Activities of Gianni PITTELLA

Motion for a resolution
Annex – paragraph 2 – indent 3

– amending Article 45 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010 and transforming the Management Boards of the three ESAs into independent bodies, staffed by ~~three professionals with a European mandate, appointed by the European~~six independent and highly-qualified individuals, including the Chairman, appointed by the Council after binding opinion of the Parliament,; the cChair~~perso~~man of the ~~ESAs and the executive directors and granting the members of~~Management Board shall coincide with the Chairman of the Board of Supervisors and have a casting vote both in the Management Board ~~the right to vote o~~and in the Board of Supervisors;

2014/01/15
Committee: ECON

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 3 a (new)

– amending Article 40 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010 and modifying the composition of the Board of Supervisors which should be composed of the head of the national competent authorities plus the 6 members of the Management Board;

2014/01/15
Committee: ECON

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 11 a (new)

– giving the ESRB the power to issue a warning directly to systemically important financial institutions. The disclosure of the private warnings and recommendations to the public shall be decided by the ESRB after having informed the Council;

2014/01/15
Committee: ECON

2013/2166(INI)

Motion for a resolution
Annex – paragraph 2 – indent 18

– enhancing transparency of stakeholder involvement and potential conflicts of interest and developing a stricter regime on cooling-off periods; peer review evaluation and recommendations addressed by ESAs to competent authorities based on Article 17(3) of the Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010 should be disclosed publicly;

2014/01/15
Committee: ECON

2013/2166(INI)

Motion for a resolution
Annex – paragraph 3 – indent 1

– whether the current model of three separate supervisory authorities is the best solution for coherent supervision; and the viability of models such as the “3-peaks model” designed by objective of regulation (macro-stability, micro- stability, investor protection) might be explored;

2014/01/15
Committee: ECON

2013/2166(INI)

Motion for a resolution
Annex – paragraph 3 – indent 2

– whether the ESAs should receive more power in direct supervision over entities with Community-wide reach and systemic institutions such as central counterparties and large cross-border insurance undertakings;

2014/01/15
Committee: ECON

2013/2166(INI)

Leonardo DOMENICI, Peter SIMON, Udo BULLMANN, Gianni PITTELLA

Motion for a resolution
Annex – paragraph 3 – indent 5

– whether the emergency powers of the ESAs should be ~~maintained.~~facilitated by amending Article 18 of the Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010;

2014/01/15
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 2 – paragraph 1 – point a

(a) credit institutions ~~established in participating Member State~~directly 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

2013/0253(COD)

Proposal for a regulation
Article 2 a (new)

Article 2a Cooperation within the SRM 1. The Commission, the Board and national resolution authorities shall carry out their tasks within a single resolution mechanism in accordance with their fields of competence under the rules of BRRD and this Regulation. 2. The Commission, the Board and national resolution authorities shall be subject to a duty of cooperation in good faith, an obligation to exchange information and converge to consistent resolution practices. 3. The Commission shall exercise oversight over the functioning of the mechanism based on the responsibilities and procedure set out in this Regulation.

2013/10/22
Committee: ECON

2013/0253(COD)

Leonardo DOMENICI, Peter SIMON, Udo BULLMANN, Gianni PITTELLA

Proposal for a regulation
Article 5 – paragraph 1

1. W~~here, by virtue~~ithout prejudice to Article 2 of this Regulation, the Commission or the Board exercises tasks or powers, which, according to Directive [ ] are to be exercised by the national resolution authority of a participating Member State, the Board shall, for the application of this Regulation and Directive [ ], be considered to be the relevant national resolution authority or, in case of cross-border group resolution, the relevant group national resolution authority.

