1306 Amendments of Peter SIMON
Amendment 37 #
2018/2121(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Recalls that current international and national tax rules were mostly conceived in the early 20th century; asserts that there is an urgent need for reform of the rules, so that international, EU and national tax systems are fit for the new economic, social and technologic challenges of the 21st century; notes the broad understanding that current tax systems are not equipped to keep up with these developments and ensure that all market participants pay fairtheir fair share of taxes;
Amendment 50 #
2018/2121(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Highlights that Parliament has made a substantial contribution to the fight against financial crimes, tax evasion and tax avoidance as uncovered in the LuxLeaks, Panama Papers and, Paradise Papers, Football Leaks, Bahamas Leaks, and CumEx cases, notably with the work of the TAXE, TAX2 and TAX3 Special Committees, the PANA inquiry committee and the ECON committee;
Amendment 61 #
2018/2121(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Deplores the fact that some EU Member States confiscate the tax base of other Member States by attracting profits generated elsewhere, thereby allowing companies to artificially lower their tax base; upholds that this practice not only harms the principle of EU solidarity, but also produces a wealth redistribution towards multinationals and their shareholders, at the expense of EU citizens; supports the important work by academics and journalists who help to shed light on these practices;
Amendment 77 #
2018/2121(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Deplores again ‘the lack of reliable and unbiased statistics on the magnitude of tax avoidance and tax evasion [and] stresses the importance of developing appropriate and transparent methodologies to quantify the scale of these phenomena, as well as their impact on countries’ public finances, economic activities and public investments’; further deplores the lack of reliable quantitative assessment of the extent of financial crimes, tax evasion and tax avoidance;
Amendment 89 #
2018/2121(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Highlights that close to 40 % of MNEs’ profits are shifted to tax havens globally each year25 ; _________________with some European Union countries appearing to be the prime losers of profit shifting, because 35% of shifted profits come from EU countries, followed by developing countries (30%)1a; deplores that Ireland is the number one shifting destination, followed by Singapore, the Netherlands, Caribbean tax havens and Switzerland1b; deplores furthermore that about 80% of the profits shifted within the EU are shifted to the EU tax havens, primarily Ireland, Luxembourg and the Netherlands1c; [3] _________________ 1a Tørsløv, Wier and Zucman ‘The missing profits of nations’, National Bureau of Economic Research, Working Paper 24701, 2018. 1b Tørsløv, Wier and Zucman ‘The missing profits of nations’, National Bureau of Economic Research, Working Paper 24701, 2018. 1c Tørsløv, Wier and Zucman ‘Themissing profits of nations’, National Bureau of Economic Research, Working Paper 24701, 2018. 25 Tørsløv, Wier and Zucman ‘The missing profits of nations’, National Bureau of Economic Research, Working Paper 24701, 2018.
Amendment 133 #
2018/2121(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13 a. Recalls that the payment of taxes is both an essential corporate contribution to society and a tool for good governance and is therefore a requirement for responsible business practices; stresses the need to include harmful tax practices in the scope of mandatory reporting on corporate social responsibility (CSR);
Amendment 142 #
2018/2121(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Reiterates its call on companies, as taxpayers, to fully comply with their tax obligations and refrain from aggressive tax planning leading to BEPS, and to consider fair taxation strategy as an important part of their corporate social responsibility and of their implementation of the United Nations Guiding Principles on Business and Human Rights and the OECD Guidelines for Multinational Enterprises;
Amendment 148 #
2018/2121(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Urges furthermore the Member States taking part in the enhanced cooperation procedure to agree as quickly as possible on the adoption of a Financial Transaction Tax (FTT);
Amendment 155 #
2018/2121(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Recalls that taxes must be paid in the jurisdictions where the actual substantive and genuine economic activity and value creation takes place or, in case of indirect taxation, where consumption takes place; highlights that this can only be achieved by adopting the common Consolidated Corporate Tax Base (CCCTB); advocates for the inclusion of fair allocation of taxing rights on the agenda of current international tax negotiations, notably at OECD and UN levels;
Amendment 170 #
2018/2121(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Stresses that between 1985 and 2018, the global average statutory corporate tax rate has fallen from 49% to 24%1a ; notes that nominal corporate tax rates have decreased by 46% since 2000 at EU level –from an average of 32% in 2000 to 21,9% in 20181b; is concerned about a growing race to the bottom on nominal corporate tax rates at both international and EU levels; regrets that international tax reform such as G20/OECD led BEPS project did not touch upon this unfair tax competition; calls for a second set of international tax reforms aiming at tackling tax competition among countries and ensuring a fair allocation of taxing rights; underlines it is necessary to give a greater role to the UN Committee of Experts on International Cooperation in Tax Matters in the next reform of international tax rules; _________________ 1a Tørsløv, Wier and Zucman ‘Themissing profits of nations’, National Bureau of Economic Research, Working Paper 24701, 2018. 1b Taxation trend in the EU, Table 3:Top statutory corporate income tax rates (including surcharges), 1995- 2018,European Commission 2018
Amendment 174 #
2018/2121(INI)
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16 b. Deplores the imbalance between taxes paid on corporate and capital income and on labour; points out that such distribution of tax burden is unsustainable in view of the expected massive changes in the labour market due to increased robotisation and digitalisation and poses a serious risk to social cohesion;
Amendment 177 #
2018/2121(INI)
Motion for a resolution
Paragraph 16 c (new)
Paragraph 16 c (new)
16 c. Affirms that a fair and effective solution to tax dumping and aggressive tax competition would reside in the setting of a minimum corporate tax rate; calls for the adoption of a coordinated level of minimum effective taxation at European level through a combination of anti-abuse measures and limitation to tax deductions; asks the European Commission to consider proposing a legislative package aiming at ensuring a minimum effective level of taxation;
Amendment 179 #
2018/2121(INI)
Motion for a resolution
Paragraph 16 d (new)
Paragraph 16 d (new)
16 d. Takes note that traditional sectors pay in average an effective corporate tax rate of 23% while the digital sector pays about 9,5%1a; asks the European Commission to carry out and release an in depth study on effective level of corporate taxation within the EU and develop a proposal fora coordinated level of minimum taxation within the EU; _________________ 1a COM(2018) 146 final COMMUNICATION FROM THE COMMISSION TO THE EUROPEANPARLIAMENT AND THE COUNCIL Time to establish a modern, fair and efficient taxation standard for the digital economy
Amendment 198 #
2018/2121(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Notes that the G20/OECD 15-point BEPS action plan is being implemented and monitored and further discussions are taking place, in a broader context than just the initial participating countries, through the Inclusive Framework; calls on Member States to support a reform of both the mandate and the functioning of the Inclusive Framework to ensure that remaining tax loopholes and unsolved tax questions such as the allocation of taxing rights among countries are covered by the current international framework to combat BEPS practices; highlights the need to ensure that all countries participate on an equal footing;
Amendment 205 #
2018/2121(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Points out that some countries have recently adopted unilateral countermeasures against harmful tax practices (such as the UK’s Diverted Profits Tax and the Global Intangible Low- Taxed Income (GILTI) provisions of the US tax reform) to ensure that the foreign income of MNEs is duly taxed at a minimum effective tax rate in the parent’s country of residence; calls for an EU assessment of these measuresnotes that, in contrast to these unilateral measures, the EU generally promotes multilateral and consensual solutions to deal with a fair allocation of taxing rights, and, therefore, calls for an EU assessment of these measures; stresses that the EU prioritises a global solution when it comes to taxing the digital sector but is proposing a Digital Services Tax as global discussions seem currently locked;
Amendment 214 #
2018/2121(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Welcomes the provisions on Controlled Foreign Corporation (CFC) included in ATAD I to ensure that profits made by related companies parked in low or no-tax countries are effectively taxed; acknowledges that they prevent the absence or diversity of national CFC rules within the Union from distorting the functioning of the internal market beyond situations of wholly artificial arrangements as called for repeatedly by Parliament; deplores the coexistence of two approaches to implement CFC rules in ATAD I and calls on Member States to implement only the simpler and most efficient CFC rules as in ATAD I Article 7(2)(a); asks the European Commission to make a legislative proposal reinforcing CFC rules, including a criteria on an actual corporate tax paid on profits lower than 18%;
Amendment 218 #
2018/2121(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Welcomes the general anti-abuse rule for the purposes of calculating corporate tax liability included in ATAD I, allowing Member States to ignore arrangements that are not genuine and having regard to all relevant facts and circumstances aimed at obtaining a tax advantage; reiterates its repeated call for the adoption of a general and common anti- abuse rule, namely in existing legislation and in particular in the parent-subsidiary directive, the merger directive and the interest and royalties directive; calls on Member States to consider a general anti- abuse rule including a minimum effective tax rate of 18%;
Amendment 244 #
2018/2121(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Recognises that the new flow of information to tax authorities following the adoption of ATAD I and DAC4 creates the need for adequate resources to ensure the most efficient use of such information and to effectively reduce the current tax gap; calls on all Member States to evaluate if the tools of the authorities are sufficient and adequate to use this information; points out the importance of combining different sets of information in order to identify patterns which indicate suspicious activity and can thereby help to discover financial crimes, tax evasion or tax avoidance;
Amendment 252 #
2018/2121(INI)
Motion for a resolution
Paragraph 29
Paragraph 29
29. Welcomes the fact that Member States’ tax systems and overall tax environment have become part of the European Semester in line with Parliament’s call to that effect29 ; welcomes the studies and data drawn up by the Commission30 that allow situations that provide economic ATP indicators to be better addressed, and give a clear indication of the exposure to tax planning as well as furnishing a rich data base for all Member States on the phenomenon; calls for these new tax indicators for the European Semester to be given the same rank as the indicators relating to expenditure control; underlines the interest of providing the European Semester with this tax dimension, as it will make it possible to tackle certain harmful tax practices that had not been tackled until now through the ATAD Directive and other existing European regulations; _________________ 29 European Parliament resolution of 25 November 2015 on tax rulings and other measures similar in nature or effect, OJ C 366, 27.10.2017, p. 51, paragraph 96. 30 Referred to above. The studies provide an overview of Member States’ exposure to ATP structures affecting their tax base (erosion or increase), although there is no stand-alone indicator of the phenomenon, a set of indicators seen as a ‘body of evidence’ nevertheless exists.
Amendment 263 #
2018/2121(INI)
Motion for a resolution
Paragraph 32
Paragraph 32
32. Calls on the Commission to issue a proposal aimed at repealing patent boxes, and calls on Member States to favour non- harmful and, if appropriate, direct support for R&D; stresses that tax reliefs for companies need to be carefully constructed and implemented only where their positive impact on jobs and growth is evident and any risk of creating new loopholes in the taxation system is excluded; reiterates, in the meantime, its call to ensure that current patent boxes establish a genuine link to economic activity, such as expenditure tests, and that they do not distort competition; welcomes the improved definition of R&D costs in the common corporate tax base (CCTB) proposal; however continues to express its concern about new deductions for R&D expenditure included in the CCTB proposal and which could create opportunities for artificially reducing the tax base;
Amendment 271 #
2018/2121(INI)
Motion for a resolution
Paragraph 32 a (new)
Paragraph 32 a (new)
32 a. Calls on the Council, assisted by the European Commission, to define a comprehensive and exhaustive list of potential harmful tax practices within the EU, to be updated every year; demands that criteria aiming at identifying harmful tax practices include, notably, schemes allowing for a large deduction of corporate income tax without benefiting the real local economy;
Amendment 284 #
2018/2121(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
33. Welcomes the re-launch of the CCCTB project in a two-step approach, with the Commission’s adoption of interconnected proposals on CCTB and CCCTB; calls on the Council to swiftly adopt them,stresses that once implemented fully, the CCCTB will make it possible to attribute income to where the value is created and will eliminate loopholes between national tax systems, in particular transfer pricing; calls on the Council to swiftly adopt and implement the two proposals side by side taking into consideration Parliament’s opinion that already includes the concept of virtual permanent establishment that would close the remaining loopholes allowing tax avoidance to take place and level the playing field in light of digitalisation;
Amendment 290 #
2018/2121(INI)
Motion for a resolution
Paragraph 33 a (new)
Paragraph 33 a (new)
33 a. Recalls that to end the practice of profit shifting and to introduce the principle that tax is paid where profit is generated, the CCTB and CCCTB should be introduced simultaneously in all Member States; calls on the Commission to issue a new proposal based on Article 116 of the Treaty on the Functioning of the European Union, whereby the European Parliament and the Council act in accordance with the ordinary legislative procedure to issue the necessary legislation, should the Council fail to adopt a unanimous decision on the proposal to establish a CCCTB;
Amendment 300 #
2018/2121(INI)
Motion for a resolution
Paragraph 34
Paragraph 34
34. Notes that the phenomenon of digitalisation has created a new situation in the market, whereby digital and digitalised companies are able to take advantage of local markets without having a physical, and therefore taxable, presence in that market, creating a non-level playing field and putting traditional companies at a disadvantage; notes that digital businesses models in the EU face a lower effective average tax burden than traditional business models31 ; deplores that digital businesses pay almost no taxes in some Member States despite their significant digital presence and large revenues in those Member States; reminds that, when it comes to the digitalisation of the whole economy, the location of the value creation should take into account the input from users as well as information collected on consumers' behaviour online; _________________ 31 As evidenced in the impact assessment of 21 March 2018 accompanying the digital tax package (SWD(2018)0081), according to which on average, digitalised businesses face an effective tax rate of only 9.5 %, compared to 23.2 % for traditional business models.
Amendment 334 #
2018/2121(INI)
Motion for a resolution
Paragraph 36 a (new)
Paragraph 36 a (new)
36a. Notes that, across the political spectrum, and across Europe, there is an overwhelming support for a digital tax; recalls that surveys show that 80% of citizens from Germany, France, Austria, the Netherlands, Sweden and Denmark are supportive of a Digital Service Tax (DST) and that 80% of the citizens think that the EU should not wait for international efforts before it undertakes such a step; underlines furthermore that a majority of the surveyed citizens want a broad scope for a digital service tax, which includes services providing digital content and e-commerce1a; _________________ 1a KiesKompas, Public Perception towards taxing digital companies in six countries https://policies.kieskompas.nl/digital-tax- report.pdf,December 2018
Amendment 339 #
2018/2121(INI)
Motion for a resolution
Paragraph 36 b (new)
Paragraph 36 b (new)
36b. Calls on Member States to ensure that the ‘Digital Services Tax’ remains a temporary measure by including a ‘sunset clause’ to the proposal for a Council Directive on the common system of a digital services tax on revenues resulting from the provision of certain digital services and by speeding up the discussion on a Significant Digital Presence1a ; _________________ 1a Proposal for a Council Directive laying down rules relating to the corporate taxation of a significant digital presence COM(2018) 147 final
Amendment 376 #
2018/2121(INI)
Motion for a resolution
Paragraph 44 a (new)
Paragraph 44 a (new)
44a. Notes the magnitude of the CumEx scandal, which according to some estimates, has taken EUR 55 billion from public coffers in the EU; observes that the "CumEx files" reveal a lack of cooperation between Member States' tax authorities and failures of the current system of exchange of information as some Member States were reportedly aware of these fraudulent tax practices but waited several years to inform other Member States; calls for a regulation of dividend arbitrage practices, preventing "CumEx" and "CumCum" schemes in the future, by putting the burden of proof of ownership of the dividends on the foreign beneficiary; calls on the European legislators to evaluate the possibility of implementing this measure at EU level;
Amendment 379 #
2018/2121(INI)
Motion for a resolution
Paragraph 44 b (new)
Paragraph 44 b (new)
44b. Further notes that the French Senate, in an effort to combat the practice of dividend arbitrage, has tabled an amendment to the draft budget bill that would make it possible to withhold 30 % of the value of the transaction to a foreign beneficiary, to be reimbursed a posteriori if they prove that they are the ultimate beneficial owner; calls on the EU legislators to evaluate the possibility of implementing this measure at EU level;
Amendment 395 #
2018/2121(INI)
Motion for a resolution
Paragraph 45
Paragraph 45
45. SRecalls that public CBCR is one of the key measures to find greater transparency on tax information of companies for all citizens; stresses that the proposal for public CBCR was submitted to the co-legislators just after the Panama papers scandal on 12 April 2016, and that Parliament adopted its position on it on 4 July 2017; recalls that this public nature is essential for civil society, investigative journalists, investors and other stakeholders, in particular, to whom the information is useful to assess potential risks and liabilities; recalls that the latter called for an enlargement of the scope of reporting and protection of commercially sensitive information; deplores the lack of progress and cooperation from the Council since 2016; urges for progress to be made in the Council so that it enters into negotiations with Parliament;
Amendment 407 #
2018/2121(INI)
Motion for a resolution
Paragraph 45 a (new)
Paragraph 45 a (new)
45a. Calls on the Commission and the Council to create a mandatory standardised public European Business Register in order to gain up-to-date and trustworthy information on companies and to achieve transparency via cross- border access to comparable and reliable information of companies in the EU;
Amendment 425 #
2018/2121(INI)
Motion for a resolution
Paragraph 49 a (new)
Paragraph 49 a (new)
49a. Deplores the fact that companies can make agreements with governments to pay almost no tax in a given country despite conducting substantial activity; points in this light to a tax ruling between the Dutch tax revenue authority and Royal Dutch Shell plc that seems to be in violation of Dutch tax law on the sole ground that the head office would be located in the Netherlands after the unification of the two former parent companies, which results in an exemption from Dutch dividend withholding tax, while at the same time recent investigations seem to show that the company pays no profit tax in The Netherlands either; reiterates its call on the Commission to investigate this case of potential illegal state aid;
Amendment 444 #
2018/2121(INI)
Motion for a resolution
Paragraph 52
Paragraph 52
52. Notes that there is no single definition of letterbox companieHighlights that companies create cross-border operations and corporate constructions including artificial arrangements in order to avoid or circumvent national tax law; stresses that company mobility should not lead to forum shopping; notes that there is no single definition of letterbox companies; reiterates its call for a clear definition; stresses that the requirement of genuine economic activity in the destination Member States can prevent the creation of a letterbox company through a cross- border operation, as proposed in the draft report for the proposal for a directive of the European Parliament and of the Council amending Directive (EU) 2017/1132 as regards cross-border conversions, mergers and divisions;
Amendment 519 #
2018/2121(INI)
Motion for a resolution
Paragraph 65 a (new)
Paragraph 65 a (new)
65a. Welcomes that a VAT Mini One Stop Shop (MOSS) on telecommunications, broadcasting and electronic services was introduced in 2015 as a voluntary system for registration, declaration and payment of VAT; welcomes the extension of the MOSS to other supplies of goods and services to final consumers as of 1 January 2021;
Amendment 549 #
2018/2121(INI)
Motion for a resolution
Paragraph 72
Paragraph 72
72. Calls on the Commission and Eurofisc to rapidly conclude their investigations on the Isle of Man’s VAT collection practices on privateWelcomes the infringement procedures opened by the Commission on 8 November 2018 against Italy and the Isle of Man to ensure that they put an end on illegal tax breaks for yachts and aircraft, as revealed by the Paradise pPapers; and, if necessary, to open infringement procedures;
Amendment 552 #
2018/2121(INI)
Motion for a resolution
Paragraph 74
Paragraph 74
74. WNotes that the Commission has recently proposed additional control tools and an enhanced role for Eurofisc as well as mechanisms for closer cooperation between customs and tax administrations and greater involvement of the European Public Prosecutor's Office; welcomes the adoption of the Protection of Financial Interests (PIF) Directive53 which clarifies the issues of cross-border cooperation and mutual legal assistance between Member States, Eurojust, the European Public Prosecutor’s Office (EPPO), the European Anti-Fraud Office (OLAF) and the Commission in tackling VAT fraud; _________________ 53 Directive (EU) 2017/1371 of the European Parliament and of the Council of 5 July 2017 on the fight against fraud to the Union’s financial interests by means of criminal law, OJ L 198, 28.7.2017, p. 29, in particular Articles 3 and 15 thereof.
Amendment 555 #
2018/2121(INI)
Motion for a resolution
Paragraph 75
Paragraph 75
75. Points, however, to the need for better cooperation between the administrative, judicial and law- enforcement authorities within the EU, as highlighted by experts during the hearing held on 28 June 2018 and in a study commissioned by the TAX3 Committee; calls on the EPPO, OLAF, Eurofisc, Europol and Eurojust to closely cooperate with a view to coordinating their efforts against VAT fraud and to identifying and adapting to new fraudulent practices;
Amendment 567 #
2018/2121(INI)
Motion for a resolution
Paragraph 78 a (new)
Paragraph 78 a (new)
78a. Calls on Member States to mandate Eurofisc to develop new strategies to track goods under Customs procedure 42, the mechanism which allows the importer to obtain a VAT exemption when the imported goods are intended to be eventually transported to a business customer in another Member State than the Member State of importation;
Amendment 581 #
2018/2121(INI)
Motion for a resolution
Paragraph 81
Paragraph 81
81. Emphasises that natural persons do not generally exercise their freedom of movement for the purposes of tax fraud, tax evasion and aggressive tax planning; underlines, however, that some natural persons have a tax base large enough to span several tax jurisdictions; stresses that tax evasion is highly concentrated among the rich, with the 0.01% richest households evading about 25% of their taxes1a; _________________ 1a Alstadsæter, Johannesen & Zucman: Tax Evasion and Inequality; October 2018
Amendment 635 #
2018/2121(INI)
Motion for a resolution
Paragraph 87 a (new)
Paragraph 87 a (new)
87a. Alerts for the dangers of CBI and RBI schemes allowing associated family reunification, whereby family members of CBI/RBI beneficiaries can acquire residence or citizenship with minimum or no checks;
Amendment 683 #
2018/2121(INI)
Motion for a resolution
Paragraph 93 a (new)
Paragraph 93 a (new)
93 a. Condemns Member States implementing CBI and RBI schemes in opaque circumstances and without proper enforcement of AML controls; urges Member States which operate these schemes to publish annually the names and nationalities of beneficiaries of CBI and RBI and their relatives in order to minimise risks of money laundering, tax crimes and related criminality;
Amendment 707 #
2018/2121(INI)
Motion for a resolution
Paragraph 102
Paragraph 102
102. Calls on the Commission to table a legislative proposal to ensure the automatic exchange of information between the relevant authorities, including law enforcement tax and customs authorities, on beneficial ownership and transactions taking place in free ports, customs warehouses or SEZs;
Amendment 708 #
2018/2121(INI)
Motion for a resolution
Paragraph 102
Paragraph 102
102. Calls on the Commission to table a legislative proposal to ensure the automatic exchange of information between the relevant authorities, including tax and customs authorities, on beneficial ownership and relevant transactions for taxation purposes taking place in free ports, customs warehouses or SEZs;
Amendment 711 #
Amendment 721 #
2018/2121(INI)
104. Calls on the Commission to assess past amnesty programmes enacted by Member States, and, in particular, the public revenues recovered and their impact in the medium and long term on tax base volatility; urges Member States to ensure that relevant data related to the beneficiaries of previous and future tax amnesties is duly shared with the judiciary, law enforcement, and tax authorities, to ensure compliance with AML/CFT rules and possible prosecution for other financial crimes;
Amendment 747 #
2018/2121(INI)
Motion for a resolution
Paragraph 110 a (new)
Paragraph 110 a (new)
110 a. Welcomes the Action Plan adopted by the Council on the 4th of December 2018, including several non-legislative measures to better tackle money laundering and terrorist financing in the EU; requests the Commission to regularly update the Parliament on the progress of the implementation of the Action Plan;
Amendment 748 #
2018/2121(INI)
Motion for a resolution
Paragraph 110 b (new)
Paragraph 110 b (new)
110 b. Is concerned by the absence of concrete procedures to assess and review the probity of members of the governing council of the European Central Bank, in particular when they are formally accused of criminal activity; calls for mechanisms to monitor and review the conduct and propriety of the members of the governing council of the European Central Bank and to protect them in case of abuse of power by the authority that has the appointment power;
Amendment 749 #
2018/2121(INI)
Motion for a resolution
Paragraph 111
Paragraph 111
111. Condemns the fact that systemic failures in the enforcement of AML requirements, coupled with inefficient supervision, has led to a number of recent high-profile cases of ML in European banks linked to systematic breaches of the most basic KYC and CDD requirements; recalls the crucial importance of developing Public and Private Partnerships (PPPs) and highlights the existence and positive results of the only transnational PPP, the Europol Financial Intelligence Public Private Partnership, promoting the sharing of strategic and tactical information amongst banks, FIUs, LEAs and national regulators across States;
Amendment 751 #
2018/2121(INI)
Motion for a resolution
Paragraph 111 a (new)
Paragraph 111 a (new)
111 a. Stresses the continued use of cash in cases of money laundering; highlights the new Regulation on controls on cash entering or leaving the Union, which harmonises and expands controls on large sums of cash and highly liquid stores of value; regrets that while rules on the EU external borders are harmonised, rules among Member States concerning cash movements within EU borders vary;
Amendment 754 #
