BETA

129 Amendments of Thierry CORNILLET related to 2017/0230(COD)

Amendment 353 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a a (new)Regulation (EU) No 1093/2010

Article 1 – paragraph 5 – subparagraph 1 – point f
(f) enhancing customer protection. Or. en(https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02010R1093-aa) in paragraph 5, point (f) is replaced by the following: "(f) enhancing customer protection to ensure that all customers are treated fairly by financial institutions." 20160112&from=EN)
2018/09/14
Committee: ECON
Amendment 371 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a – point ii
Regulation (EU) No 1093/2010
Article 8 – paragraph 1 – point ab
(ab) to develop and maintain up to date a Union resolution handbook on the resolution of financial institutions in the Union which sets out supervisory best practices and high quality methodologies and processes;;deleted
2018/09/14
Committee: ECON
Amendment 381 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a – point iii a (new)
Regulation (EU) No 1093/2010
Article 8 – paragraph 1 – point fa (new)
(iiia) the following point (fa) is inserted: "(fa) to lead, together with competent authorities, back-testing assessments of internal models as well as benchmarking exercises on internal model outcomes with a view to analysing the range of undue variability of risk parameters as well as their predictive capacity, and, in that context, to issue guidelines and recommendations and to identify best practices, in order to strengthen consistency in the internal model outcomes; "
2018/09/14
Committee: ECON
Amendment 386 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a – point iv a (new)
Regulation (EU) No 1093/2010
Article 8 – paragraph 1 – point h a (new)
(iva) the following point (ha) is inserted: "(ha) to foster further developments in terms of regulation and supervision which could ease a deeper harmonization and integration at the EU level; to this end the Authority shall, in its area of expertise, monitor the obstacles to cross-border consolidation and mergers, conduct a study on these obstacles and provide an opinion or recommendations with the aim of identifying appropriate ways to remove them."
2018/09/14
Committee: ECON
Amendment 387 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a – point iv b (new)
Regulation (EU) No 1093/2010
Article 8 – paragraph 1 – point i a (new)
(ivb) the following point (ia) is inserted: "(ia) to coordinate enforcement activities among competent authorities; "
2018/09/14
Committee: ECON
Amendment 394 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point c – point i a (new)
Regulation (EU) No 1093/2010
Article 8 – paragraph 2 – point cb (new)
(ia) the following point (cb) is inserted: "(cb) issue no-action letters, as laid down in Article 9(6);"
2018/09/14
Committee: ECON
Amendment 401 #
Proposal for a regulation
Article 1 – paragraph 1 – point 6 – point -a (new)
Regulation (EU) No 1093/2010
Article 9 – paragraph 1 – point aa (new)
(-a) in paragraph 1, the following point (aa) is inserted: "(aa) coordinating mystery shopping activities of competent authorities;"
2018/09/14
Committee: ECON
Amendment 408 #
Proposal for a regulation
Article 1 – paragraph 1 – point 6 – point b a (new)
Regulation (EU) No 1093/2010
Article 9 – paragraph 5
(ba) paragraph 5 is replaced by the following: "5. The Authority may temporarily prohibit or restrict certain financial activities and products that threaten to cause significant financial damage to customers or threaten the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Union in the cases specified and under the conditions laid down in the legislative acts referred to in Article 1(2) or, if so required, in the case of an emergency situation in accordance with and under the conditions laid down in Article 18. The Authority shall review the decision referred to in the first subparagraph at appropriate intervals and at least every 3 months. If the decision is not renewed after a 3three-month period, it shall automatically expire. A Member State may request the Authority to reconsider its decision. In that case, the Authority shall decide, in accordance with the procedure set out in the second subparagraph of Article 44(1), whether it maintains its decision. The Authority may also assess the need to prohibit or restrict certain types of financial activity and, where there is such a need, inform the Commission in order to facilitate the adoption of any such prohibition or restriction. "
2018/09/14
Committee: ECON
Amendment 413 #
Proposal for a regulation
Article 1 – paragraph 1 – point 6 – point b b (new)
Regulation (EU) No 1093/2010
Article 9 – paragraph 5 a (new)
(bb) the following paragraph 5a is inserted: “5a. The Authority may issue time-limited no-action-letters at the request of market participants. These time-limited no- action-letters are a temporary commitment on the part of the Authority and all competent authorities not to enforce market participant non- compliance with specific provisions of Union law where the market participant cannot comply with such provisions of Union law because of any of the following reasons: (a) compliance would place the market participant in breach of other legal and regulatory requirements of Union law; (b) compliance is reasonably impossible without further level 2 measures or level 3 guidance; (c) compliance would significantly distort conditions for neutral competition for the market participant in the Union in the context of the worldwide application of international standards. The Authority shall provide the time- limited no-action-letter to the requestor based on the specific facts and circumstances set forth in the request. The Authority may permit parties other than the requestor to rely on the time- limited no-action-letter to the extent that the third party’s facts and circumstances are substantially similar to those described in the underlying request. The Authority shall make all no-action- letters public. The Authority shall review the decisions referred to in the first and second subparagraph at appropriate intervals and at least every 3 months. If a decision is not renewed after a three-month period, it shall automatically expire. A Member State may request the Authority to reconsider its decision. In that case, the Authority shall decide in accordance with the procedure set out in the second subparagraph of Article 44(1), whether it maintains its decision.”
2018/09/14
Committee: ECON
Amendment 441 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point d
Regulation (EU) No 1093/2010
Article 16 – paragraph 5 – subparagraph 1
Where two thirdshe majority of the members of the Banking Stakeholder Group are of the opinion that the Authority has exceeded its competence by issuing certain guidelines or recommendations, they may send a reasoned opinion to the Commission.
2018/09/14
Committee: ECON
Amendment 467 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point a
Regulation (EU) No 1093/2010
Article 19 – paragraph 1 – subparagraph 1 – introductory part
"1. In cases specified in the Union acts referred to in Article 1(2) and without prejudice to the powers laid down in Article 17, the Authority may assist the competent authorities in reaching an agreement in accordance with the procedure set out in paragraphs 2 to 4 in either of the following circumstances:
2018/09/14
Committee: ECON
Amendment 469 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point a
Regulation (EU) No 1093/2010
Article 19 – paragraph 1 – subparagraph 2
In cases where the acts referred to in Article 1(2)Union acts require a joint decision to be taken by competent authorities, a disagreement shall be presumed in the absence of a joint decision being taken by those authorities within the time limits set out in those acts.";
2018/09/14
Committee: ECON
Amendment 470 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point b
Regulation (EU) No 1093/2010
Article 19 – paragraph 1a – point a – introductory part
(a) where a time limit for reaching an agreement between competent authorities has been provided for in the Union acts, referred to in Article 1(2), and the earlier of the following occurs:
2018/09/14
Committee: ECON
Amendment 471 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point b
Regulation (EU) No 1093/2010
Article 19 – paragraph 1a – point b – introductory part
(b) where no time limit for reaching an agreement between competent authorities has been provided in the Union acts referred to in Article 1(2) , and the earlier of the following occurs:
2018/09/14
Committee: ECON
Amendment 472 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point b
Regulation (EU) No 1093/2010
Article 19 – paragraph 1b – subparagraph 2
Pending the Authority's decision in accordance with the procedure set out in Article 47(3a), in cases where the acts referred to in Article 1(2)Union acts require a joint decision to be taken, all competent authorities involved in the joint decision shall defer their individual decisions. Where the Authority decides to act, all competent authorities involved in the joint decision shall defer their decisions until the procedure set out in paragraphs 2 and 3 is concluded.";
2018/09/14
Committee: ECON
Amendment 473 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point b a (new)
Regulation (EU) No 1093/2010
Article 19 – paragraph 2
(ba) paragraph 2 is amended as follows: The Authority shall set a time limit for conciliation between the competent authorities taking into account any relevant time periods specified in the acts referred to in Article 1(2)Union acts and the complexity and urgency of the matter. At that stage the Authority shall act as a mediator.
