4 Amendments of Sari ESSAYAH related to 2011/0296(COD)
Amendment 126 #
Proposal for a regulation
Recital 13 a (new)
Recital 13 a (new)
(13 a) In order to ensure legal certainty it is important to clarify that contracts of insurance in respect of any activities of classes set out in Annex I of Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) if entered into with an insurance undertaking, reinsurance undertaking, third-country insurance undertaking or third-country reinsurance undertaking are not derivatives or derivative contracts for the purposes of this Regulation.
Amendment 195 #
Proposal for a regulation
Recital 44 a (new)
Recital 44 a (new)
(44a) In the Commission reports concerning the regulatory package on financial markets (including, in addition to this Regulation, the Directive concerning markets in financial instruments and repealing Directive 2004/39/EC and the Regulation on insider dealing and market manipulation) two years after application begins, it is important to review the package as a whole, and the Commission may make appropriate proposals, including proposals under which all offers to buy or sell and business transactions would have to be notified in real time not to the competent authorities but instead to a system designated by ESMA, through which competent authorities can obtain all the information they require and which could act as a unified, consolidated tape unit and as a centralised cooperation system by means of which abuses occurring on various markets and in various countries can be observed.
Amendment 232 #
Proposal for a regulation
Article 2 – paragraph 1 – point 8
Article 2 – paragraph 1 – point 8
(8) ‘financial instrument’ means those instruments specified in Section C of Annex I of Directive [new MiFID] with the exception of any such instruments that are contracts of insurance in respect of a class of activities set out in Annex I of Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) if entered into with an insurance undertaking, a reinsurance undertaking, a third-country insurance undertaking or a third-country reinsurance undertaking;
Amendment 812 #
Proposal for a regulation
Article 43 – paragraph 2
Article 43 – paragraph 2
2. Before [2 years following application of MiFIR as specified in Article 41(2)], the Commission, after consulting ESMA shall present a report to the Council and the Parliament on the functioning of Article 13, including whether the content and format of transaction reports received and exchanged between competent authorities comprehensively enable to monitor the activities of investment firms in accordance with Article 13(1). The Commission may make any appropriate proposals, including providing for transactions to be reported to a system appointed by ESMA instead of to competent authorities, which allows relevant competent authorities to access all the information reported pursuant to this Article in real time and which may act as a consolidated tape unit as referred to in the Directive concerning markets in financial instruments and repealing Directive 2004/39/EC (2011/0298(COD)) and as a centralised cooperation system in accordance with the objectives of the Regulation on insider dealing and market manipulation (C7-0360/11), by means of which abuses occurring on various markets and in various countries can be observed.