2013/10/22
Committee: ECON

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

2013/0253(COD)

Proposal for a regulation
Article 5 – paragraph 3 a (new)

3a. National resolution authority shall inform the Commission and the Board on measures taken or the measures it intends to take pursuant paragraph 3 of this article.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 9 – paragraph 1

1. The Board~~, on its own initiative or upon proposal by a national resolution authority,~~ may apply simplified obligations in relation to the drafting of resolution plans referred to, in Article 7 or may waive the obligation of drafting those plans.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Part 3 – title 5 – chapter 2 – title

The Single ~~Bank~~ Resolution F~~und~~inancing Mechanism

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 64 – paragraph 1

1. The ~~Single B~~Europeank Resolution Fund for Institutions with systemic relevance is hereby established.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 64 a (new)

Article 64 a The Single Resolution Financing Mechanism 1. The Single Resolution Financing Mechanism is composed by: (i) National resolution funds established under BRRD, for financial institutions not directly supervised by the ECB as referred to in art. 6 paragraph 4 of Council Regulation (EU) [ ] conferring specific tasks on the ECB concerning policies relating to the prudential supervision of credit institutions; (ii) The European resolution fund established under this Regulation, for entities directly supervised by the ECB or included in the scope of this Regulation as referred to in Art. 2 2. In case of a systemic shock in a participating Member State or where a National resolution fund has available financial resources less than what will be needed to finance an impending resolution, rules set out in Art. 97 and 103 of the BRRD shall be applied.

2013/10/22
Committee: ECON

2013/0253(COD)

Leonardo DOMENICI, Peter SIMON, Udo BULLMANN, Gianni PITTELLA

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% of the amount of deposits of all credit institutions ~~authorised~~subject to this Regulation as referred to in Art. 2 in the participating Member States which are guaranteed under Directive 94/19/EC.

2013/10/22
Committee: ECON

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 ~~authorised~~subject to this Regulation as referred to in Article 2 in the territories of the participating Member States.

2013/10/22
Committee: ECON

2013/0253(COD)

Leonardo DOMENICI, Peter SIMON, Udo BULLMANN, Gianni PITTELLA

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 ~~authorised~~subject 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

2012/2151(INI)

Motion for a resolution
Annex – part 1 – point 1.3 – paragraph 6 a (new)

The ESM should recapitalise banks directly as soon as regulation on the SSM has been approved.

2012/10/02
Committee: ECON

2012/2068(INI)

Motion for a resolution
Paragraph 5

5. Reiterates the importance of the digital and media literacy and skills of minors being considered as a priority in the Union’s social policy and as a crucial component of the Europe 2020 Strategy;

2012/05/10
Committee: CULT

2012/2068(INI)

Motion for a resolution
Paragraph 6 bis (new)

6a. Encourages Member States to support schools in developing the ability among children to test and produce quality online and offline products and services;

2012/05/10
Committee: CULT

2012/2068(INI)

Motion for a resolution
Paragraph 7

7. Encourages the Commission to support the access of minors to safe and high quality digital content in existing and new programmes and services in the digitial world, dedicated to young people, and education ~~and the digital world~~, maintaining financing programmes, such as the Safer Internet Programme;

2012/05/10
Committee: CULT

2012/2068(INI)

Motion for a resolution
Paragraph 22

22. Underlines that digital citizenship is an essential element in European citizenship, in order to ~~create~~mould knowledgeable citizens who are protagonists in digital democracy processes, and to encourage the creation of a ‘digital skills’ module for Europass as part of the EU Youth Strategy;

2012/05/10
Committee: CULT

2012/0366(COD)

Proposal for a directive
Article 2 – paragraph 1 – point 23 – point i (new)

(i) ‘reduced-risk tobacco product’ means a novel tobacco product with a limited effect on health as attested by scientific evidence;

2013/05/14
Committee: ENVI

2012/0366(COD)

Proposal for a directive
Article 17 – title

Notification of novel tobacco products including reduced-risk tobacco products

2013/05/14
Committee: ENVI

2012/0366(COD)

Proposal for a directive
Article 17 – paragraph 1 – introductory part

1. Member States shall require that manufacturers and importers of tobacco products notify the competent authorities of Member States of any novel tobacco product, including reduced-risk products, they intend to place on the markets of the Member States concerned. The notification shall be submitted in electronic form six months before the intended placing on the market and shall be accompanied by a detailed description of the product in question as well as information on ingredients and emissions in accordance with Article 5. The manufacturers and importers notifying a novel tobacco product, including reduced-risk products, shall also provide the competent authorities in question with:

2013/05/14
Committee: ENVI

2012/0366(COD)

Proposal for a directive
Article 17 – paragraph 2

2. Member States shall require that manufacturers and importers of tobacco products inform their competent authorities of any new or updated information referred to in point (a) to (c) of paragraph 1. Member States shall be entitled to require tobacco manufacturers or importers to carry out additional tests or submit additional information. Member States shall make available to the Commission all information received pursuant to this Article. Member States shall be entitled to introduce an authorisation system and charge a proportionate fee. Before granting authorisation to place a novel product, including reduced-risk products, on the market, Member States shall establish and render mandatory: the standards applicable to their marketing and the types of information provided to the public, focusing on the characteristics apt to markedly reducing the risk of contracting one or more tobacco-related diseases.

2013/05/14
Committee: ENVI

2012/0299(COD)

Gianni PITTELLA, George Sabin CUTAȘ

Proposal for a directive
Article 5 – paragraph 3 a (new)

3a. Member States may provide that the objective laid down in Article 4 (1) is met where listed companies can show that members of the under-represented sex hold at least one third of all director positions, irrespective of whether they are executive or non executive.

2013/05/13
Committee: ECON

2012/0242(CNS)

Proposal for a regulation
Article 2 – paragraph 1 – point 6 a (new)

(6a) "Single Supervisory Mechanism (SSM)" means a European federal system of financial supervision composed by the European Central Bank and national competent authorities.

2012/10/30
Committee: ECON

2012/0242(CNS)

Gianni PITTELLA, George Sabin CUTAȘ

Proposal for a regulation
Article 4 – title

Tasks conferred on the ~~ECB~~SSM

2012/10/30
Committee: ECON

2012/0242(CNS)

Proposal for a regulation
Article 4 – paragraph 1 – introductory part

1. The ~~ECB~~SSM shall, in accordance with the relevant provisions of Union law, be exclusively competent to carry out, for prudential supervisory purposes, the following tasks in relation to all credit institutions established in the participating Member States:, with a sharing of tasks between the ECB and national competent authorities on the basis of Article 5 and with the ECB having ultimate decision powers.

2012/10/30
Committee: ECON

2012/0242(CNS)

Proposal for a regulation
Article 4 – paragraph 1 – point i

(i) To carry out supervision on a consolidated basis over credit institutions' parents established in one of the participating Member States, including over financial holding companies and mixed financial holding companies, and to participate in supervision on a consolidated basis, including in colleges of supervisors, in relation to parents not established in one of the participating Member State; national competent authorities will participate in colleges of supervisors under the lead of the ECB;

2012/10/30
Committee: ECON

2012/0242(CNS)

Proposal for a regulation
Article 5 – title

~~National authorities~~Role of the ECB and national authorities in the Single Supervisory Mechanism

2012/10/30
Committee: ECON

2012/0242(CNS)

Proposal for a regulation
Article 5 – paragraph 1

1. The ECB shall carry out its tasks within ~~a s~~the Single sSupervisory mMechanism ~~composed of the ECB and national competent authorities~~(SSM).

2012/10/30
Committee: ECON

2012/0242(CNS)

Proposal for a regulation
Article 5 – paragraph 2

2. National competent authorities shall ~~assist the ECB on its request with~~cooperate with the ECB within the SSM concerning the preparation and implementation of any acts relating to the tasks referred to in Article 4.

2012/10/30
Committee: ECON

2012/0242(CNS)

Proposal for a regulation
Article 5 – paragraph 3

3. The ~~ECB~~SSM shall organise the practical modalities of implementation of paragraph 2 by the national supervisory authorities ~~in discharging its tasks. It~~. The SSM shall clearly define the framework and conditions under which the ECB and national competent authorities shall carry out ~~those activities.~~ supervisory activities, based on the systemic importance of credit institutions and on the nature of supervisory tasks, both to be defined by the supervisory board established under Article 19.