2018/09/14
Committee: ECON
Amendment 498 #
Proposal for a regulation
Article 1 – paragraph 1 – point 11 – point b
Regulation (EU) No 1093/2010
Article 29 – paragraph 2 – subparagraph 3
For the purpose of establishing a common supervisory culture, the Authority shall develop and maintain an up-to-date Union supervisory handbook on the supervision of financial institutions in the Union, taking into account changing business practices and business models of financial institutions. The Authority shall also develop and maintain an up-to-date Union resolution handbook on the resolution of financial institutions in the Union. Both the Union supervisory handbook and the Union resolutionsupervisory handbook shall set out supervisory best practices and shall specify high quality methodologies and processes.;
2018/09/14
Committee: ECON
Amendment 504 #
Proposal for a regulation
Article 1 – paragraph 1 – point 12
Regulation (EU) No 1093/2010
Article 29a – paragraph 1 – subparagraph 1
Competent authorities shall identify and inform the Authority about supervisory activities which should be prioritised in order to address relevant micro-prudential trends, potential risks and vulnerabilities. Upon the entry into application of Regulation [XXX insert reference to amending Regulation] and every three years thereafter by 31 March, based on the contributions from competent authorities, the Authority shall issue a recommendation addressed to competent authorities, laying down supervisory strategic objectives and priorities ("Strategic Supervisory Plan") and, taking into account any contributions from competent authorities,. The Authority shall transmit the Strategic Supervisory Plan for information to the European Parliament, the Council and the Commission and shall make it public on its website.
2018/09/14
Committee: ECON
Amendment 530 #
Proposal for a regulation
Article 1 – paragraph 1 – point 13 – point c
Regulation (EU) No 1093/2010
Article 30 – paragraph 1a
1a. For the purposes of this Article, the Authority shall establish a review committee, exclusively composed of staff from the Authority and competent authorities. The Authority may delegate certain tasks or decisions to the review committee.;
2018/09/14
Committee: ECON
Amendment 555 #
Proposal for a regulation
Article 1 – paragraph 1 – point 15
Regulation (EU) No 1093/2010
Article 31a – paragraph 2 – subparagraph 1
The competent authorities shall notify the Authority where they intend to carry out an authorisation or registration related to a financial institution which is under supervision of the competent authority concerned in accordance with the acts referred to in Article 1(2) and where the business plan of the financial institution entails the outsourcing or delegation of a material part of its activities or any of the key functions or the risk transfer of a material part of its activities into third countries, to benefit from the EU passport while essentially performing substantial activities or functions outside the Union. The notification to the Authority shall be sufficiently detailed to allow for a proper assessment. by the Authority.
2018/09/14
Committee: ECON
Amendment 559 #
Proposal for a regulation
Article 1 – paragraph 1 – point 15
Regulation (EU) No 1093/2010
Article 31a – paragraph 2 – subparagraph 2
Where the Authority considers it necessary to issue an opinion to a competent authority regarding the non- compliance of an authorisation or registration notified pursuant to the first subparagraph with Union law or guidelines, recommendations or opinions adopted by the Authority, the Authority shall inform that competent authority thereof within 20 working days of the receipt of the notification by that competent authority. In that case the competent authority concerned shall await the opinion of the Authority before carrying out the registration or authorisation.deleted
2018/09/14
Committee: ECON
Amendment 596 #
Proposal for a regulation
Article 1 – paragraph 1 – point 17 – point a
Regulation (EU) 1093/2010
Article 33 – paragraph 2
2. The Authority shall systematically assist the Commission in preparing equivalence decisions pertaining to regulatory and supervisory regimes in third countries following a specific request for advice from the Commission or where required to do so by the acts referred to in Article 1(2).;
2018/09/14
Committee: ECON
Amendment 662 #
Proposal for a regulation
Article 1 – paragraph 1 – point 22 – point -a (new)Regulation (EU) No 1093/2010

Article 37 – paragraph 3
(-a) paragraph 3, is replaced by the following: “3. The members of the Banking Stakeholder Group shall be appointed by the Board of Supervisors, following proposals from the relevant stakeholders. In making its decision, the Board of Supervisors shall, to the extent possible, ensure an appropriate geographical and gender balance and representation of stakeholders across the Union. The selection process should be fully transparent.”
2018/09/14
Committee: ECON
Amendment 665 #
Proposal for a regulation
Article 1 – paragraph 1 – point 22 – point a
Regulation (EU) No 1093/2010
Article 37 – paragraph 4 – subparagraph 1
(a) in paragraph 4, the last sentence of the first subparagraph is replaced by the following:subparagraph 1 is replaced by the following: 4. The Authority shall provide all necessary information subject to professional secrecy as set out in Article 70 and ensure adequate secretarial support for the Banking Stakeholder Group. Adequate compensation shall be provided to members of the Banking Stakeholder Group representing non-profit organisations, excluding industry representatives. This compensation shall take into account the members' preparatory and follow-up work and shall be at least equivalent to the reimbursement rates of officials pursuant to Title V, Chapter 1, Section 2 of the Staff Regulations of Officials of the European Union and the Conditions of Employment of Other Servants of the European Union laid down in Council Regulation (EEC, Euratom, ECSC) No 259/68 (1) (Staff Regulations). The Banking Stakeholder Group may establish working groups on technical issues. Members of the Banking Stakeholder Group shall serve for a period of fourive years, following which a new selection procedure shall take place.;
2018/09/14
Committee: ECON
Amendment 674 #
Proposal for a regulation
Article 1 – paragraph 1 – point 22 – point b a (new)Regulation (EU) No 1093/2010

Article 37 – paragraph 7
(b a) paragraph 7 is replaced by the following: “7. The Authority shall make public the opinions and advice of the Banking Stakeholder Group and the results of its consultations. as well as how these opinions, advice and results of consultations were taken into account by the Authority.”
2018/09/14
Committee: ECON
Amendment 679 #
Proposal for a regulation
Article 1 – paragraph 1 – point 24 – point a – point -i (new)Regulation (EU) No
1093/2010
Article 40 – paragraph 1 – point a
(a) the Chairperson, who shall be non- voting;-i) point (a) is replaced by the following: “(a) the Chairperson;”
2018/09/14
Committee: ECON
Amendment 680 #
Proposal for a regulation
Article 1 – paragraph 1 – point 24 – point a – point i
Regulation (EU) No 1093/2010
Article 40 – paragraph 1 – point aa
(aa) the full time members of the Executive Board referred to Article 45(1), who shall be non-voting;;
2018/09/14
Committee: ECON
Amendment 711 #
Proposal for a regulation
Article 1 – paragraph 1 – point 28 – point a – introductory part
(a) the second subparagraph of paragraph 1 is replaced by the following:
2018/09/14
Committee: ECON
Amendment 712 #
Proposal for a regulation
Article 1 – paragraph 1 – point 28 – point –a (new)
Regulation (EU) No 1093/2010
Article 44 – paragraph 1 – subparagraph 1
(-a) in paragraph 1, subparagraph 1 is replaced by the following: “1. Decisions of the Board of Supervisors shall be taken by a simple majority of its members. Each member shall have one vote. In the event of a tie, the Chairperson shall have a casting vote.”
2018/09/14
Committee: ECON
Amendment 714 #
Proposal for a regulation
Article 1 – paragraph 1 – point 28 – point a
Regulation (EU) No 1093/2010
Article 44 – paragraph 1 – subparagraph 2
With regard to the acts specified in Articles 10 to 16 and measures and decisions adopted under the third subparagraph of Article 9(5) and the last subparagraph of Article 9(56) and Chapter VI and by way of derogation from the first subparagraph of this paragraph, the Board of Supervisors shall take decisions on the basis of a qualified majority of its members, as defined in Article 16(4) of the Treaty on European Union, which shall include at least a simple majority of the members, present at the vote, from competent authorities of Member States that are participating Member States as defined in point 1 of Article 2 of Regulation (EU) No 1024/2013 (participating Member States) and a simple majority of the members, present at the vote, from competent authorities of Member States that are not participating Member States as defined in point 1 of Article 2 of Regulation (EU) No 1024/2013 (non-participating Member States).
2018/09/14
Committee: ECON
Amendment 717 #
Proposal for a regulation
Article 1 – paragraph 1 – point 28 – point a
Regulation (EU) No 1093/2010
Article 44 – paragraph 1 – subparagraphs 2a
The full time members of the Executive Board and the Chairperson shall not vote on these decisions.;deleted
2018/09/14
Committee: ECON
Amendment 731 #
Proposal for a regulation
Article 1 – paragraph 1 – point 30
Regulation (EU) No 1093/2010
Article 45 – paragraph 2 – subparagraph 1
The full time members shall be selected on the basis of merit, skills, knowledge of financial institutions and markets, and experience relevant to financial supervision and regulation. The full time members shall have extensive management experience. At least one of the full time members should during the three years prior to being appointed not have been employed by a competent authority. The selection shall be based on an open call for candidates, to be published in the Official Journal of the European Union, following which the Commission shall draw up a shortlist of qualified candidates.