2018/2121(INI)
Motion for a resolution
Paragraph 111 b (new)
Paragraph 111 b (new)
111 b. Notes that high-denomination euro notes provide a way to move large amounts of cash and thus potentially evade AML controls; welcomes that the ECB announced in 2016 it would no longer issue new €500 notes (even though the outstanding stock remains legal tender); calls on the ECB to extend this action to the €200 notes and for determining the phasing out of the ability to use of both €500 and €200 notes;
Amendment 759 #
2018/2121(INI)
Motion for a resolution
Paragraph 112 a (new)
Paragraph 112 a (new)
112 a. Notes the positive results of the UK law establishing the Unexplained Wealth Order (UWO) in tracking proceeds of criminal activities; highlights that a UWO is a court order that requires a person who is reasonably suspected of involvement in, or of being connected to a person involved in, serious crime to explain the nature and extent of their interest in particular property, and to explain how the property was obtained, where there are reasonable grounds to suspect that the respondent’s known lawfully obtained income would be insufficient to allow the respondent to obtain the property; calls on the Commission to assess the feasibility of proposing a similar measure through EU legislation and report back to Parliament;
Amendment 762 #
2018/2121(INI)
Motion for a resolution
Paragraph 112 b (new)
Paragraph 112 b (new)
112 b. Welcomes the decision in some Member States to ban the issuing of bearer shares and to convert the current ones into nominal securities; reiterates its call on the Commission to propose EU- wide legislation to the same effect;
Amendment 763 #
2018/2121(INI)
Motion for a resolution
Paragraph 112 c (new)
Paragraph 112 c (new)
112 c. Stresses the urgent need to create a more efficient system for communication and information exchange among judicial authorities within the EU, replacing the traditional instruments of mutual legal assistance in criminal matters, which provide lengthy and burdensome procedures harming investigations of money laundering and other serious crimes; reiterates its call on the Commission to assess the need for legislative action in this field;
Amendment 764 #
2018/2121(INI)
Motion for a resolution
Paragraph 112 d (new)
Paragraph 112 d (new)
112 d. Calls on the Commission to assess and report to Parliament about the role and particular risks presented by legal arrangements such as Special Purpose Vehicles (SPVs), Special Purpose Entities (SPEs) and Non Charitable Purpose Trusts (NCPTs) in money laundering, particularly in the UK, and Crown Dependencies and Overseas territories;
Amendment 765 #
2018/2121(INI)
Motion for a resolution
Paragraph 112 e (new)
Paragraph 112 e (new)
112 e. Urges Member States to fully comply with AML legislation when issuing sovereign bonds on the financial markets; recalls that money laundering and financing of terrorism takes many forms and that due diligence in such financial operations is strictly necessary;
Amendment 806 #
2018/2121(INI)
Motion for a resolution
Paragraph 121 a (new)
Paragraph 121 a (new)
121 a. Notes that the recent scandals affecting banks in Malta, Latvia, Estonia, the Netherlands, Germany and Denmark reveal the failure of supervision by national anti-money laundering authorities; highlights, at the same time, that ESAs have limited abilities to take a more substantial role in the anti-money laundering field due to tight resources coupled with a lack of appropriate powers;
Amendment 808 #
2018/2121(INI)
Motion for a resolution
Paragraph 122
Paragraph 122
122. Calls for an assessment of long- term objectives leading to an enhanced AML/CFT framework as mentioned in the ‘Reflection Paper on possible elements of a Roadmap for seamless cooperation between Anti Money Laundering and Prudential Supervisors in the European Union’, such as the establishment at EU level of a mechanism to better coordinate the activities of AML/CFT supervisors of financial sector entities, notably in situations where AML/CFT concerns are likely to have cross-border effects, and a possible centralisation of AML supervision via an existing or new Union body empowered to enforce harmonised rul; calls therefore for a European Anti-money Laundering Authority with adequate supervision, investigation and enforcement powers of both financial and non-financial obliged entities aund practiceser the AMLD;
Amendment 825 #
2018/2121(INI)
Motion for a resolution
Paragraph 125 a (new)
Paragraph 125 a (new)
125 a. Notes the concerns expressed by the EBA with regards to the implementation of the Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms1a; welcomes the suggestions made by the EBA to tackle the deficiencies caused by the current Union legal framework; _________________ 1a https://www.eba.europa.eu/documents/101 80/2101654/Letter+to+Tiina+Astola+on+t he+request+to+investigate+a+possible+B UL+under+Article+17+of+Regulation+% 28EU%29%20No+10932010+- +24092018.pdf
Amendment 827 #
2018/2121(INI)
Motion for a resolution
Subheading 5.2
Subheading 5.2
Cooperation between financial intelligence units (FIUs) and law enforcement
Amendment 832 #
2018/2121(INI)
126 a. Recalls that EU FIUs are strongly encouraged to use the FIU.net system and highlights that information sharing between FIUs and LEAs, including with Europol, should be improved;
Amendment 833 #
2018/2121(INI)
Motion for a resolution
Paragraph 126 a (new)
Paragraph 126 a (new)
126 a. Highlights that the fight against money laundering and tax evasion also requires good cooperation between FIUs and customs authorities;
Amendment 848 #
2018/2121(INI)
Motion for a resolution
Paragraph 128
Paragraph 128
128. Points out that the non- standardisation of suspicious transaction report formats and non-standardisation of suspicious transaction report thresholds among Member States and with respect to the different obliged entities leads to difficulties in the processing and exchange of information between FIUs; calls on the Commission to explore mechanisms to set up standardised reporting formats for obliged entities in order to facilitate the exchange of information between FIUs in cases with a cross-border dimension and to reflect on the standardisation of suspicious transaction thresholds;
Amendment 858 #
2018/2121(INI)
Motion for a resolution
Paragraph 129 a (new)
Paragraph 129 a (new)
129 a. Notes the Commission’s assessment of the framework for FIUs’ cooperation with third countries and obstacles and opportunities to enhance cooperation between FIUs in the Union including the possibility of establishing an EU level coordination and support mechanism; recalls that according to the AMLD5 this assessment should be ready by 1 June 2019; asks the Commission to consider this opportunity to make a legislative proposal for a EU Financial Intelligence Unit, creating a hub for joint investigative work and coordination, with its own remit of autonomy and investigatory competences on cross border financial criminality, and an early warning mechanism;
Amendment 863 #
2018/2121(INI)
Motion for a resolution
Paragraph 129 b (new)
Paragraph 129 b (new)
129 b. Calls on the Commission to draw up a report assessing the necessity of uniformisation or harmonisation of the organisational status conferred to FIUs in Member States, to ensure better cooperation and exchange of information, without interfering with their independence;
Amendment 864 #
2018/2121(INI)
129 c. Calls on the Commission to propose legislation for the creation of a European Financial Police within the framework of Europol, with its own autonomous investigatory competence, based on the European legal framework to tackle cross-border tax fraud, money laundering, financing of terrorism and predicate offences;
Amendment 870 #
2018/2121(INI)
Motion for a resolution
Paragraph 131 a (new)
Paragraph 131 a (new)
131 a. Takes note of the repeated calls from obliged entities, namely financial institutions, for proper channels of enhanced dialogue, communication and exchange of information between private bodies and public authorities, on one hand, and among obliged entities themselves, on the other, to provide less fragmented information to FIUs; calls on the Commission to draw up guidelines in accordance with the AMLD5, for Member States to implement at national level in this regard, namely using the mechanisms provided in the General Data Protection Regulation for secure and lawful exchange of data;
Amendment 881 #
2018/2121(INI)
Motion for a resolution
Paragraph 133 a (new)
Paragraph 133 a (new)
133 a. Calls on Member States to ensure that registers of beneficial owners contain verification mechanisms to ensure the accuracy of the data; calls on the Commission to make assessment of verification mechanisms and reliability of the data in its reviews;
Amendment 890 #
2018/2121(INI)
Motion for a resolution
Paragraph 136
Paragraph 136
136. Underscores the problem of money laundering through investment in real estate in European cities through foreign shell companies; recalls that the Commission should assess the necessity and proportionality of harmonising the information in the land and real estate registers and assess the need for the interconnection of those registers; takes the view that Member States should have in place publicly accessible information on ultimate beneficial ownership of land and real estate; calls on the Commission, if appropriate, to accompany the report with a legislative proposal;
Amendment 916 #
2018/2121(INI)
Motion for a resolution
Paragraph 140
Paragraph 140
140. Takes note of the expert-level work on electronic identification and remote KYC processes, which explores issues such as the possibility of financial institutions using electronic identification (e-ID) and of KYC portability to identify customers digitally; points out the advantages of having a European system of e-ID;
Amendment 920 #
2018/2121(INI)
Motion for a resolution
Paragraph 140 a (new)
Paragraph 140 a (new)
140 a. Urges the Commission to lead on creating a global framework regulating virtual currencies which takes into consideration the risks of these new technologies; recalls the dangers posed to consumers by Initial Coin Offerings (ICO’s) and urges the Commission to enact a proposal for their regulation as financial operations; notes in particular that cryptocurrencies' opacity can be used to facilitate money laundering and tax evasion; calls on the Commission to draft legislative proposals to ban certain anonymity measures on specific cryptocurrencies, on a case-by-case basis;
Amendment 949 #
2018/2121(INI)
Motion for a resolution
Paragraph 148
Paragraph 148
148. Recognises the effort made by some third countries to act decisively against BEPS; stresses, however, that such reforms should remain in line with existing WTO rules; considers the information gathered during the committee visit to Washington DC about the US tax reforms and their possible impact on international cooperation to be of particular importance; finds that some of the provisions of the US Tax Cuts and Jobs Act of 2017 would be incompatible with existing WTO rules according to some experts regrets certain provisions of the US tax reform seek, unilaterally and without any reciprocity, to revitalise transnational benefits attributable to US territory (presuming that these are generated, at least 50%, in US territory); welcomes the fact that the Commission is currently in the process of assessing the potential regulatory and commercial implications of, in particular, the BEAT, GILTI and FDII78 provisions of the new US tax reform; asks the Commission to inform Parliament of the results of the assessment; _________________ 78 Respectively ‘Base Erosion and Anti- Abuse Tax’ (BEAT), ‘Global Intangible Low Tax Income’ (GILTI) and ‘Foreign- Derived Intangible Income’ (FDII).
Amendment 977 #
2018/2121(INI)
Motion for a resolution
Paragraph 152
Paragraph 152
152. Deeply regrets the lack of transparency during the initial listing process by failing to ensure an objective application of the listing criteria laid down by ECOFIN, free from any political interference; welcomes, however, the improvement in transparency made by the disclosure of letters sent to jurisdictions screened by the CoC Group, as well as the set of commitment letters received; calls for all remaining undisclosed letters to be made publicly available to ensure scrutiny and proper implementation of commitments;
Amendment 982 #
2018/2121(INI)
Motion for a resolution
Paragraph 153
Paragraph 153
153. Welcomes the recent clarifications from the CoC Group on fair taxation criteria, especially regarding the lack of economic substance for jurisdictions having no corporate income tax rate or a rate close to 0 %; calls on the Member States to work towards the gradual improvement of the EU listing criteria to cover all harmful tax practices79 by determining a minimum level of effective taxation and by reviewing all potential harmful practices granting large tax exemptions or deductions which are disconnected from the domestic economy; regrets that the same criteria used to include the jurisdictions of third countries on the European list do not apply internally to Member States and that the EU consequently loses credibility to call on other countries to comply with standards of tax good governance; _________________ 79 Work on fair taxation criteria 2.1 and 2.2 of Council conclusions 14166/16 of 8 November 2016.
Amendment 984 #
2018/2121(INI)
Motion for a resolution
Paragraph 153 a (new)
Paragraph 153 a (new)
153 a. Welcomes the new OECD global standard on substantial activities factor to no or only nominal tax jurisdictions1a, largely inspired by the EU work on the EU listing process (Fair criterion 2.2 of the EU list); calls on EU Member States to push for a more ambitious global standard including a minimum level of effective taxation; _________________ 1a OECD, “Resumption of Application of Substantial Activities Factor to No or only Nominal Tax Jurisdictions Inclusive Framework on BEPS: Action 5”, http://www.oecd.org/tax/beps/resumption- of-application-of-substantial-activities- factors.pdf, 2018
Amendment 990 #
2018/2121(INI)
Motion for a resolution
Paragraph 154 a (new)
Paragraph 154 a (new)
154 a. Recalls a research study showing that tax avoidance via six EU Member States results in a loss of 42.8 billion in tax revenue in the other 22 Member States1a, which means that the net payment position of these countries can be offset against the losses they inflict on the tax base of other Member States; notes for instance, that the Netherlands impose a net cost on the Union as a whole of 11.2 billion euro, which means the country is in fact not a net contributor but a net recipient; _________________ 1a http://gabriel- zucman.eu/files/TWZ2018.pdf
Amendment 997 #
2018/2121(INI)
Motion for a resolution
Paragraph 154 b (new)
Paragraph 154 b (new)
154 b. Welcomes the expected review of the EU list in the first quarter of 2019; asks the Council to release a detailed assessment of commitments from jurisdictions which committed to reform and were listed on Annex II when the first EU list was released on December 5th2017; demands that jurisdictions listed on Annex II thanks to commitments made in 2017 are listed on Annex I if the due reforms have not been implemented by the end of 2018 or the agreed timeline;
Amendment 1000 #
2018/2121(INI)
Motion for a resolution
Paragraph 154 c (new)
Paragraph 154 c (new)
154 c. Notes that developing countries might not possess the resources to implement newly agreed international or European tax standards and /or might have more urgent tax gap issues to tackle to ensure they generate sufficient revenues to provide for essential public services; subsequently calls on the Council to exclude counter measures such as cuts in development aid;
Amendment 1001 #
2018/2121(INI)
Motion for a resolution
Paragraph 154 d (new)
Paragraph 154 d (new)
154 d. Notes that, according to data of the Organisation for Economic Cooperation and Development (OECD) on foreign direct investment, Luxembourg and the Netherlands combined have more inward investment than the US, the vast majority of which is in special-purpose entities with no substantial economic activity, and Ireland has more inward investment than either Germany or France; points out that, according to its National Statistics Office, foreign investment in Malta amounts to 1 474 %of the size of its economy; notes that, according to research carried out by the University of Amsterdam, 23 % of all corporate investments that ended up in tax havens passed through the Netherlands; believes that these data are a clear indication that some Member States are facilitating excessive profit-shifting activities at the expense of other Member States;
Amendment 1002 #
2018/2121(INI)
Motion for a resolution
Paragraph 154 e (new)
Paragraph 154 e (new)
154 e. Recalls that the European Commission has criticised seven member states - Belgium, Cyprus, Hungary, Ireland, Luxembourg, Malta and The Netherlands, for their "aggressive" tax policies, arguing that they have tax policies that undermine the integrity of the European single market;
Amendment 1004 #
2018/2121(INI)
Motion for a resolution
Paragraph 154 f (new)
Paragraph 154 f (new)
154 f. Calls, therefore, on the Commission to regard explicitly at least Luxembourg, the Netherlands, Ireland and Malta as EU tax havens;
Amendment 1005 #
2018/2121(INI)
Motion for a resolution
Paragraph 154 g (new)
Paragraph 154 g (new)
154 g. Notes the current negotiations between the EU and Switzerland towards a Framework Agreement; stresses its view that the EU should renegotiate its trade, economic and other relevant bilateral agreements with Switzerland to bring them into line with EU anti-tax fraud policy and anti-money laundering legislation, so as to eliminate serious flaws in the Swiss supervisory system which enable a policy of internal banking secrecy to continue, as well as the creation of offshore structures worldwide, tax fraud and tax evasion not constituting a criminal offence, weak supervision, the inadequate self-regulation of obliged entities, and aggressive prosecution and harassment of whistle-blowers;
Amendment 1010 #
2018/2121(INI)
Motion for a resolution
Paragraph 156
Paragraph 156
156. Calls on the Member States to adopt a single set of strong countermeasures, including automatic CFC rulwithholding taxes, exclusion from public procurement calls and withdrawal of business licences, for blacklisted jurisdictionsthe intermediaries and companies present in blacklisted tax havens and automatic CFC rules applied to the latter, unless the taxpayers convey genuine economic activities there and are subject to increased audit requirements; invites both tax administrations and taxpayers to cooperate to gather the relevant facts in case the controlled foreign company carries out substantive real economic activity and has substantial economic presence supported by staff, equipment, assets and premises, as evidenced by relevant facts and circumstances;
Amendment 1021 #
2018/2121(INI)
Motion for a resolution
Paragraph 158
Paragraph 158
158. Reiterates its call for the EU to have a leading role in the global fight against tax evasion, aggressive tax planning and money laundering, in particular through Commission initiatives in all related international forums; calls on the EU as a member of the G20 to aim for that forum to undertake a strong action against tax competition;
Amendment 1030 #
2018/2121(INI)
Motion for a resolution
Paragraph 159
Paragraph 159
159. Recalls its position regarding the creation of a globn intergovernmental tax body within the UN framework, which should be well equipped and have sufficient resources to ensure that all countries can participate on an equal footing in the formulation and reform of global tax policies;
Amendment 1038 #
2018/2121(INI)
Motion for a resolution
Paragraph 160
Paragraph 160
160. Calls for a globintergovernmental summit on remaining necessary global tax reforms in order to enhance international cooperation and put pressure on all countries, in particular their financial centres, to comply with transparency and fair taxation standards; calls for the Commission to take the initiative for such a summit and for the summit to allow for the establishment of the abovementioned globintergovernmental tax body;
Amendment 1041 #
2018/2121(INI)
Motion for a resolution
Paragraph 160 a (new)
Paragraph 160 a (new)
160 a. Calls on the Commission and the Member States to push for a second set of international tax reform gathering all countries interested on an equal footing and aiming at tackling the growing corporate tax race to the bottom and the allocation of taxing rights;
Amendment 1045 #
2018/2121(INI)
Motion for a resolution
Paragraph 161
Paragraph 161
161. Believes that supporting developing countries in combating tax evasion and aggressive tax planning, as well as corruption and secrecy that facilitate illicit financial flows, is of the utmost importance for strengthening policy coherence for development in the EU and improving developing countries’ tax capacities and domestic resource mobilisation; stresses the need to increase the share, in terms of aid and development, of financial and technical assistance to the national tax administrations of developing countries;
Amendment 1069 #
2018/2121(INI)
Motion for a resolution
Paragraph 167
Paragraph 167
167. Recalls the need for fair treatment of developing countries when negotiating tax treaties, taking into account their particular situation and ensuring a fair allocation of tax rights according to genuine economic activity and value creation; calls, in this regard, for adherence to the UN model tax convention to be used as a minimum standard and for transparency around treaty negotiations to be ensured;
Amendment 1097 #
2018/2121(INI)
Motion for a resolution
Paragraph 170 b (new)
Paragraph 170 b (new)
170 b. Notes that some tax treaties allow the development of potential harmful tax schemes, such as the ‘SingleMalt’ 1awhich directs profits to countries with which Ireland has a double taxation agreement but that do not have any corporation tax; asks the European Commission to investigate such schemes and assess if they constitute an abuse of tax treaties; _________________ 1a Christian Aid, ‘Impossible’ structures: tax outcomes overlooked by the 2015 tax Spillover analysis, Part Two, 2017 https://www.christianaid.ie/sites/default/fil es/2018-02/impossible-structures-tax- report.pdf
Amendment 1102 #
2018/2121(INI)
Motion for a resolution
Paragraph 171 a (new)
Paragraph 171 a (new)
171 a. Asks Member States to renegotiate their bilateral tax treaties with third countries with the aim of introducing anti-abuse clauses, preventing ‘treaty shopping’ and a race to the bottom among developing countries;
Amendment 1103 #
2018/2121(INI)
Motion for a resolution
Paragraph 171 b (new)
Paragraph 171 b (new)
171 b. Reiterates its call on the European Union and its Member States to ensure that, when negotiating tax and investment treaties with developing countries, income or profits resulting from cross-border activities be taxed in the source country, where value is extracted or created; stresses, in this regard, that the UN Model Tax Convention ensures a fairer distribution of taxing rights between source and residence countries; stresses than when negotiating tax treaties, the European Union and its Member States should comply with the principle of policy coherence for development established in Article 208 TFEU;
Amendment 1111 #
2018/2121(INI)
Motion for a resolution
Paragraph 172
Paragraph 172
172. Calls on the Commission to review all tax treaties in force and signed by Member States with third countries through impact assessment in order to identify potential negative impacts of such treaties on low and lower-middle income countries and to ensure that they treaties are all compliant with new global standards such as the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (‘MLI’); asks the Commission to release recommendations to Member States regarding their existing bilateral tax treaties to ensure that theynotes that the MLI represents OECD-based standards which were not established with consideration to the needs or challenges of developing countries; asks the Commission to release recommendations to Member States regarding their existing bilateral tax treaties to ensure that Member States are open to country context specific responses and enter into bilateral conversations with treaty countries to discuss allocation of taxing rights, and that bilateral tax treaties include general anti-abuse rules, looking at genuine economic activity and value creation;
Amendment 1115 #
2018/2121(INI)
Motion for a resolution
Paragraph 172 a (new)
Paragraph 172 a (new)
172 a. Calls on Member States to mandate the Commission to propose a European tax treaty template, containing a clause on significant digital presence, an anti-abuse rule and an anti-tax dumping clause including a minimum level of effective taxation set at 18% of profits;
Amendment 1132 #
2018/2121(INI)
Motion for a resolution
Paragraph 177
Paragraph 177
177. Welcomes the broad definition of both ‘intermediary’ and ‘reportable cross- border arrangement’ in the recently adopted DAC683 ; _________________ 83stresses that the relevant information in relation to potentially aggressive tax planning arrangements should also be accessible to the general public; _________________ 83 OJ L 139, 5.6.2018, p. 1. OJ L 139, 5.6.2018, p. 1.
Amendment 1149 #
2018/2121(INI)
Motion for a resolution
Paragraph 178 a (new)
Paragraph 178 a (new)
178 a. Calls for a rotation of auditors every 7 years to prevent conflicts of interests and the limitation of the provision of non-audit services to a minimum;
Amendment 1152 #
2018/2121(INI)
Motion for a resolution
Paragraph 178 b (new)
Paragraph 178 b (new)
178 b. Reiterates that intermediaries play a crucial role in facilitating money laundering and the financing of terrorism and should beheld accountable for these actions;
Amendment 1153 #
2018/2121(INI)
Motion for a resolution
Paragraph 178 c (new)
Paragraph 178 c (new)
178 c. Reiterates its call on the Commission to come forward with a legislative proposal on the separation of accounting firms and financial or tax service providers as well as on all advisory services, including a Union incompatibility regime for tax advisers, in order to prevent them from advising both public revenue authorities and taxpayers and to prevent other conflicts of interest;
Amendment 1158 #
2018/2121(INI)
Motion for a resolution
Paragraph 179 a (new)
Paragraph 179 a (new)
179 a. Points out that professional secrecy cannot be used for the purposes of protection, the covering up of illegal practices or violating the spirit of the law; urges that the client/attorney privilege principle should not impede adequate STRs or the reporting of other potentially illegal activities without prejudice to the rights guaranteed by the Charter of Fundamental Rights of the European Union and the general principles of criminal law; calls on the Commission to issue guidance on the interpretation and application of the legal privilege principle for professionals and to introduce a clear demarcation line between traditional judicial advice and lawyers acting as financial operators, in line with case-law of European courts;
Amendment 1159 #
2018/2121(INI)
Motion for a resolution
Paragraph 179 b (new)
Paragraph 179 b (new)
179 b. Calls on the Commission to assess the possibilities of blacklisting financial and non-financial intermediaries based in the EU which operate branches in countries blacklisted as non-cooperative jurisdictions or which are listed as high risk third countries by the Commission; Suggests further that intermediaries should be restricted from operating in the single market if convicted of financial crimes or of facilitating tax evasion;
Amendment 1161 #
2018/2121(INI)
Motion for a resolution
Paragraph 179 c (new)
Paragraph 179 c (new)
179 c. Pays tribute to the brave actions of whistle-blowers and recognizes their fundamental role in a democratic and accountable society;
Amendment 1167 #
2018/2121(INI)
Motion for a resolution
Paragraph 180 a (new)
Paragraph 180 a (new)
180 a. Calls for a general EU fund to be set up to give appropriate financial support to whistle-blowers whose livelihood is put at risk as a result of disclosures of criminal activity or facts with clear public interest;
Amendment 1174 #
2018/2121(INI)
Motion for a resolution
Paragraph 181 a (new)
Paragraph 181 a (new)
181 a. Is concerned by the impact of non- disclosure agreements in employment contracts and dismissal agreements, particularly in the financial sector; calls on the Commission to assess the possibility of proposing legislation banning abusive non-disclosure agreements and declared void agreements which limit the employee’s ability and right to report unlawful activity;
Amendment 1207 #
2018/2121(INI)
Motion for a resolution
Paragraph 188 a (new)
Paragraph 188 a (new)
188 a. Highlights that trade unions should have a greater role in the negotiation of whistleblowing policies and channels in the workplace; calls on Member States to allow, in national law, for whistle-blowers to report wrongdoing to a union representative if they feel they cannot report it internally;
Amendment 1224 #
2018/2121(INI)
Motion for a resolution
Paragraph 194 a (new)
Paragraph 194 a (new)
194 a. Notes that no EU Member States were included on the EU list of non- cooperative jurisdictions as EU Member States were not assessed; welcomes the declaration from the Chair of the Code of Conduct Group indicating that Member States could be assessed in the future1a; demands that such assessment is conducted without any further delay; _________________ 1a “The fact of screening the EU Member States with the same criteria is exactly what is under discussion in the context of the revision of the mandate of the Code Group that currently the Austrian Presidency of the Council is taking forward.” Exchange of views with Fabrizia Lapecorella, Chair of the Code of Conduct Group on Business Taxation, European Parliament, http://www.europarl.europa.eu/cmsdata/1 55396/TAX3%20Verbatim%2010%20Oct ober%202018_OR.pdfOct 2018
Amendment 1228 #
2018/2121(INI)
Motion for a resolution
Paragraph 197
Paragraph 197
197. Believes that the mandate of the CoC Group needs to be updated, since it addresses matters beyond the assessment of harmful EU tax practices, which is more than simply providing technical input to the decisions made by the Council; calls, based on the nature of the work undertaken by the Group which is also of a political nature, for such tasks to be brought back under a framework which enables democratic control or supervision, starting by applying transparency; invites Member States to update the mandate of the CoC Group to include a minimum level of effective taxation set at 18% of profits as well as an increased and improved work on harmful tax practices and on the EU listing process;
Amendment 1233 #
2018/2121(INI)
Motion for a resolution
Paragraph 199 a (new)
Paragraph 199 a (new)
199 a. Reiterates its call for the creation of an EU Tax Policy Coherence and Coordination Centre (EUTPCCC) within the structure of the Commission1a,which would ensure effective and expeditious cooperation between Member States’ and facilitate early warning in cases like the Cum Ex scandal; urges Member States to support this call and for the Commission to present a legislative proposal for such a mechanism; _________________ 1a European Parliament resolution of 6 July 2016 on tax rulings and other measures similar in nature or effect (2016/2038(INI))
Amendment 1280 #
2018/2121(INI)
Motion for a resolution
Paragraph 207
Paragraph 207
207. Takes the view that the work of the TAXE, TAX2, PANA and TAX3 committees should be continued, in the forthcoming parliamentary term, in a permanent structure within Parliament such as a subcommittee to the Committee on Economic and Monetary Affairs (ECON), including Members from a diverse range of committees; considers that the Commissioner for Taxation, the Chair of the CoC Group and the Finance minister holding the rotating EU presidency should appear at least twice a year before the heretofore mentioned permanent structure;
Amendment 2 #
2018/2114(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Stresses that, while making sure that all assignments resulting from the regulatory framework are carried out in full and within deadline, Union agencies should carefully adhere to their tasks and should not go beyondact in accordance with the mandates assigned to them by Parliament and the Council;
Amendment 3 #
2018/2114(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Asks that, in order to improve their level of accountability, Union agencies should reply to questions addressed to it by the European Parliament or by the Council not later than five weeks after their receipt; also suggests that, upon request, the Chairperson of an Union agency shall hold confidential oral discussions behind closed doors with the Chair, Vice-Chairs and Coordinators of the competent committee of the European Parliament;
Amendment 4 #
2018/2114(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Considers that Union agencies should, seek to regularlyave exceptional circumstances, seek to involve relevant stake holders and to apply the principles of better regulationgood governance, notably transparency and integrity, including by conducting open public consultations on their draft proposals for secondary and tertiary legal acts;
Amendment 5 #
2018/2114(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. BelievUnderlines that Parliament’s prerogatives should be respected at all times; believes therefore that Parliament should be systematically be involved, and on equal terms with the Commission and Council, in defining and weighting the criteria for the location of all Union bodies and agencies; recalls in this regard the commitment of the Council to engage in the revision of the Joint Statement of 19 July 2012 on decentralised agencies, with the aim of ensuring joint and strong involvement of all EU institutions;
Amendment 10 #
2018/2114(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Stresses that the location of the seat of an agency should not affect the execution of its powers and tasks, its governance structure, the operation of its main organisation or the main financing of its activities; underlines, however, that the location of an agency mightshould allow for the sharing among Union agencies ofimplementation of shared services among Union agencies, notably joint premises, since shared infrastructure, administrative support and facility management services trigger significant efficiency gains.
Amendment 479 #
2018/0197(COD)
Proposal for a regulation
Article 3 – paragraph 4 – point a
Article 3 – paragraph 4 – point a
(a) Member States of group 1 shall allocate at least 85 % of their total ERDF resources under priorities other than for technical assistance to PO 1 and PO 2, and at least 60 % to PO 1; at least 6 % of total ERDF resources at national level to PO 5;
Amendment 484 #
2018/0197(COD)
(a) Member States of group 1 shall allocate at least 875 % of their total ERDF resources under priorities other than for technical assistance to PO 1 and PO 2, and at least 60 % to PO 1;
Amendment 698 #
2018/0197(COD)
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
1. The ERDF shall support integrated territorial development based on territorial strategies in accordance with Article [23] of Regulation (EU) 2018/xxxx [new CPR] focused on urban areas ('sustainable urban development') within programmes under both goals referred to in Article 4(2) of that Regulation.
Amendment 712 #
2018/0197(COD)
Proposal for a regulation
Article 9 – paragraph 2 – subparagraph 1
Article 9 – paragraph 2 – subparagraph 1
At least 612 % of the ERDF resources at national level under the Investment for jobs and growth goal, other than for technical assistance, shall be allocated to sustainable urban development in the form of community-led local development, integrated territorial investments or another territorial tool under PO5.
Amendment 725 #
2018/0197(COD)
Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 2
Article 10 – paragraph 1 – subparagraph 2
This initiative shall cover all urban areasmunicipal authorities and groupings of municipal authorities in an integrated functional area and shall support the Urban Agenda of the Union.
Amendment 747 #
2018/0197(COD)
Proposal for a regulation
Article 10 – paragraph 2 – subparagraph 2
Article 10 – paragraph 2 – subparagraph 2
Amendment 775 #
2018/0197(COD)
Proposal for a regulation
Annex I – Table 1 – Policy objective 1 – Column 2 – Results – RCR 14
Annex I – Table 1 – Policy objective 1 – Column 2 – Results – RCR 14
RCR 14 - Enterprises usingUsers of public digital services*
Amendment 434 #
2018/0196(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point e
Article 4 – paragraph 1 – point e
(e) a Europe closer to citizens by fostering the sustainable and integrated development of urban, rural and coastal areas and municipal and local initiatives.
Amendment 485 #
2018/0196(COD)
Proposal for a regulation
Article 6 – paragraph 1 – introductory part
Article 6 – paragraph 1 – introductory part
1. Each Member State shall organise a partnership with the competent regional, municipal and local authorities. That partnership shall include at least the following partners:
Amendment 497 #
2018/0196(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point a
Article 6 – paragraph 1 – point a
(a) urbanregional, municipal and other public authorities;
Amendment 778 #
2018/0196(COD)
Proposal for a regulation
Article 14 – paragraph 2 – subparagraph 1
Article 14 – paragraph 2 – subparagraph 1
The Member State shallmay submit to the Commission by 31 March 2025 a request for the amendment of each programme in accordance with Article 19(1). The Member State shall justify the amendmentA possible change shall be substantiated by the Member State on the basis of the elements set out in paragraph 1.
Amendment 843 #
2018/0196(COD)
Proposal for a regulation
Article 15 – paragraph 10 – subparagraph 2 a (new)
Article 15 – paragraph 10 – subparagraph 2 a (new)
Should payments be suspended, the Member State concerned shall nonetheless be required to continue to operate the relevant programme or fund and to take over payments to final recipients or beneficiaries.
Amendment 931 #
2018/0196(COD)
Proposal for a regulation
Article 17 – paragraph 3 – subparagraph 1 – point d – point iv
Article 17 – paragraph 3 – subparagraph 1 – point d – point iv
(iv) specific territories targeted, including the planned use of integrated territorial investment, community-led local development or other territorial tools;
Amendment 955 #
2018/0196(COD)
Proposal for a regulation
Article 17 – paragraph 3 – subparagraph 2
Article 17 – paragraph 3 – subparagraph 2
Amendment 1048 #
2018/0196(COD)
Proposal for a regulation
Article 19 – paragraph 5 – subparagraph 1
Article 19 – paragraph 5 – subparagraph 1
The Member State may transfer during the programming period an amount of up to 510 % of the initial allocation of a priority and no more than 35 % of the programme budget to another priority of the same Fund of the same programme. For the programmes supported by the ERDF and ESF+, the transfer shall only concern allocations for the same category of region.
Amendment 1104 #
2018/0196(COD)
Proposal for a regulation
Article 22 – paragraph 1 – point c
Article 22 – paragraph 1 – point c
(c) another territorial tool supporting initiatives designed by the Member State or a subnational-level entity for investments programmed for the ERDF under the policy objective referred in Article 4(1)(e).
Amendment 1232 #
2018/0196(COD)
Proposal for a regulation
Article 31 – paragraph 2 – point a
Article 31 – paragraph 2 – point a
(a) for the ERDF support under the Investment for jobs and growth goal, and for the Cohesion Fund support: 2,54 %;
Amendment 1238 #
2018/0196(COD)
Proposal for a regulation
Article 31 – paragraph 2 – point b
Article 31 – paragraph 2 – point b
(b) for the ESF+ support: 4% and for programmes under Article 4(1)(c)(vii) of the ESF+ Regulation: 5 %;
Amendment 1267 #
2018/0196(COD)
Proposal for a regulation
Article 33 – paragraph 5
Article 33 – paragraph 5
Amendment 1307 #
2018/0196(COD)
Proposal for a regulation
Article 37 – paragraph 1 – subparagraph 1
Article 37 – paragraph 1 – subparagraph 1
The managing authority shall electronically transmit to the Commission cumulative data for each programme by 31 January, 31 March, 31 May, 31 July, 30 September and 30 Novy and 30 September of each year in accordance with the template set out in Annex VII.
Amendment 1364 #
2018/0196(COD)
Proposal for a regulation
Article 45 – paragraph 1 – point e – paragraph 2
Article 45 – paragraph 1 – point e – paragraph 2
Amendment 1389 #
2018/0196(COD)
Proposal for a regulation
Article 50 – paragraph 2 – subparagraph 1 (new)
Article 50 – paragraph 2 – subparagraph 1 (new)
The hourly rate calculated in accordance with subparagraphs (a) and (b) shall be subject to annual adjustment in line with the rate of inflation and with applicable collective agreements.
Amendment 1431 #
2018/0196(COD)
Proposal for a regulation
Article 57 – paragraph 2 – subparagraph 1
Article 57 – paragraph 2 – subparagraph 1
Expenditure shall be eligible for a contribution from the Funds if it has been incurred by a beneficiary or the private partner of a PPP operation and paid in implementing operations, between the date of submission of the programme to the Commission or from 1 January 2021, whichever date is earlier, and 31 December 202930.
Amendment 1477 #
2018/0196(COD)
Proposal for a regulation
Article 63 – paragraph 7 – subparagraph 1
Article 63 – paragraph 7 – subparagraph 1
Member States shall ensure that all exchanges of information between beneficiaries and the programme authorities arcan be carried out by means of electronic data exchange systems in accordance with Annex XII.
Amendment 1635 #
2018/0196(COD)
Proposal for a regulation
Article 84 – paragraph 2 – subparagraph 1 – point a
Article 84 – paragraph 2 – subparagraph 1 – point a
(a) 2021: 0.52 %;
Amendment 1653 #
2018/0196(COD)
Proposal for a regulation
Article 84 – paragraph 2 – subparagraph 1 – point b
Article 84 – paragraph 2 – subparagraph 1 – point b
(b) 2022: 0.52 %;
Amendment 1685 #
2018/0196(COD)
Proposal for a regulation
Article 84 – paragraph 2 – subparagraph 1 – point d
Article 84 – paragraph 2 – subparagraph 1 – point d
(d) 2024: 01.5 %;
Amendment 1712 #
2018/0196(COD)
Proposal for a regulation
Article 84 – paragraph 2 – subparagraph 1 – point e
Article 84 – paragraph 2 – subparagraph 1 – point e
(e) 2025: 0.51 %;
Amendment 1792 #
2018/0196(COD)
Proposal for a regulation
Article 99 – paragraph 1
Article 99 – paragraph 1
1. The Commission shall decommit any amount in a programme which has not been used for pre-financing in accordance with Article 84 or for which a payment application has not been submitted in accordance with Articles 85 and 86 by 26 December of the seconthird calendar year following the year of the budget commitments for the years 2021 to 2026.
