23 Amendments of Cecilia WIKSTRÖM related to 2009/0064(COD)
Amendment 30 #
Proposal for a directive
Recital 5
Recital 5
(5) The scope of this Directive should be confined to the management of collective investment undertakings which raise capital from a number of investors with a view to investing it in accordance with a defined investment policy on the principle of risk-spreading for the benefit of those investors. This Directive should not apply to the management of pension funds or managers of non-pooled investments such as endowments, sovereign wealth funds, central banks or assets hoeld on own account by credit institutions, pension funds or insurance or reinsurance undertakings. This Directive should also not apply to the management of collective investment undertakings which are authorised in accordance with national law and marketed only in their home Member State. This Directive should neither apply to actively managed investments in the form of securities, such as certificates, managed futures, or index- linked bonds. It should, however, cover managers of all collective investment undertakings which are not required to be authorised as UCITS. Investment firms authorised under Directive 2004/39/EC on Mmarkets in Ffinancial Iinstruments should not be required to obtain an authorisation under this Directive in order to market units or shares of an AIF or provide investment services in respect of AIF. Investment firms can however only provide investment services in respect of AIF, if and to the extent the units or shares thereof can be marketed in accordance with this Directive. This Directive should not apply to industrial holding companies whose shares are traded on an EU regulated market in so far as they hold shares in their subsidiaries or associated companies for the purpose of pursuing an industrial business strategy.
Amendment 62 #
Proposal for a directive
Article 2 – paragraph 2 – point g a (new)
Article 2 – paragraph 2 – point g a (new)
(ga) industrial holding companies whose shares are traded on a EU regulated market in so far as they hold shares in their subsidiaries or associated companies for the purpose of pursuing an industrial business strategy.
Amendment 73 #
Proposal for a directive
Article 3 – point o a (new)
Article 3 – point o a (new)
(oa) 'Industrial holding companies' means long-term owners without a planned exit horizon and having an industrial approach to their holdings – whether as holding companies of industrial conglomerates or as industrial investment companies. Such companies pose limited systemic risk and, in so far as they are listed, are subject to existing EU company law, national regulation and stock exchange listing rules, which provides effective protection for investors. Industrial holding companies which are more geared to the industrial sector than to trading in their investments should therefore be exempted from the scope of this Directive;
Amendment 76 #
Proposal for a directive
Article 3 – point o b (new)
Article 3 – point o b (new)
(ob) 'Associated company' means a company in which an industrial holding company, through direct or indirect ownership, holds 20 % or more of the voting rights.
Amendment 82 #
Proposal for a directive
Article 4 – paragraph 2 – subparagraph 2 a (new)
Article 4 – paragraph 2 – subparagraph 2 a (new)
Articles 4 to 8 shall not apply to industrial holding companies whose shares are traded on a EU regulated market in so far as they hold shares in their subsidiaries or associated companies for the purpose of pursuing an industrial business strategy and which are not established principally for the purpose of generating returns for their investors by means of divestment within a planned timeframe.
Amendment 116 #
Proposal for a directive
Article 16 – paragraph 1 – subparagraph 1 a (new)
Article 16 – paragraph 1 – subparagraph 1 a (new)
This Article shall not apply to industrial holding companies whose shares are traded on a EU regulated market in so far as they hold shares in their subsidiaries or associated companies for the purpose of pursuing an industrial business strategy and which are not established principally for the purpose of generating returns for their investors by means of divestment within a planned timeframe.
Amendment 149 #
Proposal for a directive
Article 17 – paragraph 5 – subparagraph 3 a (new)
Article 17 – paragraph 5 – subparagraph 3 a (new)
This Article shall not apply to industrial holding companies whose shares are traded on a EU regulated market in so far as they hold shares in their subsidiaries or associated companies for the purpose of pursuing an industrial business strategy and which are not established principally for the purpose of generating returns for their investors by means of divestment within a planned timeframe.
Amendment 153 #
Proposal for a directive
Article 17 – paragraph 5 a (new)
Article 17 – paragraph 5 a (new)
5a. This Article shall not apply to industrial holding companies whose shares are traded on a EU regulated market in so far as they hold shares in their subsidiaries or associated companies for the purpose of pursuing an industrial business strategy and which are not established primarily for the purpose of generating returns for their investors by means of divestment within a planned timeframe.
Amendment 228 #
Proposal for a directive
Article 26 – paragraph 1 – point a
Article 26 – paragraph 1 – point a
(a) AIFM managing one or more AIF which either individually or in aggregation acquires 30 % or more of the voting rights of an issuer or ofa controlling influence over a non-listed company domiciled in the Community, as appropriate;
Amendment 231 #
Proposal for a directive
Article 26 – paragraph 1 – point b
Article 26 – paragraph 1 – point b
(b) AIFM having concluded an agreement with one or more other AIFM which would allow the AIF managed by these AIFM to acquire 30 % or more of the voting rights of the issuer oa controlling influence over the non-listed company, as appropriate.
Amendment 234 #
Proposal for a directive
Article 26 – paragraph 2
Article 26 – paragraph 2
2. This section shall not apply where the issuer or the non-listed company concerned are small and medium enterprises that employ fewer than 250 persons, have an annual turnover not exceeding EUR 50 million euro and/or an annual balance sheet not exceeding EUR 43 million euro.
Amendment 235 #
Proposal for a directive
Article 26 – paragraph 2 – subparagraph 1 a (new)
Article 26 – paragraph 2 – subparagraph 1 a (new)
Articles 28 to 30 shall not apply to industrial holding companies whose shares are traded on a EU regulated market in so far as they hold shares in their subsidiaries or associated companies for the purpose of pursuing an industrial business strategy and which are not established principally for the purpose of generating returns for their investors by means of divestment within a planned timeframe.
Amendment 240 #
Proposal for a directive
Article 27 – paragraph 1 – subparagraph 1
Article 27 – paragraph 1 – subparagraph 1
1. Member States shall ensure that when an AIFM is in a position to exercise 30 % or more of the voting rights ofa controlling influence over a non-listed company, such AIFM notifies to the non- listed company and all other share-holders the information provided for in paragraph 2.
Amendment 245 #
Proposal for a directive
Article 27 – paragraph 1 – subparagraph 2
Article 27 – paragraph 1 – subparagraph 2
This notification shall be made, as soon as possible, but not later than four trading days the first of which being the day on which the AIFM has reached the position of being able to exercise 30% of the voting rightsa controlling influence.
Amendment 248 #
Proposal for a directive
Article 27 – paragraph 2 – point b
Article 27 – paragraph 2 – point b
(b) the conditions under which the 30% thresholdcontrolling influence has been reached, including information about the identity of the different shareholders involved;
Amendment 250 #
Proposal for a directive
Article 27 – paragraph 2 – point c
Article 27 – paragraph 2 – point c
(c) the date on which the thresholdcontrolling influence was reached or exceeded.
Amendment 254 #
Proposal for a directive
Article 27 a (new)
Article 27 a (new)
Amendment 259 #
Proposal for a directive
Article 28 – paragraph 1 – subparagraph 1
Article 28 – paragraph 1 – subparagraph 1
1. In addition to Article 27, Member States shall ensure that where an AIFM acquires 30 % or more of the voting rights of an issuer or a non-listed company, that AIFM makes the information set out in the second and third subparagraphsa controlling influence over a non-listed company, that AIFM makes the following information available to the issuer, the non-listed company, their respective concerned, its shareholders and representatives of employees or, where there are no such representatives, to the employees themselves.
Amendment 261 #
Proposal for a directive
Article 28 – paragraph 1 – subparagraph 2
Article 28 – paragraph 1 – subparagraph 2
Amendment 266 #
Proposal for a directive
Article 28 – paragraph 1 – subparagraph 3 – introductory wording
Article 28 – paragraph 1 – subparagraph 3 – introductory wording
Amendment 268 #
Proposal for a directive
Article 28 – paragraph 1 – subparagraph 3 – point d
Article 28 – paragraph 1 – subparagraph 3 – point d
(d) the identity of the AIFM which either individually or in agreement with other AIFM have reached the 30 % thresholda controlling influence;
Amendment 269 #
Proposal for a directive
Article 28 – paragraph 1 – subparagraph 3 – point e
Article 28 – paragraph 1 – subparagraph 3 – point e
Amendment 303 #
Proposal for a directive
Article 30
Article 30