[ParlTrack]

Proposal for a regulation
Article 1 – paragraph 1 – point 16 a (new)

Regulation (EU) No 648/2012
Article 22a (new)

(16 a) (16b) the following article is inserted: ‘Article 22a Powers of ESMA 1. ESMA shall be responsible for carrying out its duties under this Regulation for the authorisation and supervision of CCPs established in the Union. 2. ESMA shall ensure on an ongoing basis the compliance by CCPs established in the Union with Articles 7 to 8, Articles 14 to 17b, Article 20, 21, and 24 and Titles IV and V. 3. ESMA shall be empowered with supervisory, investigatory and enforcement powers necessary for the exercise of its functions under this Regulation. 4. The powers referred to in paragraph 3 shall include at least powers to: (a) authorise a CCP or a particular clearing service or activity in financial instruments or non-financial instruments; (b) supervise the CCP’s compliance with the requirements laid down in this Regulation and adopt decisions in relation to Articles 7 to 8, 14 to 17b, 20, 21, and 24 and Titles IV and V; (c) have access to any document or other data from the CCP in a form which ESMA considers relevant for the performance of its duties and to receive or take a copy of such documents or data; (d) require or demand the provision of information from any person related to the CCP and if necessary to summon and question a person with a view to obtaining information; (e) carry out joint on-site inspections or investigations with the CCP competent authority; (f) require the auditors of authorised CCPs to provide information; (g) require, the temporary or permanent cessation of any practice or conduct that ESMA considers to be contrary to the provisions of this Regulation or where such practise or conduct may have an adverse effect on the CCPs cross-border activities or a possible cross-border impact; (h) require the removal of a natural person from the management board of an authorised CCP; (i) impose fines and periodic penalty payments; (j) issue public notices; and (k) withdraw the authorisation of the CCP, or its authorisation for a particular service, activity or class of financial instruments or non-financial contract. ESMA shall charge fees for undertaking their duties as set out under paragraph 1 and in accordance with the delegated act adopted pursuant to the next subparagraph. The Commission shall adopt a delegated act in accordance with Article 82 in order to specify further the following: (a) the types of fees; (b) the matters for which fees are due; (c) the amount of the fees; (d) the manner in which fees are to be paid.’

2023/07/07
Committee: ECON

Danuta Maria HÜBNER

Proposal for a regulation
Article 1 – paragraph 1 – point 21 – point e

Regulation (EU) No 648/2012
Article 25 – paragraph 7 b – point e

(e) the procedures for third-country authorities to ~~inform~~: (i) consult ESMA, on the ~~third- country CCP college referred to in Article 25c, and the central banks of issue referred to in paragraph 3, point (f), without undue delay of any emergency situations~~preparation of recovery plans and resolution plans in relation to aspects relevant for the Union or one or more of its Member States; (ii) promptly inform ESMA of the establishment of recovery plans and resolution plans, and any subsequent material changes to those plans in relationg to ~~the recognised CCP, including developments in financial markets, which may have an adv~~aspects relevant for the Union or one or more of its Member States; (iii) promptly inform ESMA if a Tier 2 CCP intends to activate its recovery plan or where the third-country authorities have determined that therse ~~effect on market liquidity and the stability of the financial system in the Union or one of its Member States and the procedures and contingency plans to address such situations;~~are indications of an emerging crisis situation that could affect the operations of that CCP, in particular, its ability to provide clearing services or where the third-country authorities envisage to take a resolution action in the near future.

2023/07/07
Committee: ECON

Danuta Maria HÜBNER

Proposal for a regulation
Article 1 – paragraph 1 – point 35

Regulation (EU) No 648/2012
Article 54

1. An interoperability arrangement shall be subject to the prior approval of the competent authorities of the CCPs involved. The CCPs’ competent authorities shall request the opinion of ESMA in accordance with 24a(7), first subparagraph, point (bc), and the college in accordance with Article 19, and issued in accordance with the procedure set out in Article 17b.;ESMA. ESMA shall request the opinion of the college in accordance with Article 19, and issued in accordance with the procedure set out in Article 17b. Interoperability arrangements that were approved prior to the entry into force of this regulation shall not be subject the subparagraph above.

2023/07/07
Committee: ECON

Danuta Maria HÜBNER

Proposal for a regulation
Article 3 – paragraph 1 – point 2 – point a

Regulation (EU) 2017/1131
Article 17 – paragraph 4

4. The aggregate risk exposure to the same counterparty of an MMF stemming from derivative transactions, repurchase agreements or reverse repurchase agreements which fulfil the conditions set out in Articles 13, 14 and 15 respectively and which are not centrally cleared through a CCP authorised in accordance with Article 14 of Regulation (EU) No 648/2012 or recognised in accordance with Article 25 of that Regulation, shall not exceed 5 % of the assets of the MMF.;

2023/07/07
Committee: ECON

Danuta Maria HÜBNER

Proposal for a regulation
Article 3 – paragraph 1 – point 2 – point b

Regulation (EU) 2017/1131
Article 17 – paragraph 6 – point c

(c) financial derivative instruments ~~that are not centrally cleared through a CCP authorised in accordance with Article 14 of Regulation (EU) No 648/2012 or recognised in accordance with Article 25 of that Regulation~~, repurchase agreements, or reverse repurchase agreement , giving counterparty risk exposure to that body..

2023/07/07
Committee: ECON

Danuta Maria HÜBNER

Proposal for a regulation
Article 3 a (new)

Amendments to Regulation (EU) 2010/1093
Article 1 – paragraph 2 – first subparagraph

Article 3 a Amendments to Regulation (EU) 2010/1093 in Article 1, paragraph 2, the first subparagraph is modified as follows: "2. The Authority shall act within the powers conferred by this Regulation and within the scope of Directive 2002/87/EC, Directive 2008/48/EC, Directive 2009/110/EC, Regulation (EU) No 575/2013, Directive 2013/36/EU, Directive 2014/49/EU, Directive 2014/92/EU, Directive (EU) 2015/2366, Regulation (EU) 648/2012 of the European Parliament and of the Council and, to the extent that those acts apply to credit and financial institutions and the competent authorities that supervise them, within the relevant parts of Directive 2002/65/EC, including all directives, regulations, and decisions based on those acts, and of any further legally binding Union act which confers tasks on the Authority. The Authority shall also act in accordance with Council Regulation (EU) No 1024/2013. ~~(https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:02010R1093-20210626)~~" Or. en

2023/07/07
Committee: ECON

Activities of Danuta Maria HÜBNER related to 2022/0403(COD)

Reports (1)

Amendments (6)

ParlTrack - 2011-2024