2018/09/14
Committee: ECON
Amendment 756 #
Proposal for a regulation
Article 1 – paragraph 1 – point 31
Regulation (EU) No 1093/2010
Article 45a – paragraph 4 – subparagraph 2
The Executive Board shall meet prior to every meeting of the Board of Supervisors and as often as the Executive Board deems necessary. It shall meet at least five24 times a year.
2018/09/14
Committee: ECON
Amendment 780 #
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Regulation (EU) No 1093/2010
Article 47 – paragraph 4
4. The Executive Board shall adopt the Authority's staff policy planprogramming document and, pursuant to Article 68(2), the necessary implementing measures of the Staff Regulations of Officials of the European Communities ('the Staff Regulations’).
2018/09/14
Committee: ECON
Amendment 838 #
Proposal for a regulation
Article 1 – paragraph 1 – point 43 – point a a (new)Regulation (EU) No 1093/2010

Article 62 – pararagraph 1a (new)
(a a) the following paragraph 1a is inserted: 1a. The revenue received by the Authority shall not compromise its independence or objectivity.
2018/09/14
Committee: ECON
Amendment 840 #
Proposal for a regulation
Article 1 – paragraph 1 – point 43 – point a b (new)Regulation (EU) No 1093/2010

Article 62 – pararagraph 4 – subparagraph 1 a (new)
(a b) in paragraph 4, the following subparagraph is added: Estimates shall be based on the objectives and the expected results of the annual work programme referred to in Article 47(2) and shall take into account the financial resources necessary to achieve those objectives and expected results, in accordance with the principle of performance based budgeting.
2018/09/14
Committee: ECON
Amendment 870 #
Proposal for a regulation
Article 2 – paragraph 1 – point 1 a (new)
Regulation (EU) 1094/2010
Article 1 – paragraph 6 – point f
(f) enhancing customer protection.(1a) in paragraph 6 of Article 1, point (f) is replaced by the following: "(f) enhancing customer protection to ensure that all customers are treated fairly by financial institutions."
2018/09/19
Committee: ECON
Amendment 877 #
Proposal for a regulation
Article 2 – paragraph 1 – point 5 – point a – point iii a (new)
Regulation (EU) No 1094/2010
Article 8 –paragraph 1 – point i a (new)
(iiia) the following point (ia) is inserted: “(ia) to coordinate enforcement activities among competent authorities;”
2018/09/19
Committee: ECON
Amendment 882 #
Proposal for a regulation
Article 2 – paragraph 1 – point 5 – point c – point i – introductory part
Regulation (EU) No 1094/2010
Article 8 – paragraph 2 – points c a and ca a (new)
(i) points (ca) isand (caa) are inserted:
2018/09/19
Committee: ECON
Amendment 883 #
Proposal for a regulation
Article 2 – paragraph 1 – point 5 – point c – point i
(caa) issue no-action letters, as laid down in Article 9(6);
2018/09/19
Committee: ECON
Amendment 885 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point a – introductory part
Regulation (EU) No 1094/2010
Article 9 – paragraph 1 – points a a, a b and ab a (new)
(a) in paragraph 1, the following points (aa), (ab) and (ab a) are inserted:
2018/09/19
Committee: ECON
Amendment 887 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point a
Regulation (EU) No 1094/2010
Article 9 – paragraph 1 – point ab a (new)
(aba) coordinating mystery shopping activities of competent authorities;
2018/09/19
Committee: ECON
Amendment 888 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point d a (new)
Regulation (EU) No 1094/2010
Article 9 – paragraph 5 – subparagraph 1
(da) in paragraph 5, subparagraph 1 is replaced by the following: ‘5. The Authority may temporarily prohibit or restrict certain financial activities and products that threaten to cause significant financial damage to customers or threaten the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Union in the cases specified and under the conditions laid down in the legislative acts referred to in Article 1(2) or, if so required, in the case of an emergency situation in accordance with and under the conditions laid down in Article 18.
2018/09/19
Committee: ECON
Amendment 889 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point d b (new)
Regulation (EU) No 1094/2010
Article 9 – paragraph 5 a (new)
(db) the following paragraph 5a is inserted: “5a. The Authority may issue time- limited no-action-letters at the request of market participants. These time-limited no-action-letters are a temporary commitment on the part of the Authority and all competent authorities not to enforce market participant non- compliance with specific provisions of Union law where the market participant cannot comply with such provisions of Union law because of any of the following reasons: (a) compliance would place the market participant in breach of other legal and regulatory requirements of Union law; (b) compliance is reasonably impossible without further level 2 measures or level 3 guidance; (c) compliance would significantly distort conditions for neutral competition for the market participant in the Union in the context of the worldwide application of international standards. The Authority shall provide the time- limited no-action-letter to the requestor based on the specific facts and circumstances set forth in the request. The Authority may permit parties other than the requestor to rely on the time- limited no-action-letter to the extent that the third party’s facts and circumstances are substantially similar to those described in the underlying request. The Authority shall make all no-action- letters public. The Authority shall review the decisions referred to in the first and second subparagraph at appropriate intervals and at least every 3 months. If a decision is not renewed after a three-month period, it shall automatically expire. A Member State may request the Authority to reconsider its decision. In that case, the Authority shall decide in accordance with the procedure set out in the second subparagraph of Article 44(1), whether it maintains its decision.”
2018/09/19
Committee: ECON
Amendment 894 #
Proposal for a regulation
Article 2 – paragraph 1 – point 7 – point d
Regulation (EU) No 1094/2010
Article 16 – paragraph 5 – subparagraph 1
Where two thirdshe majority of the members of the Insurance and Reinsurance Stakeholder Group or Occupational Pensions Stakeholder Group are of the opinion that the Authority has exceeded its competence by issuing certain guidelines or recommendations, they may send a reasoned opinion to the Commission.
2018/09/19
Committee: ECON
Amendment 896 #
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point a
Regulation (EU) No 1094/2010
Article 19 – paragraph 1 – subparagraph 1 – introductory part
In cases specified in the Union acts referred to in Article 1(2) and wWithout prejudice to the powers laid down in Article 17, the Authority may assist the competent authorities in reaching an agreement in accordance with the procedure set out in paragraphs 2 to 4 in either of the following circumstances:
2018/09/19
Committee: ECON
Amendment 897 #
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point a
Regulation (EU) No 1094/2010
Article 19 – paragraph 1 – subparagraph 2
In cases where the acts referred to in Article 1(2)Union legislation requires a joint decision to be taken by competent authorities, a disagreement shall be presumed in the absence of a joint decision being taken by those authorities within the time limits set out in those acts".;
2018/09/19
Committee: ECON
Amendment 898 #
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point b
Regulation (EU) No 1094/2010
Article 19 – paragraph 1 a – point a – introductory part
(a) where a time limit for reaching an agreement between competent authorities has been provided for in the Union acts, referred to in Article 1(2), and the earlier of the following occurs :
2018/09/19
Committee: ECON
Amendment 899 #
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point b
Regulation (EU) No 1094/2010
Article 19 – paragraph 1 a – point b – introductory part
(b) where no time limit for reaching an agreement between competent authorities has been provided in the Union acts referred to in Article 1(2) , and the earlier of the following occurs:
2018/09/19
Committee: ECON
Amendment 900 #
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point c
Regulation (EU) No 1094/2010
Article 19 – paragraph 1 b – subparagraph 2
Pending the Authority's decision in accordance with the procedure set out in Article 47(3a), in cases where the acts referred to in Article 1(2)Union legislation requires a joint decision to be taken, all competent authorities involved in the joint decision shall defer their individual decisions. Where the Authority decides to act, all the competent authorities involved in the joint decision shall defer their decisions until the procedure set out in paragraphs 2 and 3 is concluded.";
2018/09/19
Committee: ECON
Amendment 901 #
Proposal for a regulation
Article 2 – paragraph 1 – point 9 – point c a (new)
Regulation (EU) No 1094/2010
Article 19 – paragraph 2
(ca) Paragraph 2 is replaced by the following: 2. The Authority shall set a time limit for conciliation between the competent authorities taking into account any relevant time periods specified in the acts referred to in Article 1(2)Union acts and the complexity and urgency of the matter. At that stage the Authority shall act as a mediator.
