9 Amendments of Sven GIEGOLD related to 2017/0231(COD)
Amendment 4 #
Proposal for a directive
Article 1 – paragraph 1 – point 2 a (new)
Article 1 – paragraph 1 – point 2 a (new)
Directive 2014/65/EU
Article 39 – paragraph 3a (new)
Article 39 – paragraph 3a (new)
(2 a) In Article 39, the following paragraph 3a is added: “3a. This Article does not apply to third country firms with respect to the operation of a trading venue that would qualify as an MTF or OTF if established in the Union”
Amendment 5 #
Proposal for a directive
Article 1 – paragraph 1 – point 2 b (new)
Article 1 – paragraph 1 – point 2 b (new)
Directive 2014/65/EU
Article 57 – paragraph 4 –subparagraph 1
Article 57 – paragraph 4 –subparagraph 1
(2 b) In paragraph 4 of Article 57, the first subparagraph is amended as follows: “4. A competent authority shall set limits for each contract in commodity derivatives traded on trading venues based on the methodology for calculation determined by ESMA in accordance with paragraph 3. That position limit shall include economically equivalent OTC contracts. Contracts traded on third-country trading venues recognised under Article 49a of Regulation (EU) No 600/2014 or benefitting from grandfathering in accordance with Article 49s of Regulation (EU) No 600/2014 do not qualify as OTC contracts.”
Amendment 6 #
Proposal for a directive
Article 1 a (new)
Article 1 a (new)
Article 1 a Amendment to Directive (EU) 2015/849 In subsection II, the following Article is added : “Article 50-a Settlement of disagreements between competent authorities of different Member States 1. Where a competent authority of a Member State considers that, in a particular matter, cooperation with competent authorities of another Member State referred to in Article 50a, 51, 52 or 53 of this Directive does not comply with the relevant conditions set out in those provisions, it may refer the matter to EBA and request its assistance in accordance with Article 19 of Regulation (EU) No 1093/2010. 2. Where EBA has been requested to assist pursuant to paragraph 1 of this Article, it shall take a decision under Article 19(3) of Regulation (EU) No 1093/2010 without undue delay. EBA may also assist the competent authorities in reaching an agreement on its own initiative in accordance with the second subparagraph of Article 19(1) of that Regulation. In either case, the competent authorities involved shall defer their decisions pending resolution under Article 19 of that Regulation.
Amendment 7 #
Proposal for a directive
Article 1 b (new)
Article 1 b (new)
Directive (EU) 2016/97
Article 1 – paragraph 5
Article 1 – paragraph 5
Article 1 b Amendment to Directive (EU) 2016/97 In Article 1, paragraph 5 is replaced by the following: "5. Member States shall ensure that competent authorities monitor the market, including the market for ancillary insurance products which are marketed, distributed or sold in, or from, their Member State. EIOPA may facilitate and coordinate such monitoring. EIOPA may conduct an inquiry into a particular type of financial institution or type of product or type of conduct, including approaching financial institutions in the role of a potential consumer, using recording devices, telephonic or other communications. EIOPA may the use the information it obtains from such an inquiry in support of all its tasks related to consumer protection, financial activities and financial innovation, including review and evaluation as provided for in this article. It shall publish this information on an annual basis and pass its findings on to relevant competent authorities on a named basis. " Or. en (https://eur-lex.europa.eu/legal- content/EN/TXT/?qid=1533819434401&uri=CELEX:32016L0097)
Amendment 8 #
Proposal for a directive
Article 1 c (new)
Article 1 c (new)
Directive (EU) 2016/97
Article 12 – paragraphs 2 and 3
Article 12 – paragraphs 2 and 3
Article 1 c Amendment to Directive (EU) 2016/97 In Article 12, paragraphs 2 and 3 are replaced by the following: “2. The authorities referred to in paragraph 1 of this Article shall be either public authorities or bodies recognised by national law or by public authorities expressly empowered for that purpose by national law. They shall not be insurance or reinsurance undertakings or associations whose members directly or indirectly include insurance or reinsurance undertakings, or insurance or reinsurance intermediaries, without prejudice to the possibility of cooperation between competent authorities and other bodies where that is expressly provided for in Article 3(1). 3. The competent authorities shall possess all the powers necessary for the performance of their duties under this Directive. Without prejudice to Article 31(6), these powers shall include, at least, the powers to: (a) have access to any document or other data in any form which the competent authority considers could be relevant for the performance of its duties and receive or take a copy of it; (b) require or demand the provision of information from any person and if necessary to summon and question a person with a view to obtaining information; (c) carry out on-site inspections or investigations; (d) require the freezing or the sequestration of assets, or both; (e) refer matters for criminal prosecution; (f) allow auditors or experts to carry out verifications or investigations; (g) require the temporary or permanent cessation of any practice or conduct that the competent authority considers to be contrary to the provisions adopted in the implementation of this Directive and prevent repetition of that practice or conduct; (h) adopt any type of measure to ensure that financial institutions continue to comply with legal requirements; (i) issue public notices; (j) suspend the marketing or sale of insurance-based investment products where the conditions of Article 16 of Regulation (EU) No 1286/2014 are met; (k) suspend the marketing or sale of insurance products where the insurance distributor has not developed or applied an effective product approval process or otherwise failed to comply with Article 25 of Directive (EU) 2016/97; (l) require the removal of a natural person from the management board of a financial institution. By […..], Member States shall notify the laws, regulations and administrative provisions transposing paragraph 3 to the Commission and EIOPA. They shall notify the Commission and EIOPA without undue delay of any subsequent amendment thereto. Member States shall ensure that mechanisms are in place to ensure that compensation may be paid or other remedial action be taken in accordance with national law for any financial loss or damage suffered as a result of an infringement of this Directive. 3. Where there is more than one competent authority on its territory, a Member State shall ensure that those authorities collaborate closely so that they can discharge their respective duties effectively. " Or. en (https://eur-lex.europa.eu/legal- content/EN/TXT/?qid=1533819434401&uri=CELEX:32016L0097)
Amendment 9 #
Proposal for a directive
Article 1 d (new)
Article 1 d (new)
Directive (EU) 2016/97
Article 13 – paragraph 1
Article 13 – paragraph 1
Amendment 13 #
Proposal for a directive
Article 2 – paragraph 1 – point -1 (new)
Article 2 – paragraph 1 – point -1 (new)
Amendment 21 #
Proposal for a directive
Article 2 – paragraph 1 – point -1 a (new)
Article 2 – paragraph 1 – point -1 a (new)
Directive 2009/138/EC
Article 71a (new)
Article 71a (new)
(-1a) The following Article 71a is inserted: “Article 71a Coordination of cross-border cooperation Without prejudice to other forms of collaboration, EIOPA may set up coordination platforms with the participation of the supervisory authorities of the home and host Member States concerned in view of discussing and coordinating common matters relating to the activity of an insurance undertaking, which pursues business under the right of establishment or the freedom to provide services.”
Amendment 25 #
Proposal for a directive
Article 2 – paragraph 1 – point 1 b (new)
Article 2 – paragraph 1 – point 1 b (new)
Directive 2009/138/EC
Article 136
Article 136