EU Talent Pool IT platform.
2024/02/12
Committee: DEVE
Amendment 109 #

2023/0404(COD)

Proposal for a regulation
Article 11 – paragraph 4 a (new)
4a. When possible, jobseekers who wish to create a profile in the EU Talent Pool should be able to do it physically in the Delegations of the European Union in third countries.
2024/02/12
Committee: DEVE
Amendment 110 #

2023/0404(COD)

Proposal for a regulation
Article 12 – paragraph 3 – introductory part
3. The ‘EU Talent Partnership pass’ shall be visible on the EU Talent Pool IT platform and shall contain information on one or more of the following elements, without including pictures of the jobseekers:
2024/02/12
Committee: DEVE
Amendment 116 #

2023/0404(COD)

Proposal for a regulation
Article 13 – paragraph 3 – subparagraph 1
Employers participating in the EU Talent Pool shall comply with the relevant Union and national law and practice to ensure third-country nationals’ protection against unfair recruitment and inadequate working conditions as well as non-discrimination, and to be up to date with their tax obligations. Participating Member States may introduce additional conditions for the employers’ participation in the EU Talent Pool to ensure compliance with other relevant national practices, collective agreements and the principles and guidelines set out by the International Labour Organisation, in compliance with Union law.
2024/02/12
Committee: DEVE
Amendment 117 #

2023/0404(COD)

Proposal for a regulation
Article 13 – paragraph 3 – subparagraph 2
Employers participating in the EU Talent Pool shall not charge fees or related costs to registered jobseekers from third countries for the purpose of the recruitment. A clear statement that no recruitment fees or costs are charged to workers should be made visible in job vacancies.
2024/02/12
Committee: DEVE
Amendment 122 #

2023/0404(COD)

Proposal for a regulation
Article 14 – paragraph 1 – subparagraph 2 – point b
(b) occupations which contribute directly to the EU green, social and digital transitions and which are likely to grow in importance, with special attention to professional care work.
2024/02/12
Committee: DEVE
Amendment 123 #

2023/0404(COD)

Proposal for a regulation
Article 14 – paragraph 2 a (new)
2a. The EU Talent Pool Secretariat shall publish the list of the EU-wide shortage occupations on the EU Talent Pool IT platform and should review the list regularly to make sure it reflects the changes in shortages over the years.
2024/02/12
Committee: DEVE
Amendment 131 #

2023/0404(COD)

Proposal for a regulation
Article 17 – paragraph 1 – subparagraph 2 – introductory part
The EU Talent Pool Secretariat, with the support of the EU Talent Pool National Contact Points and the European External Action Service, shall make available, on the EU Talent Pool IT platform, the following information:
2024/02/12
Committee: DEVE
Amendment 132 #

2023/0404(COD)

Proposal for a regulation
Article 17 – paragraph 1 – subparagraph 2 – point a
(a) information concerning recruitment and immigration procedures, recognition of qualifications and validation of skills, rights of third country nationals, including with regard to available redress mechanismaccess to justice and redress mechanisms, and support organisations as well as information on living and working conditions in the participating Member States;
2024/02/12
Committee: DEVE
Amendment 136 #

2023/0404(COD)

Proposal for a regulation
Article 17 – paragraph 2 – point c
(c) specific information on third- country nationals’ rights and obligations including access to social benefits, health assistance, education, housing, recognition of qualifications and the complaint mechanism pursuant to Article 18, as well as information on best practices for managing remittances to reduce transaction costs under the concept of co- development;
2024/02/12
Committee: DEVE
Amendment 140 #

2023/0404(COD)

Proposal for a regulation
Article 17 – paragraph 2 – point e a (new)
(ea) information on assistance available to third country nationals that at the end of their working contract with an employer participating in the EU Talent Pool wish to stay in the Member State of reception;
2024/02/12
Committee: DEVE
Amendment 142 #

2023/0404(COD)

Proposal for a regulation
Article 18 – paragraph 1
1. Participating Member States shall ensure that there are gender-responsive, fair, affordable and effective mechanisms through which registered jobseekers from third countries may lodge complaints in case of breach by the employers participating in the EU Talent Pool of the obligations and conditions laid down in Article 13(3).
2024/02/12
Committee: DEVE
Amendment 144 #

2023/0404(COD)

Proposal for a regulation
Article 18 – paragraph 2 a (new)
2a. The EU Talent Pool IT Platform shall feature a directly accessible complaint mechanism for registered jobseekers against unlawful recruitment as well as abusive employment practices, indicating the relevant institutional body or organisation they should refer to.
2024/02/12
Committee: DEVE
Amendment 152 #

2023/0404(COD)

Proposal for a regulation
Article 20 – paragraph 1 – introductory part
1. The performance of the EU Talent Pool shall be regularly monitored by the EU Talent Pool Secretariat in accordance with Article 8(2), point (e). In particular, gender, age and disability disaggregated data shall be gathered on:
2024/02/12
Committee: DEVE
Amendment 153 #

2023/0404(COD)

Proposal for a regulation
Article 20 – paragraph 1 – point f a (new)
(fa) the impact of the regulation on developing countries through clear indicators that measure its impact on SDG 5 on gender equality, SDG 8 on decent work and economic growth and SDG 10 on reduced inequalities.
2024/02/12
Committee: DEVE
Amendment 157 #

2023/0404(COD)

Proposal for a regulation
Article 20 – paragraph 3
3. The EU Talent Pool Secretariat shall gather the data referred to in paragraph 1 with the support of the EU Talent Pool National Contact Points and the EU Talent Pool Steering Group and the Delegations of the European Union.
2024/02/12
Committee: DEVE
Amendment 158 #

2023/0404(COD)

Proposal for a regulation
Article 22 – paragraph 1
1. The Commission shall be assisted by a Committee established by this Regulation. That Committee shall be a committee within the meaning of Regulation (EU) No 182/2011 and should include relevant civil society stakeholders.
2024/02/12
Committee: DEVE
Amendment 159 #

2023/0404(COD)

Proposal for a regulation
Article 23 – paragraph 1
1. By 31.12.203127 and every five years thereafter, the Commission shall submit a report to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions on the application of this Regulation, taking into account its impact on the objectives of EU development cooperation in line with the principle of Policy Coherence for Development and the advancements of the SDGs in participating third countries, especially SDG 5 on Gender Equality, SDG 8 on Decent Work and Economic Growth and SDG 10 on Reduced Inequalities.
2024/02/12
Committee: DEVE
Amendment 28 #

2023/0079(COD)

Proposal for a regulation
Recital 10
(10) In order to diversify the Union's supply of strategic raw materials, the Commission should, with the support of the Board, identify Strategic Projects in third countries that intend to become active in the extraction, processing or recycling of strategic raw materials. To ensure that such Strategic Projects are effectively implemented, they should benefit from improved access to finance and to financial guarantee mechanisms in place. In order to ensure their added value, projects should be assessed against a set of criteria. Like projects in the Union, Strategic Projects in third countries should strengthen the Union's security of supply for strategic raw materials, show sufficient technical feasibility and be implemented sustainably, in compliance with due diligence processes as defined by EU legislation and OECD Guidelines for Multinational Enterprises, addressing adverse impacts on human rights and environmental, rule of law and good governance. For projects in emerging markets and developing economies, the project should be mutually beneficial for the Union and the third country involved and add value in that country, taking into account also its consistency with the Union’s common commercial policy as well as the principle of Policy Coherence for Development (PCD) as laid down in Article 208 TFEU. Such value may be derived from the project’s contribution to more than one stage of the whole value chain, including raw material processing, as well as from creating through the project wider economic and social benefits, including the creation of employment in compliance with international standards and with the core labour standards of the International Labour Organisation. Where the Commission assesses these criteria to be fulfilled, it should publish the recognition as a Strategic Project in a decision.
2023/06/05
Committee: DEVE
Amendment 32 #

2023/0079(COD)

Proposal for a regulation
Recital 10 a (new)
(10a) The definition of mutually beneficial partnerships with third countries requires an overall effort and a competitive model different from other global players. This model should not be based on the exploitation of resources, but should consider the export and processing of raw materials as part of comprehensive organic and long-term agreements. The European strategy should take into account that the extraction of these raw materials can have a considerable impact on the territories where it takes place, both from an environmental point of view and in terms of respect for human and labour rights, and therefore different modalities should be put in place in order to avoid and mitigate these impacts. In this sense it is essential to ensure greater involvement of local communities in the definition of impacts and their mitigation, as well as in governance and in the definition of a more beneficial value chain.
2023/06/05
Committee: DEVE
Amendment 34 #

2023/0079(COD)

Proposal for a regulation
Recital 10 b (new)
(10b) The secure and sustainable supply of critical raw materials is strongly linked to the Sustainable Development Goals, in particular in order to ensure access to affordable, reliable, sustainable and modern energy, to promote inclusive and sustainable industrialization and foster innovation and to combat climate change and its impacts. For this reason it is fundamental to connect the European strategy to a global standards framework. In particular, the United Nations Framework Resource Classification (UNFC) and the United Nations Resource Management System (UNRMS) are important references for the identification of raw materials and for the definition of a framework for integrated resource management that can help both countries and companies to address sustainability challenges.
2023/06/05
Committee: DEVE
Amendment 37 #

2023/0079(COD)

Proposal for a regulation
Recital 11
(11) In order to ensure the sustainability of increased raw material production, new raw materials projects should be implemented sustainably. To that end, the Strategic Projects receiving support under this Regulation should be assessed taking into account international instruments covering all aspects of sustainability highlighted in the EU principles for sustainable raw materials31, including ensuring environmental protection, good governance processes including full involvement of local communities and Civil Society Organisations,socially responsible practices, including respect for human and socialrights such as the rights of women, andchildren and workers, as well astransparent business practices. Projects should also ensure engagement in good faith as well as comprehensive and meaningful consultations with local communities, including with indigenous peoples, as laid out in the United Nations Declaration on the Rights ofIndigenous Peoples. To provide project promoters with a clear and efficient way of complying with this criterion, compliance with relevant Union legislation, international standards, guidelines and principles or participation in a certification scheme recognised under this Regulation should be considered sufficient. _________________ 31 European Commission, Directorate- General for Internal Market, Industry, Entrepreneurship and SMEs, EU principles for sustainable raw materials, Publications Office, 2021, https://data.europa.eu/doi/10.2873/27875
2023/06/05
Committee: DEVE
Amendment 53 #

2023/0079(COD)

Proposal for a regulation
Recital 28
(28) In order to overcome the limitations of the currently often fragmented public and private investments efforts, facilitate integration and return on investment, the Commission, Member States and promotional banks should better coordinate and create synergies between the existing funding programmes at Union and national level as well as ensure better coordination and collaboration with industry and key private sector stakeholders. To that end, a dedicated sub-group of the Board bringing together experts from the Member States and the Commission as well as relevant public financial institutions should be set up. This sub-group should discuss the individual financing needs of Strategic Projects and their existing funding possibilities in order to provide project promoters with a suggestion on how to best access existing financing possibilities. When discussing and making recommendations for the financing of Strategic Projects in third countries, the Board should in particular take into account the Global Gateway strategy42, that is a key reference for financing and securing investments and loans to support the creation of strategic partnerships aimed at improving supply of strategic raw materials within the framework of comprehensive partnerships. _________________ 42 Joint Communication to the European Parliament, the Council, the European Economic and Social Committee, the Committee of the Regions and the European Investment Bank The Global Gateway (JOIN/2021/30 final).
2023/06/05
Committee: DEVE
Amendment 56 #

2023/0079(COD)

Proposal for a regulation
Recital 28 a (new)
(28a) Global Gateway strategy intervention on strategic partnerships should comply with objectives, general principles and policy framework of NDICI - Global Europe regulation and in particular with the objectives of the European Fund for Sustainable Development Plus (EFSD+) to foster sustainable and inclusive economic, environmental and social development, transition into sustainable value-added economy and a stable investment environment. This concerns internationally agreed guidelines, principles and conventions on investment, including the UN Principles for Responsible Investment, the UN Guiding Principles on Business and Human Rights, the OECD Guidelines for Multinational Enterprises, ILO conventions, international human rights law and the development effectiveness principles.
2023/06/05
Committee: DEVE
Amendment 57 #

2023/0079(COD)

Proposal for a regulation
Recital 28 b (new)
(28b) Funding and guarantees of investments and loans aimed at supporting the creation of strategic partnerships fall under the democratic control and scrutiny process of the European Parliament, which receives timely advance and ex post information about the guidelines and progresses of strategic partnerships and assesses their consistency with the overall objectives.
2023/06/05
Committee: DEVE
Amendment 59 #

2023/0079(COD)

Proposal for a regulation
Recital 37
(37) So as to ensure further coordination, the Commission should ensure necessary consultation ahead of Member States’ participation in international fora where such strategic stocks may be discussed, ensuring consistency with a single European strategy, notably via the dedicated standing sub-group of the Board. Similarly, in order to increase complementarity between the present proposal and other horizontal or subject- specific instruments, the Commission should ensure that the gathered and aggregated information are passed to vigilance or crisis governance mechanisms, such as the proposed Single Market Emergency Instrument's advisory group, the proposed Chips Act's European Semiconductor Board, the HERA Board or the Health Crisis Board.
2023/06/05
Committee: DEVE
Amendment 67 #

2023/0079(COD)

Proposal for a regulation
Recital 54
(54) The Union has concluded Strategic Partnerships covering raw materials with third countries in order to implement the 2020 Action Plan on Critical Raw Materials. In order to diversify supply, these efforts should continue. To develop and ensure a coherent framework for the conclusion of future partnerships, the Member States and the Commission should, as part of their interaction on the Board and with full involvement of European Parliament, discuss and ensure coordination on, inter alia, whether existing partnerships achieve the intended aims, the prioritisation of third countries for new partnerships, the content of such partnerships and their coherence and potential synergies between Member States' bilateral cooperation with relevant third countries. The Union should seek mutually beneficial partnerships with emerging market and developing economies, reflecting a model of sustainable development that respects environmental standards, human and labour rights, the strife for diversification in developing countries and foresee a key role for local communities in coherence with its Global Gateway strategy, which contribute to the diversification of its raw materials supply chain as well as add value in the production in these countries.
2023/06/05
Committee: DEVE
Amendment 96 #

2023/0079(COD)

Proposal for a regulation
Article 5 – paragraph 1 – point e
(e) for projects in third countries that are emerging markets or developing economies, the project would be mutually beneficial for the Union and the third country concerned by adding value in that country and reflecting a model of sustainable development that respects enviromental standards, human and labour rights and foresee a key role for local communities.
2023/06/05
Committee: DEVE
Amendment 127 #

2023/0079(COD)

Proposal for a regulation
Article 33 – paragraph 1 – introductory part
1. The Board shall periodically discuss and [within 1 year after entry into force of this Regulation] and from then on, each year present a report on:
2023/06/05
Committee: DEVE
Amendment 131 #

2023/0079(COD)

Proposal for a regulation
Article 33 – paragraph 1 – point a – point iii a (new)
(iiia) establishing mutually beneficial relationships to foster sustainable and inclusive economic, environmental and social development, the transition to a sustainable value-added economy and a stable investment environment;
2023/06/05
Committee: DEVE
Amendment 135 #

2023/0079(COD)

Proposal for a regulation
Article 33 – paragraph 1 – point b
(b) the coherence and potential synergies between Member States’ bilateral cooperation with relevant third countries and the actions carried out by the Union in the context of Strategic Partnerships;
2023/06/05
Committee: DEVE
Amendment 145 #

2023/0079(COD)

Proposal for a regulation
Article 33 – paragraph 1 – point c – point ii
(ii) whether a third country's regulatory framework ensures the monitoring, prevention and minimisation of environmental impacts, the use of socially responsible practices including, the due respect of human and labour rights and, meaningful engagement with local communities and their role in the governance, the use of transparent and responsible business practices, in compliance with due diligence processes as defined by EU legislation and the OECD Guidelines for Multinational Enterprises and the prevention of adverse impacts on the proper functioning of public administration, good governance practices and the rule of law;
2023/06/05
Committee: DEVE
Amendment 152 #

2023/0079(COD)

Proposal for a regulation
Article 33 – paragraph 1 – point c – point iii
(iii) whether there are existing cooperation agreements between a third country and the Union and, for emerging markets and developing economies, the potential for the deployment of Global Gateway investment projects and the existing use of EU funding and financial tools, in line with Union policies and the Sustainable Development Goals.
2023/06/05
Committee: DEVE
Amendment 155 #

2023/0079(COD)

Proposal for a regulation
Article 33 – paragraph 1 – point c – point iv
(iv) for emerging markets and developing economies, whether and how a partnership could contribute to local value additionsocial and environmental progress and to in-country value creation as well as local value addition, including downstream and processing activities, and would be mutually beneficial for the partner country and the Union.
2023/06/05
Committee: DEVE
Amendment 164 #

2023/0079(COD)

Proposal for a regulation
Article 33 – paragraph 2
2. The Board shall, in the context of paragraph 1 and in so far as relates to emerging market and developing economies, ensure cooperation and coherence with other relevant coordination fora, including those established as part of the Global Gateway strategy.
2023/06/05
Committee: DEVE
Amendment 165 #

2023/0079(COD)

Proposal for a regulation
Article 33 – paragraph 2 a (new)
2a. The European Parliament shall receive timely advance and ex post information about the guidelines and progress on strategic partnerships, assesses their consistency with the overall objectives, general principles and policy framework of EU legislation and policies and scrutinise funding and financial instruments aimed at supporting the creation of strategic partnerships.
2023/06/05
Committee: DEVE
Amendment 9 #

2022/2080(INI)

Draft opinion
Paragraph -1 (new)
-1. Highlights that the revelations known as the Pandora Papers, released by the International Consortium for Investigative Journalists (ICIJ), show apparent tax evasion and money laundering on a vast scale, in particular through letterbox companies and trusts;
2022/10/21
Committee: DEVE
Amendment 21 #

2022/2080(INI)

Draft opinion
Paragraph 2 a (new)
2a. Recalls the broad consensus in connection with the adoption of the UN’s Agenda 2030 with the Sustainable Development Goals on the need to fundamentally increase investments to boost sustainable growth and “go from billions to trillions” in financing for development through the mobilisation of private capital;
2022/10/21
Committee: DEVE
Amendment 25 #

2022/2080(INI)

Draft opinion
Paragraph 2 b (new)
2b. Notes that the use of existing official development funds for subsidisation of private investment can be associated with trade-offs in regards to its effectiveness to implement the SDGs and that private investment in developing countries shows no sign of growing as necessary;
2022/10/21
Committee: DEVE
Amendment 42 #

2022/2080(INI)

Draft opinion
Paragraph 4 a (new)
4a. Reminds that the European Parliament has repeatedly stressed the need for a review of the EU listing process of non-cooperative jurisdictions for tax purposes to improve its transparency, the criteria used, and the effectiveness of associated defence measures;
2022/10/21
Committee: DEVE
Amendment 43 #

2022/2080(INI)

Draft opinion
Paragraph 4 b (new)
4b. Reiterates its call to reform the Code of Conduct for business taxation to combat harmful tax practices, which has become seriously outdated in the context of growing digitisation and globalisation, and asks to replace it with a framework on aggressive tax arrangements and low- rates, which would include sharper criteria for defining what constitutes a tax heaven, as well as inclusion of highly mobile wealthy individuals under the scope of the instrument;
2022/10/21
Committee: DEVE
Amendment 51 #

2022/2080(INI)

Draft opinion
Paragraph 5 a (new)
5a. Emphasises that a step-change in the taxation of private and corporate profits as well as private wealth is essential to increase fiscal spaces to fund sustainable investments and gather the much needed development funding, which is now more urgently needed than ever before due to the relentless worsening of the impacts of climate change and the continuing impacts of the COVID pandemic, especially in the Global South;
2022/10/21
Committee: DEVE
Amendment 1 #

2022/2046(INI)

Draft opinion
Paragraph -1 (new)
-1. Stresses the role of the European Union as a global player, especially in view of development policy and humanitarian aid, where it is a crucial actor providing stability and collectively the biggest donor in the world; emphasises that this role can only be fulfilled with the appropriate financial means, which must be increased due to the shifted geopolitical realities;
2022/09/08
Committee: DEVE
Amendment 4 #

2022/2046(INI)

Draft opinion
Paragraph 1
1. Regrets that the 2021-2027 multiannual financial framework (MFF) lacks a sufficiently endowed Heading 6 and, therefore, the available margins have been limited and shrinking since the first year, including an early depletion of the cushion, even beyond responding to emerging challenges and priorities; highlights that the Russian invasion of Ukraine is having global consequences and is generating unprecedented needs for EU external action, both in neighbouring countries and worldwide, as a result of; stresses that the consequences of the Russian war in Ukraine, among others the food, energy and economic crises, which are undermining progress towards the Sustainable Development Goals worldwide;
2022/09/08
Committee: DEVE
Amendment 13 #

2022/2046(INI)

Draft opinion
Paragraph 2
2. Calls on the Commission to adopt, in early 2023, an ambitious MFF revision proposal that substantially increases the resources for Heading 6; urges the Member States to agree to a significant increase in ceilings; highlights that only seven years are left to achieve Agenda 2030 and regrets that according to the SDG Report 20221a, the global average of the SDG index decreased slightly for the second consecutive year; reiterates that the EU should play a crucial role in the implementation of the SDGs as well as in supporting its partner countries in their efforts; _________________ 1a https://unstats.un.org/sdgs/report/2022/Th e-Sustainable-Development-Goals- Report-2022.pdf
2022/09/08
Committee: DEVE
Amendment 20 #

2022/2046(INI)

Draft opinion
Paragraph 3
3. Notes that the global humanitarian funding gap continues to grow; underlines that sustainable investments in disaster risk reduction are urgently needed today in order to prevent shocks and crises in the short, medium and long term; stresses that the humanitarian aid instrument must receive significantly more funding in the revised MFF to match the EU’s ambition to be a leading humanitarian donor in view of the many simulations crises in the world;
2022/09/08
Committee: DEVE
Amendment 25 #

2022/2046(INI)

Draft opinion
Paragraph 4
4. Highlights the need for flexibility mechanisms to have sufficient funding to respond to crises, without hampering efforts to achieve transparency and democratic accountability; is concerned by the uneven mobilisation of the Solidarity and Emergency Aid Reserve (SEAR); calls for more predictability in meeting internal and external emergency needs by separating the SEAR into a Solidarity Reserve for needs within the EU and an Emergency Aid Reserve for external action, or by ring- fencing the share dedicated for external crises for the entire year;
2022/09/08
Committee: DEVE
Amendment 27 #

2022/2046(INI)

Draft opinion
Paragraph 5
5. CUnderlines that inequalities between countries and people are dramatically increasing, making the need to transform economies and infrastructures in a just and sustainable way even more imperative; calls for the MFF revision to provide additional funds to the Neighbourhood, Development and International Cooperation Instrument (NDICI) – Global Europe instrument, particularly to reinforce the budget lines most in demand recently and to meet the additional needs caused by the Russian war against Ukraine without diverting money from other geographic regions, where it is urgently needed to achieve the SDGs especially SDG 1 and SDG 10 given their strategic importance for the implementation of the other goals;
2022/09/08
Committee: DEVE
Amendment 1 #

2022/2002(INI)

Motion for a resolution
Citation 1 a (new)
— having regard to the Commission staff working document of 18 November 2020 on ‘Delivering on the UN’s Sustainable Development Goals – A comprehensive approach’ (SWD(2020) 400final ),
2022/04/06
Committee: DEVEENVI
Amendment 4 #

2022/2002(INI)

Motion for a resolution
Citation 1 b (new)
— having regard to the Joint Communication of the Commission and the High Representative of the Union for Foreign Affairs and Security Policy of 17 February 2021 to the European Parliament and the Council on strengthening the EU’s contribution to rules-based multilateralism (JOIN(2021) 3 final),
2022/04/06
Committee: DEVEENVI
Amendment 5 #

2022/2002(INI)

Motion for a resolution
Citation 1 c (new)
— having regard to the joint statement by the Council and the representatives of the governments of the Member States meeting within the Council, Parliament and the Commission of 30 June 2017 on the New European Consensus on Development – ‘Our world, our dignity, our future’,
2022/04/06
Committee: DEVEENVI
Amendment 6 #

2022/2002(INI)

Motion for a resolution
Citation 1 d (new)
— having regard to the Commission staff working document of 28 January 2019 ‘EU Report on Policy Coherence for Development’ (SWD(2019) 20 final)
2022/04/06
Committee: DEVEENVI
Amendment 18 #

2022/2002(INI)

Motion for a resolution
Citation 7 a (new)
— having regard to the UN Secretary-General Report “Our Common Agenda” presented to the UN General Assembly and mandated by the Resolution approved on 15 November 2021,
2022/04/06
Committee: DEVEENVI
Amendment 50 #

2022/2002(INI)

Motion for a resolution
Recital A
A. whereas there will be no climate justice without environmentally, socially and economically sustainable and inclusive development; whereas achieving the SDGs is therefore an essential prerequisite to achieving a just transition under the Paris Agreement and the European Green Deal;
2022/04/06
Committee: DEVEENVI
Amendment 54 #

2022/2002(INI)

Motion for a resolution
Recital A a (new)
Aa. whereas Policy Coherence for Sustainable Development (PCSD) is an approach to integrate the various dimensions of sustainable development holistically at all stages of policy-making, in order to foster synergies across policy areas and identify potential trade-offs and reconcile policy objectives, as well as address the spillover effects of domestic policies;
2022/04/06
Committee: DEVEENVI
Amendment 56 #

2022/2002(INI)

Motion for a resolution
Recital A b (new)
Ab. whereas the European Commission, in its Staff Working Document of 18 November 2021 entitled ‘Delivering on the UN’s Sustainable Development Goals – A comprehensive approach’ committed to taking a ‘whole of government’ approach to SDG implementation, coordinated by President von der Leyen; whereas a ‘whole of government’ approach would urgently need more coherent action across Commission services;
2022/04/06
Committee: DEVEENVI
Amendment 61 #

2022/2002(INI)

Motion for a resolution
Recital B
B. whereas the impact of the COVID- 19 pandemic is not yet fully known, but has already led to a significant degree of SDG backsliding in Europe but especially also in the countries of the Global South with weak health systems and where vaccination rates remain very low;
2022/04/06
Committee: DEVEENVI
Amendment 71 #

2022/2002(INI)

Motion for a resolution
Recital B a (new)
Ba. whereas the new geopolitical realities imposed by the war in Ukraine have a huge impact on the global achievement of the SDGs and impedes their realisation by 2030, leading to a great humanitarian and economic crisis;
2022/04/06
Committee: DEVEENVI
Amendment 75 #

2022/2002(INI)

Motion for a resolution
Recital B b (new)
Bb. whereas the gap between the richest and poorest people and countries is continuously rising and reducing inequalities (SDG 10) has strategic importance and should be at the core of the common efforts to achieve the Agenda 2030;
2022/04/06
Committee: DEVEENVI
Amendment 120 #

2022/2002(INI)

Motion for a resolution
Paragraph 1
1. Reaffirms its commitment to the 2030 Agenda and the 17 SDGs, its 17 SDGs and the pledge to leave no one behind; stresses that, in the light of the current and possible future pandemics, the SDGs2030 Agenda provides a unique pathway to both ensure a human- centred recovery that would leave no one behind and build back better a more equitable, just, inclusive, sustainable and resilient world;
2022/04/06
Committee: DEVEENVI
Amendment 128 #

2022/2002(INI)

Motion for a resolution
Paragraph 1 a (new)
1a. Strongly opposes to any form of armed conflict and violence against civilians and reiterates its strong commitment to lasting peace and security; calls for a fast and peaceful solution in the raging war in Ukraine;
2022/04/06
Committee: DEVEENVI
Amendment 129 #

2022/2002(INI)

Motion for a resolution
Paragraph 1 b (new)
1b. Considers that the consequences of the Covid-19 pandemic as well as the aftermath of the war in Ukraine will require adaptation and concrete revisions of international, national and regional implementation strategies to make the SDGs achievable by 2030;
2022/04/06
Committee: DEVEENVI
Amendment 132 #

2022/2002(INI)

Motion for a resolution
Paragraph 1 c (new)
1c. Recalls that only eight years are left to achieve the 2030 Agenda targets for Sustainable Development and that the 2020s have been declared the UN Decade of Action on Sustainable Development;
2022/04/06
Committee: DEVEENVI
Amendment 150 #

2022/2002(INI)

Motion for a resolution
Paragraph 2 a (new)
2a. Notes that the principle of leaving no one behind must be respected operationally in the implementation of all SDGs by focusing on issues of equality and non-discrimination and addressing the root causes of these issues, with particular attention being paid to those who are most marginalised and disenfranchised;
2022/04/06
Committee: DEVEENVI
Amendment 156 #

2022/2002(INI)

Motion for a resolution
Paragraph 3
3. Reiterates that to achieve the SDGs, the 2030 Agenda requires a strong level of societal legitimacy and a genuine political reset; emphasises the immense value of civil society organisations in this regard and calls for stronger engagement with and consultation of them, as they are watchdogs of the SDGs' implementation by governments but are also direct contributors to sustainable development, providing services to and serving the most marginalised and underserved communities; deeply regrets that the mandate of the multi-stakeholder platform was not renewed in 2019 and calls for its urgent reinstatement;
2022/04/06
Committee: DEVEENVI
Amendment 164 #

2022/2002(INI)

Motion for a resolution
Paragraph 3 a (new)
3a. Considers that the implementation of the 17 goals and 169 targets requires coordination between the EU and its Member States, the European Parliament, national parliaments and regional and local authorities, as well as a multi-level governance approach, also based on active and broad-based public, civil society and private sector engagement;
2022/04/06
Committee: DEVEENVI
Amendment 165 #

2022/2002(INI)

Motion for a resolution
Paragraph 3 b (new)
3b. Recognises that a lack of accountability, transparency and good governance have a strong negative impact on the implementation of the 2030 Agenda in both developed and developing countries and stresses the need to promote anti-corruption and integrity to accelerate the implementation of the SDGs and to consistently monitor progress;
2022/04/06
Committee: DEVEENVI
Amendment 173 #

2022/2002(INI)

Motion for a resolution
Paragraph 4
4. Regrets the fact that efforts to mainstream the SDGs across EU internal and external policies have not matured beyond a mapping exercise; recalls that many EU internal policies not only contribute to the implementation of the SDGs, but also have a very high ecological, social and economic spillover impact on developing countries;
2022/04/06
Committee: DEVEENVI
Amendment 187 #

2022/2002(INI)

Motion for a resolution
Paragraph 6
6. Calls for the Commission to adopt a new, high-level EU SDG2030 Agenda implementation strategy, building on EU resolutions and policy directives aiming at achieving the SDGs, given that there are only eight years left to achieve the 2030 Agenda and, hence, urgent implementation is required in line with the Decade of Action to deliver the Global Goals;
2022/04/06
Committee: DEVEENVI
Amendment 198 #

2022/2002(INI)

Motion for a resolution
Paragraph 7
7. Is of the view that the adoption of the new comprehensive implementation strategy should be preceded by a broad, inclusive and meaningful public participatory consultation process, supported by a structured and meaningful civil society dialogue;
2022/04/06
Committee: DEVEENVI
Amendment 215 #

2022/2002(INI)

Motion for a resolution
Paragraph 8
8. Asserts that identifying the EU’s added value in SDG implementation can only be achieved through filling existing data gaps including the lack of disaggregated data to better understand the EU’s true impact on SDG progress in the EU and globally;
2022/04/06
Committee: DEVEENVI
Amendment 227 #

2022/2002(INI)

Motion for a resolution
Paragraph 10
10. Stresses that a minimum level of data timeliness and statistical disaggregation aligned to the global SDG monitoring framework in relation to the SDGs in the EU should be established, covering, where appropriate, geographic location, sexgender, income, age, race, ethnicity, migratory status, disability and other characteristics, and taking into account the principles of the human rights-based approach to data; welcomes the initiative of the Commission to establish markers to measure inequality in that regard;
2022/04/06
Committee: DEVEENVI
Amendment 239 #

2022/2002(INI)

Motion for a resolution
Paragraph 11
11. Recalls that voluntary national reviews are the key accountability tool in the 2030 Agenda; encourages EU Member States to participate in the voluntary national reviews and to meaningfully take into consideration and implement the recommendations made at this occasion; calls for the EU to present an annual EU voluntary review at each High-level Political Forum on Sustainable Development (HLPF);
2022/04/06
Committee: DEVEENVI
Amendment 247 #

2022/2002(INI)

Motion for a resolution
Paragraph 12
12. Recognises the importance of voluntary local reviews and voluntary subnational reviews for the implementation of the SDGs; calls on the Commission to present an inclusive EU voluntary regional review ahead of the 2023 SDG Summit, and every four years thereafter; calls on consultation and information of the European Parliament as to the EU voluntary review before that Summit; highlights that a reinstated multi- stakeholder platform for the implementation of the SDGs could help prepare the EU’s voluntary review;
2022/04/06
Committee: DEVEENVI
Amendment 273 #

2022/2002(INI)

Motion for a resolution
Paragraph 15
15. Welcomes the Commission’s Official development assistance (ODA) expenditure targets in relation to specific SDG goals and its efforts to track EU budget expenditure on climate, biodiversity, clean air, migration and gender equality10 ; regrets, however, that no progress has been made to track SGDs- related resources and expenditure in its entirety; and with due consideration of the SDGs at the target level, especially with reference to inequalities (SDG 10) and their strategic importance for the implementation of all SDGs; calls on the EU to reach its target of at least 20% of ODA allocated to human development as an essential tool to achieve the SDGs; _________________ 10 Policy Department for Budgetary Affairs, Directorate-General for Internal Policies, for the Committee on Budgetary Control, 'Budgetary control of the Sustainable Development Goals in the EU budget – What measures are in place to ensure effective implementation?', 2021.
2022/04/06
Committee: DEVEENVI
Amendment 284 #

2022/2002(INI)

Motion for a resolution
Paragraph 16
16. Welcomes efforts made to integrate the SDGs into the European Semester; calls on the Commission to present a reform proposal for the existing European Semester process, which is not as such adapted to be a ‘European process for SDG policy coordination’, as indicated in scenario 1 of the Commission’s reflection paper entitled ‘A Sustainable Europe by 2030’; considers that such a reform should ensure that European SDG policy coordination does not lead to a policy process parallel to the European Semester, but instead consists of an integrated and coherent approach based on a new Sustainable Development Pact;
2022/04/06
Committee: DEVEENVI
Amendment 304 #

2022/2002(INI)

Motion for a resolution
Paragraph 20
20. Regrets that the EU still has nostill not adopted an overarching, dedicated plan to finance the SDGs; exhorts the Commission to urgently come up with such aa sustainable and innovative financing plan, bearing in mind the post- COVID-19 estimated annual SDG financing gap of EUR 4.2 trillion11 ; underlines that the absence of such a plan, with clearly defined, quantifiable targets, prohibits comprehensive SDG expenditure tracking under the EU budget; in the absence of such plan, encourages the Commission to ensure that all its policies, programmes and actions are aligned with global efforts to achieve the SDGs and accelerate the 2030 Agenda, inside and outside the EU; _________________ 11 OECD, 'Global Outlook on Financing for Sustainable Development 2021 – A New Way to Invest for People and Planet', Paris, 2020.
2022/04/06
Committee: DEVEENVI
Amendment 308 #

2022/2002(INI)

Motion for a resolution
Paragraph 20 a (new)
20a. Is alarmed by the fact that LCDs were already unable to finance the implementation of the SDGs before the Covid-19 pandemic and the war in Ukraine and are now even more in need of financial support; strongly calls for debt relief measures;
2022/04/06
Committee: DEVEENVI
Amendment 312 #

2022/2002(INI)

Motion for a resolution
Paragraph 21
21. Welcomes ongoing efforts to enhance the European financial architecture for development, as outlined in the Council conclusions of 14 June 2021; calls on the Commission to develop a common framework and guidance on holistic sustainability proofing of Union funding, following the Team Europe approach to ensure both effectiveness and efficiency in European Development Policies; calls for capitalising on the Team Europe approach to ensure close coordination in achieving the 2030 Agenda between the EU and its Member States;
2022/04/06
Committee: DEVEENVI
Amendment 343 #

2022/2002(INI)

Motion for a resolution
Paragraph 23
23. Stresses the fact that Europe faces its greatest SDG challenges in the areas of sustainable diets and agriculture, climate and biodiversity (SDGs 2, 12, 13, 14 and 15); calls on the Commission to develop a robust comparative analysis of SDG 6 (clean water and sanitation) and SDG 14 (life below water), as trends cannot be calculated due to insufficient comparable data over the past five years;deleted
2022/04/06
Committee: DEVEENVI
Amendment 352 #

2022/2002(INI)

Motion for a resolution
Paragraph 23 a (new)
23a. Highlights the importance of the implementation of the 2030 Agenda for achieving positive spill-over effects especially in the Global South and enter a virtuous circle in international partnerships; underlines the significance of the external dimension as the EU only stands for 19% of the global economic performance and 5,6% of world population with both shares shrinking; points out that achieving SDG 10 is the strategic lever that empowers our partners to set themselves on the path to sustainable development;
2022/04/06
Committee: DEVEENVI
Amendment 31 #

2022/0196(COD)

Proposal for a regulation
Recital 11 a (new)
(11 a) Relations between the European Union and developing countries, most notably in Africa, cover partnerships on green transition. As noted in the EU Biodiversity Strategy for 2030, the protection of biodiversity is an indispensable part of the fight against environmental degradation, habitat fragmentation and loss of natural environments and, as consequence, of prevention of environmental hazards, contributing amongst others to health threats, such as zoonoses. The One Health approach, that reinforces the United Nations 2030 Agenda for Sustainable Development, includes the nexus between biodiversity and health. While chemical pesticides have detrimental effects on biodiversity, habitats, ecosystems and the food-chain and therefore on public health, including through the spread of infections from animal reservoirs, biological control agents are an effective alternative without destructive effects. It is therefore appropriate to support partner countries in integrated pest management innovations and in the availability, accessibility and affordability of integrated pest management solutions, focusing in particular on smallholder farmers. The Commission and the Member States should support research programmes targeting integrated pest management innovations and provide technical and financial support for the implementation of integrated pest control in developing countries.
2023/04/04
Committee: DEVE
Amendment 46 #

2022/0196(COD)

Proposal for a regulation
Article 12 – paragraph 2 a (new)
2 a. The Commission shall support the implementation of integrated pest management in developing countries, through provision of technical and financial assistance and strengthen research in the fields of agroecology, organic farming and integrated pest management, in particular with a view to protecting biodiversity and in line with the One Health approach.
2023/04/04
Committee: DEVE
Amendment 51 #

2022/0196(COD)

Proposal for a regulation
Chapter VI a (new)
VI a Trade and cooperation with third countries. Article 1 - Import of agricultural and agri-food products from third countries 1.The import of agricultural and agri- food products from third countries is prohibited if they have been treated or produced with substances that do not meet the approval criteria set out in points 3.6.2 to 3.6.5, 3.7 and 3.8.2 of Annex II of Regulation 1107/2009 of the European Parliament and of the Council concerning the placing of plant protection products on the market. 2.The production, storage and export from the European Union of banned active substance and plant protection products not approved by Regulation (EC) No 1107/2009 of the European Parliament and of the Council of 21 October 2009 concerning the placing on the market of products phytopharmaceuticals or not complying with the identification and traceability requirements imposed by this same regulation is prohibited. Article 2 - International cooperation on information on the use of plant protection products 1.The Commission shall start a dialogue with third countries to set up partnerships and cooperation mechanisms to strengthen the collection and transparency of data on the use of plant protection products in third countries and to allow the exchange of information between those countries on the one hand, and the Commission and the Member States on the other. 2.These partnerships and cooperation mechanisms may include structured dialogues, support programs and measures, and administrative procedures.They shall aim to promote the reduction in the use of plant protection products in third countries and a transition towards non-chemical alternatives to pesticides and integrated pest management practices. 3.The Commission shall encourage third countries to set up public databases containing precise information on the use of plant protection products. 4. The Commission shall encourage third countries to require producers, suppliers, distributors, importers and exporters to keep registers of the plant protection products they produce, import, export, store or place on the market for at least five years. In addition, third countries shall be encouraged to require professional users of plant protection products, to keep for at least three years a record of each use of such as product, containing the name of the plant protection product, the time and the dose of application, the area and the crop treated. The information contained in these registers shall be available to be communicated on request to the competent authorities of third countries as well as to interested third parties, such as the drinking water industry, retailers or residents.
2023/04/04
Committee: DEVE
Amendment 9 #

2021/2252(INI)

Motion for a resolution
Recital A
A. whereas the COVID-19 pandemic has deepened the already significant SDG financing gap and caused an overall decline in resources of USD 700 billion, and, at the same time, an increase in needs of USD 1 trillion, causing a scissor effect, so that the pre-pandemic SDG annual funding gap in developing countries of USD 2.5 trillion is expected to increase by 70 % post-COVID-19, to USD 4.2 trillion (EUR 3.7 trillion)6 ; _________________ 6 OECD report of 10 December 2020 entitled ‘Global Outlook on Financing for Sustainable Development 2021: A New Way to Invest for People and Planet’.
2022/05/05
Committee: DEVE
Amendment 11 #

2021/2252(INI)

Motion for a resolution
Recital A a (new)
A a. whereas the entry into force of the Neighbourhood, Development and International Cooperation Instrument (NDICI) – Global Europe, with an overall budget of EUR 79,5 billion, constitutes a historic change in EU external and development policies, leading to the rationalisation and consolidation of EU development spending, and giving new impetus to greater cooperation between European development actors;
2022/05/05
Committee: DEVE
Amendment 15 #

2021/2252(INI)

Motion for a resolution
Recital B
B. whereas leadership and efforts from the EU alone to achieve achieving the SDGs and the goals of the Paris Agreement and addressing other acute global challenges arequires not sufficient, and hence joint engagement at international level is required;
2022/05/05
Committee: DEVE
Amendment 17 #

2021/2252(INI)

Motion for a resolution
Recital B a (new)
B a. whereas climate change, the consequences of Covid-19 and violent conflicts are sources of further crises and call for a reinforced European answer, both politically and financially, in the area of development policy in order to ensure that the EFAD is able to channel these emerging challenges;
2022/05/05
Committee: DEVE
Amendment 18 #

2021/2252(INI)

Motion for a resolution
Recital B b (new)
B b. whereas, also in view of the sustainable development of the global south, it is of prime importance that world energy flows are reorganised in the future and that the African continent plays an important role; whereas strengthening its role with regard to sustainable energy production, use and exports provides the chance for future-oriented and sustainable economic development and could improve the living conditions for the broad majority of the population;
2022/05/05
Committee: DEVE
Amendment 19 #

2021/2252(INI)

Motion for a resolution
Recital C
C. whereas policy coherence and close cooperation between all official development finance institutions, their government shareholders and all existing partners is urgently needed; whereas the successful mobilisation of further capital, both private and public, in addition to official development assistance (ODA) and other existing forms of development finance, is critical, but needs to be aligned with development policy objectives especially in view of reducing inequalities and poverty reduction as the first goal of the Agenda 2030;
2022/05/05
Committee: DEVE
Amendment 20 #

2021/2252(INI)

Motion for a resolution
Recital C
C. whereas, for the actual achievement of the SDGs and overcoming the COVID-19 pandemic, policy coherence and close cooperation between all official development finance institutions, their government shareholders and all existing partners is urgently needed to ensure that scarce public money is used in the most effective and efficient way; whereas the successful mobilisation of further capital, both private and public, in addition to official development assistance (ODA) and other existing forms of development finance, is critical;
2022/05/05
Committee: DEVE
Amendment 24 #

2021/2252(INI)

Motion for a resolution
Recital C a (new)
C a. whereas the EU Institutions and the 27 EU Member States together constitute the largest donor for developing countries, responsible for approximately 46% of the total ODA provided by all OECD ODA members to developing countries; whereas the major shortfall in SDG financing and the consequences of the COVID-19 pandemic, which has been devastating across the developing world, demands an extraordinary sustained response from all EU actors and a system- wide review of the European Financial Architecture for Development (EFAD);
2022/05/05
Committee: DEVE
Amendment 38 #

2021/2252(INI)

Motion for a resolution
Subheading 1 b (new)
Insists that all implementing partners who are part of the EFAD and access EU budget funds under the EFSD+ apply the full range of EU social, human rights, procurement, transparency, and environment standards, policies and procedures; calls on the European Commission to assess, monitor and report back on the adherence to these EU rules;
2022/05/05
Committee: DEVE
Amendment 40 #

2021/2252(INI)

Motion for a resolution
Paragraph 1
1. Stresses that the policy-first-driven European financial architecture for development (EFAD) should be guided by the principles and objectives set out in the UN 2030 Agenda for Sustainable Development, the Paris Agreement and the Addis Ababa Action Agenda and that it contributes to achieving the SDGs;
2022/05/05
Committee: DEVE
Amendment 44 #

2021/2252(INI)

Motion for a resolution
Paragraph 1 a (new)
1 a. Recalls that the EU’s political engagement should be embodied in its multiannual financial framework and fully reflected in its European Financial Architecture for Development;
2022/05/05
Committee: DEVE
Amendment 50 #

2021/2252(INI)

Motion for a resolution
Paragraph 2
2. sStrongly insists that EFAD must strengthen the strategic partnerships between the European Union and its global development partners; reiterates that such partnerships should always be based on mutual respect and dignity, shared interests and values, values and development objectives, namely reducing inequalities and poverty reduction;
2022/05/05
Committee: DEVE
Amendment 58 #

2021/2252(INI)

Motion for a resolution
Paragraph 3
3. Underlines the interconnection between humanitarian aid, development and securitypeace; highlights the role that development plays in preventing conflicts, ensuring durable exits from conflicts and bolstering crisis management; insists on the importance of further developing a well- tailored development-security nexusnexus to address protracted and predictable crises, leading to a people- centred, structural, and sustainable long- term recovery;
2022/05/05
Committee: DEVE
Amendment 74 #

2021/2252(INI)

Motion for a resolution
Paragraph 5
5. Underlines that consistency and policy coherence across all EU financing instruments, initiatives and strategies is crucial in order to maximise the EU’s global response to sustainable growth, development and peace;
2022/05/05
Committee: DEVE
Amendment 76 #

2021/2252(INI)

Motion for a resolution
Paragraph 5 a (new)
5 a. Highlights that the gap between the richest and poorest people and countries is continuously increasing, while reducing inequalities has strategic importance and should be at the core of the common efforts in the framework of the EFAD;
2022/05/05
Committee: DEVE
Amendment 87 #

2021/2252(INI)

Motion for a resolution
Paragraph 6 a (new)
6 a. Considers, furthermore, that the new geopolitical realities imposed by the war in Ukraine lead to a great humanitarian and economic crisis and have a huge negative impact on global development policies;
2022/05/05
Committee: DEVE
Amendment 98 #

2021/2252(INI)

Motion for a resolution
Paragraph 9
9. Is concerned that key features of the Policy Coherence for Sustainable Development (PCSD) principle are systematically missing in regulatory initiatives of the EU; insists that mechanisms for ensuring policy coherence for sustainable development must be enshrined in EFAD and used more systematically and efficiently by all relevant EU institutions and all Member States, including at the highest political level;
2022/05/05
Committee: DEVE
Amendment 99 #

2021/2252(INI)

Motion for a resolution
Paragraph 9
9. Insists that mechanisms for ensuring policy coherence for sustainable development must be enshrined in EFAD by ensuring more ex-ante impact assessments and the establishment of an early warning system of policy incoherencies at the EU Delegations and used more systematically and efficiently by all relevant EU institutions and all Member States, including at the highest political level;
2022/05/05
Committee: DEVE
Amendment 107 #

2021/2252(INI)

Motion for a resolution
Paragraph 11
11. Believes that the Team Europe approach should play a key role in further improving strategic cooperation and global coordination and the coherence and effectiveness of development efforts, especially at partner-country level, and believes that it has the potential to further identify key issues that need to be solved under EFSD+/Global Europe; further insists on the appropriate implementation of the scrutiny mechanism for the European Parliament to allow for the democratic legitimacy of Team Europe activities;
2022/05/05
Committee: DEVE
Amendment 116 #

2021/2252(INI)

12. Calls on the Commission to put forward a powerful EU policy directiondevelopment policies and to further align the EU development financial institutions’ activities within the new open architecture; is of the opinion that the programming process must fully cover the use of EU budgetary guarante under NIDICI- Global Europe objectives;
2022/05/05
Committee: DEVE
Amendment 119 #

2021/2252(INI)

Motion for a resolution
Paragraph 13
13. Calls on the Commission to ensure that EFAD pursues the goal of restoring the multilateral development finance system in order to help put an end to the unsustainable lending practices of some countries operating outside that system; highlights that LDCs are unable to implement the SDGs without financial support and therefore strongly calls for debt relief measures in line with sustainability commitments;
2022/05/05
Committee: DEVE
Amendment 121 #

2021/2252(INI)

Motion for a resolution
Paragraph 13 a (new)
13 a. Calls on the Commission to promote international cooperation in tax matters to fight against tax evasion, illicit financial flows and corruption in order to foster purposeful and sustainable development financing that contributes to reducing inequalities and poverty;
2022/05/05
Committee: DEVE
Amendment 125 #

2021/2252(INI)

Motion for a resolution
Paragraph 14
14. cConsiders EU taxonomy to be an important tool for achieving the SDGs and the objectives of the Paris Agrethe European Green Deal and its taxonomy for sustainable activities regarding renewable energy sources to be an important tool for achieving the SDGs related to climate change and the environment (e.g. 13, 6 and 14, 12) and the objectives of the Paris Agreement, since it should contribute to the reorientation of capital flows towards sustainable investments and introduce sustainability among the criteria to be taken into account for risk management;
2022/05/05
Committee: DEVE
Amendment 134 #

2021/2252(INI)

Motion for a resolution
Paragraph 14 a (new)
14 a. Welcomes that EFAD is based on the expertise and existing networks of all its different members (i.e. the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), European Development Finance Institutions (EDFI)) and calls for the further development of their coordination and cooperation, also taking into consideration the Council’s conclusions on EFAD;
2022/05/05
Committee: DEVE
Amendment 138 #

2021/2252(INI)

Motion for a resolution
Paragraph 15
15. rReaffirms the European Investment Bank’s specific role within the EU and globally, which is set out in Article 209 of the Treaty on the Functioning of the European Union and in Article 36 of the ‘Neighbourhood, Development and International Cooperation Instrument – Global Europe’ – as the EU’s financial arm with a global reach;
2022/05/05
Committee: DEVE
Amendment 142 #

2021/2252(INI)

Motion for a resolution
Paragraph 16
16. Recognises the EIB’s flagshipimportant role in the implementation of the European Green Deal and its substantial contribution to the EU’s economic response to the COVID-19 pandemic; calls for the EU to further maximiseexploit the potential of the EIB as a tool to leverage the EU’s strategic autonomy and promote its external and development policy interests and priorities in its relations with non-EU countries;
2022/05/05
Committee: DEVE
Amendment 145 #

2021/2252(INI)

Motion for a resolution
Paragraph 17
17. Welcomes the setting-up of EIB Global, a dedicated development branch within the EIB Group, which has been operational since 1 January 2022; calls for more clarity on budget provisions, organisational functioning and specific goals of the branch as well as its coordination mechanisms with other financial development institutions;
2022/05/05
Committee: DEVE
Amendment 149 #

2021/2252(INI)

Motion for a resolution
Paragraph 18
18. Encourages the EIB to continue to actively engagplay its role in developing planning, monitoring and evaluation at country level, hand in hand with the EUclosely cooperating with the EU institutions and delegations and through co-financing with development finance institutions;
2022/05/05
Committee: DEVE
Amendment 158 #

2021/2252(INI)

Motion for a resolution
Paragraph 20
20. Encourages the EIB, the European Bank for Reconstruction and Development and the European development banks and financial institutions to strengthen their cooperation in the framework of NDICI- Global Europe and its objectives, as well as in globally achieving the Goals of the Agenda 2030;
2022/05/05
Committee: DEVE
Amendment 162 #

2021/2252(INI)

Motion for a resolution
Paragraph 21
21. Calls on the EIB to work more closely with the African Development Bank and establish a joint subsidiary to finance long-term investments that foster sustainable development and develop further sustainable growth opportunities for the African continent;
2022/05/05
Committee: DEVE
Amendment 164 #

2021/2252(INI)

Motion for a resolution
Paragraph 21 a (new)
21 a. Encourages the creation of project and advisory hubs, jointly operated by EIB and ADB, to create effective contact points for advice and project initiation for local actors and to better match the development needs on the ground as well as improve local ownership for common development projects;
2022/05/05
Committee: DEVE
Amendment 167 #

2021/2252(INI)

Motion for a resolution
Paragraph 23
23. Encourages sustained engagement by all development banks and institutions, and a more flexible approach to risk and to make sustainable commitments and bold investments in line with development policy objectives, in particular the reduction of inequalities and the eradication of poverty, rather than in terms of return on investment;
2022/05/05
Committee: DEVE
Amendment 173 #

2021/2252(INI)

Motion for a resolution
Paragraph 24
24. Recognises the importance and potential of Member State development banks within the EFAD structure; stresses the pressing need to boosimportant role that private sector development in sub-Saharan Africa can play for empowering partner countries to set themselves on a path to sustainable development;
2022/05/05
Committee: DEVE
Amendment 177 #

2021/2252(INI)

Motion for a resolution
Paragraph 25
25. Calls on the Commission to report annually on Team Europe initiatives based on quantitative and qualitative indicators within the framework of NDICI- Global Europe, its parliamentary scrutiny mechanisms and in relation to the achievement of the Agenda 2030;
2022/05/05
Committee: DEVE
Amendment 179 #

2021/2252(INI)

Motion for a resolution
Paragraph 26
26. Reiterates that institutional control and scrutiny of EU funding fosters democratic debate and helps to boost the credibility of the EU; calls for obligations ensuringand transparency of the EU; highlights the important role of the European Parliament in that regard; calls for appropriate visibility of the implementation of EFAD and calls on the Commission to take action where those obligatprovisions are not met;
2022/05/05
Committee: DEVE
Amendment 192 #

2021/2252(INI)

Motion for a resolution
Paragraph 27
27. iInsists that the Member States honour their commitment to spend 0.7 % of their gross national income on ODA; underlines the important role of ODA as a catalyst for change and a lever for the mobilisation of other resources; stresses the importance of the EU’s commitment to mobilise resources for climate action and the EIB’s role in making progress in this area;
2022/05/05
Committee: DEVE
Amendment 195 #

2021/2252(INI)

Motion for a resolution
Paragraph 27 b (new)
27 b. Recognises the role of local micro, small and medium-sized enterprises, cooperatives, inclusive business models and research institutes as engines of growth, employment and local innovation, which will in turn contribute to the achievement of the SDGs;
2022/05/05
Committee: DEVE
Amendment 200 #

2021/2252(INI)

Motion for a resolution
Paragraph 28
28. Takes note of the two-pillar solution for addressing the tax challenges arising from the digitalisation and globalisation of the economy, as agreed by the members of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting as the main tool adopted to implement wealth redistribution and to tackle the predominance of multinational enterprises, aiming at encouraging more equitable market conditions in developing countries;
2022/05/05
Committee: DEVE
Amendment 2 #

2021/2213(INI)

Motion for a resolution
Recital B
B. whereas the multiplication of crises such as the global consequences of the COVID-19 pandemic and the Russian war of aggression against Ukraine call for the forging of stronger alliances and more effective partnerships which deliver tangible results in order to better address emerging needs and global challenges by supporting early warning systems for a swift range of information and early actions in live-saving assistance;
2024/02/05
Committee: DEVE
Amendment 6 #

2021/2213(INI)

Motion for a resolution
Recital C
C. whereas the long-standing partnership between the EU and the ACP countries is of great importance given the number of countries it unites and the greater role it could play in the multilateral system, which is currently under strain; whereas this partnership agreement brings together more than half of the UN member states;
2024/02/05
Committee: DEVE
Amendment 7 #

2021/2213(INI)

Motion for a resolution
Recital D
D. whereas the EU and ACP countries must pursue a strengthened partnership between equals in order to generate mutually beneficial outcomes on common and intersecting interests and in a spirit of shared responsibility, solidarity, reciprocity, mutual respect and accountability;
2024/02/05
Committee: DEVE
Amendment 8 #

2021/2213(INI)

Motion for a resolution
Recital D
D. whereas the EU and ACP countries must pursue a strengthened partnership in order to generate mutually beneficial outcomes on common and intersecting interests and in a spirit of shared responsibility, co-creation, solidarity, reciprocity, mutual respect and accountability;
2024/02/05
Committee: DEVE
Amendment 19 #

2021/2213(INI)

Motion for a resolution
Paragraph 5
5. Reiterates the importance of the parliamentary dimension and the political dialogue as an integral part of the partnership;
2024/02/05
Committee: DEVE
Amendment 34 #

2021/2213(INI)

Motion for a resolution
Paragraph 11
11. Insists on the need to give greater prominence to the human and social development aspects of the agreement and the need to improve resources for humanitarian aid and to guarantee effective channels of access to its implementation;
2024/02/05
Committee: DEVE
Amendment 96 #

2021/2213(INI)

Motion for a resolution
Paragraph 28 a (new)
28 a. Stresses the importance of the parliamentary dimension in this agreement, as representatives of the civil society of four continents and aggregators of the diversity in a parliamentary assembly;
2024/02/05
Committee: DEVE
Amendment 98 #

2021/2213(INI)

Motion for a resolution
Paragraph 29
29. Welcomes the commitment to promote a multi-stakeholder approach, enabling the active engagement of a wide variety of actors, including parliaments, local authorities, civil society, especially women and young people, and the private sector; calls for this commitment to be rapidly translated into practice, which will necessitate the creation of an open and transparent mechanism for structured consultation in order to ensure the effective participation of stakeholders;
2024/02/05
Committee: DEVE
Amendment 102 #

2021/2213(INI)

Motion for a resolution
Paragraph 31
31. Welcomes the provisions on global alliances and international cooperation included in the new agreement, with commitments to the rules-based international order and to promoting international dialogue and seeking multilateral solutions to drive global action forward, promoting peace and development;
2024/02/05
Committee: DEVE
Amendment 1 #

2021/2209(INI)

Draft opinion
Paragraph -1 (new)
-1. Recalls that education is a fundamental human right and must be guaranteed. Emphasises that the principle of the best interest of the child must always be safeguarded; in this context, calls on the EU to put children' rights at the core of its efforts and policies to mitigate, at the global level, the effects of the COVID19 pandemic;
2022/01/21
Committee: DEVE
Amendment 6 #

2021/2209(INI)

Draft opinion
Paragraph 1
1. Notes that the lack of adequate national regulations and strategies, as well as the lack of trained professionals, of the necessary infrastructure, physical and IT, and of proper equipment and facilities, are barriers to the right of education and the access to quality education in several developing countries;
2022/01/21
Committee: DEVE
Amendment 15 #

2021/2209(INI)

Draft opinion
Paragraph 2 a (new)
2a. Takes note of the fact that the world’s population is projected to reach 9.7 billion in 2050 and 11.2 billion by 2100, with a particular population increase in developing countries and in Africa first and foremost; notes that the number of youth in the world is projected to grow to 1.3 billion by 2030 and that Central, Southern and Eastern Asia and sub-Saharan Africa are home to the largest number of youth; underlines that young people are the most valuable assets for boosting developing countries’ economic development;
2022/01/21
Committee: DEVE
Amendment 21 #

2021/2209(INI)

Draft opinion
Paragraph 3
3. Emphasises that the COVID-19 pandemic has amplified the existing vulnerabilities in social services in Africa and in many developing countries, in particular in the field of education; underlines that the cost of school closures on students’ learning, health and well- being has been devastating and that the repercussions on children, their family, their community and economies could last for years;
2022/01/21
Committee: DEVE
Amendment 29 #

2021/2209(INI)

Draft opinion
Paragraph 4
4. Acknowledges that education is a cross-cutting issue relevant to all dimensions of sustainable development; points out that education is also a tool to empower young people and to support sustainable economic growth in Africa and in all developing countries, and that in the long term, it indirectly paves the way to eradicating povertyand strongly contributes to eradicating poverty, and to closing the education gender gap and to reducing child marriage and child labour;
2022/01/21
Committee: DEVE
Amendment 36 #

2021/2209(INI)

Draft opinion
Paragraph 4 a (new)
4a. Stresses that the lack of access to education, and the resulting educational poverty, has both short and long-term consequences, leading both to higher drop-out rates and increased risks of labour and sexual exploitation, and, in the long term, to socio-economic consequences, increasing the risks of poverty and inequality, and undermining the achievement of the Sustainable Development Goals;
2022/01/21
Committee: DEVE
Amendment 39 #

2021/2209(INI)

Draft opinion
Paragraph 5
5. Underlines that access to quality education for all must be ensured regardless of socio-economic status, gender, cultural and geographical background, religion and the rural- urban divide; notes the particular importance of supporting girlsa gender equality based approach in accessing quality education and of addressing the issue of girls dropping out of school at an early stage; underlines that a special attention should be given to disadvantaged groups in order to guarantee the right to education for all, also through support for the most vulnerable families;
2022/01/21
Committee: DEVE
Amendment 46 #

2021/2209(INI)

Draft opinion
Paragraph 5 a (new)
5a. Underlines the importance of building resilience and disaster preparedness directly into health, social protection, WASH and education systems to ensure that people are more protected not only from pandemics but also from the effects of climate change and environmental degradation; improvements in the resilience of water, health and education have the potential to decrease climate risk for more than 400 million children;
2022/01/21
Committee: DEVE
Amendment 51 #

2021/2209(INI)

Draft opinion
Paragraph 5 b (new)
5b. Underlines that to date 17.7 million children lack access to basic vaccinations, an increase of 3.1 million due to the COVID-19 pandemic and its negative impact on progress that had been achieved; calls for an integrated and gender equality based approach between education and child immunization policies, which also takes into account the fact that, in some contexts, schools are essential in the distribution strategy for basic vaccines;
2022/01/21
Committee: DEVE
Amendment 53 #

2021/2209(INI)

Draft opinion
Paragraph 5 c (new)
5c. Underlines that the right to education is closely linked to the right of health and nutrition, given the fact that school nutrition programmes contribute to feeding millions of children;
2022/01/21
Committee: DEVE
Amendment 68 #

2021/2209(INI)

Draft opinion
Paragraph 7
7. Considers that in the context of the recovery from the COVID-19 pandemic, particular efforts must be undertaken to invest in well-trained teachers in order to equip children with skills which are relevant tofor the job marketir future;
2022/01/21
Committee: DEVE
Amendment 70 #

2021/2209(INI)

Draft opinion
Paragraph 7 a (new)
7a. Recalls that the right to connect is not yet a right within everyone's reach and that the lack of access to an Internet connection is, today more than ever, a major obstacle to learning for children;
2022/01/21
Committee: DEVE
Amendment 87 #

2021/2209(INI)

Draft opinion
Paragraph 9
9. Calls on the Commission to take the absorption capacities of partner countries into account in the context of increased funding for education; emphasises the need to engage with reliable local partners, particularly with local faith-based organisationcivil society and NGOs, in the implementation of education funding.
2022/01/21
Committee: DEVE
Amendment 3 #

2021/0297(COD)

Proposal for a regulation
Recital 6
(6) Those objectives remain relevant in the current global context and they are consistent with the analysis and perspective of the recent Commission Communication Trade Policy Review “An Open, Sustainable and Assertive Trade Policy”16 (‘TPR’). According to the TPR, the Union has a “strategic interest to support the enhanced integration into the world economy of vulnerable developing countries” and it “must fully use the strength provided by its openness and the attractiveness of its Single Market” to support multilateralism and to ensure adherence to universal values. For GSP specifically, the TPR notes its important role in “promoting respect for core human and labour rights” and sets the objective for the GSP “to further increase trading opportunities for developing countries to reduce poverty and create jobs based on international values and principles”. Moreover, the scheme should assist beneficiaries in recovering from the COVID-19 impact, reinforcing their capacity building and in re-building their economies in a sustainable manner, including with respect to international human rights, labour, environmental and good governance standards. Coherence should be ensured between the GSP and its objectives and the assistance provided to beneficiary countries, in line with Union’s Policy Coherence for Development (PCD), which constitutes a key pillar of Union’s efforts to enhance the positive impact and increase effectiveness of development cooperation17 . _________________ 16 COM(2021) 66 final, 18 February 2021 17Article 208 of the Treaty on the Functioning of the EU concerning PCD reads: “The Union shall take account of the objectives of development cooperation in the policies that it implements which are likely to affect developing countries”.
2022/01/07
Committee: DEVE
Amendment 5 #

2021/0297(COD)

