27 Amendments of Sven GIEGOLD related to 2009/0161(COD)
Amendment 376 #
Proposal for a directive – amending act
Article 1 – point 1
Article 1 – point 1
Directive 1998/26/EC
Article 6 – paragraph 3
Article 6 – paragraph 3
3. The Member State referred to in paragraph 2 shall immediately notify the European Systemic Risk Board, other Member States and the European Securities and Markets Authority established by Regulation…/…of the European Parliament and of the Council and shall communicate to the latter all information essential to achieve its tasks.
Amendment 377 #
Proposal for a directive – amending act
Article 2 – point 1 a (new)
Article 2 – point 1 a (new)
Directive 2002/87/EC
Article 9 – paragraph 2 – point c a (new)
Article 9 – paragraph 2 – point c a (new)
(1a) In Article 9(2) the following point is added: "(ca) the development of a detailed resolution regime, to be updated regularly and reviewed at least annually, comprising a structured early intervention mechanism, prompt corrective actions and a bankruptcy contingency plan."
Amendment 379 #
Proposal for a directive – amending act
Article 2 – point 2 a (new)
Article 2 – point 2 a (new)
Directive 2002/87/EC
Article 18 – paragraph 1 a (new)
Article 18 – paragraph 1 a (new)
(2a) In Article 18 the following paragraph is inserted after paragraph 1: "1a. Where a competent authority decides that a third-country has equivalent supervision contrary to the opinion of another relevant competent authority, the Joint Committee of the European Supervisory Authorities may revoke the decision where the decision of the competent authority responsible was based on false assumptions or the standard of supervision in the third country has decreased since the decision was made."
Amendment 380 #
Proposal for a directive – amending act
Article 2 – point 5 b (new)
Article 2 – point 5 b (new)
Directive 2002/87/EC
Article 21 b (new)
Article 21 b (new)
(5b) The following Article is inserted after Article 21a: "Article 21b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
Amendment 384 #
Proposal for a directive – amending act
Article 3 – point -1 c (new)
Article 3 – point -1 c (new)
Directive 2003/6/EC
Article 12 – paragraph 2
Article 12 – paragraph 2
Amendment 385 #
Proposal for a directive – amending act
Article 3 – point -1 d (new)
Article 3 – point -1 d (new)
Directive 2003/6/EC
Article 14 – paragraph 4
Article 14 – paragraph 4
(-1d) Article 14(4) is replaced by the following: "4. Member States shall provide that the competent authority disclose to the public every measure or sanction that will be imposed for infringement of the provisions adopted in the implementation of this Directive, unless such disclosure would seriously jeopardise the financial markets or cause disproportionate damage to the parties involved. The competent authorities shall report all measures or sanctions to the European Securities and Market Authority at the same time. The European Securities and Market Authority shall attach that information to the respective data records in the relevant European databases of registered market participants.
Amendment 386 #
Proposal for a directive – amending act
Article 3 – point 1 a (new)
Article 3 – point 1 a (new)
Directive 2003/6/EC
Article 16 – paragraph 2 a (new)
Article 16 – paragraph 2 a (new)
(1a) In Article 16, the following paragraph is inserted after paragraph 2: "2a. The European Securities and Markets Authority established by Regulation .../... of the European Parliament and the Council may request, on its own initiative, any information required for the purpose referred to in paragraph 1."
Amendment 387 #
Proposal for a directive – amending act
Article 3 – point 3 f (new)
Article 3 – point 3 f (new)
Directive 2003/6/EC
Article 17 b (new)
Article 17 b (new)
(3f) The following Article is inserted after Article 17a: "Article 17b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. On the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
Amendment 395 #
Proposal for a directive – amending act
Article 4 – point 2 b (new)
Article 4 – point 2 b (new)
Directive 2003/41/EC
Article 21 – paragraph 1
Article 21 – paragraph 1
(2b) Article 21(1) 1 is replaced by the following: "1. Member States, in close cooperation with the European Insurance and Occupational Pensions Authority, shall ensure, in an appropriate manner, the uniform application of this Directive through regular exchanges of information and experience with a view to developing best practices in this sphere and closer cooperation, and by so doing, preventing distortions of competition and creating the conditions required for unproblematic cross-border membership and the portability of annuity claims."
