Activities of Jürgen KLUTE related to 2011/0307(COD)
Shadow opinions (1)
OPINION on the proposal for a directive of the European Parliament and of the Council amending Directive 2004/109/EC on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and Commission Directive 2007/14/EC
Amendments (3)
Amendment 16 #
Proposal for a directive
Recital 7
Recital 7
(7) In order to provide for enhanced transparency of payments made to governments, issuers wshose securities are admitted to trading on a regulated market and which have activities in the extractive or logging of primary forest industriuld disclose as part of their annual financial statements payments made to governments in the countries in which they operate. Disclosures should disclosbe made ion a separate report on an annual basis payments made to governments in the countries in which they operate. Tcountry- by-country basis. For companies having activities in the extractive sector or logging forest industries, the report should include types of payments comparable to those disclosed under the Extractive Industries Transparency Initiative (EITI) and provide civil society with information to hold governments of resource-rich countries to account for their receipts from the exploitation of natural resources. The report should be made on a country-by- country and project-by-project basis, where a project means a contract, licence, lease or other legal agreement under which an issuer operates and which gives rise to specific revenue liabilities. For all issuers, disclosures should include turnover (including third party and intra- group turnover) of the constituent entities of the undertaking that might give rise to payments and, on a country-by-country basis, quantities produced, profit before tax, effective tax rates, total number of people employed and their aggregate remuneration and expenditure on fixed asset investment during the course of the reporting period. The initiative is also complementary to the EU FLEGT Action Plan (Forest Law Enforcement, Governance and Trade) and the Timber Regulation which require traders of timber products to exercise due diligence in order to prevent illegal wood from entering into the EU market. The detailed requirements are defined in Chapter 9 of Directive 2011/.../EU of the European Parliament and of the Council.
Amendment 20 #
Proposal for a directive
Recital 14
Recital 14
(14) In order to improve compliance with the requirements of Directive 2004/109/EC and following the Communication from the Commission of 9 December 2010 entitled ‘Reinforcing sanctioning regimes in the financial sector’, the sanctioning powers of competent authorities should be enhanced and should satisfy certain essential requirements. In particular, competent authorities should be able to suspend the exercise of voting rights for holders of shares and financial instruments who do not comply with the notification requirements and to impose pecuniary sanctions which are sufficiently high to be dissuasive. To ensure sanctions have a dissuasive effect on the public at large, sanctions should normally be published, except in certain well-defined circumstances.
Amendment 39 #
Proposal for a directive
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Directive 2004/109/CE
Article 6
Article 6
Member States shall require all issuers active in the extractive or logging of primary forest industries, as defined in […] to prepare, in accordance withto prepare, as part of their annual financial statements, a report on payments made to governments in the countries in which they operate as if Chapter 9 of Directive 2011/.../EU of the European Parliament and of the Council (*), a report on payments made to governments on an annual basispplied. The report shall be made public at the latest six months after the end of each financial year and shall remain publicly available for at least five years. Payments to governments shall be reported at consolidated level. The report should incorporate disclosures on a country-by-country basis. For issuers engaged in activities related to extractive or forest industries, disclosures should include types of payments comparable to those disclosed under the Extractive Industries Transparency Initiative (EITI) and should be on a country-by-country and project-by-project basis, where a project means a contract, licence, lease or other legal agreement under which an issuer operates, and from which its specific revenue liabilities arise. For all issuers, disclosures should include turnover (including third party and intra- group turnover) of the constituent entities of the undertaking that might give rise to payments and, on a per-country basis, quantities produced, profit before tax, effective tax rates, total number of people employed and their aggregate remuneration and expenditure on fixed asset investment during the course of the reporting period.