12 Amendments of Carl HAGLUND related to 2009/0142(COD)
Amendment 206 #
Proposal for a regulation
Recital 21
Recital 21
(21) Serious threats to the orderly functioning and integrity of financial markets or the stability of the financial system in the CommunityEuropean Union require a swift and concerted response at Community level. The Authority should therefore be able to require national sEuropean Union level. The Council should, in consultation with the ESRB and, where appropriate, the European Supervisory aAuthorities to take specific actions to remedy an emergency situation. As the determination of an emergency situation involves a significant degree of discretion, this power should be conferred on the Commiss, have the power to determine the existence of an emergency situation. Where the emergency situation concerns the market in general the Authority should be able to require national supervisory authorities to take specific actions to remedy an emergency situation. To ensure an effective response to the emergency situation, in the event of inaction by the competent national supervisory authorities, the Authority should be empowered to adopt, as a last resort, decisions directly addressed to financial institutions in areas of Community law directly applicable to them and on the basis of a clear mandate by the Council, decisions directly addressed to financial market aimed at mitigating the effects of the crisis and restoring confidence in the markets.
Amendment 266 #
Proposal for a regulation
Recital 44
Recital 44
(44) It is essential that business secretscommercially sensitive and other confidential information are protected. The confidentiality of information made available to the Authority and exchanged in the network should likewise be safeguardedbe subject to rigorous and effective confidentiality rules.
Amendment 447 #
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. In the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Community, the Commission, upon its own initiative or following a request by the Authority, the Council, or the ESRBEuropean Union, the Council, in consultation with the ESRB and, where appropriate, the European Supervisory Authorities, may adopt a decision addressed to the Authority, determining the existence of an emergency situation for the purposes of this regulation, following a request by the Authority or the ESRB. The decision shall be reviewed by the Council at appropriate intervals and it shall declare the discontinuation of the emergency situation as soon as appropriate.
Amendment 456 #
Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 1 a (new)
Article 10 – paragraph 1 – subparagraph 1 a (new)
In case of developments of this kind, the Authority shall act as a facilitator and, where deemed necessary, as a coordinator of any actions by the relevant national competent supervisory authorities.
Amendment 463 #
Proposal for a regulation
Article 10 – paragraph 2
Article 10 – paragraph 2
2. Where the Commissionuncil has adopted a decision pursuant to paragraph 1, the Authority may adopt individual decisions requiring competent authorities to take the necessary action in accordance with the legislation referred to in Article 1(2) to address any risksuch developments that may jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the European Union, by ensuring that financial institutions and competent authorities satisfy the requirements laid down in that legislation.
Amendment 557 #
Proposal for a regulation
Article 20 – paragraph 1 – subparagraph 1
Article 20 – paragraph 1 – subparagraph 1
1. At the request of the Authority, competent authorities and other public authorities of the Member States shall provide the Authority with all the necessary information to carry out the duties assigned to it by this Regulation.
Amendment 563 #
Proposal for a regulation
Article 20 – paragraph 1 – subparagraph 2
Article 20 – paragraph 1 – subparagraph 2
The Authority may also request information to be provided at recurring intervals. Primarily, the requests are to build upon existing channels to collect information. Where appropriate, common reporting formats are to be used.
Amendment 566 #
Proposal for a regulation
Article 20 – paragraph 1 – subparagraph 2 a (new)
Article 20 – paragraph 1 – subparagraph 2 a (new)
Before requesting information in accordance with this Article, the Authority shall first take account of the existing statistics produced, disseminated and developed by the European Statistical System and the European System of Central Banks.
Amendment 569 #
Proposal for a regulation
Article 20 – paragraph 2 – subparagraph 1
Article 20 – paragraph 2 – subparagraph 1
2. Where information is not available or is not made available in a timely fashion by the competent authorities and other public authorities of the Member States, the Authority may address a duly justified and reasoned request directly to relevant financial institutions and other partiesother supervisory authorities, the Ministry of Finance where the latter has at its disposal prudential information, the central bank or statistical office of the Member State concerned. It shall inform the relevant competent authorities of such requests.
Amendment 573 #
Proposal for a regulation
Article 20 – paragraph 2 – subparagraph 2
Article 20 – paragraph 2 – subparagraph 2
At the request of the Authority, the competent authorities and other public authorities of the Member States shall assist the Authority in collecting such information.
Amendment 670 #
Proposal for a regulation
Article 29 – paragraph 1 – subparagraph 1
Article 29 – paragraph 1 – subparagraph 1
Amendment 681 #
Proposal for a regulation
Article 66 – paragraph 1 - subparagraph 2
Article 66 – paragraph 1 - subparagraph 2