2018/09/19
Committee: ECON
Amendment 908 #
Proposal for a regulation
Article 2 – paragraph 1 – point 11 a (new)
Regulation (EU) No 1094/2010
Article 22 – paragraph 4 – subparagraph 1
(11a) In Article 22, subparagraph 1 of paragraph 4 is replaced by the following: ‘4. Upon a request from one or more competent authorities, the European Parliament, the Council, including at the request of one or several Member States, or the Commission, or on its own initiative, the Authority may conduct an inquiry into a particular type of financial institution or type of product or type of conduct in order to assess potential threats to the stability of the financial system, or to the protection of policyholders, pension scheme members and beneficiaries, and make appropriate recommendations for action to the competent authorities concerned.
2018/09/19
Committee: ECON
Amendment 920 #
Proposal for a regulation
Article 2 – paragraph 1 – point 14
Regulation (EU) No 1094/2010
Article 29 a – paragraph 1 – subparagraph 1
1. Competent authorities shall identify and inform the Authority about supervisory activities which should be prioritised in order to address relevant micro-prudential trends, potential risks and vulnerabilities. Upon the entry into application of Regulation [XXX insert reference to amending Regulation] and every three years thereafter by 31 March, based on the contributions from competent authorities, the Authority shall issue a recommendation addressed to competent authorities, laying down supervisory strategic objectives and priorities ("Strategic Supervisory Plan") and, taking into account any contributions from competent authorities,. The Authority shall transmit the Strategic Supervisory Plan for information to the European Parliament, the Council and the Commission and shall make it public on its website.
2018/09/19
Committee: ECON
Amendment 922 #
Proposal for a regulation
Article 2 – paragraph 1 – point 15 – point c
Regulation (EU) No 1094/2010
Article 30 – paragraph 1 a
1a. For the purpose of this Article, the Authority shall establish a review committee, exclusively composed of staff from the Authority and competent authorities. The Authority may delegate certain tasks or decisions to the review committee.;
2018/09/19
Committee: ECON
Amendment 925 #
Proposal for a regulation
Article 2 – paragraph 1 – point 15 a (new)
Regulation (EU) No 1094/2010
Article 31 – paragraph 1
(15a) in Article 31, paragraph 1 is replaced by the following: The Authority shall fulfil a general coordination role between competent authorities, in particular in situations where adverse developments could potentially jeopardise the orderly functioning and integrity of financial markets or the stability of the financial system or the protection of policyholders, pension scheme members and beneficiaries in the Union.
2018/09/19
Committee: ECON
Amendment 927 #
Proposal for a regulation
Article 2 – paragraph 1 – point 15 a (new)
Regulation (EU) No 1094/2010
Article 31 – paragraph 2 – point e
(e) taking all appropriate measures15a) In Article 31, point (e) of paragraph 2 is replaced by the following: (e) taking all appropriate measures, including, upon a request from the competent authorities or on its own initiative, setting up and coordinate the activity or functioning of collaboration platforms as referred to in Article 31c in case of developments which may jeopardise the functioning of the financial markets with a view to facilitating the coordination of actions undertaken by relevant competent authorities;
2018/09/19
Committee: ECON
Amendment 931 #
Proposal for a regulation
Article 2 – paragraph 1 – point 17
Regulation (EU) No 1094/2010
Article 31 a – paragraph 2 – subparagraph 1
2. The competent authorities shall notify the Authority where they intend to carry out an authorisation or registration related to a financial institution which is under supervision of the competent authority concerned in accordance with the acts referred to in Article 1(2) and where the business plan of the financial institution entails the outsourcing or delegation of a material part of its activities or any of the key functions or the risk transfer of a material part of its activities into third countries, to benefit from the EU passport while essentially performing substantial activities or functions outside the Union. The notification to the Authority shall be sufficiently detailed to allow for a proper assessment by the Authority.
2018/09/19
Committee: ECON
Amendment 932 #
Proposal for a regulation
Article 2 – paragraph 1 – point 17
Regulation (EU) No 1094/2010
Article 31 a – paragraph 2 – subparagraph 2
Where the Authority considers it necessary to issue an opinion to a competent authority regarding the non- compliance of an authorisation or registration notified pursuant to the first subparagraph with Union law or guidelines, recommendations or opinions adopted by the Authority, the Authority shall inform that competent authority thereof within 20 working days of the receipt of the notification by that competent authority. In that case the competent authority concerned shall await the opinion of the Authority before carrying out the registration or authorisation.deleted
2018/09/19
Committee: ECON
Amendment 933 #
Proposal for a regulation
Article 2 – paragraph 1 – point 17
Regulation (EU) No 1094/2010
Article 31 a – paragraph 2 – subparagraph 3
At the request of the Authority, the competent authority shall within 15 working days of the receipt of such a request provide information related to its decisions to authorise or register a financial institution which is under its supervision in accordance with the acts referred to in Article 1(2).deleted
2018/09/19
Committee: ECON
Amendment 934 #
Proposal for a regulation
Article 2 – paragraph 1 – point 17
Regulation (EU) No 1094/2010
Article 31 a – paragraph 2 – subparagraph 4
The Authority shall issue the opinion, without prejudice to any time limits set out in Union law, at the latest within 2 months of the receipt of the notification pursuant to the first subparagraph.deleted
2018/09/19
Committee: ECON
Amendment 935 #
Proposal for a regulation
Article 2 – paragraph 1 – point 17
Regulation (EU) No 1094/2010
Article 31 a – paragraph 4
4. The Authority may issue recommendations to the competent authority concerned, including recommendations to review a decision or to withdraw an authorisation. Where the competent authority concerned does not follow the recommendations of the Authority within 15 working days, the competent authority shall state the reasons and the Authority shall make its recommendation public together with those reasons.;deleted
2018/09/19
Committee: ECON
Amendment 936 #
Proposal for a regulation
Article 2 – paragraph 1 – point 17 a (new)
Regulation (EU) No 1094/2010
Article 31 b (new)
(17a) The following Article 31b is inserted: ‘Article 31b Early coordination on cross border activities 1. The competent authorities of the home Member State shall inform the competent authorities of the host Member(s) State(s) concerned and the Authority if the competent authorities of the home Member State intend to carry out an authorization related to a financial institution which is under their supervision in accordance with the acts referred to in Article 1(2), where the business plan of the financial institution entails that significant parts of its activities will be done on a cross-border basis. 2. Such information shall be provided without delay to the competent authorities of the host Member(s) State(s) concerned and the Authority, and prior to the formal notifications provided in the acts referred to in Article1(2), so as to allow the competent authorities of the host Member(s) State(s)to express their views on this request. 3. When the competent authorities of a Member State identify an event deteriorating the solvency position, financial condition or organizational structure of a financial institution that may have a cross-border effect, they shall notify the Authority and the competent authorities of the host Member States concerned. 4. In case of incorrect implementation of paragraphs 1, 2 or 3, the authorities of the home Member State or of the host Member State(s) may refer the matter to EIOPA and request its assistance in accordance with Article 19.’
2018/09/19
Committee: ECON
Amendment 937 #
Proposal for a regulation
Article 2 – paragraph 1 – point 17 b (new)
Regulation (EU) No 1094/2010
Article 31c (new)
(17b) The following Article 31c is inserted: ‘Article 31c Collaboration platforms 1. In order to ensure enhanced cooperation and information exchange for the supervision of financial institutions doing cross border activities [on the basis of freedom to provide services or freedom of establishment], the Authority may, on its own initiative or at the request of the competent authorities of the home Member State(s) or of a host Member State(s), decide to set up and participate in collaboration platforms. 2. The functioning of the collaboration platforms might be based on an arrangement establishing the rules of cooperation and coordination between the Authority and the other authorities involved. 3. Without prejudice to Article 35, the competent authorities participating in a collaboration platform shall provide all the necessary information to ensure the efficient functioning of the platform. 4. In accordance with Article 16, the Authority may, on the basis of the discussions taking place within the framework of a collaboration platform, issue a recommendation to a competent authority to take appropriate measures to remedy an advert situation. In case of disagreement between the supervisory authorities participating in a platform, any of these authorities may refer the matter to the Authority and request its assistance in accordance with Article19.’