2012/10/30
Committee: ECON

2012/0242(CNS)

Silvia COSTA, Gianni PITTELLA

Proposal for a regulation
Article 5 – paragraph 4

~~4. National competent authorities shall follow the instructions given by the ECB.~~deleted

2012/10/30
Committee: ECON

Proposal for a regulation
Article 12 – point h

2012/10/26
Committee: CULT

2011/0370(COD)

Proposal for a regulation
Article 12 – point i

(i) ~~support~~ activities ~~aiming at increasing knowledge and interest of audience~~designed to increase audiences' knowledge and interest, active participation through social media and audiovisual content-sharing of European audiovisual works;

2012/10/26
Committee: CULT

2011/0361(COD)

Proposal for a regulation
Recital 5

(5) In the medium term, further actions should be evaluated to take ratings out of financial regulation and to eliminate risk- weighting of assets through external ratings or internal models. However, for the time being Credit rating agencies are important participants in the financial markets. As a consequence, the independence and integrity of credit rating agencies and their credit rating activities are of particular importance to guarantee their credibility vis-à-vis market participants, in particular investors and other users of ratings. Regulation 1060/2009 provides that credit rating agencies have to be registered and supervised as their services have considerable impact on the public interest. Credit ratings, unlike investment research, are not mere opinions about a value or a price for a financial instrument or a financial obligation. Credit rating agencies are not mere financial analysts or investment advisors. Credit ratings have regulatory value for regulated investors, such as credit institutions, insurance companies and other institutional investors. Although the incentives to excessively rely on credit ratings are being reduced, credit ratings still drive investment choices, notably because of information asymmetries and for efficiency purposes. In this context, credit rating agencies must be independent and perceived as such by market participants.

2012/04/17
Committee: ECON

Gianni PITTELLA, Mario MAURO

Proposal for a regulation – amending act
Recital 4

(4) The scope of the action of the European Supervisory Authority (European Securities and Markets Authority~~'s action~~) should be clearly defined so that financial market participants can identify the authority competent in the field of activity of credit rating agencies. The European Supervisory Authority (European Securities and Markets Authority) should ~~assume general~~be exclusively competencet in matters relating to the registration and on-going supervision of registered credit rating agencies.

2010/10/15
Committee: ECON

Motion for a resolution
Paragraph 13 a (new)

13a. Recalls the incontrovertible very positive performance, both in participation and implementation terms, of the different Erasmus pilot projects launched by Parliament over the past years (Erasmus apprentices, Erasmus young entrepreneurs, Erasmus secondary school, Erasmus public administration) as well as of the traditional Erasmus programme; confirms the need for the EU to further invest in this field; believes that a substantial increase of the global financial envelope allocated to all Erasmus lines is needed in order to considerably raise (up to 1 000 000 per year) the number of young people participating in the ‘European Erasmus policy’; is convinced that this measure is essential to respond correctly to the difficulties that Europe is encountering in its integration process as well as to help face the current economic crisis;

2009/02/17
Committee: BUDG

Proposal for a regulation
Article 9 – paragraph 4 – subparagraph 4

The ~~Authority and the~~ competent authorities shall provide the ~~Commission~~Authority with all necessary information.

2010/04/15
Committee: ECON

Proposal for a regulation
Article 9 – paragraph 7 – subparagraph 2

2010/04/15
Committee: ECON

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~~ESRB, upon its own initiative or following a request by the Authority, the Council, or the E~~SRB, may adopt a decision addressed to the Authority, determin~~uropean Parliament, or the Commission, may issue a warning declaring the existence of an emergency situation ~~for the purposes of this regulation~~. This warning will enable the Authority without further requirements to adopt the individual decisions referred to in paragraph 3.

2010/04/15
Committee: ECON

2009/0142(COD)

Proposal for a regulation
Article 10 – paragraph 2

2. Where the ~~Commission has adopted a decision pursuant to paragraph 1~~ESRB takes the view that co- ordinated action by national authorities is necessary to respond to adverse developments which may jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system, the Authority ~~may~~shall adopt individual decisions requiring competent authorities to take the necessary action in accordance with the legislation referred to in Article 1(2) to address any ~~risks that may jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system~~such developments by ensuring that financial institutions and competent authorities satisfy the requirements laid down in that legislation.

2010/04/15
Committee: ECON

2009/0142(COD)