Proposal for a regulation
Recital 9
(9) The standard GSP arrangement should be granted to all those developing countries which share a common development need and are in a similar stage of economic development and which have signed and ratified the international conventions of Annex VI. Countries should have a transitional period of 5 years from the date of entry into force of that decision to compliance with ratifications. There is no definition of ‘developing country’ at the level of the WTO, and it is left to preference granting countries to determine the list of GSP- eligible developing countries. Countries which have successfully completed their transition from centralised to market economies, and are today powerful economies with a strong position in international trade, such as China, Hong Kong, Macao and Russia, should not be considered as developing countries in the context of the GSP, and should, therefore, be removed from the list of eligible countries. Countries which are classified by the World Bank as high- income or upper-middle income countries have per capita income levels allowing them to attain higher levels of diversification without the scheme's tariff preferences. They are at a different stage of economic development and do not, therefore, share the same development, trade and financial needs as lower income or more vulnerable developing countries. In order to prevent unjustified discrimination, they need to be treated differently; therefore, they do not benefit from the standard GSP arrangement. Furthermore, the use of tariff preferences provided under the scheme by high-income or upper-middle income countries would increase the competitive pressure on exports from poorer, more vulnerable countries and, therefore, could impose unjustifiable burdens on those more vulnerable developing countries. The standard GSP arrangement should take account of the fact that the development, trade and financial needs are subject to change and ensure that the arrangement remains open if the situation of a country changes.
2022/01/07
Committee: DEVE
Amendment 8 #

2021/0297(COD)

Proposal for a regulation
Recital 11
(11) The special incentive arrangement for sustainable development and good governance (GSP+) is based on the integral concept of sustainable development, as recognised by international conventions and instruments such as the 1986 UN Declaration on the Right to Development, the 1992 Rio Declaration on Environment and Development, the 1998 International Labour Organisation (ILO) Declaration on Fundamental Principles and Rights at Work, the 2000 UN Millennium Declaration, the 2002 Johannesburg Declaration on Sustainable Development, the ILO Centenary Declaration for the Future of Work of 2019, the Outcome Document of the UN Summit on Sustainable Development of 2015 "Transforming Our World: the 2030 Agenda for Sustainable Development", the UN Guiding Principles on Business and Human Rights, and the Paris Agreement on Climate Change under the UN Framework Convention on Climate Change. Consequently, the additional tariff preferences provided for under the special incentive arrangement for sustainable development and good governance should be granted to those developing countries which, due to a lack of diversification, are economically vulnerable, have ratified, and are implementing, core international conventions on human and labour rights, climate and environmental protection and good governance, and commit to ensuring the effective implementation thereof. The special incentive arrangement for sustainable development and good governance should help those countries to assume the additional responsibilities resulting from the ratification and effective implementation of these conventions. The list of conventions relevant for GSP should be updated to better reflect the evolution of core international instruments and standards and take a proactive approach to sustainable development in keeping with the Sustainable Development Goals and Agenda 203018 . In this regard, the following conventions are added: the Paris Agreement on Climate Change (2015) – replacing the Kyoto Protocol; the Convention on the Rights of Persons with Disabilities (CRPD); the Optional Protocol to the Convention on the Rights of the Child on the Involvement of Children in Armed Conflict (OP-CRC-AC); ILO Convention No 81 on Labour Inspection; ILO Convention No 144 on Tripartite Consultation; and the UN Convention against Transnational Organized Crime. _________________ 18United Nations (2015). Resolution adopted by the General Assembly on 25 September 2015, Transforming our World: the Agenda 2030 for Sustainable Development (A/RES/70/1), available at: https://sustainabledevelopment.un.org/post 2015/transformingourworld
2022/01/07
Committee: DEVE
Amendment 15 #

2021/0297(COD)

Proposal for a regulation
Recital 17
(17) For the purposes of monitoring of implementation and, where applicable, withdrawal of tariff preferences, reports from relevant monitoring bodies are essential. However, such reports may be supplemented by other information available to the Commission, including information obtained under bilateral or multilateral technical assistance programmes, and through other sources of information, provided they are accurate and reliable. This could include information from the European Parliament and the Council, governments, international organisations, civil society, human rights organizations, social partners, or complaints received through the SEP provided they satisfy the relevant requirements. Shortcomings identified during the monitoring process may inform the Commission’s future programming of development assistance in a more targeted manner.
2022/01/07
Committee: DEVE
Amendment 16 #

2021/0297(COD)

Proposal for a regulation
Recital 18
(18) In July 2020, the Commission appointed the Chief Trade Enforcement Officer with the role of enforcing trade rules. In this connection, in November 2020, the Commission launched a new complaints mechanism, the Single Entry Point (‘SEP’), as part of its increased efforts to strengthen the enforcement and implementation of trade commitments. Through the SEP, the Commission receives complaints on various matters related to trade policy, including breaches of the GSP commitments. Such new system of complaints should be integrated within the framework of this Regulation and should be accessible to civil society organisations.
2022/01/07
Committee: DEVE
Amendment 22 #

2021/0297(COD)

Proposal for a regulation
Recital 26
(26) Orderly international migration can bring important benefits to the countries of origin and destination of migrants and contribute to their sustainable development needs. Increasing coherence between trade, development and migration policies is key to ensure that the benefits of migration accrue mutually to both the origin and destination countries. In this respect, it is essential for both origin and destination countries to address common challenges, such as, stepping up cooperation on readmission of own nationals and their sustainable reintegration in the country of origin, in particular in order to avoid a constant drain in active population in the countries of origin, with the ensuing long- term consequences on development, and to ensure that migrants are treated with dignity.deleted
2022/01/07
Committee: DEVE
Amendment 25 #

2021/0297(COD)

Proposal for a regulation
Recital 27
(27) Return, readmission and reintegration are a common challenge for the Union and its partners. In particular, every State has the obligation to readmit its own nationals under international customary law, and multilateral international conventions such as the Convention on International Civil Aviation signed in Chicago on 7 December 1944. Improving sustainable reintegration and capacity building would significantly strengthen the local development in the partner countries.deleted
2022/01/07
Committee: DEVE
Amendment 37 #

2021/0297(COD)

Proposal for a regulation
Article 4 – paragraph 1 – point b a (new)
(ba) it has not signed nor ratified any of the Convention listed in Annex VI; this shall apply after 5 years from the date of entry into force of that decision;
2022/01/07
Committee: DEVE
Amendment 45 #

2021/0297(COD)

Proposal for a regulation
Article 9 – paragraph 1 – point b
(b) it has ratified, and is implementing, all the conventions listed in Annex VI (the 'relevant conventions') and the Commission has not identified, based on available information, in particular the most recent available conclusions of the monitoring bodies under those conventions, a serious failure to effectively implement any of those conventions;
2022/01/07
Committee: DEVE
Amendment 53 #

2021/0297(COD)

Proposal for a regulation
Article 10 – paragraph 2
2. The requesting country shall submit its request to the Commission in writing. The request shall provide comprehensive information concerning the ratification and the implementation of the relevant conventions and shall include the binding undertakings referred to in Article 9, pointes (d), (e), and (f).
2022/01/07
Committee: DEVE
Amendment 58 #

2021/0297(COD)

Proposal for a regulation
Article 14 – paragraph 1
1. By 1 January 20276, and every threewo years thereafter, the Commission shall present to the European Parliament and to the Council a report on the status of ratification of the relevant conventions, the compliance of the GSP+ beneficiary countries with any reporting obligations under those conventions and the status of the effective implementation thereof.
2022/01/07
Committee: DEVE
Amendment 59 #

2021/0297(COD)

Proposal for a regulation
Article 14 – paragraph 2 – point b – paragraph 1
The report may include any information from any source the Commission considers appropriate, in particular in cooperation with civil society organizations.
2022/01/07
Committee: DEVE
Amendment 61 #

2021/0297(COD)

Proposal for a regulation
Article 14 – paragraph 3
3. In drawing their conclusions concerning effective implementation of the relevant conventions, the Commission and where appropriate the European External Action Service shall assess the conclusions and recommendations of the relevant monitoring bodies, as well as, without prejudice to other sources, information submitted by the European Parliament or the Council as well as third parties, including governments and international organisations, civil society, human rights organizations and social partners.
2022/01/07
Committee: DEVE
Amendment 76 #

2021/0297(COD)

Proposal for a regulation
Article 19 – paragraph 1 – point c
(c) serious shortcomings in customs controls on the export or transit of drugs (illicit substances or precursors), or related to the obligation to readmit the beneficiary country’s own nationals or serious failure to comply with international conventions on antiterrorism or anti-money laundering;
2022/01/07
Committee: DEVE
Amendment 90 #

2021/0297(COD)

Proposal for a regulation
Article 24 – paragraph 2
2. An investigation shall be initiated upon request by a Member State, by the European Parliament, by any legal person or any association not having legal personality, acting on behalf of Union producers, or on the Commission's own initiative if it is apparent to the Commission that there is sufficient prima facie evidence, as determined on the basis of factors referred to in Article 23, to justify such initiation. The request to initiate an investigation shall contain evidence that the conditions for imposing the safeguard measure set out in Article 22(1) are met. The request shall be submitted to the Commission. The Commission shall, as far as possible, examine the accuracy and adequacy of the evidence provided in the request, to determine whether there is sufficient prima facie evidence to justify the initiation of an investigation.
2022/01/07
Committee: DEVE
Amendment 8 #

2020/2260(INI)

Draft opinion
Paragraph 1
1. Urges a shift away from trade- oriented agricultural policies and towards support for food sovereignty and local and regional marketthe utmost prioritisation of support for food sovereignty, local and regional markets; calls for the support of local production and consumption that ensure local employment creation, assure fair prices, guarantee the protection of workers’ health and safety, lessen countries' dependency on imports and their vulnerability to international price fluctuations; recalls that agroecology’s capacity to reconcile the economic, environmental and social dimensions of sustainability has been widely recognised;
2021/02/25
Committee: DEVE
Amendment 14 #

2020/2260(INI)

Draft opinion
Paragraph 1 a (new)
1 a. Regrets that the global dimension of the Strategy does not include concrete proposals to realize the Right to Adequate Food, implement the UN Declaration on the Rights of Peasants and Other People Working in Rural Areas or address measures to globally improve the working conditions of farmworkers and the income of small-scale farmers that are part of international food supply chains, or ensure the precautionary principle is included for all food safety requirements; insists that the global dimension is further strengthened;
2021/02/25
Committee: DEVE
Amendment 18 #

2020/2260(INI)

Draft opinion
Paragraph 1 b (new)
1 b. Urges the Commission to provide support for developing countries to protect their sensitive and infant industries, promote food security, support climate change mitigation for agriculture, and meet EU and international sustainability standards for the export of their agricultural products; calls on the Commission to present a comprehensive impact assessment of the targets envisaged in the Strategy on developing countries;
2021/02/25
Committee: DEVE
Amendment 21 #

2020/2260(INI)

Draft opinion
Paragraph 1 c (new)
1 c. Highlights that current food systems are unable to provide the world's population with diversified and quality food in sufficient quantity and to cope with the climatic, social, health, and economic crises as confirmed by the COVID-19 pandemic; underlines that 3 billion people cannot afford healthy food and that 690 million people suffer from hunger; highlights that according to the UN's estimates, by the end of 2020, the COVID-19 pandemic might double the number of people facing severe hunger; regrets that food and nutrition security is not a priority in the Team Europe Initiatives whereas the EU and its Member States should strengthen their efforts to mitigate the food crisis emanating from the current pandemic;
2021/02/25
Committee: DEVE
Amendment 23 #

2020/2260(INI)

Draft opinion
Paragraph 1 d (new)
1 d. Emphasizes on EU's role as an enabler in the transformation of food systems so they can be more resilient, sustainable, and fair in and outside the EU and its role to tackle all forms of malnutrition in humanitarian, development, and any fragile contexts;
2021/02/25
Committee: DEVE
Amendment 33 #

2020/2260(INI)

Draft opinion
Paragraph 2
2. Insists that EU funding for agriculture must be in line with Agenda 2030 and coherent with the Paris Agreement on Climate Change and prioritise investments in agroecology, agroforestry and crop diversification; stresses the importance of preserving agricultural biodiversity, local animal and plant breeds and local varieties;
2021/02/25
Committee: DEVE
Amendment 46 #

2020/2260(INI)

Draft opinion
Paragraph 3
3. Regrets that increasing vertical and horizontal concentration in the agri-food sector reinforces the industrial food and farming model; believes that the Green New Deal requires the creation of a new anti-trust environment; stresses that all actors of the agri-food sector need to exercise due diligence over their supply chain, that is to set up responsible and effective practices regarding the environment, human rights and good governance (e.g. minimum age requirements and occupational safety);
2021/02/25
Committee: DEVE
Amendment 49 #

2020/2260(INI)

Draft opinion
Paragraph 3 a (new)
3 a. Welcomes the announcement of legislative initiatives in 2021-2022 to enhance cooperation of primary producers to support their position in the food chain; insists that the legislation not only covers EU based producers but also protects producers and farmers from developing countries who work with European companies;
2021/02/25
Committee: DEVE
Amendment 58 #

2020/2260(INI)

Draft opinion
Paragraph 4
4. Stresses that EU free trade agreements (FTAs), in particular the EU- Mercosur Agreement is in, must be consistent with the Green Deal and the Farm to Fork Strategy, in particular itsespecially on the reduction of EU’s dependence on animal feed, andd import of critical feed materials (e.g. soya grown on deforested land), the shift to a more plant- based diet and shorter supply chains;
2021/02/25
Committee: DEVE
Amendment 67 #

2020/2260(INI)

Draft opinion
Paragraph 5
5. Stresses that EU free trade agreements (FTAs) should not disrupt local agriculture, damage small producers or exacerbate dependency on food imports; recalls into question international trade rules which allow dumping through the WTO green boxthe principle of policy coherence for development to ensure European exports do not hinder the development of local and emerging productions; welcomes the Commission’s commitment to compliance of EU trade agreements with the Paris Agreement, and calls for market access in FTAs to be conditional on compliance with process and production methods criteria;
2021/02/25
Committee: DEVE
Amendment 75 #

2020/2260(INI)

Draft opinion
Paragraph 5 a (new)
5 a. Welcomes references to relevant UN processes in the Farm to Fork Strategy, and highlights that the global governance of food and agriculture should involve strong support to the Committee on World Food Security (CFS) and its Civil Society Mechanism (CSM); calls on the Commission to promote a global transition to sustainable food systems in all relevant international forums, including the UN Food Systems Summit 2021;
2021/02/25
Committee: DEVE
Amendment 14 #

2020/2137(INI)

Draft opinion
Paragraph 2 b (new)
2 b. Underlines that the impact of corporate short termism on EU business trading practices in third countries is unsustainable; notes the importance of promoting social sustainability in third countries; stresses that promoting sustainable corporate governance in trade policy has a positive impact on the supply chain, and towards achieving the Sustainable Development Goals, and the Paris agreement targets;
2020/09/24
Committee: INTA
Amendment 26 #

2020/2137(INI)

Draft opinion
Paragraph 2 c (new)
2 c. Stresses the importance of coherence between corporate governance structures of EU businesses and EU efforts in dialogue with third countries on responsible business conduct through Trade and Sustainable Development chapters in Free Trade Agreements; notes that a sustainable long-term holistic approach is needed
2020/09/24
Committee: INTA
Amendment 50 #

2020/2137(INI)

Draft opinion
Paragraph 5
5. Stresses that directors’ duties should encompass an obligation to develop, disclose and implement a corporate sustainability strategy for all aspects of the company’s operations, including its supply chains; based on international social, environmental and human rights standards; underlines that consultation with local communities is important;
2020/09/24
Committee: INTA
Amendment 68 #

2020/2137(INI)

Draft opinion
Paragraph 7
7. Notes that sustainable corporate governance cannot reach its full potential without due diligence legislation that requires companies to identify, prevent, mitigate and account for human rights abuses and environmental damage in their global value chains; underlines that sustainable corporate governance should not be limited by the present or lack of proper due diligence legislation; asks the Commission to add the sustainable corporate governance and corporate due diligence into the ongoing Trade Policy review.
2020/09/24
Committee: INTA
Amendment 1 #

2020/2129(INL)

Draft opinion
Recital A a (new)
Aa. whereas Articles 3 and 21 of the Treaty on European Union state that the Union, in its relations with the wider world, is to uphold and promote its values and principles, namely the rule of law and respect and protection of human rights, and contribute to the sustainable development of the Earth, solidarity, free and fair trade as well as to the strict observance and the development of international law. More specifically, the Union is to foster the sustainable economic, social and environmental development of developing countries with the primary aim of eradicating poverty. It is to respect those principles and pursue those objectives in the development and implementation of the external aspects of its other policies;
2020/10/09
Committee: DEVE
Amendment 3 #

2020/2129(INL)

Draft opinion
Recital A c (new)
Ac. whereas future legislation on corporate due diligence and corporate accountability for European enterprises would have extraterritorial effects. It would affect the social, economic and environmental development of developing countries and their prospects of achieving their sustainable development goals. This significant impact could contribute to or undermine the Union’s policy objective concerning development;
2020/10/09
Committee: DEVE
Amendment 11 #

2020/2129(INL)

Draft opinion
Paragraph 1
1. Acknowledges that there is sufficient strong evidence that shows that the voluntary efforts of Union companies to prevent and mitigate the negative impacts of their behaviour on developing countries have failed as violations of human rights of individuals, in particular worker’s rights, and of local communities are still taking place at the end of the supply chain; notes that the environment continues to suffer the adverse impact of abusive and unethical corporate behaviour which is very often facilitated and exacerbated by corporate corruption practices; is concerned by the impact of the COVID-19 crisis which has dramatically disrupted business and exposed major vulnerabilities in the economy and global supply chains linked to conditions of work and disaster preparedness as well as negatively impacted human rights, in particular workers’ rights; notes, furthermore, that the COVID-19 crisis had negative impact on the environment in partner countries, thereby affecting local populations; is extremely concerned about the severe consequences of those impacts on women;
2020/10/09
Committee: DEVE
Amendment 31 #

2020/2129(INL)

Draft opinion
Paragraph 2 a (new)
2a. Calls on the Commission to honour the principle of policy coherence for development, enshrined in Article 208 TFEU, in future legislation; stresses that it is important to minimise the possible contradictions and build synergies with development cooperation policy to the benefit of developing countries and to increase the effectiveness of development cooperation; considers that in practical terms, this means to actively involve DG DEVCO in the ongoing legislative work and to conduct a thorough assessment of the impact of the future legislation on developing countries from an economic, social, human rights and environmental perspective in line with the Better Regulation Guidelines1a and Tool 34 of the Better Regulation Toolbox1b; notes that the results of that assessment should inform the future legislative proposal; __________________ 1a SWD(2017)0350. 1bhttps://ec.europa.eu/info/files/better- regulation-toolbox-34_en.
2020/10/09
Committee: DEVE
Amendment 35 #

2020/2129(INL)

Draft opinion
Paragraph 3
3. Calls on the Commission to apply a human rights-based approach to the future legislation which shall be designed, implemented, monitored and evaluated respecting the core human rights principles of transparency and access to information, inclusion and non-discrimination with a special focus on the most vulnerable, participation and accountability; stresses that it should be guided by the overarching principle of “do not harm” as it is important to avoid unintended effects and that the legislation should be subjected to a meaningful and inclusive consultation process on the ground with the relevant stakeholders; highlights that process should be carried out in close cooperation with the Union delegations; stresses that the future legislation should be informed by a gender analysis and take into account the specific needs of women and girls;
2020/10/09
Committee: DEVE
Amendment 42 #

2020/2129(INL)

Draft opinion
Paragraph 3 a (new)
3a. Calls on the Commission to embrace a holistic approach that considers the risk of corruption together with the risks to human rights and the environment; notes that the impact of corporate corruption on human rights and environmental damage in developing countries is well documented and that new Union legislation must ensure that businesses do not have an adverse impact on the rule of law and good governance of a country, region or territory, which include, but are not limited to, non- compliance with UN Convention against Corruption, Section VII of the OECD Guidelines for Multinational Enterprises and the principles of the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions and situations of corruption and bribery where an undertaking exercises undue influence on, or channels undue pecuniary advantages to, public officials to obtain privileges or unfair favourable treatment in breach of law, and including situations in which an undertaking becomes improperly involved in local political activities, makes illegal campaign contributions or fails to comply with the applicable tax legislation;
2020/10/09
Committee: DEVE
Amendment 45 #

2020/2129(INL)

Draft opinion
Paragraph 4
4. Stresses that all human rights should be covered by the future legislation; considers that emphasis should be placed on workers and trade union rights, women, and, in particular, the rights to freedom of association, to collective bargaining and to a living wage; notes that the rights of women and vulnerable groups such as children orand indigenous people should also receive special attention; stresses that full alignment with existing legal obligations and standards at European and international level, such as UN Guiding Principles on Business and Human Rights, the OECD Guidelines for Multinational Enterprises, OECD Due Diligence Guidance For Responsible Business Conduct, relevant sector-specific OECD Due Diligence Guidance, and the ILO Tri-partite Declaration of Principles concerning Multinational Enterprises and Social Policy, should be sought; is of the opinion that the legislation should addressinclude all types of human rights abuses and not only the most serious ones;
2020/10/09
Committee: DEVE
Amendment 66 #

2020/2129(INL)

Draft opinion
Paragraph 6
6. Is of the opinion that the new legislation should apply to all sectors, to all types of enterprises, whether public or private, and of all size across the Union; considers that the focus should be placed on the riskson sectors that present heightened human rights risks, including mining, food and agriculture, oil and gas, textiles, garments, leather, and footwear; believes that such horizontal approach should be supplemented by more specific standards and guidance at sector level;
2020/10/09
Committee: DEVE
Amendment 76 #

2020/2129(INL)

Draft opinion
Paragraph 6 a (new)
6a. Stresses that due diligence strategies should be aligned with the Sustainable Development Goals, the Paris Agreement and Union policy objectives in the field of human rights and the environment, including the European Green Deal, and the international policy of the Union;
2020/10/09
Committee: DEVE
Amendment 77 #

2020/2129(INL)

Draft opinion
Paragraph 6 b (new)
6b. Strongly believes that climate change mitigation and adaptation, in line with the goal of the Paris Agreement to hold the increase in the global average temperature to 1.5 degrees Celsius above pre-industrial levels, must form part of businesses’ due diligence obligations under the new legislation; in addition, business enterprises should also address the climate change-related vulnerabilities of people impacted by their business operations;
2020/10/09
Committee: DEVE
Amendment 79 #

2020/2129(INL)

Draft opinion
Paragraph 7
7. Is of the opinion that the future legislation should establish mandatory and effective corporate due diligence processes covering companies’ activities and their business relationships, including their supply and subcontracting chains; stresses that it should ensure the full and active involvement in the due diligence processes of those affected such as the trade unions and worker’s representatives but also local communities in the developing countries; notes that those processes should be aligned with international, European and Union guidelines and standards; stresses that the legislation should oblige companies to adopt a due diligence policy duly articulated in a plan with clear objectives, concrete actions, expected results and indicators to measure progress; is of the opinion that there should be a clear obligation for companies and investors to identify and assess actual and potential risks, act upon the findings in order to cease and prevent negative impacts, track the implementation and the results and communicate how impacts have been addressed; notes that the plan should be adequately resourced and have a strong and inclusive monitoring mechanism; considers that companies should equip themselves with human rights, environmental and anti-corruption experts in order to guide the design and implementation of the policy and the plan as well as other possible related decisions; stresses that this type of expertise should also be part of the company’s management structures; believes that support measures should be foreseen for certain companies if needed;
2020/10/09
Committee: DEVE
Amendment 90 #

2020/2129(INL)

Draft opinion
Paragraph 7 a (new)
7a. Expects the future legislation to create duties for financial institutions through the clarification of investor’s duties as well as those of the company boards; stresses that the new legislation should also address the question of how to measure and report effectively;
2020/10/09
Committee: DEVE
Amendment 108 #

2020/2129(INL)

Draft opinion
Paragraph 10
10. Stresses that access to effective remedy is crucial; considers that the legislation should oblige companies to have an effective grievance mechanism that should be transparent, accessible, predictable, safe, trustworthy and accountable; notes that such mechanisms should be designed in consultation with workers and affected communities; considers, in addition, that such mechanismthey should provide for effective judicial remedies to victims of human rights violations, environmental damage and corruption abuses, individually and through collective actions; believes that special protection should be provided to human rights defenders and its lawyerstheir lawyers; considers that other non-judicial remedies should also be provided for; believes, in that regard, that the legislation should consider the possibility of setting up a Union grievance mechanism which could be managed by Union delegations and whereby victims and populations affected by abuses committed by the Union enterprises and their supply chains could file complaints; considers that that mechanism should be coordinated at a central level by the relevant Union institutions, bodies, offices and agencies and adequately resourced;
2020/10/09
Committee: DEVE
Amendment 117 #

2020/2129(INL)

Draft opinion
Paragraph 10 b (new)
10b. Stresses that local civil society remains a key partner in implementation and monitoring of the future legislation; notes, therefore, that the legislation should ensure that civil society mechanisms have a sustainable stream of resources and create transparent and structured channels for civil society to interact with corporate and government entities;
2020/10/09
Committee: DEVE
Amendment 121 #

2020/2129(INL)

Draft opinion
Paragraph 11
11. Is convinced that it is crucial to make the sustainable development chapters of free trade agreements morebinding and enforceable and that the new legislation should explore ways of integrating the due diligence requirements into those chapters.; believes that this would also help to avoid distortion of competition with companies based outside Europe; considers that economic partnership agreements that the Union signed with ACP countries could also be reinforced in a similar way;
2020/10/09
Committee: DEVE
Amendment 30 #

2020/2124(INI)

Draft opinion
Paragraph 3 a (new)
3 a. Expects the EIB to further develop its analytical and operational tools in order to support the UN 2030 sustainability agenda. Stresses the need to ex-ante as well as ex-post analyse the impact of our external co-operation in this respect.
2021/02/03
Committee: DEVE
Amendment 33 #

2020/2124(INI)

Draft opinion
Paragraph 3 b (new)
3 b. Underlines the priority to support our partner countries in their post pandemic recovery by strengthening education and health systems and public infrastructure focussing on the fight against growing inequalities and enabling especially the lower 40% of the population to participate and contribute to a decent and future oriented process of re-building their communities.
2021/02/03
Committee: DEVE
Amendment 6 #

2020/2117(INI)

Draft opinion
Paragraph 1
1. Notes that COVID-19 has caused an unprecedented health, economic, social and humanitarian crisis on a global scale, with asymmetric effects for least developed countries (LDCs) and low- and middle- income countries (LICs and MICs), especially for people in poverty or at risk of poverty; calls for the EUCommission to tailor its commitments and approach to developing countries, LDCs, LICs and LDMICs accordingly to reduce inequalities, and to update its trade and development policies according to the impact of the pandemic in partner countries;
2021/03/16
Committee: DEVE
Amendment 14 #

2020/2117(INI)

Draft opinion
Paragraph 2
2. Calls on the Commission to mount an assertive and coordinated international trade policy response geared towards a multilateral, resilient and sustainable recovery in developing countries; calls o, especially in the Ccommission to deepen EU-Africa trade relations through economic partnership agreements, while making the most of the EU’s Aid for Trade Strategy; odity-dependent developing countries with depressed export earnings due to the pandemic; reminds that revenues obtained from commodity exports are critical for financing public spending and health systems; calls on the Commission to deepen trade relations with the OACPS, CELAC and African countries through economic partnership agreements, while making the most of the EU’s Aid for Trade Strategy; calls on the Commission and the Member States to cooperate in widening the fiscal margin in LDCs, LICs and MICs for health measures and in the support of SMEs through balance of payments aid and debt relief agreements;
2021/03/16
Committee: DEVE
Amendment 25 #

2020/2117(INI)

Draft opinion
Paragraph 3
3. Encourages the EU and the Member States to help developing countries and regions to keep their borders open and to set up ‘green corridor mechanisms’ to allow the unhindered flow of essential goods, agri-food products and humanitarian aid across borders, medical and pharmaceutical products and humanitarian aid across borders; reiterates the importance of observing the provisions of the UNGA Resolution 74/274 approved on April 20, 2020, requesting the strengthening of supply chains that promote and ensure fair, transparent, equitable, efficient and timely access to the medicines, vaccines and medical supplies needed to combat the COVID-19 pandemic; and of the World Health Assembly Resolution 73.1 approved on May 19, 2020, that recognizes the role of extensive immunization against COVID-19 as a global public good for health in preventing, containing and stopping transmission in order to bring the pandemic to an end;
2021/03/16
Committee: DEVE
Amendment 33 #

2020/2117(INI)

Draft opinion
Paragraph 4
4. InvitUrges the Commission to adapt its trade policy in order to help developing countries to boost the resilience and diversification of their value chains at a global, regional and local level, including reshoring and nearshoring; calls on the Commission to cooperate in further development and enforcement of business due diligence obligations in global value chains, helping to develop mechanisms of compliance in supply chains and production in developing countries;
2021/03/16
Committee: DEVE
Amendment 37 #

2020/2117(INI)

Draft opinion
Paragraph 4 a (new)
4a. Underlines that the post COVID- 19 recovery is a unique opportunity to re- set sustainable growth; calls on the Commission to present its review of the 15-point Action Plan on TSD Chapters, with the briefest of delays; expects the review to urgently address the enforceability of TSD commitments which have proven to be lacking, taking as a minimum recent advances in enforceability, namely the ability for the EU to tackle any non-compliance by partners;
2021/03/16
Committee: DEVE
Amendment 44 #

2020/2117(INI)

Draft opinion
Paragraph 5
5. Welcomes the commitment shown by the EU and its Member States in tackling the wider impact of COVID-19, in particular through the Coronavirus Global Response and COVAX initiatives; acknowledges the commitment of the Commission to make the COVID-19 vaccine a global public good and requests adequate measures for the global challenges of shortages, insufficient manufacturing capacity and the gap between COVAX objectives and their financing; calls on the Commission to coordinate with the World Health Organization, the World Trade Organisation and the African Union in order to scale up vaccine production for developing countries; calls on the Commission to promote contracts between pharmaceutical companies and generic manufacturers in developing countries to increase global manufacturing capacity and reduce the delay in vaccination and ensure affordability especially for LDCs; calls on the Commission and the Member States to close the funding gap for the Access to COVID-19 Tools (ACT) Accelerator and COVAX and to ensure that the sharing of excess vaccine doses is coordinated under Team Europe, in close cooperation with COVAX;
2021/03/16
Committee: DEVE
Amendment 48 #

2020/2117(INI)

Draft opinion
Paragraph 5 a (new)
5a. Welcomes UN Secretary-General’s call to ensure equal, affordable and rapid access to COVID-19 vaccines globally; urges the Commission to take a leading role in the WTO TRIPS Council debates on avoiding barriers to access to vaccines and transfer of technology by promoting consensus in the flexibilization of TRIPS obligations; requests to consider compulsory licensing and implementation of Regulation (EC) No 816/2006 of the European Parliament and of the Council on compulsory licensing of patents relating to the manufacture of pharmaceutical products for export to countries with public health problems as a means to boost EU cooperation with developing countries facing COVID-19;
2021/03/16
Committee: DEVE
Amendment 52 #

2020/2117(INI)

Draft opinion
Paragraph 5 b (new)
5b. Requests to provide to the Commission-Parliament Contact Group an oversight over the decision making in the COVID-19 response, including the negotiation of Advance Purchase Agreements (APAs); requests the inclusion of DEVE Committee representatives in the Commission- Parliament Contact Group to provide adequate input for an EU Global vaccination strategy that is prepared for challenges such as the deployment of the vaccine in countries with insufficient medical infrastructure, production of vaccines in developing countries, a humanitarian buffer of vaccines and risk reduction and preparedness against new strains of the virus;
2021/03/16
Committee: DEVE
Amendment 54 #

2020/2117(INI)

Draft opinion
Paragraph 5 c (new)
5c. Underlines that the developing countries will need a decade to recover from the pandemic, according to the Oxfam report “The inequality virus”, while richer countries progress with vaccinations faster and recover quicker; remarks that failure to immunize the world's population will cost rich countries between 10 to 100 times the money it would cost to help developing countries get vaccinated, according to the Peterson Institute for International Economics; calls therefore on the Commission to coordinate a donor conference to invest in global manufacturing and encourage sharing of patents and transfer of technology in order to speed up the global health and economic recovery;
2021/03/16
Committee: DEVE
Amendment 57 #

2020/2117(INI)

Draft opinion
Paragraph 6
6. Urges the Commission to identify the appropriate measures to ensure that this pandemic does not precipitate a food crisis in the developing world; supports actions to facilitate trade with a view to promoting food safety and sanitary and phytosanitary measures in response to COVID-19, including nutritious, safe, affordable and high quality food throughout the year; recalls the principle of policy coherence for development to ensure European exports do not hinder the development of local production; calls for the prioritisation of local production and consumption that ensure local job creation, guarantee fair prices for producers and consumers, reduce countries' dependence on imports and their vulnerability to international price fluctuations;
2021/03/16
Committee: DEVE
Amendment 60 #

2020/2117(INI)

Draft opinion
Paragraph 6 a (new)
6a. Calls on the Commission to consider the implications of COVID-19 and its impact on achieving the 2030 UN Sustainable Development Goals; accordingly, urges the Commission to re- adapt its trade policy in line with its global development policy accordingly to ensure that economies and societies are rebuilt better, more sustainable, more resilient and more socio-economically equal after the pandemic; stresses that tackling inequalities must become central to the EU’s post-COVID-19 global strategy, including its trade agenda, to make sure that progress on reducing poverty, education, public health, gender equality and climate action is not lost due to the pandemic;
2021/03/16
Committee: DEVE
Amendment 189 #

2020/2117(INI)

Motion for a resolution
Paragraph 19
19. Underlines that the vaccines against COVID-19 and its variants are a global public good and that multilateral efforts should be focused on the equitable distribution of vaccines across the world, ramping up global production capacities and technology transfers, including in low and middle- income countries; strongly welcomes, in this regard, the Global C19 Vaccine Supply Chain and Manufacturing Summit held on 8 and 9 March 2021 and calls for the establishment of structural platforms to rapidly scale up vaccine production in more countries; calls for more international efforts to speed up the delivery of vaccines to COVAX;
2021/04/20
Committee: INTA
Amendment 8 #

2020/2027(INI)

Draft opinion
Paragraph 1
1. Recalls that the global rise in environmental criminality is a growing threat to the achievement of the UN’s 2030 Agenda; calls for theglobal recognition of the right to a healthy and sustainable environment at the UN level; urges the EU and MS to increase their efforts in the realisations of the SDGs in the light of Decade of Action by 2030, the Green Deal and the EU2030 Biodiversity Strategy;
2020/11/13
Committee: DEVE
Amendment 32 #

2020/2027(INI)

Draft opinion
Paragraph 3 a (new)
3a. Believes that Corporate Social Responsibility (CSR) and Corporate Environmental Responsibility (CER) could play a complementary role to environmental liability, as duly compliance with CSR and CER can reduce the likelihood of environmental harm; considers important in this sense that this commitments should be connected to mandatory obligations towards sustainable value creation, including the enforcing of non-financial reporting obligations, also through sanctioning mechanisms;
2020/11/13
Committee: DEVE
Amendment 35 #

2020/2027(INI)

Draft opinion
Paragraph 3 b (new)
3b. Considers that a new legislation is urgently needed in order to establish clear, robust and enforceable cross- sectoral requirements on business enterprises to respect human rights and the environment and to carry out due diligence; stresses that such legislation should follow a cross-commodity approach, apply to all economic actors in the supply chain, including financial actors, both upstream and downstream, be accompanied by a robust reporting, disclosure and enforcement mechanism, including effective, proportionate and dissuasive penalties for non-compliance;
2020/11/13
Committee: DEVE
Amendment 43 #

2020/2027(INI)

Draft opinion
Paragraph 4 a (new)
4a. Underlines that the environmental liability of companies should be connected to the global dimension of production processes and of value creation and that this perspective requires further efforts to define broader and more effective rules;
2020/11/13
Committee: DEVE
Amendment 50 #

2020/2027(INI)

Draft opinion
Paragraph 5
5. Notes that companies may abuse their limited liability to invest in hazardous industries through separate legal entities in order to externalise environmental costs; recalls the governance gap in global value chains; calls for the scope of strict liability to be extended to parent companies all through the supply chain to avoid the risk of moral hazard;
2020/11/13
Committee: DEVE
Amendment 57 #

2020/2027(INI)

Draft opinion
Paragraph 6 a (new)
6a. Calls for setting up or improving protecting mechanisms and specific legal measures defining environmental defenders, recognising their work and guaranteeing their protection; retains it essential to define regulatory frameworks that ensure early and constant involvement of local communities and accessible channels for reporting environmental risks;
2020/11/13
Committee: DEVE
Amendment 10 #

2019/2055(DEC)

Draft opinion
Paragraph 4
4. Welcomes the use of budget support in general to assist developing countries in their reform efforts and in achieving the SDGs,; urges, however, the Commission to more clearly assess and define the development outcomes to be achieved through budget support in each case and above allthe contribution of the Union budget support towards the achievement of the SDGs, in particular as regards SDG 10 (Reduced Inequality), and to enhance control mechanisms concerning recipient states' conduct in the fields of corruption, respect of human rights, rule of law and democracy.
2019/12/11
Committee: DEVE
Amendment 2 #

2018/0358M(NLE)

Draft opinion
Paragraph -1 (new)
-1. Recalls that Vietnam is a developing country; underlines that in order to contribute to reaching the Sustainable Development Goals, in particular SDG 1 on poverty eradication, SDG 8 on decent work and SDG 10 on reduced inequalities, investment must contribute to the creation of quality jobs, support the local economy and fully respect domestic regulation including tax requirements;
2019/10/07
Committee: DEVE
Amendment 8 #

2018/0358M(NLE)

Draft opinion
Paragraph 2
2. Welcomes the use of the transparency rules of the United Nations Commission on International Trade Law (UNCITRAL) for dispute settlement, but underlines that the use of substantive provis; emphasises that the protections of foreign investment protection, in particular the principles of ‘indirect expropriation’ and of ‘fair and equitable treatment’, does not weaken the Parties’ right to regulate and pursue legitimate public policy objectives, such as public health, safety and environmental protectionlegitimate public policy decisions and the right to regulate must not be challenged by investors; insists on regular monitoring and reporting back to the European Parliament on the use of this provision by European investors;
2019/10/07
Committee: DEVE
Amendment 12 #

2018/0358M(NLE)

Draft opinion
Paragraph 3
3. Notes with concern that protections afforded to investors could possiblyare outpaceing the development of investor responsibilities as the EU-Vietnam Investment Protection Agreement (IPA) guarantees enforceable rights to foreign investors through the arbitration clause, but does not provide a sanction mechanism for non-compliance with social and environmental standards; reiterates the need to ensure a fair balance of investors’ rights and duties, in terms of corporate, social and environmental standards, in the IPA; underlines in this regard the importance of establishing an independent monitoring and complaint mechanism that can be seized by affected populations and that has the authority to make binding rulings with regard to the negative impact that trade and investment agreements may have.
2019/10/07
Committee: DEVE
Amendment 48 #

2016/2064(INI)

Motion for a resolution
Paragraph 3 – subparagraph 1 (new)
Requests that additional resources are provided to ensure that the European Parliament will have sufficient expertise in-house to follow-up the implementation of the investment plan and how it fits with the surveillance of the recommendations submitted to Member States under the European Semester for economic policy coordination in view of the bridging of the investment gap in the EU;
2017/03/02
Committee: BUDGECON
Amendment 167 #

2016/2064(INI)

Motion for a resolution
Paragraph 14
14. Considers it important to discuss whether the envisaged leverage of 15 is appropriate to enable EFSI to support high quality projects bearing a higher risk; invites the EIB to weigh up complementing the volume requirement with secondary goals to be achieved; suggests to examine options of liaising this with the 2030 Agenda of Sustainable Development;
2017/03/02
Committee: BUDGECON
Amendment 203 #

2016/2064(INI)

Motion for a resolution
Paragraph 17
17. Welcomes that all sectors defined in the EFSI Regulation have been covered by EFSI financing; points out, however, that certain sectors are under-represented; notes that this might be due to the fact that certain sectors already offered better investment opportunities in terms of shovel-ready, bankable projects when EFSI started up, while other sectors might have suffered from a lack of experience and technical knowhow in how to get access to EFSI; invites the EIB against this backdrop to discuss how to improve sectorial diversification, linking it to the goals set out in the Regulation as well as the issue of whether EFSI support should be extended to other sectors;
2017/03/02
Committee: BUDGECON
Amendment 297 #

2016/2064(INI)

Motion for a resolution
Paragraph 30
30. Attaches the utmost importance to the operation of the European Investment Advisory Hub (EIAH); considers that its mission to act as a single point of entry to comprehensive advisory and technical assistance throughout all stages of the project cycle largely responds to the growing need for technical assistance support among authorities and project promoters; underlines the necessity for the EIAH to hire staff with expertise from different backgrounds in order to enable targeted support for a grand variety of sectors;
2017/03/02
Committee: BUDGECON
Amendment 232 #

2016/2063(INI)

Motion for a resolution
Paragraph 16 a (new)
16a. Notes that the current system by which the ECB is relying on the employment of temporary agents, placed within a system of repetitive temporary contracts, is reportedly creating instability in the working environment and undermining professional cohesion at the ECB;
2016/07/27
Committee: ECON
Amendment 61 #

2016/0403(COD)

Proposal for a regulation
The European Parliament rejects the Commission proposal.
2017/12/01
Committee: IMCO
Amendment 80 #

2016/0402(COD)

Proposal for a directive
The European Parliament rejects the Commission proposal.
2017/12/01
Committee: IMCO
Amendment 51 #

2016/0364(COD)

Proposal for a directive
Recital 6 a (new)
(6a) The principle of equal pay for male and female workers for equal work or work of equal value is laid down in art 157 TFEU. This needs to be applied in a consistent way by credit institutions and investment firms. Therefore they should demonstrate a gender neutral remuneration policy.
2018/02/02
Committee: ECON
Amendment 69 #

2016/0364(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b
Directive 2013/36/EU
Article 2 – paragraph 5a – introductory part
This Directive shall not apply to an institution or a unit of a credit institution where the Commission establishes in a delegated act adopted pursuant to Article 148, on the basis of information available to it that the institution or a unit of the institution fulfils all of the following conditions, without prejudice to the application of state aid rules:
2018/02/02
Committee: ECON
Amendment 78 #

2016/0364(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b
Directive 2013/36/EU
Article 2 – paragraph 5a – point e
(e) it is precluded from accepting covered depositsnot as defined in point (5) of Article 2(1) of Directive 2014/49/EU of the European Parliament and of the Council12 ; irect recipient of savings from private persons; __________________ 12 Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (recast) (OJ L 173, 12.6.2014, p. 149)
2018/02/02
Committee: ECON
Amendment 103 #

2016/0364(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a
Directive 2013/36/EU
Article 3 – point 64 a (new)
(64a) Gender neutral remuneration policy in a credit institution or investment firm means a remuneration policy based on equal pay for women and men for equal work or work of equal value.
2018/02/02
Committee: ECON
Amendment 171 #

2016/0364(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 11 a (new)
Directive 2013/36/EU
Article 74
(11a) Article 74 is amended as follows: "1. Institutions shall have robust governance arrangements, which include a clear organisational structure with well- defined ,transparent and consistent lines of responsibility, effective processes to identify, manage, monitor and report the risks they are or might be exposed to, adequate internal control mechanisms, including sound administration and accounting procedures, and remuneration policies and practices that are consistent with and promote sound and effective risk management. Those remuneration policies and practices shall be gender neutral. .2. The arrangements, processes and mechanisms referred to in paragraph 1 shall be comprehensive and proportionate to the nature, scale and complexity of the risks inherent in the business model and the institution's activities. The technical criteria established in Articles 76 to95 shall be taken into account 3. EBA shall issue guidelines on the 3. arrangements ,processes and mechanisms referred to in paragraph 1, in accordance with paragraph 2. (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013L0036&from=EN)One year after the adoption of this directive, EBA will issue guidelines on gender neutral remuneration policy for credit institutions and investment firms. Two years after the publication of these guidelines and based on the information collected by the national competent authorities, EBA will draft a report about the application of gender neutral remuneration policies by credit institutions and investment firms. " Or. en
2018/02/02
Committee: ECON
Amendment 172 #

2016/0364(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 12
Directive 2013/36/EU
Article 75 – paragraph 1
1. Competent authorities shall collect the information disclosed in accordance with the criteria for disclosure established in points (g), (h), (i) and (k) of Article 450(1) of Regulation (EU) No 575/2013 and shall use its well as the information provided by credit institutions and investment firms on the gender pay gap and shall use this information to benchmark remuneration trends and practices. The competent authorities shall provide EBA with that information.
2018/02/02
Committee: ECON
Amendment 185 #

2016/0364(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 13 a (new)
Directive 2013/36/EU
Article 84 a (new)
The following Article 84a is added: ´Article 84a Climate-related risks 1. The competent authorities shall ensure that policies and processes for the identification, measurement and management of all material sources and effects of climate-specific risks are implemented. 2. For the purposes of paragraph 1, the institution shall identify the following: a) the risks to which the institution is exposed in the short, medium and long terms; b) a description of significant concentrations of credit exposures involving carbon-related assets, if these exposures are material. This should include a forward-looking climate scenario analysis assessing how the portfolio aligns with the Paris Agreement’ objective of limiting global warming well below 2°C, as recommended by the TCFD; c) a description of the impact of the climate-related risks on the institution’s business, strategy and financial planning, if these risks are material and financial; d) a description of the processes which the institution uses to identify, assess and manage climate-related risks; e) the parameters and metrics which the institution used to assess the impact of short-, medium- and long-term climate- related risks on lending and financial intermediary transactions, if these risks are material. 3. The EBA shall issue guidelines to specify: a) what is meant by a short-term, a medium-term and a long-term time frame; b) what is meant by specific climate- related problems which may arise in the short, medium or long term and which could have a material, financial impact on the institution; c) what is meant by physical risks and transition risks; d) what is meant by the processes used to determine which risks could have a material, financial impact on the institution; e) what is meant by a green exposure based on the carbon footprint methodology defined by the Commission following article 501da (new) of Regulation (EU) No 575/2013; f) what is meant by a brown exposure based on the carbon footprint methodology defined by the Commission following article 501db (new) of Regulation (EU) No 575/2013; g) what is meant by forward-looking climate scenario analysis at portfolio level. The EBA shall publish these guidelines by ... [two years after the entry into force of this Directive]. 4. The EBA should conduct forward- looking climate scenario analysis on the portfolios of regulated entities to assess climate related risks and climate alignment of lending portfolios at EU market level. It should coordinate with other ESAs and the Commission to harmonise such climate scenario analysis.’
2018/02/02
Committee: ECON
Amendment 208 #

2016/0364(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 15 – point b a (new)
Directive 2013/36/EU
Article 92 – paragraph 2 – point a a (new)
(ba) In paragraph 2, the following point (aa) is inserted: (aa) the remuneration policy is gender neutral: female and male workers will be equally remunerated for equal work or work of equal value.
2018/02/02
Committee: ECON
Amendment 271 #

2016/0364(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 21 – point a
Directive 2013/36/EU
Article 104 – paragraph 1 – introductory part
1. For the purposes of Article 92(2)(b), Article 97, Article 98(4), Article 101(4) and Article 102 and the application of Regulation (EU) No 575/2013, competent authorities shall have at least the following powers:
2018/02/02
Committee: ECON
Amendment 275 #

2016/0364(COD)

Proposal for a directive
Article 1 – paragraph 1 – point 21 – point a
Directive 2013/36/EU
Article 104 – paragraph 1 – point g
(g) to require institutions to limit variable remuneration as a percentage of net revenues where it is inconsistent with the maintenance of a sound capital base; and, to require credit institutions and investment firms to comply with the guidelines issued by EBA on gender neutral remuneration policies.
2018/02/02
Committee: ECON
Amendment 256 #

2016/0360A(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point b a (new)
Regulation (EU) No 575/2013
Article 6 – paragraph 4
(ba) Paragraph 4 is replaced by the following: "4. Credit institutions and investment firms that are authorised to provide the investment services and activities listed in points (3) and (6) of Section A of Annex I to Directive 2004/39/EC shall comply with the obligations laid down in Part Six on an individual basis. Credit institutions that are recognised as Central Counterparties Parties (CCPs) as laid down in Article 14 of Regulation (EU) No 648/2012 and that do not perform maturity transformation shall be exempted from the obligations laid down in Article 413(1) on an individual basis. Pending the report from the Commission in accordance with Article 508(3), competent authorities may exempt investment firms from compliance with the obligations laid down in Part Six taking into account the nature, scale and complexity of the investment firms' activities." (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013R0575&from=DE)Or. en
2018/02/02
Committee: ECON
Amendment 258 #

2016/0360A(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point b a (new)
Regulation (EU) No 575/2013
Article 6 – paragraph 5
(ba) Paragraph 5 is replaced by the following "5. Institutions, except for investment firms referred to in Article 95(1) and Article 96(1) and institutions for which competent authorities have exercised the derogation specified in Article 7(1) or (3), shall comply with the obligations laid down in Part Seven on an individual basis." (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013R0575&from=DE) Credit institutions that are recognised as Central Counterparties (CCPs) as laid down in Article 14 of Regulation (EU) No 648/2012 shall be exempted from the obligations laid down in Part Seven on an individual basis." Or. en
2018/02/02
Committee: ECON
Amendment 984 #

2016/0360A(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 116
Regulation (EU) No 575/2013
Article 449 a (new)
Article 449a Disclosure of the climate-related risks 1. From... [3 years after entry into force of this Regulation], institutions disclose the following information on climate-related risks in accordance with Article 84a of Directive 2013/36/EU, and in alignment with the recommendations from the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD): (a) A description of the specific problems relating to climate, which could arise in the short, medium, or long-term and could have a material or financial impact on the institution, and whether these are physical or transition risks; (b) A description of the processes that are used to determine which risks could have a material or financial impact on the institution and how these are integrated into the overall risk management; (c) A description of significant concentrations of credit exposures against carbon-related assets, if these are material. This should include a forward- looking climate scenario analysis assessing how the lending portfolio aligns with the Paris Agreement’ objective of limiting global warming well below 2°C, as recommended by the TCFD (d) A description of the impact of climate-related risks on the business, strategy and financial planning of the institution, if these are material; (e) A description of the processes that the institution uses to identify, evaluate and manage risks; (f) The parameters and metrics that the institution used to evaluate the impact of short-, medium- and long-term climate- related risks on lending and financial intermediary services, if these are material; (g) A description of the role of the board with regard to the evaluation and management of climate-related risks. 2. The management body, as defined in article 88 of 2013/36/EU, will sign for the correctness of the information on climate-related risks described in this article. 3. For the purpose of implementing the definition referred to in this article the EBA may prepare draft technical regulatory standards.
2018/02/05
Committee: ECON
Amendment 1059 #

2016/0360A(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 127
Regulation (EU) No 575/2013
Article 501 d a (new)
Article 501da Support factor for green assets 1. Risk-weighted exposure amounts for green exposures to corporates, used for a unit that exists or was created to finance, refinance or operate green assets as described in paragraph 3, and which meet the prudential criteria as set out in Article 501a(1)(c)-(n) and Article 501a(2), shall be adjusted in accordance with the following formulae: (i) if E' <= EUR 1 500 000, RW* = RW 0.7612; (ii) if E' > EUR 1 500 000, RW* = min {RW; EUR 1500 000} * 0.7612 + max {0; RW – 1 500 000} * 0.85; where: RW* = adjusted risk-weighted exposure amount for green exposure; E' = the total amount in green exposures owed to the institution and parent undertakings and its subsidiaries, including any exposure in default, by the obligor client or group of connected clients, but excluding claims or contingent claims secured on residential property collateral; RW= risk-weighted exposure amount for green exposure, calculated in accordance with Part II, Title II and this Article. 2. For the purpose of this Article, the following shall apply: The Commission is empowered supplement this Regulation by adopting delegated acts in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010 to define a carbon footprint methodology, in order to compile a list of exposures that are defined as green exposures. For the purpose of implementing the definition referred to in this paragraph and the compilation of the green exposures list, the EBA shall prepare draft technical regulatory standards. The EBA shall submit those draft regulatory technical standards to the Commission by ... [two years after entry into force of this Regulation]. 4. Institutions shall report the total amount of green assets, calculated in accordance with paragraph 2, to the relevant authorities every three months. 5. The EBA shall, [three years after entry into force of this regulation], report to the Commission on the impact of the own funds requirement on the financing of, and investment in, green assets. For the purposes of this article, the EBA report to the Commission shall include the following: (a) An analysis of the developments in financing and investments in green assets over the period specified in in this paragraph; (b) An analysis of the effective risk profile of green assets over an entire economic cycle; (c) Any additional points which the EBA regards as important in this report. 6. The Commission shall submit this report to the European Parliament and the Council, accompanied by a legislative proposal if considered necessary. 7. The Green Support Factor cannot for the same assets be combined with the SME support factor referred to in Article 501, the infrastructure support factor referred to in Article 501a or the support factor for social enterprises referred to in Article 501db.
2018/02/05
Committee: ECON
Amendment 1064 #

2016/0360A(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 127
Regulation (EU) No 575/2013
Article 501 d a (new)
Article 501da Penalising factor for brown assets 1. Risk-weighted exposure amounts for brown exposures, used for a unit that exists or was created to finance, refinance or operate brown assets as described in paragraph 2, shall be adjusted in accordance with the following formulae: (i) if E' <= EUR 1 500 000, RW** = RW 1.15; (ii) if E' > EUR 1 500 000, RW* = min {RW; EUR 1500 000} * 1.15 + max {0; RW – 1 500 000} * 1.2388; where: RW** = adjusted risk-weighted exposure amount for brown exposure; E' = the total amount owed in brown exposures to the institution and parent undertakings and its subsidiaries, including any exposure in default, by the obligor client or group of connected clients, but excluding claims or contingent claims secured on residential property collateral; RW= risk-weighted exposure amount for brown exposure, calculated in accordance with Part II, Title II and this Article. 2. For the purpose of this Article, the following shall apply: The Commission is empowered supplement this Regulation by adopting delegated acts in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010 to define a carbon footprint methodology, in order to compile a list of exposures that are defined as brown exposures, taking into account the transition of institutions to a low carbon strategy. For the purpose of implementing the definition referred to in this paragraph and the compilation of the brown exposures list, the EBA shall prepare draft technical regulatory standards. The EBA shall submit those draft regulatory technical standards to the Commission by ... [two years after entry into force of this Regulation]. 3. Institutions shall report the total amount of brown assets, calculated in accordance with paragraph 2, to the relevant authorities every three months. 4. The EBA shall, [three years after entry into force of this regulation], report to the Commission on the impact of the own funds requirement on the financing of, and investment in, brown assets. For the purposes of this article, the EBA report to the Commission shall include the following: (a) An analysis of the developments in financing and investments in brown assets over the period specified in this paragraph; (b) An analysis of the effective risk profile of brown assets over an entire economic cycle; (c) Any additional points which the EBA regards as important in this report. 6. The Commission shall submit this report to the European Parliament and the Council, accompanied by a legislative proposal if considered necessary.
2018/02/05
Committee: ECON
Amendment 295 #

2016/0337(CNS)

Proposal for a directive
Article 11 a (new)
Article 11a Sustainability Allowance 1. Taxpayers to which the provisions of this directive are applicable shall have the right to request a sustainability allowance rewarding the taxpayer’s efforts to achieve greater efficiency regarding the use of energy and drinking water. 2. To this end, the allowance shall be proportional to the progress of the taxpayer in reducing the consumption of electricity, fossil fuels and drinking water in its economic activities. 3. The establishment of the amount of the allowance shall: (a) be established based on a computation of the difference, in percentage points, between the total amount of cumulated volumes of electricity, fossil fuels, and water consumed during a financial year and the total amount of the same cumulated volumes during the previous financial year. This computation is to be provided individually for each of the member states in which the taxpayer is resident for tax purposes. The amounts of the consumed volumes of electricity, fossil fuels, and drinking water shall correspond to the volumes stated in the original invoice of the suppliers with whom the taxpayer has contractually agreed the supply of these resources. (b) take account of changes of the volumes of consumed energy and natural resources stemming from variations in the economic activity of the taxpayer. To this end, the changes in the volumes of energy and water established in accordance with the first subparagraph shall be adjusted to the difference between the national apportionment shares established in accordance with the apportionment formula laid down in directive 2016/xxx/EU [Common Consolidated Corporate Tax Base] for the same period. That difference shall be stated in percentage points for each member state and be subtracted from, in case of a negative value of the difference, or added to, in case of a positive value of the difference, the changes of the volumes of consumed energy and natural resources as stated in percentage points for the same period and member state. (c) if the value defined in accordance with the first two subparagraphs is a positive value, be, for each Member State and the respective financial year, equal to 0.1% of the tax base for each full percentage point established in accordance with the first two subparagraphs. The total amount of the allowance shall not exceed EUR 20 000 000. 4. Taxpayers whose primary economic activity is the generation, processing, and provision of electricity, fossil fuels, and drinking water shall not have the right to benefit from the sustainability allowance. In cases where the generation, processing, and provision of electricity, fossil fuels, and drinking water is the primary economic activity of certain divisions of an undertaking, the taxpayer shall not have the right to request the consideration of these divisions in the establishment of its sustainability allowance.
2017/09/29
Committee: ECON
Amendment 114 #

2016/0336(CNS)

Proposal for a directive
Recital 11 a (new)
(11a) To end the race to the bottom on corporate tax rates at EU level, a European minimum effective corporate tax rate is required. On average, corporate tax in the European Union decreased from 35% in the 1990s to 22.5% today. By adopting the CCCTB, Member States will no longer be able to compete through tax bases, the result being further decreases in the corporate tax rates.
2017/09/29
Committee: ECON
Amendment 119 #

2016/0336(CNS)

Proposal for a directive
Recital 13 b (new)
(13b) As the High Level Group on Own Resources suggests, a part of the fiscal revenues gained from the common consolidated tax base can be used as an own resource for the Union budget, in order to proportionally reduce Member States’ contributions to the same budget. This should lead to a more effective way to levy taxes on exporting and multinational corporations, who benefit most from globalisation and the Single Market, and thus introduce a user-pays principle.
2017/09/29
Committee: ECON
Amendment 121 #

2016/0336(CNS)

Proposal for a directive
Recital 14 a (new)
(14a) In order to create a level playing field and to eliminate tax competition conditions having a negative impact on the economic performance of the internal market and leading to a race to the bottom, minimum effective corporate tax rates should be introduced so as to optimise tax efficiency. Such a minimum effective tax rate would furthermore lead to the benefit of better comparing economic performance of Member States across the EU. The average EU top statutory corporate income tax rate is 22.5%, and in some Member States as low as 10%. The declining tendency of this rate should be reversed so as to avoid a race to the bottom. This directive therefore asks the Commission to come up with a legislative proposal for a minimum effective corporate tax rate at 18% in each Member State. Until such a legislation is in place, the Commission should publish statistics of the effective tax rates in Member States, distinguishing between the effective tax rates of SMEs and MNEs.
2017/09/29
Committee: ECON
Amendment 159 #

2016/0336(CNS)

Proposal for a directive
Article 3 – paragraph 1 – point 28 a (new)
(28a) 'royalty cost' means costs arising from payments of any kind made as a consideration for the use of, or the right to use, any copyright of literary, artistic or scientific work, including cinematograph films and software, any patent, trademark, design or model, plan, secret formula or process, or for information concerning industrial, commercial or scientific experience, or any other intangible asset; payments for the use of, or the right to use, industrial, commercial or scientific equipment shall be regarded as royalty costs;
2017/09/29
Committee: ECON
Amendment 161 #

2016/0336(CNS)

Proposal for a directive
Article 3 – paragraph 1 – point 28 b (new)
(28b) 'transfer prices' means the prices at which an undertaking transfers tangible goods or intangible assets or provides services to associated undertakings;
2017/09/29
Committee: ECON
Amendment 162 #

2016/0336(CNS)

Proposal for a directive
Article 3 – paragraph 1 – point 28 c (new)
(28c) 'patent box' means a system used to calculate the income deriving from intellectual property (IP) which is eligible for tax benefits by establishing a link between the eligible expenditure effected when the IP assets were created (expressed as a proportion of the overall expenditure linked to the creation of the IP assets) and the income deriving from those IP assets; this system restricts the IP assets to patents or intangible goods with an equivalent function and provides the basis for the definition of 'eligible expenditure', 'overall expenditure' and 'income deriving from IP assets';
2017/09/29
Committee: ECON
Amendment 163 #

2016/0336(CNS)

Proposal for a directive
Article 3 – paragraph 1 – point 28 d (new)
(28d) ‘Digital business establishment’ means an establishment which is specifically directed towards consumers or businesses in a Member State regard shall be had to the fact that the business establishment is conducting its business under the top level domain of the Member State or of the EU, or in relation to mobile application based business, distributing its application via the Member State specific part of a mobile application distribution centre;
2017/09/29
Committee: ECON
Amendment 246 #

2016/0336(CNS)

Proposal for a directive
Article 44 – paragraph -1 (new)
-1. No deductions shall be allowed to the extent that they would lead to an effective corporate tax rate lower than 18% on revenues, excluding exempt revenues.
2017/09/29
Committee: ECON
Amendment 247 #

2016/0336(CNS)

Proposal for a directive
Article 45 – paragraph 1
The tax liability of each group member shall be the outcome of the application of the national tax rate to the apportioned share, adjusted in accordance with Article 44, and further reduced with the deductions provided for in Article 25. A minimum effective corporate tax rate shall be set at 18%.
2017/09/29
Committee: ECON
Amendment 286 #

2016/0336(CNS)

Proposal for a directive
Article 79 – paragraph 1
The Commission shall, five years after the entry into force of this Directive, review its application and report to the Council on the operation of this Directive. The report shall in particular include an analysis of the impact of the mechanism set up in Chapter VIII of this Directive on the apportionment of the tax bases between the Member States. In drawing the conclusions of such a review, the Commission shall propose the terms and conditions to allocate a part of the tax revenues generated from the common consolidated corporate tax base to the budget of the European Union in order to proportionally reduce Member States contributions to the same budget.
2017/09/29
Committee: ECON
Amendment 234 #

2016/0276(COD)

Proposal for a regulation
Recital 21 a (new)
(21 a) To promote the investment goals of this Regulation, blending with existing funds should be systematically enabled in order to provide adequate concessionalities in the financing terms and conditions, including the pricing, of EFSI operations.
2017/03/27
Committee: BUDGECON
Amendment 292 #

2016/0276(COD)

Proposal for a regulation
Article 1 – paragraph 1 – point 2 a (new)
Regulation (EU) No 2015/1017
Article 5 – paragraph 2 a (new)
(2 a) the following paragraph is added: 'Furthermore, in line with the pricing policies, the Steering Board shall set out guidelines which foresee that: - as a general rule, EFSI shall take a junior position versus other investors, and the pricing of the EFSI operations shall be modulated including blending where necessary to enable projects in order to maximize leverage of funds and to take into account local market conditions; - the pricing policy for equity-type operations taking into account that pricing levels shall remain behind market prices significantly. According to the principle of subsidiarity, a higher pricing can be agreed where the private or public investors plan to bring in sufficient equity risk taking money.';
2017/03/27
Committee: BUDGECON
Amendment 293 #

2015/2344(INI)

Motion for a resolution
Paragraph 14
14. Takes the view that incentives for sound fiscal policymaking and for addressing structural weaknesses at national level, taking into account the aggregate euro area fiscal stance and ensuring, that all Eurozone countries contribute to macroeconomic adjustment towards real convergence, including those who have greater fiscal space to be used to the benefit of the monetary union as a whole, are core elements for the functioning of the euro area; considers that beyond a proper use of the MIP between deficit and surplus countries, a fiscal capacity should, moreover, address specific concerns for the euro area in the case of absorbing shocks;
2016/06/09
Committee: BUDGECON
Amendment 488 #

2015/2344(INI)

Motion for a resolution
Paragraph 24 a (new)
24a. Considers that structural reforms should be ecologically and socially balanced and aim at strengthening growth potential towards a fully sustainable new growth model, promoting fair and sustainable welfare systems and reducing social inequalities;
2016/06/09
Committee: BUDGECON
Amendment 555 #

2015/2344(INI)

Motion for a resolution
Paragraph 26 – indent 3 – paragraph 1
– investment, notably in research and development;, healthcare and education,
2016/06/09
Committee: BUDGECON
Amendment 557 #

2015/2344(INI)

Motion for a resolution
Paragraph 26 – indent 3 – paragraph 1 a (new)
– Social cohesion, including EMU- wide minimum social standards;
2016/06/09
Committee: BUDGECON
Amendment 5 #