Amendment 1809 #
2018/0196(COD)
Proposal for a regulation
Article 99 – paragraph 3
Article 99 – paragraph 3
3. The part of commitments still open on 31 December 202930 shall be decommitted if the assurance package and the final performance report for programmes supported by the ESF+, the ERDF and the Cohesion Fund have not been submitted to the Commission by the time limit set out in Article 38(1).
Amendment 1941 #
2018/0196(COD)
Proposal for a regulation
Article 106 – paragraph 3 – subparagraph 1 – point b
Article 106 – paragraph 3 – subparagraph 1 – point b
(b) 5560 % for the transition regions;
Amendment 1947 #
2018/0196(COD)
Proposal for a regulation
Article 106 – paragraph 3 – subparagraph 1 – point c
Article 106 – paragraph 3 – subparagraph 1 – point c
(c) 450 % for the more developed regions.
Amendment 352 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47c – paragraph 3 a (new)
Article 47c – paragraph 3 a (new)
3 a. By way of derogation from paragraph 3, the following factors shall apply to the part of the non-performing exposure guaranteed or insured by an official export credit agency: (a) 0 for the secured part of the non- performing exposure to be applied during the period between one year and seven years following its classification as non- performing and (b) 1 for the secured part of the non- performing exposure to be applied as of the first day of the eighth year following its classification as non-performing. Where required to ensure appropriate coverage of risks, competent authorities may require institutions to apply an appropriate factor higher than 0, but lower or equal to the applicable factor referred to in paragraph 3.
Amendment 355 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47c – paragraph 3 b (new)
Article 47c – paragraph 3 b (new)
3 b. By way of derogation from paragraph 3, the following factors shall apply to the part of the non-performing exposure arising from a development loan guaranteed or insured by a central government of a Member State: (a) 0 for the secured part of the non- performing exposure to be applied during the period between one year and seven years following its classification as non- performing and (b) 1 for the secured part of the non- performing exposure to be applied as of the first day of the eighth year following its classification as non-performing. Where required to ensure appropriate coverage of risks, competent authorities may require institutions to apply an appropriate factor higher than 0, but lower or equal to the applicable factor referred to in paragraph 3.
Amendment 21 #
2018/0005(CNS)
Proposal for a directive
Recital 4
Recital 4
(4) In a definitive VAT system, all Member States should be treated equally and should therefore have the same restrictions in applying reduced VAT rates, which should remain an exception to the standard rate. Such equal treatment without restricting Member States current flexibility in setting VAT can be achieved by enabling all of them to apply a reduced rate for which the minimum requirement does not apply, as well asd avoiding a disproportionate fragmentation of the VAT system within the internal market can be achieved by enabling Member States to apply an exemption with the right to deduct input VAT, in addition to a maximum of twoone reduced rates of a minimum of 5 %.
Amendment 39 #
2018/0005(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2006/112/EC
Article 98 – paragraph 1 – subparagraph 1
Article 98 – paragraph 1 – subparagraph 1
Member States may apply a maximum of twoone reduced rates.
Amendment 41 #
2018/0005(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2006/112/EC
Article 98 – paragraph 2
Article 98 – paragraph 2
2. By way of derogation from paragraph 1, Member States may in addition to the two reduced rates apply a reduced rate lower than the minimum of 5% and an exemption with deductibility of the VAT paid at the preceding stage.
Amendment 43 #
2018/0005(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2006/112/EC
Article 98 – paragraph 3 – subparagraph 1
Article 98 – paragraph 3 – subparagraph 1
Reduced rates and exemptions applied pursuant to paragraphs 1 and 2 shall only benefit the final consumer and shall be applied to pursue, in a consistent manner, an objective of general interest. Priority shall be given to goods or services having positive social and / or environmental effects, including cases where the production and retail of such goods or services has positive social and / or environmental effects.
Amendment 203 #
2017/2072(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes the banking reform package proposed by the Commission in November 2016; underlines the importance of the fast-track procedure for the phasing- in of International Financial Reporting Standard (IFRS) 9 in order to avoid cliff effects on the regulatory capital of credit institutions; supports the efforts made to reduce the reporting burden for smaller banks; is concerned, however, about, although they do not go far enough; takes note of the proposed amendments to the waivers, in Articles 7 and 8 of the CRR, and more generally, about the proposed shift inof the prudential and liquidity requirements, and points out that, in the absence of additional security conditions, there could be a risk of the home-host balance; shifting.
Amendment 207 #
2017/2072(INI)
Motion for a resolution
Paragraph 6 – subparagraph 1 (new)
Paragraph 6 – subparagraph 1 (new)
points out that institutions are required, under the rules on supervision, to make numerous similar reports, in various formats, to a range of authorities and that this represents a substantial additional burden; calls, therefore, for the introduction of a uniform reporting system, whereby the questions from all the authorities responsible for supervision would be collated by a central contact point which would forward them to the institutions under supervision and would then transmit the data collected to the competent authorities; emphasises that this could be a means of preventing duplicated questions and requests for identical data, thus considerably reducing the administrative burden on the banks and competent authorities, and that it would also make for more efficient supervision;
Amendment 208 #
2017/2072(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Stresses the importance of having a level playing field in terms of supervision rules; emphasises, however, that that will not be not achieved by making all institutions subject to the same rules because smaller institutions face proportionately higher compliance costs than larger ones; stresses, therefore, the urgent need for further efforts to make banking supervision arrangements more proportionate for small, low-risk institutions; emphasises that improving proportionality by no means implies lowering supervisory standards, it simply means the administrative burden, in terms of compliance and disclosure requirements, for example, will be considerably lessened;
Amendment 214 #
2017/2072(INI)
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Points out that the leverage ratios of European banks of global systemic importance are already well above the 3% proposed by the Commission; recommends therefore that a higher leverage ratio be set for global systemically important banks because such banks are particularly vulnerable to excessive leverage and represent a particular risk in terms of financial stability;
Amendment 376 #
2017/2072(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Notes the potential benefits and the likely risks related to the introduction of an EDISuropean deposit reinsurance scheme; considers, therefore, risk reduction measures and a fiscal backstop provided by the European Stability Mechanism to be essential building blocks laying the foundations for an EDIS; uropean deposit reinsurance scheme;
Amendment 237 #
2017/0359(COD)
Proposal for a regulation
Article 51 – paragraph 1 – point b a (new)
Article 51 – paragraph 1 – point b a (new)
(ba) the ratios between remuneration of employees and board members in accordance with Article 28(2a) of Directive ----/-- [IFD];
Amendment 278 #
2017/0359(COD)
Proposal for a regulation
Article 60 – paragraph 1 – point 2 – point a
Article 60 – paragraph 1 – point 2 – point a
Regulation (EU) No 575/2013
Article 4 – paragraph 1 – point b – point i
Article 4 – paragraph 1 – point b – point i
(i) the total value of the assets of the undertaking exceeds EUR 30 billion, or(Does not affect the English version.)
Amendment 90 #
2017/0358(COD)
Proposal for a directive
Article 28 – paragraph 1 – point d a (new)
Article 28 – paragraph 1 – point d a (new)
(da) the ratio of remuneration between an investment firm’s employees and board members shall be proportionate;
Amendment 97 #
2017/0358(COD)
Proposal for a directive
Article 28 – paragraph 2 a (new)
Article 28 – paragraph 2 a (new)
2a. For the purposes of point (da), for those investment firms which do not comply with the criteria set in Article 30(4)(a), Member States shall ensure that they set a maximum remuneration ratio and that investment firms shall apply it. The investment firm shall calculate its remuneration ratio as quotients of: (i) the remuneration received by each individual member of its board; (ii) and the median of the annual remuneration of all its employees with the exception of board members.
Amendment 50 #
2017/0251(CNS)
Proposal for a directive
Recital 9 a (new)
Recital 9 a (new)
(9a) Information on whether an economic operator is a certified taxable person should be accessible via the VIES system.
Amendment 71 #
2017/0251(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 1 Directive 2006/112/EC
Article 1 – paragraph 1 – point 1 Directive 2006/112/EC
4a. Where the status of certified taxable person is granted, that information shall be made available via the VIES system. Changes to that status shall be updated in the system without delay.
Amendment 86 #
2017/0251(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2006/112/EC
Article 138 – paragraph 1 – point b
Article 138 – paragraph 1 – point b
(b) the taxable person or non-taxable legal person for whom the supply is made is identified for VAT purposes in a Member State other than that in which dispatch or transport of the goods begins and possesses a VAT identification number accessible via the VIES;
Amendment 378 #
2016/2247(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19a. Stresses that the establishment of an EDIS must improve financial stability and depositor confidence across the eurozone; steps must also be taken to ensure that under the EDIS no participating DGS has a lower level of protection for its covered deposits than would be the case under Directive 2014/49/EU; furthermore, Member States must retain the financial leeway to take alternative and institution-protecting measures at national level;
Amendment 389 #
2016/2247(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Emphasises that an EDIS should not have a purely paybox function; an EDIS should instead make it possible for funds available for alternative measures to be used to avert compensation cases and the costs involved in repaying depositors or potential risks to financial stability and to finance those measures accordingly; stresses that these measures must be introduced within a clearly defined legal framework and that the participating DGS must be equipped with the appropriate structures and competences so that the measures can be planned and implemented effectively and potential risks recognised;
Amendment 71 #
2016/2038(INI)
Motion for a resolution
Recital F
Recital F
F. whereas some specific tax jurisdictions, inside and outside the European Union, actively contribute to designing aggressive tax policies on behalf of MNEs who thereby avoid taxation; whereas the corporate tax rate in some jurisdictions is close or equal to zero per cent; whereas the complexity of different tax systems create a lack of transparency which is globally harmful;
Amendment 221 #
2016/2038(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Insists that concrete legislative action needs to be taken on transfer pricing, since 70 % of profit shifting is done through transfer pricing; taking into account the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administration 2010;
Amendment 240 #
2016/2038(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Strongly emphasises that the work of whistleblowers is crucial for revealing scandals of tax evasion and avoidance, and that, therefore, protection for whistleblowers needs to be legally guaranteed and strengthened EU-wide; notes that the European Court of Human Rights and the Council of Europe have undertaken work on this issue; considers that courts and Member States should ensure the protection of legitimate business secrets while in no way hindering, hampering or stifling the capacity of whistleblowers and journalists to document and reveal illegal, wrongful andor harmful practices where this is clearly and overwhelmingly in the public interest; regrets that the Commission has no plans for prompt action on the matter given the very recent and significant revelations provided to the public by a whistleblower, commonly referred to as the Panama Papers Scandal;
Amendment 327 #
2016/2038(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Calls on the Commission to put forward proposals for binding Union legislation on patent boxes that goes beyond the OECD Modified Nexus Approach, so as to prohibit the misuse of patent boxes and to ensure that if and when used they are linked to genuine economic activity; stresses that the Commission proposal should apply to all patent Boxes issued by the Member States;
Amendment 384 #
2016/2038(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Reiterates the crucial role of whistleblowers in revealing misconduct and, including illegal andor wrongful practices; considers that such revelations, which shine a light on the magnitude of tax evasion and avoidance, are clearly in the public interest, as demonstrated in the recent ‘Panama papers’ leak which showed the unexpectedly significant dimension of transferring assets to low tax jurisdictions;
Amendment 484 #
2016/2038(INI)
Motion for a resolution
Paragraph 42
Paragraph 42
42. Calls on the OECD to start work on an ambitious BEPS II, to be based primarily on minimum standards and concrete objectives for implementation; stresses the need for detailed implementation guidelines, for developing countries in particular, as well as the monitoring of the development of new harmful taxation measures;
Amendment 531 #
2016/2038(INI)
Motion for a resolution
Paragraph 49
Paragraph 49
49. Notes that the Panama Papers scandal has documented systematic use of shell companies by companies as well as private citizens in order to conceal taxable assets, although this specific issue could not be dealt with sufficiently within the mandate or timeframe of the Special Committee; is of the firm conviction that this subject must be addressed swiftly by Parliament;
Amendment 51 #
2016/0364(COD)
Proposal for a directive
Recital 6 a (new)
Recital 6 a (new)
(6a) The principle of equal pay for male and female workers for equal work or work of equal value is laid down in art 157 TFEU. This needs to be applied in a consistent way by credit institutions and investment firms. Therefore they should demonstrate a gender neutral remuneration policy.
