BETA

7 Amendments of Neena GILL related to 2018/0048(COD)

Amendment 177 #
Proposal for a regulation
Recital 40
(40) It is important to effectively and efficiently ensure compliance with the requirements for authorisation and for the provision of crowdfunding services, in accordance with this Regulation. ESMA should therefore be conferred competences to grant authorisation and exercise oversight. To enable ESMA to fulfil that supervisory mandate, it should be given the power to request information, carry out general investigations and on-site inspections, issue public notices and warnings and impose sanctions. ESMA should make use of its oversight and sanctioning competences in a proportionate manner.
2018/09/13
Committee: ECON
Amendment 180 #
Proposal for a regulation
Recital 41
(41) Granting those competences to ESMA allows for a more efficient and centrally managed authorisation and oversight, generating economies of scale. Such a central supervisory regime is beneficial to the market participants in terms of greater transparency, investor protection and market efficiency.deleted
2018/09/13
Committee: ECON
Amendment 182 #
Proposal for a regulation
Recital 42
(42) ESMA should charge fees on directly supervised entities to cover its costs, including overheads. The level of the fee should be proportionate to the size of a directly supervised entity, having regard to the early stage of development of the crowdfunding industry.deleted
2018/09/13
Committee: ECON
Amendment 241 #
Proposal for a regulation
Article 10 – paragraph 1
1. Any legal person that intends to providebecome a crowdfunding services provider shall apply to ESMAthe national competent authority of the Member State where it is established for authorisation as ato provide crowd funding service providers.
2018/09/13
Committee: ECON
Amendment 250 #
Proposal for a regulation
Article 10 – paragraph 4
4. ESMAThe national competent authority shall, within 230 working days of receipt of the application referred to in paragraph 1, assess whether that application is complete. Where the application is not complete, ESMAthe national competent authority shall set a deadline by which the prospective crowdfunding service provider is to provide the missing information.
2018/09/13
Committee: ECON
Amendment 256 #
Proposal for a regulation
Article 10 – paragraph 6
6. ESMAThe national competent authority shall, within twohree months from the receipt of a complete application, assess whether the prospective crowdfunding service provider complies with the requirements set out in this Regulation and shall adopt a fully reasoned decision granting or refusing authorisation as a crowdfunding service provider. ESMAThe national competent authority shall have the right to refuse authorisation if there are objective and demonstrable grounds for believing that the management of the crowdfunding service provider may pose a threat to its effective, sound and prudent management and business continuity and to the adequate consideration of the interest of its clients and the integrity of the market.
2018/09/13
Committee: ECON
Amendment 260 #
Proposal for a regulation
Article 10 – paragraph 7
7. ESMAThe national competent authority shall notify the prospective crowdfunding service provider of its decision within fivetwo working days after having taken that decision.
2018/09/13
Committee: ECON