2015/2127(INI)

Draft opinion
Paragraph 1
1. Takes note of the 2014 EIB Annualctivity Report and the increase by 6.92% to EUR 80.3 billion in the EIB Group’s lending; is very concerned at the increasingbout still very high unemployment, inequality and poverty levels, as well as weak investment in Europe and the continuous uncertainty in the financial markets, also in view of a worsening global economic outlook;
2015/11/06
Committee: ECON
Amendment 12 #

2015/2127(INI)

Draft opinion
Paragraph 1 a (new)
1a. Is concerned that the EIB intends to reduce its activities over the horizon 2015- 2017; expects that this is only a temporary phenomenon; warns that the EIB uses the EFSI guarantees to reduce its own activity; expects EIB to constantly keep its overall lending volume on a high level that meets the needs of the real economy;
2015/11/06
Committee: ECON
Amendment 18 #

2015/2127(INI)

Draft opinion
Paragraph 2
2. Regrets that overall EU investment in 2013 decreased by 13% compared with the pre- crisis period with investment in some countries decreasing 25% and even by as much as 60% in others, creating a dangerous investment imbalance in the EU; is of the opinion that this constitutes a major challenge for the EIB Group and will require extraordinary efforts from its side for the years to come, as part of an overall EU effort to implement a renewed long-term strategy for sustainable, convergent and inclusive growth;
2015/11/06
Committee: ECON
Amendment 57 #

2015/2127(INI)

Draft opinion
Paragraph 5
5. Takes note ofWelcomes the establishment of the European Fund for Strategic Investment (EFSI) and emphasises the need for the EFSI to function in an effective, transparent and fair way and to take into account that priority should be given to projects in strategic sectors, countries in adjustment programmes and regions which have difficulties in attracting funding because of their high risk environmenat EFSI investments should support new and innovative projects especially in the fields of broadband, energy efficiency and transport as well as other areas where they have the biggest positive impact;
2015/11/06
Committee: ECON
Amendment 71 #

2015/2127(INI)

Draft opinion
Paragraph 5 a (new)
5a. Appeals to the EIB to implement and further develop EFSI in good cooperation with the co-legislators; underlines that this includes a timely and mandatory conclusion of the pending agreement between European Parliament and EIB;
2015/11/06
Committee: ECON
Amendment 128 #

2015/2127(INI)

Draft opinion
Paragraph 9
9. Requests the EIB Group to increase its reporting to Parliament regarding its decisions, progress achieved and the impact of its lending activities within and outside the EU; calls on the EIB Group to engage in deeper dialogue with the Parliament on all its activities within the same scheme for reporting and accountability as set out in the EFSI regulation and to fully comply with the spirit and letter of the EFSI regulation, notably concerning inter-institutional cooperation with the Parliament.
2015/11/06
Committee: ECON
Amendment 380 #

2015/0009(COD)

Proposal for a regulation
Recital 19 a (new)
(19a) An EU guarantee can unleash investments at national and regional level in case granted to a promotional bank or an investment platform and if structured where possible aiming at capital relief.
2015/03/25
Committee: BUDGECON
Amendment 582 #

2015/0009(COD)

Proposal for a regulation
Article 1 – paragraph 1 a (new)
1 a. Article 1a Definitions For the purposes of this Regulation, the following definitions apply: a)´EFSI Agreement´ means the legal instrument whereby the Commission and the EIB specify the conditions laid down in this Regulation for the management of the EFSI; b) ´national promotional banks or institutions´ means legal entities carrying out a financial activity on a professional basis and upon which are conferred a public mandate by a Member State, whether at central, regional or local level, to carry out public development or promotional activities; c) ´investment platforms´ means special purpose vehicles, managed accounts, contract-based co-financing or risk sharing arrangements or arrangements established by any other means by which investors channel a financial contribution in order to finance a number of investment projects and which may include national platforms that regroup several investment projects on the territory of a given Member State, multi- country or regional platforms that regroup several Member States interested in large projects in a given geographic area, or thematic platforms, which could gather investment projects in a given sector; d) 'small and medium-sized enterprises (SMEs)' means micro, small and medium- sized enterprises as defined in Commission Recommendation 2003/361/EC; e) ´mid-cap companies´ means legal entities having up to 3000 employees and that are not SMEs; f) to the purpose of this regulation 'additionality' means the support by the EFSI of operations which address market failures or investment gaps and which could not have been carried out in that period under normal EIB instruments including special operations without EFSI support or to the same extent during that period under EIF and EU instruments. The projects supported by the EFSI, while striving to create jobs and growth, shall typically have a higher risk profile than projects supported by normal EIB operations.
2015/03/25
Committee: BUDGECON
Amendment 660 #

2015/0009(COD)

Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point g a (new)
(ga) detailed arrangements for ensuring that eligible financing and investment operations signed by the EIB during the transitional period laid down in Article 20 benefit from the EU guarantee;
2015/03/25
Committee: BUDGECON
Amendment 690 #

2015/0009(COD)

Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 4 a (new)
The EFSI Agreement shall provide that the EIB shall also use the EU guarantee by granting a guarantee to national promotional banks or institutions, investment platforms or funds, provided compliance with this Regulation is ensured and the approval of the Investment Committee is given.
2015/03/25
Committee: BUDGECON
Amendment 809 #

2015/0009(COD)

Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3 a (new)
The priorities to be pursued by the Commission for the investment guidelines of the EFSI should mirror the Union objectives and be in line with Article 5(2)a of this Regulation. They shall be specified before the EFSI Agreement enters into force and revised if appropriate. The priorities shall be made public. The Commission shall be empowered to adopt delegated acts in accordance with Article 17 for this purpose. When exercising its mandate within the Steering Board of the EFSI, the Commission shall promote, and vote consistently with, the priorities as specified and revised in accordance with the first subparagraph.
2015/03/25
Committee: BUDGECON
Amendment 899 #

2015/0009(COD)

Proposal for a regulation
Article 4 – paragraph 1
The Union shall provide a guarantee to the EIB for financing or investment operations carried out within the Union covered by this Regulation ('EU guarantee'). The EU guarantee shall be granted as a guarantee on demand in respect of instruments referred to in Article 6Without prejudice to this regulation, the EU guarantee shall be irrevocable and unconditional and granted as a guarantee on demand in respect of instruments referred to in Article 6. It shall aim at regulatory capital relief in case granted to a promotional bank or an investment platform.
2015/03/25
Committee: BUDGECON
Amendment 921 #

2015/0009(COD)

Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – introductory part
The EU guarantee shall be granted for EIB financing and investment operations approved by the Investment Committee referred to in Article 3(5) or funding to the EIFor EIB funding to the EIF at the level of investment in funds in order to conduct EIB financing and investment operations in accordance with Article 7(2) and approved by the Investment Committee referred to in Article 3(5). The operations concerned shall be consistent with Union policies and support any of the following general objectives:
2015/03/25
Committee: BUDGECON
Amendment 1029 #

2015/0009(COD)

Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2
In addition, the EU guarantee shall be granted through the EIB for support of dedicated investment platforms or funds and national promotional banks, via the EIB, or institutions that invest in operations meeting the requirements of this Regulation after approval by the Investment Committee referred to in Article 3(5). In that case, the Steering Board shall specify policies, in accordance with Article 3(1), regarding eligible investment platforms. Such operations, and the contributions thereto, shall be considered EFSI operations.
2015/03/25
Committee: BUDGECON
Amendment 1049 #

2015/0009(COD)

Proposal for a regulation
Article 5 – paragraph 2 a (new)
2a. The EFSI shall target projects with a higher risk profile than existing EIB and Union instruments so as to ensure additionality over existing operations. The EFSI shall support projects which fulfil the following criteria: a) the pursuit of the Union objective of smart, sustainable, long-term and inclusive growth and having high societal and economic value, the highest possible positive impact on quality job creation, and EU added value; b) a focus on operations that could not have been carried out using the Union budget or by the ordinary activity of the EIB, nor financed by the market; c) be viable from an economic perspective, according to a cost benefit analysis following national or EU standards; and further where cofinancing by a public partner or by a financial intermediary such as an investment platform or a promotional bank provides support to close a possible financial gap; d) would not have received financing from any other existing Union fund due to a non-availability of the required financing in the market; e) has a higher risk profile than projects supported under existing EIB activity, taking account of the fact that real additionality can only be ensured when financial resources are concentrated on projects not financed otherwise; the design of the appropriate measures is to be elaborated under the procedures of Article 3(1); 2b. Acknowledging that projects of any size can bring the European economy forward, there shall be no restrictions on the size of projects to be targeted by the EFSI.
2015/03/25
Committee: BUDGECON
Amendment 1086 #

2015/0009(COD)

Proposal for a regulation
Article 6 – paragraph 2 – point a
(a) EIB loans, guarantees, counter- guarantees, capital market instruments, any other form of funding or credit enhancement instrument, equity or quasi- equity participations, including through national promotional banks or institutions, investment platforms or funds. These Instruments shall be granted, acquired or issued for the benefit of operations carried out in the Union, including cross-border operations between a Member State and a third country, in compliance with this Regulation and where EIB financing has been granted in accordance with a signed agreement which has neither expired nor been cancelled;
2015/03/25
Committee: BUDGECON
Amendment 1091 #

2015/0009(COD)

Proposal for a regulation
Article 6 – paragraph 2 – point b
(b) EIB funding to the EIF enabling it to undertake loans, guarantees, counter- guarantees, any other form of credit enhancement instrument, capital market instruments and equity or quasi-equity participations, including through national promotional banks or institutions, investment platforms or funds. These Instruments shall be granted, acquired or issued for the benefit of operations carried out in the Union, in compliance with this Regulation and where EIF financing has been granted in accordance with a signed agreement which has neither expired nor been cancelled.
2015/03/25
Committee: BUDGECON
Amendment 1097 #

2015/0009(COD)

Proposal for a regulation
Article 6 – paragraph 2 – point b a (new)
(ba) EIB guarantee to national promotional banks or institutions, investment platforms or funds under a counter-guarantee of the Union.
2015/03/25
Committee: BUDGECON
Amendment 1280 #

2015/0009(COD)

Proposal for a regulation
Article 10 – paragraph 6 a (new)
6a. The Commission shall send to the European Parliament and the Council a report on the realisation of the investment priorities as specified in the delegated act under Article 3(3a) on the same date as the EIB reports under paragraphs 1 and 2. The report shall be accompanied by a proposal with necessary amendments of the delegated act under Article 3(3a).
2015/03/19
Committee: BUDGECON
Amendment 1314 #

2015/0009(COD)

Proposal for a regulation
Article 12 – paragraph 1 – subparagraph 2 a (new)
This report shall include an evaluation of the impact of the EFSI on the investments in the Union, employment creation and access to financing for companies having up to 3000 employees, in particular for small and medium sized enterprises. This report shall be accompanied, if appropriate, by relevant proposals for an extension of the EFSI and modify this Regulation accordingly.
2015/03/19
Committee: BUDGECON
Amendment 1328 #

2015/0009(COD)

Proposal for a regulation
Article 12 – paragraph 5
5. At the latest [PO insert date three years after the entry into force of this Regulation] and every three years thereafter, the Commission shall submit a report to the European Parliament and the Council on the application of this Regulation accompanied by any relevant proposal. This report shall include an evaluation of the impact of the EFSI on the investments in the Union, employment creation and access to financing for companies having up to 3000 employees, in particular for small and medium sized enterprises. This report shall be accompanied, if appropriate, by relevant proposals for an extension of the EFSI and modify this Regulation accordingly.
2015/03/19
Committee: BUDGECON
Amendment 1382 #

2015/0009(COD)

Proposal for a regulation
Article 17 – paragraph 1 a (new)
1a. The power to adopt delegated acts referred to in Article 1(2)a shall be conferred on the Commission for a period of one year from the entry into force of this Regulation.
2015/03/19
Committee: BUDGECON
Amendment 1383 #

2015/0009(COD)

Proposal for a regulation
Article 17 – paragraph 1 b (new)
1b. The power to adopt delegated acts referred in Article 1(2)b shall be conferred on the Commission for an unlimited period of time.
2015/03/19
Committee: BUDGECON
Amendment 173 #

2014/2145(INI)

Motion for a resolution
Paragraph 1
1. Believes that the current economic situation calls for urgent, comprehensive and decisive measures to face the threat of long-lasting deflation or very low inflation, low growth and high unemployment;
2015/03/04
Committee: ECON
Amendment 179 #

2014/2145(INI)

Motion for a resolution
Paragraph 1 a (new)
1a. Stresses that the deflationary pressure is a serious hazard to economic recovery and long-term prosperity; highlights in this context that recent actions by the ECB may need to be accompanied by fiscal measures to combat deflation but that the current economic government framework hampers this strategy
2015/03/04
Committee: ECON
Amendment 663 #

2014/2145(INI)

Motion for a resolution
Paragraph 31
31. Calls for a new legal framework for future assistance programmes in order to ensure that all decisions are taken under the responsibility of the Commission with full involvement of Parliament; to ensure democratic accountability and transparency and increase acceptance of the adjustment programmes
2015/03/03
Committee: ECON
Amendment 675 #

2014/2145(INI)

Motion for a resolution
Paragraph 32
32. Requests, as per the opinion of the ECJ’s Advocate-General, that the ECB not form part of any assistance programmes; to avoid any unclear role of the ECB and jeopardize its credibility
2015/03/03
Committee: ECON
Amendment 105 #

2014/2144(INI)

Motion for a resolution
Paragraph 7
7. Takes note of the joint statement of 6 May 2014 by 10 MSs on enhanced cooperation on the FTT and the progress of its implementation; calls on participating MSs to reach an agreement includingproviding for the comprehensive taxation of derivative transactions by the end of 2014;
2014/12/19
Committee: ECON
Amendment 118 #

2014/2144(INI)

Motion for a resolution
Paragraph 8
8. Calls on MSs to agree to a compulsory CCCTB asnd a common minimum tax rate as comprehensive and long-term solutions to tackle company tax obstacles in the Single Market and prevent damaging tax competition;
2014/12/19
Committee: ECON
Amendment 178 #

2014/2144(INI)

Motion for a resolution
Paragraph 15
15. Regrets that national reforms in the public sector have resulted in inadequate staffing and resource allocation to national tax administrations and tax audit authorities; emphasises, in that connection, that the likely increase in revenue, as a result of more appropriate staffing levels and resource allocation, may bring about an overall improvement in the financial situation in the public sector;
2014/12/19
Committee: ECON
Amendment 193 #

2014/2144(INI)

Motion for a resolution
Paragraph 16
16. Calls on the Commission to propose, and on MSs to agree on, a common EU position and, a set of criteria for the definition of tax havens and coordinated penalties to be imposed on uncooperative tax havens; recalls the call for appropriate measures, including a public European blacklist of tax havens, by 31 December 2014;
2014/12/19
Committee: ECON
Amendment 22 #

2014/2059(INI)

Motion for a resolution
Recital D
D. whereas increasing overall unemployment, and youth unemployment in particular, remains a major threat to economic and social stability and convergence in the EU;
2014/09/09
Committee: ECON
Amendment 27 #

2014/2059(INI)

Motion for a resolution
Recital E
E. whereas, in the context of persistently high debt and unemployment levels, low nominal GDP growth, and the challenges of an ageing society and of supporting job creation, particularly for young people, fiscal consolidation must continue in a growth-friendly and differentiated mannermore differentiated and more intelligent manner, in combination with explicit growth impulses;
2014/09/09
Committee: ECON
Amendment 36 #

2014/2059(INI)

Motion for a resolution
Recital G
G. whereas the Europe 2020 strategy is one of the elements of the EU’s response to the global economic crisis and future challenges;
2014/09/09
Committee: ECON
Amendment 39 #

2014/2059(INI)

Motion for a resolution
Recital H
H. whereas the global financial crisis and the sovereignbanking and debt crisis in the EU have significantly hampered access by small and medium-sized enterprises (SMEs) to financial resources;
2014/09/09
Committee: ECON
Amendment 57 #

2014/2059(INI)

Motion for a resolution
Paragraph 1
1. Notes the fact that economic recovery in the EU is under way; reiterates, however, that this recovery is fragile and uneven, and must be sustain, in nearly all Member States, the economy has still not recovered from the consequences of the financial and economic crisis; notes that the EU economy is in danger of seeing a trend towards a prolonged period of stagnation; stresses that the economy must urgently be stimulated in order to deliver more growth, prosperity and jobs in the medium term;
2014/09/09
Committee: ECON
Amendment 70 #

2014/2059(INI)

Motion for a resolution
Paragraph 2
2. WelcomNotes the ambitious structural reforms implemented by Member Statessome Member States have implemented and are implementing under the macroeconomic adjustment programmes; finds it regrettable that the Member States in the rest of the euro area are less ambitious in modernising their economies, which is one of the reasonse reforms have mostly not proved successful in terms of their impact on overall economic growth; criticises the Heads of State and Government for not yet recognising that they are largely responsible for this lack of success and for still refusing to budge from the failed ‘austerity only’ policy; also criticises the Heads of State and Government for their persistent failure to change course, resulting in the crisis being prolonged, which in turn – combined in some cases with missed opportunities for reform – is now threatening Europe's fcor the lowe countries and holding back growth prospects in the medium and long term;
2014/09/09
Committee: ECON
Amendment 81 #

2014/2059(INI)

Motion for a resolution
Paragraph 3
3. Points out that the euro area and the EU, owing to the current dogmatic insistence on budget cuts and structural reforms and the constant denial of the need for growth stimuli, risk falling further behind other regions in terms of economic development and opportunities, making the EU less attractive for investment from within and outside the EU;
2014/09/09
Committee: ECON
Amendment 91 #

2014/2059(INI)

Motion for a resolution
Paragraph 4
4. Stresses, therefore, the importance of continuing the process of deep and sustainable structural reforms to deliver on growth and jobhanging course, since the policy pursued in recent years has clearly not had the desired success; further stresses that the process of structural reforms needs to be reorganised and realigned, but is still not sufficient on its own to deliver on growth and jobs and must therefore be accompanied by growth impulses and investments; reiterates, in this connection, the fact that the EU cannot compete on costs alone, but needs to invest more in research and development, education and skills, and resource efficiency, both at national and European level; calls on the Commission and the Member States to exploit more fully the potential of promotional banks to stimulate the economy in the European Union;
2014/09/09
Committee: ECON
Amendment 99 #

2014/2059(INI)

Motion for a resolution
Paragraph 5
5. Underlines, once again, the fact that, in the overallmedium to long term, the indebtedness of Member States in the euro area is not only an obstacle to growth but alsoand puts a huge burden on future generations; stresses once again in this connection, however, that fiscal consolidation should begin not just on the expenditure side but also on the revenue side;
2014/09/09
Committee: ECON
Amendment 105 #

2014/2059(INI)

Motion for a resolution
Paragraph 6
6. Reiterates, therefore, the fact that Member States should paytake particular attentioncare, when devising economic policies and reforms as regards the impact on future generations, not to deprive young people of their opportunities from the starisregard their needs for good living conditions and job opportunities; our societies’ future must not be frittered away by non-decisions and political errors in the present;
2014/09/09
Committee: ECON
Amendment 130 #

2014/2059(INI)

Motion for a resolution
Paragraph 9
9. Calls on the Commission to strengthen the European Semester process by, inter alia, making sure that sufficient time and resources are allocated to the design and follow-up to the recommendations, thereby making the recommendations as relevant as possible for EU- and national-level economic policy-making; stresses the importance of involving the European Parliament at an early stage and to the greatest extent possible, so as to prevent – given Parliament’s growing significance and binding role – the emergence of a legitimacy gap in the political opinion- forming process;
2014/09/09
Committee: ECON
Amendment 155 #

2014/2059(INI)

Motion for a resolution
Paragraph 13
13. Recalls, however, that Member States’ track record of implementing the CSRs is very low; believes that there is an inconsistency between European commitment and national implementation of the CSRs by Member States; stresses the importance of ‘national ownership’ by the relevant governments of EU-level commitments; further stresses that in areas where Member State governments do assume national ownership, the consistent involvement of the European Parliament is indispensable;
2014/09/09
Committee: ECON
Amendment 174 #

2014/2059(INI)

Motion for a resolution
Paragraph 16
16. Underlines the fact that a number of CSRs are based on EU legal acts and that failure to act upon them may result in legal procedures; reminds Member States to deliver on their legal obligations under EU law; calls in this connection for the targets to be made more binding and urges that there should be the option of accompanying these targets with positive and negative sanctions;
2014/09/09
Committee: ECON
Amendment 202 #

2014/2059(INI)

Motion for a resolution
Paragraph 20
20. Believes that with regard to the forthcoming European Semester, the a policy of growth-friendly fiscal consolidation should be pursued to improve fiscal sustainability; stresses, however, the fact that special emphasis should be placepromoting growth and investment should be pursued; emphasises that this is a prerequisite for medium- and lon growth-enhancing reforms and policiesg-term fiscal consolidation;
2014/09/09
Committee: ECON
Amendment 250 #

2014/2059(INI)

Motion for a resolution
Paragraph 24
24. Stresses, once again, its call on Member States to simplify their tax systems and reiterates its call to shift taxes from labour to consumption toapital and consumption, in such a way as to offer appropriate incentives and make the use of resources more efficient and sustainable; calls on the Commission to take urgent action and develop a comprehensive strategy based on concrete legislative measures to fight tax fraud and tax evasion; calls on the Member States not to engage in damaging tax competition, to create a common assessment base for corporation tax and to introduce minimum corporation tax rates in the EU;
2014/09/09
Committee: ECON
Amendment 262 #

2014/2059(INI)

Motion for a resolution
Paragraph 25
25. Reiterates the fact that structural reforms must be complemented by measures to boost growth and by longer- term investment in education, research, innovation and sustainable energy; stresses, however, the fact that private investment is more conducive to growth than public investmentdeplores the current tendency to deny the leading role which public investment can play in that connection; notes that this is taking place against the background of general acceptance of the doctrine of fiscal consolidation; emphasises that private investment can also take its cue from public models and thinking and that an increase in private investment will not in itself be enough to lift us out of the crisis;
2014/09/09
Committee: ECON
Amendment 272 #

2014/2059(INI)

Motion for a resolution
Paragraph 26
26. Points out that government-induced growth risks being unsustainable over the medium term; stresses the fact that the already high levels of public debt do not allow for a significant increase in spending, if the reform and consolidation efforts are not to be in vainhigh levels of state indebtedness make it essential that intelligent ways should be found of funding public investments; emphasises that the need for fiscal consolidation makes it all the more important to foster investment in the future by setting the right priorities and developing appropriate new sources of revenue;
2014/09/09
Committee: ECON
Amendment 282 #

2014/2059(INI)

Motion for a resolution
Paragraph 27
27. Believes that the biggest limitation on the EU economy is the low level of private investmentack of a European vision concerning those projects which are vital to our future; remains convinced that the low level of private investment - a level which certainly needs to be increased - can partly be explained by the lack of a template setting out the tasks the EU is to perform in the future and how those tasks should be divided up;
2014/09/09
Committee: ECON
Amendment 293 #

2014/2059(INI)

Motion for a resolution
Paragraph 28
28. Underlines the fact that private investment is also crucial, as it works on the supply and demand side of the economy creating jobs, generating incomes for households, increasing tax revenue, helping governments consolidate and boosting growth;
2014/09/09
Committee: ECON
Amendment 308 #

2014/2059(INI)

Motion for a resolution
Paragraph 31
31. Underlines the fact that a lack ofproblems in access toing finance, particularly for SMEs, poses a huge obstacle to growth in the EU; acknowledges, however, that the causes are many and varied and cannot be traced back solely to supply-side problems;
2014/09/09
Committee: ECON
Amendment 320 #

2014/2059(INI)

Motion for a resolution
Paragraph 32
32. Calls on the Commission urgently to propose measures to complete the internal market for capital to improve the allocation of capital to businesses in order to revitalise the real economy; believes that further alternatives to bank financing are needed, for both large and small and medium-sized undertakings, particularly by improving the conditions for financing through the capital markets; points out, however, that this must not go hand in hand with a watering-down of the safeguards introduced in response to the financial crisis;
2014/09/09
Committee: ECON
Amendment 330 #

2014/2059(INI)

Motion for a resolution
Paragraph 33
33. Stresses the importance of the expedition and coimplementation of the banking union; believes that completion of the banking union must be achieved by means of an insurance and markets unioncan help to restore confidence and stability;
2014/09/09
Committee: ECON
Amendment 344 #

2014/2059(INI)

Motion for a resolution
Paragraph 35
35. Stresses the fact that the European Semester must in no way jeopardise the prerogatives of the European Parliament or those of the national parliaments; underlines the fact that there should be a clear division between EU and national competences, and that Parliament is the seat of accountability at Union level; emphasises that in future, in keeping with the principles underpinning the codecision procedure, the European Parliament should be involved more closely in the work of preparing and organising the European Semester; stresses that every transfer of powers from national to EU level must be matched by a strengthening of the role of the European Parliament, in order to ensure that no democratic deficit is created;
2014/09/09
Committee: ECON
Amendment 41 #

2013/2277(INI)

Motion for a resolution
Recital B
B. whereas, within the Troika, the Commission is responsible at technical level for negotiating the conditions for financial assistance for euro area Member States ‘in liaison with the ECB’ and ‘wherever possible together with the IMF’, the; whereas political responsibility for the Troika's programmes lies primarily with the European heads of state and government and with the relevant finance ministers; whereas that financial assistance is hereinafter referred to as ‘EU- IMF assistance’;
2014/02/03
Committee: ECON
Amendment 51 #

2013/2277(INI)

Motion for a resolution
Recital C
C. whereas the Troika is the basic structure for negotiation between the official lenders and the governments of the recipient countries, as well as for reviewing the implementation of adjustment programmes; whereas for the European side, the final decisions as regards financial assistance and conditionality are taken by the Eurogroupheads of state and finance ministers - thus, they are responsible for failures seen;
2014/02/03
Committee: ECON
Amendment 61 #

2013/2277(INI)

Motion for a resolution
Recital D
D. whereas the Troika together with the Member State concerned is also responsible for the preparation of formal decisions of the Eurogroup;
2014/02/03
Committee: ECON
Amendment 76 #

2013/2277(INI)

Motion for a resolution
Recital G
G. whereas a Memorandum of Understanding (MoU) is, by definition, an agreement between the Member State concerned and the Troika, which results from negotiations and whereby a Member State undertakes to carry out a number of actions in exchange for financial assistance; whereas, however, it is not public knowledge how negotiations have been conducted in practice between the Troika and the relevant Member State and, furthermore, there is no transparency as to the extent to which a Member State seeking assistance has been able to influence the outcome of negotiations; whereas it is stipulated in the ESM Treaty that a Member State requesting assistance from the ESM has also to address a request for assistance to the IMF;
2014/02/03
Committee: ECON
Amendment 93 #

2013/2277(INI)

Motion for a resolution
Recital I
I. whereas the economic situation and recent developments in some Member States have, in particular in Member States seeking assistance, have seriously compromised the quality and volume of employment,. social protection and health and safety standards , this being the direct consequence of unbalanced austerity requirements without growth incentives or investment impetus; whereas the primary objective of the Troika's conditionality policy has been to cut pay and pension levels and to erode social achievements, such as workers' rights, but also, as in Portugal, for example, to privatise collectively owned assets, such as water;
2014/02/03
Committee: ECON
Amendment 149 #

2013/2277(INI)

Motion for a resolution
Recital L
L. whereas the programmes were in the short run primarily meant to avoid a disorderly default and stop speculation on sovereign debt; whereas the medium term aim was to ensure that the money that was lent would be reimbursed, thus avoiding a large financial loss that would rest on the shoulders of the taxpayers of the countries which are providing the assistance and guaranteeing the funds; whereas this also requires the programme to deliver sustainable growth and effective debt reduction in the medium and long term; whereas the programmes were not suited todesigned for comprehensively correcting macroeconomic imbalances which had accumulated sometimes over decades;
2014/02/03
Committee: ECON
Amendment 175 #

2013/2277(INI)

Motion for a resolution
Paragraph 1
1. Considers that the precise triggers for the crises differed in all four Member States; takes the view that in all four cases, however, the financial crisis caused by the financial services industry and the Troika's unbalanced austerity requirements must be regarded as factors aggravating the crisis;
2014/02/03
Committee: ECON
Amendment 192 #

2013/2277(INI)

Motion for a resolution
Paragraph 2
2. Notes that, prior to the beginning of the EU-IMF assistance programme initiated in the spring of 2010, there was a dual fear associated with the ‘insolvency’ and ’non- sustainability’ of the public finances of Greece as a result of the constantly declining competitiveness of the Greek economy and decades of imprudent fiscal policy, with the government deficit reaching 15.7% of GDP in 2009, and the debt-to-GDP ratio continuing on an upward trend since 2003 when it stood at 97.4%, reaching 129,7% in 2009 and 156.9% in 2012;
2014/02/03
Committee: ECON
Amendment 197 #

2013/2277(INI)

Motion for a resolution
Paragraph 3
3. Notes that Greece entered recession in Q4 2008; notes that the country experienced six quarters of negative GDP growth rate in the seven leading to the assistance programme being activated; notes that there is a close correlation between the impact of the financial crisis and the increase in public debt, on the one hand, and between the increase in public debt and the cyclical downturn, on the other, with public debt increasing from EUR 254.7 billion at the end of Q3 2008 to EUR 314.1 billion at the end of Q2 2010; notes that, before the unbalanced austerity measures were implemented, the Greek debt mountain was lower than it is today and that it can be inferred from this that the cutbacks have made Greece's debt position worse and provided no remedy; notes that, as a result of the reluctance of important Member States to grant assistance - inter alia in the light of regional elections - and the resulting doubts as to euro zone cohesion, the costs of the crisis have risen;
2014/02/03
Committee: ECON
Amendment 240 #

2013/2277(INI)

Motion for a resolution
Paragraph 7
7. Notes that the initial agreement between the Greek authorities on the one side and the EU and IMF on the other was adopted on 2 May 2010 in the relevant MoUs containing , the policy conditionality for EU-IMF financial assistance; further notes that, following five reviews and the insufficient success of the first programme, which was the result of a misconceived overemphasis on austerity, a second programme had to be adopted in March 2012, which has been reviewed three times since;
2014/02/03
Committee: ECON
Amendment 250 #

2013/2277(INI)

Motion for a resolution
Paragraph 8
8. Notes that the initial agreement between the Portuguese authorities on the one side and the EU and IMF on the other was adopted on 17 May 2011, partly because no alternative proposals were put forward, in the relevant MoUs containing the policy conditionality for EU-IMF financial assistance; further notes that the Portuguese programme has since been reviewed regularly, leading to the combined eighth and ninth quarterly reviews of Portugal’s economic adjustment programme;
2014/02/03
Committee: ECON
Amendment 276 #

2013/2277(INI)

Motion for a resolution
Paragraph 12
12. Deplores the unpreparedness ofNotes that the EU and international institutions, including the IMF, were not prepared for a sovereign debt crisis of a large magnitude inside a monetary union stemming from the most serious financial crisis since 1929;
2014/02/03
Committee: ECON
Amendment 286 #

2013/2277(INI)

Motion for a resolution
Paragraph 13
13. Acknowledges, however, that the immense challenge the Troika faced leading to the crisis was unique as a result of the poor state of regulation of financial services, large macroeconomic imbalances, and the fact that a number of instruments such as external devaluation were not available due to the constraints of monetary union; notes, moreover, that time was running out, legal obstacles had to be cleared, fear of a melt-down of the euro area was palpable, political agreements had to be reached, the world economy was in a downturn, and a number of countries which were intended to contribute financial support had seen their own public and private debt increase in alarming ways;deleted
2014/02/03
Committee: ECON
Amendment 319 #

2013/2277(INI)

Motion for a resolution
Paragraph 14
14. Regrets the lack of transparency in the MoU negotiations; notes the necessity to evaluate whether formal documents were clearly communicated in due time to the national parliaments and the European Parliament; further notes the possible negative impact of such practices on citizens’ rights and the political situation within the countries concerned;
2014/02/03
Committee: ECON
Amendment 330 #

2013/2277(INI)

Motion for a resolution
Paragraph 15
15. Deplores that recommendations contained in MoUs marke a departure from t odds withe thinking initiated by the Lisbon strategy and the Europe 2020 strategies; points out however that this can be partly explained, even if not fully justified, by the fact that programmes had to be implemented under considerable time pree balanced modernisation policy drawn up in the form of the Lisbon strategy and with the consensus on this issure in a difficult political environmentthe knowledge society;
2014/02/03
Committee: ECON
Amendment 352 #

2013/2277(INI)

Motion for a resolution
Paragraph 16
16. RegretsCondemns the fact that the programmes for Greece, Ireland and Portugal comprise a number of detailed prescriptions for health systems reform and expenditure cuts; regretsexpenditure cuts, particularly in the education, health and social security budgets as well as in funding to promote renewable energy; condemns the fact that the programmes are not bound by the Charter of Fundamental Rights of the European Union and the Treaties, including Art. 168(7) TFEU;
2014/02/03
Committee: ECON
Amendment 383 #

2013/2277(INI)

Motion for a resolution
Paragraph 17
17. Deplores that since 2008 the income distribution inequality has grown above average in the four countries and that cuts in social benefits and rising unemployment are raising poverty level, particularly among the younger generation, are raising poverty levels in a way that is shaming when set against a backdrop of European values;
2014/02/03
Committee: ECON
Amendment 392 #

2013/2277(INI)

Motion for a resolution
Paragraph 18
18. Points to the highly unacceptable level of youth unemployment in the four Member States under assistance programmes; points especially to the sharp increase in youth unemployment in Greece, Cyprus and Portugal; and to the flow of young migrants from Southern Europe, prompted by poverty and a lack of prospects, that risks causing a brain drain from Southern European societies;
2014/02/03
Committee: ECON
Amendment 449 #

2013/2277(INI)

Motion for a resolution
Paragraph 20
20. Underlines that adequate economic models are necessary in order to produce credible and efficient, economic expertise and a rejection of neo-liberal economic thinking are necessary in order to produce growth- promoting, balanced and democratically legitimate adjustment programmes; deplores that adequate statistics and information were not always available; points out that in Greece large- scale fraud was happening in this respect in the years preceding the setting up of the programme and that the authorities at European level, including Heads of State and Government, were not prepared to take appropriate measures to counteract the blatant fraud that was taking place;
2014/02/03
Committee: ECON
Amendment 474 #

2013/2277(INI)

Motion for a resolution
Paragraph 21
21. Notes that financial assistance achieved in the short run the avoidance of a disorderly default on sovereign debt that would have had extremely severe economic and social consequences, as well as spill-over effects for other countries of an incalculable magnitude, and possibly the forced exit of countries from the euro area; further notes that there is no guarantee this will be avoided in the long run; also notes that the financial assistance and adjustment programme in Greece have not prevented an orderly default nor contagion of the crisis to other Member States; deplores the economic and social downturn which became evident when the fiscal and macroeconomic corrections were put into placeoccurred as a result of the misguided fiscal and macroeconomic measures;
2014/02/03
Committee: ECON
Amendment 493 #

2013/2277(INI)

Motion for a resolution
Paragraph 22
22. Notes that, although from the onset the Troika published comprehensive documents on the diagnosis, the strategy to overcome the problems, a set of policy measures elaborated together with the national government concerned, and economic forecasts, all of which are updated on a regular basis, these documents did not permit the public to form an overall view of the negotiations;
2014/02/03
Committee: ECON
Amendment 512 #

2013/2277(INI)

Motion for a resolution
Paragraph 24
24. Regrets that the reduction of structural deficits in all programme countries since the start of their respective assistance programmes has not yet led to a reduction in the ratios of public debt to GDP; underlines that, owing to the one-sided demands for savings, the ratio of public debt to GDP has instead sharply increased in all programme countries;
2014/02/03
Committee: ECON
Amendment 538 #

2013/2277(INI)

Motion for a resolution
Paragraph 26
26. Points out that while the IMF’s stated objective in its assistance operations within the frame of the Troika is internal devaluation, the Commission has never clearly endorsed this objective; notes that the objective emphasised by the Commission in all four programme countries under enquiry has rather been fiscal consolidationto make one-sided budget cuts without growth stimuli;
2014/02/03
Committee: ECON
Amendment 546 #

2013/2277(INI)

Motion for a resolution
Paragraph 27
27. Considers that too little attention has been given to alleviating the negative impact of adjustment strategies in the programme countries, for example unemployment, social inequalities, and the fact that the burden has been placed mainly on lower income groups, whereas the highest income groups have been almost completely spared, and that there has been no political will to address these shortcomings in the Troika negotiations;
2014/02/03
Committee: ECON
Amendment 562 #

2013/2277(INI)

Motion for a resolution
Paragraph 28
28. Stresses that national-level ownership is important, and that failure to implement agreed measures has consequences in terms of the expected results; also points out, however, that the failures to implement requirements are attributable in part to the Troika’s ill-conceived and socially severely lopsided programmes; maintains in addition that the conditions might have been accepted much more willingly within society if the higher income groups in the programme countries, as well as the financial industry, had been made, through a financial transaction tax, to bear a share of the costs brought about by the crisis and if resolute action had been taken at European level to stamp out tax evasion and fraud;
2014/02/03
Committee: ECON
Amendment 597 #

2013/2277(INI)

Motion for a resolution
Paragraph 29
29. Notes that, in the Troika’eyes of citizens mandate has been perceived as being the national parliaments and the European Parliament, the Troika’s mandate has remained totally unclear and lackingdevoid of transparency;
2014/02/03
Committee: ECON
Amendment 608 #

2013/2277(INI)

Motion for a resolution
Paragraph 30
30. Points out that due to its ad hoc natureone reason that there was no appropriate legal basis for setting up the Troika on the basis of Union primary law lay in its ad hoc nature, but another reason was that Heads of State or Government prefer intergovernmental arrangements to Community systems; points out that crisis machinery set up at intergovernmental level lies completely outside democratic control by the European Parliament;
2014/02/03
Committee: ECON
Amendment 626 #

2013/2277(INI)

Motion for a resolution
Paragraph 31
31. Notes the admission by the President of the Eurogroup before the European Parliament that the Eurogroup endorsed the recommendations of the Troika without considering their specific policy implications and without thoroughly addressing itself in the proper manner to the details of the programme proposals and the implications;
2014/02/03
Committee: ECON
Amendment 660 #

2013/2277(INI)

Motion for a resolution
Paragraph 34
34. Notes that the ECB’s role is not sufficiently defined, as it is stated in the ESM Treaty that the Commission should work ‘in liaison with the ECB’, thus reducing the ECB’s role to that of a provider of expertise; further notes that the ECB mandate is limited by the TFEU to monetary policy as well as to stabilisation of the European economy and that the involvement of the ECB in any matter related to budgetary, fiscal and structural policies is therefore on uncertain legal ground;
2014/02/03
Committee: ECON
Amendment 673 #

2013/2277(INI)

Motion for a resolution
Paragraph 35
35. Points to the generaloverly weak democratic accountability of the Troika in programme countries at national level; notes however that this democratic accountability varies between countries, depending on the will of national executives;
2014/02/03
Committee: ECON
Amendment 693 #

2013/2277(INI)

Motion for a resolution
Paragraph 36
36. Notes that formal decisions are made by both the Eurogroup and the IMF, which are consequently politically responsible for the Troika’s actions, with a crucial role now given to the ESM as it is the organisation responsible for deciding on financial assistance, thus puttingimplying that governments, including those of the Member States directly concerned, should be at the centre of any decisions taken;
2014/02/03
Committee: ECON
Amendment 705 #

2013/2277(INI)

Motion for a resolution
Paragraph 37
37. Points toDeplores the fact that the ESM is intergovernmental by nature, is bound by the unanimity rule, and is subject to political influence exerted by finance ministers, heads of state and government as well as national parliaments;
2014/02/03
Committee: ECON
Amendment 729 #

2013/2277(INI)

Motion for a resolution
Paragraph 38
38. Reiterates its call for all decisions related to the strengthening of the EMU to be taken on the basis of the Treaty on European Union; takes the view that, just as they have done in the past, any departure from the Community method and increased use of intergovernmental agreements would divide and weaken the Union, including the euro area;
2014/02/03
Committee: ECON
Amendment 781 #

2013/2277(INI)

Motion for a resolution
Paragraph 39
39. Stresses that the ESM should evolve towards Community-method management as provided for in the ESM Treatyinto a European Monetary Fund based on the Community method and demands that the ESM be made accountable to the European Parliament including with respect to decisions to grant financial assistance, in order to exert democratic accountability over the ESM; calls for the ESM financial machinery to be integrated into the European budget;
2014/02/03
Committee: ECON
Amendment 806 #

2013/2277(INI)

Motion for a resolution
Paragraph 41
41. Calls for thegreater involvement of social partners in the appropriate form in the design and implementation of adjustment programmes, current and future;
2014/02/03
Committee: ECON
Amendment 825 #

2013/2277(INI)

Motion for a resolution
Paragraph 42
42. Demands that the Troika take stock of the current debate on fiscal multipliers and consider the revision ofrevise the MoUs on the basis of the latest empirical results, with particular reference to growth stabilisers;
2014/02/03
Committee: ECON
Amendment 847 #

2013/2277(INI)

Motion for a resolution
Paragraph 43
43. Is concerned, in particular, to improve the accountability of the Commission when it acts in its capacity as a member of the Troika; requests that the Commission representative(s) in the Troika should be heard in the European Parliament before taking up their duties and should be subject to regular reporting to the European Parliament; reform programmes on the European level (as MoU) should be legitimised by decisions of the European Parliament.
2014/02/03
Committee: ECON
Amendment 18 #

2013/2157(INI)

Motion for a resolution
Paragraph 1
1. Notes thate first signs of a slow economic recovery in the EU is under way; believes, however, that the recovery is still fragile and needs to be sustainedaccompanied by a European investment drive in order to deliver more growth and jobs in the medium term;
2014/01/09
Committee: ECON
Amendment 27 #

2013/2157(INI)

Motion for a resolution
Paragraph 2
2. Believes that the EU economy as a whole needs to further boost its competitiveness in the global economy, particularly by increasing competition in the product and services markets to enhance productivity and to lower prices, and by keeping labour costs in line with productivity;deleted
2014/01/09
Committee: ECON
Amendment 32 #

2013/2157(INI)

Motion for a resolution
Paragraph 3
3. Welcomes the ambitious structural reforms implemented by those Member States that have experienced serious difficulties; encourages the rest of the euro area to be equally ambitious and to make their economies more competitive in order to increase growth and employment;deleted
2014/01/09
Committee: ECON
Amendment 39 #

2013/2157(INI)

Motion for a resolution
Paragraph 4
4. Underlines the importance of continuing the process of deep and sustainable structural reforms; stresses that the EU cannot compete on costs alone, but needswarns that the solution to the crisis does not lie in unilateral and sharp reductions in wages and pensions and that, on the contrary, these measures exacerbate the crisis; calls for urgent action, at both national and European level, to invest more in research and development, education and skills, and resource efficiency, at both national and European level;
2014/01/09
Committee: ECON
Amendment 51 #

2013/2157(INI)

Motion for a resolution
Paragraph 6
6. Calls on the Member States, therefore, to pay particular attention, when devising economic policies and reforms, to the impact on the young generation of Europeans and on future generations, so as not to depriverob young people of opportunities from the starttheir prospects;
2014/01/09
Committee: ECON
Amendment 57 #

2013/2157(INI)

Motion for a resolution
Paragraph 8
8. Points out that EU financial assistance to certain Member States, being a combination of solidarity and conditionality, has proved to be successful when there is strong ownership and commitment to reform; urges the Commission and the Member StatesUrges the Commission and the Member States to bring financial assistance under the Community framework; notes that European crisis management with its intergovernmental structures has to date escaped effective democratic control and that the instruments and decision-making bodies created to deal with crises, such as the ESM rescue fund and the Troika, showever, to bring financial assistance under the Community frameworkuld therefore be brought under Community law and controlled by the European Parliament;
2014/01/09
Committee: ECON
Amendment 64 #

2013/2157(INI)

Motion for a resolution
Paragraph 9
9. Underlines the fact that Economic and Monetary Union (EMU) is far from complete, and remindsCalls on the Commission to put forward the proposals for the Ccommisspletion of its obligations and commitments to enhance economic convergence and strengthen competitiveness in the EU; believes that this could best be achieved if the Commission were to finally put forward proposals for the completion of EMU as outlined in its blueprint on a deep and genuine EMUEMU as outlined in its blueprint on a deep and genuine EMU, particularly with regard to the introduction of a debt redemption fund and financial incentives for economic reforms;
2014/01/09
Committee: ECON
Amendment 76 #

2013/2157(INI)

Motion for a resolution
Paragraph 11
11. Agrees with the Commission that the Member States need to continue to pursue growth-friendly fiscal consolidation; calls on Member States with sufficient fiscal space to reduce taxes and social security contributions with a view to stimulating privateprovide incentives for quality growth and new jobs through additional investment;
2014/01/09
Committee: ECON
Amendment 92 #

2013/2157(INI)

Motion for a resolution
Paragraph 14
14. Stresses that structural reforms urgently need to be complemented by longer-term investment in education, research, innovation and sustainable energy; believes that public-private partnerships are more successful in delivering growth than public investment programmes alone;
2014/01/09
Committee: ECON
Amendment 105 #

2013/2157(INI)

Motion for a resolution
Paragraph 16
16. Stresses that access to finance, particularly for SMEs, is one of the biggest obstacles to growth in the EU; believes that more alternatives to bank financing are needed, especially by improvingthrough the business environment for venture capital but also, more broadly, by improving the efficient allocation of capital through capital markete of development banks;
2014/01/09
Committee: ECON
Amendment 109 #

2013/2157(INI)

Motion for a resolution
Paragraph 17
17. Reiterates the importance of the completion of the Single Market for growth in the EU; believes that the Member States and the Commission are not delivering on their commitment to complete the Single Market and emphasises in this context that the fundamental social rights must be protected and strengthened;
2014/01/09
Committee: ECON
Amendment 124 #

2013/2157(INI)

Motion for a resolution
Paragraph 21
21. Believes that overall the AGS is not detailed enough and does not provide the means to achieve its objectives; considers that action to combat the social imbalance can, however, only be effective if the objectives of economic policy coordination are implemented with a degree of commitment that is comparable to the monitoring of fiscal policy; stresses that Member States should therefore commit to clearly defined objectives such as the reduction of youth unemployment or expenditure on research and development in the context of the European Semester; considers that the EU institutions should monitor the progress of reforms and accompany them with financial incentives;
2014/01/09
Committee: ECON
Amendment 130 #

2013/2157(INI)

Motion for a resolution
Paragraph 23
23. Points out that the objective of the macroeconomic imbalance procedure is to prevent the effects of ill-designed national policies from spilling over into other euro area Member States; is concerned that the Commission, in its reading of the scoreboard, does not take sufficient account of the fact that or ill-designed European policies such as misguided decisions by the Troika from spilling over into other euro area and its Member States are open economies;
2014/01/09
Committee: ECON
Amendment 138 #

2013/2157(INI)

Motion for a resolution
Paragraph 24
24. Invites the Commission to assess intra- EU imbalances in particular; points out that, so as not to undermine overall EU competitivenessthe smooth functioning of the EU with regard to the current account balance, the Commission needs to look atregard the current account surplus of a Member State relative to the rest of the euro area as just as problematic as current account deficits;
2014/01/09
Committee: ECON
Amendment 148 #

2013/2157(INI)

Motion for a resolution
Paragraph 29
29. Stresses that the European Semester must in no way jeopardise the prerogatives of the European Parliament and of the national parliaments; underlines the fact that there should be a clear division between EU and national competences and that the European Parliament is the seat of accountability at Union level European Parliament is the seat of accountability at Union level and that this principle should also be enforced in everyday political life;
2014/01/09
Committee: ECON
Amendment 150 #

2013/2157(INI)

Motion for a resolution
Paragraph 30
30. Stresses the need to strengthen the democratic accountability to the European Parliament and to the national parliaments of essential elements of the euro area’s operation, such as the European Stability Mechanism, Eurogroup decisions and the monitoring and evaluation of financial assistance programmes with the aim of ensuring that the European Parliament and the Council are equal actors;
2014/01/09
Committee: ECON
Amendment 12 #

2013/2021(INI)

Motion for a resolution
Recital B
B. whereas in the five years since the 2008 global economic and financial crisis, the EU economy has remained in a state of recession, with Member States providing subsidies and implicit guarantees to banks; whereas the vicious circle involving the solvency of states and banks must be broken once and for all;
2013/04/18
Committee: ECON
Amendment 30 #

2013/2021(INI)

Motion for a resolution
Recital C a (new)
Ca. whereas profits in the financial sector were often privatised but risks and losses were nationalised; whereas in a social market economy, risk and liability must go hand in hand;
2013/04/18
Committee: ECON
Amendment 82 #

2013/2021(INI)

Motion for a resolution
Recital H a (new)
Ha. whereas decentralised local and regional institutions within the banking sector in the Member States have shown themselves to be stable and beneficial in terms of financing the real economy;
2013/04/18
Committee: ECON
Amendment 91 #

2013/2021(INI)

Motion for a resolution
Recital I a (new)
Ia. whereas supervisory and resolution authorities must be given the requisite authority to be able effectively to remove impediments to the resolvability of credit institutions and the banks must be forced to prove their resolvability; whereas the introduction of compulsory recovery and resolutions regimes provides an opportunity to influence the banking structure, reduce the complexity of institutions and restrict or terminate business sectors and products;
2013/04/18
Committee: ECON
Amendment 102 #

2013/2021(INI)

Motion for a resolution
Recital J a (new)
Ja. whereas the EU banking sector faces far-reaching structural changes resulting from changes in the market situation and comprehensive regulatory reforms such as implementation of the Basel III rules;
2013/04/18
Committee: ECON
Amendment 177 #

2013/2021(INI)

Motion for a resolution
Paragraph 6
6. Considers that the core principle of banking reform must be to deliver a safe, stable and efficient banking system that serves the needs of the real economy, customers and consumers; takes the view that structural reform must stimulate economic growth by supporting the provision of credit to the economy, in particular to SMEs and start-ups, provide greater resilience against potential financial crises, restore trust and confidence in banks, harmonise liability and risk and remove risks to public finances;
2013/04/18
Committee: ECON
Amendment 196 #

2013/2021(INI)

Motion for a resolution
Paragraph 7
7. Considers that an effective banking system must deliver a change in banking culture in order to reduce complexity, enhance competition, limit interconnectedness between risky and commercial activities, improve corporate governance, create a responsible remuneration system, allow effective bank resolution and recovery, reinforce bank capital and deliver credit and provide important service functions to the real economy;
2013/04/18
Committee: ECON
Amendment 229 #

2013/2021(INI)

Motion for a resolution
Paragraph 8
8. Urges the Commission to come forward with a proposal for mandatory separation of banks’the retail and investment activities of those banks which engage in significant commercial activity;
2013/04/18
Committee: ECON
Amendment 247 #

2013/2021(INI)

Motion for a resolution
Paragraph 9
9. Urges the Commission to come forward with a proposal for such mandatory separation through the establishment of a thorough, transparent and credible ‘ring fence’ around bank activities that are vital for the real economy, such as those relating to credit functions, payment systems and deposits; takes the view that in the event of a bank failure, the ring fence must ensure that the retail entity continues business unaffected by operational problems, financial losses, funding shortages or reputational damage resulting from the resolution or insolvency of the investment entity; considers a holding structure to be one way of ensuring that the requisite ring fence is put in place under one roof; urges the Commission to investigate how the joint and several liability of individual business units can be effectively brought to an end and economies of scope and scale put into practice with a holding structure in place;
2013/04/18
Committee: ECON
Amendment 280 #

2013/2021(INI)

Motion for a resolution
Paragraph 10 a (new)
10a. Urges the Commission to investigate which commercial activities should be permitted for banks, and on what scale, to enable them effectively to support the real economy and to ensure the stability of individual institutions and of the financial sector overall;
2013/04/18
Committee: ECON
Amendment 346 #

2013/2021(INI)

Motion for a resolution
Paragraph 13 a (new)
13a. Calls on the Commission to examine the extent to which the Volcker Rules applied in the USA and the recommendations of the Vickers Commission which are implemented in the UK could be applied EU-wide; considers it necessary to establish a separate EU banking system which takes into account national structures and social models which have evolved over time;
2013/04/18
Committee: ECON
Amendment 470 #

2013/2021(INI)

Motion for a resolution
Paragraph 30
30. Urges the Member States to ensure that their national supervisors havcreate the clear objective of promotingonditions for effective competition in their banking sectors in order to create greater diversity and customer- orientation;
2013/04/18
Committee: ECON
Amendment 268 #

2013/0314(COD)

Proposal for a regulation
Recital 32
(32) In order for users of benchmarks to make appropriate choices of, and understand the risks of, benchmarks, they need to know what the benchmark measures and their vulnerabilities. Therefore the benchmark administrator should publish a statement specifying these elements as well as publish the input data used to determine the benchmark. Since the publication of sensitive input data may lead to competitive disadvantages for companies, publication may under certain conditions be suspended by the competent authority.
2015/01/23
Committee: ECON
Amendment 516 #

2013/0314(COD)

Proposal for a regulation
Article 16 – paragraph 1 a (new)
(1a) If the adverse consequences for the contributors are so great that they bring the compilation of data for calculating benchmarks to a halt, the administrator must inform the competent authorities of this. The competent authority can then decide to suspend the obligation to publish.
2015/01/23
Committee: ECON
Amendment 101 #

2013/0306(COD)

Proposal for a regulation
Recital 2 a (new)
(2a) MMFs accept funding with deposit- like characteristics, perform maturity and liquidity transformation and engage in credit risk transfer. Hence, they are shadow banks in the strict sense of the word.
2015/01/12
Committee: ECON
Amendment 108 #

2013/0306(COD)

Proposal for a regulation
Recital 5
(5) Asset managers, helped by sponsors, may decide to provide discretionary support to maintain the liquidity and the stability of their MMFs. Sponsors are often forced to support their sponsored MMFs when losing value due to the reputational risk and fear that panic could spread into the sponsor other businesses. Depending on the size of the fund and the extent of redemption pressure, sponsor support may reach proportions that exceed their readily available reserves. In the case of banks in particular, this can lead to panic spreading to account holders who then wish to withdraw their deposits as quickly as possible, posing a risk that the bank may become insolvent. Therefore, it is important to provide for a framework of uniform rules in order to prevent the failure of the sponsor and risk contagion to other businesses and other entities that sponsor MMFs.
2015/01/12
Committee: ECON
Amendment 110 #

2013/0306(COD)

Proposal for a regulation
Recital 6 a (new)
(6a) In view of the many bank-like characteristics of MMFs and the systemic interconnections to bank stability, MMFs should be subject to the supervision of the banking supervisors.
2015/01/12
Committee: ECON
Amendment 250 #

2013/0306(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 16 – point c a (new)
(ca) with respect to Article 15a of this Regulation the authority designated by a Member State in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and Directive 2013/36/EU for credit institutions in the MMF's home Member State;
2015/01/12
Committee: ECON
Amendment 251 #

2013/0306(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 16 – point c b (new)
(cb) With respect to Article 15a and if the authority referred to in point c a is located in a participating Member State and any of the following conditions is met: (i) the total value of the MMF's assets exceeds EUR 10 billion or (ii) following a notification by any competent authority that it considers such a fund of significant relevance with regard to the domestic financial stability or economy, the ECB takes a decision confirming such significance following a comprehensive assessment by the ECB of that fund, the SSM and within the SSM the ECB as described in Regulation (EU) No 1024/2013 may, on behalf of its own assessment of necessity, act as the competent authority as regards to this Regulation and, thereby, contribute to undistorted conditions of competition within the financial sector.
2015/01/12
Committee: ECON
Amendment 255 #

2013/0306(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 22 a (new)
(22a) 'participating Member State' means a Member State whose currency is the euro or a Member State whose currency is not the euro which has established a close cooperation in accordance with Article 7 of Regulation (EU) No 1024/2013.
2015/01/12
Committee: ECON
Amendment 397 #

2013/0306(COD)

Proposal for a regulation
Article 15 a (new)
Article 15 a Harmonisation of capital buffers and liquidity requirements in the financial sector 1. The competent authority shall impose capital buffers and liquidity requirements according to the standards laid out in Regulation (EU) No 575/2013 and Directive 2013/36/EU. 2. If the authority referred to in Article 2 paragraph 1 point 16 point c a acts as the competent authority, it shall submit its decisions and the related information regarding its regulatory activities according to paragraph 1 to the SSM. 3. Article 1 of Regulation (EU) No 575/2013 is hereby amended as follows: "This Regulation lays down uniform rules concerning general prudential requirements that institutions supervised under Directive 2013/36/EU as amended shall comply with in relation to the following items: (a) own funds requirements relating to entirely quantifiable, uniform and standardised elements of credit risk, market risk, operational risk and settlement risk; (b) requirements limiting large exposures; (c) after the delegated act referred to in Article 460 has entered into force, liquidity requirements relating to entirely quantifiable, uniform and standardised elements of liquidity risk; (d) reporting requirements related to points (a), (b) and (c) and to leverage; (e) public disclosure requirements. This Regulation does not govern publication requirements for competent authorities in the field of prudential regulation and supervision of institutions as set out in Directive 2013/36/EU as amended." 4. Article 2 of Directive 2013/36/EU is hereby amended as follows: Paragraph 1 is replaced by the following: "This directive shall apply to institutions. As regards to capital buffers and liquidity requirements it also shall apply to money market funds." 5. Article 3 of Directive 2013/36/EU is hereby amended as follows: Point 2a shall be added to paragraph 1 after point 2 and read as follows: "'money market fund' means a fund within the scope of Regulation XXX (MMF Regulation);".
2015/01/12
Committee: ECON
Amendment 729 #

2013/0306(COD)

Proposal for a regulation
Article 37 – paragraph 5 a (new)
(5a) Investors and potential investors shall be given clear information about liquidity fees and redemption gates in accordance with the provisions of Article 29a.
2015/01/09
Committee: ECON
Amendment 752 #

2013/0306(COD)

Proposal for a regulation
Article 42 – paragraph 2
2. Competent authorities, including authorities designated by a Member State in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and Directive 2013/36/EU for credit institutions in the MMF's home Member State, SSM and ECB, and ESMA shall cooperate with each other for the purpose of carrying out their respective duties under this Regulation in accordance with Regulation (EU) No 1095/2010.
2015/01/09
Committee: ECON
Amendment 754 #

2013/0306(COD)

Proposal for a regulation
Article 42 – paragraph 3
3. Competent authorities, including authorities designated by a Member State in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and Directive 2013/36/EU for credit institutions in the MMF's home Member State, SSM and ECB, and ESMA shall exchange all information and documentation necessary to carry out their respective duties under this Regulation in accordance with Regulation (EU) No 1095/2010, in particular to identify and remedy breaches of this Regulation.
2015/01/09
Committee: ECON
Amendment 350 #

2013/0264(COD)

Proposal for a directive
Article 53 – paragraph 1
1. Where, for the use of a given payment instrument, the payee requests a charge or offers a reduction, the payee shall inform the payer thereof prior to the initiation of the payment transaction.
2014/01/28
Committee: ECON
Amendment 353 #

2013/0264(COD)

Proposal for a directive
Article 53 – paragraph 2
2. Where, for the use of a given payment instrument, a payment service provider or a third party requests a charge, he shall inform the payment service user thereof prior to the initiation of the payment transaction.deleted
2014/01/28
Committee: ECON
Amendment 355 #

2013/0264(COD)

Proposal for a directive
Article 53 – paragraph 2 a (new)
2a. Where a payment service provider is entitled to pass on third party costs, the payer shall not be obliged to pay for them if prior to initiating this payment information on the full amount was not given.
2014/01/28
Committee: ECON
Amendment 359 #

2013/0264(COD)

Proposal for a directive
Article 55 – paragraph 1
1. The payment service provider may not charge the payment service user for fulfilment of its information obligations or corrective and preventive measures under this Title, unless otherwise specified in Articles 70(1), 71(5) and 79(2). Those charges shall be agreed between the payment service user and the payment service provider and shall be appropriate and in line with the payment service provider’s actual costs. Upon request payment service providers shall disclose their actual costs.
2014/01/28
Committee: ECON
Amendment 411 #

2013/0264(COD)

Proposal for a directive
Article 58 – paragraph 2 a (new)
2a. Personalised security features used by the payment service user to access his or her online banking application shall not be used to initiate payment orders through third party payment service providers.
2014/01/20
Committee: ECON
Amendment 451 #

2013/0264(COD)

Proposal for a directive
Article 64 – paragraph 2
2. Where a payment service user denies having authorised an executed payment transaction, the use of a payment instrument recorded by the payment service provider, including the third party payment service provider as appropriate, shall in itself not necessarily be sufficient to prove either that the payment transaction was authorised by the payer or that the payer acted fraudulently or failed with intent or gross negligence to fulfil one or more of the obligations under Article 61. Supporting evidence shall be given by the payment service provider, including the third party provider as appropriate, to prove fraud or gross negligence on part of the payer.
2014/01/20
Committee: ECON
Amendment 466 #

2013/0264(COD)

Proposal for a directive
Article 66 – paragraph 1 – subparagraph 1
By way of derogation from Article 65 the payer may be obliged to bear the losses relating to any unauthorised payment transactions, up to a maximum of EUR 50, resulting from the use of a lost or stolen payment instrument or from the misappropriation of a payment instrument. This shall not apply if the loss, theft or misappropriation of a payment instrument was not detectable to the payer prior to a payment.
2014/01/20
Committee: ECON
Amendment 474 #

2013/0264(COD)

Proposal for a directive
Article 66 – paragraph 2 a (new)
2a. The payer shall not bear any financial consequences resulting from use of a lost, stolen or misappropriated payment instrument if the resulting unauthorised payment was made possible by a known defraud method or a security breach, except where the payer himself has acted fraudulently.
2014/01/20
Committee: ECON
Amendment 480 #

2013/0264(COD)

Proposal for a directive
Article 67 – paragraph 1 – subparagraph 1 – introductory part
Member States shall ensure that a payer is entitled to a refund from the payment service provider of an authorised payment transaction initiated by or through a payee which has already been executed, if the following conditions are met:.
2014/01/20
Committee: ECON
Amendment 483 #

2013/0264(COD)

Proposal for a directive
Article 67 – paragraph 1 – subparagraph 1 – point a
(a) the authorisation did not specify the exact amount of the payment transaction when the authorisation was made;deleted
2014/01/20
Committee: ECON
Amendment 486 #

2013/0264(COD)

Proposal for a directive
Article 67 – paragraph 1 – subparagraph 1 – point b
(b) the amount of the payment transaction exceeded the amount the payer could reasonably have expected taking into account the previous spending pattern, the conditions in the framework contract and relevant circumstances of the case.deleted
2014/01/20
Committee: ECON
Amendment 489 #

2013/0264(COD)

Proposal for a directive
Article 67 – paragraph 1 – subparagraph 2
At the payment service provider's request, the payer shall bear the burden to prove such conditions are met.deleted
2014/01/20
Committee: ECON
Amendment 492 #

2013/0264(COD)

Proposal for a directive
Article 67 – paragraph 1 – subparagraph 3
The refund shall consist of the full amount of the executed payment transaction. This includes that the credit value date for the payer's payment account is no later than the date the amount had been debited.deleted
2014/01/20
Committee: ECON
Amendment 493 #

2013/0264(COD)

Proposal for a directive
Article 67 – paragraph 1 – subparagraph 4
For direct debits the payer has an unconditional right for refund within the time limits set in Article 68, except where the payee has already fulfilled the contractual obliga. The refund shall consist of the full amount of the executed payment transactions and the services have already been received or the goods have already been consumed by the payer. At the payment service provider's request, the payee shall bear the burden to prove that the conditions referred to in the third subparagraphcredit value date for the payer's payment account shall be no later than the date the amount has been debited. The underlying legal claim of a payee shall not be altered by the refund of a payment.
2014/01/20
Committee: ECON
Amendment 519 #

2013/0264(COD)

Proposal for a directive
Article 79 – paragraph 5 a (new)
5a. In case an attempt to recover the funds in accordance with paragraph 3 fails, the payment service provider of the wrongly addressed payee shall provide all necessary contact information of the recipient of the funds to the payer to allow further proceedings.
2014/01/20
Committee: ECON
Amendment 89 #

2013/0253(COD)

Proposal for a regulation
Recital 4 a (new)
(4a) The link between states and the banking sector, which has had devastating effects on the economy throughout the Union during the crisis, should be eliminated in order to reduce the current fragmentation of financial markets. Although the banking union will have a stable foundation only once all three pillars have been established, i.e. once a common European mechanism for deposit guarantee schemes has been set up, the creation of a single resolution mechanism already represents a significant step in that direction.
2013/10/22
Committee: ECON
Amendment 113 #

