Activities of José GUSMÃO related to 2020/0154(COD)
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) 2016/1011 as regards the exemption of certain third country foreign exchange benchmarks and the designation of replacement benchmarks for certain benchmarks in cessation
Amendments (2)
Amendment 16 #
Proposal for a regulation
Recital 8
Recital 8
(8) The Commission should exercise its implementing powers only in situations where it assesses that the cessation of a benchmark may result in negative consequences that produce significant disruption in the functioning of financial markets in the Unionand the real economy in the Union entailing potential risks of socialisation of private losses. The Commission should also exercise its implementing powers only where it has become clear that the representativeness of the benchmark concerned cannot be restored or that the benchmark will no longer be published on a permanent basis.
Amendment 32 #
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) 2016/1011
Article 23a – paragraph 1 – introductory part
Article 23a – paragraph 1 – introductory part
(1) The Commission may designate a replacement benchmark for a benchmark that will cease to be published where the cessation of that publication may result in significant disruption in the functioning of financial markets and the real economy in the Union and provided that any of the following events has occurred: