13 Amendments of Olle LUDVIGSSON related to 2011/0203(COD)
Amendment 54 #
Proposal for a directive
Recital 46
Recital 46
(46) The lack of monitoring by boards of management decisions is partly due to the phenomenon of group think. This phenomenon is, among other reasons, caused by a lack of diversity in boards' composition. To facilitate independent opinions and critical challenge, management bodies of institutions should therefore be sufficiently diverse as regards age, gender, geographical provenance, educational and professional background to present a variety of views and experiences. Gender balance is of particular importance to ensure adequate representation of population. Employee representation in management bodies should also, by adding a key perspective and genuine knowledge of the internal workings of the institutions, be seen as a positive way of enhancing diversity. More diverse boards should more effectively monitor management and therefore contribute to improved risk oversight and resilience of institutions. Therefore, diversity should be one of the criteria of board composition.
Amendment 55 #
Proposal for a directive
Recital 46 a (new)
Recital 46 a (new)
(46a) In order to strengthen legal compliance and corporate governance, Member States should establish effective and reliable mechanisms to encourage reporting to competent authorities of potential or actual breaches of the provisions of Regulation (EU) No .../2012 of the European Parliament and of the Council of ... [on prudential requirements for credit institutions and investment firms] and of national provisions implementing this Directive. Employees reporting breaches committed within their own institutions should be well protected and have full anonymity.
Amendment 169 #
Proposal for a directive
Article 69 – paragraph 1 – point b a (new)
Article 69 – paragraph 1 – point b a (new)
(ba) where applicable, the extent to which an employee has been encouraged or pressured to act in a certain way by the explicit or implicit policies or practices of the relevant institution;
Amendment 172 #
Proposal for a directive
Article 70 – paragraph 1
Article 70 – paragraph 1
1. Member States shall ensure that competent authorities establish effective and reliable mechanisms to encourage reporting of potential or actual breaches of the provisions of Regulation [inserted by OP(EU) No .../2012 of the European Parliament and of the Council of ... [on prudential requirements for credit institutions and investment firms] and of national provisions implementing this Directive to competent authorities.
Amendment 173 #
Proposal for a directive
Article 70 – paragraph 2 – point b
Article 70 – paragraph 2 – point b
(b) appropriate protection, including full anonymity, for employees of institutions who denounce breaches committed within the institution;
Amendment 174 #
Proposal for a directive
Article 70 – paragraph 2 – point c a (new)
Article 70 – paragraph 2 – point c a (new)
(ca) clear rules that prohibit institutions from inquiring the identity of an individual who has reported a breach.
Amendment 175 #
Proposal for a directive
Article 70 – paragraph 3
Article 70 – paragraph 3
3. Member States shall require institutions to have in place appropriate procedures for their employees to report breaches internally through a specific channel. Such procedures can be established through collective agreements or other arrangements provided for by social partners. The same protection as referred to in points (b), (c) and (ca) of paragraph 2 shall apply.
Amendment 313 #
Proposal for a directive
Article 87 – paragraph 3
Article 87 – paragraph 3
3. Competent authorities shall require institutions to take into account diversity as one of the criteria for selection of members of the management body. In particular, institutions shall put in place a policy promoting gender, age, geographical, educational and professional diversity on the management body. Employee representation in the management body should also, by adding a key perspective and genuine knowledge of the internal workings of the institution, be seen as a positive way of enhancing diversity.
Amendment 325 #
Proposal for a directive
Article 87 – paragraph 5 a (new)
Article 87 – paragraph 5 a (new)
5a. This article shall be without prejudice to provisions on the representation of employees in company boards as provided for by national legislation or practice.
Amendment 381 #
Proposal for a directive
Article 98 a (new)
Article 98 a (new)
Article 98a Definitions For the purpose of this Chapter, the following definitions shall apply: (1) 'Systemic institution' means an institution which in case of failure or malfunction could cause systemic risk within a Member State or across two or more Member States; (2) 'Systemic risk' means a risk of disruption in the financial system with the potential to have serious negative consequences for the financial system and the real economy; (3) 'Systemic buffer' means the own funds ratio that a specific systemic institution is required to maintain in accordance with Article 98c.
Amendment 382 #
Proposal for a directive
Article 98 b (new)
Article 98 b (new)
Article 98b Identification of systemic institutions 1. Competent authorities shall, based on quantitative and qualitative analysis, identify systemic institutions within their jurisdiction taking into account, in particular, their: (a) Size; (b) Market share; (c) Substitutability of the services provided; (d) Interconnectedness with the financial system; (e) Complexity; (f) Cross border activity. 2. The identified systemic institutions shall be notified to the ESRB, EBA and the Commission.
Amendment 383 #
Proposal for a directive
Article 98 c (new)
Article 98 c (new)
Amendment 384 #
Proposal for a directive
Article 98 d (new)
Article 98 d (new)
Article 98d Systemic institutions By December 2014 the Commission shall, after consulting EBA, review Articles 98a to 98d taking into account internationally agreed standards for systemic institutions and, if appropriate, submit a legislative proposal to the European Parliament and the Council.