2013/0253(COD)

Proposal for a regulation
Recital 14
(14) Mirroring the scope of the Council Regulation (EU) No …/…, a single resolution mechanism should cover all credit institutions established in the participating Member States. However, within the framework of aIn a banking union liability and supervision should apply at the same level. Banks which are subject to direct supervision at European level should also be resolved at European level. The single resolution mechanism, it should be possible to resolve directly any credit institution of a participating Member State in order to avoid asymmetries within the internal market in the treatment of failing institutions and creditors during a resolution processtherefore cover all credit institutions which are subject to direct supervision by the ECB. To the extent that parent undertakings, investment firms and financial institutions are included in the consolidated supervision by the ECB, they should be included in the scope of the single resolution mechanism. Although the ECB will not supervise those institutions on a solo basis, it will be the only supervisor that will have a global perception of the risk to which a group, and indirectly the individual members, is exposed to. To exclude entities which form part of the consolidated supervision within the scope of the ECB from the scope of the single resolution mechanism would make it impossible to plan for the resolution of banking groups and to adopt a group resolution strategy, and would make any resolution decisions much less effective.
2013/10/22
Committee: ECON
Amendment 234 #

2013/0253(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point a
(a) credit institutions established in participating Member Statedirectly supervised by the European Central Bank in accordance with Article 6 paragraph 4 of Council Regulation (EU)No[ ] conferring specific tasks on the ECB concerning policies relating to the prudential supervision of credit institutions;
2013/10/22
Committee: ECON
Amendment 273 #

2013/0253(COD)

Proposal for a regulation
Article 5 – paragraph 3
3. Subject to the provisions of this Regulation, as referred to in Art. 2, the national resolution authorities of the participating Member State shall act on the basis of and in conformity with the relevant provisions of national law, as harmonized by Directive [ ].
2013/10/22
Committee: ECON
Amendment 528 #

2013/0253(COD)

Proposal for a regulation
Article 16 – paragraph 2 – point b
(b) having regard to timing and other relevant circumstances, there is no reasonable prospect that any alternative private sector, including measures taken in the context of deposit or institutional guarantee schemes, or supervisory action (including early intervention measures or the write down or conversion of capital instruments in accordance with Article 14), taken in respect of the entity, or a measure to wind up the institution taken by the national resolution authorities, would prevent its failure within a reasonable timeframe;
2013/10/22
Committee: ECON
Amendment 612 #

2013/0253(COD)

Proposal for a regulation
Article 18 – paragraph 2 – point b
(b) having regard to timing and other relevant circumstances, there is no reasonable prospect that any action, including alternative private sector, including measures taken in the context of deposit or institutional guarantee schemes, or supervisory action (including early intervention measures), other than the write down or conversion of capital instruments, either singly or in combination with resolution action, would prevent the failure of that entity or group within a reasonable timeframe.
2013/10/22
Committee: ECON
Amendment 924 #

2013/0253(COD)

Proposal for a regulation
Article 65 – paragraph 1
1. In a period no longer than 10 years after the entry into force of this Regulation, the available financial means of the Fund shall reach at least 1.5% of the amount of deposits of all credit institutions authoriscovered inby the participating Member Statesis Regulation which are guaranteed under Directive 94/19/EC.
2013/10/22
Committee: ECON
Amendment 943 #

2013/0253(COD)

Proposal for a regulation
Article 66 – paragraph 1 – subparagraph 1
The individual contribution of each institution shall be raised at least annually and shall be calculated pro-rata to the amount of its liabilities excluding own funds and covered deposits, with respect to the total liabilities, excluding own funds and covered deposits, of all the institutions authorisedsubject to this Regulation as referred to in Article 2 in the territories of the participating Member States.
2013/10/22
Committee: ECON
Amendment 965 #

2013/0253(COD)

Proposal for a regulation
Article 67 – paragraph 1
1. Where the available financial means are not sufficient to cover the losses, costs or other expenses incurred by the use of the Fund, the Board shall raise in accordance with Article 62 extraordinary ex post contributions from the institutions authorisedsubject to this Regulation as referred to in Art. 2 in the territories of participating Member States, in order to cover the additional amounts. These extraordinary contributions shall be allocated between institutions in accordance with the rules set out in Article 66.
2013/10/22
Committee: ECON
Amendment 282 #

2013/0139(COD)

Proposal for a directive
Article 4 – paragraph 1 – subparagraph 1a (new)
In the event of a change to the fees to be paid, payment service providers shall inform consumers of the reason for, and amount of, the change in writing.
2013/09/10
Committee: ECON
Amendment 310 #

2013/0139(COD)

Proposal for a directive
Article 4 – paragraph 6
6. The fee information document and the glossary shall be made available free of charge at all times by payment service providers on a durable medium at premises accessible to consumers and shall be made available in electronic form on their websites, where it must be easy to find.
2013/09/10
Committee: ECON
Amendment 340 #

2013/0139(COD)

Proposal for a directive
Article 5 – paragraph 2 – point c a (new)
(ca) the overdraft interest rate and the total amount of overdraft interest paid during the relevant period.
2013/09/10
Committee: ECON
Amendment 516 #

2013/0139(COD)

Proposal for a directive
Article 13 – paragraph 2
2. The information shall be provided free of charge on a durable medium at all branches of the payment service providers accessible to consumers and be available and easily findable in electronic form on their websites at all times.
2013/09/10
Committee: ECON
Amendment 523 #

2013/0139(COD)

Proposal for a directive
Article 14 – paragraph 1
Member States shall ensure that consumers legally resident in the Union are not discriminated against, in particular by reason of their nationality or place of residence when applying for or accessing a payment account within the Union.
2013/09/10
Committee: ECON
Amendment 529 #

2013/0139(COD)

Proposal for a directive
Article 15 – paragraph 1
1. Member States shall ensure that at least onell payment service provider in their territory offerss who operate branches or establishments in the respective territory and whose product range includes, in principle, payment accounts with features as specified in Article 16, offer a payment account with basic features to consumers. Member States shall ensure that payment accounts with basic features are not only offered by payment service providers that provide the account solely with online banking facilities.
2013/09/10
Committee: ECON
Amendment 550 #

2013/0139(COD)

Proposal for a directive
Article 15 – paragraph 2
2. Member States shall ensure that consumers legally resident in the Union and persons whose expulsion is impossible for reasons of fact or of law and who have no residence permit have the right to open and use a payment account with basic features with the payment service provider or providers identified pursuant to paragraph 1. Such a right shall apply irrespective of the consumer’s place of residence. Member States shall ensure that the exercise of the right is not made excessively difficult or burdensome for the consumer. Before opening the payment account with basic features, payment service providers shall verify whether the consumer holds or does not hold a payment account in their territon active and equivalent payment account with access to all the features listed in Article 16 in their territory. Such verification shall take account of the information provided by the consumer. The payment service provider may not confine himself exclusively to information from credit bureaus where the consumer provides valid reasons for contradicting an existing entry.
2013/09/10
Committee: ECON
Amendment 551 #

2013/0139(COD)

Proposal for a directive
Article 15 – paragraph 2
2. Member States shall ensure that consumers legally resident in the Union and persons whose expulsion is not possible for reasons of fact or of law and who have not been issued with a residence permit have the right to open and use a payment account with basic features with the payment service provider or providers identified pursuant to paragraph 1. Such a right shall apply irrespective of the consumer’s place of residence. Member States shall ensure that the exercise of the right is not made excessively difficult or burdensome for the consumer. Before opening the payment account with basic features, payment service providers shall verify whether the consumer holds or does not hold a payment account in their territory.
2013/09/10
Committee: ECON
Amendment 605 #

2013/0139(COD)

Proposal for a directive
Article 16 – paragraph 1 – point c
(c) services enabling cash withdrawals within the Union from a payment account at branch offices and at cash dispensers both during and outside business hours;
2013/09/10
Committee: ECON
Amendment 621 #

2013/0139(COD)

Proposal for a directive
Article 16 – paragraph 1 – point d – point 3
(3) credit transfers and standing orders at bank branch terminals or branch offices and on the online banking system currently used by the bank concerned.
2013/09/10
Committee: ECON
Amendment 659 #

2013/0139(COD)

Proposal for a directive
Article 18 – paragraph 2 – introductory part
2. The payment service provider may unilaterally terminate a framework contract only where at least one of the following conditions is met:
2013/09/10
Committee: ECON
Amendment 673 #

2013/0139(COD)

Proposal for a directive
Article 18 – paragraph 2 – point d
(d) the consumer is no longer legally president in the Union or has subsequently opened a second payment account in the Member State where he already holds a payment account with basic features.
2013/09/10
Committee: ECON
Amendment 693 #

2013/0139(COD)

Proposal for a directive
Article 19 – paragraph 2
2. Member States shall ensure that payment service providers actively make available to consumers information about the specific features of the payment account with basic features on offer, their associated fees and their conditions of use in writing and on their websites in easily accessible form. Member States shall also ensure that the consumer is informed that the purchase of additional services is not compulsory to access a payment account with basic features.
2013/09/10
Committee: ECON
Amendment 57 #

2012/2234(INI)

Draft opinion
Paragraph 11
11. Considers that Commission proposals regarding quantitative and qualitative precautionary measures are only of value if they lay stress on taking into accountmust identify the differences between the systems and comply strictly with the principle of proportionality in terms of the financial, administrative and technical burden involved;
2012/12/18
Committee: ECON
Amendment 67 #

2012/2234(INI)

Draft opinion
Paragraph 13
13. Is strongly opposed to Europe-wide harmonised requirements concerning own capital or evaluation; therefore fully rejects any review of the Pension Funds Directive (the IORP Directive) which aims to achieve this;
2012/12/18
Committee: ECON
Amendment 75 #

2012/2234(INI)

Draft opinion
Paragraph 14
14. Stresses that the application of quantitative Solvency II requirements poses a great risk to pillar 2 systems, since these may, as a result of increased costs, be forced in future to accept lower company pensions or to stop them altogether; emphasises that this is noteither in the interests of employees nor employers; therefore concludes that there must be no provisions at EU level aiming to apply Solvency II to 2nd pillar systems;
2012/12/18
Committee: ECON
Amendment 82 #

2012/2234(INI)

Draft opinion
Paragraph 15
15. Considers theRejects any further development of variations tof Solvency II, such as the Holistic Balance Sheet Model (HBS), to be useful only if specific national requirements are complied with and if they are presented as recommendations; categorically rejects these as components of EU-level regulations;
2012/12/18
Committee: ECON
Amendment 85 #

2012/2234(INI)

Motion for a resolution
Paragraph 3
3. Stresses that first-pillar pensions remain the most important source of income for pensioners; calls on Member States to implement reforms to their first-pillar systems aligning contributory years to the changing ratio between pensioners and people in working age, also to prevent public pension costs crowding out other important government spendingnd to align the statutory retirement age to the actual number of contribution years instead of a fix age; calls on the Member States to ensure first- pillar pensions - if necessary complemented by minimum income provisions - to provide a decent minimum income;
2013/01/21
Committee: EMPL
Amendment 127 #

2012/2234(INI)

Motion for a resolution
Paragraph 4 – point ii
ii. a funded, employment-related, mandatory collective second-pillar pension, preferably governed by (sectoral) social partners;
2013/01/21
Committee: EMPL
Amendment 170 #

2012/2234(INI)

Motion for a resolution
Paragraph 7
7. Welcomes the main thrust of the White Paper that suggests focusing on: balancing time spent in work and retirement; developing complementary occupational and private pension savings, and enhancing the EU's pension monitoring tools; stresses that such measures should always be in compliance with the principle of subsidiary to accommodate the characteristics of occupational pension systems.
2013/01/21
Committee: EMPL
Amendment 180 #

2012/2234(INI)

Motion for a resolution
Paragraph 8
8. Stresses that implementing structural reforms aimed at having people work more and longer is the only feasible way to generate the tax revenues and social and plabour market reforms to create good employment is the only feasible way to create incentives for self-determined management of working life; draws attenstion premiums needed to consolidate Member State budgets and to fund adequate, safe and sustainable pension schemes; points to the risk of, in this context, to the importance of active, healthy ageing and lifelong learning; stresses the risk of unemployment, low-wage jobs and part- time work, which leading to only partial pension entitlementspoverty in old age; calls on the Member States to put funds aside to combat the rising public costs of the retiring populationunemployment and precarious terms of employment;
2013/01/21
Committee: EMPL
Amendment 224 #

2012/2234(INI)

Motion for a resolution
Paragraph 12
12. Calls on the social partners to adopt a life-cycle approach to human resources management and to adapt workplaces; calls on employers to come up with programmes to support active and healthy ageing and to ensure that employees can work longer on a voluntary basis; calls on workers to engage actively in available training opportunities and to keep themselves fit for the labour market at all stages of their working life;
2013/01/21
Committee: EMPL
Amendment 268 #

2012/2234(INI)

Motion for a resolution
Paragraph 17
17. Regrets the wide dispersion in characteristics and outcomes across Member States' occupational pension schemes as regards access, solidarity, cost- effectiveness, risk and return; welcomes the Commission's intention, in close consultation with the Member States, social partners, the pension industry and other stakeholders, to develop a code of good practice for occupational pension schemes, in compliance with the principle subsidiarity;
2013/01/21
Committee: EMPL
Amendment 51 #

2012/2151(INI)

Motion for a resolution
Recital D
D. whereas the Union is at a crossroads and a clear direction needs to be chosen either to combine the forces within the Union and to build a future for a strong and, value- driven and solidarity Union in a globalised world, or to fold back on itself and be forced to submit passively to globalisation for lack of power and influence;
2012/09/26
Committee: ECON
Amendment 63 #

2012/2151(INI)

Motion for a resolution
Recital E
E. whereas the economic, financial and banking crisis has repeatedly demonstrated thatlead to high public debt at national level and financing problems as well asin several Member States and together with the disturbance of macroeconomic equilibriums quickly, directly and negativelyhas affected the socio- economic development of the euro area and of the Union as a whole in a quick, direct and negative way;
2012/09/26
Committee: ECON
Amendment 75 #

2012/2151(INI)

Motion for a resolution
Recital G
G. whereas the combination of a lack of competitiveness and a low growth potential with high deficits and high debt financing problems and the absence of a European investment strategy stimulating growth and jobs not only causes harm in some Member States, but also makes vulnerable the euro area as a whole;
2012/09/26
Committee: ECON
Amendment 101 #

2012/2151(INI)

Motion for a resolution
Recital L
L. whereas euro area membership implies a high degree of economic interdependence between the Member States concerned and therefore requires a much closer coordinthe foundation of a financial, fiscal and economic policies, linked to stricter supervisory instruments and effective enforcement;union where Member States shift competences to the Union level:
2012/09/26
Committee: ECON
Amendment 109 #

2012/2151(INI)

Motion for a resolution
Recital N
N. whereas Union and national policy makers should continuously explain to their citizens the benefits of a solidarity Union and a single currency, including the costs and risks linked to a break up of the euro area;
2012/09/26
Committee: ECON
Amendment 117 #

2012/2151(INI)

Motion for a resolution
Recital P
P. whereas any doubt about the future of EMU in general and the Union's single currency in particular must be ruled outis ungrounded as a strong Union is in the interest of all citizens;
2012/09/26
Committee: ECON
Amendment 123 #

2012/2151(INI)

Motion for a resolution
Recital Q
Q. whereas time is running out and restoring confidence is the main task in order to convince European citizens and enterprises to start investing again in the economy and to create conditions for financial institutions to provide the real economy, once again, with credit on a broad but sound basis;
2012/09/26
Committee: ECON
Amendment 126 #

2012/2151(INI)

Motion for a resolution
Recital R
R. whereas the answer to the euro crisis is complexa matter of political choice and the willingness to shift competences to the Union level and demands sustained, multifaceted efforts at all institutional and policy levels;
2012/09/26
Committee: ECON
Amendment 128 #

2012/2151(INI)

Motion for a resolution
Recital S
S. whereas the Union institutions and the Heads of State and Government of the Member States in general and of the euro area Member States in particular hold the key to working in a credible way on the much-needed restoration of confidence;play an important role in creating a fiscal union in a way that all mechanisms of euro area crisis management, such as the rescue fund European Stability Mechanism, are embedded in an institutional setting where the European Parliament is fully involved as co-legislator; whereas the current intergovernmental structure represents a severe lack of democratic legitimacy; whereas the common currency can only be stabilised if Member States are willing to shift competences in fiscal policies to the Union level.
2012/09/26
Committee: ECON
Amendment 131 #

2012/2151(INI)

Motion for a resolution
Recital T
T. whereas restoring confidence also requires those Heads of State and Government and their Ministers to defend loyally in their Member States the policy decisions they agreed upon at Union level and to explain that they subscribed to those policies in the belief that they will safeguard the future of their own citizens; whereas by imputing unpopular decisions to the Union, a particularly dangerous game of perception is being played which risks eroding the Union from below, undermining solidarity and ultimately damaging the European project as a whole;deleted
2012/09/26
Committee: ECON
Amendment 147 #

2012/2151(INI)

Motion for a resolution
Recital V
V. whereas the growing divide between core and peripheral countries in the Unionwithin the euro area should not become chronic in nature; whereas a permanent frameworkEuropean monetary fund must be created in which Member States in difficulty should be able to rely on solidarity-based support from other Member States; whereas those Member States which desire solidarity should be able to take up their responsibility for implementing the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union as well as their country-specific recommendations and their engagements under the European Semester, in particular those related to the stability and growth pact (SGP), the Euro- plus pact and the macro-economic imbalances procedure, as well as the broader commitments in the framework of the 'Europe 2020' Strategy;
2012/09/26
Committee: ECON
Amendment 167 #

2012/2151(INI)

Motion for a resolution
Recital Z
Z. whereas the report drawn up by the four Presidents represents the first long- term plan which unambiguously chooses the way forward and seeks to break the cycle of distrust by means of structural measures;deleted
2012/09/26
Committee: ECON
Amendment 183 #

2012/2151(INI)

Motion for a resolution
Recital AC
AC. whereas it cannot be excluded that new Treaty changes might be needed for increasing the governancedemocratic legitimacy of a fully operational EMU; whereas the Commission should list without delay the necessary institutional developments in the long term;
2012/09/26
Committee: ECON
Amendment 192 #

2012/2151(INI)

Motion for a resolution
Recital AE
AE. whereas the ambition should be that all Member States jointly take steps forward towards greater European integration; whereas decisions that only apply to the euro area might be needed where required or justified on the basis of the specificity of the euro area, not excluding opt-ins for other Member States;
2012/09/26
Committee: ECON
Amendment 415 #

2012/2151(INI)

Motion for a resolution
Recital BS
BS. whereas sound public finances and balanced budgesustainable growth prospects are a basic requirement for long-term economic and financial stability, for the welfare state and for the payment of the costs of the expected demographic development;
2012/09/26
Committee: ECON
Amendment 421 #

2012/2151(INI)

Motion for a resolution
Recital BT
BT. whereas the smooth functioning of EMU requires a full and swift implementation of the measures already agreed upon under the reinforced economic governance framework (such as the reinforced SGP and the Fiscal Compact)as well as their further development;
2012/09/26
Committee: ECON
Amendment 430 #

2012/2151(INI)

Motion for a resolution
Recital BU
BU. whereas the crisis has made clear the need for a qualitative step towards a more robust fiscal union with more effective mechanisms to correct unsustainable fiscal trajectories, debt levels and set the upper limits of budget balance of Member Statenhance growth-oriented budgetary policies and correct unsustainable fiscal trajectories;
2012/09/26
Committee: ECON
Amendment 434 #

2012/2151(INI)

Motion for a resolution
Recital BV
BV. whereas supplementary mechanisms are needed to ensure that all Member States respect their engagements in their individual budgetary procedures, where it cannot be excluded that the role of the European Parliament and the Commissioner for Economic and Monetary Affairs needs to be reinforced;
2012/09/26
Committee: ECON
Amendment 444 #

2012/2151(INI)

Motion for a resolution
Recital BX
BX. whereas options should be explored for the feasibility of a euro area stabilisation instrument to counter and absorb economic shocks in the Member States; whereas financial assistance mechanisms such as the ESM are less rapidly deployable than conventional budgetary mechanisms;deleted
2012/09/26
Committee: ECON
Amendment 459 #

2012/2151(INI)

Motion for a resolution
Recital BZ
BZ. whereas the Union should decide the common issuance of debt ias ian the longer run a corollary of EMUimportant mechanism to ensure the fiscal stability of the euro area;
2012/09/26
Committee: ECON
Amendment 470 #

2012/2151(INI)

Motion for a resolution
Recital CA
CA. whereas as a necessary precondition for common issuance of debt a sustainable fiscal framework needs to be in place, aimed at both enhanced economic governance, fiscal discipline and SGP compliance, as well as control instruments to prevent moral hazardthe common issuance of debt must be accompanied by stronger Union economic governance under the control of the European Parliament;
2012/09/26
Committee: ECON
Amendment 476 #

2012/2151(INI)

Motion for a resolution
Recital CB
CB. whereas it must be kept in mind that the introduction in a hasty or not credible way of instruments for common issuance of debt may lead to uncontrollable consequences and the loss of long-term trust in the euro area's capacity to act decisively;deleted
2012/09/26
Committee: ECON
Amendment 502 #

2012/2151(INI)

Motion for a resolution
Recital CD
CD. whereas fiscal discipline is a necessary but not a sufficient condition to get out of the crisis, in-depth structural reforms and initiatives area 'Marshall' plan to finance investments for growth and jobs is also needed to ensure a qualitative and sustainable growth and employment in a socially just society;
2012/09/26
Committee: ECON
Amendment 513 #

2012/2151(INI)

Motion for a resolution
Recital CF
CF. whereas the Pact for Growth and Jobs, which was approved at the European Summit of 28 and 29 June 2012, can bring an important contribution to growth, and employment and improved European competition capacities, the Union and the Member States must take on their responsibility and act quicklybut is not sufficient to stimulate the economies of Member States in financial difficulties; therefore urges Heads of State or Government to invest 1% of European GDP in the creation of new jobs;
2012/09/26
Committee: ECON
Amendment 532 #

2012/2151(INI)

Motion for a resolution
Recital CH
CH. whereas the instrument of enhanced cooperation should be used more frequently in the field of taxation; whereas reference can be made to the European Parliament's position onthe financial transactions tax (FTT) and the common consolidated corporate tax base (CCCTB) and the financial transactions tax (FTT)should be implemented without any delay;
2012/09/26
Committee: ECON
Amendment 549 #

2012/2151(INI)

Motion for a resolution
Recital CJ
CJ. whereas binding coordination at Union level might be considershould be used for certain key economic policy issues particularly relevant for growth and employment;
2012/09/26
Committee: ECON
Amendment 575 #

2012/2151(INI)

Motion for a resolution
Recital CN
CN. whereas for the past years the European Council has acted responsibly for the past years in the management of the crisis, formulating numerous proposals to find a way out of the criput the management of the crisis on an intergovernmental basis, for which in the Treaties not always a clear competence ailing to include the European Parliament as an important actor the Union has been assignedo find a way out of the crisis;
2012/09/26
Committee: ECON
Amendment 617 #

2012/2151(INI)

Motion for a resolution
Paragraph 3
3. Calls on the Commission, in addition to the measures which can and must be taken swiftly under the existing Treaties, to list the institutional developments which may prove necessary in order to establish a stronger EMU architecture, based on the need for a banking union, a fiscal union and an economic union within the framework of a strengthened political union enhancing the role of the European Parliament;
2012/09/26
Committee: ECON
Amendment 787 #

2012/2151(INI)

Motion for a resolution
Annex – part 2 – point 2.5 a (new)
Recommendation 2.5a on a golden rule for public finance The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: Each Member State should have a differentiated medium-term objective for its budgetary position. These country- specific medium-term budgetary objectives may diverge from the requirement of a close-to-balance or in- surplus position, while providing a safety margin with respect to the 3 % of GDP government deficit ratio. The medium- term budgetary objectives should ensure the sustainability of public finances or a rapid progress towards such sustainability while allowing room for budgetary manoeuvre, considering in particular the need for public investment. Taking these factors into account, for participating Member States and for Member States that are participating in ERM II the country-specific medium-term budgetary objectives should be specified within a defined range between minus 0.5% of GDP and balance or surplus, in cyclically adjusted terms, net of 2/5 of gross fixed capital formation as defined in the European System of Integrated Economic Accounts and net of one-off and temporary measures. For participating Member States, where the ratio of the general government rate to gross domestic product at market prices is below 60 % and where risks in terms of long-term sustainability of public finances are low, the country-specific medium-term budgetary objectives shall be specified within a defined range between a lower limit of a structural deficit of minus 1% of GDP at market prices and balance or in surplus, in cyclically adjusted terms, net of 2/5 of gross fixed capital formation as defined in the European System of Integrated Economic Accounts and one- offs and temporary measures.
2012/10/02
Committee: ECON
Amendment 790 #

2012/2151(INI)

Motion for a resolution
Annex – part 2 – point 2.5 c (new)
Recommendation 2.5c on a golden rule for public finance The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: Fiscal rules for member states whose currency is the euro should be made anti- cyclical by introducing a distinction between operational government spending and public investments linked to the achievement of the Union's growth strategy; the latter should not be accounted for in the computation of deficits for the purpose of the correction and prevention of excessive deficits.
2012/10/02
Committee: ECON
Amendment 801 #

2012/2151(INI)

Motion for a resolution
Annex – part 3 – point 3.2 – paragraph -1 a (new)
The Commission should bring forward proposals immediately in accordance with the ordinary legislative procedure to translate into secondary legislation the commitments of the Heads of State or Government on 28 June 2012 for a "Growth and Job compact"; In particular, the economic coordination framework should take due account of the commitment of the Member State to "pursuing differentiated growth-friendly fiscal consolidation, respecting the Stability and Growth Pact and taking into account country-specific circumstances" and to promote "investment into future- oriented areas directly related to the economy's growth potential";
2012/10/02
Committee: ECON
Amendment 126 #

2012/0242(CNS)

Proposal for a regulation
Recital 9
(9) A European banking union should therefore be set up, underpinned by a true single rulebook for financial services for the Single Market as a whole and composed of a single supervisory mechanism, and a commonuniform European regime for deposit insurance schemes and a resolution framework. In view of the close links and interactions between Member States participating in the common currency, the banking union should apply at least to all Euro area Member States. With a view to maintaining and deepening the internal market, and to the extent that this is institutionally possible, the banking union should also be open to the participation of other Member States.
2012/10/30
Committee: ECON
Amendment 170 #

2012/0242(CNS)

Proposal for a regulation
Recital 13
(13) Safety and soundness of large banks is essential to ensure the stability of the financial system. However, recent experience shows that smaller banks can also pose a threat to financial stability. Therefore, the ECB should be able to exercise supervisory tasks under the single supervisory mechanism, which should consist of the ECB and the competent national authorities, in relation to all banks of participating Member States.
2012/10/30
Committee: ECON
Amendment 876 #

2012/0242(CNS)

Proposal for a regulation
Article 19 a (new)
Article 19a Board of Appeal 1. The Board of Appeal shall be an internal body composed of six members and six alternates appointed by the Governing Council of the ECB. Four members and four alternates shall not currently be members of the staff of the ECB or other national bodies or Union bodies, and shall be individuals of high repute with a proven record of relevant knowledge and professional, including supervisory, experience at a sufficiently high level in the field of banking. The members of the Board of Appeal may not also be members of the body responsible for issuing instructions or making decisions. The Board of Appeal shall appoint its President. 2. National competent authorities shall have the right to appeal against instructions and decisions addressed to them or to credit institutions for which they are competent and against decisions addressed to other national authorities or to credit institutions for which they are not competent if these decisions directly concern them. 3. The Board of Appeal shall examine the appeal within a period appropriate to the urgency of the matter. 4. The Board of Appeal may either confirm the instruction or decision or refer the matter back to the body responsible for issuing instructions or making decisions. The decisions taken by the Board of Appeal shall be reasoned. Where the Board of Appeal confirms the instruction or decision, it shall enter into force without delay. Where the Board of Appeal refers the instruction or decision back to the body responsible for issuing instructions or making decisions, that body shall be bound by the decision of the Board of Appeal and shall amend its decision in the matter concerned. 5. The term of office of the members of the Board of Appeal shall be five years. That term may be extended once. 5. The Governing Council of the ECB shall draw up the rules of procedure of the Board of Appeal.
2012/10/30
Committee: ECON
Amendment 231 #

2012/0175(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 18
(18) 'remuneration' means any commission, fee, charge or other payment, including an economic benefit of any kindr benefits in money’s worth of any kind and any other incentives, offered or given in connection with insurance mediation activities.
2013/02/14
Committee: ECON
Amendment 345 #

2012/0175(COD)

Proposal for a directive
Article 15 – paragraph 1
1. Member States shall require that, when carrying out insurance mediation with or for customers, an insurance intermediary or insurance undertaking acts honestly, fairly and professionally in accordance with the best interests of its customersDoes not apply to English text.
2013/02/14
Committee: ECON
Amendment 371 #

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 1 – point a
(a) whether it has a holding, direct or indirect, representing more than 10%which gives it a proportion of the voting rights or of the capital in a given insurance undertaking;
2013/02/14
Committee: ECON
Amendment 372 #

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 1 – point b
(b) whether a given insurance undertaking or parent undertaking of a given insurance undertaking has a holding, direct or indirect, representing more than 10%which gives it a proportion of the voting rights or of the capital in the insurance intermediary;
2013/02/14
Committee: ECON
Amendment 375 #

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 1 – point c – point i
(i) it gives advice on the basis of a fair analyan independent basis, or
2013/02/14
Committee: ECON
Amendment 380 #

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 1 – point c – point iii
(iii) it is not under a contractual obligation to conduct insurance mediation business exclusively with one or more insurance undertakings and does not give advice on the basis of a fair analyan independent basis. In that case, it shall provide the names of the insurance undertakings with which it may and does conduct business;
2013/02/14
Committee: ECON
Amendment 438 #

2012/0175(COD)

Proposal for a directive
Article 17 – paragraph 3
3. The insurance undertaking or insurance intermediary shall also inform the customer in a transparent manner about the nature and the amount and the basis of the calculation of any variable remuneration received by any employee of theirs for distributing and managing the insurance product in question.
2013/02/14
Committee: ECON
Amendment 489 #

2012/0175(COD)

Proposal for a directive
Article 18 – paragraph 4
4. Prior to the conclusion of a contract, whether or not advice is given, the insurance intermediary or insurance undertaking shall give the customer the relevant information about the insurance product in an easily comprehensible formand clear form on a key information document to allow the customer to make an informed decision, while taking into account the complexity of the insurance product and the type of costumer.
2013/02/14
Committee: ECON
Amendment 491 #

2012/0175(COD)

Proposal for a directive
Article 18 – paragraph 4 a (new)
4a. The European Commission shall put forward a report on the application of paragraph 4 to the European Parliament and the Council by X.X.20XX [one year after entry into force of the Directive], and if appropriate a legislative proposal taking into account the provisions of the regulation of the European Parliament and of the Council on the proposal on key information documents for investment products (COM (2012) 352.
2013/02/14
Committee: ECON
Amendment 518 #

2012/0175(COD)

Proposal for a directive
Article 21 – paragraph 2
2. When an insurance service or product is offered together with another service or product as a package, the insurance undertaking or, where applicable, the insurance intermediary shall offer and explicitly inform the customer that it is possible to buy the components of the package separately and shall provide information of the costs and charges of each component of the package that may be bought through or from it separately.
2013/02/14
Committee: ECON
Amendment 596 #

2012/0175(COD)

Proposal for a directive
Article 24 – paragraph 5 – point b
(b) not accept or receive fees, commissions or any monetary benefits, benefits in money’s worth or other incentives paid or provided by any third party or a person acting on behalf of a third party in relation to the provision of the service to customers.
2013/02/14
Committee: ECON
Amendment 339 #

2012/0169(COD)

Proposal for a regulation
Article 8 – paragraph 2 – point b – point vi a (new)
(via) an indication that national tax legislation of the investor's home Member State may have a significant impact on the expected and actual return of investment.
2013/02/20
Committee: ECON
Amendment 417 #

2012/0169(COD)

Proposal for a regulation
Article 8 – paragraph 2 – point h
(h) for pension products, under a section titled ‘What might I get when I retire?’, projections of possible future outcomes, including a comprehensible clarification that the actual return may differ considerably from these projections.
2013/02/15
Committee: ECON
Amendment 156 #

2012/0150(COD)

Proposal for a directive
Recital 10
(10) National AThe competent national authorities and resolution authorities should take into account the risk, size andnature of activity, size, complexity, interconnectedness and legal form of an institution, both in the context of recovery and resolution plans and when using the different tools at their disposal, making sure that the regime is applied in an appropriate wayand proportionate way. One of the factors they should take into account in this regard should be membership of a protection scheme within the meaning of Article 80(8) of Directive 2006/48/EC.
2012/12/20
Committee: ECON
Amendment 1457 #

2012/0150(COD)

Proposal for a directive
Article 93 – paragraph 1
1. Member States shall ensure that, in a period no longer than 10 years after the entry into force of this directive, the available financial means of their financing arrangements reach at least 1.5% of the amount of deposits of all the credit institutions authorised in their territory which are guaranteed under Directive 94/19/EC.
2012/12/20
Committee: ECON
Amendment 1521 #

2012/0150(COD)

Proposal for a directive
Article 94 – paragraph 7 – point g a (new)
(ga) membership of a guarantee scheme in accordance with Article 80(8) of Directive 2006/48/EC.
2012/12/20
Committee: ECON
Amendment 98 #

2011/2071(INI)

Motion for a resolution
Paragraph 9 a (new)
9a. Emphasises that steps needed to improve the European economic governance capacity should not lead to any deficit in democratic legitimacy and accountability; warns, therefore, against a set-up of the Annual Growth Survey as a bureaucratic act which lacks the approval of the European Parliament;
2011/07/15
Committee: ECON
Amendment 132 #

2011/2071(INI)

Motion for a resolution
Paragraph 20 a (new)
20a. Underlines the need for country- specific recommendations to be based on democratic procedures; warns against the establishment of any practice that lacks parliamentary approval at the European and national level; notes that this applies especially to recommendations which could undermine social regulation, also including provisions guaranteeing a better work and family balance through specific regulations for holidays and Sundays;
2011/07/15
Committee: ECON
Amendment 147 #

2011/2071(INI)

Motion for a resolution
Paragraph 23
23. AskExpects to be allowed to participate ininvited to the macroeconomic dialogue, which must be stepped up and made more interactive;
2011/07/15
Committee: ECON
Amendment 103 #

2011/2011(INI)

Motion for a resolution
Paragraph 12 – subparagraph 1 (new)
Believes that a World Financial Organisation (WFO) -possible evolution of the Financial Stability Board (FSB)- should be considered to preserve global financial stability and ensure the fulfilment of multilateral compromises;
2011/05/24
Committee: ECON
Amendment 136 #

2011/2011(INI)

Motion for a resolution
Paragraph 15 a (new)
15a. Believes that the G20, the Breton Woods institutions (IMF, 187 countries) and the new WFO should be integrated in the United Nations System where they should engage with the WTO, the ILO and with a new environmental body. The reform of the UN could deal with these issues and the G20 could become a new Economic Security Council;
2011/05/24
Committee: ECON
Amendment 26 #

2011/0330(CNS)

Proposal for a regulation
Article 16 – paragraph 2
2. The authority having forwarded information to another authority under paragraph 1 may request that other authority to provide a report on the follow- up action taken by the requesting Member State on the basis of the provided information. Where the authority has forwarded the information following discovery of an unusual but economically significant irregularity, the authority shall request such a report on follow-up action. If such a request is made, the other authority shall, without prejudice to rules on secrecy and data protection applicable in its Member State, send such report as soon as possible, provided that it does not impose a disproportionate administrative burden on it.
2012/02/06
Committee: ECON
Amendment 32 #

2011/0330(CNS)

Proposal for a regulation
Article 25 – paragraph 3
3. The competent authority of a Member State may refuse to forward information if the requesting Member State cannot, for legal reasons, provide similar information.deleted
2012/02/06
Committee: ECON
Amendment 37 #

2011/0330(CNS)

Proposal for a regulation
Article 32 – paragraph 1
1. When the competent authority of a Member State receives information from a third country, that authority mayshall pass the information on to the competent authorities of any Member State which might be interested in it and, in any event, to all those which request it, provided that it is permitted by assistance arrangements with that particular third country. Such information mayshall also be passed on to the Commission whenever it is in the interest of the Union and for the same purposes as this Regulation.
2012/02/06
Committee: ECON
Amendment 38 #

2011/0330(CNS)

Proposal for a regulation
Article 32 – paragraph 2
2. Provided the third country concerned has given a legal undertaking to provide the assistance required to gather evidence of the irregular nature of transactions which appear to contravene excise legislation, information obtained under this Regulation mayshall be communicated to that third country, with the consent of the competent authorities which supplied the information, in accordance with their national law, for the same purposes for which this information has been supplied and in compliance with Directive 95/46/EC, in particular provisions on transfers of personal data to third countries, and the national legal measures implementing the Directive.
2012/02/06
Committee: ECON
Amendment 36 #

2011/0308(COD)

Proposal for a directive
Recital 32
(32) In order to provide for enhanced transparency of payments made to governments, large undertakings and public interest entities which are active in the extractive industry or the logging of primaryr clearing of natural forests1 should disclose in a separateas part of their annual financial statements a report on an annual basis of all material payments made to governments in the countries in which they operate. Such undertakings are active in countries rich in natural resources, in particular minerals, oil, natural gas as well as primarynatural forests. The report should include types of payments comparable to those disclosed by an undertaking participating in the Extractive Industries Transparency Initiative (EITI). The initiative is also complementary to the EU FLEGT Action Plan (Forest Law Enforcement, Governance and Trade) and the Timber Regulation which require traders of timber products to exercise due diligence in order to prevent illegal wood from entering into the EU market. __________________ 1 Defined in Directive 2009/28/EC as ‘naturally regenerated forest of native species, where there is no clearly visible indication of human activities and the ecological processes are not significantly disturbed.’
2012/04/25
Committee: ECON
Amendment 44 #

2011/0308(COD)

Proposal for a directive
Recital 33
(33) The reports should serve to facilitate governments of resource-rich countries in implementing the EITI Principles and Criteria and account to their citizens for payments such governments receive from undertakings active in the extractive industry or loggers of primarynatural forests operating within their jurisdiction. The report should incorporate disclosures on a country and project basis, where a project is considered as the lowest level of operational reporting unit at which the undertaking prepares regular internal management reports, such as a concession, geographical basin, etc and where payments have been attributed to such projectsequivalent to a set of activities governed by a specific licence, concession, contract or other legal agreement between the undertaking and a host government, where such agreement gives rise to specific revenue liabilities for the undertaking. In the light of the overall objective of promoting good governance in these countries, the materiality of payments to be reported should be assessed in relation to the recipient government. Various criteria on materiality could be envisaged such as payments of an absolute amount, or a percentage threshold (such as payments in excess of a percentage of a country’s GDP) and these can be defined through a delegated actTo promote comparability and ensure a relevant definition of materiality, payments shall be considered material if any one payment or set of payments of the same type amount to more than €15,000. The reporting regime should be subject to a review and a report by the Commission within five years of the entry into force of the Directive. The review should consider the effectiveness of the regime and take into account international developments including issues of competitiveness and energy security, and the potential utility of promoting tax compliance by expanding the range of financial information required to include, inter alia, effective tax rates, production volumes, sales and profit, as well as extending enhanced reporting requirements to other major economic sectors. The review should also take into account the experience of preparers and users of the payments information and consider whether it would be appropriate to include additional payment information such as effective tax rates and recipient details, such asrecipients’ bank account information.
2012/04/25
Committee: ECON
Amendment 48 #

2011/0308(COD)

Proposal for a directive
Recital 35
(35) In order to take account of future changes to the laws of the Member States and in the legislation of the Union concerning company types, the Commission should be empowered to adopt delegated acts in accordance with Article 290 of the Treaty in respect of updating the lists of undertakings contained in Annexes I and II. The use of delegated acts is also necessary to adapt the undertaking size criteria, as with the passage of time inflation will erode their real value. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level. In order to ensure a relevant and appropriate level of disclosure of payments to governments by the extractive industry and loggers of primary forests and to ensure uniform application of this Directive, the Commission should be empowered to adopt delegated acts in accordance with Article 290 of the Treaty in respect of the specification of the concept of materiality of payments.
2012/04/25
Committee: ECON
Amendment 74 #

2011/0308(COD)

Proposal for a directive
Article 36 – paragraph 1 – point 1
1. "Undertaking active in the extractive industry" means an undertaking with any activity involving the exploration, discovery, development, and extraction ofthe highest level parent company publishing accounts within the European Union where the group of companies for which that parent company prepares consolidated financial statements includes subsidiary companies, branches, permanent establishments, joint ventures and associates undertaking any activity involving the exploration, discovery, development, extraction, processing, export, transportation of, or any other significant activity related to, minerals, oil and natural gas deposits, as referred to in Section B-Divisions 05 to 08 of Annex I to Regulation (EC) No 1893/2006 of the European Parliament and of the Council.
2012/04/25
Committee: ECON
Amendment 77 #

2011/0308(COD)

Proposal for a directive
Article 36 – paragraph 1 – point 2
2. "Undertaking active in the logging of primary forests’ means an undertaking with activitiesr clearing of natural forests" means the highest level parent company publishing accounts within the European Union where the group of companies for which that parent company prepares consolidated financial statements includes subsidiary companies, branches, permanent establishments, joint ventures and associates undertaking any activity involving the processing, export, transportation of, or any other significant activity related to, the logging or clearing of all types of natural forests, as referred to in Section A- Division 2.2 of Annex I to Regulation (EC) No 1893/2006 of the European Parliament and of the Council , in primary forests35, in natural forests. Natural forests correspond to FAO definitions of ‘primary forest’ and ‘other naturally regenerated forest’.
2012/04/25
Committee: ECON
Amendment 83 #

2011/0308(COD)

Proposal for a directive
Article 36 – paragraph 1 – point 4
4. ‘Project’ is equivalent to a specific operational reporting unit at the lowest level within the undertaking at which regular internal management reports are prepared to monitor its business. and shall include each specific licence, concession, contract or other legal agreement between the company and the government where such agreement gives rise to specific revenue liabilities for the company
2012/04/25
Committee: ECON
Amendment 89 #

2011/0308(COD)

Proposal for a directive
Article 37 – paragraph 1
1. Member States shall require large undertakings and all public interest entities active in the extractive industry or the logging of primary forests to prepare and make public a report on payments made to governmentsor in other natural resources-based industries to prepare, have audited and make public a report on payments made to governments including those of countries where they operate and or have financial presence on an annual basis.
2012/04/25
Committee: ECON
Amendment 113 #

2011/0308(COD)

Proposal for a directive
Article 38 – paragraph 1 – point c a (new)
(ca) the identity of each national, regional or local authority of a Member State or of a third country (including a department, agency or undertaking controlled by that authority) receiving payments, and the amount per type of payment, including payments in kind, made to that authority.
2012/04/25
Committee: ECON
Amendment 141 #

2011/0308(COD)

Proposal for a directive
Article 38 – paragraph 2 – point f a (new)
(fa) payments to state security forces for security services;
2012/04/25
Committee: ECON
Amendment 143 #

2011/0308(COD)

Proposal for a directive
Article 38 – paragraph 2 – point f b (new)
(fb) taxes on land and buildings;
2012/04/25
Committee: ECON
Amendment 144 #

2011/0308(COD)

Proposal for a directive
Article 38 – paragraph 2 – point f c (new)
(fc) withholding taxes;
2012/04/25
Committee: ECON
Amendment 145 #

2011/0308(COD)

Proposal for a directive
Article 38 – paragraph 2 – point f d (new)
(fd) import and export levies and taxes;
2012/04/25
Committee: ECON
Amendment 146 #

2011/0308(COD)

Proposal for a directive
Article 38 – paragraph 2 – point f e (new)
(fe) payments for violations of law such as environmental and remediation liabilities;
2012/04/25
Committee: ECON
Amendment 148 #

2011/0308(COD)

Proposal for a directive
Article 38 – paragraph 2 a (new)
2a. The following items should also be reported in relation to each project: (a) A list of subsidiaries’ names (b) Production volumes (c) Sales (d) Staff numbers and total staffing cost (e) Profits and assets.
2012/04/25
Committee: ECON
Amendment 157 #

2011/0308(COD)

Proposal for a directive
Article 38 – paragraph 4
4. The Commission shall be empowered to adopt delegated acts in accordance with Article 42 in order to specify the concept of materiality of paymentsPayments shall be considered material if any one payment or set of payments of the same type amount to more than €15,000.
2012/04/25
Committee: ECON
Amendment 162 #

2011/0308(COD)

Proposal for a directive
Article 38 – paragraph 5
5. The report shall exclude any type of payments made to a government in a country where the public disclosure of this type of payment is clearly prohibited by the criminal legislation of that country. In such cases the undertaking shall state that it has not reported payments in accordance with paragraphs 1 to 3, and shall disclose the name of the government concerned.deleted
2012/04/25
Committee: ECON
Amendment 170 #

2011/0308(COD)

Proposal for a directive
Article 39 – paragraph 1
1. A Member State shall require any large undertaking or any public interest entity active in the extractive industry or the logging of primaryr clearing of natural forests and governed by its national law to draw up a consolidated report on payments to governments in accordance with Articles 37 and 38 if that parent undertaking is under the obligation to prepare consolidated financial statements as laid down in Article 23(1) to 23(6) of this Directive.
2012/04/25
Committee: ECON
Amendment 175 #

2011/0308(COD)

Proposal for a directive
Article 39 – paragraph 3 – introductory part
3. An undertaking need not be included in a consolidated report on payments to government where at least one of the following conditions is fulfilled provided that the financial statements of the constituent entity making the payment are also excluded from the consolidated financial statements for the period to which the report relates, but not otherwise:
2012/04/25
Committee: ECON
Amendment 180 #

2011/0308(COD)

Proposal for a directive
Article 40 – paragraph 1
The report referred to in Article 37 and the consolidated report referred to in Article 39 on payments to governments shall be publishedaudited and published as part of the annual financial statements as laid down by the laws of each Member State in accordance with Chapter 2 of Directive 2009/101/EC.
2012/04/25
Committee: ECON
Amendment 182 #

2011/0308(COD)

Proposal for a directive
Article 41 – paragraph 1
The Commission shall review and report, report and where appropriate take the initiative to amend the present directive on the implementation and effectiveness of this Chapter, in particular as regards the scope of the reporting obligations and the modalities of the reporting on a project basis. The Commission should also assess the introduction of the requirements laid down in the present chapter to other industries. The review should also take into account international developments and consider the effects on competitiveness and security of energy supply. It should be completed at the latest five years after the date of entry into force of this Directive. The report shall be submitted to the European Parliament and the Council, together with a legislative proposal, if appropriate.
2012/04/25
Committee: ECON
Amendment 221 #

2011/0298(COD)

Proposal for a directive
Recital 8
(8) It is appropriate to include in the list of financial instruments certainall commodity derivatives and others which are constituted and traded in such a manner as to give rise to regulatory issues comparable to traditional financial instruments.
2012/05/15
Committee: ECON
Amendment 489 #

2011/0298(COD)

Proposal for a directive
Article 4 – paragraph 2 – point 33 a (new)
33a) 'Market distorting positions' means positions which do not objectively reduce risks directly related to commercial activities related to the commodity and are above the level required to provide sufficient liquidity for positions which do objectively reduce risks directly related to commercial activities related to the commodity, or which otherwise disrupt the price discovery function of the market;
2012/05/15
Committee: ECON
Amendment 1097 #

2011/0298(COD)

Proposal for a directive
Article 59 – paragraph 1 – subparagraph 1 – introductory part
Member States shall ensure that regulated markets, operators of MTFcompetent authorities apply to regulated markets and OMTFs which admit to trading or trade commodity derivatives apply limits on the number of contracts which any given market members or participants, or class of market members or participants, can enter into over a specified period of time, or alternative arrangements with equivalent effect such as position management with automatic review thresholds , to be imposed in order to:
2012/05/15
Committee: ECON
Amendment 1108 #

2011/0298(COD)

Proposal for a directive
Article 59 – paragraph 1 – subparagraph 1 – point c a (new)
(c a) ensure price discovery for the physical market;
2012/05/15
Committee: ECON
Amendment 1111 #

2011/0298(COD)

Proposal for a directive
Article 59 – paragraph 1 – subparagraph 1 – point c b (new)
(cb) prevent the build-up of market distorting positions.
2012/05/15
Committee: ECON
Amendment 1116 #

2011/0298(COD)

Proposal for a directive
Article 59 – paragraph 1 – subparagraph 2
The limits or arrangements shall be transparent and non- discriminatory, specifying the persons to whom they apply and any exemptions, and taking account of the nature and composition of market participants and of the use they make of the contracts admitted to trading. In particular, they shall differentiate between positions which objectively reduce risks directly related to commercial activities related to the commodity, and other positions. They shall specify clear quantitative thresholds such as the maximum number of contracts persons can enter, taking account of the characteristics of the underlying commodity market, including patterns of production, consumption and transportation to market. They shall apply to both cash-settled and physically-settled contracts and for spot, single and all delivery month(s).
2012/05/15
Committee: ECON
Amendment 1129 #

2011/0298(COD)

Proposal for a directive
Article 59 – paragraph 2
2. Regulated markets, MTF and OMTFs shall inform their competent authority of the details of the limits or arrangements. The competent authority shall communicate the same information to ESMA which shall publish and maintain on its website a database with summaries of the limits or arrangements in force.
2012/05/15
Committee: ECON
Amendment 1134 #

2011/0298(COD)

Proposal for a directive
Article 59 – paragraph 3
3. The Commission shall be empowered to adopt delegated acts in accordance with Article 94 to determine (a) the limits or alternative arrangements on the number of contracts which any person can enter into over a specified period of time and the necessary equivalent effects of the alternative arrangements established in accordance with paragraph 1, as well as the conditions for exemptions. The limits or alternative arrangements shall take account of the conditions referred to in paragraph 1 and the limits that have been set by regulated markets, MTFs and OTFs. The limits or alternative arrangemen, (b) the proportion of contracts held across regulated market and MTF on commodity derivatives which do not objectively reduce risks directly related to commercial activities related to the commodity, versus contracts which do, (c) additional controls needed to ensure orderly operation of markets, and (d) the conditions for exemptions and for determining when positions objectively reduce risks directly related to commercial activities relating to the commodity. The limits shall take account of the conditions referred to in paragraph 1, the need for appropriate differentiation between commodities and categories of market participants, and the limits that have been set by trading venues. The limits determined in the delegated acts shall also take precedence over any measures imposed by competent authorities pursuant to Article 72(1) paragraph (g) of this Directive.
2012/05/15
Committee: ECON
Amendment 1141 #

2011/0298(COD)

Proposal for a directive
Article 59 – paragraph 4
4. Competent authorities shall not impose limits or alternative arrangements which are more restrictive than those adopted pursuant to paragraph 3 except in exceptional cases where they are objectively justified and proportionate taking into account the liquidity of the specific market and the orderly functioning of the market. The restrictions shall be valid for an initial period not exceeding six months from the date of its publication on the website of the relevant competent authority. Such a restriction may be renewed for further periods not exceeding six months at a time if the grounds for the restriction continue to be applicable. If the restriction is not renewed after that six-month period, it shall automatically expire. When adopting more restrictive measures than those adopted pursuant to paragraph 3, competent authorities shall notify ESMA. The notification shall include a justification for the more restrictive measures. ESMA shall within 24 hours issue an opinion on whether it considers the measure is necessary to address the exceptional case. The opinion shall be published on ESMA's website. Where a competent authority takes measures contrary to an ESMA opinion, it shall immediately publish on its website a notice fully explaining its reasons for doing so.deleted
2012/05/15
Committee: ECON
Amendment 1160 #

2011/0298(COD)

Proposal for a directive
Article 60 – paragraph 1 a (new)
1 a. Member States shall ensure that investment firms trading in commodity derivatives or emission allowances or derivatives thereof outside of a trading venue provide the competent authority, upon request, with a complete breakdown of their positions, in accordance with Article 23 of Regulation (EU) No .../... [MiFIR].
2012/05/15
Committee: ECON
Amendment 1171 #

2011/0298(COD)

Proposal for a directive
Article 60 – paragraph 3 – subparagraph 2
The reports mentioned in point (a) of paragraph 1 shouldall specify the number of long and short positions by category of trader, changes thereto since the previous report, percent of total open interest represented by each category, and the number of traders in each category. The reports mentioned in point (a) of paragraph 1 and in paragraph 1a shall also differentiate between: (i) positions that have been identified as positions which objectively reduce risks directly related to commercial activities related to the commodity; (ii) other positions.
2012/05/15
Committee: ECON
Amendment 1176 #

2011/0298(COD)

Proposal for a directive
Article 60 – paragraph 4 – subparagraph 1
ESMA shall develop draft implementing technical standards to determine the format of the reports mentioned in point (a) ofaragraph 1 and in paragraph 1,a and the content of the information to be provided in accordance with paragraph 2.
2012/05/15
Committee: ECON
Amendment 487 #

2011/0296(COD)

Proposal for a regulation
Article 23 – paragraph 2
2. The obligation laid down in paragraph 1 shall not apply to financial instruments which are not admitted to trading or traded on an MTF or an OTF, to financial instruments whose value does not depend on that of a financial instrument admitted to trading or traded on an MTF or an OTF, nor to financial instruments which do not or are not likely to have an effect on a financial instrument admitted to trading or traded on an MTF or an OTF.deleted
2012/05/14
Committee: ECON
Amendment 492 #

2011/0296(COD)

Proposal for a regulation
Article 23 – paragraph 3
3. The reports shall, in particular, include details of the type, asset class, names and numbers of the instruments bought or sold, the quantity, the dates and times of execution, the transaction prices, a designation to identify the clients on whose behalf the investment firm has executed that transaction, a designation to identify the persons and the computer algorithms within the investment firm responsible for the investment decision and the execution of the transaction, and means of identifying the investment firms concerned. For transactions not carried out on a regulated market, MTF or OTF, the reports shall also include a designation identifying the types of transactions in accordance with the measures to be adopted pursuant to Article 19(3)(a) and Article 20(3)(a).
2012/05/14
Committee: ECON
Amendment 705 #

2011/0296(COD)

Proposal for a regulation
Article 32 – paragraph 2 – subparagraph 1 – point a
(a) an investment product, a financial instrument or activity or practice gives rise to significant investor protection concerns or poses a serious threat to the orderly functioning and integrity of financial markets or the stability of whole or part of the financial system, or a derivative product has a detrimental effect on the price formation mechanism in the underlying market;
2012/05/14
Committee: ECON
Amendment 720 #

2011/0296(COD)

Proposal for a regulation
Article 32 a (new)
Article 32a Prohibition of certain financial instruments National competent authorities shall prohibit the marketing, distribution and sale of all financial instruments offering commodity index replications. This measure shall take effect six months after the entry into force of this Regulation.
2012/05/14
Committee: ECON
Amendment 131 #

2011/0203(COD)

Proposal for a directive
Article 51 – paragraph 1
1. The competent authorities of the Member States concerned shall collaborate closely in order to supervise the activities of institutions operating, in particular through a branch, in one or more Member States other than that in which their head offices are situated. They shall supply one another with all information concerning the management and ownership of such institutions that is likely to facilitate their supervision and the examination of the conditions for their authorisation, and all information likely to facilitate the monitoring of institutions, in particular with regard to liquidity, solvency, deposit guarantee, the limiting of large exposures, other factors that may influence the systemic risk posed by the institution, administrative and accounting procedures and internal control mechanisms.
2012/03/07
Committee: ECON
Amendment 134 #

2011/0203(COD)

Proposal for a directive
Article 51 – paragraph 2
2. The competent authorities of the home Member State shall provide the competent authorities of host Member States immediately with any information and findings pertaining to liquidity supervision in accordance with Part Six of Regulation [inserted by OP(EU) No .../2012 of the European Parliament and of the Council of ... [on prudential requirements for credit institutions and investment firms] and Title VII, Chapter 3 of this Directive of the activities performed by the institution through the branch, to the extent that such information is relevant for the protection of depositors or investors and taxpayers in the host Member State.
2012/03/07
Committee: ECON
Amendment 140 #

2011/0203(COD)

Proposal for a directive
Article 52 a (new)
Article 52a Conversion of systemic branches into subsidiaries If the operation of a branch in a host Member State reaches a level that the host country supervisor decides can pose systemic risk to its financial system, then it shall, in consultation with the ESRB, EBA and the home country authority, have the right to ask the branch to be converted into a subsidiary. In case of disagreement EBA's decision, working jointly with the ESRB, will be binding.
2012/03/07
Committee: ECON
Amendment 178 #

2011/0203(COD)

Proposal for a directive
Article 73 – paragraph 2
2. The arrangements, processes and mechanisms referred to in paragraph 1 shall be comprehensive and proportionate to the nature, scale and complexity of the risks inherent in the business model and the institution's activities. The technical criteria established in Sub-sections 2 and 3 shall be taken into account.
2012/03/07
Committee: ECON
Amendment 186 #

2011/0203(COD)

Proposal for a directive
Article 74 – paragraph 3
3. Competent authorities shall collect information on the number, names, titles and job responsibilities of individuals per institution in pay brackets of at least EUR 1 million, including the business area involved and the main elements of salary, bonus, long-term award and pension contribution. That information shall be forwarded to EBA, which shall publish it on an aggregate home Member State basis in a common reporting format. EBA may elaborate guidelines to facilitate the implementation of this paragraph and ensure the consistency of the information collected.
2012/03/07
Committee: ECON
Amendment 225 #

2011/0203(COD)

Proposal for a directive
Article 76 – paragraph 2 a (new)
2a. EBA, in conjunction with national authorities, shall develop a model portfolio of assets which will be valued and the riskiness of which will be assessed on the basis of their IRB models by all banks using IRB models in that Member State. The resulting differences in valuation and capital held against such a portfolio by each institution shall be used by EBA and competent authorities to develop a risk multiplier with which the institution being assessed shall multiply its imputed total IRB risk capital. In case of disputes between Member States and EBA, EBA's decision will prevail. For financial institutions that get more than 50% of their revenue (on a consolidated basis) from outside their home country, EBA shall develop such a portfolio and may consult competent authorities if necessary.
2012/03/07
Committee: ECON
Amendment 227 #

2011/0203(COD)

Proposal for a directive
Article 76 – paragraph 3 – subparagraph 2 a (new)
EBA shall develop technical standards to develop the minimum requirements for institutions to develop sufficient internal capacities in term of human resources and competences to ensure the internal rating as defined in paragraph 1 and 2. EBA shall submit those draft regulatory technical standards to the Commission by 1 January 2014. Power is conferred on the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with the procedure laid down in Article 14 of Regulation (EU) No 1093/2010.
2012/03/07
Committee: ECON
Amendment 228 #

2011/0203(COD)

Proposal for a directive
Article 76 – paragraph 3 – subparagraph 2 b (new)
Competent authorities, in cooperation with EBA, shall analyse and assess the performances of the internal ratings capacities within the institutions.
2012/03/07
Committee: ECON
Amendment 231 #

2011/0203(COD)

Proposal for a directive
Article 77 – point d a (new)
(da) The development of relationship based lending, where information gleaned from a continuing business relationship with clients is used to get a better quality of due diligence and risk assessment than is available purely from standardized information and credit scores will be encouraged.
2012/03/07
Committee: ECON
Amendment 233 #

2011/0203(COD)

Proposal for a directive
Article 81 – paragraph 3 – subparagraph 3 a (new)
Competent authorities shall develop guidelines to encourage institutions to reduce the pro-cyclically of their market risk management including through the gradual development of a mark to funding approach.
2012/03/07
Committee: ECON
Amendment 237 #

2011/0203(COD)

Proposal for a directive
Article 84 – paragraph 10
10. Competent authorities shall ensure that institutions have in place liquidity recovery plans setting out adequate strategies and proper implementation measures in order to address possible liquidity shortfalls, including in relation to branches established in another Member State. Those plans shall be regularly tested, updated on the basis of the outcome of the alternative scenarios set out in paragraph 7, be reported to and approved by senior management, so that internal policies and processes can be adjusted accordingly. Institutions shall take the necessary operational steps in advance to ensure that liquidity recovery plans can be implemented immediately. For credit institutions, such operational steps shall include holding collateral immediately available for central bank funding. This includes holding collateral where necessary in the currency of another Member State, or currency of a third country to which the credit institution has exposures, and where operationally necessary within the territory of a host Member State or third country whose currency it is exposed to. Competent authorities shall ensure that the institutions adopt the Basel III guidelines for a net stable funding ratio and a liquidity buffer starting in 2015.
2012/03/07
Committee: ECON
Amendment 344 #

2011/0203(COD)

Proposal for a directive
Article 89 – point a
(a) variable remuneration is strictly limited as a percentage of net revenue where it is inconsistent with the maintenance of a sound capital base and timely exit from government support, with any level greater than zero needing public explanation and justification and being subject to the approval of the Commission and EBA;
2012/03/07
Committee: ECON
Amendment 355 #

2011/0203(COD)

Proposal for a directive
Article 90 – paragraph 1 – subparagraph 1 – point f
(f) institutions shall set the appropriate ratios between the fixed and the variable component of the total remuneration where in no case shall the variable component exceed 75% of the base contractual salary;
2012/03/07
Committee: ECON
Amendment 360 #

2011/0203(COD)

Proposal for a directive
Article 90 – paragraph 1 – subparagraph 1 – point j – point i
(i) shares or equivalent ownership interests, subject to the legal structure of the institution concerned or share-linked instruments or equivalent non-cash instruments, in case of a non-listed institution but no share options;
2012/03/07
Committee: ECON
Amendment 362 #

2011/0203(COD)

Proposal for a directive
Article 90 – paragraph 1 – subparagraph 1 – point k – subparagraph 1
(k) a substantial portion, and in any event at least 460 %, of the variable remuneration component is deferred over a period which is not less than three to 5 years and is correctly aligned with the nature of the business, its risks and the activities of the member of staff in question.
2012/03/07
Committee: ECON
Amendment 363 #

2011/0203(COD)

Proposal for a directive
Article 90 – paragraph 1 – subparagraph 1 – point k – subparagraph 2
Remuneration payable under deferral arrangements shall vest no faster than on a pro-rata basis. In the case of a variable remuneration component of a particularly high amount, above EUR 100 000 at least 60 % of the amount shall be deferred. The length of the deferral period shall be established in accordance with the business cycle, the nature of the business, its risks and the activities of the member of staff in question;
2012/03/07
Committee: ECON
Amendment 502 #

2011/0203(COD)

Proposal for a directive
Article 126 a (new)
Article 126a Member State Specific Risk Buffers Member States which have larger than average banking systems or have otherwise made regulatory choices on acceptable risks to taxpayers that are more conservative than what other member states may be comfortable with, shall, with the approval of the ESRB using systemic risk methodology used to assess the requirements of Article 125 and 126, be allowed to have higher own funds requirements for institutions authorized in the country. These funds may not be in the form of pure equity with acceptable forms being determined by home country authorities subject to approval by the ESRB and the EBA but in no case should exceed twice the minimum level of capital required under the Basel III agreement including the Capital Conservation Buffers.
2012/03/07
Committee: ECON
Amendment 539 #

2011/0203(COD)

Proposal for a directive
Article 150 – paragraph 2
2. From 2014 onwards, EBA shall, in cooperation with EIOPA and ESMA, biannually publish a report about the extent legislation of Member States refers to external ratings and about steps taken by Member States to reducview and remove such references. This report shall also outline how competent authorities meet their obligations set out in Article 76(1) and (2) and in Article 77(1)(b). This report shall also outline the degree of supervisory convergence in this regard.
2012/03/07
Committee: ECON
Amendment 170 #

2011/0202(COD)

Proposal for a regulation
Recital 40 a (new)
(40a) Given the existing discrepancies in risk weights attributed for non-rated corporate exposures between the IRB approach and the standardized approach, the risk weight for non-rated corporate exposures under the standardized approach should be calculated on a country by country basis as the average of risk weights given under the IRB approach for this asset class. This would ensure a consistency between both approaches and promote corporate loans for small institutions unable to implement the IRB approach.
2012/03/07
Committee: ECON
Amendment 202 #

2011/0202(COD)