2018/09/19
Committee: ECON
Amendment 942 #
Proposal for a regulation
Article 2 – paragraph 1 – point 20 – point a
2. The Authority shall systematically assist the Commission in preparing equivalence decisions pertaining to regulatory and supervisory regimes in third countries following a specific request for advice from the Commission or where required to do so by the acts referred to in Article 1(2).;
2018/09/19
Committee: ECON
Amendment 951 #
Proposal for a regulation
Article 2 – paragraph 1 – point 25 – point a – introductory part
Regulation (EU) No 1094/2010
Article 37 – paragraph 5
(a) in paragraph 5 the last sentence of the first subparagraph is replaced by the following:
2018/09/19
Committee: ECON
Amendment 952 #
Proposal for a regulation
Article 2 – paragraph 1 – point 25 – point a
Regulation (EU) No 1094/2010
Article 37 – paragraph 5 – subparagraph 1
5. The Authority shall provide all necessary information subject to professional secrecy as set out in Article 70 and ensure adequate secretarial support for the Stakeholder Groups. Adequate compensation shall be provided to members of the Stakeholder Groups representing non-profit organisations, excluding industry representatives. Members of the Insurance and Reinsurance Stakeholder Group and of the Occupational PensionsThis compensation shall take into account the members' preparatory and follow-up work and shall be at least equivalent to the reimbursement rates of officials pursuant to Title V, Chapter 1, Section 2 of the Staff Regulations of Officials of the European Union and the Conditions of Employment of Other Servants of the European Union laid down in Council Regulation (EEC, Euratom, ECSC) No 259/68 (1) (Staff Regulations). The Stakeholder Groups may establish working groups on technical issues. Members of the Stakeholder Groups shall serve for a period of fourive years, following which a new selection procedure shall take place.
2018/09/19
Committee: ECON
Amendment 953 #
Proposal for a regulation
Article 2 – paragraph 1 – point 25 – point b a (new)
Regulation (EU) No 1094/2010
Article 37 – paragraph 8
(ba) paragraph 8 is replaced by the following: ‘8. The Authority shall make public the opinions and advice of the Stakeholder Groups and the results of their consultations. as well as how these opinions, advice and results of consultations were taken into account by the Authority.’
2018/09/19
Committee: ECON
Amendment 954 #
Proposal for a regulation
Article 2 – paragraph 1 – point 27 – point a – point -i (new)
Regulation (EU) No 1094/2010
Article 40 – paragraph 1 – point a
(a) the Chairperson, who shall be non- voting;-i) point (a) is replaced by the following: ‘(a) the Chairperson;’
2018/09/19
Committee: ECON
Amendment 955 #
Proposal for a regulation
Article 2 – paragraph 1 – point 27 – point a – point i
Regulation (EU) No 1094/2010
Article 40 – paragraph 1 – point a a
(aa) the full time members of the Executive Board referred to Article 45(1), who shall be non-voting;
2018/09/19
Committee: ECON
Amendment 957 #
Proposal for a regulation
Article 2 – paragraph 1 – point 28
Regulation (EU) No 1094/2010
Article 41 – paragraph 1
The Board of Supervisors may establish internal committees for specific tasks and decisions attributed to it. The Board of Supervisors may provide for the delegation of certain clearly defined tasks and decisions to internal committees, to the Executive Board, to a full-time member of the Executive Board, or to the Chairperson.
2018/09/19
Committee: ECON
Amendment 958 #
Proposal for a regulation
Article 2 – paragraph 1 – point 31 – point -a (new)
Regulation (EU) No 1094/2010
Article 44 – paragraph 1 – subparagraphs 1 and 2
(-a) in paragraph 1, subparagraphs 1 and 2 are replaced by the following: ‘1. Decisions of the Board of Supervisors shall be taken by a simple majority of its members. Each member shall have one vote. In the event of a tie, the Chairperson shall have a casting vote. With regard to the acts specified in Articles 10 to 16 and measures and decisions adopted under the third subparagraph of Article 9(5) and the last subparagraph of Article 9(6) and Chapter VI and by way of derogation from the first subparagraph of this paragraph, the Board of Supervisors shall take decisions on the basis of a qualified majority of its members, as defined in Article 16(4) of the Treaty on European Union and in Article 3 of the Protocol (No 36) on transitional provisions.
2018/09/19
Committee: ECON
Amendment 959 #
Proposal for a regulation
Article 2 – paragraph 1 – point 31 – point a
Regulation (EU) No 1094/2010
Article 44 – paragraph 1 – subparagraph 2 – sentence 1 a
The full time members of the Executive Board and the Chairperson shall not vote on these decisions.;deleted
2018/09/19
Committee: ECON
Amendment 960 #
Proposal for a regulation
Article 2 – paragraph 1 – point 31 – point b
Regulation (EU) No 1094/2010
Article 44 – paragraph 1 – subparagraphs 3 and 4
(b) in paragraph 1, the third and the fourth subparagraphs are deleted;
2018/09/19
Committee: ECON
Amendment 965 #
Proposal for a regulation
Article 2 – paragraph 1 – point 33
Regulation (EU) No 1094/2010
Article 45 – paragraph 2 – subparagraph 1
2. The full time members shall be selected on the basis of merit, skills, knowledge of financial institutions and markets, and experience relevant to financial supervision and regulation. The full time members shall have extensive management experience. At least one of the full time members should during the three years prior to being appointed not have been employed by a competent authority. The selection shall be based on an open call for candidates, to be published in the Official Journal of the European Union, following which the Commission shall draw up a shortlist of qualified candidates.
2018/09/19
Committee: ECON
Amendment 969 #
Proposal for a regulation
Article 2 – paragraph 1 – point 34
Regulation (EU) No 1094/2010
Article 45 a – paragraph 4 – subparagraph 2
The Executive Board shall meet prior to every meeting of the Board of Supervisors and as often as the Executive Board deems necessary. It shall meet at least five24 times a year.
2018/09/19
Committee: ECON
Amendment 972 #
Proposal for a regulation
Article 2 – paragraph 1 – point 37
Regulation (EU) No 1094/2010
Article 47 – paragraph 4
4. The Executive Board shall adopt the Authority’s staff policy planprogramming document and, pursuant to Article 68(2), the necessary implementing measures of the Staff Regulations of Officials of the European Communities ('the Staff Regulations’).
2018/09/19
Committee: ECON
Amendment 973 #
Proposal for a regulation
Article 2 – paragraph 1 – point 46 – point a a (new)
Regulation (EU) No 1094/2010
Article 62 – paragraph 1 a (new)
(aa) the following paragraph 1a is inserted: 1a. The revenue received by the Authority shall not compromise its independence or objectivity.
2018/09/19
Committee: ECON
Amendment 974 #
Proposal for a regulation
Article 2 – paragraph 1 – point 46 – point a b (new)
Regulation (EU) No 1094/2010
Article 62 – paragraph 4 – subparagraph 1 a (new)
(ab) in paragraph 4, the following subparagraph is added: Estimates shall be based on the objectives and the expected results of the annual work programme referred to in Article 47(2) and shall take into account the financial resources necessary to achieve those objectives and expected results, in accordance with the principle of performance based budgeting.
2018/09/19
Committee: ECON
Amendment 982 #
Proposal for a regulation
Article 3 – paragraph 1 – point 1 – point b a (new)
Regulation (EU) No 1095/2010
Article 1 – paragraph 5 – subparagraph 1 – point f
(f) enhancing customer protection.ba) in paragraph 5, subparagraph 1, point (f) is replaced by the following: "(f) enhancing customer protection to ensure that all customers are treated fairly by financial institutions."
2018/09/19
Committee: ECON
Amendment 985 #
Proposal for a regulation
Article 3 – paragraph 1 – point 5 – point a – point iii a (new)
Regulation (EU) No 1095/2010
Article 8 –paragraph 1 – points i a (new), i b (new) and i c (new)
(iiia) the following points (ia), (ib), and (ic) are inserted: ‘(ia) to contribute to the design of a common EU financial data strategy with a view to streamlining the collection, reporting, transfer and usage of data by or to the Authority, competent authorities and third country authorities; (ib) to coordinate enforcement activities among competent authorities; (ic) to publish and maintain databases and tools as laid down in the Regulation of the European Parliament and of the Council on facilitating cross-border distribution of collective investment undertakings and amending Regulations (EU) No 345/2013 and (EU) No 346/2013;’
2018/09/19
Committee: ECON
Amendment 989 #
Proposal for a regulation
Article 3 – paragraph 1 – point 5 – point c – point i a (new)
Regulation (EU) No 1095/2010
Article 8 – paragraph 2 – point c b (new
(ia) the following point (cb) is inserted: ‘(cb) issue no-action letters, as laid down in Article 9(6);’
2018/09/19
Committee: ECON
Amendment 991 #
Proposal for a regulation
Article 3 – paragraph 1 – point 6 – point a a (new)
Regulation (EU) No 1095/2010
Article 9 – paragraph 1 – point a c (new)
(aa) the following point (ac) is inserted: (aba) (ac) coordinating mystery shopping activities of competent authorities;
2018/09/19
Committee: ECON
Amendment 992 #
Proposal for a regulation
Article 3 – paragraph 1 – point 6 – point c a (new)
Regulation (EU) No 1095/2010
Article 9 – paragraph 5 – subparagraph 1
(ca) paragraph 5 is replaced by the following: ‘5. The Authority may temporarily prohibit or restrict certain financial activities and products that threaten to cause significant financial damage to customers or threaten the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Union in the cases specified and under the conditions laid down in the legislative acts referred to in Article 1(2) or if so required in the case of an emergency situation in accordance with and under the conditions laid down in Article 18.