Amendment 94 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point c
Article 1 – paragraph 1 – point 1 – point c
Directive 2013/36/EU
Article 2 – paragraph 6 a (new)
Article 2 – paragraph 6 a (new)
Member States shall ensure publication of a list of the entities excluded from the application of this Directive under paragraph 5a and 5b, together with information about the extent of any deposit protection.
Amendment 99 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point d
Article 1 – paragraph 1 – point 1 – point d
Directive 2013/36/EU
Article 2 – paragraph 7
Article 2 – paragraph 7
By [5 years after entry into force], the Commission shall review the list set out in Article 2(5) by considering whether the reasons that led to the inclusion of entities in the list are still valid, the national legal framework and supervision applicable to the entities in the list, the type and quality of deposit coverage of the entities in the list and, for entities of the type specified in paragraphs 2(5a) and 2(5b) taking into account also the criteria described therein.. The criteria set out in paragraphs 2(5a) and 2(5b) by which an institution may be exempted by a delegated act pursuant to Article 148 shall not apply under any circumstances to institutions that have previously been exempted under the list in paragraph 5.
Amendment 103 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a
Article 1 – paragraph 1 – point 2 – point a
Directive 2013/36/EU
Article 3 – point 64 a (new)
Article 3 – point 64 a (new)
(64a) Gender neutral remuneration policy in a credit institution or investment firm means a remuneration policy based on equal pay for women and men for equal work or work of equal value.
Amendment 104 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3 a (new)
Article 1 – paragraph 1 – point 3 a (new)
Directive 2013/36/EU
Article 8 – paragraph 1
Article 8 – paragraph 1
(3a) Article 8, paragraph 1 is amended as follows: "Member States shall require credit institutions to obtain authorisation from competent authorities before commencing their activities including those listed in Annex 1. Without prejudice to Articles 10 to 14, theyMember States shall lay down the requirements for such authorisation and notify EBA. (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013L0036&from=EN)" Or. en
Amendment 106 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Directive 2013/36/EU
Article 9 – paragraph 2 – point e
Article 9 – paragraph 2 – point e
(e) entities referred to in Article 2(5), Article 2(5a) and Article 2(5b), the activity of which is governed by national law..
Amendment 112 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2013/36/EU
Article 21b – paragraph 1
Article 21b – paragraph 1
1. Member States shall require that tTwo or more institutions in the Union, which are part of the same third country group, shall have an single intermediate EU parent undertaking that is established in the Union.
Amendment 118 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2013/36/EU
Article 21b – paragraph 1 a (new)
Article 21b – paragraph 1 a (new)
1 a. Competent authorities may allow the institutions referred to in paragraph 1 to have two intermediate EU parent undertakings where the competent authorities ascertain that a single intermediate EU parent undertaking would be incompatible with a mandatory requirement for separation of activities in accordance with the law of the third country where the ultimate parent undertaking of the third country group has its head office.
Amendment 167 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 11 a (new)
Article 1 – paragraph 1 – point 11 a (new)
Directive 2013/36/EU
Article 56 – point f a (new) and point f b (new)
Article 56 – point f a (new) and point f b (new)
(11a) In Article 56 points (fa) and (fb) are added: "(fa) competent authorities referred to in Article 48 of Directive (EU) 2015/849 of the European Parliament and of the Council; (fb) competent authorities or bodies responsible for the application of rules on structural separation within a banking group.”
Amendment 168 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 11 b (new)
Article 1 – paragraph 1 – point 11 b (new)
Directive 2013/36/EU
Article 63 – paragraph 1 – subparagraph 2 a (new)
Article 63 – paragraph 1 – subparagraph 2 a (new)
(11b) In Article 63, the following subparagraph is added at the end: "Member States shall provide that the competent authorities may, as a minimum, require the replacement of a person referred to in the first subparagraph if that person acts in breach of their obligations under the first subparagraph."
Amendment 171 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 11 a (new)
Article 1 – paragraph 1 – point 11 a (new)
Directive 2013/36/EU
Article 74
Article 74
(11a) Article 74 is amended as follows: "1. Institutions shall have robust governance arrangements, which include a clear organisational structure with well- defined ,transparent and consistent lines of responsibility, effective processes to identify, manage, monitor and report the risks they are or might be exposed to, adequate internal control mechanisms, including sound administration and accounting procedures, and remuneration policies and practices that are consistent with and promote sound and effective risk management. Those remuneration policies and practices shall be gender neutral. .2. The arrangements, processes and mechanisms referred to in paragraph 1 shall be comprehensive and proportionate to the nature, scale and complexity of the risks inherent in the business model and the institution's activities. The technical criteria established in Articles 76 to95 shall be taken into account 3. EBA shall issue guidelines on the 3. arrangements ,processes and mechanisms referred to in paragraph 1, in accordance with paragraph 2. (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013L0036&from=EN)One year after the adoption of this directive, EBA will issue guidelines on gender neutral remuneration policy for credit institutions and investment firms. Two years after the publication of these guidelines and based on the information collected by the national competent authorities, EBA will draft a report about the application of gender neutral remuneration policies by credit institutions and investment firms. " Or. en
Amendment 172 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Directive 2013/36/EU
Article 75 – paragraph 1
Article 75 – paragraph 1
1. Competent authorities shall collect the information disclosed in accordance with the criteria for disclosure established in points (g), (h), (i) and (k) of Article 450(1) of Regulation (EU) No 575/2013 and shall use its well as the information provided by credit institutions and investment firms on the gender pay gap and shall use this information to benchmark remuneration trends and practices. The competent authorities shall provide EBA with that information.
Amendment 186 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13 a (new)
Article 1 – paragraph 1 – point 13 a (new)
Directive 2013/36/EU
Article 84 a (new)
Article 84 a (new)
Amendment 190 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 14 a (new)
Article 1 – paragraph 1 – point 14 a (new)
Directive 2013/36/EU
Article 85 a (new)
Article 85 a (new)
Amendment 191 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 14 b (new)
Article 1 – paragraph 1 – point 14 b (new)
Directive 2013/36/EU
Article 88 – paragraph 1 – subparagraph 3 a (new)
Article 88 – paragraph 1 – subparagraph 3 a (new)
(14b) In Article 88, the following subparagraph is inserted at the end: Member States shall at least ensure that management bodies of an institution monitor loans to related parties on an ongoing basis and notify such loans to the competent authority. Competent authorities shall have the power to prohibit or limit such loans if they give rise to any conflicts of interest. "
Amendment 194 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 14 c (new)
Article 1 – paragraph 1 – point 14 c (new)
Directive 2013/36/EU
Article 91 – paragraph 1
Article 91 – paragraph 1
Amendment 196 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 14 d (new)
Article 1 – paragraph 1 – point 14 d (new)
Directive 2013/36/EU
Article 91 – paragraph 7
Article 91 – paragraph 7
(14d) In Article 91, paragraph 7 is amended as follows: "7. The management body shall possess adequate collective knowledge, skills and experience to be able to understand the institution's activities, including the main risks. lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2013:176:0338:0436:En:PDF)The overall composition of the management body shall reflect an adequately broad range of experience. " Or. en (http://eur-
Amendment 204 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 15 – point b
Article 1 – paragraph 1 – point 15 – point b
Directive 2013/36/EU
Article 92 – paragraph 2 – introductory phrase
Article 92 – paragraph 2 – introductory phrase
Competent authorities shall ensure that, when establishing and applying the total remuneration policies, inclusive of salaries and discretionary pension benefits, for categories of staff whose professional activities have a material impact on their risk profile, including senior management, risk takers, staff engaged in control functions and any employee receiving total remuneration that takes them into the same remuneration bracket as senior management and risk takers, whose professional activities have a material impact on their risk profile, institutions comply with the following principles in a manner that is appropriate to their size, internal organisation and the nature, scope and complexity of their activities..
Amendment 208 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 15 – point b a (new)
Article 1 – paragraph 1 – point 15 – point b a (new)
Directive 2013/36/EU
Article 92 – paragraph 2 – point a a (new)
Article 92 – paragraph 2 – point a a (new)
(ba) In paragraph 2, the following point (aa) is inserted: (aa) the remuneration policy is gender neutral: female and male workers will be equally remunerated for equal work or work of equal value.
Amendment 271 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 21 – point a
Article 1 – paragraph 1 – point 21 – point a
Directive 2013/36/EU
Article 104 – paragraph 1 – introductory part
Article 104 – paragraph 1 – introductory part
1. For the purposes of Article 92(2)(b), Article 97, Article 98(4), Article 101(4) and Article 102 and the application of Regulation (EU) No 575/2013, competent authorities shall have at least the following powers:
Amendment 275 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 21 – point a
Article 1 – paragraph 1 – point 21 – point a
Directive 2013/36/EU
Article 104 – paragraph 1 – point g
Article 104 – paragraph 1 – point g
(g) to require institutions to limit variable remuneration as a percentage of net revenues where it is inconsistent with the maintenance of a sound capital base; and, to require credit institutions and investment firms to comply with the guidelines issued by EBA on gender neutral remuneration policies.
Amendment 310 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 22
Article 1 – paragraph 1 – point 22
Directive 2013/36/EU
Article 104b – paragraph 1 – introductory part
Article 104b – paragraph 1 – introductory part
1. Pursuant to the strategies and processes referred to in Article 73 and after consulting the competent authority, institutions shall establish an adequate level of own funds that is sufficiently above the requirements set out in Parts Three, Four, Five and Seven of Regulation (EU) No 575/2013 and in this Directive, including the additional own funds requirements imposed by the competent authorities in accordance with Article 104(1)(a), in order to ensure thathat the institution’s own funds can absorb potential losses identified pursuant to the supervisory stress test referred to in Article 100, without breaching either:
Amendment 313 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 22
Article 1 – paragraph 1 – point 22
Directive 2013/36/EU
Article 104b – paragraph 1 – point a
Article 104b – paragraph 1 – point a
(a) cyclical economic fluctuations do not lead to a breach of those requirements; andthe own funds requirements set out in Parts Three, Four, Five and Seven of Regulation (EU) No 575/2013 and the additional own funds requirements imposed by the competent authorities in accordance with Article 104(1)(a) where competent authorities shall take into account credible management actions and dynamic adjustments to the balance sheet that may take place over the projection horizon, or
Amendment 314 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 22
Article 1 – paragraph 1 – point 22
Directive 2013/36/EU
Article 104b – paragraph 1 – point b
Article 104b – paragraph 1 – point b
(b) the institution’s own funds can absorb, without breaching the own funds requirements set out in Parts Three, Four, Five and Seven of Regulation (EU) No 575/2013 and the additional own funds requirements imposed by the competent authorities in accordance with Article 104(1)(a), potential losses identified pursuaa minimum fixed level of own funds set by the competent authorities, where competent authorities may take into account credible management actions and dynamic adjustments to the supervisory stress test referred to in Article 100balance sheet that may take place over the projection horizon.
Amendment 325 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 22
Article 1 – paragraph 1 – point 22
Directive 2013/36/EU
Article 104b – paragraph 5 a (new)
Article 104b – paragraph 5 a (new)
5 a. The EBA shall review and report to the Commission on the application of this Article, including paragraph 1 (a) and (b) within the three years following the entry into force of this Directive. On the basis of this report the Commission shall, if appropriate, submit a legislative proposal to the European Parliament and the Council.
Amendment 335 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 26
Article 1 – paragraph 1 – point 26
Directive 2013/36/EU
Article 113 – paragraph 1 – point c
Article 113 – paragraph 1 – point c
Amendment 336 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 26
Article 1 – paragraph 1 – point 26
Directive 2013/36/EU
Article 113 – paragraph 1 a (new)
Article 113 – paragraph 1 a (new)
1 a. The consolidating supervisor shall inform the competent authorities responsible for the supervision of subsidiaries of an EU parent institution, an EU parent financial holding company or an EU parent mixed financial holding company in a Member State of on any expectation for adjustments to the consolidated level of own funds in accordance with Article 104b(3).