Proposal for a regulation
Recital 76
(76) Apart from short-term liquidity needs, credit institutions and investment firms should also adopt funding structures that are stable at a longer term horizon. In December 2010, the BCBS agreed that the NSFR will move to a minimum standard by 1 January 2018 and that the BCBS will put in place rigorous reporting processes to monitor the ratio during a transition period and will continue to review the implications of these standards for financial markets, credit extension and economic growth, addressing unintended consequences as necessary. The BCBS thus agreed that the NSFR will be subject to an observation period and will include a review clause. In this context, EBA shouldTherefore, specific provisions requiring institutions to maintain stable funding should be introduced no later than 1 January 2015. It is essential to this purpose that, once and every time the Basel Committee's proposals on liquid reserves and on limits to unstable funding are finalized, EBA and the ESRB, based on reporting required by this Regulation, evaluate how a stable funding requirement should be designed. Based on this evaluation, the Commission should report to Council and European Parliament together with any appropriate proposals in order to introduce such a requirement by 20185.
2012/03/07
Committee: ECON
Amendment 206 #

2011/0202(COD)

Proposal for a regulation
Recital 76 a (new)
(76a) Once such appropriate measures are defined, it is essential that financial institutions anticipate in a smooth and timely fashion the transition to the standards, lest any delay should increase the costs of transition and undermine financial stability. It is therefore appropriate that competent authorities are empowered to levy charges in order to encourage a smooth transition. Competent authorities should ensure that the charges are defined so as to contribute to financial stability.
2012/03/07
Committee: ECON
Amendment 209 #

2011/0202(COD)

Proposal for a regulation
Recital 83 a (new)
(83a) The primary duty of the legal framework for credit institutions should be to ensure the operation of vital services to the economy while limiting the risk of moral hazard. The structural separation of retail and investment banking activities within a banking group would be a key tool to support this objective. Nothing in this regulation should therefore prevent the introduction of measures to effect such a separation. The Commission should analyse the options for achieving such separation in the Union and produce a report, accompanied by legislative proposals, to the European Parliament and Council.
2012/03/07
Committee: ECON
Amendment 239 #

2011/0202(COD)

Proposal for a regulation
Article 3 – paragraph 1
This Regulation shall not prevent institutions from holding own funds and their components in excess of, or applying measures that are stricter than those required by this Regulation. It shall also not prevent competent authorities to require higher level of minimum own fund requirements from institutions registered in their jurisdiction if these meet requirements specified in Article 126 of Directive 2012/.../EU of the European Parliament and of the Council of ... [on the access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms].
2012/03/07
Committee: ECON
Amendment 245 #

2011/0202(COD)

Proposal for a regulation
Article 4 – paragraph 1 – point 14 a (new)
(14a) 'marking to funding' means allocating assets into buckets of intended holding period against funding of equal maturity and using average price over holding horizon rather than current market price to calculate value.
2012/03/07
Committee: ECON
Amendment 373 #

2011/0202(COD)

Proposal for a regulation
Article 25 – title
Capital instruments of mutuals, cooperative societies, savings banks or similar institutions in Common Equity Tier 1 items
2012/03/07
Committee: ECON
Amendment 378 #

2011/0202(COD)

Proposal for a regulation
Article 25 – paragraph 1 – point a
(a) the institution is of a type that is defined under applicable national law and which competent authorities consider to qualify as a mutual, cooperative society, savings bank or a similar institution for the purposes of this Part;
2012/03/07
Committee: ECON
Amendment 382 #

2011/0202(COD)

Proposal for a regulation
Article 25 – paragraph 1 – point b
(b) the conditions laid down in Articles 26 and 27 are met, taking into account their specific constitution and legal structure;
2012/03/07
Committee: ECON
Amendment 384 #

2011/0202(COD)

Proposal for a regulation
Article 25 – paragraph 2 – subparagraph 1 – introductory part
EBA shall develop draft regulatory technical standards to specify the following with a view to encouraging the development of a robust and diverse banking sector in the EU with a variety of different liability structures:
2012/03/07
Committee: ECON
Amendment 386 #

2011/0202(COD)

Proposal for a regulation
Article 25 – paragraph 2 – subparagraph 3
Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with the procedure laid down in Articles 10 to 14 of Regulation (EU) No 1093/2010, while ensuring the diversity of the European banking system.
2012/03/07
Committee: ECON
Amendment 399 #

2011/0202(COD)

Proposal for a regulation
Article 27 – title
Capital instruments issued by mutuals, cooperative societies, savings banks and similar institutions
2012/03/07
Committee: ECON
Amendment 402 #

2011/0202(COD)

Proposal for a regulation
Article 27 – paragraph 1
1. Capital instruments issued by mutuals, cooperative societies, savings banks and similar institutions shall qualify as Common Equity Tier 1 instruments only if the conditions laid down in Article 26 and this Article are met while ensuring the development of a banking system with diverse liability structures.
2012/03/07
Committee: ECON
Amendment 472 #

2011/0202(COD)

Proposal for a regulation
Article 46 – paragraph 3 – point b – point i
i) where the holding is in a central or regional credit institution, the institution with that holding is associated with that central or regional credit institution in a network subject to legal or statutory provisions and the central or regional credit institution is responsible, under those provisions, for cash-clearing operations within that network;deleted
2012/03/07
Committee: ECON
Amendment 483 #

2011/0202(COD)

Proposal for a regulation
Article 46 – paragraph 3 – point b – point v
v) the institution draws up and reports to the competent authorities the consolidthe consolidated or aggregated balance sheet referred to in point (e) of Article 108(7) no less frequently than own funds requirements are required to be reportand demonstrates in an appropriate manner that there is neither multiple gearing of elements eligible for the calculation of own funds nor any inappropriate creation of own funds between the members of the institutional protection scheme and reports these documents to the competent authorities no less frequently than required under Article 95108(7);
2012/03/07
Committee: ECON
Amendment 581 #

2011/0202(COD)

Proposal for a regulation
Article 87 – paragraph 4 – point b a (new)
(ba) the risk weighted exposure amounts for credit risk for loans to SMEs (as defined in Title II Chapter 3 Section 2 Sub-section 2 Art.148 (4)) have to be calculated in accordance with Title II and then multiplied by 0,7619 (application of an SMEs Supporting Factor), irrespective of the fact that the institution uses the method set out in Chapter 2 or in Chapter 3 of Part Three, Title II;
2012/03/08
Committee: ECON
Amendment 584 #

2011/0202(COD)

Proposal for a regulation
Article 87 a (new)
Article 87a For institutions deemed systemically risky by competent authorities or the ESRB, capital requirements as specified in Article 87, paragraph 1, shall be increased to: - 125% of the specified level if the institutions are deemed to pose moderate systemic risk -150% if the institutions are deemed to pose high systemic risk -200% if they are deemed to pose a grave systemic threat.
2012/03/08
Committee: ECON
Amendment 585 #

2011/0202(COD)

Proposal for a regulation
Article 87 b (new)
Article 87b 1. Small institutions with balance sheets of less than Euro 10 bn at the end of previous accounting years shall not be subject to determinations of being systemically risky by the ESRB as specified under Article 87a. The same applies to development banks that fulfil a promotional mission authorized by government and law. 2. Institutions with balance sheets of more than Euro 100 bn shall automatically be deemed to at least pose moderate systemic risk as proposed under Article 87a. 3. Institutions with balance sheets larger than Euro 250 bn shall automatically be deemed to pose at least high systemic risk 4. Institutions with balance sheets in excess of Euro 1,000 bn shall automatically be deemed to pose a grave systemic threat.
2012/03/08
Committee: ECON
Amendment 586 #

2011/0202(COD)

Proposal for a regulation
Article 87 c (new)
Article 87c The Commission shall propose definitions of these categories of systemic risk specified in Article 87a and the risk factors that go into their determination by the ESRB and competent authorities by 1 January 2013.
2012/03/08
Committee: ECON
Amendment 601 #

2011/0202(COD)

Proposal for a regulation
Article 100 – paragraph 2 – subparagraph 1 a (new)
Institutions shall develop, following technical standards to be issued by EBA latest by 1 Jan 2013, a marked to funding approach as specified in the definitions in this regulation. To begin with, this approach shall complement the marked to market, marked to model and book value approaches used by institutions and shall be reported alongside but after a trial period up to 2015, its effectiveness and use shall be evaluated by EBA which shall make a recommendation to the Commission as to whether the use of this approach should replace some of the other valuation approaches or at least be put on an equal statutory footing.
2012/03/08
Committee: ECON
Amendment 612 #

2011/0202(COD)

Proposal for a regulation
Article 109 – paragraph 4
4. Exposures to Member States' central governments and central banks denominated and funded in the domestic currency of that central government and central bank shall be assigned a risk weight of 0 %. In its future legislative proposal, the European Commission shall apply a 0% risk weight to eurobonds issued with some form of joint and several guarantee by Euro zone Member States.
2012/03/08
Committee: ECON
Amendment 622 #

2011/0202(COD)

Proposal for a regulation
Article 113 – paragraph 1 – point d a (new)
(da) the European Stabilisation Mechanism;
2012/03/08
Committee: ECON
Amendment 639 #

2011/0202(COD)

Proposal for a regulation
Article 117 – paragraph 2
2. Exposures for which such a credit assessment is not available shall be assigned a 100 % risk weight or the risk weight of its central government, whichever is the higher, except for SMEs for which a reduced rate may be applicable as defined elsewhere in this legislative package and as expected to be contained in the recommendations of EBA due September 2012.
2012/03/08
Committee: ECON
Amendment 642 #

2011/0202(COD)

Proposal for a regulation
Article 118 – paragraph 1 – introductory part
Exposures that comply with the following criteria shall be assigned a risk weight of 750 %:
2012/03/08
Committee: ECON
Amendment 657 #

2011/0202(COD)

Proposal for a regulation
Article 118 – paragraph 1 – point c a (new)
(ca) the exposure has been made on the basis of proper due diligence based on customer specific information gleaned from a relationship with the customer and not available on standard credit scores and databases that can be bought in the market.
2012/03/08
Committee: ECON
Amendment 679 #

2011/0202(COD)

Proposal for a regulation
Article 121 – paragraph 1 – introductory part
1. Unless otherwise decided by the competent authorities in accordance with Article 119(2), exposures fully and completely secured by mortgages on commercial immovable property shall be treated as follows: subject to a counter- cyclical risk weight adjustment factor that will range between 150% and 80% depending on the stage of the property cycle in the member state and this factor will be used to adjust the risk weights arrived at by the use of the following articles. This risk weight will be levied by competent member state authorities in consultation with the ESRB:
2012/03/08
Committee: ECON
Amendment 727 #

2011/0202(COD)

Proposal for a regulation
Article 140 – paragraph 3 a (new)
3a. The EBA, in conjunction with national authorities develop a model portfolio of assets which will be valued and the riskiness of which will be assessed on the basis of their IRB models by all banks using IRB models in that member state. The resulting differences in valuation and capital held against such a portfolio by each institution shall be used by the EBA and the national authority to develop a risk multiplier with which the institution being assessed will have to multiply its imputed total IRB risk capital. In case of disputes between Member States and the EBA, the EBA's decision will prevail.
2012/03/08
Committee: ECON
Amendment 728 #

2011/0202(COD)

Proposal for a regulation
Article 140 – paragraph 3 b (new)
3b. For financial institutions that get more than 50% of their revenue (on a consolidated basis) from outside their home country, EBA alone will develop such a portfolio and may consult with home/host supervisors if necessary but will make the decision on the capital multiplier on its own.
2012/03/08
Committee: ECON
Amendment 921 #

2011/0202(COD)

Proposal for a regulation
Article 401 – paragraph 1
1. Institutions shall at all times hold liquid assets, the sum of the values of which equals, or is greater than, the liquidity outflows less the liquidity inflows under stressed conditions so as to ensure that institutions maintain levels of liquidity buffers which are adequate to face any possible imbalance between liquidity inflows and outflows under gravely stressed conditions over a short period of timehirty days.
2012/03/09
Committee: ECON
Amendment 931 #

2011/0202(COD)

Proposal for a regulation
Article 402 a (new)
Article 402a Within one year after the international liquidity standards are agreed, EBA and ESRB shall evaluate their effectiveness and impact, and report to the Commission. The report shall be accompanied by draft regulatory technical standards. The Commission shall adopt regulatory standards defining an LCR and an NSFR and adopt them within one year by delegated act.
2012/03/09
Committee: ECON
Amendment 952 #

2011/0202(COD)

Proposal for a regulation
Article 404 – paragraph 1 – subparagraph 1 – point b
(b) transferable assets, including mortgage bonds, that are of extremely high liquidity and credit quality;
2012/03/09
Committee: ECON
Amendment 1009 #

2011/0202(COD)

Proposal for a regulation
Article 404 – paragraph 2 – point a – point iii a (new)
(iiia) bonds guaranteed by the central government of a Member State under a general programme;
2012/03/09
Committee: ECON
Amendment 1067 #

2011/0202(COD)

Proposal for a regulation
Article 404 – paragraph 5
5. Shares or units inheld through CIUs may be treated as liquid assets up to an absolute amount of 250 million EUR provided that the requirements in Article 127(3) are met and that the CIU, apart from derivatives to mitigate interest rate or credit risk, only invests in liquid assetse shares or units are liquid assets in accordance with the requirements of this article.
2012/03/09
Committee: ECON
Amendment 1246 #

2011/0202(COD)

Proposal for a regulation
Article 414 – paragraph 2 – introductory part
2. Where applicable, all items shall be presented in the following fivesix buckets according to the closer of their maturity date and the earliest date at which they can contractually be called:
2012/03/09
Committee: ECON
Amendment 1247 #

2011/0202(COD)

Proposal for a regulation
Article 414 – paragraph 2 – point e a (new)
(e a) after 36 months.
2012/03/09
Committee: ECON
Amendment 1265 #

2011/0202(COD)

Proposal for a regulation
Article 416 – paragraph 1
1. Institutions shall calculate their leverage ratio according to the methodology set out in paragraphs 2 to 10. A risk weight of 0% shall be attributed to lending to municipalities.
2012/03/09
Committee: ECON
Amendment 1323 #

2011/0202(COD)

Proposal for a regulation
Article 435 – paragraph 1 – point h
(h) the number, details, titles and job profiles of individuals being remunerated EUR 1 million or more per financial year, broken down into pay bands of EUR 500 000.
2012/03/09
Committee: ECON
Amendment 1336 #

2011/0202(COD)

Proposal for a regulation
Article 436 – paragraph 2 – subparagraph 2
EBA shall submit those draft implementing technical standards to the Commission by 30 June1 January 20143.
2012/03/09
Committee: ECON
Amendment 1469 #

2011/0202(COD)

Proposal for a regulation
Article 463 – paragraph 4
4. Subject to the limit specified Article 464(3), instruments, and the related share premium accounts, that qualified as original own funds under national transposition measures for point (ca) of Article 57 and Article 154(8) and (9) of Directive 2006/48/EC shall qualify as Additional Tier 1 items, notwithstanding the conditions laid down in Article 49 not being met.
2012/03/09
Committee: ECON
Amendment 1473 #

2011/0202(COD)

Proposal for a regulation
Article 463 – paragraph 5 a (new)
5a. Subject to the provisions of paragraph 7, instruments which, on the basis of the provisions of Article 154(9) of Directive 2006/48/EC, are recognised as capital within the meaning of Article 57(ca) of Directive 2006/48/EC shall qualify as Additional Tier 1 items, notwithstanding the conditions laid down in Article 464 and notwithstanding the conditions laid down in Article 49 not being met.
2012/03/09
Committee: ECON
Amendment 1474 #

2011/0202(COD)

Proposal for a regulation
Article 463 – paragraph 5 b (new)
5b. Subject to the limit specified in Article 464(2), instruments which until 31 December 2010 were recognised unconditionally under national law as capital within the meaning of Article 57(a) of Directive 2006/48/EC and which are covered by Article 154(9) of Directive 2006/48/EC shall qualify as Core Tier 1 items, notwithstanding the conditions laid down in Articles 26 and 27 not being met.
2012/03/09
Committee: ECON
Amendment 1551 #

2011/0202(COD)

Proposal for a regulation
Article 481 – paragraph 3 – subparagraph 1
By 31 December 20153, EBA shall report to the Commission on whether and how it would be appropriate to ensure that institutions use stable sources of funding, including an assessment of the impact on the business and risk profile of Union institutions or on financial markets or the economy and bank lending, with a particular focus on lending to small and medium enterprises and on trade financing, including lending under official export credit insurance schemes.
2012/03/09
Committee: ECON
Amendment 1554 #

2011/0202(COD)

Proposal for a regulation
Article 481 – paragraph 3 – subparagraph 2
By 31 December 20164, the Commission shall, on the basis of these reports, submit a report, and if appropriate a legislative proposal to the European Parliament and Council.
2012/03/09
Committee: ECON
Amendment 1560 #

2011/0202(COD)

Proposal for a regulation
Article 481 a (new)
Article 481 a In order to ensure a stable and common transition to liquidity standards, the competent authorities may levy prudential charges, to be set in proportion to the degree to which financial institutions' liquidity and stable funding ratios diverge from the regulatory technical standards on liquidity. In setting the charges, competent authorities shall have regard to market conditions.
2012/03/09
Committee: ECON
Amendment 1569 #

2011/0202(COD)

Proposal for a regulation
Article 482 – paragraph 1
1. The Commission shall submit by 31 December 20164 a report on the impact and effectiveness of the leverage ratio to the European Parliament and the Council. Where appropriate, the report shall be accompanied by a legislative proposal on the introduction of one or more levels for the leverage ratio that institutions would be required to meet, suggesting an adequate calibration for those levels and any appropriate adjustments to the capital measure and the total exposure measure as defined in Article 416.
2012/03/09
Committee: ECON
Amendment 1571 #

2011/0202(COD)

Proposal for a regulation
Article 482 – paragraph 2 – introductory part
2. For the purposes of paragraph 1, the EBA shall report to the Commission by 31 October 20164 on at least the following:
2012/03/09
Committee: ECON
Amendment 1580 #

2011/0202(COD)

Proposal for a regulation
Article 482 – paragraph 2 – point g
(g) whether 3%at would be an appropriate level for theway to introduce a risk weighted leverage ratio based on Tier 1 capital and, if not, what level would be the appropriate one;.
2012/03/09
Committee: ECON
Amendment 1592 #

2011/0202(COD)

Proposal for a regulation
Article 482 – paragraph 3 – introductory part
3. The report referred to in paragraph 2 shall cover at least the period from 1 January 2013 until 30 June 20164 and shall take account of at least the following:
2012/03/09
Committee: ECON
Amendment 1599 #

2011/0202(COD)

Proposal for a regulation
Article 485 – title
Retail exposureExposures to small and medium-sized enterprises and natural persons
2012/03/09
Committee: ECON
Amendment 1608 #

2011/0202(COD)

Proposal for a regulation
Article 485 – paragraph 2 – point b a (new)
(b a) an analysis of the effectiveness of the SMEs Supporting Factor with regard to Article 87
2012/03/09
Committee: ECON
Amendment 1614 #

2011/0202(COD)

Proposal for a regulation
Article 486 b (new)
Article 486 b Options for structural separation of retail and investment banking activities By 31 July 2012 the Commission shall review and report on the options for achieving the structural separation of retail and investment banking activities within the Union and shall submit this report to the European Parliament and the Council, accompanied by a legislative proposal.
2012/03/09
Committee: ECON
Amendment 1615 #

2011/0202(COD)

Proposal for a regulation
Article 486 a (new)
Article 486 a Reducing overreliance on external credit ratings By 31 December 2013, the Commission shall review and report on reducing the use of external ratings within the implementation of this Regulation and shall submit this report to the European Parliament and the Council, accompanied, where appropriate, by a legislative proposal in accordance with the Regulation 1060/2009 on credit rating agencies.
2012/03/09
Committee: ECON
Amendment 255 #

2011/0062(COD)

Proposal for a directive
Recital 32 a (new)
(32a) Consumers shall have the right to discharge their obligations under a credit agreement prior to the expiry of that agreement. In the case of credit agreements with a fixed borrowing rate, Member States may make the exercise of that right contingent on the existence of a valid interest on the part of the consumer, for example the sale of the item of immovable property on grounds of a change in personal circumstances (e.g. moving house, loss of employment, illness or divorce). The wish to pay a lower borrowing rate shall not in itself be deemed to constitute a valid interest.
2011/10/06
Committee: ECON
Amendment 259 #

2011/0062(COD)

Proposal for a directive
Recital 32 b (new)
(32b) Compensation payments in the event of early repayment must be objectively justified and calculated in a readily understandable way. The factors taken into account in such calculation must include possible advantages to the creditor, for example if the repayment is made at a time when market conditions favour the creditor.
2011/10/06
Committee: ECON
Amendment 302 #

2011/0062(COD)

Proposal for a directive
Article 2 – paragraph 2 – point b a (new)
(ba) ‘Start-up loans’ granted to a restricted customer segment, under statutory conditions and for a general interest purpose, free of interest, at a rate of interest lower than that prevailing on the market or at rates of interest no higher than those prevailing on the market.
2011/10/06
Committee: ECON
Amendment 329 #

2011/0062(COD)

Proposal for a directive
Article 3 – paragraph 1 – point l a (new)
(la) 'Compensation payment' means compensation for objectively justified costs, calculated in a readily understandable way, that are directly linked to early repayment of credit, including any loss of interest, if the repayment falls within a period for which the borrowing rate is fixed. In calculating the compensation payment, possible benefits for the creditor shall be taken into account, for example if the repayment is made at a time when market conditions are favourable to the creditor.
2011/10/06
Committee: ECON
Amendment 347 #

2011/0062(COD)

Proposal for a directive
Article 4 – paragraph 1 – subparagraph 1
Member States shall designate the competent authorities empowered to ensure the national implementation and enforcement of this Directive and shall ensure that they are granted all the powers and resources necessary for the efficient and effective performance of their duties.
2011/10/06
Committee: ECON
Amendment 470 #

2011/0062(COD)

Proposal for a directive
Article 9 – paragraph 2 – subparagraph 2
Member States shall ensure that wthen an offer binding on the creditor is provi credit agreement can only be concluded toif the consumer, it shall be accompanied by an ESIS. In such circumstances, Member States shall ensure that the credit agreement cannot be concluded until the consumer has been provided in a durable medium with an offer binding on the creditor and has had sufficient time to compare it with other offers, obtain third party advice if necessary and assess theirits implications and take an informed decision on whether to accept anthe offer, regardless of the means of conclusion of the contract, or if the consumer has been granted an adequate right of withdrawal following the conclusion of the agreement. In the case of a pre-contractual period of reflection, this shall be no less than 14 working days after the offer has been made.
2011/10/06
Committee: ECON
Amendment 656 #

2011/0062(COD)

Proposal for a directive
Article 18 – paragraph 1
1. Member States shall ensure that the consumer has a statutory or contractualthe right to discharge his obligations under a credit agreement prior to the expiry of that agreement. In suchthe cases, he shall be entitled to a reduction in the total cost of the credit, such a reduction consisting of the interest and the costs for the remain of credit agreements with a fixed borrowing rate, Member States may make the exercise of that right subject to the existence of a legitimate interest on the part of the consumer (for example the sale of the item of immovable property), in which connection the wish to pay a lower borrowing duration of the contrace shall not in itself be deemed to constitute a legitimate interest.
2011/10/06
Committee: ECON
Amendment 670 #

2011/0062(COD)

Proposal for a directive
Article 18 – paragraph 2 – subparagraph 1
Member States may providshall ensure that in the exercise of the right referred to context of early repayment the followin g paragraph 1 is subject to certain conditions. Such conditions may include time limitations on the exercise of the right, different treatment depending on the type of the borrowing rate, or restrictions with regard to the circumstances under which the right may be exercised. Member States may also provide that the creditor should be entitled to fair and objectively justified compensation for potential costs directly linked to early repayment of the credit. In any event, if the early repayment falls within a period for which the borrowing rate is fixed, exercise of the right may be made subject to the existence of a special interest on the part of the consumerrinciples are observed: (a) no penalties may be imposed; (b) in the case of credit agreements with a fixed borrowing rate, the creditor may, if appropriate, demand a compensation payment. The compensation payment must be objectively justified and calculated in a readily understandable way, in which connection only costs directly linked to early repayment of the credit, including loss of interest, may be claimed and, if appropriate, due account must be taken of benefits for the creditor in the form of favourable market conditions at the time repayment is made; (c) Member States may limit or rule out compensation payments; (d) in the case of credit agreements with a variable borrowing rate, compensation payments shall be ruled out; (e) the consumer must be informed prior to the conclusion of the agreement of the conditions governing early repayment and the method of calculating possible compensation payments.
2011/10/06
Committee: ECON
Amendment 677 #

2011/0062(COD)

Proposal for a directive
Article 18 – paragraph 2 – subparagraph 2
Where a Member State lays down such conditions, these shall not make the exercise of the right referred to in paragraph 1 excessively difficult or onerous for the consumer.deleted
2011/10/06
Committee: ECON
Amendment 696 #

2011/0062(COD)

Proposal for a directive
Article 18 d (new)
Article 18d Payment flexibility Member States shall ensure that creditors allow consumers to make payments which exceed the amount required by the amortisation structure of the loan contained in the credit agreement without penalty so that consumers subsequently have the right to redeem the payments scheduled in accordance with the amortisation structure up to the value by which they have previously exceeded the required amount. In the case of credit agreements with a fixed borrowing rate, Member States shall ensure that the repayment flexibility arrangements are not used to avoid making compensation payments which may be required to the creditor.
2011/10/06
Committee: ECON
Amendment 701 #

2011/0062(COD)

Proposal for a directive
Article 18 c (new)
Article 18 c Switching of creditor 1. Member States may foresee that creditors can transfer credit agreements or portfolios of credit agreement to other financial institutions but only with the clear consent of the consumer and only as long as the loan conditions are not altered to the disadvantage of the consumer. This paragraph shall be without prejudice to Article 122a of Directive 2006/48/EC. Member States shall ensure that mortgages portfolios are transferable to a new lender without registration of a new mortgage deed for each loan in the transferred portfolio. 2. Unless in the case of credit agreements with a fixed rate, Member States shall ensure that consumers also have the right to transfer a credit agreement to a new creditor which is prepared to accept the transfer and which makes a binding offer to the consumer provided that (a) the binding offer significantly improves the economic conditions for the consumer either by an improvement of at least 100 basis points in the interest rate or by an extension or reduction of more than a third in the length of the repayment period for the outstanding debt; (b) the creditor refuses to make a binding offer before the expiry of the offer made by the new creditor which at least matches the terms of the binding offer made by the new creditor; and (c) the creditor receives adequate compensation where appropriate according to national law. Member States shall ensure in such cases that the compensation does not constitute a penalisation of the consumer and that once a credit agreement has been in force for five years the compensation shall not be higher than 1 % of the outstanding debt.
2011/10/06
Committee: ECON
Amendment 706 #

2011/0062(COD)

Proposal for a directive
Article 18 a (new)
Article 18a European Mortgage Key Identifier 1. Member States shall ensure that a European Mortgage Key Identifier (EMKI) is assigned to every new credit agreement. 2. The EMKI shall be a standard code expressed in alphanumeric characters that contains at least the following information: (a) the Member State where the property that serves as collateral is located; (b) the creditor who granted the credit; (c) the data used to identify the property in a register that provides information on rights to residential immovable property; 3. The Commission shall be empowered to adopt delegated acts in accordance with Article 26, to further specify the characteristics of the EMKI and the procedures for the assignment of the EMKI.
2011/10/06
Committee: ECON
Amendment 708 #

2011/0062(COD)

Proposal for a directive
Article 18 b (new)
Article 18b Registers of credit agreements related to residential immovable property 1. Member States shall ensure that the commencement, modification or termination of any credit agreement located in their territory is reported to a register designated by the Member State. 2. Such reports shall contain at least the following information: (a) the EMKI; (b) the identification of the residential immovable property to which the credit agreement relates; (c) the amount of the loan; (d) the maturity of the loan; (e) the currency in which the loan is denominated; (f) the creditor who granted the credit; (g) the consumer who has taken out the loan. 3. This information must be available on a centralised basis to the parties to the agreement, credit intermediaries and creditors who are directly involved, holders of rights under the agreement or to the item of immovable residential property in question and the competent authorities. If loans are securitised or sold on, with the consent of the current creditor potential buyers shall be given access to information relevant to them. 4. Member States shall ensure that the consumer's personal rights are safeguarded.
2011/10/06
Committee: ECON
Amendment 60 #

2010/2105(INI)

Motion for a resolution
Paragraph 3 a (new)
3 a. Considers that, while major progress has been achieved recently both on the regulatory and the supervisory sides, the tax policy is the missing dimension in the EU approach to the financial sector;
2010/11/16
Committee: ECON
Amendment 62 #

2010/2105(INI)

Motion for a resolution
Paragraph 3 b (new)
3 b. Recalls that the financial damage caused by tax evasion and tax fraud in Europe is estimated between EUR 200 and 250 billion every year; points out against this background that innovative financing should not only focus on new tools but also on substantial progress in combating tax evasion and tax fraud, which would have significant budgetary impacts;
2010/11/16
Committee: ECON
Amendment 81 #

2010/2105(INI)

Motion for a resolution
Paragraph 7
7. Should no international agreement be reached within the next few months, urges the EU to move ahead with legislative proposals on the introduction of an EU FTT; stresses that a low rate between 0.01 and 0.05% would preventnot lead to major shifts in activity towards other, lower-taxed jurisdictions but would instead shift financial transactions from economically and socially harmful activities to beneficial ones;
2010/11/16
Committee: ECON
Amendment 90 #

2010/2105(INI)

Motion for a resolution
Paragraph 8
8. Points out that some EU Member States have already introduced similar types of transaction taxes with no apparent negative impactproviding therefore some experience for a future FTT so as to avoid negative impacts of ill-designed tax instruments;
2010/11/16
Committee: ECON
Amendment 96 #

2010/2105(INI)

Motion for a resolution
Paragraph 8 a (new)
8 a. Considers that a well designed FTT would cover most financial transactions, as a result of which a shift to less or non- taxed products could be avoided, trade relocations be minimised and tax avoidance be prevented; is of the opinion that, for a final judgement about the merits of an FTT, the focus should be on both, financial aspects as well as its contribution to market stability and integrity;
2010/11/16
Committee: ECON
Amendment 113 #

2010/2105(INI)

Motion for a resolution
Paragraph 12
12. Calls on the Commission also to address in its feasibility study the geographical asymmetry of transactions and revenues and the possibility of a graded or differentiated rate on the basis of the asset category, the nature of the actor involved or the short-term and speculative nature of the transactionas well as the tax incidence;
2010/11/16
Committee: ECON
Amendment 114 #

2010/2105(INI)

Motion for a resolution
Paragraph 12 a (new)
12 a. Calls on the Commission to analyse in its feasibility study the different possible options for an EU FTT with their impacts including the benefits for the economy and society for the reduction of speculative financial transactions, which currently cause severe market distortions;
2010/11/16
Committee: ECON
Amendment 118 #

2010/2105(INI)

Motion for a resolution
Paragraph 13
13. Stresses that an EU FTT should have the broadest base possible so as to guarantee a level playing field in the financial markets and not drive transactions to less transparent vehicles; considers, therefore, that all transactions with financial assets such as exchange traded spot and derivatives transactions traded on markets as well as Over-The-Counter (OTC) derivatives should be covered;
2010/11/16
Committee: ECON
Amendment 71 #

2010/2099(INI)

Motion for a resolution
Recital M
M. whereas cin der Erwägung, dass die Koheärence between short, medium az zwischen kurz-, mittel- und loang-term public investments needs to be strengthened and whereas thosfristigen öffentlichen Investitionen gestärkt werden muss, und in der Erwägung, dass solche iInvestments, in particular regarding infrastructure, need to be used efficiently and allocated to the objectives of theitionen mit konkreten Wirtschafts- und Beschäftigungszielen im Rahmen der Strategie für Europea 2020 Strategy, in particular regarding research and development, innovation and education in order to increase competitiveness averknüpft werden müssen, mit einem besonderen Fokus auf nachhaltigem Wachstum, Beschäftigung und der Bekämpfung von Armut, um die Wettbewerbsfähigkeit zu stärken und denhance productivity sozialen Zusammenhalt zu fördern,
2010/09/10
Committee: ECON
Amendment 97 #

2010/2099(INI)

Motion for a resolution
Annex 1 – heading 1 – paragraph 1 – indent 4
- Establish common rules– Festlegung gemeinsamer Regeln foür a moreine acktive use of the Broad Economic Policy Guidelines as a key tool for economic guidance, surveillance and Member State- re Anwendung der Grundzüge der Wirtschaftspolitik als ein Schlüsselinstrument der wirtschaftlichen Ausrichtung, Überwachung und mitgliedstaatspeczific recommendations in line with theschen Empfehlungen im Einklang mit der EU 2020 s-Strategy, focusing on growth, structural reforms, productivity and competitiveness, while taking into consideration thie, wobei der Schwerpunkt auf nachhaltiges Wachstum, Beschäftigung, Wettbewerbsfähigkeit und die Bekämpfung von Armut zu legen ist und gleichzeitig die cKonvergences azen und dDivergences between Members States, strengthening the relative competitive advantages of Member States, the resilience of the economy tozen zwischen Mitgliedstaaten zu berücksichtigen sind, die relativen Wettbewerbsvorteile der Mitgliedstaaten auszubauen sind, die Widerstandfähigkeit der Volkswirtschaft gegenüber external sen Schocks aund the impact that Member States' decisions may have on other Member States,die Auswirkungen, die Entscheidungen von Mitgliedstaaten auf andere Mitgliedstaaten haben können, Berücksichtigung finden müssen.
2010/09/10
Committee: ECON
Amendment 136 #

2010/2099(INI)

Motion for a resolution
Annex 1 – heading 2 – paragraph 1 – introductory part
ThDer zu verabschiedende lLegislative act to be adopted (on the basis of, inter alia,akt (auf der Grundlage u.a. von Articlekel 126 TFAEUV) should aim in particular to strengthen thollte insbesondere darauf abzielen, die preäventive arm of the SGP and include economically and politically more sensiblKomponente des SWP zu stärken und wirtschaftlich und politisch spürbare sSancktions, while taking due account of then umfassen und dabei die sStruckture of the budget and the nature of the national public expenditure needed des Haushalts und die Art der nationalen öffentlichen Ausgaben, die foür growth enhancing structural reformsklare wirtschaftspolitische Zielvorstellungen und intelligente Wachstumsstrategien erforderlich sind, gebührend berücksichtigen:
2010/09/10
Committee: ECON
Amendment 223 #

2010/2099(INI)

Motion for a resolution
Annex 1 – heading 5 – paragraph 1 – indent 3
Develop a commoEntwicklung einer koordinierten bBudgetary strategy or guidelines for national budgets and the EU budget in line with thepolitik oder von Leitlinien für die nationalen Haushalte und den EU- Haushaltsplan verknüpft mit klaren wirtschaftspolitischen Zielvorstellungen und intelligenten Wachstumsstrategien im Rahmen der Europea 2020 s-Strategy,ie.
2010/09/10
Committee: ECON
Amendment 230 #

2010/2099(INI)

Motion for a resolution
Annex 1 – heading 5 – paragraph 1 – indent 5
– Establish a high-level tax policy insetzung einer hochrangigen Arbeitsgroup chaired by the Cpe für Steuerpolitik unter Leitung der Kommission wmith a mandate to work for a einem Mandat, an einem strategic aschen und pragmatic approach to tax policy issuesschen Konzept für steuerpolitische Fragen in theder Union, while paying particular attention to combating tax fraud, reinvigorated the code of conduct on business taxatio zu arbeiten und gleichzeitig der Bekämpfung von Steuerbetrug besondere Aufmerksamkeit zu widmen, den Verhaltenskodex zur Unternehmensbesteuerung mit neuem Leben zu erfüllen aund facilitating the adoption of the Commodie Annahme der gemeinsamen Ckonsolidated Corporate Tax Base and growth-enhancing tax reformierten Körperschaftssteuer– Bemessungsgrundlage und wachstumsfördernde Steuerreformen zu erleichtern unter besonderer Berücksichtigung des sozialen Zusammenhalts.
2010/09/10
Committee: ECON
Amendment 18 #

2010/2074(INI)

Motion for a resolution
Recital D
D. whereas at the G20unprecedented market and regulatory failures prompted the G20 to decide at its meetings in Pittsburgh it was decidedLondon and Pittsburgh to increase the quality of capital, to strengthen risk coverage, to mitigate pro-cyclicality, to discourage leverage and introduce a leverage ratio, and define liquidity standardto strengthen liquidity risk requirements as well as forward looking provisioning for credit losses,
2010/06/15
Committee: ECON
Amendment 22 #

2010/2074(INI)

Motion for a resolution
Recital F
F. whereas a "one size fits all" approach is detrimental to the European banking industry and consequently may harm economic growth and economic recovery, this means that a balance needs to be struck between a more standardized approach that is less susceptible to being arbitraged and a more customized approach that takes into account the diversity of the European banking sector,
2010/06/15
Committee: ECON
Amendment 33 #

2010/2074(INI)

Motion for a resolution
Recital I
I. whereas convergence between reporting for accounting purposes and, reporting for regulatory purposes is essentialand reporting for tax purposes is desirable in order to ensure that supervisors, tax authorities and investors are provided with the same transparent and clear information, and whereas dual reporting must be avoidedthough there may be a role for simultaneous multiple reporting frameworks to provide additional customized information,
2010/06/15
Committee: ECON
Amendment 46 #

2010/2074(INI)

Motion for a resolution
Recital J a (new)
Ja. whereas excessive maturity mismatches and an increasing overdependence on short term borrowing in the past decade was a significant contributor to the morphing of the crisis from a US subprime crisis into a global banking crisis; notwithstanding this, there has not been any relevant regulation to curb this excessive maturity mismatch in a meaningful way thus far,
2010/06/15
Committee: ECON
Amendment 47 #

2010/2074(INI)

Motion for a resolution
Recital J b (new)
Jb. whereas the excessive leverage and maturity mismatches were driven primarily by compensation maximising behaviour by bankers without any regard to the negative consequences on the real economy and tax payers; whereas there is a need for proposals that seriously curb risky practices including through imposing strict caps on bonuses at an absolute level and relative to base salary,
2010/06/15
Committee: ECON
Amendment 48 #

2010/2074(INI)

Motion for a resolution
Recital J c (new)
Jc. whereas the fact that the Basel II accord favours large banks over small, international banks over domestic ones and universal banks over simpler rivals is now well recognized and needs to be urgently addressed so as to stimulate more competition in the financial sector and penalize the systemic risk posed by large institutions,
2010/06/15
Committee: ECON
Amendment 49 #

2010/2074(INI)

Motion for a resolution
Recital J d (new)
Jd. whereas the indiscriminate application of Basel II and excessive uniformity of standards has led to a reduction in the natural diversity of the banking system and needs to be corrected,
2010/06/15
Committee: ECON
Amendment 50 #

2010/2074(INI)

Motion for a resolution
Paragraph 1 a (new)
1a. Welcomes the efforts made by the Basel Committee and the Commission; stresses however that new capital requirement rules should be drafted and implemented with care and their impacts should also be analysed in the wider regulatory overhaul framework;
2010/06/15
Committee: ECON
Amendment 51 #

2010/2074(INI)

Motion for a resolution
Paragraph 2
2. Has concerns about structural deficits and imbalances in the current proposal, as well as the risk of harming economic recovery and economic growth; takes the view that, considering the current economic situation, it will be necessary to monitor that banks are not passing on the cost of the forthcoming proposal to end users of financial services;
2010/06/15
Committee: ECON
Amendment 53 #

2010/2074(INI)

Motion for a resolution
Paragraph 2 a (new)
2a. Stresses the need to reinforce the interaction between the supervisory review process (Pillar 2) and disclosure (Pillar 3) by making the results of stress tests and capital add-ons available to the public;
2010/06/15
Committee: ECON
Amendment 56 #

2010/2074(INI)

Motion for a resolution
Paragraph 3
3. Recalls the important specificities of the European banking sector, such as the variety of business models operating under different legal forms and the fact that the corporate sector is predominantly financed through bank lending; calls therefore for a comprehensive examination of micro and macro-economic consequences entailed to the new proposed rules;
2010/06/15
Committee: ECON
Amendment 58 #

2010/2074(INI)

Motion for a resolution
Paragraph 4
4. Urges the Basel Committee as well as the Commission to take proper account of such specificities, as well as; stresses the need to clearly differencestiate between investment and traditional retail banking services, commercial, cooperative and savings banks in the revised Basel II rules;
2010/06/15
Committee: ECON
Amendment 62 #

2010/2074(INI)

Motion for a resolution
Paragraph 5
5. AskExpects the Commission to play an become more pro-active part in the process of reforming the Basel II rules, to promote and safeguard European interests, to coordinate the approaches of the Member States in order to achieve the best outcome for the European economy and to provide Parliament with regular reports on ongoing negotiations;
2010/06/15
Committee: ECON
Amendment 67 #

2010/2074(INI)

Motion for a resolution
Paragraph 6
6. Acknowledges the importance of an international level playing field; points out, however, that that aim should not place the European economy and European industry at a competitive disadvantage; is convinced that the diversity of the banking sector should be reinforced rather than further harmed;
2010/06/15
Committee: ECON
Amendment 73 #

2010/2074(INI)

Motion for a resolution
Paragraph 7
7. Stresses that the full commitment of all parties engaged in the Basel process to a clear and coherent implementation calendar is a precondition for successful reform, ensuring an international level playing field and avoiding regulatory arbitrage; calls on the Commission to strongly encourage all jurisdictions involved in the Basel process to implement agreed rules in a synchronised way;
2010/06/15
Committee: ECON
Amendment 76 #

2010/2074(INI)

Motion for a resolution
Paragraph 8
8. Underlines that the implementation timetable must take account of the recovery process in Europe and reflect the overall impact of the revised standards on the industry and its capacity for lending to the real economy without excluding the possibility of grandfathering, phasing in or, if necessary, calendar revision;
2010/06/15
Committee: ECON
Amendment 88 #

2010/2074(INI)

Motion for a resolution
Paragraph 12
12. Calls on the Commission for a proper assessment to be made of the impact on the real economy, with a special focus on SME financing before implementing new rules;
2010/06/15
Committee: ECON
Amendment 97 #

2010/2074(INI)

Motion for a resolution
Paragraph 13
13. Calls on the Commission to create incentives for the banking sector to manage risk and profit with a view to long-term outcomes and to encourage banks to keep loans on their own books without excessive securitisation and to fully consolidate someall off-balance sheets witems like SPVhout exceptions;
2010/06/15
Committee: ECON
Amendment 105 #

2010/2074(INI)

Motion for a resolution
Paragraph 14
14. Supports the initiative to increase the quality and level of capital in response to the crisis; recalls that this issue is intimately linked to accounting rules thus implying a consistent approach, having in mind as well global convergence;
2010/06/15
Committee: ECON
Amendment 118 #

2010/2074(INI)

Motion for a resolution
Paragraph 16 a (new)
16a. Urges the Commission to review the proposed eligibility criteria for core tier 1 capital and restrict the catalogue to those criteria which are necessary to ensure the quality of capital (i.e. permanence, loss absorbance, flexibility of payment);
2010/06/15
Committee: ECON
Amendment 119 #

2010/2074(INI)

Motion for a resolution
Paragraph 16 b (new)
16b. Stresses that the tax treatment of coupons and dividends is not relevant for defining the quality of capital; calls therefore on the Commission to abstain from additional eligibility criteria in relation to the tax treatment of hybrid instruments;
2010/06/15
Committee: ECON
Amendment 134 #

2010/2074(INI)

Motion for a resolution
Paragraph 18 a (new)
18a. Calls on the Commission to conduct a comprehensive survey on capital instruments before and after the crisis to assess the importance of specific capital instruments and their relevance in a crisis situation;
2010/06/15
Committee: ECON
Amendment 150 #

2010/2074(INI)

Motion for a resolution
Paragraph 20
20. Is of the view that a "liquidity coverage ratio" should take greater account of the risk of concentration of eligible assets in any liquidity buffer, encourage diversification and discourage excessive concentration into one particular asset class; underlines that this ratio, when properly designed will improve institutions’ resilience to liquidity risk;
2010/06/15
Committee: ECON
Amendment 164 #

2010/2074(INI)

Motion for a resolution
Paragraph 21
21. Calls, in the event of any structural liquidity standard being set, for a comprehensive impact assessment as well as for proper recognition of stable sources of funding specific to Europe (i.e. real- estate financing);
2010/06/15
Committee: ECON
Amendment 168 #

2010/2074(INI)

Motion for a resolution
Paragraph 21 a (new)
21a. Draws attention however to the likelihood that high quality liquid assets can become promptly illiquid in times of crisis and insists that such type of ratio should be integrated as a factor in stress tests together with a net stable funding requirement (NSFR);
2010/06/15
Committee: ECON
Amendment 184 #

2010/2074(INI)

Motion for a resolution
Paragraph 25
25. Recognises the benefits of through-the- cycle provisioning (expected loss approach) as a possible additional measure to reduce pro-cyclicality and encourage recognition of expected credit losses with regard to the business cycle;
2010/06/15
Committee: ECON
Amendment 189 #

2010/2074(INI)

Motion for a resolution
Paragraph 26 a (new)
26a. Stresses the importance to introduce counter-cyclical capital requirements which would allow regulators to require banks to increase their minimum capital requirements in the view of the bank's individual exposure to emerging risks or to lower their minimum capital requirements during periods of prolonged lending and investment droughts or asset price deflation;
2010/06/15
Committee: ECON
Amendment 190 #

2010/2074(INI)

Motion for a resolution
Paragraph 26 b (new)
26b. Points out that counter-cyclical regulation requires harmonised criteria to ensure a comprehensive and careful monitoring of the financial markets and the market environment by supervisory authorities, including amongst others full exchange of information, synchronisation of regulatory actions as well as real time monitoring of exposures and risk including through a requirements for audit trails on all financial market transactions;
2010/06/15
Committee: ECON
Amendment 193 #

2010/2074(INI)

Motion for a resolution
Paragraph 27
27. Notes the concept of a "crude" LR as a possiblvery useful, simple and hard to manipulate backstop against building excessive leverage, but has strong concerns about its added value of the kind that was built up before the crisis through the manipulation of complex Basel based capital requirements;
2010/06/15
Committee: ECON
Amendment 202 #

2010/2074(INI)

Motion for a resolution
Paragraph 28
28. Is of the view that such a ratio, in order to be effective, must compriseinclude all off- balance sheet items and derivatives, must be clearly defined, simple and comparable internationally and should take into account the different leverage ratios existing internationally;
2010/06/15
Committee: ECON
Amendment 211 #

2010/2074(INI)

Motion for a resolution
Paragraph 29
29. Is, however, concerned that a crude LR may penalise entities providing of the view that the maximum leverage cap should be low enough so it does not permit the excessive risk taking seen in the run up to the current crisis but high enough so as to not penalize traditional low-risk banking services (such as corporate and real-estate financing) or economies where the corporate sector is financed predominantly through lending;
2010/06/15
Committee: ECON
Amendment 224 #

2010/2074(INI)

Motion for a resolution
Paragraph 30
30. Asks the Basel Committee and the Commission to explore alternativesupplements to a crude LR, such as setting backstop limits for business linanking activities and portfolios;
2010/06/15
Committee: ECON
Amendment 230 #

2010/2074(INI)

Motion for a resolution
Paragraph 30 a (new)
30a. Calls for an additional consideration of alternative forms of Leverage Ratio in Pillar 2; points out that a Leverage Ratio could for example have a flexible margin and supervisory authorities would have the discretion to act upon the breach of the limit;
2010/06/15
Committee: ECON
Amendment 240 #

2010/2074(INI)

Motion for a resolution
Paragraph 32
32. Calls for enhanced standards as regards stress-tests, back-tests and addressing wrong-way risk as well as assessments of long-term social and environmental risks arising from companies and projects receiving bank loans;
2010/06/15
Committee: ECON
Amendment 243 #

2010/2074(INI)

Motion for a resolution
Paragraph 32 a (new)
32a. Calls for additional capital requirements for lending related to derivative instruments especially for OTC transactions;
2010/06/15
Committee: ECON
Amendment 247 #

2010/2074(INI)

Motion for a resolution
Paragraph 33
33. Call for different capital treatment for an OTC transaction and a transaction through a central counterparty (CCP), provided that the CCP meets high-level requirements to be defined in European legislation while taking into account standards agreed at international level, with due regard for the potential costs for the corporate sector of using derivatives to hedge its commercial activities;
2010/06/15
Committee: ECON
Amendment 254 #

2010/2074(INI)

Motion for a resolution
Paragraph 34
34. Underlines that the crisis has shown that interconnectedness between financial institutions is greater than interconnectedness between financial institutions and corporates, and takes the view that capital requirements for CCR should reflect that factbe more strict for exposures of financial institutions to other financial institutions and also reflect the dynamic nature of this risk over time; stresses that careful monitoring of the interconnectedness is necessary to detect a concentration of transactions between large players and to take subsequent regulatory measures regarding the CCR;
2010/06/15
Committee: ECON
Amendment 256 #

2010/2074(INI)

Motion for a resolution
Paragraph 34 a (new)
34a. Calls for the Commission to issue capital and liquidity standards, counter- cyclicality provisions and systemic risk penalties for the shadow banking system and other non bank channels for credit provision; considers that these regulations have to be, to the extent possible, equivalent to bank regulations;
2010/06/15
Committee: ECON
Amendment 11 #

2010/2008(INI)

Motion for a resolution
Recital C a (new)
Ca. whereas the basis for international cooperation should be established in order to handle internationally traded derivatives so as to achieve international standards and information sharing arrangements between CCPs as a minimum,
2010/04/13
Committee: ECON
Amendment 56 #

2010/2008(INI)

Motion for a resolution
Recital I
I. whereas, as a rule, non-financial institutions’ interest rate, foreign-exchange and commodity contracts need no additional regulation, but such measures cannot be ruled out in future,
2010/04/13
Committee: ECON
Amendment 62 #

2010/2008(INI)

Motion for a resolution
Recital I a (new)
Ia. whereas derivatives speculation has had serious social consequences, in particular with regard to agricultural products; whereas speculation with credit default swaps has had grave economic consequences for some Member States of the euro area,
2010/04/13
Committee: ECON
Amendment 112 #

2010/2008(INI)

Motion for a resolution
Paragraph 4
4. Notes that, as regards regulation, a distinction must be made between derivatives to hedge firms’real transactions and pureby firms and financial market derivatives for purely speculative purposes;
2010/04/13
Committee: ECON
Amendment 116 #

2010/2008(INI)

Motion for a resolution
Paragraph 4 a (new)
4a. Calls on the commission to look into ways of reducing the overall volume of derivatives significantly so the volume is proportionate to the underlying securities so as to avoid a distortion of price signals and reducing the risk to market integrity and cutting down systemic risk;
2010/04/13
Committee: ECON
Amendment 117 #

2010/2008(INI)

Motion for a resolution
Paragraph 4 b (new)
4b. Considers important to pay particular attention to corporate derivatives to which a financial institution is a counterparty in order to avoid abusing such contracts not as corporate risk but as financial market instruments;
2010/04/13
Committee: ECON
Amendment 118 #

2010/2008(INI)

Motion for a resolution
Paragraph 4 c (new)
4c. Warns about the access of unsophisticated investors to derivatives trading and calls for a monitoring of such practises;
2010/04/13
Committee: ECON
Amendment 181 #

2010/2008(INI)

Motion for a resolution
Paragraph 12 a (new)
12a. Insist on the need to have regulatory standards to ensure that CCPs remain resilient to a broader set of risks, including multiple participant failures, sudden sales of financial resources and rapid reduction in market liquidity;
2010/04/13
Committee: ECON
Amendment 192 #

2010/2008(INI)

Motion for a resolution
Paragraph 14
14. Backs the Commission in its intention to provide for exemptions and lower capital requirements for SMEs’ bilateral derivatives, providing that the relevant underlying risk is also taken into account;
2010/04/13
Committee: ECON
Amendment 207 #

2010/2008(INI)

Motion for a resolution
Paragraph 15
15. Calls, as a matter of priority, for credit default swaps to be made subject to independent central clearing and, if necessary, checked to establish whether individual types of derivative with cumulative risks or entailing a potential economic risk should only be conditionally authorised or even, on a case-by-case basis, prohibited;
2010/04/13
Committee: ECON
Amendment 211 #

2010/2008(INI)

Motion for a resolution
Paragraph 15 a (new)
15a. Demands that CDS protection should be payable only upon the production and proof of an underlaying bond exposure and be limited to the amount of this exposure;
2010/04/13
Committee: ECON
Amendment 218 #

2010/2008(INI)

Motion for a resolution
Paragraph 16
16. Is of the view that all high-risk derivatives from non-financial institutions must also be regulated despite accounting, according to the market analyses to hand, for a small proportion of the totalmust be regulated;
2010/04/13
Committee: ECON
Amendment 226 #

2010/2008(INI)

Motion for a resolution
Paragraph 16 a (new)
16a. Calls on the Commission to examine more closely the extent to which speculation influences price formation with regard to commodities, agricultural products and greenhouse gas emission allowances, to the detriment of society;
2010/04/13
Committee: ECON
Amendment 231 #

2010/2008(INI)

Motion for a resolution
Paragraph 17
17. Notes that forCalls for the planned regulation of derivatives to include a ban on purely speculative trade ing commodities and agricultural products, but also greenhouse gas emission allowances, it must be ensured that that market operates transparently in order to stem speculationwhere it is harmful to society;
2010/04/13
Committee: ECON
Amendment 243 #

2010/2008(INI)

Motion for a resolution
Paragraph 18
18. Underlines the fact that regulation which is aneed for European regulation of derivatives and calls consistent as possible and internationally the Commission to coordinated its desirable, but, since there are differing viewpoints, considers separate European regulation for derivatives to be necessaryactions with Europe’s partners as far as possible, in order to secure regulation which is as consistent as possible and internationally coordinated;
2010/04/13
Committee: ECON
Amendment 63 #

2010/2006(INI)

Motion for a resolution
Annex – recommendation 1 – paragraph 1 a (new)
1a. Ensure that no private customer deposit or central bank liquidity support is used by universal banks for refinancing high-risk investments; for this purpose, internal firewalls between a bank's areas of business should be set up in the banks, which will also enable supervisors to monitor this principle. Such measures can contribute to ensuring that deposits and central bank liquidity support are made available primarily to the real economy in the form of loans for investments. At the same time, internal firewalls can serve to reduce the complexity and lack of transparency of systemic banks.
2010/05/05
Committee: ECON
Amendment 65 #

2010/2006(INI)

Motion for a resolution
Annex – recommendation 1 – paragraph 1 b (new)
1b. Ensure that no private customer deposit or central bank liquidity support is used by universal banks for refinancing high-risk investments; for this purpose, internal firewalls between a bank's areas of business should be set up in the banks.
2010/05/05
Committee: ECON
Amendment 137 #

2010/0281(COD)

Proposal for a regulation
Recital 11 a (new)
(11a) Measures proposed to a given Member State for correcting imbalances should take into account the objectives of a Union strategy for growth and jobs as well as the Union’s objective of sustainable and high social cohesion, while also contributing to making the Union the most competitive knowledge based economy in the world. The medium- term growth and primary balance targets of the "catching-up countries" should be taken into consideration.
2011/02/16
Committee: ECON
Amendment 179 #

2010/0281(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point a
(a) 'imbalances' means macroeconomic developmentspersistently diverging developments between aggregate demand and aggregate supply leading to a systematic surplus or deficit in the overall savings position of an economy, which areis adversely affecting, or haves the potential to adversely to affect, the proper functioning of the economy of a Member State or of economic and monetary union, or of the Union as a whole.
2011/02/16
Committee: ECON
Amendment 236 #

2010/0281(COD)

Proposal for a regulation
Article 3 – paragraph 3 a (new)
3a. The Commission shall adopt, by means of delegated acts in accordance with Article -12a, and subject to the conditions of Articles -12b and -12c, measures setting the list of relevant indicators to be included in the scoreboard and of the relevant thresholds. The list of indicators shall include, among others the following sets of indicators: (a) internal imbalances, including private and public debt and its evolution; internal income inequalities; unemployment rates; and asset price developments with particular attention to real estate, and financial markets; (b) external imbalances, including current account composition, balance and evolution; the evolution of relative export market shares in Union and third-country markets; and net foreign assets positions; (c) internal market developments, including a rolling average of five-year comparative real growth; an indicator of growth and employment dynamics including energy composition of the product and public and private research and development investment; and Union and third-country foreign direct investment flows.
2011/02/16
Committee: ECON
Amendment 319 #

2010/0281(COD)

Proposal for a regulation
Article 7 – paragraph 2
2. The Council, on a recommendation from the Commission, after consulting the European Parliament and the European social partners may adopt recommendations in accordance with Article 121(4) of the Treaty declaring the existence of an excessive imbalance and recommending the Member State concerned to take corrective action. Those recommendations shall set out the nature of the imbalances and specifyoutline the corrective action to be taken in detail and the deadline within which the Member State concerned must take such corrective action. The Council may, as provided for in Article 121(4) of the Treaty, make its recommendations public.
2011/02/16
Committee: ECON
Amendment 332 #

2010/0281(COD)

Proposal for a regulation
Article 8 – paragraph 1 a (new)
1a. The corrective action plan shall be coherent with the Stability and Growth Pact, the Stability and Convergence Programmes, the National Reform Programmes, the European Social Aquis and the medium and long-term objectives, namely convergence, improved living and working conditions, proper social protection, and a Union strategy for growth and jobs.
2011/02/16
Committee: ECON
Amendment 68 #

2010/0280(COD)

Proposal for a regulation
Citation 1
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 121(6), in combination with Article 148(3) and (4) thereof,
2011/02/15
Committee: ECON
Amendment 79 #

2010/0280(COD)

Proposal for a regulation
Recital 1 a (new)
(1 a) The TFEU provides that in defining and implementing its policies and activities, the Union takes into account requirements linked to the promotion of a high level of employment, the guarantee of adequate social protection and the fight against social exclusion.
2011/02/15
Committee: ECON
Amendment 83 #

2010/0280(COD)

Proposal for a regulation
Recital 3
(3) The Stability and Growth Pact is based on the objective of sound government finances as a means of strengthening the conditions for price stability and for strong sustainable growth underpinned by financial stability and conducive to employment creation. and should, therefore, be measured against its ability to meet objectives laid down in article 3 TFEU and enhance long term investments for smart, sustainable and inclusive growth.
2011/02/15
Committee: ECON
Amendment 91 #

2010/0280(COD)

Proposal for a regulation
Recital 4 a (new)
(4a) The preventive part of the Stability and Growth Pact that is meant to ensure that Member States follow efficient and sustainable fiscal policy would benefit from more stringent forms of coordination in order to ensure minimum quality and consistency with the economic and monetary union budgetary coordination framework.
2011/02/15
Committee: ECON
Amendment 95 #

2010/0280(COD)

Proposal for a regulation
Recital 5
(5) The content of the stability and convergence programmes as well as the criteria for their examination should further be adapted in the light of the experience gained with the implementation of the Stability and Growth Pact, in particular regarding its compatibility with national reform programmes and its contribution to growth and job creation.
2011/02/15
Committee: ECON
Amendment 100 #

2010/0280(COD)

Proposal for a regulation
Recital 5 b (new)
(5b) The improved economic governance framework should rely on several inter- linked policies for sustainable growth and jobs, which need to be coherent with each other, namely a Union strategy for growth and jobs, an effective framework for preventing and correcting excessive budgetary positions (the Stability and Growth Pact), a robust framework for preventing and correcting macro- economic imbalances, enhanced financial market regulation and supervision (including macro-prudential supervision by the European Systemic Risk Board) and a credible permanent crisis resolution mechanism.
2011/02/15
Committee: ECON
Amendment 107 #

2010/0280(COD)

Proposal for a regulation
Recital 5 c (new)
(5c) The Stability and Growth Pact and the complete economic governance framework should complement and be fully compatible with a Union strategy for growth and jobs which aims at boosting the Union's competitiveness and social stability.
2011/02/15
Committee: ECON
Amendment 112 #

2010/0280(COD)

Proposal for a regulation
Recital 5 a (new)
(5a) Experience gained during the first decade of functioning of the economic and monetary union shows a need for improved economic governance in the Union, which should be built on a stronger national ownership of commonly agreed rules and policies and on a more robust surveillance framework at the Union level of national economic policies.
2011/02/15
Committee: ECON
Amendment 113 #

2010/0280(COD)

Proposal for a regulation
Recital 5 d (new)
(5d) Strengthening economic governance should go hand in hand with reinforcing the democratic legitimacy of economic governance in the Union, which should be achieved through a closer and more timely involvement of the European Parliament and the national parliaments throughout the economic policy coordination procedures, with full use of the tools provided for by the TFEU, in particular the broad guidelines for the economic policies of the Member States and of the Union and the guidelines for the employment policies of the Member States.
2011/02/15
Committee: ECON
Amendment 116 #

2010/0280(COD)

Proposal for a regulation
Recital 5 e (new)
(5e) The European semester for economic policy coordination should play a vital role in implementing the requirement under Article 121(1) TFEU that Member States regard their economic policies as a matter of common concern and that they coordinate them in that respect. Transparency and independent oversight are an integral part of enhanced economic governance. The Council and the Commission should make public and set out the reasons for their positions and decisions at the appropriate stages of the economic policy coordination procedures.
2011/02/15
Committee: ECON
Amendment 117 #

2010/0280(COD)

Proposal for a regulation
Recital 5 f (new)
(5f) Article 3 of the Protocol (No 12) on the excessive deficit procedure annexed to the Treaties provides that Member States ensure that national procedures in the budgetary area enable them to meet their obligations in this area deriving from the Treaties. Member States whose currency is the euro should ensure that adequate budgetary procedures are in place for meeting those objectives.
2011/02/15
Committee: ECON
Amendment 133 #

2010/0280(COD)

Proposal for a regulation
Recital 6
(6) Adherence to the medium-term budgetary objective of budgetary positions should allow Member States to have a safety margin with respect todeal with normal cyclical fluctuations while keeping the government deficit below the 3 % of GDP reference value in order toand ensure rapid progress towards fiscal sustainability and to have room for budgetary manoeuvre, in particular taking into account the needs of public investment. Taking this into account, the medium- term budgetary objective should allow room for budgetary manoeuvre, in particular for public investment conducive to the achievement of the Union’s growth and jobs objectives.
2011/02/15
Committee: ECON
Amendment 135 #

2010/0280(COD)

Proposal for a regulation
Recital 6 a (new)
(6a) The Council, when examining and monitoring the stability programmes and the convergence programmes and in particular their medium-term budgetary objectives or the targeted adjustment paths towards those objectives, should take into account the relevant cyclical and structural characteristics of the economy of each Member State and its spill-over effects to other Member States’ economies.
2011/02/15
Committee: ECON
Amendment 136 #

2010/0280(COD)

Proposal for a regulation
Recital 7
(7) The obligation to achieve and maintain the medium-term budgetary objective needs to be put into operation, through the specification of principles of prudent fiscal policy-making.deleted
2011/02/15
Committee: ECON
Amendment 146 #

2010/0280(COD)

Proposal for a regulation
Recital 8 a (new)
(8a) In order to enhance national ownership of the Stability and Growth Pact, national budgetary frameworks should be fully aligned with the objectives of multilateral surveillance in the Union, and, in particular, with the European semester, in the context of which the national parliaments and all other relevant stakeholders, in particular the social partners, should be informed in a timely manner and should be duly involved.
2011/02/15
Committee: ECON
Amendment 148 #

2010/0280(COD)

Proposal for a regulation
Recital 9
(9) Prudent fiscal policy-making implies that the growth rate of government expenditure does normally not exceed a prudent medium-term growth rate of GDP, increases in excess of that norm are matched by discretionary increases in government revenues and discretionary revenue reductions are compensated by reductions in expenditure.deleted
2011/02/15
Committee: ECON
Amendment 158 #

2010/0280(COD)

Proposal for a regulation
Recital 10
(10) A temporary departure from prudent fiscal policy-makingthe adjustment path towards the medium term budgetary objective as defined in the national stability programme should be allowed in case of severe economic downturn of a general nature in order to facilitate economic recovery, in line with the second indent of Article 126(2)(a) if the excess over the reference value results from a negative annual GDP volume growth rate or from an accumulated loss of output during a protracted period of very low annual GDP volume growth relative to its potential in order to facilitate economic rapid and strong recovery and to avoid persistent or growing economic divergence among member states.
2011/02/15
Committee: ECON
Amendment 174 #

2010/0280(COD)

Proposal for a regulation
Recital 11
(11) In the event of a significant deviation from prudent fiscal-policythe adjustment path towards the medium term budgetary objective a warning should be addressed to the Member State concerned and in case the significant deviation persists or is particularly serious, a recommendation should be addressed to the Member State concerned to take the necessary corrective measures. The European Parliament may invite the Member State concerned to explain its policies in this respect before its competent committee.
2011/02/15
Committee: ECON
Amendment 181 #

2010/0280(COD)

Proposal for a regulation
Recital 11 a (new)
(11a) The Council and the Commission should make their positions and decisions public at the appropriate stages of the economic policy coordination procedures, in order to ensure effective peer pressure and the European Parliament may invite the Member State concerned to explain its decisions and policies before its competent committee.
2011/02/15
Committee: ECON
Amendment 186 #

2010/0280(COD)

Proposal for a regulation
Recital 12
(12) In order to ensure compliance with the fiscal surveillance framework of the Union for participating Member States, a specific enforcement mechanism should be established on the basis of Article 136 of the Treaty for cases where a persistent and significant deviation from prudent fiscal policy makingthe adjustment path towards the medium term budgetary objective, due to lack of action or an unwillingness to cooperate prevails.
2011/02/15
Committee: ECON
Amendment 196 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point -1 (new)
Regulation (EC) No 1466/97
Article 1
[Current text of Article 1 of Regulation (EC) No 1466/97:-1. Article 1 is replaced by the following: "Article 1 Article 1 This Regulation sets out the rules covering the content, the submission, the examination and the monitoring of stability programmes and convergence programmes as part of multilateral surveillance by the Council so as to prevent, at an early stage, the occurrence of excessive general government deficits and debt and to promote the surveillance and coordination of economic policies."]policies while supporting the achievement of the Union's objectives for growth and employment.
2011/02/15
Committee: ECON
Amendment 204 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 1 (new)
Regulation (EC) No 1466/97
Article 2 –a (new) ( in Section I)
1a. The following article is inserted: "Article 2-a A Member State with a derogation may apply the rules applicable to participating Member States laid down in this Regulation and, if so, shall notify the Commission accordingly. Such a notification shall be published in the Official Journal of the European Union. The Member State concerned shall be considered to be a participating Member State for the purposes of this Directive from the day after such publication."
2011/02/15
Committee: ECON
Amendment 206 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 1 b (new)
Regulation (EC) No 1466/97
Section 1 –A – title (new) (after Section I)
1b. The following section is inserted: "Section 1-A European semester for economic policy coordination"
2011/02/15
Committee: ECON
Amendment 207 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 1 b (new)
Regulation (EC) No 1466/97
Article 2 –aa (new) (in Section 1–A)
Article 2-aa The multilateral surveillance by the Council shall be conducted as part of a European semester for economic policy coordination (Semester) in line with the provisions of this Regulation and the requirement that Member States regard their economic policies as a matter of common concern and that they coordinate them within the Council in accordance with the objectives set out in Articles 9, 120 and 148 TFEU. The Semester shall, inter alia, consist of the multilateral surveillance of the stability and convergence programmes under this Regulation, the prevention and correction of macroeconomic imbalances under Regulation (EU) No .../2011, the excessive deficit procedure under Regulation (EC) No 1467/97 and the formulation of the broad guidelines of the economic policies of the Member States and of the Union (Broad Economic Policy Guidelines) in accordance with Article 121(2) TFEU and the guidelines that Member States shall take into account in their employment policies (Employment Guidelines) in accordance with Article 148(2) TFEU and the implementation of those guidelines and the annual policy orientations deriving from the Annual economic and social summit within the framework of the Union's strategy for growth and employment. The European Parliament and the national parliaments shall be duly involved in the Semester in order to increase transparency, ownership, accountability of any decisions taken. In order to ensure an adequate involvement of the European Parliament, an inter- institutional agreement between the European Parliament, the European Council, the Council and the Commission shall be concluded by 31 December 2011. That agreement shall be reviewed every three years and amended if appropriate.
2011/02/15
Committee: ECON
Amendment 210 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 1 b (new)
Regulation (EC) No 1466/97
Article 2 –ab (new) (in Section 1–A)
Article 2-ab The Economic and Financial Committee set up under Article 134 TFEU, and the Employment Committee, established pursuant to Article 150 TFEU, shall be consulted within the framework of the Semester wherever appropriate. The relevant stakeholders, in particular the social partners, shall be consulted, within the framework of the Semester, on the main policy formulations to be discussed by the Union institutions.
2011/02/15
Committee: ECON
Amendment 211 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 1 b (new)
1b. The following article is inserted: Article 2-ac In order to enhance the dialogue between the Union institutions, in particular the European Parliament, the Council and the Commission, on the one hand, and the national parliaments, national governments and other relevant bodies of the Member States on the other, and to ensure greater transparency and accountability, the competent committee of the European Parliament may organise public debates on macro-economic and budgetary surveillance undertaken by the Council and the Commission.
2011/02/15
Committee: ECON
Amendment 215 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 1 c (new) – point a (new)
Regulation (EC) No 1466/97
Article 2a – paragraph 1
[Current text of the first paragraph of Article 2a of Regulation (EC) No 1466/971c. Article 2a is amended as follows: (a) the first paragraph is replaced by the following: "Each Member State shall have a differentiated medium-term objective for its budgetary position. These country- Member-State-specific medium-term budgetary objectives may diverge from the requirement of a close to balance or in surplus position. They shall, while provideing a safety margin with respect to the 3% of GDP government deficit ratio;, they shall ensure rapid progress towards sustainability and, takat shall be cyclically adjusted and net of public investment. The definition of what shall constitute public investment conducive to achieving the Union's growth and employment objectives within the scope of this regulation shall be laid down by the Commission through a delegated act, respecting the principles laid down in Council Directive (...) on requirements for budgetary frameworks of the Member States. In the framework of the European Semester, Member States shall communicate their country-specific public investment targets. Expressing the medium-term budgetary objective ing this into account, they shallway shall ensure the sustainability of public finances or a rapid progress towards such sustainability while allowing room for budgetary manoeuvre, considering in particular the needs for to ensure the proper implementation of the Union's growth and employment objectives and adequate levels of public investment."]
2011/02/15
Committee: ECON
Amendment 221 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 1 c (new) – point b (new)
Regulation (EC) No 1466/97
Article 2a – paragraph 3
[Current text of Article 2a (3)of Regulation (EC) No 1466/97: A Member State’s(b) the third paragraph is replaced by the following: "The medium-term budgetary objective canshall be revised when a major structural reform is implemented and in any case every four yearsevery three years and, where appropriate, more frequently in the event of the implementation of a major structural reform [...]."
2011/02/15
Committee: ECON
Amendment 224 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 1 c (new) - point c (new)
Regulation (EC) No 1466/97
Article 2a – paragraph 3 a (new)
(c) the following paragraph is added: "The medium-term budgetary objective shall be an integral part of the national medium-term budgetary frameworks in accordance with this Regulation and Council Directive 2011/.../EU on requirements for budgetary frameworks of the Member States."
2011/02/15
Committee: ECON
Amendment 226 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 1 d (new)
Regulation (EC) No 1466/97
Section 1A a (new)
1d. The following section is inserted: "Section 1Aa NATIONAL OWNERSHIP Article 2aa Participating Member States shall establish a medium- term budgetary framework, with a fiscal planning horizon of at least three years, with a view to helping them produce a meaningful medium-term objective. For participating Member States, independent statistics and national fiscal policy rules or institutes shall ensure an informed national debate on current structural budget positions and on the medium-term objective as set out in this Regulation. Each participating Member State shall endeavour to obtain parliamentary approval and to ensure that its stability program is in conformity with the financial implications of its national reform program in line with the investment principles set out in the framework of the Union's strategy for growth and employment. Where there has been no such parliamentary approval, this shall be specified in the stability programme. Member States shall take into account guidance and recommendations from the Council and the Commission, in particular when preparing their budgets, and appropriately involve national parliaments in the economic policy coordination procedures. When submitting the draft budget to the national parliament, Member States shall also submit any opinion of the Council or the Commission on the stability programme and, in the event of significant deviation from the adjustment path towards the medium term budgetary objective, the recommendation of the Commission, accompanied by an explanation of how those opinions and recommendations have been taken into account."
2011/02/15
Committee: ECON
Amendment 234 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 1 e (new)
Regulation (EC) No 1466/97
Section 1A b (new)
1e. The following section is inserted: "Section 1Ab HEARING OF THE PRESIDENT OF THE EURO GROUP Article 2ab The President of the Euro Group may, at the request of the European Parliament or on his/her own initiative, be heard by the competent committees of the European Parliament, in particular, in regard to the work programme of the Euro Group and the economic situation in the euro area."
2011/02/15
Committee: ECON
Amendment 247 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 2 – subpoint b – subpoint i b (new)
Regulation (EC) No 1466/97
Article 3 – paragraph 2 – point a a (new)
(ib) The following point is inserted: "(ab) information on the consistency of the medium-term budgetary objective with the national reform programme in the framework of the Union’s growth and employment objectives, the broad guidelines for the economic policies of the Member States and of the Union and the guidelines for the employment policies of the Member States;"
2011/02/15
Committee: ECON
Amendment 248 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 2 – subpoint b – subpoint i c (new)
Regulation (EC) No 1466/97
Article 3 – paragraph 2 – point b
[Current text of Article 3(2)(b) of Regulation (EC) No 1466/97(ic) In Article 3(2) point (b) is replaced by the following: "(b) the main assumptions about expected economic developments and important economic variables which are relevant to the realizsation of the stability programme such as government investment expenditure, real gross domestic product (GDP) growth, employment and inflation in line with the public investment targets set out in the framework of the European Semester, real gross domestic product (GDP) growth, employment and inflation. Those assumptions shall be consistent with the European System of Accounts;"]
2011/02/15
Committee: ECON
Amendment 252 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 2 – subpoint b – subpoint (ii)
Regulation (EC) No 1466/97
Article 3 – paragraph 2 – point c
(c) a quantitative assessment of the budgetary and other economic policy measures being taken or proposed to achieve the objectives of the programme, comprising a cost-benefit analysis of major structural reforms which have direct long- term cost-saving effects, including by raising potential growthare conductive to the achievement of the Union's growth and employment objectives;
2011/02/15
Committee: ECON
Amendment 255 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 2 – subpoint b a (new)
Regulation (EC) No 1466/97
Article 3 – paragraph 2 a (new)
(ba) In Article 3, the following paragraph is inserted: "2a. The stability programme shall be based on realistic macroeconomic and budgetary forecasts guaranteeing the most up-to-date information. Budgetary planning shall be based on the most likely macro-fiscal scenario. Significant divergences between the chosen macro- fiscal scenario and the Commission forecasts shall be assessed ex post and explained by the Commission or Member State concerned by the forecasting error as appropriate when those are identified."
2011/02/15
Committee: ECON
Amendment 261 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 2 – subpoint c
Regulation (EC) No 1466/97
Article 3 – paragraph 3
3. The information about the paths for the general government balance and debt ratio, the growth of government expenditure and its contribution to the implementation of the Union’s growth and employment objectives, the planned growth path of government revenue at unchanged policy, the planned discretionary revenue measures, government investment expenditure in line with the public investment targets set out in the framework of the European Semester, and the main economic assumptions referred to in paragraph 2(a), (aa) and (b) shall be on an annual basis and shall cover, the preceding year, the current year and at least the following three years.
2011/02/15
Committee: ECON
Amendment 272 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 1
Based on assessments by the Commission and the Economic and Financial Committee, the Council shall, within the framework of multilateral surveillance under Article 121 of the TreatyTFEU and of the examination of the implementation of the employment policies in accordance with Article 148 TFEU, examine the medium- term budgetary objectives presented by the Member States concerned in their stability programmes, assess whether the economic assumptions on which the programme is based are plausible, whether the adjustment path towards the medium-term budgetary objective is appropriate, whether the Member State reached the public investment target set out in the framework of the European Semester and whether the measures being taken or proposed to respect that adjustment path are sufficient to achieve the medium-term budgetary objective over the cycle.
2011/02/15
Committee: ECON
Amendment 284 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 2
The Council, when assessing the adjustment path toward the medium-term budgetary objective, shall examine if the Member State concerned pursues an appropriate annual improvement of its cyclically-adjusted budget balance, net of one-off and other temporary measures, required to meet its medium-term budgetary objective, with 0.5% of GDP as a benchmark. For Member States with a high level of debt or excessive macroeconomic imbalances or both, the Council shall examine whether the annual improvement of the cyclically- adjusted budget balance, net of one-off and other temporary measures is higher than 0.5% of GDP. The Council shall take into account whether a higher adjustment effort is made in economic good times, whereas the effort may be more limited in economic bad times.
2011/02/15
Committee: ECON
Amendment 288 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 3
With a view to ensuring that the medium- term budgetary objective is effectively achieved and maintained, the Council shall verify that the growth path of government expenditure, taken in conjunction with the effect of measures being taken or planned on the revenue side, is consistent with prudent fiscal policy-making.deleted
2011/02/15
Committee: ECON
Amendment 296 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 4
Fiscal policy-making shall be considered prudent and thereby conducive to the achievement of the medium-term budgetary objective and its maintenance over time if the following conditions are satisfied: (a) for Member States that have achieved the medium-term budgetary objective, annual expenditure growth does not exceed a prudent medium-term rate of GDP growth, unless the excess is matched by discretionary revenue measures; (b) for Member States that have not yet reached their medium-term budgetary objective, annual expenditure growth does not exceed a rate below a prudent medium-term rate of GDP growth, unless the excess is matched by discretionary revenue measures. The size of the shortfall of the growth rate of government expenditure compared to a prudent medium-term rate of GDP growth is set in such a way as to ensure an appropriate adjustment towards the medium-term budgetary objective; (c) discretionary reductions of government revenue items are matched either by expenditure reductions or by discretionary increases in other government revenue items or both.deleted
2011/02/15
Committee: ECON
Amendment 320 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 5
The prudent medium-term of growth should be assessed on the basis of projections over a ten-year horizon updated at regular intervals.deleted
2011/02/15
Committee: ECON
Amendment 328 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 6
Fiscal policy making shall be considered to be contributing to the achievement of the medium term objective if, amongst others, policy makers refrain from general tax cuts and implement measures to stabilize and, where appropriate, to increase the share of tax revenues in GDP. When defining the adjustment path to the medium-term budgetary objective for Member States that have not yet reached this objective and in allowing a temporary deviation from this objective for Member States that have already reached it, under the condition that an appropriate safety margin with respect to the deficit reference value is preserved and that the budgetary position is expected to return to the medium-term budgetary objective within the programme period, the Council shall take into account the implementation of major structural reforms which have direct long-term cost-saving effects, including by raising potential growth, and therefore a verifiable impact on the long-term sustainability of public financesare conducive to the achievement of the Union’s growth and employment objectives. Special attention shall be paid to the contribution of those reforms to employment and to the reduction of poverty.
2011/02/15
Committee: ECON
Amendment 337 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 7
Special attention shall be paid to pension reforms introducing a multi-pillar system that includes a mandatory, fully funded pillar. Member States implementing such reforms shall be allowed to deviate from the adjustment path to their medium-term budgetary objective or from the objective itself, with the deviation reflecting the net cost of the reform to the publicly managed pillar, under the condition that the deviation remains temporary and that an appropriate safety margin with respect to the deficit reference value is preserved.deleted
2011/02/15
Committee: ECON
Amendment 348 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 8
The Council shall furthermore examine whether the contents of the stability programme facilitate the achievement of sustained convergence within the euro area, closer coordination of economic policies and whether the economic policies of the Member State concerned are consistent with Article 9 TFEU, in particular with regard to growth, the promotion of a high level of employment, the guarantee of adequate social protection and the fight against social exclusion, the broad guidelines of economic policies of the Member States and of the Union.
2011/02/15
Committee: ECON
Amendment 354 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 9
In periods of severe economic downturn of a general nature Member States may be allowed to temporarily depart from the adjustment path implied by prudent fiscal- policy making referred to in the fourth subparagraphthe medium term budgetary objective.
2011/02/15
Committee: ECON
Amendment 363 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 4
2. The Council shall carry out the examination ofexamine the stability programme within at most three months of the submission of the programme. The Council, on a recommendation from the Commission and after consulting the Economic and Financial Committee, shall, if necessary, deliver an opinion on the programme. Where the Council, in accordance with Article 121 of the TreatyFEU, considers that the objectives and the content of the programme should be strengthened with particular reference to prudent fiscal policy-making, the Council shall, in its opinion, invite the Member State concerned to adjust its programme.
2011/02/15
Committee: ECON
Amendment 367 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 1
1. As part of multilateral surveillance in accordance with Article 121(3) of the Treaty, the Council shall monitor the implementation of stability programmes, on the basis of information provided by participating Member States and of assessments by the Commission and, the Economic and Financial Committee, the Employment Committee and the Social Protection Committee, in particular with a view to identifying actual or expected significant divergences of the budgetary position from the medium-term budgetary objective, or from the appropriate adjustment path towards it ensuing from deviations from prudent fiscal-policy making.
2011/02/15
Committee: ECON
Amendment 381 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 2 – first subparagraph
In the event of a significant deviation from prudent fiscal-policy making referred in the fourth subparagraph of Article 5(1) of this regulation,the adjustment path towards the medium term budgetary objective and in order to prevent the occurrence of an excessive deficit, the Commission, in accordance with Article 121(4) of the Treaty may address a warning to the Member State concerned.
2011/02/15
Committee: ECON
Amendment 390 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 2 – subparagraph 2
A deviation from prudent fiscal policy makingthe adjustment path towards the medium term budgetary objective shall be considered significant if the following conditions occur: an excess over the expenditure growth consistent with prudent fiscal policy-makingnet of public investment consistent with the medium term budgetary objective, not offset by discretionary revenue-increasing measures; or discretionary revenue- decreasing measures not offset by reductions in expenditure; and the deviation has a total impact on the government balance of at least 0.5 % of GDP in one single year or of at least 0.25 % of GDP on average per year in two consecutive years.
2011/02/15
Committee: ECON
Amendment 394 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 2 – subparagraph 3
The deviation shall not be considered if the Member State concerned has significantly overachieved the medium- term budgetary objective, taking into account the presence of excessive macroeconomic imbalances, and the budgetary plans laid out in the stability programme do not jeopardise this objective over the programme period.deleted
2011/02/15
Committee: ECON
Amendment 399 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 2 – subparagraph 4
The deviation may be equshally not be considered in case of severe economic downturn of a general nature.
2011/02/15
Committee: ECON
Amendment 405 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 3
3. In the event that the significant deviation from prudent fiscal-policy making persists or is particularly serious, the Council, on a recommendation fromthe adjustment path towards the medium term budgetary objective persists or is particularly serious, the Commission, shall address a recommendation to the Member State concerned to take the necessary adjustment measures. The Council, on a proposal from the Commission, shall make the recommendation public. shall make the recommendation public and the European Parliament may invite the Member State concerned to explain its policies before its competent committee.
2011/02/15
Committee: ECON
Amendment 422 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 6 – subpoint b – subpoint i a (new)
Regulation (EC) No 1466/97
Article 7 – paragraph 2 – point a a (new)
(ia) In Article 7(2) the following point is inserted: ‘(aa) information on the consistency of the medium-term budgetary objective with the national reform programme in the framework of the Union’s growth and employment objectives, the broad guidelines for the economic policies of the Member States and of the Union and the guidelines for the employment policies of the Member States;’
2011/02/15
Committee: ECON
Amendment 424 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 6 – subpoint b – subpoint ii
(c) a quantitative assessment of the budgetary and other economic policy measures being taken or proposed to achieve the objectives of the programme, comprising a cost-benefit analysis of major structural reforms, which have direct long- term cost-saving effects, including by raising potential growthare conductive to the achievement of the Union's growth and employment objectives;
2011/02/15
Committee: ECON
Amendment 426 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 6 – subpoint b a (new)
Regulation (EC) No 1466/97
Article 7 – paragraph 2 a (new)
(ba) In Article 7 the following paragraph shall be added ‘(2a) The convergence programme shall be based on realistic macroeconomic and budgetary forecasts guaranteeing the most up-to-date information. Budgetary planning shall be based on the most likely macro-fiscal scenario. Significant divergences between the chosen macro- fiscal scenario and the Commission forecasts shall be assessed ex post and explained by the Commission or Member State concerned by the forecasting error as appropriate when those are identified.’
2011/02/15
Committee: ECON
Amendment 428 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 6 – subpoint c
Regulation (EC) No 1466/97
Article 7 – paragraph 3
3. The information about the paths for the general government balance and debt ratio, the growth of government expenditure and its contribution to the implementation of the Union’s growth and employment objectives, the planned growth path of government revenue at unchanged policy, the planned discretionary revenue measures, government investment expenditure in line with the public investment targets set out in the framework of the European Semester, and the main economic assumptions referred to in paragraph 2(a), (aa) and (b) shall be on an annual basis and shall cover, the preceding year, the current year and at least the following three years.
2011/02/15
Committee: ECON
Amendment 440 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – first subparagraph
Based on assessments by the Commission and, the Economic and Financial Committee, the Council shall, within the framework of multilateral surveillance under Article 121 of the TreatyTFEU and of the examination of the implementation of the employment policies in accordance with Article 148 TFEU, examine the medium-term budgetary objectives presented by the Member States concerned in their convergence programmes, assess whether the economic assumptions on which the programme is based are plausible, whether the adjustment path towards the medium- term budgetary objective is appropriate, whether the Member State reached the public investment target set out in the framework of the European Semester and whether the measures being taken and/or proposed to respect that adjustment path are sufficient to achieve the medium-term budgetary objective over the cycle and to achieve sustained convergence.
2011/02/15
Committee: ECON
Amendment 451 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 2
The Council, when assessing the adjustment path toward the medium-term budgetary objective, shall take into account whether a higher adjustment effort is made in economic good times, whereas the effort may be more limited in economic bad times. For Member States with a high level of debt or excessive macroeconomic imbalances or both, the Council shall examine whether the annual improvement of the cyclically-adjusted budget balance, net of one-off and other temporary measures is higher than 0.5% of GDP. For ERM2 Member States, the Council shall examine if the Member State concerned pursues an appropriate annual improvement of its cyclically adjusted balance, net of one-off and other temporary measures, required to meet its medium- term budgetary objective, with 0.5% of GDP as a benchmark.
2011/02/15
Committee: ECON
Amendment 454 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 3
With a view to ensuring that the medium- term budgetary objective is effectively achieved and maintained, the Council shall verify that the growth path of government expenditure, taken in conjunction with the effect of the measures being taken or proposed on the revenue side, is consistent with prudent fiscal-policy making.deleted
2011/02/15
Committee: ECON
Amendment 461 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 4
Fiscal-policy making shall be considered prudent and thereby conducive to the achievement of the medium-term budgetary objective and its maintenance over time if the following conditions are satisfied: (a) for Member States that have achieved the medium-term budgetary objective, annual expenditure growth does not exceed a prudent medium-term rate of GDP growth, unless the excess is matched by discretionary revenue measures; (b) for Member States that have not yet reached their medium-term budgetary objective, annual expenditure growth does not exceed a rate below a prudent medium-term rate of GDP growth, unless the excess is matched by discretionary revenue measures. The size of the shortfall of the growth rate of government expenditure compared to a prudent medium-term rate of GDP growth is set in such a way as to ensure an appropriate adjustment towards the medium-term budgetary objective; (c) discretionary reductions of government revenue items are matched either by expenditure cuts or by discretionary increases in other government revenue items or both.deleted
2011/02/15
Committee: ECON
Amendment 482 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 5
The prudent medium-term of growth should be assessed on the basis of projections over a ten-year horizon updated at regular intervals.deleted
2011/02/15
Committee: ECON
Amendment 488 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 6
Fiscal policy making shall be considered to be contributing to the achievement of the medium term objective if, amongst others, policy makers refrain from general tax cuts and implement measures to stabilize and, where appropriate, to increase the share of tax revenues in GDP. When defining the adjustment path to the medium-term budgetary objective for Member States that have not yet reached this objective and in allowing a temporary deviation from this objective for Member States that have already reached it, under the condition that an appropriate safety margin with respect to the deficit reference value is preserved and that the budgetary position is expected to return to the medium-term budgetary objective within the programme period, the Council shall take into account the implementation of major structural reforms which have direct long-term cost-saving effects, including by raising potential growth, and therefore a verifiable impact on the long-term sustainability of public finances. are conducive to the achievement of the Union’s growth and employment objectives. Special attention shall be paid to the contribution of those reforms to employment and to the reduction of poverty.
2011/02/15
Committee: ECON
Amendment 494 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 7
Special attention shall be paid to pension reforms introducing a multi-pillar system that includes a mandatory, fully funded pillar. Member States implementing such reforms shall be allowed to deviate from the adjustment path to their medium-term budgetary objective or from the objective itself, with the deviation reflecting the net cost of the reform to the publicly managed pillar, under the condition that the deviation remains temporary and that an appropriate safety margin with respect to the deficit reference value is preserved.deleted
2011/02/15
Committee: ECON
Amendment 504 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 8
The Council shall furthermore examine whether the contents of the convergence programme facilitate the closer coordination of economic policies and whether the economic policies of the Member State concerned are consistent with Article 9 TFEU, in particular with regard to growth, the promotion of a high level of employment, the guarantee of adequate social protection and the fight against social exclusion, the broad guidelines of economic policies of the Member States and of the Union. In addition, for ERM2 Member States, the Council shall examine whether the content of the convergence programme ensure a smooth participation in the exchange rate mechanism.
2011/02/15
Committee: ECON
Amendment 509 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 9
In periods of severe economic downturn of a general nature Member States may be allowed to temporarily depart from the adjustment path implied by prudent fiscal- policy making referred to in the fourth subparagraphthe medium term budgetary objective.
2011/02/15
Committee: ECON
Amendment 515 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 2
2. The Council shall carry out the examination ofexamine the convergence programme within at most three months of the submission of the programme. The Council, on a recommendation from the Commission and after consulting the Economic and Financial Committee, shall, if necessary, deliver an opinion on the programme. Where the Council, in accordance with Article 121 of the Treaty, FEU, considers that the objectives and the content of the programme should be strengthened with particular reference to prudent fiscal-policy making, the Council shall, in its opinion, invite the Member State concerned to adjust its programme.
2011/02/15
Committee: ECON
Amendment 518 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 9
Regulation (EC) No 1466/97
Article 10 – paragraph 1 – first subparagraph
As part of multilateral surveillance in accordance with Article 121(3) of the Treaty, the Council shall monitor the implementation of convergence programmes, on the basis of information provided by Member States with a derogation and of assessments by the Commission and, the Economic and Financial Committee, the Employment Committee and the Social Protection Committee, in particular with a view to identifying actual or expected significant divergences of the budgetary position from the medium-term budgetary objective, or from the appropriate adjustment path towards it, ensuing from deviations from prudent fiscal-policy making.
2011/02/15
Committee: ECON
Amendment 527 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 9
Regulation (EC) No 1466/97
Article 10 – paragraph 2 – first subparagraph
In the event of a significant deviation from prudent fiscal-policy making referred to in the fourth subparagraph of Article 9(1) of this Regulation,the adjustment path towards the medium term budgetary objective and in order to prevent the occurrence of an excessive deficit, the Commission, in accordance with Article 121(4) of the Treaty may address a warning to the Member State concerned.
2011/02/15
Committee: ECON
Amendment 535 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 9
Regulation (EC) No 1466/97
Article 10 – paragraph 2 – subparagraph 2
A deviation from prudent fiscal policy makingthe adjustment path towards the medium term budgetary objective shall be considered significant if the following conditions occur: an excess over the expenditure growth consistent with prudent fiscal policy-makingnet of public investment consistent with the medium term budgetary objective, not offset by discretionary revenue-increasing measures; or discretionary revenue- decreasing measures not offset by reductions in expenditure; and the deviation has a total impact on the government balance of at least 0.5% of GDP in one single year or of at least 0.25% of GDP on average per year in two consecutive years.
2011/02/15
Committee: ECON
Amendment 538 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 9
Regulation (EC) No 1466/97
Article 10 – paragraph 2 – subparagraph 3
The deviation shall not be considered if the Member State concerned has significantly overachieved the medium- term budgetary objective, taking into account the presence of excessive macroeconomic imbalances, and the budgetary plans laid out in the stability programme do not jeopardise this objective over the programme period.deleted
2011/02/15
Committee: ECON
Amendment 541 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 9
Regulation (EC) No 1466/97
Article 10 – paragraph 2 – subparagraph 4
The deviation may be equshally not be considered in case of severe economic downturn of a general nature.
2011/02/15
Committee: ECON
Amendment 546 #

2010/0280(COD)

Proposal for a regulation – amending act
Article 1 – point 9
Regulation (EC) No 1466/97
Article 10 – paragraph 3
3. In the event that the significant deviation from prudent fiscal policy making persists or is particularly serious, the Council, on a recommendation fromthe adjustment path towards the medium term budgetary objective persists or is particularly serious, the Commission, shall address a recommendation to the Member State concerned to take the necessary adjustment measures. The Council, on a proposal from the Commission, shall make the recommendation public and the European Parliament may invite the Member State concerned to explain its policies before its competent committee.
2011/02/15
Committee: ECON
Amendment 159 #

2010/0279(COD)

Proposal for a regulation
Article 1 – paragraph 2 a (new)
2a. In respect of Article 153 of the Treaty, sanctions foreseen in this regulation will not relate to the issue of pay and related labour market institutions, in particular minimum wage systems and collective bargaining structures.
2011/02/15
Committee: ECON
Amendment 174 #

2010/0279(COD)

Proposal for a regulation
Article 3 – paragraph 1 – subparagraph 1 – introductory part
A yearly fine shall be imposed by the Council, acting on a proposal by the Commission, if and after consulting the ECOFIN Council and the EPSCO council:
2011/02/15
Committee: ECON
Amendment 192 #

2010/0279(COD)

Proposal for a regulation
Article 3 – paragraph 1 – subparagraph 2
The decision shall be deemed adopted by the Council unless it decides,ing by qualified majority, to reject the proposal within ten days the Commission adopting it. The Council may amend the proposal in accordance with Article 293(1) of the Treaty.
2011/02/15
Committee: ECON
Amendment 230 #

2010/0250(COD)

Proposal for a regulation
Article 1 – paragraph 1 a (new)
1 a. Articles 3 through 5 shall not apply to derivative contracts executed on a regulated market or on a multilateral trading venue provided that such contracts are cleared by a CCP. This is without prejudice to the clearing obligation applying to the same contracts when executed OTC.
2011/03/30
Committee: ECON
Amendment 295 #

2010/0250(COD)

Proposal for a regulation
Article 3 – paragraph 1 – subparagraph 1 a (new)
That clearing obligation shall apply to all OTC derivative contracts that are classified as eligible for the clearing obligation following publication of the ESMA decision pursuant to Article 4(2)a.
2011/03/30
Committee: ECON
Amendment 318 #

2010/0250(COD)

Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1 (new)
When complying with the clearing obligation under paragraph 1, clearing members shall distinguish in separate accounts with the CCP the positions of each client. Clients shall be known to the CCP.
2011/03/30
Committee: ECON
Amendment 415 #

2010/0250(COD)

Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1
Financial cCounterparties shall report to a trade repository registered in accordance with Article 51 the details of any OTC derivative contract they have entered into and any modification or early termination. The details shall be reported no later than thfive working days following the execution, clearing, or modification or early termination of the contract.
2011/03/30
Committee: ECON
Amendment 521 #

2010/0250(COD)

Proposal for a regulation
Article 8 – paragraph 1 – subparagraph 1 – point a
(a) where possible,adequate electronic means ensuring the timely confirmation of the terms of the OTC derivative contract;
2011/03/30
Committee: ECON
Amendment 523 #

2010/0250(COD)

Proposal for a regulation
Article 8 – paragraph 1 – subparagraph 1 – point b
(b) standardised processes which are robust, resilient and auditable processes in order to reconcile portfolios, to manage the associated risk and to identify disputes between parties early and resolve them, and to monitor the value of outstanding contracts.
2011/03/30
Committee: ECON
Amendment 553 #

2010/0250(COD)

Proposal for a regulation
Article 10 – paragraph 3
3. The authorisation shallto the CCP shall be granted only for activities linked to clearing and specify the services or activities which the CCP is authorised to provide or perform including the classes of financial instruments covered by the authorisation.
2011/03/30
Committee: ECON
Amendment 628 #

2010/0250(COD)

Proposal for a regulation
Article 19 – paragraph 1
1. Competent authorities shall cooperate closely with each other and with ESMA. ESMA shall be provided with adequate resources by the European Institutions in order to effectively perform the tasks it is allocated in this Regulation.
2011/03/30
Committee: ECON
Amendment 630 #

2010/0250(COD)

Proposal for a regulation
Article 20 – paragraph 1 – subparagraph 2
No confidential information they may receive in the course of their duties may be divulged to any person or authority whatsoever, except in summary or aggregate form such that an individual CCP, trade repository or any other person cannot be identified, without prejudice to cases covered by criminal law or taxation law or the other provisions of this Regulation.
2011/03/30
Committee: ECON
Amendment 688 #

2010/0250(COD)

Proposal for a regulation
Article 26 – paragraph 1
1. A CCP shall establish a risk committee, which shall be composed of representatives of its clearing members and independent members of the boardmarket experts including at least one representative of the designated competent authority. The risk committee may invite employees of the CCP to attend risk committee meetings in a non-voting capacity. The advice of the risk committee shall be independent from any direct influence by the management of the CCP.
2011/03/30
Committee: ECON
Amendment 741 #

2010/0250(COD)

Proposal for a regulation
Article 33 – paragraph 1 – point i a (new)
(i a) activities linked to risk management shall not be outsourced.
2011/03/30
Committee: ECON
Amendment 832 #

2010/0250(COD)

Proposal for a regulation
Article 40 – paragraph 2
2. A CCP shall establish the minimum size of contributions to the default fund and the criteria to calculate the contributions of the single clearing members. The contributions shall be proportional to the exposures of each clearing member, in order to ensure that the contributions to the default fund at least enable the CCP to withstand the default of the two clearing member to which it has the largest exposures or of the second and third largest clearing members, if the sum of their exposures is larger.
2011/03/30
Committee: ECON
Amendment 840 #

2010/0250(COD)

Proposal for a regulation
Article 41 – paragraph 2
2. A CCP shall develop scenarios of extreme but plausible market conditions, which include the most volatile periods that have been experienced by the markets for which the CCP provides its services. The default fund referred to in Article 40 and the other financial resources referred to in paragraph 1 shall at all times enable the CCP to withstand the default of the two clearing members to which it has the largest exposures and shall enable the CCP to withstand sudden sales of financial resources and rapid reductions in market liquidity.
2011/03/30
Committee: ECON
Amendment 940 #

2010/0250(COD)

Proposal for a regulation
Article 64 – paragraph 6
6. A trade repository shall publicly disclose the prices and fees associated with services provided. It shall disclose the prices and fees of single services and functions provided separately, including discounts and rebates and the conditions to benefit from those reductions. It shall allow reporting entities to access specific services separately. The prices and fees charged by a trade repository shall be cost-relatednot be higher than the cost incurred by the trade repository.
2011/03/30
Committee: ECON
Amendment 168 #

2009/0144(COD)

Proposal for a regulation
Recital 33
(33) Where appropriate, the Authority should consult interested parties on technical standards, guidelines and recommendations and provide them with a reasonable opportunity to comment on proposed measures. For reasons of efficiency, a Securities and Markets Stakeholder Group should be established for that purpose, representing in balanced proportions CommunityEU financial market participants (including as appropriate institutional investors and other financial institutions which themselves use financial services), their employees, and consumers and other retail users of financial services, including SMEs. The Securities and Markets Stakeholder Group should be composed at least of 15 representatives from consumers and users, of 5 independent top-ranking academics and of 10 representatives from the sector and its employees. The Securities and Markets Stakeholder Group should actively work as an interface with other user groups in the financial services area established by the Commission or CommunityUnion legislation.
2010/03/24
Committee: ECON
Amendment 179 #

2009/0144(COD)

Proposal for a regulation
Recital 41
(41) In order to guarantee its full autonomy and independence, the Authority should be granted an autonomous budget with revenues mainly from obligatory contributions from national supervisory authorities and, from the General Budget of the European Union. The Community and from any direct fees paid by financial institutions. The EU budgetary procedure should be applicable as far as the CommunityEU contribution is concerned. The auditing of accounts should be undertaken by the Court of Auditors.
2010/03/24
Committee: ECON
Amendment 191 #

2009/0144(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (iia) protectingeventing regulatory arbitrage and undue competition between Member States in rigidity of supervision and enforcement of regulation, (ii) protecting investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the CommunityUnion law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/24
Committee: ECON
Amendment 201 #

2009/0144(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting protect investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination, (vi) developing common methodologies for assessing the effect of product characteristics and distribution process on the financial position of institutions and on customer protection, with the aim to contributing to a level playing field. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the CommunityUnion law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/24
Committee: ECON
Amendment 216 #

2009/0144(COD)

Proposal for a regulation
Article 2 – paragraph 1 – subparagraph 1 – point 1
(1) 'financial market participant' means any person in relation to whom a requirement in the legislation referred to in Article 1(2) or a national law implementing such legislation appliesundertaking whose main business is to take deposits, grant credits, provide insurance services or other financial services to its clients or members or engage in financial investment or trading activities on its own account, and any other undertaking or entity operating in the European Union, whose business is of a similar nature, even if they have no direct dealings with the public at large.
2010/03/24
Committee: ECON
Amendment 227 #

2009/0144(COD)

Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1 – point c
(c) stimulate and facilitate the delegation of tasks and responsibilities between competent authorities;
2010/03/24
Committee: ECON
Amendment 231 #

2009/0144(COD)

Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1 – point e
(e) organise and conduct peer review analysis of competent authorities, to strengthen consistency in supervisory outcomes;
2010/03/24
Committee: ECON
Amendment 326 #

2009/0144(COD)

Proposal for a regulation
Article 9 – paragraph 6 – subparagraph 2 a (new)
Any legal or judiciary expenses entailed by the procedure described above should be borne by the Commission, on behalf of the Authority.
2010/03/24
Committee: ECON
Amendment 338 #

2009/0144(COD)

Proposal for a regulation
Article 10 – paragraph 1
1. In the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the CommunityEuropean Union, the Commission or the Chair of the Authority, upon its own initiative or following a request by the Authority, the Council, or the ESRB, may adopt a decision addressed to the Authority,Council, or the ESRB, the European Parliament or the Stakeholder group may adopt a decision determining the existence of an emergency situation for the purposes of this regulation.
2010/03/24
Committee: ECON
Amendment 384 #

2009/0144(COD)

Proposal for a regulation
Article 13 – paragraph 2
2. The Authority shall stimulate and facilitate the delegation of tasks and responsibilities between competent authorities by identifying those tasks and responsibilities that can be delegated or jointly exercised and by promoting best practices.
2010/03/24
Committee: ECON
Amendment 386 #

2009/0144(COD)

Proposal for a regulation
Article 13 – paragraph 3 – subparagraph 3
The Authority shall publish any delegation agreement as concluded by the competent authorities by appropriate means, in order to ensure that all parties concerned are informed appropriately. These agreements shall mention the respective responsibility of the competent authorities involved.
2010/03/24
Committee: ECON
Amendment 394 #

2009/0144(COD)

Proposal for a regulation
Article 15 – paragraph 1
1. The Authority shall periodically organise and conduct peer review analyses of some or all of the activities of competent authorities, to further enhance consistency in supervisory outcomes. To this end, the Authority shall develop methods to allow for objective assessment and comparison between the authorities reviewed.
2010/03/24
Committee: ECON
Amendment 414 #

2009/0144(COD)

Proposal for a regulation
Article 19 – paragraph 2
2. With regard to prudential assessments of mergers and acquisitions falling under the terms of Directive 2007/44/EC, the Authority may, on its own initiative or on application of any competent authorities, monitor the assessments and provide guidance with a view to streamline and provide a level playing field, and issue and publish an opinion on a prudential assessment to be carried out by any authority of a Member State. Article 20 shall apply.
2010/03/24
Committee: ECON
Amendment 429 #

2009/0144(COD)

Proposal for a regulation
Article 22 – paragraph 2 - subparagraph 1
2. The Securities and Markets Stakeholder Group shall be composed of 30 members, representing in balanced proportions CommunityEU financial market participants, their employees as well as consumers, investors and users of financial services. The Securities and Markets Stakeholder Group shall be composed at least of 10 representatives from consumers, and users such as investors, of 5 representatives of the employees, of 5 independent top-ranking academics and of not more than 10 representatives from the organisations of the supervised institutions.
2010/03/24
Committee: ECON
Amendment 442 #

2009/0144(COD)

Proposal for a regulation
Article 22 – paragraph 2 - subparagraph 2
The Securities and Markets Stakeholder Group shall meet at least twicefour times a year.
2010/03/24
Committee: ECON
Amendment 448 #

2009/0144(COD)

Proposal for a regulation
Article 22 – paragraph 3 - subparagraph 3
The Authority shall ensure adequate secretarial support for the Securities and Markets Stakeholder Group and adequate reimbursement of travel and subsistence expenses, as well as an allowance for participation in the activities for those Members for whom the absence of reimbursement would be prohibitive for being able to participate. The European budget should as well provide for proper funding for an expertise center where professional experts in financial services regulation and supervision can give technical advise exclusively to the buy side investors-, SME- and consumers organisations to underpin their input in the stakeholder advisory groups.
2010/03/24
Committee: ECON
Amendment 453 #

2009/0144(COD)

Proposal for a regulation
Article 22 – paragraph 4 - subparagraph 1
4. Members of the Securities and Markets Stakeholder Group shall serve for a period of two and a halffive years, following which a new selection procedure shall take place.
2010/03/24
Committee: ECON
Amendment 454 #

2009/0144(COD)

Proposal for a regulation
Article 22 – paragraph 4 - subparagraph 2
The members may serve two successive terms.deleted
2010/03/24
Committee: ECON
Amendment 461 #

2009/0144(COD)

Proposal for a regulation
Article 22 – paragraph 5
5. The Securities and Markets Stakeholder Group may submit opinions and advice to the Authority on any issue related to the tasks of the Authority specified in Articles 7 and 8, 9 and 10.
2010/03/24
Committee: ECON
Amendment 521 #

2009/0144(COD)

Proposal for a regulation
Article 25 – paragraph 1 – subparagraph 1 – point a
(a) the Chairperson, who shall be non-ith a casting votinge;
2010/03/24
Committee: ECON
Amendment 522 #

2009/0144(COD)

Proposal for a regulation
Article 25 – paragraph 1 – subparagraph 1 – point a a (new)
(aa) the vice-Chair, with a casting vote if replacing the Chairperson;
2010/03/24
Committee: ECON
Amendment 527 #

2009/0144(COD)

Proposal for a regulation
Article 26 – paragraph 2
2. For the purposes of Article 11, the Board of SupervisorsChairperson shall convoke a panel to facilitate the settlement of the disagreement, consisting of the Chairperson and two of its members, who are not representatives of the competent authorities which are parties to the disagreement.
2010/03/24
Committee: ECON
Amendment 531 #

2009/0144(COD)

Proposal for a regulation
Article 28 – paragraph 3
3. The Board of Supervisors shall appoint the Chairperson and the vice-Chair.
2010/03/24
Committee: ECON
Amendment 532 #

2009/0144(COD)

Proposal for a regulation
Article 28 – paragraph 4 a (new)
4a. The Board of Supervisors shall, on the basis of a proposal by the Management Board, adopt the annual report on the activities of the Authority on the basis of the draft report referred to in Article 38(7) and shall transmit that report to the European Parliament, the Council, the Commission, the Court of Auditors, the European Economic and Social Committee by 15 June. The report shall be made public.
2010/03/24
Committee: ECON
Amendment 549 #

2009/0144(COD)

Proposal for a regulation
Article 30 – paragraph 1 – subparagraph 2
Each member other than the Chairperson shall have an alternate, who may replace the member of the Management Board if that person is prevented from attending. The Chairperson may be replaced by the Vice- Chair and members by alternates appointed according to Article 25(2).
2010/03/24
Committee: ECON
Amendment 552 #

2009/0144(COD)

Proposal for a regulation
Article 30 – paragraph 3 – subparagraph 2
It shall meet at least bi-annually in ordinary sessionpreceding every Board of Supervisors meeting and as often as it deems necessary.
2010/03/24
Committee: ECON
Amendment 555 #

2009/0144(COD)

Proposal for a regulation
Article 32 – paragraph 6
6. The Management Board shall, after consulting the Board of Supervisors, adopt the annual report on the activities of the Authority on the basis of the draft report referred to in Article 38(7) and shall transmit that report to the European Parliament, the Council, the Commission, the Court of Auditors, the European Economic and Social Committee by 15 June. The report shall be made public.deleted
2010/03/24
Committee: ECON
Amendment 556 #

2009/0144(COD)

Proposal for a regulation
Article 32 – paragraph 8
8. The Management Board shall appoint and remove the members of the Board of Appeal in accordance with Article 44(3) and 44(5).deleted
2010/03/24
Committee: ECON
Amendment 557 #

2009/0144(COD)

Proposal for a regulation
Article 33 – paragraph 1 – subparagraph 1
1. The Authority shall be represented by a Chairperson and a Vice-Chair, who shall be a full-time independent professionals.
2010/03/24
Committee: ECON
Amendment 558 #

2009/0144(COD)

Proposal for a regulation
Article 33 – paragraph 1 – subparagraph 2 a (new)
The Vice-Chair shall act as an alternate to the Chairperson and shall also be responsible for external relations with the Joint Committee, the ESRB and international bodies.
2010/03/24
Committee: ECON
Amendment 560 #

2009/0144(COD)

Proposal for a regulation
Article 33 – paragraph 2 – subparagraph 1
2. The Chairperson and the Vice-Chair shall be appointed by the Board of Supervisors on the basis of merit, skills, knowledge of financial market participants and markets, and experience relevant to financial supervision and regulation, following an open selection procedure.
2010/03/24
Committee: ECON
Amendment 562 #

2009/0144(COD)

Proposal for a regulation
Article 33 – paragraph 2 – subparagraph 2
Before appointment, the candidates selected by the Board of Supervisors shall be subject to confirmation by the European Parliament.
2010/03/24
Committee: ECON
Amendment 563 #

2009/0144(COD)

Proposal for a regulation
Article 33 – paragraph 2 – subparagraph 3
TIn the absence of the Chairperson and the Vice-Chair, the Board of Supervisors shall also elect from among its members an alterna temporary substitute who shall carry out the functions of the Chairperson in hisor the Vice-Chair in their absence.
2010/03/24
Committee: ECON
Amendment 566 #

2009/0144(COD)

Proposal for a regulation
Article 36 – paragraph 2
2. The Executive Director shall be appointed by the Board of Supervisors on a proposal of the Management Board on the basis of merit, skills, knowledge of financial market participants and markets, and experience relevant to financial supervision and regulation and managerial experience, following an open selection procedure.
2010/03/24
Committee: ECON
Amendment 567 #

2009/0144(COD)

Proposal for a regulation
Article 36 – paragraph 4 – subparagraph 1
4. In the course of the nine months preceding the end of the five-year term of office of the Executive Director, the Board of SupervisorsManagement Board shall undertake an evaluation.
2010/03/24
Committee: ECON
Amendment 568 #

2009/0144(COD)

Proposal for a regulation
Article 36 – paragraph 4 – subparagraph 2
In that evaluation, the Board of SupervisorsManagement Board shall assess in particular:
2010/03/24
Committee: ECON
Amendment 569 #

2009/0144(COD)

Proposal for a regulation
Article 36 – paragraph 4 – subparagraph 3
The Board of SupervisorsManagement Board taking into account the evaluation may extend the term of office of the Executive Director once.
2010/03/24
Committee: ECON
Amendment 570 #

2009/0144(COD)

Proposal for a regulation
Article 36 – paragraph 5
5. The Executive Director may be removed from office only upon Decision of the Board of Supervisors and upon proposal of the management Board.
2010/03/24
Committee: ECON
Amendment 580 #

2009/0144(COD)

Proposal for a regulation
Article 40 – paragraph 2
2. The Joint Committee shall serve as a forumoverarching structure of the ESFS in which the Authority shall cooperate regularly and closely and ensure cross- sectoral consistency with the European Insurance and Occupational Pensions Authority and the Banking Authority.
2010/03/24
Committee: ECON
Amendment 584 #

2009/0144(COD)

Proposal for a regulation
Article 41 – paragraph 1
1. The Joint Committee shall be composed of than independent Chairperson, an independent Vice Chairperson, and the Chairpersons of the European Insurance and Occupational Pensions Authority and the European BankingAuthority, and, where applicable, the Chairperson of a Sub-Committee established under Article 43.
2010/03/24
Committee: ECON
Amendment 589 #

2009/0144(COD)

Proposal for a regulation
Article 42 a (new)
Article 42a The Joint Committee shall monitor and coordinate the colleges of supervisors that supervise the large cross border financial institutions which are considered to be systemically important. The list of systemically important financial institutions under the scope of Art 2.1 is defined by the ESRB in close coordination with the Joint Committee. The Joint Committee may decide to take over the direct responsibilities and competences attributed to the Authority in this Regulation for individual financial institutions, after proper consultation of the supervised institutions and the Boards and Stakeholder Groups of the Authorities involved, particularly in the case of financial conglomerates and institutions that operate cross sector in the fields of competence of more than one Authority
2010/03/24
Committee: ECON
Amendment 592 #

2009/0144(COD)

Proposal for a regulation
Article 44 – paragraph 2 – subparagraph 2
The Board of Appeal designates its PresidentPresident, appointed jointly by the Council, Commission and European Parliament, should be a professional lawyer.
2010/03/24
Committee: ECON
Amendment 593 #

2009/0144(COD)

Proposal for a regulation
Article 44 – paragraph 2 – subparagraph 3
The decisions of the Board of Appeal shall be adopted on the basis of a simple majority of at leastvote, with a casting vote four of its six membersthe President.
2010/03/24
Committee: ECON
Amendment 595 #

2009/0144(COD)

Proposal for a regulation
Article 44 – paragraph 3 – subparagraph 1
3. Two mMembers of the Board of Appeal and two alternates shall be appointed by the Management Board of the Authority from a short-list proposed by the Commission, following a public call for expression of interest published in the Official Journal of the European Union, and after consultation of the Board of Supervisors, after consultation with the Authorities' Management Boards, as follows: – two members and two alternates by the Council; – two members and two alternates by the Commission; – two members and two alternates by the European Parliament.
2010/03/24
Committee: ECON
Amendment 600 #

2009/0144(COD)

Proposal for a regulation
Article 44 – paragraph 3 – subparagraph 2
The other Members shall be appointed in accordance with Regulation (EC) No …/… [EIOPA] and Regulation (EC) No …/… [EBA].deleted
2010/03/24
Committee: ECON
Amendment 617 #

2009/0144(COD)

Proposal for a regulation
Article 56 – paragraph 1 – subparagraph 1 a (new)
They shall not enter a job with financial institutions previously supervised by the European System of Financial Supervision in the first 18 months after they left their position.
2010/03/24
Committee: ECON
Amendment 620 #

2009/0144(COD)

Proposal for a regulation
Article 61 – paragraph 1 a (new)
This participation should materialise in an effective bilateral and multilateral exchange of information between competent authorities and the Authority, with full respect of the applicable confidentiality and data protection provisions provided for in the relevant Union legislation.
2010/03/24
Committee: ECON
Amendment 626 #

2009/0144(COD)

Proposal for a regulation
Article 66 – paragraph 1 – subparagraph 1 a (new)
That report shall include an assessment of the functioning of the Stakeholders Group and its possible strengthening towards making the issuing of these advices mandatory.
2010/03/24
Committee: ECON
Amendment 190 #

2009/0143(COD)

Proposal for a regulation
Recital 32
(33) Where appropriate, the Authority should consult interested parties on technical standards, guidelines and recommendations and provide them with a reasonable opportunity to comment on proposed measures. For reasons of efficiency, an Insurance, Reinsurance and Occupational Pension Funds Stakeholder Group should be established for that purpose, representing in balanced proportions CommunityUnion insurance and reinsurance firms as well as occupational pension funds (including as appropriate institutional investors and other financial institutions which themselves use financial services), their employees, and consumers and other retail users of the insurance, reinsurance and occupational pension services, including SMEs. The Insurance, Reinsurance and Occupational Pension Funds Stakeholder Group should comprise at least of 15 representatives from consumer and end-user groups, 5 independent top-ranking academics and 10 representatives from the sector and its employees. The Insurance, Reinsurance and Occupational Pension Funds Stakeholder Group should actively work as an interface with other user groups in the financial services area established by the Commission or CommunityUnion legislation.
2010/03/23
Committee: ECON
Amendment 194 #

2009/0143(COD)

Proposal for a regulation
Recital 40
(401) In order to guarantee its full autonomy and independence, the Authority should be granted an autonomous budget with revenues mainly from obligatory contributions from national supervisory authorities and, from the General Budget of the European Union. The Community and from any direct fees paid by financial institutions. The Union budgetary procedure should be applicable as far as the CommunityUnion contribution is concerned. The auditing of accounts should be undertaken by the Court of Auditors.
2010/03/23
Committee: ECON
Amendment 200 #

2009/0143(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ia) preventing regulatory arbitrage and undue competition between Member States in rigidity of supervision and enforcement of regulation (ii) protecting depositors and investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination, (vi) developing common methodologies for assessing the effect of product characteristics and distribution process on the financial position of institutions and on customer protection, with the aim of contributing to a level playing field. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the CommunityUnion law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/23
Committee: ECON
Amendment 209 #

2009/0143(COD)

Proposal for a regulation
Article 2 – point 1
(1) 'financial institutions' means insurance undertakings as defined in Directive 98/78/EC, reinsurance undertakings as defined in Directive 2005/68/EC and institutions for occupational retirement provision covered by Directive 2003/41/EC, and 'financial conglomerates' as defined in Directive 2002/87/ECwhose main business is to take deposits, grant credits, provide insurance services or other financial services to its clients or members or engage in financial investment or trading activities on its own account, and other undertakings or entities operating in the Union whose business is of a similar nature, even if they have no direct dealings with the public at large;
2010/03/23
Committee: ECON
Amendment 219 #

2009/0143(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point c
(c) stimulate and facilitate the delegation of tasks and responsibilities between national supervisorycompetent authorities;
2010/03/23
Committee: ECON
Amendment 221 #

2009/0143(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point e
(e) organise and conduct peer review analysis of national supervisorycompetent authorities, to strengthen consistency in supervisory outcomes;
2010/03/23
Committee: ECON
Amendment 300 #

2009/0143(COD)

Proposal for a regulation
Article 9 – paragraph 6 – subparagraph 2 a (new)
Any legal or judiciary expenses entailed by the procedure described in the first subparagraph shall be borne by the Commission, on behalf of the Authority.
2010/03/23
Committee: ECON
Amendment 310 #

2009/0143(COD)

Proposal for a regulation
Article 10 – paragraph 1
1. In the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Community, Union, the Commission or the Chair of the Authority, upon its own initiative or following a request by the Authority, the Council, or the ESRB, may adopt a decision addressed to the Authority,Council, the ESRB, the European Parliament or the Stakeholder group may adopt a decision determining the existence of an emergency situation for the purposes of this regulation.
2010/03/23
Committee: ECON
Amendment 369 #

2009/0143(COD)

Proposal for a regulation
Article 13 – paragraph 2
2. The Authority shall stimulate and facilitate the delegation of tasks and responsibilities between national supervisory authorities by identifying those tasks and responsibilities that can be delegated or jointly exercised and by promoting best practices.
2010/03/23
Committee: ECON
Amendment 371 #

2009/0143(COD)

Proposal for a regulation
Article 13 – paragraph 3 – subparagraph 3
The Authority shall publish any delegation agreement as concluded by the national supervisory authorities by appropriate means, in order to ensure that all parties concerned are informed appropriately. Those agreements shall refer to the respective responsibility of the competent authorities involved.
2010/03/23
Committee: ECON
Amendment 378 #

2009/0143(COD)

Proposal for a regulation
Article 15 – paragraph 1
1. The Authority shall periodically organise and conduct peer review analyses of some or all of the activities of national supervisory authorities, to further enhance consistency in supervisory outcomes. To this end, the Authority shall develop methods to allow for objective assessment and comparison between the authorities reviewed.
2010/03/23
Committee: ECON
Amendment 397 #

2009/0143(COD)

Proposal for a regulation
Article 19 – paragraph 2
2. With regard to prudential assessments of mergers and acquisitions falling under the terms of Directive 2007/44/EC, the Authority may, on its own initiative or on application of any national supervisory authorities, monitor the assessments and provide guidance with a view to streamline and provide a level playing field, and issue and publish an opinion on a prudential assessment to be carried out by any authority of a Member State.. Article 20 shall apply.
2010/03/23
Committee: ECON
Amendment 418 #

2009/0143(COD)

Proposal for a regulation
Article 22 – paragraph 2 – subparagraph 1
2. The Insurance, Reinsurance and Occupational Pension Funds Stakeholder Group shall be composed of 30 members, representing in balanced proportions CommunityEU credit and investment institutions, their employees as well as consumers and users of the insurance, reinsurance and occupational pension services. The Insurance, Reinsurance and Occupational Pension Funds Stakeholder Group shall be composed at least of 10 representatives from consumers, and users such as pension fund trustees, of 5 representatives of the employees, of 5 independent top-ranking academics and of not more than 10 representatives from the organisations of the supervised institutions.
2010/03/23
Committee: ECON
Amendment 422 #

2009/0143(COD)

Proposal for a regulation
Article 22 – paragraph 2 – subparagraph 2
The Insurance, Reinsurance and Occupational Pension Funds Stakeholder Group shall meet at least twicefour times a year.
2010/03/23
Committee: ECON
Amendment 427 #

2009/0143(COD)

Proposal for a regulation
Article 22 – paragraph 3 – subparagraph 3
The Authority shall ensure adequate secretarial support for tThe Insurance, Reinsurance and Occupational Pension Funds Stakeholder Group. and adequate reimbursement of travel and subsistence expenses, as well as an allowance for participation in the activities for those Members for whom the absence of reimbursement would be prohibitive for being able to participate. The European budget should as well provide for proper funding for an expertise centre where professional experts in financial services regulation and supervision can give technical advise exclusively to the buy side investors-, SME- and consumers organisations to underpin their input in the stakeholder advisory groups.
2010/03/23
Committee: ECON
Amendment 435 #

2009/0143(COD)

Proposal for a regulation
Article 22 – paragraph 4 – subparagraph 1
4. Members of the Insurance, Reinsurance and Occupational Pension Funds Stakeholder Group shall serve for a period of two and a halffive years, following which a new selection procedure shall take place.
2010/03/23
Committee: ECON
Amendment 436 #

2009/0143(COD)

Proposal for a regulation
Article 22 – paragraph 4 – subparagraph 2
The members may serve two successive terms.deleted
2010/03/23
Committee: ECON
Amendment 443 #

2009/0143(COD)

Proposal for a regulation
Article 22 – paragraph 5
5. The Insurance, Reinsurance and Occupational Pension Funds Stakeholder Group may submit opinions and advice to the Authority on any issue related to the tasks of the Authority specified in Articles 7 and 8, 9 and 10.
2010/03/23
Committee: ECON
Amendment 476 #

2009/0143(COD)

Proposal for a regulation
Article 25 – paragraph 1 – point a
(a) the Chairperson, who shall be non-ith a casting votinge;
2010/03/23
Committee: ECON
Amendment 477 #

2009/0143(COD)

Proposal for a regulation
Article 25 – paragraph 1 – point a a (new)
(aa) the vice-Chair, with a casting vote if replacing the Chairperson
2010/03/23
Committee: ECON
Amendment 482 #

2009/0143(COD)

Proposal for a regulation
Article 26 – paragraph 2 – subparagraph 1
2. For the purposes of Article 11, the Board of SupervisorsChairperson shall convoke a panel to facilitate the settlement of the disagreement, consisting of the Chairperson and two of its members, who are not representatives of the national supervisory authorities which are parties to the disagreement.
2010/03/23
Committee: ECON
Amendment 488 #

2009/0143(COD)

Proposal for a regulation
Article 28 – paragraph 3
3. The Board of Supervisors shall appoint the Chairperson and the vice-Chair.
2010/03/23
Committee: ECON
Amendment 489 #

2009/0143(COD)

Proposal for a regulation
Article 28 – paragraph 4 a (new)
4a. The Board of Supervisors shall, on the basis of a proposal by the Management Board, adopt the annual report on the activities of the Authority on the basis of the draft annual report referred to in Article 38(7) and shall transmit that report to the European Parliament, the Council, the Commission, the Court of Auditors, the European Economic and Social Committee by 15 June. The report shall be made public.
2010/03/23
Committee: ECON
Amendment 502 #

2009/0143(COD)

Proposal for a regulation
Article 30 – paragraph 1 – subparagraph 2
Each member other than the Chairperson shall have an alternate, who may replace the member of the Management Board if that person is prevented from attending. The Chairperson may be replaced by the Vice- Chair and members by alternates appointed according to Article 25(2).
2010/03/23
Committee: ECON
Amendment 504 #

2009/0143(COD)

Proposal for a regulation
Article 30 – paragraph 3 – subparagraph 2
It shall meet at least bi-annually in ordinary sessionpreceding every Board of Supervisors meeting and as often as it deems necessary.
2010/03/23
Committee: ECON
Amendment 507 #

2009/0143(COD)

Proposal for a regulation
Article 32 – paragraph 6
6. The Management Board shall, after consulting the Board of Supervisors, adopt the annual report on the activities of the Authority on the basis of the draft report referred to in Article 38(7) and shall transmit that report to the European Parliament, the Council, the Commission, the Court of Auditors, the European Economic and Social Committee by 15 June. The report shall be made public.deleted
2010/03/23
Committee: ECON
Amendment 509 #

2009/0143(COD)

Proposal for a regulation
Article 32 – paragraph 8
8. The Management Board shall appoint and remove the members of the Board of Appeal in accordance with Article 44(3) and 44(5).deleted
2010/03/23
Committee: ECON
Amendment 511 #

2009/0143(COD)

Proposal for a regulation
Article 33 – paragraph 1
1. The Authority shall be represented by a Chairperson and a Vice-Chair, who shall be a full-time independent professionals. The Chairperson shall be responsible for preparing the work of the Board of Supervisors and shall chair the meetings of the Board of Supervisors and the Management Board. The Vice-Chair shall act as an alternate to the Chairperson and shall also be responsible for external relations with the Joint Committee, the ESRB and international bodies.
2010/03/23
Committee: ECON
Amendment 515 #

2009/0143(COD)

Proposal for a regulation
Article 33 – paragraph 2
2. The Chairperson and the Vice-Chair shall be appointed by the Board of Supervisors on the basis of merit, skills, knowledge of financial institutions and markets, and experience relevant to financial supervision and regulation, following an open selection procedure. Before appointment, the candidates selected by the Board of Supervisors shall be subject to confirmation by the European Parliament. TIn the absence of the Chairperson and the Vice-Chair, the Board of Supervisors shall also elect from among its members an alterna temporary substitute who shall carry out the functions of the Chairperson in hisor the Vice-Chair in their absence.
2010/03/23
Committee: ECON
Amendment 518 #

2009/0143(COD)

Proposal for a regulation
Article 36 – paragraph 2
2. The Executive Director shall be appointed by the Board of Supervisors on a proposal of the Management Board on the basis of merit, skills, knowledge of financial institutions and markets, and experience relevant to financial supervision and regulation and managerial experience, following an open selection procedure.
2010/03/23
Committee: ECON
Amendment 519 #

2009/0143(COD)

Proposal for a regulation
Article 36 – paragraph 4
4. In the course of the nine months preceding the end of the five-year term of office of the Executive Director, the Board of SupervisorsManagement Board shall undertake an evaluation. In that evaluation, the Board of SupervisorsManagement Board shall assess in particular: (a) the results achieved in the first term of Office and the way they were achieved; (b) the Authority’s duties and requirement in the coming years. The Board of SupervisorsManagement Board taking into account the evaluation may extend the term of office of the Executive Director once.
2010/03/23
Committee: ECON
Amendment 520 #

2009/0143(COD)

Proposal for a regulation
Article 36 – paragraph 5
5. The Executive Director may be removed from office only upon Decision of the Board of Supervisors and upon proposal of the Management Board.
2010/03/23
Committee: ECON
Amendment 528 #

2009/0143(COD)

Proposal for a regulation
Article 40 – paragraph 2
2. The Joint Committee shall serve as a forumoverarching structure of the ESFS in which the Authority shall cooperate regularly and closely and ensure cross- sectoral consistency with the European Banking Authority and the European Securities and Markets Authority.
2010/03/23
Committee: ECON
Amendment 530 #

2009/0143(COD)

Proposal for a regulation
Article 41 – paragraph 1
1. The Joint Committee shall be composed of the Can independent Chairperson, an independent Vice chairperson, and the Chairpersons of the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority, and, where applicable, the Chairperson of a Sub-Committee established under Article 43.
2010/03/23
Committee: ECON
Amendment 531 #