2018/09/19
Committee: ECON
Amendment 993 #
Proposal for a regulation
Article 3 – paragraph 1 – point 6 – point c b (new)
Regulation (EU) No 1095/2010
Article 9 – paragraph 5 a (new)
(cb) the following paragraph 5a is inserted: ‘5a. The Authority may issue time- limited no-action-letters at the request of market participants. These time-limited no-action-letters are a temporary commitment on the part of the Authority and all competent authorities not to enforce market participant non- compliance with specific provisions of Union law where the market participant cannot comply with such provisions of Union law because of any of the following reasons: (a) compliance would place the market participant in breach of other legal and regulatory requirements of Union law; (b) compliance is reasonably impossible without further level 2 measures or level 3 guidance; (c) compliance would significantly distort conditions for neutral competition for the market participant in the Union in the context of the worldwide application of international standards. The Authority shall provide the time- limited no-action-letter to the requestor based on the specific facts and circumstances set forth in the request. The Authority may permit parties other than the requestor to rely on the time- limited no-action-letter to the extent that the third party’s facts and circumstances are substantially similar to those described in the underlying request. The Authority shall make all no-action- letters public. The Authority shall review the decisions referred to in the first and second subparagraph at appropriate intervals and at least every 3 months. If a decision is not renewed after a three-month period, it shall automatically expire. A Member State may request the Authority to reconsider its decision. In that case, the Authority shall decide in accordance with the procedure set out in the second subparagraph of Article 44(1), whether it maintains its decision.
2018/09/19
Committee: ECON
Amendment 997 #
Proposal for a regulation
Article 3 – paragraph 1 – point 7 – point d
Regulation (EU) No 1095/2010
Article 16 – paragraph 5 – subparagraph 1
5. Where two thirdshe majority of the members of the Securities and Markets Stakeholder Group are of the opinion that the Authority has exceeded its competence by issuing certain guidelines or recommendations, they may send a reasoned opinion to the Commission.
2018/09/19
Committee: ECON
Amendment 1002 #
Proposal for a regulation
Article 3 – paragraph 1 – point 9 – point a
Regulation (EU) No 1095/2010
Article 19 – paragraph 1 – subparagraph 1 – introductory part
1. In cases specified in the Union acts referred to in Article 1(2) and without prejudice to the powers laid down in Article 17, the Authority may assist the competent authorities in reaching an agreement in accordance with the procedure set out in paragraphs 2 to 4 in either of the following circumstances:
2018/09/19
Committee: ECON
Amendment 1003 #
Proposal for a regulation
Article 3 – paragraph 1 – point 9 – point a
Regulation (EU) No 1095/2010
Article 19 – paragraph 1 – subparagraph 2
In cases where theUnion acts referred to in Article 1(2) require a joint decision to be taken by competent authorities, a disagreement shall be presumed in the absence of a joint decision being taken by those authorities within the time limits set out in those acts.;
2018/09/19
Committee: ECON
Amendment 1004 #
Proposal for a regulation
Article 3 – paragraph 1 – point 9 – point b
Regulation (EU) No 1095/2010
Article 19 – paragraph 1 a – point a
(a) where a time limit for reaching an agreement between competent authorities has been provided for in the Union acts, referred to in Article 1(2), and the earlier of the following occurs :
2018/09/19
Committee: ECON
Amendment 1005 #
Proposal for a regulation
Article 3 – paragraph 1 – point 9 – point b
Regulation (EU) No 1094/2010
Article 19 –paragraph 1 a – point b
(b) where no time limit for reaching an agreement between competent authorities has been provided in the Union acts referred to in Article 1(2) , and the earlier of the following occurs:
2018/09/19
Committee: ECON
Amendment 1006 #
Proposal for a regulation
Article 3 – paragraph 1 – point 9 – point b
Regulation (EU) No 1095/2010
Article 19 – paragraph 1 b – subparagraph 2
Pending the Authority's decision in accordance with the procedure set out in Article 47(3a), in cases where the acts referred to in Article 1(2)Union acts require a joint decision to be taken, all competent authorities involved in the joint decision shall defer their individual decisions. Where the Authority decides to act, all the competent authorities involved in the joint decision shall defer their decisions until the procedure set out in paragraphs 2 and 3 is concluded.";
2018/09/19
Committee: ECON
Amendment 1007 #
Proposal for a regulation
Article 3 – paragraph 1 – point 9 – point b a (new)
Regulation (EU) No 1095/2010
Article 19 – paragraph 2
(ba) Paragraph 2 is replaced by the following: 2. The Authority shall set a time limit for conciliation between the competent authorities taking into account any relevant time periods specified in the acts referred to in Article 1(2)Union acts and the complexity and urgency of the matter. At that stage the Authority shall act as a mediator.
2018/09/19
Committee: ECON
Amendment 1015 #
Proposal for a regulation
Article 3 – paragraph 1 – point 11 – point a a (new)
Regulation (EU) No 1095/2010
Article 29 – paragraph 2 – subparagraph 1
(aa) Paragraph 2 is replaced by the following: ‘2. The Authority may, as appropriate, develop new practical instruments and convergence tools, such as question-and- answer tools, to promote common supervisory approaches and practices., taking into account stakeholder contributions in the case where instruments and convergence tools can have a significant impact on the market.’
2018/09/19
Committee: ECON
Amendment 1019 #
Proposal for a regulation
Article 3 – paragraph 1 – point 11 – point b a (new)
Regulation (EU) No 1095/2010
Article 29 – paragraph 2 a (new)
(ba) a new paragraph 2a is inserted: ‘2a. The competent authorities shall confirm whether or not they comply with the ‘question-and-answer’ tools. If one or more authorities do not comply with them, they must inform the Authority and state the reasons why they do not comply. The Authority shall publish the reasons given, after having informed the competent authority or authorities of such publication.’
2018/09/19
Committee: ECON
Amendment 1021 #
Proposal for a regulation
Article 3 – paragraph 1 – point 12
Regulation (EU) No 1095/2010
Article 29 a – paragraph 1 – subparagraph 1
1. Competent authorities shall identify and inform the Authority about supervisory activities that should be prioritised in order to address relevant micro-prudential trends, potential risks and vulnerabilities. Upon the entry into application of Regulation [XXX insert reference to amending Regulation] and every three years thereafter by 31 March, based on the contributions from competent authorities, the Authority shall issue a recommendation addressed to competent authorities, laying down supervisory strategic objectives and priorities ("Strategic Supervisory Plan") and, taking into account any contributions from competent authorities,. The Authority shall transmit the Strategic Supervisory Plan for information to the European Parliament, the Council and the Commission and shall make it public on its website.
2018/09/19
Committee: ECON
Amendment 1022 #
Proposal for a regulation
Article 3 – paragraph 1 – point 12
Regulation (EU) No 1095/2010
Article 29 a – paragraph 1 – subparagraph 2
The Strategic Supervisory Plan shall identify specific priorities for supervisory activities in order to promote consistent, efficient and effective supervisory practices and the common, uniform and consistent application of Union law and to address relevant micro-prudential trends, potential risks and vulnerabilities identified in accordance with Article 32. This strategic plan does not in any way prevent the competent authorities from defining in their draft annual work programme the risks specific to their jurisdiction, in particular with regard to investor protection.
