Activities of José GUSMÃO related to 2021/0384(COD)
Shadow reports (1)
REPORT on the proposal for a directive of the European Parliament and of the Council amending Directive 2014/65/EU on markets in financial instruments
Amendments (3)
Amendment 18 #
Proposal for a directive
Recital 2 a (new)
Recital 2 a (new)
(2 a) Whereas the current most pressing issue is inflation, especially in energy and food sectors, the review of the Markets in Financial Instruments Directive (MIFID II) and regulation (MiFIR) should focus mainly in tackling market volatility and price speculation in those sectors; whereas the review proposal by the European Commission made in 2021, focused in market availability for investors, is therefore outdated and should be updated in a timely manner;
Amendment 19 #
Proposal for a directive
Recital 2 b (new)
Recital 2 b (new)
(2 b) Whereas “circuit breakers” are a temporary suspension of the activity by financial markets in order to have time for a orderly price clearing process; whereas recently ESMA recognized that trading venues rarely used it; whereas those mechanisms are only a temporary solution to a more systemic problem;
Amendment 20 #
Proposal for a directive
Recital 2 c (new)
Recital 2 c (new)
(2 c) Whereas the current moment calls for a deep discussion on the real economic benefit of derivatives based inessential commodities, such as food, energy and carbon emission allowances and more specifically when traded by agents with no commercial link to the sector; whereas traders of commodities, which registered record results in the first half of 2022, are a poorly supervised sector and often involved in tax evasion activities;