2009/0143(COD)

Proposal for a regulation
Article 42 a (new)
Article 42 a 1. The Joint Committee shall monitor and coordinate the colleges of supervisors that supervise the large cross border financial institutions which are considered to be systemically important. 2. The list of systemically important financial institutions under the scope of Art 2.1 is defined by the ESRB in close coordination with the Joint Committee. 3. The Joint Committee may decide to take over the direct responsibilities and competences attributed to the Authority in this Regulation for individual financial institutions, after proper consultation of the supervised institutions and the Boards and Stakeholder Groups of the Authorities involved, particularly in the case of financial conglomerates and institutions that operate cross sector in the fields of competence of more than one Authority.
2010/03/23
Committee: ECON
Amendment 534 #

2009/0143(COD)

Proposal for a regulation
Article 44 – paragraph 2 – subparagraph 2
The Board of Appeal designates its PresidentPresident, appointed jointly by European Parliament, the Council and the Commission, should be a professional lawyer.
2010/03/23
Committee: ECON
Amendment 535 #

2009/0143(COD)

Proposal for a regulation
Article 44 – paragraph 2 – subparagraph 3
The decisions of the Board of Appeal shall be adopted on the basis of a simple majority of at leastvote, with a casting vote four of its six membersthe President.
2010/03/23
Committee: ECON
Amendment 537 #

2009/0143(COD)

Proposal for a regulation
Article 44 – paragraph 3 – subparagraph 1
3. Twohe members of the Board of Appeal and twohe alternates shall be appointed by the Management Board of the Authority from a short-list proposed by the Commission, following a public call for expression of interest published in the Official Journal of the European Union, and after consultation of the Board of Supervisors, after consultation with the Authorities' Management Boards, as follows: - two members and two alternates by the Council; - two members and two alternates by the Commission; - two members and two alternates by the European Parliament.
2010/03/23
Committee: ECON
Amendment 541 #

2009/0143(COD)

Proposal for a regulation
Article 44 – paragraph 3 – subparagraph 2
The other Members shall be appointed in accordance with Regulation (EC) No …/…[EBA] and Regulation (EC) No …/…[ESMA].deleted
2010/03/23
Committee: ECON
Amendment 556 #

2009/0143(COD)

Proposal for a regulation
Article 56 – paragraph 1 – subparagraph 1 a (new)
They shall not enter a job with financial institutions previously supervised by the European System of Financial Supervision in the first 18 months after they left their position.
2010/03/23
Committee: ECON
Amendment 559 #

2009/0143(COD)

Proposal for a regulation
Article 61 – paragraph 1 a (new)
This participation should materialise in an effective bilateral and multilateral exchange of information between competent authorities and the Authority, with full respect of the applicable confidentiality and data protection provisions provided for in the relevant Community legislation.
2010/03/23
Committee: ECON
Amendment 567 #

2009/0143(COD)

Proposal for a regulation
Article 66 – paragraph 1 – subparagraph 1 a (new)
That report shall include an assessment of the functioning of the Stakeholders Group and its possible strengthening towards making the issuing of these advices mandatory.
2010/03/23
Committee: ECON
Amendment 245 #

2009/0142(COD)

Proposal for a regulation
Recital 33
(33) Where appropriate, the Authority should consult interested parties on technical standards, guidelines and recommendations and provide them with a reasonable opportunity to comment on proposed measures. For reasons of efficiency, a Banking Stakeholder Group should be established for that purpose, representing in balanced proportions Community credit and investment institutions (including as appropriate institutional investors and other financial institutions which themselves use financial services), their employees, and consumers and other retail users of banking services, including SMEs. The Banking Stakeholder Group shall be composed at least of 15 representatives from consumers and users, of 5 independent top-ranking academics and of 10 representatives from the sector and its employees. The Banking Stakeholder Group should actively work as an interface with other user groups in the financial services area established by the Commission or Community legislation.
2010/03/26
Committee: ECON
Amendment 265 #

2009/0142(COD)

Proposal for a regulation
Recital 41
(41) In order to guarantee its full autonomy and independence, the Authority should be granted an autonomous budget with revenues mainly from obligatory contributions from national supervisory authorities and from the General Budget of the European Unany direct fees paid by financial institutions. The Community budgetary procedure should be applicable as far as the Community contribution is concerned. The auditing of accounts should be undertaken by the Court of Auditors.
2010/03/26
Committee: ECON
Amendment 278 #

2009/0142(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ia) preventing regulatory arbitrage and undue competition between Member States in rigidity of supervision and enforcement of regulation, (ii) protecting depositors and investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the Community law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/26
Committee: ECON
Amendment 285 #

2009/0142(COD)

Proposal for a regulation
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting depositors and investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination, (vi) developing common methodologies for assessing the effect of product characteristics and distribution process on the financial position of institutions and on customer protection, with the aim to contributing to a level playing field. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the Community law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
2010/03/26
Committee: ECON
Amendment 302 #

2009/0142(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point 1
(1) 'financial institutions' means 'credit institutions' as defined in Directive 2006/48/EC, 'investment firms' as defined in Directive 2006/49/EC, and 'financial conglomerates' as defined in Directive 2002/87/ECany undertaking whose main business is to take deposits, grant credits, provide insurance services or other financial services to its clients or members or engage in financial investment or trading activities on its own account, and any other undertaking or entity operating in the European Union, whose business is of a similar nature, even if they have no direct dealings with the public at large;
2010/03/26
Committee: ECON
Amendment 321 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point c
(c) stimulate and facilitate the delegation of tasks and responsibilities between competent authorities;
2010/03/26
Committee: ECON
Amendment 326 #

2009/0142(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point e
(e) organise and conduct peer review analysis of competent authorities, to strengthen consistency in supervisory outcomes;
2010/03/26
Committee: ECON
Amendment 437 #

2009/0142(COD)

Proposal for a regulation
Article 9 – paragraph 6 – subparagraph 2 a (new)
Any legal or judiciary expenses entailed by the procedure described above should be borne by the Commission, on behalf of the Authority.
2010/04/15
Committee: ECON
Amendment 454 #

2009/0142(COD)

Proposal for a regulation
Article 10 – paragraph 1
1. In the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Community, the Commission or the Chair of the Authority, upon its own initiative or following a request by the Authority, the Council, or the ESRB, may adopt a decision addressed to the Authority,Council, the ESRB, the European Parliament or the Stakeholder group may adopt a decision determining the existence of an emergency situation for the purposes of this regulation.
2010/04/15
Committee: ECON
Amendment 513 #

2009/0142(COD)

Proposal for a regulation
Article 13 – paragraph 2
2. The Authority shall stimulate and facilitate the delegation of tasks and responsibilities between competent authorities by identifying those tasks and responsibilities that can be delegated or jointly exercised and by promoting best practices.
2010/04/15
Committee: ECON
Amendment 515 #

2009/0142(COD)

Proposal for a regulation
Article 13 – paragraph 3 – subparagraph 3
The Authority shall publish any delegation agreement as concluded by the competent authorities by appropriate means, in order to ensure that all parties concerned are informed appropriately. These agreements shall mention the respective responsibility of the competent authorities involved.
2010/04/15
Committee: ECON
Amendment 525 #

2009/0142(COD)

Proposal for a regulation
Article 15 – paragraph 1
1. The Authority shall periodically organise and conduct peer review analyses of some or all of the activities of competent authorities, to further enhance consistency in supervisory outcomes. To this end, the Authority shall develop methods to allow for objective assessment and comparison between the authorities reviewed.
2010/04/15
Committee: ECON
Amendment 553 #

2009/0142(COD)

Proposal for a regulation
Article 19 – paragraph 2
2. With regard to prudential assessments of mergers and acquisitions falling under the terms of Directive 2007/44/EC, the Authority may, on its own initiative or on application of any competent authorities, monitor the assessments and provide guidance with a view to streamline and provide a level playing field, and issue and publish an opinion on a prudential assessment to be carried out by any authority of a Member State. Article 20 shall apply.
2010/03/26
Committee: ECON
Amendment 586 #

2009/0142(COD)

Proposal for a regulation
Article 22 – paragraph 2 – subparagraph 1
2. The Banking Stakeholder Group shall be composed of 30 members, representing in balanced proportions Community credit and investment institutions, their employees as well as consumers and users of banking services. The Banking Stakeholder Group shall be composed at least of 10 representatives from consumers, and users such as SME’s, of 5 representatives of the employees, of 5 independent top-ranking academics and of not more than 10 representatives from the organisations of the supervised institutions.
2010/03/26
Committee: ECON
Amendment 595 #

2009/0142(COD)

Proposal for a regulation
Article 22 – paragraph 2 – subparagraph 2
The Banking Stakeholder Group shall meet at least twicefour times a year.
2010/03/26
Committee: ECON
Amendment 598 #

2009/0142(COD)

Proposal for a regulation
Article 22 – paragraph 3 – subparagraph 3
The Authority shall ensure adequate secretarial support for the Banking Stakeholder Group and adequate reimbursement of travel and subsistence expenses, as well as an allowance for participation in the activities for those Members for whom the absence of reimbursement would be prohibitive for being able to participate. The European budget should as well provide for proper funding for an expertise center where professional experts in financial services regulation and supervision can give technical advise exclusively to the buy side investors-, SME- and consumers organisations to underpin their input in the stakeholder advisory groups.
2010/03/26
Committee: ECON
Amendment 602 #

2009/0142(COD)

Proposal for a regulation
Article 22 – paragraph 4 – subparagraph 1
4. Members of the Banking Stakeholder Group shall serve for a period of two and a halffive years, following which a new selection procedure shall take place.
2010/03/26
Committee: ECON
Amendment 603 #

2009/0142(COD)

Proposal for a regulation
Article 22 – paragraph 4 – subparagraph 2
The members may serve two successive terms.deleted
2010/03/26
Committee: ECON
Amendment 609 #

2009/0142(COD)

Proposal for a regulation
Article 22 – paragraph 5
5. The Banking Stakeholder Group may submit opinions and advice to the Authority on any issue related to the tasks of the Authority specified in Articles 7 and 8, 9 and 10.
2010/03/26
Committee: ECON
Amendment 654 #

2009/0142(COD)

Proposal for a regulation
Article 25 – paragraph 1 – point a
(a) the Chairperson, who shall be non-ith a casting votinge;
2010/03/26
Committee: ECON
Amendment 655 #

2009/0142(COD)

Proposal for a regulation
Article 25 – paragraph 1 – point a a (new)
(aa) the vice-Chair, with a casting vote if replacing the Chairperson;
2010/03/26
Committee: ECON
Amendment 660 #

2009/0142(COD)

Proposal for a regulation
Article 26 – paragraph 2 – subparagraph 1
2. For the purposes of Article 11, the Board of SupervisorsChairperson shall convoke a panel to facilitate the settlement of the disagreement, consisting of the Chairperson and two of its members, who are not representatives of the competent authorities which are parties to the disagreement.
2010/03/26
Committee: ECON
Amendment 665 #

2009/0142(COD)

Proposal for a regulation
Article 28 – paragraph 3
3. The Board of Supervisors shall appoint the Chairperson and the vice-Chair.
2010/03/26
Committee: ECON
Amendment 666 #

2009/0142(COD)

Proposal for a regulation
Article 28 – paragraph 4 a (new)
4a. The Board of Supervisors shall, on the basis of a proposal by the Management Board, adopt the annual report on the activities of the Authority on the basis of the draft report referred to in Article 38(7) and shall transmit that report to the European Parliament, the Council, the Commission, the Court of Auditors, the European Economic and Social Committee by 15 June. The report shall be made public.
2010/03/26
Committee: ECON
Amendment 689 #

2009/0142(COD)

Proposal for a regulation
Article 30 – paragraph 1 – subparagraph 2
Each member other than the Chairperson shall have an alternate, who may replace the member of the Management Board if that person is prevented from attending. The Chairperson may be replaced by the Vice- Chair and members by alternates appointed according to Article 25.2.
2010/03/26
Committee: ECON
Amendment 691 #

2009/0142(COD)

Proposal for a regulation
Article 30 – paragraph 3 – subparagraph 2
It shall meet at least bi-annually in ordinary sessionpreceding every Board of Supervisors meeting and as often as it deems necessary.
2010/03/26
Committee: ECON
Amendment 695 #

2009/0142(COD)

Proposal for a regulation
Article 32 – paragraph 6
6. The Management Board shall, after consulting the Board of Supervisors, adopt the annual report on the activities of the Authority on the basis of the draft report referred to in Article 38(7) and shall transmit that report to the European Parliament, the Council, the Commission, the Court of Auditors, the European Economic and Social Committee by 15 June. The report shall be made public.deleted
2010/03/26
Committee: ECON
Amendment 696 #

2009/0142(COD)

Proposal for a regulation
Article 32 – paragraph 8
8. The Management Board shall appoint and remove the members of the Board of Appeal in accordance with Article 44(3) and 44(5).deleted
2010/03/26
Committee: ECON
Amendment 698 #

2009/0142(COD)

Proposal for a regulation
Article 33 – paragraph 1 – subparagraph 1
1. The Authority shall be represented by a Chairperson and a Vice-Chair, who shall be a full-time independent professionals.
2010/03/26
Committee: ECON
Amendment 699 #

2009/0142(COD)

Proposal for a regulation
Article 33 – paragraph 1 – subparagraph 2 a (new)
The Vice-Chair shall act as an alternate to the Chairperson and shall also be responsible for external relations with the Joint Committee, the ESRB and international bodies.
2010/03/26
Committee: ECON
Amendment 701 #

2009/0142(COD)

Proposal for a regulation
Article 33 – paragraph 2 – subparagraph 1
2. The Chairperson and the Vice-Chair shall be appointed by the Board of Supervisors on the basis of merit, skills, knowledge of financial institutions and markets, and experience relevant to financial supervision and regulation, following an open selection procedure.
2010/03/26
Committee: ECON
Amendment 703 #

2009/0142(COD)

Proposal for a regulation
Article 33 – paragraph 2 – subparagraph 2
Before appointment, the candidates selected by the Board of Supervisors shall be subject to confirmation by the European Parliament.
2010/03/26
Committee: ECON
Amendment 704 #

2009/0142(COD)

Proposal for a regulation
Article 33 – paragraph 2 – subparagraph 3
TIn the absence of the Chairperson and the Vice-Chair, the Board of Supervisors shall also elect from among its members an alterna temporary substitute who shall carry out the functions of the Chairperson in hisor the Vice-Chair in their absence.
2010/03/26
Committee: ECON
Amendment 710 #

2009/0142(COD)

Proposal for a regulation
Article 36 – paragraph 2
2. The Executive Director shall be appointed by the Board of Supervisors on a proposal of the Management Board on the basis of merit, skills, knowledge of financial institutions and markets, and experience relevant to financial supervision and regulation and managerial experience, following an open selection procedure.
2010/03/26
Committee: ECON
Amendment 711 #

2009/0142(COD)

Proposal for a regulation
Article 36 – paragraph 4 – subparagraph 1
4. In the course of the nine months preceding the end of the five-year term of office of the Executive Director, the Board of SupervisorsManagement Board shall undertake an evaluation.
2010/03/26
Committee: ECON
Amendment 712 #

2009/0142(COD)

Proposal for a regulation
Article 36 – paragraph 4 – subparagraph 2
In that evaluation, the Board of SupervisorsManagement Board shall assess in particular:
2010/03/26
Committee: ECON
Amendment 713 #

2009/0142(COD)

Proposal for a regulation
Article 36 – paragraph 4 – subparagraph 3
The Board of SupervisorsManagement Board taking into account the evaluation may extend the term of office of the Executive Director once.
2010/03/26
Committee: ECON
Amendment 714 #

2009/0142(COD)

Proposal for a regulation
Article 36 – paragraph 5
5. The Executive Director may be removed from office only upon Decision of the Board of Supervisors and upon proposal of the management Board.
2010/03/26
Committee: ECON
Amendment 728 #

2009/0142(COD)

Proposal for a regulation
Article 40 – paragraph 2
2. The Joint Committee shall serve as a forumoverarching structure of the ESFS in which the Authority shall cooperate regularly and closely and ensure cross- sectoral consistency with the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority.
2010/03/26
Committee: ECON
Amendment 731 #

2009/0142(COD)

Proposal for a regulation
Article 41 – paragraph 1
1. The Joint Committee shall be composed of the Can independent Chairperson, an independent Vice chairperson, and the Chairpersons of the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority, and, where applicable, the Chairperson of a Sub-Committee established under Article 43.
2010/03/26
Committee: ECON
Amendment 743 #

2009/0142(COD)

Proposal for a regulation
Article 42 a (new)
Article 42a The Joint Committee shall monitor and coordinate the colleges of supervisors that supervise the large cross border financial institutions which are considered to be systemically important. The list of systemically important financial institutions under the scope of Art 2.1 is defined by the ESRB in close coordination with the Joint Committee. The Joint Committee may decide to take over the direct responsibilities and competences attributed to the Authority in this Regulation for individual financial institutions, after proper consultation of the supervised institutions and the Boards and Stakeholder Groups of the Authorities involved, particularly in the case of financial conglomerates and institutions that operate cross sector in the fields of competence of more than one Authority.
2010/03/26
Committee: ECON
Amendment 749 #

2009/0142(COD)

Proposal for a regulation
Article 44 – paragraph 2 – subparagraph 2
The Board of Appeal designates its PresidentPresident, appointed jointly by the Council, Commission and European Parliament, should be a professional lawyer.
2010/03/26
Committee: ECON
Amendment 750 #

2009/0142(COD)

Proposal for a regulation
Article 44 – paragraph 2 – subparagraph 3
The decisions of the Board of Appeal shall be adopted on the basis of a simple majority of at leastvote, with a casting vote four of its six membersthe President.
2010/03/26
Committee: ECON
Amendment 752 #

2009/0142(COD)

Proposal for a regulation
Article 44 – paragraph 3 – subparagraph 1
3. Twohe members of the Board of Appeal and two alternates shall be appointed by the Management Board of the Authority from a short-list proposed by the Commission, following a public call for expression of interest published in the Official Journal of the European Union, and, after consultation with the Authorities' Management Boards, as follows:. – two members and two alternates by the Council, – two members and two alternates by the Commission, – two members and two aflter consultation of the Board of Supervisorsnates by the European Parliament.
2010/03/26
Committee: ECON
Amendment 756 #

2009/0142(COD)

Proposal for a regulation
Article 44 – paragraph 3 – subparagraph 2
The other Members shall be appointed in accordance with Regulation (EC) No …/…[EIOPA] and Regulation (EC) No …/…[ESMA].deleted
2010/03/26
Committee: ECON
Amendment 777 #

2009/0142(COD)

Proposal for a regulation
Article 56 – paragraph 1 – subparagraph 1 a (new)
They shall not enter a job with financial institutions previously supervised by the European System of Financial Supervision in the first 18 months after they left their position.
2010/03/26
Committee: ECON
Amendment 780 #

2009/0142(COD)

Proposal for a regulation
Article 61 – paragraph 1 a (new)
This participation should materialise in an effective bilateral and multilateral exchange of information between competent authorities and the Authority, with full respect of the applicable confidentiality and data protection provisions provided for in the relevant Community legislation.
2010/03/26
Committee: ECON
Amendment 789 #

2009/0142(COD)

Proposal for a regulation
Article 66 – paragraph 1 – subparagraph 1 a (new)
That report shall include an assessment of the functioning of the Stakeholders Group and its possible strengthening towards making the issuing of these advices mandatory.
2010/03/26
Committee: ECON
Amendment 19 #

2009/0141(CNS)

Proposal for a regulation
Article 1 – paragraph 1 b (new)
1b. The first Vice-Chair shall be elected by the voting members of the General Board with regard to the need for a balanced representation of Member States and those within and outside the euro area. He or she may be re-elected.
2010/03/19
Committee: ECON
Amendment 20 #

2009/0141(CNS)

Proposal for a regulation
Article 1 – paragraph 1 c (new)
1c. The second Vice-Chair shall be the Chair of the Joint Committee of European Supervisory Authorities.
2010/03/19
Committee: ECON
Amendment 21 #

2009/0141(CNS)

Proposal for a regulation
Article 1 – paragraph 1 d (new)
1d. Before taking office, the Chair and the first Vice-Chair of the ESRB shall present to the European Parliament, during a public hearing, how they intend to discharge their duties under this Regulation. The second Vice-Chair shall be heard by the European Parliament in his or her role as Chair of the Joint Committee of European Supervisory Authorities.
2010/03/19
Committee: ECON
Amendment 115 #

2009/0140(COD)

Proposal for a regulation
Article 2 – point a
(a) ‘financial institution’ means any undertaking whose main business is to take deposits, grant credits, provide insurance services or other financial services to its clients or members or engage in financial investment or trading activities on its own account, and any other undertaking or entity operating in the European Union, whose business is of a similar nature, even if it has no direct dealings with the public at large.
2010/03/19
Committee: ECON
Amendment 116 #

2009/0140(COD)

Proposal for a regulation
Article 2 – point b
(b) ‘financial system’ means all financial institutions, markets, products and market infrastructures.
2010/03/19
Committee: ECON
Amendment 117 #

2009/0140(COD)

Proposal for a regulation
Article 2 – point b a (new)
(ba) ‘systemic risk’ means a risk of disruption to financial services that is caused by a significant impairment of all or parts of the financial system and has the potential to have serious negative consequences for the real economy. In this context, any type of financial institution and intermediary, market, infrastructure and instrument has the potential to be systemically significant.
2010/03/19
Committee: ECON
Amendment 118 #

2009/0140(COD)

Proposal for a regulation
Article 3 – paragraph 1
1. The ESRB shall be responsible for the macro-prudential oversight of the financial system within the Community in order to prevent or mitigate systemic risks within the financial system, so as to avoid episperiodes of widespread financial distress, contribute to a smooth functioning of the Internal Market and to ensure a sustainable contribution of the financial sector to economic growth, thereby contributing to achieving the objectives of the Union pursuant to Article 3 of the Treaty on European Union.
2010/03/19
Committee: ECON
Amendment 138 #

2009/0140(COD)

Proposal for a regulation
Article 5 – paragraph 1 a (new)
1a. The first Vice-Chair shall be elected by the voting members of the General Board with regard to the need for a balanced representation of Member States, and those within and outside the euro area. He or she may be re-elected.
2010/03/19
Committee: ECON
Amendment 140 #

2009/0140(COD)

Proposal for a regulation
Article 5 – paragraph 1 b (new)
1b. The second Vice-Chair shall be the Chair of the Joint Committee of European Supervisory Authorities.
2010/03/19
Committee: ECON
Amendment 141 #

2009/0140(COD)

Proposal for a regulation
Article 5 – paragraph 1 c (new)
1c. Before taking office, the Chair and first Vice-Chair of the ESRB shall present to the European Parliament, during a public hearing, how they intend to discharge their duties under this Regulation. The second Vice-Chair shall be heard by the European Parliament in his or her role as Chair of the Joint Committee of European Supervisory Authorities.
2010/03/19
Committee: ECON
Amendment 146 #

2009/0140(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point f a and subparagraph 1 a (new)
(fa) six independent persons, each Board of Supervisors and each Stakeholder Group of the European Supervisory Authorities designating one. The persons referred to in point (fa) shall not be members of the ESAs but shall be chosen on the basis of their general competence and their diverse backgrounds in academic fields or other sectors, in particular in small and medium-sized enterprises, trade unions or as providers or consumers of financial services. The persons should represent a fair balance between buy-side, sell-side and employees’ representatives. At the time of nomination the European Supervisory Authorities shall indicate which person is designated also to serve on the Steering Committee. The nominations shall be confirmed by the other members of the General Board with voting rights. In carrying out their responsibilities, the persons appointed shall neither seek nor take instructions from any government or other institution, body, office, entity or private person. They shall refrain from any action incompatible with their duties or the performance of their tasks.
2010/03/19
Committee: ECON
Amendment 149 #

2009/0140(COD)

Proposal for a regulation
Article 6 – paragraph 1 – point f a (new)
(fa) a person nominated by each of the European Trade Union Confederation, Business Europe and the European Consumers’ Organisation.
2010/03/19
Committee: ECON
Amendment 156 #

2009/0140(COD)

Proposal for a regulation
Article 7 – paragraph -1 (new)
-1. Members of the General Board who are also members of the General Council of the ECB shall act independently when performing their duties, in particular where it is possible that decisions of the ESRB could relate to the ECB mandate.
2010/03/19
Committee: ECON
Amendment 157 #

2009/0140(COD)

Proposal for a regulation
Article 9 – paragraph 1
1. Ordinary plenary meetings of the General Board shall be convened by the Chair of the General Board and shall occur at least four times a year. Extraordinary meetings may be convened at the initiative of the Chair of the General Board or at the request of at least one third of the Members with voting rights.
2010/03/19
Committee: ECON
Amendment 163 #

2009/0140(COD)

Proposal for a regulation
Article 11 – paragraph 1 – point b
(b) the first and second Vice-Chairs of the ESRB;
2010/03/19
Committee: ECON
Amendment 167 #

2009/0140(COD)

Proposal for a regulation
Article 11 – paragraph 1 – point c
(c) fivesix other members of the General Board who are also members of the General Council of the ECB, including three independent persons on a rotation basis, with regard to the need for a necessary balanced representation of Member States and those within and outside the euro area. They shall be elected by and from the Members of the General Board who are also members of the General Council of the ECB for a period of two years.;
2010/03/19
Committee: ECON
Amendment 172 #

2009/0140(COD)

Proposal for a regulation
Article 11 – paragraph 1 – point e
(e) the Chairperson of the European Banking AuthoritySupervisory Authority (Banking);
2010/03/19
Committee: ECON
Amendment 174 #

2009/0140(COD)

Proposal for a regulation
Article 11 – paragraph 1 – point f
(f) the Chairperson of the European Supervisory Authority (Insurance and Occupational Pensions Authority);
2010/03/19
Committee: ECON
Amendment 176 #

2009/0140(COD)

Proposal for a regulation
Article 11 – paragraph 1 – point g
(g) the Chairperson of the European Supervisory Authority (Securities and Markets Authority);
2010/03/19
Committee: ECON
Amendment 177 #

2009/0140(COD)

Proposal for a regulation
Article 11 – paragraph 1 – point h
(h) the President of the Economic and Financial Committee.deleted
2010/03/19
Committee: ECON
Amendment 180 #

2009/0140(COD)

Proposal for a regulation
Article 11 – paragraph 1 – second subparagraph
Any vacancy for an elected Member of the Steering Committee shall be filled by the election of a new Member by the General Board.deleted
2010/03/19
Committee: ECON
Amendment 185 #

2009/0140(COD)

Proposal for a regulation
Article 12 – paragraph 1 – introductory part
1. The Advisory TechnicalScientific Committee shall be composed of the following:
2010/03/19
Committee: ECON
Amendment 186 #

2009/0140(COD)

Proposal for a regulation
Article 12 – paragraph 1 – point a
(a) a representative of each national central nine experts with acknowledged competences and guaranteed independence proposed by the Steering Committee. They shall represent a wide range of experience and skills and have a balanced background and expertise regarding the sell side (banks and a representative of the ECB; other financial service providers), the buy side (consumers, corporate and SME users and investors) and employees of the sector. They shall be approved by the General Board for a two-year renewable mandate.
2010/03/19
Committee: ECON
Amendment 187 #

2009/0140(COD)

Proposal for a regulation
Article 12 – paragraph 1 – point b
(b) one representative per Member State of the competent national supervisory authorityexpert with acknowledged competences and guaranteed independence nominated by each of the European Trade Union Confederation, Business Europe and the European Consumers’ Organisation;
2010/03/19
Committee: ECON
Amendment 190 #

2009/0140(COD)

Proposal for a regulation
Article 12 – paragraph 1 – second subparagraph
The supervisory authorities of each Member State shall choose one representative in the Committee. When the agenda of a meeting contains points pertaining to the competence of several national supervisory authorities in the same Member State, the respective representative shall participate only for the agenda items falling under his competence.deleted
2010/03/19
Committee: ECON
Amendment 200 #

2009/0140(COD)

Proposal for a regulation
Article 15 – paragraph 3
3. The ESRB may request information fromOn the request of the ESRB, the European Supervisory Authorities shall provide information in summary or collective form, such that individual financial institutions cannot be identified. If the requested data are not available to those Authorities or are not made available in a timely manner, the ESRB may request the data from national supervisory authorities, national central banks or other authorities of Member States shall provide the appropriate data pursuant to a request by the ESRB.
2010/03/19
Committee: ECON
Amendment 204 #

2009/0140(COD)

Proposal for a regulation
Article 15 – paragraph 5
5. Before requesting information in accordance with paragraphs 3 and 4, the ESRB shall duly consult the relevant European Supervisory Authority in order to ensure that the request is proportionate.deleted
2010/03/19
Committee: ECON
Amendment 217 #

2009/0140(COD)

Proposal for a regulation
Article 16 – paragraph 3
3. TAll the warnings or recommendations shall also be transmitted to the Council and, where addressed to one or more national supervisory authority,, to the Chairperson of the responsible committee of the European Parliament and to the European Supervisory Authorities.
2010/03/19
Committee: ECON
Amendment 233 #

2009/0140(COD)

Proposal for a regulation
Article 17 – paragraph 2
2. If the ESRB decides that its recommendation has not been followed and that the addressees have failed to explain their inaction appropriately, it shall inform the CouncilEuropean Parliament, the Council, the Commission and, where relevant, the European Supervisory Authorities concerned.
2010/03/19
Committee: ECON
Amendment 234 #

2009/0140(COD)

Proposal for a regulation
Article 18 – paragraph 1
1. The General Board of the ESRB shall decide on a case-by-case basis whether a warning or a recommendation should be made public on a case-by-ca. Warnings and recommendations should be kept confidential only in those bcasis. By derogation to Article 10(2), a qualified majority of two- thirds of the votes is needed to make a warning or recommendation publices where there is an apparent risk that they could prompt seriously destabilising market reactions. Deviating from Article 10(2), the non-disclosure of a warning or recommendation requires a qualified two- thirds majority of the votes cast.
2010/03/19
Committee: ECON
Amendment 237 #

2009/0140(COD)

Proposal for a regulation
Article 18 – paragraph 3
3. Where the gGeneral Board of the ESRB decides not to make a warning or a recommendation public, the addressee and, where appropriate, the European Parliament, the Council and the European Supervisory Authorities, shall take all the measures necessary for the protection of theirits confidential nature. The President of the Council may decide not to circulate a warning or recommendation to the other Members of the Council. The Chairperson of the Authority and the Chairperson of the responsible committee of the European Parliament may decide not to circulate a warning or a recommendation to the other members of their organisation.
2010/03/19
Committee: ECON
Amendment 240 #

2009/0140(COD)

Proposal for a regulation
Article 18 – paragraph 3 a (new)
3a. Any data on which the General Board of the ESRB bases its analysis before issuing a warning or a recommendation shall be made public for analysis in an appropriately anonymous form. In the event of confidential warnings, information shall only be made available ex post.
2010/03/19
Committee: ECON
Amendment 79 #

2009/0099(COD)

Proposal for a directive – amending act
Recital 4 a (new)
(4a) By December 2012, the Commission should review the principles on remuneration policy with particular regard to the need to close any loopholes and to the efficiency, implementation, and enforcement of the principles, taking into account international developments. The Commission should also examine in detail bonus pools and the link between the formulas used to build them and excessive risk-taking behaviour.
2010/03/31
Committee: ECON
Amendment 84 #

2009/0099(COD)

Proposal for a directive – amending act
Recital 8
(8) In order to ensure fast and effective enforcement, competent authorities should also have the power to impose either financial or non-financial measures or penalties for breach of a requirement under Directive 2006/48/EC, including the requirement to have remuneration policies that are consistent with sound and effective risk management. Those measures and penalties should be effective, proportionate and dissuasive. In order to ensure consistency and a level playing field, the Commission should review the implementation of that provision with regard to the consistency between the measures and penalties across the Union and, where appropriate, come forward with proposals, including as regards the need for introducing stricter penalties.
2010/03/31
Committee: ECON
Amendment 91 #

2009/0099(COD)

Proposal for a directive – amending act
Recital 11
(11) Since poorly designed remuneration policies and incentive schemes are capable of increasing to an unacceptable extent the risks to which credit institutions and investment firms are exposed, prompt remedial action and, if necessary, appropriate corrective measures should be taken. Consequently, it is appropriate that competent authorities have the power to impose qualitative or quantitative measures on the relevant entities that are designed to address problems that have been identified in relation to remuneration policies in the Pillar 2 supervisory review. Qualitative measures available to competent authorities include requiring credit institutions or investment firms to reduce the risk inherent in their activities, products or systems, including structureintroducing changes to their structures of remuneration or freezing the variable parts of remuneration to the extent that they are inconsistent with effective risk management. Quantitative measures include a requirement to hold additional own funds.
2010/03/31
Committee: ECON
Amendment 136 #

2009/0099(COD)

Proposal for a directive – amending act
Article 1 – point 10 a (new)
Directive 2006/48/EC
Article 156 – paragraph 3 a (new)
(10a) In Article 156, the following paragraph is inserted after the third paragraph: "In order to ensure consistency and a level playing field, the Commission shall review the implementation of Article 54 with regard to the consistency between the measures and penalties across the Union and, if appropriate, put forward proposals, including as regard the need for introducing stricter penalties."
2010/03/31
Committee: ECON
Amendment 158 #

2009/0099(COD)

Proposal for a directive – amending act
Annex I – point 1
Directive 2006/48/EC
Annex V – section 11 – point 22 – point b a (new)
(ba) the remuneration policy introduces a degree of fairness between the highest and lowest remunerations within the same institution;
2010/03/31
Committee: ECON
Amendment 165 #

2009/0099(COD)

Proposal for a directive – amending act
Annex I – point 1
Directive 2006/48/EC
Annex V – section 11 – point 22 – point e a (new)
(ea) the variable remuneration pool is strictly limited as a percentage of total net revenues in order to maintain a sound capital base and, where necessary to maintain this sound capital base, no variable remuneration is paid;
2010/03/31
Committee: ECON
Amendment 187 #

2009/0099(COD)

Proposal for a directive – amending act
Annex I – point 1 a (new)
Directive 2006/48/EC
Annex V – section 11 – point 22 a (new)
(1a) In Section 11 of Annex V, the following point is inserted: "22a. Credit institutions that are significant in terms of their size, internal organisation and the nature, the scope and the complexity of their activities shall establish a remuneration committee. The remuneration committee shall be constituted in such a way as to enable it to exercise competent and independent judgment on remuneration policies and practices and the incentives created for managing risk, capital and liquidity. The remuneration committee shall be responsible for the preparation of decisions regarding remuneration, including those which have implications for the risk and risk management of the credit institution concerned and which are to be taken by the management body in its supervisory function. The Chair and the members of the remuneration Committee shall be members of the management body who do not perform any executive functions in the credit institution concerned. When preparing such decisions, the remuneration committee shall take into account the long-term interests of shareholders, investors and other stakeholders in the credit institution."
2010/03/31
Committee: ECON
Amendment 144 #

2009/0064(COD)

Proposal for a directive
Title
on Alternative Investment Fund Managers and amending Directives 2004/39/EC, 2009/…/EC and 2009/…3/6/EC
2010/02/12
Committee: ECON
Amendment 147 #

2009/0064(COD)

Proposal for a directive
Recital 2
(2) The impact of AIFM on the markets in which they operate is largely beneficial, but rRecent financial difficulties have underlined how activities of AIFM may also serve to spread or amplify risks through the financial system and the economy. Uncoordinated national responses to these risks make the efficient management of these risks difficult. This Directive therefore aims at establishing common requirements governing the authorisation and supervision of AIFM in order to provide a coherent approach to the related risks and their impact on investors and markets in the CommunityUnion. As a matter of principle, there should be regulation in view of long-term sustainable growth and to promote social cohesion. Such regulation should address consumer and investor protection, market integrity and stability and it should prevent systemic risk and tackle social externalities.
2010/02/12
Committee: ECON
Amendment 154 #

2009/0064(COD)

Proposal for a directive
Recital 3 a (new)
(3a) The purpose of this Directive should also be to create incentives towards the relocation of off-shore funds in the EU, bringing not only regulatory and investor protection advantages but also allowing for a proper taxation of revenues, at manager, fund and investor level.
2010/02/12
Committee: ECON
Amendment 159 #

2009/0064(COD)

Proposal for a directive
Recital 4
(4) The Directive lays down requirements regarding the way in which AIFM should manage alternative investment funds (AIF) under their responsibility. It would be disproportionatefficult to regulate the structure or composition of the portfolios of the AIF managed by AIFM and it would be difficult to provide for such extensive harmonisation due to the very diverse types of AIF managed by AIFM.
2010/02/12
Committee: ECON
Amendment 168 #

2009/0064(COD)

Proposal for a directive
Recital 5
(5) The scope of this Directive should be confined tocover the management of collective investment undertakings which raise capital from a number of investors with a view to investing it in accordance with a defined or discretionary investment policy on the principle of risk-spreading for the benefit of those investors. This Directive should notalso apply to the management of pension funds or managers of non-pooled investments such as endowments, sovereign wealth funds or assets single investor funds and leveraged managed accounts, in order to preserve a level playing field between similar types of investment vehicles. It should on own account by credit institutions, insurance or reinsurance undertakingnot apply to public interest entities. This Directive should neither apply to actively managed investments in the form of securities, such as certificates, managed futures, or index- linked bonds. Nor should this Directive apply to holding companies insofar as they hold shares in their subsidiaries, given that such holding companies are not established for the main purpose of generating returns for their investors by means of, in particular, the divestment of their subsidiaries within a set timeframe, but which are aimed at carrying out a business strategy through their subsidiaries. It should, however, cover managers of all collective investment undertakings which are not required to be authorised as UCITS. Investment firms authorised under Directive 2004/39/EC on Markets in Financial Instruments should not be required to obtain an authorisation under this Directive in order to provide investment services in respect of AIF. Investment firms can however only provide investment services in respect of AIF, if and to the extent the units or shares thereof can be marketed in accordance with this Directive.
2010/02/12
Committee: ECON
Amendment 179 #

2009/0064(COD)

Proposal for a directive
Recital 5 a (new)
(5a) Public interest entities, which solicit or hold funds received from the public, such as credit institutions, pension funds, insurance or reinsurance undertakings holding assets on their own account should be subject to their specific regime and their investment in funds be regulated in light of the specific characteristics of each category and the type of the funds. In this regard, the European Commission shall review Directive 2006/48/EC of the European Parliament and the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast), Directive 2003/41/EC of the European Parliament and the Council of 3 June 2003 on the activities and supervision of institutions for occupational retirement provision1, Directive 73/239/EEC of 24 July 1973 on the coordination of laws, regulations and administrative provisions relating to the taking-up and pursuit of the business of direct insurance other than life assurance2, Directive 2002/83/EC of the European Parliament and of the Council of 5 November 2002 concerning life assurance3 and Directive 2005/68/EC of the European Parliament and Council of 16 November 2005 on reinsurance and amending Council Directives 73/239/EEC, 92/49/EEC as well as Directives 98/78/EC and 2002/83/EC4reinsurance4 so as to ensure that the following principles are followed: due diligence requirements similar to those applicable to AIFM are imposed to public interest entities when investing and an appropriate framework is set regarding such investments (in the form in particular of capital requirements and capital reserves). 1 OJ L 235, 23.9.2003, p. 10. 2 OJ L 228, 16.8.1973, p. 3. 3 OJ L 345, 19.12.2002, p. 1. 4 OJ L 323, 9.12.2005, p. 1.
2010/02/12
Committee: ECON
Amendment 185 #

2009/0064(COD)

Proposal for a directive
Recital 6
(6) In order to avoid imposing excessive or disproportionate requirements, this Directive provides for an exemption for AIFM where the cumulative AIF under management fall below a threshold of EUR 100 million. The activities of the AIFM concerned are unlikely to have significant consequences for financial stability or market efficiency. For AIFM which only manage unleveraged AIF and do not grant investors redemption rights during a period of five years a specific threshold of EUR 500 million applies. This specific threshold is justified by the fact that managers of unleveraged funds, specialised in long term investments, are even less likely to cause systemic risks. Furthermore, the five years lock-up of investors eliminates liquidity risks. AIFM which are exempt from this Directive should continue to be subject to any relevant national legislation. They should however be allowed to be treated as AIFM subject to the opt-in procedure foreseen by this Directive.deleted
2010/02/12
Committee: ECON
Amendment 195 #

2009/0064(COD)

Proposal for a directive
Recital 7
(7) This Directive aims at providing a harmonised and stringent regulatory and supervisory framework for the activities of AIFM. Authorisation in accordance with this Directive should cover the services of management and administration of AIF throughout the Community. In addition, authorised AIFM should be entitled to market AIF in the Community to professional investors, subject to a notification procedureUnion.
2010/02/12
Committee: ECON
Amendment 214 #

2009/0064(COD)

Proposal for a directive
Recital 11
(11) It is necessary to provide for the application of minimum capital requirements to ensure the continuity and the regularity of the management services provided by the AIFM. The ongoing capital requirements should cover the potential exposure of AIFM to professional liability in respect of all their activities, including management services provided under delegation or on the basis of a mandate. Own funds should be invested in liquid assets or assets readily convertible to cash in the short-term and should not include speculative positions.
2010/02/12
Committee: ECON
Amendment 225 #

2009/0064(COD)

Proposal for a directive
Recital 12 a (new)
(12a) In order to address the potentially detrimental effect of poorly designed remuneration structures on the sound management of risk and control of risk- taking behaviour by individuals, there should be an express obligation for AIFM to establish and maintain, for those categories of staff whose professional activities have a material impact on their risk profile or the risk profiles of AIF they manage, remuneration policies and practices that are consistent with effective risk management. Those categories of staff should at least include senior management, risk takers and control functions.
2010/02/12
Committee: ECON
Amendment 226 #

2009/0064(COD)

Proposal for a directive
Recital 12 b (new)
(12b) In order to avoid excessive risk taking and provide for a better alignment of interest, fund managers should commit some of their own money in the funds they manage.
2010/02/12
Committee: ECON
Amendment 240 #

2009/0064(COD)

Proposal for a directive
Recital 15 a (new)
(15a) In view of the general objective of financial stability and containment of systemic risk, particular attention should be paid to financial institutions such as lending institutions and prime brokers which are key partners to the AIF and are active in the building risk processes. Those institutions, in addition to complying with disclosure requirements towards competent authorities, should also be subject to specific capital requirements considering the risk they incur, depending on their links with AIF. Moreover, the conflict of interest arising when those institutions run AIF themselves in parallel of providing services to their customers should be addressed in the appropriate legislative texts as a matter of urgency.
2010/02/12
Committee: ECON
Amendment 249 #

2009/0064(COD)

Proposal for a directive
Recital 16 a (new)
(16a) Short selling is a widespread market practice extensively used by AIFM and other market participants. Although it may sometimes perform a useful role in keeping markets liquid, it also makes them more volatile and plays a part in destabilising them because of its pro- cyclical effect. In particular, the part played by short selling in accelerating a market downturn has long been documented whenever a financial market crisis occurs. In addition, short selling can encourage the spread of false rumours with a view to making a profit on a falling market. As the orderly operation and integrity of markets is vital to restoring the confidence of long-term investors, who are vital to finance the economy, and as the integration of financial markets demands common practices within the European Union in order to avoid regulatory shopping, Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse) should be amended to provide a regulatory framework for short selling and should prohibit naked short selling. The Commission should take into consideration, when establishing and subsequently adapting rules, the provisions in place in the United States in order to achieve a common standard on both sides of the Atlantic and thus facilitate the orderly operation of global financial markets.
2010/02/12
Committee: ECON
Amendment 254 #

2009/0064(COD)

Proposal for a directive
Recital 16 b (new)
(16b) The European Central Bank and the High-Level Group on Financial Supervision chaired by Jacques De Larosière have proposed the setting up of a global credit register. The creation of a global directory of all trading positions should help identify systemic risk arising from credit and counterparty exposures and from herding and contagion in the financial markets. A register should thus be set up by CESR and all information collected on AIFM leverage should be filed there.
2010/02/12
Committee: ECON
Amendment 255 #

2009/0064(COD)

Proposal for a directive
Recital 16 c (new)
(16c) Improper conduct by AIFM, but also by other market players, through the use of certain techniques such as stealth purchases or empty voting, could have destabilising effects on Union markets. In order to curb stealth acquisitions, an appropriate disclosure regime should include both direct voting interest in terms of outright ownership shares as well as indirect interest acquired through derivatives transactions or financial instruments giving rights to newly issued shares. The practice of empty voting should be banned as it is detrimental to companies and to markets. In this context, the Commission should review Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market1, Commission Directive 2007/14/EC of 8 March 2007 laying down detailed rules for the implementation of certain provisions of Directive 2004/109/EC on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market2 and Directive 2007/36/EC of the European Parliament and of the Council of 11 July 2007 on the exercise of certain rights of shareholders in listed companies3. 1 OJ L 390 31.12.2004, p. 38. 2 OJ L 69, 9.3.2007, p. 27. 3 OJ L 184, 11.7.2007, p. 17.
2010/02/12
Committee: ECON
Amendment 263 #

2009/0064(COD)

Proposal for a directive
Recital 17 a (new)
(17a) There is no Union-wide database of standardised information on AIFM. As a result, there is an information gap that cannot be satisfactorily filled with information supplied by the industry itself. It is therefore of critical importance to create a statistical database compiling information on AIFM. That database should be set up and managed by the Commission.
2010/02/12
Committee: ECON
Amendment 264 #

2009/0064(COD)

Proposal for a directive
Recital 17 b (new)
(17b) AIFM controlling a company wishing to dispose of assets in order to repay a portion of the acquisition debt should be appropriately controlled. To that effect, in the event a company under private equity control wishes to sell company assets in any material respect, the management of both the target company and the acquisition vehicles should issue a statement as to why the sale is implemented and certifying that the proposed sale is in the best interest of the target company. In the event the proposed sale is connected to a repayment of the acquisition debt, the employees of the target company should be informed and consulted. In the event the company becomes insolvent after the asset stripping, the private equity firm should be held liable. More generally, management of companies under leverage buy-outs should be required to issue a statement that capital outflows, including fees paid, are in the long term interest of the company, including its long term growth and research and development needs.
2010/02/12
Committee: ECON
Amendment 279 #

2009/0064(COD)

Proposal for a directive
Recital 19
(19) AIFM should also be able to market AIF domiciled in third countries to professional investors both in the home Member State of the AIFM and in other Member States. That right should be subject to notification procedures and the existence of a tax agreement with the third country concerned which ensures an efficient exchange of information with the tax authorities in the domicile of the Community investorthe signature of multilateral agreements on information exchange and tax cooperation between the third country and the Commission acting on behalf of Member States. Given the fact that such AIF and the third country in which they are domiciled have to meet additional requirements, some of which first have to be laid down in implementing measures, the rights granted under the Directive to market AIF domiciled in third countries to professional investors should only become effective three years after the transposition period. In the meantime Member States may allow or continue to allow AIFM to market AIF domiciled in third countries to professional investors on their territory subject to national law. During this period of three years, AIFM can however not market such AIF to professional investors in other Member States on the basis of rights granted under this Directive.
2010/02/12
Committee: ECON
Amendment 301 #

2009/0064(COD)

Proposal for a directive
Recital 27
(27) In particular the Commission should be empowered to adopt the measuredelegated acts necessary for the implementation of this Directive. In this respect, the Commission should be able to adopt measures determining the procedures under which AIFM managing portfolios of AIF whose assets under management do not exceed the threshold set out in this Directive may exercise their right to be treated as AIFM covered by this Directive. These measures are also designed in accordance with Article 290 of the Treaty to specify the criteria to be used by competent authorities to assess whether AIFM comply with their obligations as regards their conduct of business, the type of conflicts of interests AIFM have to identify, as well as the reasonable steps AIFM are expected to take in terms of internal and organizsational procedures in order to identify, prevent, manage and disclose conflicts of interest. They arshould also be designed to specify the principles to be respected by AIFM in their remuneration policies and practises. They should also be designed to specify the risk management requirements to be employed by AIFM as a function of the risks which the AIFM incurs on behalf of the AIF that it manages as well as any arrangements needed to enable AIFM to manage the particular risks associated with short selling transactions, including any relevant restrictions that might be needed to protect the AIF from undue risk exposures. They arshould also be designed to specify the liquidity management requirements of this Directive and in particular the minimum liquidity requirements for AIF. They arshould also be designed to specify the requirements that originators of securitisation instruments have to meet in order for an AIFM to be allowed to invest in such instruments issued after 1 January 2011. They are as wellshould also be designed to specify the requirements that AIFM have to comply with when investing in such securitisation instruments. They arshould also be designed to lay down the requirements related to initial and on going capital of AIFM. They should also be designed to specify the criteria under which a valuator can be considered independent in the meaning of this Directive. They arshould also be designed to specify the conditions under which the delegation of AIFM functions should be approved and the conditions under which the manager could no longer be considered to be the manager of the AIF in case of excessive delegation. They arshould also be designed to specify the content and format of the annual report that AIFM have to make available for each AIF they manage and to specify the disclosure obligations of AIFM to investors and reporting requirements to competent authorities as well as their frequency. They arshould also be designed to specify the disclosure requirements imposed on AIFM as regards leverage and the frequency of reporting to competent authorities and of disclosure to investors. They arshould also be designed to setting limits to the level of leverage AIFM can employ when managing AIF. They arshould also be designed to determine the detailed content and the way AIFM acquiring controlling influence in issuers and non-listed companies should fulfil their information obligation towards issuers and non-listed companies and their respective shareholders and representatives of employees, including the information to be provided in the annual reports of the AIF they manage. They arshould also be designed to specify the detailed content of the statements to be provided in relation with value extraction. They should also be designed to specify the types of restrictions or conditions that can be imposed on the marketing of AIF to professional investor in the home Member State of the AIFM. They arshould also be designed to specify general criteria for assessing equivalence of valuation standards of third countries where the valuator is established in a third country, the equivalence of legislation of third countries regarding depositaries and, for the purpose of the authorisation of AIFM established in third countries, the equivalence of prudential regulation and ongoing supervision. They arshould also be designed to specify general criteria for assessing whether third countries grant CommunityUnion AIFM effective market access comparable to that granted by the CommunityUnion to AIFM from third countries. They arshould also be designed to specify the modalities, content and frequency of exchange of information regarding AIFM between the competent authorities of the home Member State of the AIFM and other competent authorities where the AIFM individually or collectively with other AIFM may have an impact on the stability of systemically relevant financial institutions and the orderly functioning of markets. They arshould also be designed to specify the procedures for on-the-spot verifications and investigations.
2010/02/12
Committee: ECON
Amendment 311 #

2009/0064(COD)

Proposal for a directive
Article 1
This Directive lays down the rules for the authorisation, ongoing operation and transparency of the managers of alternative investment funds (AIFM) which provide management services to one or more alternative investment funds (AIF).
2010/02/15
Committee: ECON
Amendment 313 #

2009/0064(COD)

Proposal for a directive
Article 2 – paragraph 1 – subparagraph 1 - introductory part
1. This Directive shall apply to all AIFM established in the Community,Union, or AIFM which provide management services to one or more alternative investment funds (AIF)AIF whose investors include one or more investors residing or established in the Union, irrespective of:
2010/02/15
Committee: ECON
Amendment 344 #

2009/0064(COD)

Proposal for a directive
Article 2 – paragraph 2 – point a
(a) AIFM which either directly or indirectly through a company with which the AIFM is linked by common management or control, or by a substantive direct or indirect holding, manage portfolios of AIF whose assets under management, including any assets acquired through use of leverage, in total do not exceed a threshold of 100 million Euro or 500 millions euros when the portfolio of AIF consists of AIF that are not leveraged and with no redemption rights exercisable during a period of 5 years following the date of constitution of each AIF;deleted
2010/02/15
Committee: ECON
Amendment 361 #

2009/0064(COD)

Proposal for a directive
Article 2 – paragraph 2 – point c
(c) UCITS or their management or investment companies authorised in accordance with Directive 2009/…/EC [the UCITS Directive];deleted
2010/02/15
Committee: ECON
Amendment 396 #

2009/0064(COD)

Proposal for a directive
Article 2 – paragraph 2 – point g q (new)
(gq) national central banks;
2010/02/15
Committee: ECON
Amendment 416 #

2009/0064(COD)

Proposal for a directive
Article 2 – paragraph 3
3. Member States shall ensure that AIFM not reaching the threshold set out in paragraph 2(a) are entitled to be treated as AIFM falling under the scope of this Directive.deleted
2010/02/15
Committee: ECON
Amendment 428 #

2009/0064(COD)

Proposal for a directive
Article 2 – paragraph 4
4. The Commission shall adopt implementing measures with a view to determining the procedures under which AIFM managing portfolios of AIF whose assets under management do not exceed the threshold set out in paragraph 2(a) may exercise their right under paragraph 3. Those measures, designed to amend non- essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 49(3).deleted
2010/02/15
Committee: ECON
Amendment 443 #

2009/0064(COD)

Proposal for a directive
Article 3 – point a
(a) ‘Alternative investment fund’ or AIF means any collective investment undertaking, including investment compartments thereof whose object is the collective investment in assets and, single investor funds and leveraged managed accounts, which does not require authorisation pursuant to Article 5 of Directive 2009/65/EC [the UCITS Directive];
2010/02/15
Committee: ECON
Amendment 471 #

2009/0064(COD)

Proposal for a directive
Article 3 – point e
(e) ‘Marketing’ means any general offering or placement of units or shares in an AIF to or with investors domiciled in the CommunityUnion, regardless of at whose initiative the offer or placement takes place;
2010/02/15
Committee: ECON
Amendment 487 #

2009/0064(COD)

Proposal for a directive
Article 3 – point l
(l) ‘Leverage’ means any method by which the AIFM increases the exposure of an AIF it manages to a particular investment whether through borrowing of cash or securities, or leverage embedded in derivative positions or by any other means, including leverage used by funds or other legal entities controlled by the AIF, alone or jointly with other AIF;
2010/02/15
Committee: ECON
Amendment 493 #

2009/0064(COD)

Proposal for a directive
Article 3 – point oa (new)
(oa) ‘Leveraged managed account’ means an investment account that is managed by a third party who has the authority to do transactions without prior approval from the holder and in respect of which leverage is used in connection with such transactions.
2010/02/15
Committee: ECON
Amendment 545 #

2009/0064(COD)

Proposal for a directive
Article 5 – paragraph 1 - introductory part
1. An AIFM applying for an authorisation shall provide the following to the competent authorities of the Member State where it has its registered office: or, if the AIFM is not established in the Union, to the competent authority of the Member State where it intends to have the most active marketing activity of the AIF it manages:
2010/02/15
Committee: ECON
Amendment 551 #

2009/0064(COD)

Proposal for a directive
Article 5 – paragraph 1 - point b
(b) a programme of activity, including information on how the AIFM intends to comply with its obligations under chapters III, IV and where applicable, V, VI and VII, and information on the Member States in which the AIFM intends to market the AIF it manages;
2010/02/15
Committee: ECON
Amendment 566 #

2009/0064(COD)

Proposal for a directive
Article 5 – paragraph 1 - point g c (new)
(gc) information on the track record of the AIFM and, when the AIFM is a legal person, information on the track record of the legal representatives, directors and key employees of the AIFM;
2010/02/15
Committee: ECON
Amendment 568 #

2009/0064(COD)

Proposal for a directive
Article 5 – paragraph 2
The AIFM must have its head office in the same Member State as its registered office.deleted
2010/02/15
Committee: ECON
Amendment 570 #

2009/0064(COD)

Proposal for a directive
Article 5 – paragraph 2 a (new)
The information provided to a competent authority pursuant to paragraph 1, as well as any amendment or addition thereto, shall be notified without delay by such authority to the Member States in which the AIFM intends to market the AIF it manages and filed without delay by such authority with the Committee of European Securities Regulators (CESR). The CESR shall set up and operate a specific database for this purpose, which shall be accessible to the competent authorities of all Member States.
2010/02/15
Committee: ECON
Amendment 571 #

2009/0064(COD)

Proposal for a directive
Article 5 – paragraph 2a (new)
2a. The competent authorities of the Member States in which the AIFM intends to market the AIF it manages shall, within six weeks of receipt of the notification, be entitled to: (a) require from the competent authority with which the AIFM has filed its application any additional information regarding the applicant AIFM that the latter competent authority is entitled to require; (b) provide information to the competent authority with which the AIFM has filed its application; (c) state any objection to the authorisation of the applicant and receive from the competent authority with which the AIFM has filed its application a detailed answer to such objections.
2010/02/15
Committee: ECON
Amendment 576 #

2009/0064(COD)

Proposal for a directive
Article 6 – paragraph 1 – subparagraph 1
1. The competent authorities of the home Member State shall grant authorisation only if they are satisfied that the AIFM will be able to fulfil the conditions of this Directive, after taking into account any objection received pursuant to Article 5(2a).
2010/02/15
Committee: ECON
Amendment 585 #

2009/0064(COD)

Proposal for a directive
Article 6 – paragraph 4 – subparagraph 2
Reasons shall be given whenever an authorisation is refused or when restrictions are imposed. In case the competent authorities do not inform the applicant, such lack of response shall be deemed a rejection without justification of the requested authorisation.
2010/02/15
Committee: ECON
Amendment 605 #

2009/0064(COD)

Proposal for a directive
Article 9 a (new)
Article 9a Remuneration 1. Member States shall require AIFM to have remuneration policies and practices that are consistent with and promote sound and effective risk management and do not encourage excessive risk-taking or which is inconsistent with the risk profiles, fund rules or instruments of incorporation of the AIF it manages. The policies and practices shall be comprehensive and proportionate to the nature, scale and complexity of the AIFM’s activities and to the AIF it manages. The principles set forth in Annex I shall in all cases be complied with. 2. The Commission shall adopt delegated acts in accordance with Articles 49a, 49b and 49c specifying the principles described in Annex I. The CESR shall ensure the existence of guidelines on sound remuneration policies which comply with the principles set out in Annex I. The guidelines shall also take into account the principles on sound remuneration policies set out in the Commission Recommendation of 30 April 2009 on remuneration policies in the financial services sector and shall take into account the size of the AIFM and the size of AIF they manage, their internal organisation and the nature, the scope and the complexity of their activities. The CEBS shall cooperate closely with the CESR in ensuring the existence of guidelines on remuneration policies.
2010/02/15
Committee: ECON
Amendment 661 #

2009/0064(COD)

Proposal for a directive
Article 13 – paragraph 1 - point a
(a) the requirements that need to be met by the originator in order for an AIFM to be allowed to invest in securities or other financial instruments of this type issued after 1 January 2011 on behalf of one or more AIF, including requirements that ensure that the originator retains a net economic interest of not less than 510 per cent;
2010/02/15
Committee: ECON
Amendment 669 #

2009/0064(COD)

Proposal for a directive
Chapter III – Section 2 – Title
CAPTIAL REQUIREMENTLIABILITY RESERVES
2010/02/15
Committee: ECON
Amendment 677 #

2009/0064(COD)

Proposal for a directive
Article 14 – paragraph 2
2. Where the value of the portfolios of AIF managed by the AIFM exceeds EUR 250 million, the AIFM shall provide an additional amount of own funds; that additional amount of own funds shall be equal to 0.02 %a specified percentage of the amount by which the value of the portfolios of the AIFM exceeds EUR 250 million.
2010/02/15
Committee: ECON
Amendment 696 #

2009/0064(COD)

Proposal for a directive
Article 14 – paragraph 4 a (new)
4a. The Commission shall adopt delegated acts laying down the specified percentage, which shall be set between 1 % and 5 % referred to in paragraph 2, in accordance with the risk profile of the AIF, and specifying the assets in which the own funds may be invested. Those acts, designed to amend non- essential elements of this Directive by supplementing it, shall be adopted in accordance with the procedure referred to in Article 290 of the Treaty on the Functioning of the European Union.
2010/02/15
Committee: ECON
Amendment 697 #

2009/0064(COD)

Proposal for a directive
Article 14 – paragraph 4 b (new)
4b. The amount invested by AIFM in each AIF they manage shall be such that, on an annual basis, the AIFM hold a net economic exposure superior or equal to a specified percentage of the total amount invested by all the investors in that AIF.
2010/02/15
Committee: ECON
Amendment 698 #

2009/0064(COD)

Proposal for a directive
Article 14 – paragraph 4 c (new)
4c. The Commission shall adopt delegated acts laying down the requirements in the following areas: (a) the specified percentage to be invested by the AIFM, which shall be set between 1 % and 5 % of the total amount invested by all the investors, in accordance with the risk profile of the AIF; (b) the manner in which the computation is to be made; (c) the process to be followed by the AIFM in order to comply with the above requirements. Those acts, designed to amend to amend non-essential elements of this Directive by supplementing it, shall be adopted in accordance with the procedure referred to in Article 290 of the Treaty on the Functioning of the European Union.
2010/02/15
Committee: ECON
Amendment 699 #

2009/0064(COD)

Proposal for a directive
Article 14 – paragraph 4 d (new)
4d. Own funds shall be invested in liquid assets or assets readily convertible to cash in the short term and shall not include speculative positions.
2010/02/15
Committee: ECON
Amendment 728 #

2009/0064(COD)

Proposal for a directive
Article 16 – paragraph 1 – subparagraph 2
The valuator shall ensure that the assets, shares and units are valued at least once a year, and each time shares or units of the AIF are issued or redeemed or management fees are paid (if such fees are based in whole or in part on the value of the assets) if this is more frequent.
2010/02/15
Committee: ECON
Amendment 760 #

2009/0064(COD)

Proposal for a directive
Article 16 – paragraph 3
3. The standards and rules applicable to the valuation of assets and the calculation of the net asset value per unit or share of the AIF shall be based on generally accepted valuation principles and shall comply with standards and rules laid down in the law of the countryMember State where the AIF is domiciled orand in the AIF rules or instruments of incorporation.
2010/02/15
Committee: ECON
Amendment 778 #

2009/0064(COD)

Proposal for a directive
Article 16 – paragraph 4 – subparagraph 1
4. The Commission shall adopt implementing measuresdelegated acts in accordance with Articles 49a, 49b and 49c further specifying the criteria under which a valuator can be considered independent within the meaning of paragraph 1 and the generally accepted valuation principles to be applied pursuant to paragraph 3.
2010/02/15
Committee: ECON
Amendment 919 #

2009/0064(COD)

Proposal for a directive
Article 17 – paragraph 4
4. Depositaries may delegate their taskfunctions to other depositaries in accordance with Article 18.
2010/02/15
Committee: ECON
Amendment 942 #

2009/0064(COD)

Proposal for a directive
Article 17 – paragraph 5 – subparagraph 2
In case of any loss of financial instruments which the depositary safe-keeps, the depositary can only discharge itself of its liability if it can prove that ithe loss has been caused by an external event, that it was not foreseeable and that the depositary could not have avoided the loss which has occurred.
2010/02/15
Committee: ECON
Amendment 963 #

2009/0064(COD)

Proposal for a directive
Article 17 – paragraph 5 – subparagraph 3
Liability to AIF investors may be invoked either directly or indirectly through the AIFM, depending on the legal nature of the relationship between the depositary, the AIFM and the investors. The depositary's liability shall not be affected by any delegation referred to in paragraph 4.
2010/02/15
Committee: ECON
Amendment 1035 #

2009/0064(COD)

Proposal for a directive
Article 19 – paragraph 2 – point c a (new)
(ca) the information listed in Article 20, to the extent it has changed during the financial year covered by the report.
2010/02/16
Committee: ECON
Amendment 1086 #

2009/0064(COD)

Proposal for a directive
Article 20 – paragraph 1 – point h
(h) a description of all fees, charges and expenses and of the maximum amounts thereof which are directly or indirectly borne by investors, together with, if applicable, a description of fees, charges and expenses paid in the last twelve months;
2010/02/16
Committee: ECON
Amendment 1101 #

2009/0064(COD)

Proposal for a directive
Article 20 – paragraph 1 – point j b (new)
(jb) a description of the past performance of the AIF from its inception to the most recent assessment;
2010/02/16
Committee: ECON
Amendment 1104 #

2009/0064(COD)

Proposal for a directive
Article 20 – paragraph 1 – point j e (new)
(je) information on the identities of the AIFM shareholders or members, whether direct or indirect and whether natural or legal persons, that have qualifying holdings and on the amounts of those holdings;
2010/02/16
Committee: ECON
Amendment 1105 #

2009/0064(COD)

Proposal for a directive
Article 20 – paragraph 1 – point j f (new)
(jf) information on the track record of AIF managed by the AIFM, including performance data on on-going and wound up AIF, and, where the AIFM is a legal person, on the legal representatives, directors and key employees of the AIFM;
2010/02/16
Committee: ECON
Amendment 1106 #