2018/09/19
Committee: ECON
Amendment 1023 #
Proposal for a regulation
Article 3 – paragraph 1 – point 13 – point a
Regulation (EU) No 1095/2010
Article 30 – title
RPeer reviews of competent authorities;
2018/09/19
Committee: ECON
Amendment 1024 #
Proposal for a regulation
Article 3 – paragraph 1 – point 13 – point b
Regulation (EU) No 1095/2010
Article 30 – paragraph 1
1. The Authority shall periodically conduct peer reviews of some or all of the activities of competent authorities, to further strengthen consistency in supervisory outcomes. To that end, the Authority shall develop methods to allow for objective assessment and comparison between the competent authorities reviewed. When conducting peer reviews, existing information and evaluations already made with regard to the competent authority concerned, including all information provided to the Authority in accordance with Article 35, and any information from stakeholders shall be taken into account.;
2018/09/19
Committee: ECON
Amendment 1025 #
Proposal for a regulation
Article 3 – paragraph 1 – point 13 – point c
Regulation (EU) No 1095/2010
Article 30 – paragraph 1 a
1a. For the purposes of this Article, the Authority shall establish a peer review committee, exclusively composed of staff from the Authority and the competent authorities. The Authority may delegate certain tasks or decisions related to reviews of competent authorities to the review committee.;
2018/09/19
Committee: ECON
Amendment 1026 #
Proposal for a regulation
Article 3 – paragraph 1 – point 13 – point c
Regulation (EU) No 1095/2010
Article 30 – paragraph 1 a
1a. For the purposes of this Article, the Authority shall establish a review committee, exclusively composed of staff from the Authority and competent authorities. The Authority may delegate certain tasks or decisions related to reviews of competent authorities to the review committee.;
2018/09/19
Committee: ECON
Amendment 1027 #
Proposal for a regulation
Article 3 – paragraph 1 – point 13 – point d – point i
The peer review shall include an assessment of, but shall not be limited to:;
2018/09/19
Committee: ECON
Amendment 1028 #
Proposal for a regulation
Article 3 – paragraph 1 – point 13 – point d – point ii a (new)
Regulation (EU) No 1095/2010
Article 30 – paragraph 2 – point b
(iia) point (b) is amended as follows: ‘(b) the degree of convergence reached in the application of Union law and in supervisory practice, including regulatory technical standards and implementing technical standards, guidelines and recommendations adopted under Articles 10 to 16 and Article 29(2), and the extent to which the supervisory practice achieves the objectives set out in Union law;
2018/09/19
Committee: ECON
Amendment 1029 #
Proposal for a regulation
Article 3 – paragraph 1 – point 13 – point e
Regulation (EU) No 1095/2010
Article 30 – paragraph 3 – subparagraph 1
3. The Authority shall produce a report setting out the results of the peer review. That report shall explain and indicate the follow-up measures that are foreseen as a result of the peer review. Those follow-up measures may be adopted in the form of guidelines and recommendations pursuant to Article 16 and opinions pursuant to Article 29(1)(a).
2018/09/19
Committee: ECON
Amendment 1030 #
Proposal for a regulation
Article 3 – paragraph 1 – point 13 – point f
Regulation (EU) No 1095/2010
Article 30 – paragraph 3 a
3a. The Authority shall submit an opinion to the Commission where, having regard to the outcome of the peer review or to any other information acquired by the Authority in carrying out its tasks, it considers further harmonisation of the rules applicable to financial market participants or competent authorities would be necessary.;
2018/09/19
Committee: ECON
Amendment 1031 #
Proposal for a regulation
Article 3 – paragraph 1 – point 13 – point g
Regulation (EU) No 1095/2010
Article 30 – paragraph 4
4. The Authority shall publish the report referred to in paragraph 3 including any follow-up report, unless publication would involve risks to the stability of the financial system. The competent authority that is subject to the peer review shall be invited to comment before the publication of any report. Those comments shall be made publicly available unless publication would involve risks to the stability of the financial system.";
2018/09/19
Committee: ECON
Amendment 1036 #
Proposal for a regulation
Article 3 – paragraph 1 – point 15
Regulation (EU) No 1095/2010
Article 31 a – paragraph 2 – subparagraph 1
2. The competent authorities shall notify the Authority where they intend to carry out an authorisation or registration related to a financial market participant which is under supervision of the competent authority concerned in accordance with the acts referred to in Article 1(2) and where the business plan of the financial market participant entails the outsourcing or delegation of a material part of its activities or any of the key functions or the risk transfer of a material part of its activities into third countries, to benefit from the EU passport while essentially performing substantial activities or functions outside the Union. The notification to the Authority shall be sufficiently detailed to allow for a proper assessment by the Authority.
2018/09/19
Committee: ECON
Amendment 1038 #
Proposal for a regulation
Article 3 – paragraph 1 – point 15
Regulation (EU) No 1095/2010
Article 31 a – paragraph 2 – subparagraph 2
Where the Authority considers it necessary to issue an opinion to a competent authority regarding the non- compliance of an authorisation or registration notified pursuant to the first subparagraph with Union law or guidelines, recommendations or opinions adopted by the Authority, the Authority shall inform that competent authority thereof within 20 working days of the receipt of the notification by that competent authority. In that case the competent authority concerned shall await the opinion of the Authority before carrying out the registration or authorisation.deleted
2018/09/19
Committee: ECON
Amendment 1040 #
Proposal for a regulation
Article 3 – paragraph 1 – point 15
Regulation (EU) No 1095/2010
Article 31 a – paragraph 2 – subparagraph 3
At the request of the Authority, the competent authority shall within 15 working days of the receipt of such a request provide information related to its decisions to authorise or register a financial market participant which is under its supervision in accordance with the acts referred to in Article 1(2).deleted
2018/09/19
Committee: ECON
Amendment 1041 #
Proposal for a regulation
Article 3 – paragraph 1 – point 15
Regulation (EU) No 1095/2010
Article 31 a – paragraph 2 – subparagraph 4
The Authority shall issue the opinion, without prejudice to any time limits set out in Union law, at the latest within 2 months of the receipt of the notification pursuant to the first subparagraph.deleted
2018/09/19
Committee: ECON
Amendment 1046 #
Proposal for a regulation
Article 3 – paragraph 1 – point 15
Regulation (EU) No 1095/2010
Article 31 a – paragraph 4
4. The Authority may issue recommendations to the competent authority concerned, including recommendations to review a decision or to withdraw an authorisation. Where the competent authority concerned does not follow the recommendations of the Authority within 15 working days, the competent authority shall state the reasons and the Authority shall make its recommendation public together with those reasons.;deleted
2018/09/19
Committee: ECON
Amendment 1050 #
Proposal for a regulation
Article 3 – paragraph 1 – point 18 – point a
Regulation (EU) No 1095/2010
Article 33 – paragraph 2
2. The Authority shall systematically assist the Commission in preparing equivalence decisions pertaining to regulatory and supervisory regimes in third countries following a specific request for advice from the Commission or where required to do so by the acts referred to in Article 1(2).;
2018/09/19
Committee: ECON
Amendment 1052 #
Proposal for a regulation
Article 3 – paragraph 1 – point 18 – point b
Regulation (EU) No 1095/2010
Article 33 – paragraph 2 a – subparagraph 1
2a. The Authority shall monitor the regulatory and supervisory developments and enforcement practices and relevant market developments in third countries for which equivalence decisions have been adopted by the Commission pursuant to the acts referred to in Article 1(2) in order to verify whether the criteria, on the basis of which those decisions have been taken and any conditions set out therein, are still fulfilled with a particular focus on third country prospectuses, benchmarks, trading venues, credit rating agencies and central securities depositories. It shall take into account the market relevance of the third countries concerned. The Authority shall submit a confidential report on its findings to the Commission on an annual basis
2018/09/19
Committee: ECON
Amendment 1063 #
Proposal for a regulation
Article 3 – paragraph 1 – point 23 – point -a (new)
Regulation (EU) No 1095/2010
Article 37 – paragraph 3
(-a) paragraph 3 is replaced by the following: 3. The members of the Securities and Markets Stakeholder Group shall be appointed by the Board of Supervisors, following proposals from the relevant stakeholders. In making its decision, the Board of Supervisors shall, to the extent possible, ensure an appropriate geographical and gender balance and representation of stakeholders across the Union. The selection process should be fully transparent.
