15 Amendments of Olle SCHMIDT related to 2013/2166(INI)
Amendment 7 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas the European Parliament has been strongly in favour of the creation of the ESAs and believes that the Authorities are key actors in the creation of more stable and safer financial markets. The European Union needs stronger and better coordinated supervision at the European level;
Amendment 14 #
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas it is too early to properly assess the impact of ESFS and ESAs and draw any definite conclusions. EU is still in the middle of a vast reform effort aiming to close legislative gaps, reduce systemic risk and strengthen the supervisory structure. More experience of the new supervisory system is needed before considering any fundamental changes regarding the powers and tasks of the ESAs.
Amendment 37 #
Motion for a resolution
Recital H a (new)
Recital H a (new)
Ha. the ESAs independence should be strengthened;
Amendment 39 #
Motion for a resolution
Recital I
Recital I
I. whereas legislation relating to financial markets, financial services and financial products is highly fragmented and the multitude of legal texts causes loopholes, duplication of reporting obligations and, regulatory overlap, unintended consequences and negative impacts on the real economy;
Amendment 45 #
Motion for a resolution
Recital J a (new)
Recital J a (new)
Ja. whereas it is of the utmost importance to increase the transparency of the work of the ESAs. Recognises that the ESAs generally operate in a transparent way through information on their websites. However, there is a need for increased transparency regarding the ESAs work and progress on advices and proposals as well as more information regarding task forces, working groups etc.;
Amendment 46 #
Motion for a resolution
Recital J b (new)
Recital J b (new)
Jb. whereas increased transparency is of outmost importance for the Stakeholder groups. Cooperation with market participants would work much better if those groups were more transparent regarding the composition of the group and the detailed duties assigned to the group. The strict secrecy around Stakeholder groups is not helpful for creating well considered and workable rules for the financial markets. Only through a more transparent procedure will the Stakeholder groups be able to give the most effective input to the ESAs;
Amendment 62 #
Motion for a resolution
Recital O
Recital O
O. whereas the possibility of binding mediation has seldom been used since many of the relevant Directives and Regulations have not yet been fully implemented;
Amendment 67 #
Motion for a resolution
Recital P
Recital P
Amendment 75 #
Motion for a resolution
Recital R
Recital R
R. whereas guidelines in some cases have proven to be a useful and necessary tool to fill gaps in regulation where no powers for the ESAs were provided for in the sectorial legislation, but in other cases have either been adopted without full support of National Competent Authorities or without clear guidance as to whether guidelines were the most appropriate tool in such circumstances; a safeguard should be designed to ensure guidelines are suitable and appropriate and do not conflict with national laws;
Amendment 88 #
Motion for a resolution
Recital T
Recital T
T. whereas some Member States have had difficulties to meet their compulsory contributions to the ESAs’' budgets; considers that the compulsory contributions of Member States conflicts with the independence of the ESAs and recommends full financing from the European budget or fees paid by market participants;
Amendment 95 #
Motion for a resolution
Recital U a (new)
Recital U a (new)
Ua. whereas the current financing of ESAs, with a mixed-financing arrangement, is inflexible, creates administrative burden, and poses a threat to the agencies' independence;
Amendment 107 #
Motion for a resolution
Recital Y
Recital Y
Y. whereas in the field of consumer protection, the efforts, deployed resources and results of the ESAs differed and were considerably low at EBA;
Amendment 114 #
Motion for a resolution
Recital AA
Recital AA
Amendment 125 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Considers that the financial implications of the requested proposal should be covered by appropriate budgetary allocations from the EU budget;
Amendment 126 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Calls for the Commission to explore options for a new long term sustainable financing of the ESAs, which safeguards its independence in the next review of the Agencies' work and financing arrangements; The Commission shall present the review of the agencies by latest 2 January 2014.