Amendment 399 #
Proposal for a directive – amending act
Article 5 – point 2 a (new)
Article 5 – point 2 a (new)
Directive 2003/71/EC
Article 14 – paragraph 1
Article 14 – paragraph 1
Amendment 403 #
Proposal for a directive – amending act
Article 5 – point 8 i (new)
Article 5 – point 8 i (new)
Directive 2003/71/EC
Article 24 b (new)
Article 24 b (new)
Amendment 406 #
Proposal for a directive – amending act
Article 6 – point 1
Article 6 – point 1
Directive 2004/39/EC
Article 5 – paragraph 3
Article 5 – paragraph 3
3. Member States shall establish a register of all investment firms. The register shall be publicly accessible and shall contain information on the services or activities for which the investment firm is authorised. It shall be updated on a regular basis. T which provide services or carry out activities within their sphere of authority. A systematically updated list of those firms shall be transferred to the European Securities and Markets Authority established by Regulation…/…of the European Parliament and of the Council. The European Supervisory Authority shall establish a lregister of all investment firms in the Community. The European Securities and MarketUnion. The register shall be publicly accessible and shall contain information on the services or activities for which the investment firm is Aauthority shall publish that list and shall keep it upsed. It shall be updated on a regular basis. Where a competent Authority has withdrawn an authorisation in accordance with Article 8(b) to (d), the withdrawal shall be published in the register for a period of two date. years.
Amendment 416 #
Proposal for a directive – amending act
Article 6 – point 3 g (new)
Article 6 – point 3 g (new)
Directive 2004/39/EC
Article 23 – paragraph 3 – subparagraph 1
Article 23 – paragraph 3 – subparagraph 1
(3g) Article 23(3) first subparagraph is replaced by the following: "Member States that decide to allow investment firms to appoint tied agents shall send a systematically updated list of all tied agents to the European Securities and Market Authority. The European Authority shall establish a public register of all tied agents throughout the Union, which shall kept up to date and published on the internet for consultation free of charge."
Amendment 430 #
Proposal for a directive – amending act
Article 6 – point 14 c (new)
Article 6 – point 14 c (new)
Directive 2004/39/EC
Article 64 b (new)
Article 64 b (new)
(14c) The following Article is inserted after Article 64a: "Article 64b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
Amendment 431 #
Proposal for a directive – amending act
Article 7 – point -1 c (new)
Article 7 – point -1 c (new)
Directive 2004/109/EC
Article 4 – paragraph 2 – point a a (new)
Article 4 – paragraph 2 – point a a (new)
(-1c) In Article 4(2) the following point is inserted after point (a): "(aa) a country-by-country disclosure of annual accounts;"
Amendment 432 #
Proposal for a directive – amending act
Article 7 – point 2 n (new)
Article 7 – point 2 n (new)
Directive 2004/109/EC
Article 25 – paragraph 2 a (new)
Article 25 – paragraph 2 a (new)
(2n) In Article 25 the following paragraph is inserted after paragraph 2: "2a. Competent authorities shall provide the European Securities and Markets Authority and other competent authorities with all relevant and necessary information in order to fulfil their duties under this Directive on their own initiative or on request of the European Securities and Markets Authority."
Amendment 433 #
Proposal for a directive – amending act
Article 7 – point 3 h (new)
Article 7 – point 3 h (new)
Directive 2004/109/EC
Article 27 b (new)
Article 27 b (new)
(3h) The following Article is inserted after Article 27a: "Article 27b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
Amendment 436 #
Proposal for a directive – amending act
Article 8 – point 2 m (new)
Article 8 – point 2 m (new)
Directive 2005/60/EC
Article 41 b (new)
Article 41 b (new)
(2m) The following Article is inserted after Article 41a: "Article 41b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
Amendment 440 #
Proposal for a directive – amending act
Article 9 – point 8
Article 9 – point 8
Directive 2006/48/EC
Article 42a – paragraph 1 – fourth subparagraph
Article 42a – paragraph 1 – fourth subparagraph
If, at the end of the two month period, a following receipt of a request under the first subparagraph any of the competent authorityies concerned has referred the matter to the European Banking Authority in accordance with Article 11 of Regulation …/… [EBA], the consolidating supervisormpetent authorities of the host Member State shall await anythe decision that the European Banking Authority may take in accordance with Article 11(3) of that Regulation, and shall act to settle the matter in order to ensure compliance with EU law, and shall take their final decision in conformity with thate Authority's decision. The two month period shall be deemed the conciliation period within the meaning of that Regulation. The European Banking Authority shall take its decision within one month. The matter shall not be referred to the Authority after the end of theat two month period or after a joint decision has been reached.
Amendment 452 #
Proposal for a directive – amending act
Article 9 – point 22 c (new)
Article 9 – point 22 c (new)
Directive 2006/48/EC
Article 129 – paragraph 1 – subparagraph 1 a (new)
Article 129 – paragraph 1 – subparagraph 1 a (new)
(22c) In Article 129(1), the following subparagraph is inserted after the first subparagraph: "Where any competent authority concerned has referred a matter referred to in points (a), (b) and (c) of the first subparagraph to the European Banking Authority in accordance with Article 11 of Regulation .../...[EBA], that competent authority shall await the decision of the European Banking Authority, and shall take its decision in conformity with the decision of the European Banking Authority."
Amendment 456 #
Proposal for a directive – amending act
Article 9 – point 22 d (new)
Article 9 – point 22 d (new)
Directive 2006/48/EC
Article 129 – paragraph 1 – subparagraph 1 b (new)
Article 129 – paragraph 1 – subparagraph 1 b (new)
(22d) In Article 129(1), the following subparagraph is added after subparagraph 1 a: "To ensure uniform application of this Article, the European Banking Authority shall develop draft technical standards and guidelines to determine the conditions of the coordination and cooperation process with regard to the application of Articles 22, 123 and 124."
Amendment 460 #
Proposal for a directive – amending act
Article 9 – point 23 – subparagraph 2
Article 9 – point 23 – subparagraph 2
Directive 2006/48/EC
Article 129 – paragraph 2 – subparagraph 5
Article 129 – paragraph 2 – subparagraph 5
If, at the end of the six month period, any of the competent authorityies concerned has referred the matter to the European Banking Authority in accordance with Article 11 of Regulation …/… [EBA], the consolidating supervisor shall defer its decision and await any decision that the European Banking Authority may take in accordance with Article 11(3) of that regulation to settle the matter in order to ensure compliance with Union law, and shall take its final decision in conformity with the Authority's decision. The Authority's decision according to the precautionary principle shall take into consideration the consolidating supervisor's additional prudential judgement, and shall act in conformity with that decision. The six month period shall be deemed the conciliation period within the meaning of the Regulation. The European Banking Authority shall take its decision within one month. The matter shall not be referred to the Authority after the end of the six month period or after a joint decision has been reached.
Amendment 463 #
Proposal for a directive – amending act
Article 9 – point 24 – point b
Article 9 – point 24 – point b
Directive 2006/48/EC
Article 129 – paragraph 3 – subparagraph 4
Article 129 – paragraph 3 – subparagraph 4
In the absence of such a joint decision between the competent authorities within four months, a decision on the application of Articles 123 and 124 and Article 136(2) shall be taken on a consolidated basis by the consolidating supervisor after duly considering the risk assessment of subsidiaries performed by relevant competent authorities. If, at the end of the four month period, any of the competent authorityies concerned has referred the matter to the European Banking Authority in accordance with Article 11 of Regulation …/… [EBA], the consolidating supervisor shall defer its decision and await any decision that the European Banking Authority may take in accordance with Article 11(3) of that Regulation, and shall act in conformity with that decision to settle the matter in order to ensure compliance with Union law, and shall take its final decision in conformity with the Authority's decision. The Authority's decision according to the precautionary principle shall take into consideration the consolidating supervisor's additional prudential judgement. The four month period shall be deemed the conciliation period within the meaning of the Regulation. The European Banking Authority shall take its decision within one month. The matter shall not be referred to the Authority after the end of the four month period or after a joint decision has been reached.
Amendment 468 #
Proposal for a directive – amending act
Article 9 – point 25 – first subparagraph
Article 9 – point 25 – first subparagraph
Directive 2006/48/EC
Article 130 – paragraph 1 – subparagraph 1
Article 130 – paragraph 1 – subparagraph 1
Where an potential or effective emergency situation, including any potential adverse developments in financial markets or in real economy, arises, which potentially jeopardises the market liquidity and the stability of the financial system in any of the Member State where entities of a group have been authorised or where significant branches referred to in Article 42a are established, the consolidating supervisor shall, subject to Chapter 1, Section 2, alert as soon as is practicable, the European Banking Authority and , the European Systemic Risk Board and other authorities referred to in the fourth subparagraph of Article 49 and Article 50 , and shall communicate all information essential for the pursuance of their tasks. Those obligations shall apply to all competent authorities under Articles 125 and 126 and to the competent authority identified under Article 129(1).
Amendment 470 #
Proposal for a directive – amending act
Article 9 – point 30 j (new)
Article 9 – point 30 j (new)
Directive 2006/48/EC
Article 151 b (new)
Article 151 b (new)
(30j) The following article shall be inserted after Article 151a: "Article 151b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
Amendment 473 #
Proposal for a directive – amending act
Article 10 – point 1 n (new)
Article 10 – point 1 n (new)
Directive 2006/49/EC
Article 42 b (new)
Article 42 b (new)
(1n) The following article is inserted after Article 42a: "Article 42b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. 3. In order to expedite the adoption of delegated acts where appropriate, the European Parliament and the Council, pursuant to a procedure of early non- objection and in duly justified cases, may decide to shorten the four-month period referred to in the first subparagraph, following a request of the Commission."
Amendment 484 #
Proposal for a directive – amending act
Article 11 – point 20 e (new)
Article 11 – point 20 e (new)
Directive 2009/65/EC
Article 112 b (new)
Article 112 b (new)