2018/09/19
Committee: ECON
Amendment 1064 #
Proposal for a regulation
Article 3 – paragraph 1 – point 23 – point a
Regulation (EU) No 1095/2010
Article 37 – paragraph 4 – subparagraph 1
(a) in paragraph 4 the last sentence of the first subparagraph is replaced by the following:, subparagraph 1 is replaced by the following: 4. The Authority shall provide all necessary information, subject to professional secrecy, as set out in Article 70, and ensure adequate secretarial support for the Securities and Markets Stakeholder Group. Adequate compensation shall be provided to members of the Securities and Markets Stakeholder Group that are representing non-profit organisations, excluding industry representatives. This compensation shall take into account the members' preparatory and follow-up work and shall be at least equivalent to the reimbursement rates of officials pursuant to Title V, Chapter 1, Section 2 of the Staff Regulations of Officials of the European Union and the Conditions of Employment of Other Servants of the European Union laid down in Council Regulation (EEC, Euratom, ECSC) No 259/68 (1) (Staff Regulations). The Securities and Markets Stakeholder Group may establish working groups on technical issues. Members of the Securities and Markets Stakeholder Group shall serve for a period of fourive years, following which a new selection procedure shall take place.;
2018/09/19
Committee: ECON
Amendment 1066 #
Proposal for a regulation
Article 3 – paragraph 1 – point 23 – point b a (new)
Regulation (EU) No 1095/2010
Article 37 – paragraph 7
(ba) paragraph 7 is replaced by the following: ‘7. The Authority shall make public the opinions and advice of the Securities and Markets Stakeholder Group and the results of its consultations. as well as how these opinions, advice and results of consultations were taken into account by the Authority.’
2018/09/19
Committee: ECON
Amendment 1068 #
Proposal for a regulation
Article 3 – paragraph 1 – point 25 – point a – point -i (new)
Regulation (EU) No 1095/2010
Article 40 –paragraph 1 – point a
(a) the Chairperson, who shall be non- voting;-i) point (a) is replaced by the following: ‘(a) the Chairperson;’
2018/09/19
Committee: ECON
Amendment 1069 #
Proposal for a regulation
Article 3 – paragraph 1 – point 25 – point a – point i
Regulation (EU) No 1095/2010
Article 40 –paragraph 1 – point a a
(aa) the full time members of the Executive Board referred to Article 45(1), who shall be non-voting;;
2018/09/19
Committee: ECON
Amendment 1070 #
Proposal for a regulation
Article 3 – paragraph 1 – point 27
Regulation (EU) No 1095/2010
Article 41 – paragraph 1
The Board of Supervisors may establish internal committees for specific tasks and decisions attributed to it. The Board of Supervisors may provide for the delegation of certain clearly defined tasks and decisions to internal committees, to the Executive Board, to a full-time member of the Executive Board, or to the Chairperson.;
2018/09/19
Committee: ECON
Amendment 1073 #
Proposal for a regulation
Article 3 – paragraph 1 – point 30 – point -a (new)
Regulation (EU) No 1095/2010
Article 44 – paragraph 1 – subparagraph 1
(-a) in paragraph 1, subparagraph 1 is replaced by the following ‘1. Decisions of the Board of Supervisors shall be taken by a simple majority of its members. Each member shall have one vote. In the event of a tie, the Chairperson shall have a casting vote.’
2018/09/19
Committee: ECON
Amendment 1074 #
Proposal for a regulation
Article 3 – paragraph 1 – point 30 – point -a a (new)
Regulation (EU) No 1095/2010
Article 44 – paragraph 1 – subparagraph 2
(-aa) in paragraph 1, subparagraph 2 is replaced by the following: ‘With regard to the acts specified in Articles 10 to 16 and measures and decisions adopted under the third subparagraph of Article 9(5) and the last subparagraph of Article 9(6) and Chapter VI and by way of derogation from the first subparagraph of this paragraph, the Board of Supervisors shall take decisions on the basis of a qualified majority of its members, as defined in Article 16(4) of the Treaty on European Union and in Article 3 of the Protocol (No 36) on transitional provisions.
2018/09/19
Committee: ECON
Amendment 1075 #
Proposal for a regulation
Article 3 – paragraph 1 – point 30 – point a
Regulation (EU) No 1095/2010
Article 44 – paragraph 1 – subparagraph 2 – 2nd sentence
The full time members of the Executive Board and the Chairperson shall not vote on those decisions.;deleted
2018/09/19
Committee: ECON
Amendment 1076 #
Proposal for a regulation
Article 3 – paragraph 1 – point 30 – point b
Regulation (EU) No 1095/2010
Article 44 – paragraph 1 – subparagraphs 3 and 4
(b) in paragraph 1, the third and fourth sub-paragraphs are deleted.
2018/09/19
Committee: ECON
Amendment 1077 #
Proposal for a regulation
Article 3 – paragraph 1 – point 32
Regulation (EU) No 1095/2010
Article 45 – paragraph 1
1. The Executive Board shall be composed of the Chairperson and fivthree full time members. The Chairperson shall assign clearly defined policy and managerial tasks to each of the full time members. One of the as fuoll timows: (a) one members shall be assigned responsibilities for budgetary matters and for matters relating to the work programme of the Authority ("Member in charge"). One of the full time members shall; (b) one member shall be assigned responsibilities for convergence of supervisory powers, chair, in particular, the peer review committee and act as a Vice Chairperson and carry out the tasks of the Chairperson in his or her absence or reasonable impediment, in accordance with this Regulation. The Head of the CCP Executive Session shall participate as observer to all meetings of; (c) one member shall chair the CCP Executive BoardSession.
2018/09/19
Committee: ECON
Amendment 1081 #
Proposal for a regulation
Article 3 – paragraph 1 – point 32
Regulation (EU) No 1095/2010
Article 45 – paragraph 2 – subparagraph 1
The full time members shall be selected on the basis of merit, skills, knowledge of financial market participants and markets, and experience relevant to financial supervision and regulation. The full time members shall have extensive management experience. At least one of the full time members should during the three years prior to being appointed not have been employed by a competent authority. The selection shall be based on an open call for candidates, to be published in the Official Journal of the European Union, following which the Commission shall draw up a shortlist of qualified candidates.
2018/09/19
Committee: ECON
Amendment 1086 #
Proposal for a regulation
Article 3 – paragraph 1 – point 33
Regulation (EU) No 1095/2010
Article 45 a – paragraph 4 – subparagraph 2
The Executive Board shall meet prior to every meeting of the Board of Supervisors and as often as the Executive Board deems necessary. It shall meet at least five24 times a year.
2018/09/19
Committee: ECON
Amendment 1090 #
Proposal for a regulation
Article 3 – paragraph 1 – point 36
4. The Executive Board shall examine and prepare decisions for adoption by the Board of Supervisors on all matters where acts referred to in Article 1(2) have conferred functions of authorisation or supervision and corresponding powers upon the Authority.4. The Executive Board shall adopt the Authority’s staff policy planprogramming document and, pursuant to Article 68(2), the necessary implementing measures of the Staff Regulations of Officials of the European Communities ('the Staff Regulations’).
2018/09/19
Committee: ECON
Amendment 1097 #
Proposal for a regulation
Article 3 – paragraph 1 – point 46 – point a a (new)
Regulation (EU) No 1095/2010
Article 62 – paragraph 1 a (new)
(aa) the following paragraph 1a is inserted: ‘1a. The revenue received by the Authority shall not compromise its independence or objectivity.’
2018/09/19
Committee: ECON
Amendment 1098 #
Proposal for a regulation
Article 3 – paragraph 1 – point 46 – point a b (new)
Regulation (EU) No 1095/2010
Article 62 – paragraph 4 – subparagraph 1 a (new)
(ab) in paragraph 4, the following subparagraph is added: ‘Estimates shall be based on the objectives and the expected results of the annual work programme referred to in Article 47(2) and shall take into account the financial resources necessary to achieve those objectives and expected results, in accordance with the principle of performance based budgeting.’
2018/09/19
Committee: ECON
Amendment 1177 #
Proposal for a regulation
Article 9 – paragraph 1 – point 10
Regulation (EU) 2017/1129
Article 31a – paragraph 1 – point a
(a) prospectuses drawn up by any legal entity or person established in the Union and relating to the admission to trading on a regulated market of non-equity securities, which are to be traded only on a regulated market, or a specific segment thereof, to which only qualified investors can have access fose denomination per unit amounts to at least EUR 100000, to trading on regulated markets in more the purposes of trading such securities;an one Member State;
2018/09/19
Committee: ECON
Amendment 1178 #
Proposal for a regulation
Article 9 – paragraph 1 – point 10
Regulation (EU) 2017/1129
Article 31a – paragraph 1 – point b
(b) prospectuses drawn up by any legal entity or person established in the Union and relating to the trading of asset backed securities in more than one Member State;
2018/09/19
Committee: ECON