2009/0064(COD)

Proposal for a directive
Article 20 – paragraph 1 – point j g (new)
(jg) a detailed description of the source, maturity and amount of funds raised by the AIF, including the share directly or indirectly contributed by the AIFM managing the AIF and its representatives, directors and employees;
2010/02/16
Committee: ECON
Amendment 1114 #

2009/0064(COD)

Proposal for a directive
Article 20 – paragraph 2 – introductory part
2. For each AIF that an AIFM manages, it shall periodically disclose to investors:
2010/02/16
Committee: ECON
Amendment 1115 #

2009/0064(COD)

Proposal for a directive
Article 20 – paragraph 2 – points a and b
(a) on a periodic basis, the percentage of the AIF's assets which are subject to special arrangements arising from their illiquid nature; (b) on a periodic basis, any new arrangements for managing the liquidity of the AIF;
2010/02/16
Committee: ECON
Amendment 1116 #

2009/0064(COD)

Proposal for a directive
Article 20 – paragraph 2 – point c
(c) the current risk profile of the AIFon a periodic basis, but not less than every month, unless the information has not changed since the last disclosure, the current risk profile of the AIF, including the level of leverage used, and the risk management systems employed by the AIFM to manage these risks.
2010/02/16
Committee: ECON
Amendment 1134 #

2009/0064(COD)

Proposal for a directive
Article 21 – paragraph 1 – subparagraph 2
It shall provide aggregated information on the main instruments in which it is trading, markets of which it is a member or where it actively trades, and on the principal exposures and most important concentrations of each of the AIF it manages.
2010/02/16
Committee: ECON
Amendment 1152 #

2009/0064(COD)

Proposal for a directive
Article 21 – paragraph 2 – point c
(c) the actual risk profile of the AIF, including the level of leverage used, and the risk management tools employed by the AIFM to manage these risks;
2010/02/16
Committee: ECON
Amendment 1155 #

2009/0064(COD)

Proposal for a directive
Article 21 – paragraph 2 – point e a (new)
(ea) the structure of fees and the amounts paid to the AIFM;
2010/02/16
Committee: ECON
Amendment 1156 #

2009/0064(COD)

Proposal for a directive
Article 21 – paragraph 2 – point e b (new)
(eb) the list of investors;
2010/02/16
Committee: ECON
Amendment 1157 #

2009/0064(COD)

Proposal for a directive
Article 21 – paragraph 2 – point e c (new)
(ec) performance data of the AIF, including valuation of assets.
2010/02/16
Committee: ECON
Amendment 1158 #

2009/0064(COD)

Proposal for a directive
Article 21 – paragraph 2 – subparagraph 1 a (new)
In exceptional circumstances and where required in order to ensure the stability and integrity of the financial system, or to promote long term sustainable growth, the competent authorities of the home Member State and the Commission may impose additional reporting requirements.
2010/02/16
Committee: ECON
Amendment 1171 #

2009/0064(COD)

Proposal for a directive
Article 21 – paragraph 3 b (new)
3b. Each competent authority shall periodically disclose aggregate figures to the public on information received pursuant to paragraphs 1 and 2.
2010/02/16
Committee: ECON
Amendment 1178 #

2009/0064(COD)

Proposal for a directive
Article 21 – paragraph 4 – subparagraph 1
4. The Commission shall adopt implementing measuresdelegated acts in accordance with Articles 49a, 49b and 49c further specifying the reporting obligations referred to in paragraphs 1, 2 and 3, which may be adapted and complemented in view of evolving financial techniques, and their frequency.
2010/02/16
Committee: ECON
Amendment 1179 #

2009/0064(COD)

Proposal for a directive
Article 21 – paragraph 4 – subparagraph 2
Those measuree Commission shall also adopt delegated acts regarding the type of information made public pursuant to paragraph 3a. Those acts, designed to amend non- essential elements of this Directive by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 49(3)Articles 49a, 49b and 49c.
2010/02/16
Committee: ECON
Amendment 1202 #

2009/0064(COD)

Proposal for a directive
Article 22 – subparagraph 3
For the purposes of the second subparagraph, an AIF shall be deemed to employ high levels of leverage on a systematic basis where the combined gross leverage from all sources exceeds the value of the equity capital of the AIF in two out of the past four quarters.
2010/03/08
Committee: ECON
Amendment 1212 #

2009/0064(COD)

Proposal for a directive
Article 23 – point b
(b) quarterly disclose to investors the total amount of leverage employed by each AIF in the preceding quarter, the five largest sources of borrowed cash or securities and a break-down between leverage arising from borrowing of cash or securities and leverage embedded in financial derivatives.
2010/03/08
Committee: ECON
Amendment 1243 #

2009/0064(COD)

Proposal for a directive
Article 25 – paragraph 2
2. Home Member States shall ensure that all information received under Article 24, aggregated in respect of all AIFM that it supervises, are is made available to other competent authorities through the procedure set out in Article 46 on supervisory co-operation. It shall, without delay, also provide information through this mechanism, and bilaterally to other Member States directly concerned, if an AIFM under its responsibility could potentially constitute an important source of counterparty risk to a credit institution or other systemically relevant institution in other Member States. The information provided under this paragraph shall be filed at the ESMA. The ESMA shall set up and operate a specific database for the purpose of such filing, which shall be accessible to the competent authorities of all Member States.
2010/03/08
Committee: ECON
Amendment 1254 #

2009/0064(COD)

Proposal for a directive
Article 25 – paragraph 3 – subparagraph 1
3. In order to ensure the stability and integrity of the financial system, the Commission shall adopt implementing measures and to promote long-term sustainable growth of the economy, the Commission shall adopt delegated acts in accordance with Articles 49a, 49b and 49c setting limits to the level of gross leverage AIFM can employ. Those limits shall not exceed five times the value of the equity capital of each AIF, except for specific categories of AIF for which a higher multiple would be permitted on the basis of their business model and to the extent that such multiple does not increase the systemic risk, is compatible with the risk profile of the related type of AIF and is not likely to lead to a disproportionate impact of the related type of AIF on the market on which they operate. These limits should take into account, inter alia, the type of AIF, their strategy and the sources of their leverage. The Commission shall also specify the level of aggregation of the information transmitted pursuant to paragraph 2.
2010/03/08
Committee: ECON
Amendment 1277 #

2009/0064(COD)

Proposal for a directive
Article 25 – paragraph 4
4. In exceptional circumstances and when this is required in order to ensure the stability and integrity of the financial system, or to protect long-term sustainable growth of the economy the competent authorities of the home Member State and the Commission may impose additional limits to the level of leverage that AIFM can employ. Measures taken by the competent authorities of the home Member States shall have a temporary nature and should comply with the provisions adopted by the Commission pursuant to paragraph 3.
2010/03/08
Committee: ECON
Amendment 1285 #

2009/0064(COD)

Proposal for a directive
Chapter V – Section 2 – Title
OBLIGATIONS FOR AIFM MANAGING AIF WHICH ACQUIRE A SIGNIFICANT INTEREST OR A CONTROLLING INFLUENCE IN COMPANIES
2010/03/08
Committee: ECON
Amendment 1290 #

2009/0064(COD)

Proposal for a directive
Article 26 – paragraph 1 – point a
(a) AIFM managing one or more AIF which either individually or in aggregation acquires 310 %, 20 %, 30 % and 50 % or more of the voting rights of an issuer or of a non-listed company domiciled in the CommunityUnion, as appropriate;
2010/03/08
Committee: ECON
Amendment 1295 #

2009/0064(COD)

Proposal for a directive
Article 26 – paragraph 1 – point b
(b) AIFM havacting in concluded an agreemenert with one or more other AIFM which would allow the AIF managed by these AIFM to acquire 3regarding the acquisition or exercise of voting rights by the AIF managed by these AIFM where such AIFM manages one or more AIF which either individually or in aggregation acquires 10 %, 20 %, 30 % and 50 % or more of the voting rights of the issuer or the non-listed company, as appropriate.
2010/03/08
Committee: ECON
Amendment 1302 #

2009/0064(COD)

Proposal for a directive
Article 26 – paragraph 2
2. This section shall not apply where the issuer or the non-listed company concerned are small and medium enterprises that employ fewer than 250 persons, have an annual turnover not exceeding 50 million euro and/or an annual balance sheet not exceeding 43 million euro.deleted
2010/03/08
Committee: ECON
Amendment 1314 #

2009/0064(COD)

Proposal for a directive
Article 27 – title
Notification of the acquisition of controlling influencea significant interest in non-listed companies and issuers
2010/03/08
Committee: ECON
Amendment 1315 #

2009/0064(COD)

Proposal for a directive
Article 27 – paragraph 1
1. Member States shall ensure that whenre an AIFM is in a position to exercise, acting alone or in concert with another AIFM, acquires, through one or several AIF that it manages, 10 %, 20 %, 30 % or more50 % of the voting rights of an issuer or a non-listed company, such AIFM notifiesit shall notify the issuer or the non- listed company, and all other share- holderss appropriate, its employee representatives or, where there are no such representatives, the employees themselves, the competent authority of the AIFM and the competent authority of the Member State where the issuer or the non-listed company is established, the information provided in paragraph 2. This notification shall be made, as soon as possible, but not later than four trading days the first of which being the day on which the AIFM has reachacquired, the positirough one of being able to exercise 3r several AIF that it manages, 10 %, 20 %, 30 % or 50 % of the voting rights.
2010/03/08
Committee: ECON
Amendment 1326 #

2009/0064(COD)

Proposal for a directive
Article 27 – paragraph 2 – point b
(b) the conditions under which the 30 % threshold has been reached, including information about the full identityfication of the different AIFM, AIF and shareholders involved and of persons acting in concert with them, any natural person or legal entity entitled to exercise voting rights on their behalf and, if applicable, the chain of undertakings through which voting rights are effectively held;
2010/03/08
Committee: ECON
Amendment 1328 #

2009/0064(COD)

Proposal for a directive
Article 27 – paragraph 2 – point c a (new)
(ca) the intent of the AIFM regarding the further acquisition of voting rights, the intent to acquire control, the extent of leverage used to finance the acquisition and the planned investment horizon of the acquisition.
2010/03/08
Committee: ECON
Amendment 1329 #

2009/0064(COD)

Proposal for a directive
Article 27 – paragraph 2 a (new)
2a. In the event of a material change to the information notified, the AIFM shall notify the updated information in accordance with the procedure set forth in paragraph 1.
2010/03/08
Committee: ECON
Amendment 1339 #

2009/0064(COD)

Proposal for a directive
Article 28 – paragraph 1 – subparagraph 1
1. In addition to Article 27, Member States shall ensure that where an AIFM, acquirting alone or in concert with other AIFM, comes to hold through one or several AIF it manages 30 % or more of the voting rights of an issuer or a non-listed company or otherwise holds a controlling influence in such AIF, that AIFM maknotifies the information set out in the second and third subparagraphs available to the issuer, the non-listed company, their respective shareholders and representatives of employees or, where there are no such representatives, to the employees themselves, the competent authority of the AIFM and the competent authority of the Member State where the issuer or the non-listed company is established.
2010/03/08
Committee: ECON
Amendment 1347 #

2009/0064(COD)

Proposal for a directive
Article 28 – paragraph 1– subparagraph 2– introductory part
With regard to issuers, the AIFM shall make available the following to the issuer concerned, its shareholders and representatives of employees:out prejudice to Article 6(3) of Directive 2004/25/EC of the European Parliament and of the Council of 21 April 2004 on takeover bids1, the notification required under subparagraph 1 shall contain the following information: 1 OJ L 142, 304.2004, p .12.
2010/03/08
Committee: ECON
Amendment 1352 #

2009/0064(COD)

Proposal for a directive
Article 28 – paragraph 1 – subparagraph 2 – point a
(a) the information referred to in Article 6(3) of Directive 2004/25/EC of the European Parliament and of the Council of 21 April 2004 on takeover bids1AIFM’s intentions with regard to the future business of the issuer or the non-listed company, the safeguarding of the jobs of their employees and management, including any material change in the conditions of employment, and in particular the AIFM’s strategic or development plan and the likely repercussions on employment and the locations of the companies' places of business of such plan;
2010/03/08
Committee: ECON
Amendment 1353 #

2009/0064(COD)

Proposal for a directive
Article 28 – paragraph 1 – subparagraph 2 – point aa (new)
1 OJ L 142, 30.4.2004, p.12.(aa) planned significant divestments of assets; Or. en
2010/03/08
Committee: ECON
Amendment 1363 #

2009/0064(COD)

Proposal for a directive
Article 28 – paragraph 1 – subparagraph 3
With regard to non-listed companies, the AIFM shall make available the following to the non-listed company concerned, its shareholders and representatives of employees: (d) the identity of the AIFM which either individually or in agreement with other AIFM have reached the 30 % threshold; (e) the development plan for the non- listed company; (f) the policy for preventing and managing conflicts of interests, in particular between the AIFM and the non-listed company; (g) the policy for external and internal communication of the issuer or non-listed company, in particular as regards employees.deleted
2010/03/08
Committee: ECON
Amendment 1380 #

2009/0064(COD)

Proposal for a directive
Article 28 – paragraph 1 a (new)
1a. The information of the employee representatives or the employees pursuant to paragraph 1 shall be subject to Council Directive 2001/23/EC of 12 March 2001 on the approximation of the laws of the Member States relating to the safeguarding of employee’s rights in the event of transfers of undertakings, businesses or parts of undertakings or businesses 1. 1 OJ L 82, 22.3.2001, p. 16.
2010/03/08
Committee: ECON
Amendment 1383 #

2009/0064(COD)

Proposal for a directive
Article 28 – paragraph 2 – point a
(a) the detailed content of the information provided under paragraph 1this Article;
2010/03/08
Committee: ECON
Amendment 1397 #

2009/0064(COD)

Proposal for a directive
Article 29 – paragraph 2 – introductory part
2. The AIF annual report shall include the following additional information for each issuer and non listed company in which thean AIF has investedM exercises a controlling influence within the meaning of Article 28 :
2010/03/08
Committee: ECON
Amendment 1399 #

2009/0064(COD)

Proposal for a directive
Article 29 – paragraph 2 – subparagraph 1 - point a
(a) with regard to operational and financial developments, presentation of revenue and earnings by business segment, statement on the progress of company's activities and financial affairs, assessment of expected progress on activities and financial affairs, report on significant events in the financial year, research and development efforts;
2010/03/08
Committee: ECON
Amendment 1403 #

2009/0064(COD)

Proposal for a directive
Article 29 – paragraph 2 – point c
(c) with regard to employee matters, turnover, terminations, recruitment., remuneration policy and other conditions of employment;
2010/03/08
Committee: ECON
Amendment 1404 #

2009/0064(COD)

Proposal for a directive
Article 29 – paragraph 2 – subparagraph 1 - point d
(d) statement on realized, ongoing or planned significant divestment of assets.;
2010/03/08
Committee: ECON
Amendment 1407 #

2009/0064(COD)

Proposal for a directive
Article 29 – paragraph 2 – subparagraph 1 - point da (new)
(da) the environment policy;
2010/03/08
Committee: ECON
Amendment 1408 #

2009/0064(COD)

Proposal for a directive
Article 29 – paragraph 2 – subparagraph 1 - point db (new)
(db) financing of the acquisition, plan for refinancing post acquisition;
2010/03/08
Committee: ECON
Amendment 1409 #

2009/0064(COD)

Proposal for a directive
Article 29 – paragraph 2 – subparagraph 1 - point dc (new)
(dc) management compensation package;
2010/03/08
Committee: ECON
Amendment 1410 #

2009/0064(COD)

Proposal for a directive
Article 29 – paragraph 2 – subparagraph 1 - point dd (new)
(dd) acquisition and resale price;
2010/03/08
Committee: ECON
Amendment 1411 #

2009/0064(COD)

Proposal for a directive
Article 29 – paragraph 2 – subparagraph 1 - point de (new)
(de) material changes to the locations of the issuer’s or private company’s places of business.
2010/03/08
Committee: ECON
Amendment 1413 #

2009/0064(COD)

Proposal for a directive
Article 29 – paragraph 2 – subparagraph 2
In addition, the AIF annual report shall, for each issuer in which it has acquiredan AIFM exercises a controlling influence, contain the information provided for in point within the meaning or Article 28, contain: (a) the composition and operation of the administrative, management and supervisory bodies and their committees; and (fb) of Article 46a(1) of Fourth Council Directive 78/660/EEC of 25 July 1978 based on Article 54 (3) (g) of the Treaty on the annual accounts of certain types of companies2 and an overview of the capital structure as referred to in points (a) and (d) of Article 10(1) of Directive 2004/25/EC. 1 OJ L 222, 14.8.1978, p. 11. 2 OJ L 222, 14.8.1978, p. 11. an overview of the capital structure, including securities which are not admitted to trading on a regulated market in a Member State, where appropriate with an indication of the different classes of shares and, for each class of shares, the rights and obligations attaching to them and the percentage of total share capital that they represent, and detailed information on the holders of any securities with special control rights and a description of those rights.
2010/03/08
Committee: ECON
Amendment 1415 #

2009/0064(COD)

Proposal for a directive
Article 29 – paragraph 2 – subparagraph 3
For each non-listed company in which it has acquiredan AIFM exercises a controlling influence within the meaning of Article 28, the AIF report shall provide an overview of the following management arrangements and the information provided for in points (b), (c) and (e) to (h) of Article 3 of Second Council Directive 77/91/EEC of 13 December 1976 on coordination of safeguards which, for the protection of: (a) the nominal value of the shares subscribed and, at least once a year, the number thereof; (b) the number of shares subscribed without stating the nominal value, where such shares may be issued under national law; (c) where there are several classes of shares, the information under (a) and (b) for each class and the rights attaching to the intesharests of members and others, are required by Member States of companies within the meaning of the second paragraph of Article 58 of the Treaty, in respect of the formation of public limited liability companies and the maintenance and alteration of their capital, with a view to making such safeguards equivalent2. 1 OJ L 26, 31.1.1977, p. 1. 2 OJ L 26, 31.1.1977, p. 1. each class; (d) whether the shares are registered or to the bearer, where national law provides for both types, and any provisions relating to the conversion of such shares unless the procedure is laid down by law; (e) the amount of the subscribed capital paid up at the time the company is incorporated or is authorized to commence business; (f) the nominal value of the shares or, where there is no nominal value, the number of shares issued for a consideration other than in cash, together with the nature of the consideration and the name of the person providing such consideration;
2010/03/08
Committee: ECON
Amendment 1416 #

2009/0064(COD)

Proposal for a directive
Article 29 – paragraph 3
3. The AIFM shall, for each AIF it manages and for which it is subject to this section, provide the information referred to in paragraph 2 above to all representatives of employees of the company concerned referred to in paragraph 1 of Article 26, to the competent authority of the AIFM and to the competent authority of the Member State where the issuer or the non-listed company is established, within the period referred to in Article 19 (1) .
2010/03/08
Committee: ECON
Amendment 1423 #

2009/0064(COD)

Proposal for a directive
Article 29 c (new)
Article 29c Specific provisions regarding value extraction 1. Where an AIFM, which exercises a controlling influence within the meaning of Article 28 on an issuer or a non-listed company, wishes to dispose of company assets in any material respect, the following principles shall be applicable: (a) The legal representatives of both the issuer or non-listed company and the AIF shall issue a statement as to why the disposal is implemented and certifying that the proposed disposal is, to their reasonable knowledge and belief, after due consideration, in the best interest of the issuer or non-listed company. The statement shall be reproduced in the annual report; (b) In the event the proposed sale is connected to a repayment of the acquisition debt, the employee representatives of the issuer or non-listed company shall be informed and consulted; (c) In the event the issuer or non-listed company becomes insolvent as a result of the disposal, the AIFM shall be held liable of any consequence thereof. 2. Where an AIFM exercises a controlling influence within the meaning of Article 28 on an issuer or a non-listed company, the legal representative of the issuer or non-listed company shall be required to issue a statement in the annual report that all capital outflows (including management fees) are in the long term interest of the issuer or non-listed company. 3. The Commission shall adopt delegated acts in accordance with Articles 49a, 49b and 49c specifying the detailed content of the statements to be provided under paragraphs 1 and 2 and the conditions under which the liability of the AIFM may be called pursuant to paragraph 1.
2010/03/08
Committee: ECON
Amendment 1424 #

2009/0064(COD)

Proposal for a directive
Article 29 d (new)
Article 29d Specific provisions regarding the leverage of companies or issuers further to acquisition 1. In addition to the limitations set forth in article 29c, an AIFM exercising a controlling influence within the meaning of Article 28 on an issuer or a non-listed company shall not increase the leverage used by such issuer or company in connection with a distribution paid to the AIF or any subsidiary thereof by more than 20% as compared to the situation before the acquisition if, as a result of such increase, the leverage of such issuer or company exceeds 1.5 times the average of industry leverage applicable to this issuer or company, or the leverage of such issuer or company exceeds three times the value of its equity capital. 2. The Commission shall adopt delegated acts in accordance with Articles 49a, 49b and 49c regarding leverage, distribution, average of industry leverage and process.
2010/03/08
Committee: ECON
Amendment 1425 #

2009/0064(COD)

Proposal for a directive
Article 29 e (new)
Article 29e Specific provisions regarding the lock-in period 1. Where an AIFM exercises a controlling influence within the meaning of Article 28 on an issuer or a non-listed company through an AIF, such issuer or company shall not be entitled to distribute directly or indirectly to such AIF or any subsidiary thereof an amount in excess of 50% of the value of its initial investment regarding such issuer or company before the end of a period expiring either on the fifth anniversary of the completion of the investment or on the sale of its interest in such company or issuer, whichever is earlier. 2. The Commission shall adopt delegated acts in accordance with Articles 49a, 49b and 49c implementing paragraph 1.
2010/03/08
Committee: ECON
Amendment 1448 #

2009/0064(COD)

Proposal for a directive
Article 31 – paragraph 3 – subparagraph 1
3. No later than twenty working days after receipt of a complete notification pursuant to paragraph 2, the competent authorities of the home Member State shall inform the AIFM whether it may start marketing the AIF identified in the notification referred to in paragraph 2.
2010/02/18
Committee: ECON
Amendment 1486 #

2009/0064(COD)

Proposal for a directive
Article 33 – paragraph 2
2. The competent authorities of the home Member State shall, no later than twenty working days after the date of receipt of the complete documentation, transmit the complete documentation referred to in paragraph 1 to the competent authorities of the Member State where the AIF will be marketed. They shall enclose an attestation that the AIFM concerned is authorised. The procedure set forth in Article 5(3) shall apply.
2010/02/18
Committee: ECON
Amendment 1487 #

2009/0064(COD)

Proposal for a directive
Article 33 – paragraph 3
3. Upon transmission of the documentation, the competent authorities of the home Member State shall without delay notify the AIFM about the transmission. The AIFM may start the marketing of AIF in the host Member State as of the date of that notificationNo later than twenty working days after this transmission, and after taking into consideration any objection received from the competent authorities of host Member States, the competent authorities of the home Member State shall inform the AIFM whether it may start marketing as proposed in the notification submitted pursuant to paragraph 1.
2010/02/18
Committee: ECON
Amendment 1491 #

2009/0064(COD)

Proposal for a directive
Article 34 – paragraph 4 – subparagraph 1
4. The competent authorities of the home Member State shall, no later than ten working daywo months after the date of receipt of the complete documentation, transmit the complete documentation referred to in paragraph 2, and where relevant 3, to the competent authorities of the Member State where the management services will be provided and an attestation that they have authorised the AIFM concerned. They shall immediately notify the AIFM about the transmission. The procedure set forth in Article 5(3) shall apply.
2010/02/18
Committee: ECON
Amendment 1493 #

2009/0064(COD)

Proposal for a directive
Article 34 – paragraph 4 – subparagraph 2
Upon receipt ofNo later than twenty working days as from theis transmission notification the AIFM, and after taking into consideration any objection received from the competent authorities of host Member States, the competent authorities of the home Member State shall inform the AIFM whether it may start to provide its services in the host Member State.
2010/02/18
Committee: ECON
Amendment 1496 #

2009/0064(COD)

Proposal for a directive
Article 34 – paragraph 6 a (new)
6a. The competent authorities of the home Member State of the AIFM shall be responsible for supervising the adequacy of the arrangements and organisation of the AIFM so that it is in a position to comply with the obligations and rules which relate to the constitution and functioning of all AIF it manages. The competent authorities of the Member State where the management services will be provided shall be responsible for supervising the compliance of the AIFM with the rules of that Member State which relate to the constitution and functioning of AIF, including arrangements made for marketing. To remedy any breach of rules under their responsibility, the competent authorities of the Member State where the management services will be provided shall be able to rely on the cooperation of the competent authorities of the home Member State of the AIFM. If necessary, as a last resort, and after informing the competent authorities of the home Member State of the AIFM, the competent authorities of the Member State where the management services will be provided may take action directly against the AIFM.
2010/02/18
Committee: ECON
Amendment 1507 #

2009/0064(COD)

Proposal for a directive
Article 35 – paragraph 1
An AIFM may only market shares or units of an AIF domiciled in a third country to professional investors domiciled in a Member State, if the third country has signed anis bound by a multi-lateral agreement with thisall Member State which fully complies with the standards laid down ins signed by the Commission on their behalf, providing for: (a) an effective exchange of information in tax matters, on the basis of Article 26 of the OECD Model Tax Convention, and ensures(b) an effective exchange of information in tax matterswith competent authorities regarding information referred to in Article 5 and Chapters IV and V.
2010/02/18
Committee: ECON
Amendment 1532 #

2009/0064(COD)

Proposal for a directive
Article 36 – point c
(c) there is an appropriate and effective co- operation agreement between the competent authorityies of the AIFM and the supervisory authority of the entityMember States, signed by the Commission acting on their behalf, with the supervisory authority of the entity, in accordance with the standards defined by the Commission in accordance with Article 39b.
2010/02/18
Committee: ECON
Amendment 1541 #

2009/0064(COD)

Proposal for a directive
Article 37 – paragraph 1 – point b a (new)
(ba) there is an appropriate and effective cooperation agreement between the competent authorities of the Member States, signed by the Commission acting on their behalf, with the supervisory authority of the entity, in accordance with the standards defined by the Commission under Article 39a.
2010/02/18
Committee: ECON
Amendment 1549 #

2009/0064(COD)

Proposal for a directive
Article 38 – paragraph 1 – point b
(b) an appropriate and effective co- operation agreement between the hcome Member State and the relevantpetent authorities of the Member States, signed by the Commission acting on their behalf, with the supervisory authoritiesy of the third country is sufficiently ensured;entity, in accordance with the standards defined by the Commission under Article 39a.
2010/02/18
Committee: ECON
Amendment 1571 #

2009/0064(COD)

Proposal for a directive
Article 39 – paragraph 1 – point d
(d) athe competent authority of the third country where the AIFM is established is bound with a multi-lateral cooperation- agreement betweenwith the competent authorities of thate Member State and the supervisor of the AIFM exists whichs where the AIFM intends to market the shares or units of AIF. In accordance with Article 35, that agreement shall ensures an efficient exchange of all information that are relevant for monitoring the potential implications of the activities of the AIFM for the stability of systemically relevant financial institutions and the orderly functioning of markets in which the AIFM is active. as referred to in Article 5 and Chapters IV and V, in accordance with the standards defined by the Commission under Article 39a.
2010/02/18
Committee: ECON
Amendment 1574 #

2009/0064(COD)

Proposal for a directive
Article 39 – paragraph 1 – point e
(e) the third country has signed an agreement with the Commission, acting on behalf of the Member State in which ithe AIFM has appliesd for authorisation which fully complies with, on the basis of the standards laid down in Article 26 of the OECD Model Tax Convention and, ensuresing an effective exchange of information in tax matters, in accordance with the standards defined by the Commission under Article 39a.
2010/02/18
Committee: ECON
Amendment 1592 #

2009/0064(COD)

Proposal for a directive
Article 39 a (new)
Article 39a Application and review of conventions The Commission shall adopt and regularly review the standards applicable to the agreements signed with third countries pursuant to this Chapter. The Commission shall periodically review with Member States the agreements signed with third countries pursuant to this Chapter in order to check whether those third countries effectively comply with such conventions. The Commission shall notify a report on the result of the reviews to the Member Sates, which shall take them into account when assessing whether authorisations issued or to be issued under this Directive should be granted, suspended or withdrawn. The Commission shall, in accordance with Articles 49a, 49b and 49c, adopt delegated acts in order to specify the procedure to be followed for the adoption and review of the standards, the compliance reviews and the conditions for ensuring effective cooperation, and the consequences of the report on authorisations.
2010/02/18
Committee: ECON
Amendment 1600 #

2009/0064(COD)

Proposal for a directive
Article 41 – paragraph 2 – introductory part
2. The competent authorities shall have at least the following powers of investigation: , which shall be exercisable at any time: Or. en Justification
2010/02/18
Committee: ECON
Amendment 1604 #

2009/0064(COD)

Proposal for a directive
Article 42 – paragraph 1 – introductory part
1. The home Member State shall ensure that the competent authorities may takeshall have at least the following measurepowers:
2010/02/18
Committee: ECON
Amendment 1612 #

2009/0064(COD)

Proposal for a directive
Article 46 – title
Exchange of information relating to the potential systemic consequences of AIFM activity
2010/02/18
Committee: ECON
Amendment 1617 #

2009/0064(COD)

Proposal for a directive
Article 46 – paragraph 2 a (new)
2a. All information received by competent authorities and relating to AIFM shall be communicated, upon request, to the Commission, which shall periodically issue statistical reports in relation thereto.
2010/02/18
Committee: ECON
Amendment 1618 #

2009/0064(COD)

Proposal for a directive
Article 46 – paragraph 3
3. The Commission shall adopt implementing measures specifying the modalities, content and frequency of the information to be exchanged pursuant to paragraph 1 and communicated to the Commission pursuant to paragraph 1.
2010/02/18
Committee: ECON
Amendment 1627 #

2009/0064(COD)

Proposal for a directive
Article 48 – paragraph 2
2. In case of disagreement between competent authorities on an assessment, action or omission of one of the competent authorities concerned under this Directive, competent authorities shall refer the matter to the CESR, where discussion will take place in order to reach a rapid and effective solution. The competent authorities shall duly consider the advice of thebe bound by the ruling of CESR.
2010/02/18
Committee: ECON
Amendment 1635 #

2009/0064(COD)

Proposal for a directive – amending act
Article 50 – paragraph 1
Two years after the date referred to in Article 54, the Commission shall, by ...*, on the basis of public consultation, taking into account national tax regimes, and in the light of the discussions with competent authorities, review the application and the scope of this Directive. This review shall also take due account of developments at international level and discussions with third countries and international organisations. * OJ please3 insert date: two years after the date referred to in Article 54,
2010/02/18
Committee: ECON
Amendment 1637 #

2009/0064(COD)

Proposal for a directive – amending act
Article 50 – paragraph 2 a (new)
Before reviewing the application and the scope of this Directive, the Commission shall put forward proposals for amendments to Directives 2006/48/EC and 2006/49/EC to ensure an appropriate level of capital requirements for those financial institutions involved in business with AIF, taking into account the risk incurred, financial stability at large and potential conflicts of interest.
2010/02/18
Committee: ECON
Amendment 1659 #

2009/0064(COD)

Proposal for a directive – amending act
Article 53 a (new)Directive 2003/6/EC

Article 1 – paragraph 1 – points 7 a and 7 b (new) and Article 5 a (new)
Article 53a Amendment of Directive 2003/6/EC Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse) shall be amended as follows: 1. the following points are added to the first subparagraph of Article 1: "7a. 'Short sale' shall mean the sale of a security that the seller does not own and any sale that is completed by the delivery of a security borrowed by, or for the account of, the seller. 7b. 'Naked short sale' shall mean the short sale of a security when the seller has not borrowed or entered into an agreement to borrow before or at the time of submitting the short sale order, the security it is due to deliver to the purchaser."; 2. the following article shall be inserted: "Article 5a In order to regulate short sales and prohibit naked short sales of equity securities, including securities giving access to the shares of an issuer, the Commission shall adopt delegated acts laying down the requirements in the following areas: (a) the compulsory reporting of short sales, by market participants to competent authorities of the home Member State, of the most relevant market in terms of liquidity and of the State of incorporation of the issuer, when certain shareholding thresholds are crossed, and public disclosure of such reporting when certain shareholding thresholds are crossed; (b) the marking of orders by financial intermediaries so as to distinguish short sales from other sales; (c) the production of documentation by market participants showing that, before entering into a short sale or committing to do so, they have previously borrowed the shares or entered into an agreement to do so; (d) the requirement that market participants deliver shares they have sold no later than three days after the trade date and buy in the sold shares in the event of failure to deliver within that time period; (e) the provision of appropriate powers to competent authorities in order to sanction failures to comply with points (a) to (d); (f) the provision of appropriate powers to competent authorities exceptionally to prohibit the establishment of or increase in a net short position in an equity security whose price has fallen significantly; (g) the requirement that competent authorities hold consultations through the European Securities Markets Authority before exceptionally prohibiting the establishment of or increase in a net short position in equity securities on a particular market segment or across all markets in the event of a significant market decline.".
2010/02/18
Committee: ECON
Amendment 1668 #

2009/0064(COD)

Proposal for a directive – amending act
Annex I a (new)
ANNEX Ia REMUNERATION POLICIES 1. When establishing and applying the remuneration policies for those categories of staff, including senior management, whose professional activities have a material impact on their risk profile or the risk profiles of AIF they manage, AIFM shall comply with the following principles: (a) the remuneration policy is consistent with and promotes sound and effective risk management and does not encourage risk-taking which is inconsistent with the risk profiles, fund rules or instruments of incorporation of the AIF it manages; (b) the remuneration policy is in line with the business strategy, objectives, values and interests of the AIFM and the AIF it manages or the investors of the AIF, and includes measures to avoid conflicts of interest; (c) the management body in its supervisory function of the AIFM adopts and periodically reviews the general principles of the remuneration policy and is responsible for its implementation; (d) the implementation of the remuneration policy is, at least annually, subject to central and independent internal review for compliance with policies and procedures for remuneration adopted by the management body in its supervisory function; (e) staff members engaged in risk management are compensated in accordance with the achievement of the objectives linked to their functions, independent of the performance of the business areas they control; (f) where remuneration is performance related, the total amount of remuneration is based on a reasonable combination of the assessment of the performance of the individual and of the business unit or AIF concerned and of the overall results of the AIFM, and when assessing individual performance, financial as well as non- financial criteria are reasonably taken into account; (g) the assessment of performance is set in a multi-year framework appropriate to the life-cycle of the AIF managed by the AIFM in order to ensure that the assessment process is based on longer term performance and that the actual payment of performance-based components of remuneration is spread over a period which takes account of the redemption policy of the AIF it manages and their investment risks; (h) guaranteed variable remuneration is exceptional and occurs only in the context of hiring new staff and is limited to the first year; (i) fixed and variable components of total remuneration are appropriately balanced; the fixed component represents a sufficiently high proportion of the total remuneration to allow the operation of a fully flexible policy on variable remuneration components, including the possibility to pay no variable remuneration component; (j) payments related to the early termination of a contract reflect performance achieved over time and are designed in a way that does not reward failure; (k) the measurement of performance used to calculate variable remuneration components or pools of variable remuneration components includes a comprehensive adjustment mechanism to integrate all relevant types of current and future risks; (l) when a risk is revealed which, if known at the time when a variable remuneration was paid, would have been taken into consideration in the determination of this remuneration, a portion, which is at least 20 %, of this variable remuneration may be clawed back (through repayment request) by the AIFM for adjustment purposes, but only to the extent the mechanism provided under point (m) is not sufficient to proceed with this adjustment; this claw back mechanism shall be applicable for a period which is appropriate in view of the risks taken into account when the remuneration was paid but which shall not be less than four years; (m) a substantial portion, which is at least 50 % of the variable remuneration component, is deferred over a period which is appropriate in view of the life cycle and redemption policy of the AIF concerned and is correctly aligned with the nature of the risks of the AIF in question, but which shall not be less than four years; remuneration payable under deferral arrangements vests no faster than on a pro-rata basis; in the case of a variable remuneration component of a particularly high amount, at least 60 % of the amount is deferred; (n) the variable remuneration, including the deferred portion, is paid or vests only if it is sustainable according to the financial situation of the AIFM as a whole, and justified according to the performance of the business unit, the AIF and the individual concerned; the total variable remuneration is generally considerably contracted where subdued or negative financial performance of the AIFM or of the AIF concerned occurs; (o) staff members are required to undertake not to use personal hedging strategies or remuneration- and liability- related insurance to undermine the risk alignment effects embedded in their remuneration arrangements. 2. The principles set out in point 1 shall apply both to the remuneration paid by the AIFM and to the remuneration paid by the AIF itself (carried interest). Point 1 shall apply to returns to employees from their investments in AIF managed by the AIFM and to remuneration paid in connection with the liquidation of an AIF. Point 1(m) shall not apply in respect of variable remuneration linked directly to fees earned by the AIFM which cannot be clawed back. 3. AIFM that are significant in terms of their size or the size of the AIF they manage, their internal organisation and the nature, the scope and the complexity of their activities shall establish a remuneration committee. The remuneration committee shall be constituted in a way that enables it to exercise competent and independent judgment on remuneration policies and practices and the incentives created for managing risk. The remuneration committee shall be responsible for the preparation of decisions regarding remuneration, including those which have implications for the risk and risk management of the AIFM or the AIF concerned and which are to be taken by the management body in its supervisory function. The remuneration committee shall be chaired by a member of the management body who does not perform any executive functions in the AIFM concerned.
2010/02/18
Committee: ECON
Amendment 6 #

2008/2156(INI)

Motion for a resolution
Recital E
E. whereas euro area membership implies a high degree of economic interdependence between the Member States involved and therefore requires closer coordination of economic and financial policies in order to reap the full benefit of the single currency and to face future challenges, such as increased competition for natural resources, global economic imbalances, climate change and the ageing of the population in Europe,
2008/09/03
Committee: ECON
Amendment 19 #

2008/2156(INI)

Motion for a resolution
Recital I a (new)
Ia. whereas the European Union is facing an economic downturn with growth rates declining from 3,1 % in 2006 to a forecast 2 % in 2008 and 1,8 % in 2009, while unemployment and social exclusion remain persistent problems,
2008/09/03
Committee: ECON
Amendment 38 #

2008/2156(INI)

Motion for a resolution
Paragraph 9
9. Notes that the revised Stability and Growth Pact (SGP) has proven its value and that a strong consolidation of budgets has to be adhered to, as demographic change and possible decline in economic growth could lead to budgetary problems in euro area Member States, which could have negative effects on the stability of the euro area as a whole; criticises in this context the lack of discipline in combating budgetary deficits in times of economic growth and stresses that Member States must effectively extend the scope for an anti-cyclical fiscal policy, especially in order to be better prepared for external shocks; aund demanderlines, therefore, a long- term strategy to reducethe need for sustainable and sound growth strategies, which will allow for a reduction of national debts to a maximum of 60 % in the long term;
2008/09/03
Committee: ECON
Amendment 42 #

2008/2156(INI)

Motion for a resolution
Paragraph 10
10. Notes that the main elements of the SGP must also be consistently adhered to in the future, since both the criterion of 3 % and that of a maximum national debt of 60 % were specified on the basis of the economic conditions in the 1990s, and lower growth rates would necessitate substantially stricter criteria; is of the opinion that the SGP must be adhered to strictly by the Member States and supervised by the Commission; notes that an effective coordination of economic and financial policy is desirable withina precondition for the economic success of the EMU, although it should respect the principle of subsidiarity; stresses that existing supervisory instruments must be used better by the Commission and that the medium-term examination of national budgets by the Eurogroup has to be strengthened;
2008/09/03
Committee: ECON
Amendment 53 #

2008/2156(INI)

Motion for a resolution
Paragraph 13 a (new)
13a. Stresses the need for fair rules for the internal market; considers, therefore, that the race to the lowest corporate tax rates is counter productive and calls for the introduction of a common consolidated corporate tax base;
2008/09/03
Committee: ECON
Amendment 60 #

2008/2156(INI)

Motion for a resolution
Paragraph 16
16. Recalls its strong commitment to the independence of the ECB, while fulfilling its Treaty obligations, to maintain price stability and to support the general economic policies in the Community;
2008/09/03
Committee: ECON
Amendment 72 #

2008/2156(INI)

Motion for a resolution
Paragraph 19
19. Notes that the primary objective of the ECB’s monetary policy is to maintain price stability, and that the ECB aims at inflation rates of below, but close to, 2 % over the medium term; considers that this definition of price stability should be examined in the context of a new age of globalisation characterised by rising energy and food prices; recalls that the EC Treaty also assigned to the ECB the task of supporting the general economic policies of the Community;
2008/09/03
Committee: ECON
Amendment 7 #

2008/2155(INI)

Motion for a resolution
Recital C
C. whereas the EBRD was established in 1991 and its shareholders being 61 countries around the world, the CommissionEuropean Community and the EIB subscribing together a capital of EUR 20 billion,
2009/01/15
Committee: ECON
Amendment 8 #

2008/2155(INI)

Motion for a resolution
Recital D
D. whereas the Member States, the CommissionEuropean Community and the EIB together make up 63 % of the share- ownership of the EBRD,
2009/01/15
Committee: ECON
Amendment 40 #

2008/2155(INI)

Motion for a resolution
Title (new) (before the title "The objectives and operations of EBRD")
Supervision of the EIB
2009/01/15
Committee: ECON
Amendment 41 #

2008/2155(INI)

Motion for a resolution
Paragraph 3 f (new) (after the new heading)
3f. Recalls that the tasks of the EIB are defined politically, which can lead to high concentrations in individual sectors or regions and to deliberation assumption of risk in innovative sectors; notes that, like all institutions which provide funding, the EIB is therefore not subject to the customary supervision;
2009/01/15
Committee: ECON
Amendment 42 #

2008/2155(INI)

Motion for a resolution
Paragraph 3 g (new)
1 Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (OJ L 177, 30.6.2006, p. 1). 2 Directive 2006/49/EC of the European Parliament and of the Council of 14 June 2006 on the capital adequacy of investment firms and credit institutions (OJ L 177, 30.6.2006, p. 201).3g. Considers that supervision of the EIB's working methods is nonetheless necessary in order to ensure correct application of Directive 2006/48/EC1 and Directive 2006/49/EC2 (the Basel II Directives); considers, however, that this supervision should not entail the imposition on the EIB of any conditions relating to reducing concentrations, such as are customary in the case of commercial financial institutions; Or. de
2009/01/15
Committee: ECON
Amendment 43 #

2008/2155(INI)

Motion for a resolution
Paragraph 3 h (new)
3h. Welcomes the technical cooperation between the EIB and the national supervisory authority in Luxembourg; proposes that this cooperation be expanded and the EIB's Audit Committee reinforced in such a way as to supplement the three members and three observers in the Committee with two members employed by national supervisory authorities;
2009/01/15
Committee: ECON
Amendment 51 #

2008/2155(INI)

Motion for a resolution
Paragraph 11 – point c
(c) a definition be adopted of types of projects, sectors and products that are of potential interest to both banks and where they could enhance common pools of knowledge and resources, such as SME financing, and enhancing investments to combat climate change, e.g. in renewable energy sources and diminishing green house gas emissions; in those areas of common interest, requests a pragmatic and case-by-case approach, with a lead institution on each project of co- financing, with the objective of avoiding duplication, and on the basis of a pre- requisite of mutual recognition of procedures; considers, however, that in this context it is necessary to ensure that projects which receive funding accord with EU standards, for example with regard to combating climate change or respecting social rights, irrespective of which of the two institutions is the lead institution;
2009/01/15
Committee: ECON
Amendment 58 #

2008/2155(INI)

Motion for a resolution
Paragraph 12
12. Is of the opinion that any proliferation of the European Union'sCalls for a coherent approach with regard to the use of the external assistance instruments should be avoided; calls forof the EU as well as enhanced cooperation with regional and national development institutions in the European Union/agencies, in order to avoid overlaps and duplications and to ensure better visibility of the EU impact; supports the possibility of mutual delegation and recognition of procedures in this respect;
2009/01/15
Committee: ECON
Amendment 65 #

2008/2155(INI)

Motion for a resolution
Paragraph 14
14. Notes with satisfaction that those banks and institutions have a positive impact on the developing world; suggests that the financing of land ownership shcould be an eligible investment cost, under conditions related to environmental and social objectives, under the EIB mandate, as it is key for endogenous development, especially in African countries.
2009/01/15
Committee: ECON
Amendment 66 #

2008/2155(INI)

Motion for a resolution
Paragraph 15
15. Welcomes the Council decimportant role which the Commission to enhance the EIBEuropean Recovery plan has assigned to the EIB, especially with regard to the enhanced financing of SMEs in the Member States; calls on the Member States to increase the capital basis of the EIB accordingly;
2009/01/15
Committee: ECON
Amendment 74 #

2008/2155(INI)

Motion for a resolution
Paragraph 16
16. Underlines that in the current period of tight credit conditions the role of the two banks is highlighted both inside and outside the European Union, for example in Russia, where after years of domestic liquidity, the private banking sector is squeezed; calls on both banks to keep their commitments with regard to third countries also in economic difficult times;
2009/01/15
Committee: ECON
Amendment 76 #

2008/2155(INI)

Motion for a resolution
Paragraph 17
17. Suggests, that depending onPoints out, that considering the magnitude of the effects of the financial crisis on the real economy, the EIB should beis rightly invited to enhance its support to the newose Member States and that a review of the definition of the "transition" countries and an evaluation of the need of the EBRD to delay its withdrawal from those Member States should be undertakens well as those sectors and branches which were most severely affected, and especially with regard to innovative investment fields;
2009/01/15
Committee: ECON
Amendment 78 #

2008/2155(INI)

Motion for a resolution
Paragraph 17 a (new)
17a. Suggests that a review of the definition of the "transition" countries and an evaluation of the progress concerning the withdrawal of the EBRD from the Member States should be carried out; welcomes in the light of the crisis the intended increase of activities of the EBRD in the banking sector;
2009/01/15
Committee: ECON
Amendment 81 #

2008/2155(INI)

Motion for a resolution
Paragraph 18 a (new)
18a. Calls strongly on the Commission and the EIB to jointly investigate how the credit crunch in the real economy can be overcome with the help of new innovative financial instruments; stresses the need to urgently launch new EIB funds for energy, climate change, infrastructure and active labour market measures in order to fund equity and quasi-equity projects;
2009/01/15
Committee: ECON
Amendment 83 #

2008/2155(INI)

Motion for a resolution
Paragraph 18 b (new)
18b. Calls on the Member States, the Commission and the EIB to reflect on the most relevant framework to develop new financial instruments, such as Eurobonds, in order to raise fresh capital for the financing of major European political priorities;
2009/01/15
Committee: ECON
Amendment 87 #

2008/2155(INI)

Motion for a resolution
Paragraph 20
20. Recommends the rapid establishmentconclusion of an inter-institutional agroupeement between the Parliament, the Council and the Commission to discuss how to proceed on the way forward after the judgment without endangering the continuity of the external financial operations of the EIB; recommends that the EIB take part in those discussions as an observer;
2009/01/15
Committee: ECON
Amendment 88 #

2008/2155(INI)

Motion for a resolution
Paragraph 20 a (new)
20a. Calls on the Commission to put forward without delay a proposal for Decision on guarantees for financial operations in developing countries and other third countries so as to ensure prompt approval and timely enforcement; considers this proposal should only renew the current mandate for 12 months; ensures its commitment to proceed as fast as needed in terms of legislative procedure;
2009/01/15
Committee: ECON
Amendment 89 #

2008/2155(INI)

Motion for a resolution
Paragraph 20 b (new)
20b. Invites the Commission to fully take into consideration the recommendations expressed in this report when drafting a new proposal for Decision to be enforced from 2010 onwards;
2009/01/15
Committee: ECON
Amendment 25 #

2008/0414(COD)

Proposal for a directive
Article 5 – paragraph 2 – point b
(b) The members of the special negotiating body shall be elected or appointed in proportion to the number of employees in each Member State by the Community- scale undertaking or Community-scale group of undertakings, by allocating in respect of each Member State in which at least 50 employees are employed one seat per portion of employees employed in that Member State amounting to 10%, or a fraction thereof, of the number of employees employed in all the Member States taken together;
2008/10/30
Committee: EMPL
Amendment 31 #

2008/0414(COD)

Proposal for a directive
Article 7 – paragraph 1 – indent 3
– where, after threeone and a half years from the date of this request, they are unable to conclude an agreement as laid down in Article 6 and the special negotiating body has not taken the decision provided for in Article 5(5).
2008/10/30
Committee: EMPL
Amendment 37 #

2008/0414(COD)

Proposal for a directive
Article 11 – paragraph 2
2. Member States shall provide for appropriate measureseffective measures designed to guarantee compliance with the Directive in the event of failure to comply with this Directive; in particular, they shall ensure that adequate administrative or judicial procedures are available to enable the obligations deriving from this Directive to be enforced.
2008/10/30
Committee: EMPL
Amendment 46 #

2008/0414(COD)

Proposal for a directive
Annex I – point 1 – point a – paragraph 2
The information and consultation of the European Works Council shall relate in particular to the structure, economic and financial situation, probable development and production and sales of the Community-scale undertaking or group of undertakings. The information and consultation of the European Works Council shall relate in particular to the situation and probable trend of employment, investments, and substantial changes concerning organisation, introduction of new working methods or production processes, transfers of production, mergers, cut-backs or closures of undertakings, establishments or important parts thereof, and collective redundancies.
2008/10/30
Committee: EMPL
Amendment 48 #

2008/0414(COD)

Proposal for a directive
Annex I – point 1 – point c
(c) The members of the European Works Council shall be elected or appointed in proportion to the number of employees in each Member State by the Community- scale undertaking or Community-scale group of undertakings, by allocating in respect of each Member State in which at least 50 employees are employed one seat per portion of employees employed in that Member State amounting to 10%, or a fraction thereof, of the number of employees employed in all the Member States taken together;
2008/10/30
Committee: EMPL
Amendment 51 #

2008/0414(COD)

Proposal for a directive
Annex I – point 2
2. The European Works Council shall have the right to meet with the central management once a year, to be informed and consulted, on the basis of a report drawn up by the central management, on the progress of the business of the Community-scale undertaking or Community-scale group of undertakings and its prospects. The local managements shall be informed accordingly. Before and after any meeting with the central management, the European Works Council shall be entitled to meet, using the necessary means for communication, without representatives of the central management being present.
2008/10/30
Committee: EMPL
Amendment 52 #

2008/0414(COD)

Proposal for a directive
Annex I – point 2
2. The European Works Council shall have the right to meet with the central management onat least twice a year, to be informed and consulted, on the basis of a report drawn up by the central management, on the progress of the business of the Community-scale undertaking or Community-scale group of undertakings and its prospects. The local managements shall be informed accordingly.
2008/10/30
Committee: EMPL
Amendment 247 #

2008/0217(COD)

Proposal for a regulation
Article 4 – paragraph 2 a (new)
A credit rating endorsed under paragraph 2b shall be considered to be a credit rating issued by a credit rating agency established in the Community and registered in accordance with this Regulation. A credit rating agency established in the Community and registered in accordance with this Regulation shall not use the endorsement with the intention of avoiding the requirements of this Regulation.
2009/02/18
Committee: ECON
Amendment 251 #

2008/0217(COD)

Proposal for a regulation
Article 4 – paragraph 2 b (new)
Credit rating agencies established in the Community and registered in accordance with this Regulation shall endorse a credit rating issued in third countries only where credit rating activities resulting in the issuance of such a credit rating comply entirely with the following conditions: (a) credit rating activities resulting in the issuance of the credit rating to be endorsed are undertaken wholly or partly by the endorsing credit rating agency or by credit rating agencies belonging to the same group; (b) the credit rating agency has verified and is able to demonstrate to its competent authority that the conduct of credit rating activities by the third-country credit rating agency resulting in the issuance of the credit rating to be endorsed fulfils the requirements set out in Articles 5 to 11; (c) the ability of the CESR to monitor the compliance of the credit rating agency established in the third country with the requirements referred to in point b is not limited; (d) the credit rating agency makes available to its competent authority, on request, all information necessary to enable the competent authority to supervise, on an ongoing basis, compliance with this Regulation; (e) there is an objective reason for the credit rating to be elaborated in a third country; (f) the supervisory authorities in the third country do not interfere with the content of credit ratings; and (g) where there is a competent authority in the third country, there is an appropriate cooperation arrangement between the CESR and that competent authority. The CESR shall ensure that the cooperation arrangements referred to in point g shall specify, at least: (a) the mechanism for the exchange of information between the competent authorities concerned; and (b) procedures concerning the coordination of supervisory activities in order to CESR to monitor credit rating activities resulting in the issuance of the endorsed credit rating on an ongoing basis.
2009/02/18
Committee: ECON
Amendment 256 #

2008/0217(COD)

Proposal for a regulation
Article 4 – paragraph 2 c (new)
Credit rating agencies that endorse credit ratings issued in third countries in accordance with paragraph 2b shall remain fully responsible for such credit ratings and for the fulfilment of the conditions set out in paragraph 2b.
2009/02/18
Committee: ECON
Amendment 22 #

2008/0215(CNS)

Proposal for a directive – amending act
Article 1 – point 2 – point b a (new)
Directive 2003/48/EC
Article 2 – paragraph 4 (new)
ba) The following paragraph 4 is added: “4. If an insurance contract makes provision for individual asset management for the contributions made on an account or securities account with a credit institution, the policy holder shall be considered as the beneficial owner of the revenue credited to the account or securities account under the terms of Article 6.”
2009/02/19
Committee: ECON
Amendment 23 #

2008/0215(CNS)

Proposal for a directive – amending act
Article 1 – point 2 – point b b (new)
Directive 2003/48/EC
Article 2– paragraph 5 (new)
bb) The following paragraph 5 is added: “5. For the purposes of this Directive, the settlor of a trust is considered the beneficial owner of the revenue paid to the trust under the terms of Article 6, provided the trust is in the country in which the settlor is resident, is recognised as non-profit making or is taxable there at a nominal minimum 15%.”
2009/02/19
Committee: ECON
Amendment 24 #

2008/0215(CNS)

Proposal for a directive – amending act
Article 1 – point 2 – point b c (new)
Directive 2003/48/EC
Article 2 – paragraph 6 (new)
bc) The following paragraph 6 is added: “6. For the purposes of this Directive, the founder of a private non-profit foundation is considered the beneficial owner of the revenue paid to the foundation under the terms of Article 6.”
2009/02/19
Committee: ECON
Amendment 25 #

2008/0215(CNS)

Proposal for a directive – amending act
Article 1 – point 2 – point b d (new)
Directive 2003/48/EC
Article 2 – paragraph 7 (new)
bd) The following paragraph 7 is added: “7. For the purposes of this Directive, the member is considered the beneficial owner of the revenue paid to a capital company under the terms of Article 6 up to his/her share of the nominal capital, if the revenue of the capital company in the country in which it is based is taxed at a nominal rate of under 15%.”
2009/02/19
Committee: ECON
Amendment 26 #

2008/0215(CNS)

Proposal for a directive – amending act
Article 1 – point 2 – point b e (new)
Directive 2003/48/EC
Article 2 – paragraph 8 (new)
be) The following paragraph 8 is added: “8. For the purposes of this Directive, the founder or creator of other legal entities is considered the beneficial owner of the revenue paid to the company under the terms of Article, provided the other legal entity is recognised as non-profit making in the country in which it is established or is taxable there at a nominal minimum 15%.”
2009/02/19
Committee: ECON
Amendment 32 #

2008/0215(CNS)

Proposal for a directive – amending act
Article 1 – point 4
Directive 2003/48/EC
Article 6 – paragraph 1 – point aa
aa) any income paid, or credited to an account, relating to securities of any kind under which the investor receives: i) a return on capital whose conditions are defined at the issuing date, and ii) at the end of their term, at least 95% of the capital investedincome from any form of other capital debt claims, if repayment of the capital or a charge for the transfer of assets for use has been pledged or granted, even if the amount of the repayment or charge is dependent on uncertain factors; this shall apply regardless of the designation of the investment and its civil law form; the difference between the purchase price and the revenue from the sale, refund or redemption of the capital debt claims referred to in (a);
2009/02/19
Committee: ECON
Amendment 33 #

2008/0215(CNS)

Proposal for a directive – amending act
Article 1 – point 4
Directive 2003/48/EC
Article 6 – paragraph 1 – point e
e) benefits from a life insurance contract where the contract provides for a biometric risk coverage which, expressed as an average over the duration of the contract, is lower than 5 % of the capital insured and its actual performance is fully linked to interest or income of the kinds referred to in points (a), (aa), (b), (c) and (d); for this purpose any difference between the amounts paid out pursuant to a life insurancthe difference between the insurance benefit and the sum of the contributions paid for this in the event of survival or redeeming the contract andin the sum of all the payments made to the life insurer under the same life insurance contract shall be considered benefits from life insurance contracts.case of endowment life insurance and retirement insurance, where no lifelong pension is paid;
2009/02/19
Committee: ECON
Amendment 36 #

2008/0215(CNS)

Proposal for a directive – amending act
Article 1 – point 4
Directive 2003/48/EC
Article 6 – paragraph 1 – point e a (new)
(ea) income from structured products. Structured products are bonds where the level of repayment obligations depends on developments in some form of agreed base value. The difference in the amount between the purchase cost and the revenue from the sale, refund or redemption of the structured product is also considered as income;
2009/02/19
Committee: ECON
Amendment 37 #

2008/0215(CNS)

Proposal for a directive – amending act
Article 1 – point 4
Directive 2003/48/EC
Article 6 – paragraph 1 – point e b (new)
(eb) dividends received by a credit institution or financial institution on behalf of the beneficial owner.
2009/02/19
Committee: ECON
Amendment 35 #

2008/0191(COD)

Proposal for a directive – amending act
Recital 7
(7) Competent authorities should be able to participate in colleges established for the supervision of credit institutions the parent institution of which is situated in a third country. The Committee of European Banking Supervisors should provide, where necessary, for non-binding guidelines and recommendations in order to enhance the convergence of supervisory practices pursuant to Directive 2006/48/EC. In order to avoid inconsistencies and regulatory arbitrage, which could result from differences in the approaches and rules applied by the various colleges and application of discretion by Member States, guidelines on the proceedings of rules governing colleges should be developed by the Committee of European Banking Supervisors.
2009/01/19
Committee: ECON
Amendment 41 #

2008/0191(COD)

Proposal for a directive – amending act
Recital 8 a (new)
(8a) Cooperation between supervisory authorities, dealing with groups and holdings and their subsidiaries and branches, in colleges is a phase in a development towards further regulatory convergence and supervisory integration. Trust between supervisors and respect for their respective responsibilities is essential. In the event of a conflict between members of a college linked to those different responsibilities, neutral and independent advice, mediation and conflict resolving mechanisms at Community level are essential. If voluntary and non-binding mediation mechanisms are complemented or replaced by binding mechanisms in the future, these should be applicable to the procedures in this Directive.
2009/01/19
Committee: ECON
Amendment 55 #

2008/0191(COD)

Proposal for a directive – amending act
Recital 19 a (new)
(19a) The crisis has underlined a need to examine how regulation and supervision of financial services should take into account the business cycle. In particular, the benefits associated with building up capital and provisioning anti-cyclically have become clear. The national supervisory authorities should take this into account; in addition, the Commission should consider whether banks need to build strong capital buffers and provisions through-the-cycle that can be used during a downturn. The crisis has also called into question the assumptions concerning correlations that underlie the methodology for calculating regulatory capital. A related concern is whether geographic, sector and similar concentration risks are adequately dealt with. Therefore, by 31 January 2010, the Commission should review this Directive as whole to address these issues (and, especially, the effects on the economic cycle, taking into account how valuation, leverage, bank capital and provisioning may exacerbate cyclical trends, and to promote through-the-cycle provisioning). By 31 January 2010, the Commission should present a report to the European Parliament and the Council and any appropriate proposals.
2009/01/19
Committee: ECON
Amendment 145 #

2008/0191(COD)

Proposal for a directive – amending act
Article 1 – point 27
Directive 2006/48/EC
Article 122a – paragraph 1 – after point b
have issued an explicit commitment to the credit institution to maintain, on an ongoing basis, a material net economic interest and in any event not less than 520 per cent in positions having the same risk profile as the one that the credit institution is exposed to.
2009/01/19
Committee: ECON
Amendment 269 #

2008/0191(COD)

Proposal for a directive – amending act
Article 1 – point 33
Directive 2006/48/EC
Article 154 – paragraph 9 a (new)
9a. For exposures incurred by 30 September 2008 by credit institutions that according to national law apply a weighting of 20% to asset items constituting claims on and other exposures to institutions with a maturity of more than one but not more than three years and a weighting of 50% to asset items constituting claims on institutions with a maturity of more than three years, provided that the latter are represented by debt instruments that were issued by an institution, or assign a weighting of 20% to asset items constituting claims on and other exposures to institutions regardless of their maturity may continue to assign these weightings until 31 December 2015.
2009/01/19
Committee: ECON
Amendment 274 #

2008/0191(COD)

Proposal for a directive – amending act
Article 1 – point 33 a (new)
Directive 2006/48/EC
Article 156 – paragraph -1 (new)
(33a) In Article 156, the following paragraph -1 is inserted: "In framing capital and provisioning requirements Member States shall take markedly greater account than hitherto of the requirements of the economic cycle. By 31 January 2010, the Commission shall review how this Directive as a whole can take the economic cycle into account better, in particular with a view to how valuation, leverage, bank capital and provisioning can strengthen desirable cyclical trends and promote through-the- cycle provisioning. The Commission shall, by 31 January 2010, submit firm proposals on a more strongly anti-cyclical orientation for capital requirements and provisioning."
2009/01/19
Committee: ECON
Amendment 55 #

2007/2287(INI)

Motion for a resolution
Paragraph 12
12. Reminds the Commission that effective competition between financial service providers is secured by having a large number of market participants; draws attention to its resolution on consolidation in the financial services industry, in which it averred that the pluralistic structure of the European banking market, where financial institutions could take on diverse legal forms in accordance with their diverse business aims, was an asset to the European economy and the European consumer, and made a significant contribution to the financial market’s stability;
2008/03/17
Committee: ECON
Amendment 13 #

2007/0238(CNS)

Draft directive – amending act
Article 1 – point 12
Directive 2006/112/EC
Article 168 a – paragraph 2
2. Member States may also apply paragraph 1 in relation to VAT on expenditure related to other goods forming part of the business assets as they specify. deleted Or. en (See Amendment 17.)
2009/10/15
Committee: ECON
Amendment 17 #

2007/0238(CNS)

Draft Directive – amending act
Article 1 a (new)
Article 1a Evaluation The Commission shall evaluate to what extent it would be appropriate to authorise Member States to apply Article 168a(1) of Directive 2006/112/EC to movable goods with a durable nature and forming part of the business assets. Any legislative proposal in this respect shall be accompanied by an impact assessment. Or. en (See Amendment 13.)
2009/10/15
Committee: ECON
Amendment 273 #

2007/0143(COD)

Proposal for a directive
Article 90
In so far as authorised under national law, realisaccumulated profits appearing as surplus funds in the statutory annual accountsnot yet distributed to policy-holders and beneficiaries (surplus funds) shall not be considered as insurance and reinsurance liabilities, to the extent that these surplus funds may be used to cover any losses which may arise and where they have not been made available for distribution to policyholders and beneficiarieseet the criteria set out in Article 94(1).
2008/06/30
Committee: ECON
Amendment 403 #

2007/0143(COD)

Proposal for a directive
Article 127 – paragraph 1 – point a
(a) it shall be calculated in a clear and simple manner, and in such a way as to ensure that the calculation can be audited; and verified before a court;
2008/06/30
Committee: ECON
Amendment 411 #

2007/0143(COD)

Proposal for a directive
Article 127 – paragraph 1 – point c
(c) the level of the Minimum Capital Requirement shall be calibrated to the Value- at-Risk of the basic own funds of an insurance or reinsurance undertaking subject to a confidence level in the range of 80% to 90 % over a one-year period;
2008/06/30
Committee: ECON
Amendment 423 #

2007/0143(COD)

Proposal for a directive
Article 127 – paragraph 1 – point d a (new)
(da) it shall be calculated independently of the Solvency Capital Requirement.
2008/06/30
Committee: ECON
Amendment 642 #

2007/0143(COD)

Proposal for a directive
Article 237 – paragraph 2
2. The group support shall take the form of a declaration to the group supervisor, expressed in a legally binding document and constituting a commitment to transfer own funds eligible under Article 98(5), with the exception of reserves for the restitution of premiums, which shall fall under Article 90.
2008/06/30
Committee: ECON