Amendment 373 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 30 d (new)
Article 1 – paragraph 1 – point 30 d (new)
Directive 2013/36/EU
Article 133 – paragraph 11 – point e
Article 133 – paragraph 11 – point e
(e) the justification for why none of the existing measures in this Directive or in Regulation (EU) No 575/2030 d) In Article 133, excluding Articles 458 and 459 of that Regulation, alone or in combination, will be sufficient to address the identified macroprudential or systemic risk taking into account the relative effectiveness of those measures; (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013L0036&from=FR)paragraph 11, point e is deleted: "deleted " Or. en
Amendment 375 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 30 e (new)
Article 1 – paragraph 1 – point 30 e (new)
Directive 2013/36/EU
Article 133 – paragraph 12 – point e
Article 133 – paragraph 12 – point e
(e) the justification for why none of the existing measures in this Directive or in Regulation (EU) No 575/2013, excluding Articles 458 and 459 of that Regulation, alone or in combination, will be sufficient to address the identified macroprudential or systemic risk taking into account the relative effectiveness of those measures; (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013L0036&from=FR)30 e) Article 133, paragraph 12, point e is deleted: "deleted " Or. en
Amendment 380 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 30 a (new)
Article 1 – paragraph 1 – point 30 a (new)
Directive 2013/36/EU
Article 136 – paragraph 3 – introductory part
Article 136 – paragraph 3 – introductory part
Amendment 382 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 30 b (new)
Article 1 – paragraph 1 – point 30 b (new)
Directive 2013/36/EU
Article 136 – paragraph 7 – introductory part
Article 136 – paragraph 7 – introductory part
(30 b) Article 136(7), introductory part is replaced by the following: "Each designated authority shall announce the quarterly setting of thapplicable countercyclical buffer rate by publication on its website. The announcement shall include at least the following information: (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013L0036&from=FR)" Or. en
Amendment 384 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 30 c (new)
Article 1 – paragraph 1 – point 30 c (new)
Directive 2013/36/EU
Article 136 – paragraph 7 – subparagraph 3
Article 136 – paragraph 7 – subparagraph 3
(30 c) In Article 136, paragraph 7, subparagraph 3 is amended as follows: "Designated authorities shall notify each quarterly setting of ththe applicable countercyclical buffer rate and the information specified in points (a) to (g) to the ESRB quarterly. The ESRB shall publish on its website all such notified buffer rates and related information. (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013L0036&from=FR Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concernDesignated authorities of participating Member States, as defined by Council Regulation (EU) No 1024/2013, shall also notify the applicable countercyclical buffer rate and the information specified ing policies relating to the prudential supervision of creditints (a) to (g) to the ECB quarterly. " (See the ECB's opinion (CON/2017/46)) Or. en institutions (OJ L 287, 29.10.2013, p. 63).)
Amendment 40 #
2016/0363(COD)
Proposal for a directive
Recital 4 a (new)
Recital 4 a (new)
(4a) In the interests of planning and legal certainty for the markets and for individual institutions and a level playing field for institutions, it is necessary to introduce safeguards, under existing national legislation, for the eligibility of debt instruments issued before the entry into force of this Directive.
Amendment 62 #
2016/0363(COD)
Proposal for a directive
Recital 13
Recital 13
(13) It is appropriate for the amendments to Directive 2014/59/EU provided for in this Directive to apply to liabilitieunsecured claims resulting from debt instruments issued on or after the date of application of this Directive and to liabilities still outstanding as of that date. However, for legal certainty purposes and to mitigate transitional costs in as much as possible, Member State should ensure that the treatmentinsolvency ranking of all outstanding liabilities that credit institutions and investment firmunsecured claims resulting from debt instruments that institutions have issued before that date is governed by the laws of the Member States as they were adopted on [31 December 2016]. Outstanding liabilities should thus continue to be subject to the regulatory requirements set out in Directive 2014/59/EU and the relevant national law in the version that was adopted on [31 December 2016]To the extent that certain national laws as adopted on 31 December 2016 could have already addressed the objective of allowing institutions to issue subordinated liabilities, part or all outstanding unsecured claims resulting from debt instruments issued prior to the date of application of this Directive may have the same insolvency ranking as the 'non- preferred' senior debt instruments issued under the conditions of this Directive.
Amendment 92 #
2016/0363(COD)
Proposal for a directive
Article 1 – paragraph 2
Article 1 – paragraph 2
Directive 2014/59/EU
Article 108 – paragraph 4 a (new)
Article 108 – paragraph 4 a (new)
4a. Member States which, prior to 31 December 2016 have adopted a national law governing normal insolvency proceedings whereby unsecured claims resulting from debt instruments issued by entities referred to in points (a), (b), (c) and (d) of Article 1(1) are split into two or more different priority rankings or where the priority ranking of unsecured claims resulting from debt instruments is changed in relation to all other ordinary unsecured claims of the same ranking, may provide that debt instruments with the lowest priority ranking among those ordinary unsecured claims have the same ranking as the one of claims that meet the conditions of paragraph 2(b) and (c) and paragraph 3.
Amendment 69 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 1 a (new)
Article 1 – paragraph 1 a (new)
Directive 2014/59/EU
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
1 a. In Article 2(1), point (2) is replaced by the following: "(2) ‘credit institution’ means a credit institution as defined in point (1) of Article 4(1) of Regulation (EU) No 575/2013, not including the entities referred to in Article 2(5) of Directive 2013/36/EU; (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32014L0059&from=EN), Article 2(5a) and Article 2(5b) of Directive 2013/36/EU;" Or. en
Amendment 162 #
2016/0360B(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 120 – point b
Article 1 – paragraph 1 – point 120 – point b
Regulation (EU) No 575/2013
Article 493 – paragraph 4 – subparagraph 1
Article 493 – paragraph 4 – subparagraph 1
4. By way of derogation from Article 395(1), competent authorities may allow institutions to incur one of theall exposures provided for in points (a) (c) (d) (e) of Article 400(1) denominated and funded aragraph 5 meeting the currency of any Member States up to the following values, after taking into account the effect of the credit risk mitigation in accordance with Articles 399 to 403onditions set out in paragraph 6, up to the following maximum limits:
Amendment 170 #
2016/0360B(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 120 – point b (new)
Article 1 – paragraph 1 – point 120 – point b (new)
Regulation (EU) No 575/2013
Article 493 – paragraph 4 – subparagraph 1 a (new)
Article 493 – paragraph 4 – subparagraph 1 a (new)
(ca) The maximum limits specified in points (a), (b), and (c) of the first subparagraph shall apply to exposure values after taking into account the effect of credit risk mitigation in accordance with Articles 399 to 403.
Amendment 171 #
2016/0360B(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 120 – point b
Article 1 – paragraph 1 – point 120 – point b
Regulation (EU) No 575/2013
Article 493 – paragraph 5
Article 493 – paragraph 5
5. Exposures referred to in points (a) (c) (d) (e) of Article 400(1) denominated and funded in the currency of any Member State and incurred by institutions before 22 November 2016 shall be exempted from the application ofThe treatment set out in paragraph 4shallapply to the following exposures: (a) asset items constituting claims on central governments, central banks, or public sector entities of Member States; (b) asset items constituting claims expressly guaranteed by central governments, central banks, or public sector entities of Member States; (c) other exposures to, or secured by, central governments, central banks, or public sector entities of Member States; (d) asset items constituting claims on regional governments or local authorities of Member States treated as exposures to the central government in accordance with Article 115(2); (e) other exposures to, or secured by, regional governments or local authorities of Member States treated as exposures to the central government in accordance with Article 115(2). For the purposes of points (a), (b), and (c) of the first subparagraph, the treatment set out in paragraph 4 shall apply only to asset items and other exposures to, or secured by, public sector entities which are treated as exposures to the central government, a regional government, or a local authority in accordance with Article 116(4). Where asset items and other exposures to, or secured by, public sector entities are treated as exposures to a regional government or local authority in accordance with Article 116(4), treatment under paragraph 4 may be applied only if the exposures to that regional government or local authority are treated as exposures to the central government in accordance with Article 395. 115(2).
Amendment 172 #
2016/0360B(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 120 – point b (new)
Article 1 – paragraph 1 – point 120 – point b (new)
Regulation (EU) No 575/2013
Article 493 – paragraph 5 a (new)
Article 493 – paragraph 5 a (new)
5a. Treatment under paragraph 4 may be applied only if an exposure as referred to in paragraph 5 meets all of the following conditions: (a) the exposure has been assigned a risk weight of 0% in accordance with Article 495(2) as it stood before 1 January 2018; (b) the exposure was incurred on or after [date of adoption to be added when the text is published].
Amendment 173 #
2016/0360B(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 120 – point b (new)
Article 1 – paragraph 1 – point 120 – point b (new)
Regulation (EU) No 575/2013
Article 493 – paragraph 5 b (new)
Article 493 – paragraph 5 b (new)
5b. An exposure as referred to in paragraph 5 incurred before [date of adoption to be added when the text is published] to which a risk weight of 0% was assigned on 31 December 2017 in accordance with Article 495(2) shall be exempted from the application of Article 395(1).”
Amendment 256 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point b a (new)
Article 1 – paragraph 1 – point 4 – point b a (new)
Regulation (EU) No 575/2013
Article 6 – paragraph 4
Article 6 – paragraph 4
(ba) Paragraph 4 is replaced by the following: "4. Credit institutions and investment firms that are authorised to provide the investment services and activities listed in points (3) and (6) of Section A of Annex I to Directive 2004/39/EC shall comply with the obligations laid down in Part Six on an individual basis. Credit institutions that are recognised as Central Counterparties Parties (CCPs) as laid down in Article 14 of Regulation (EU) No 648/2012 and that do not perform maturity transformation shall be exempted from the obligations laid down in Article 413(1) on an individual basis. Pending the report from the Commission in accordance with Article 508(3), competent authorities may exempt investment firms from compliance with the obligations laid down in Part Six taking into account the nature, scale and complexity of the investment firms' activities." (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013R0575&from=DE)Or. en
Amendment 258 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point b a (new)
Article 1 – paragraph 1 – point 4 – point b a (new)
Regulation (EU) No 575/2013
Article 6 – paragraph 5
Article 6 – paragraph 5
(ba) Paragraph 5 is replaced by the following "5. Institutions, except for investment firms referred to in Article 95(1) and Article 96(1) and institutions for which competent authorities have exercised the derogation specified in Article 7(1) or (3), shall comply with the obligations laid down in Part Seven on an individual basis." (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013R0575&from=DE) Credit institutions that are recognised as Central Counterparties (CCPs) as laid down in Article 14 of Regulation (EU) No 648/2012 shall be exempted from the obligations laid down in Part Seven on an individual basis." Or. en
Amendment 316 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 13 a (new)
Article 1 – paragraph 1 – point 13 a (new)
Regulation (EU) No 575/2013
Article 35
Article 35
(13a) Article 35 is replaced by the following: "Article 35 Unrealised gains and losses measured at fair value 1. Except in the case of the items referred to in Article 33, institutions shall not make adjustments to remove from their own funds unrealised gains or losses on their assets or liabilities measured at fair value." (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013R0575&from= 2. Institutions shall remove from their own funds unrealised gains on their assets or liabilities measured at fair value as referred to in paragraph 3. 3. The EBA shall develop draft regulatory technical standards to specify the conditions in accordance with which the requirements shall be applied for the purposes of paragraph 1. The EBA shall submit those draft regulatory technical standards to the Commission by [one year after entry into force of this Regulation]. Power is delegated to the Commission to adopt the regulatory technical standards in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010." Or. en)
Amendment 421 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 32
Article 1 – paragraph 1 – point 32
1a. An institution shall obtain the prior permission of the resolution authority to do either or both of the following: (a) effect the call, redemption, repayment or repurchase of eligible liabilities instruments that are not covered by paragraph 1, prior to the date of their contractual maturity; (b) effect the call, redemption, repayment or repurchase of instruments with a residual maturity below one year that previously qualified as eligible liabilities instruments and that are not covered by paragraph 1, where the institution on an individual basis or the resolution group of which the institution is a subsidiary on a consolidated basis, as applicable, does not comply with the minimum requirement for own funds and eligible liabilities. 1b. The competent authorities may substitute the prior permission requirement in paragraph 1 by a notification requirement if the reduction of the Common Equity Tier 1 capital, Additional Tier 1 capital and Tier 2 capital as applicable is immaterial.
Amendment 545 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 49
Article 1 – paragraph 1 – point 49
Regulation (EU) No 575/2013
Article 104 a – paragraph 2 – subparagraph 1
Article 104 a – paragraph 2 – subparagraph 1
Amendment 547 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 49
Article 1 – paragraph 1 – point 49
Regulation (EU) No 575/2013
Article 104 a – paragraph 5
Article 104 a – paragraph 5
5. The re-classification of a position in accordance with this article apart from re- classifications directly enforced under Article 104, shall be irrevocable.
Amendment 597 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 65
Article 1 – paragraph 1 – point 65
Regulation (EU) No 575/2013
Article 279 a – paragraph 1 – point a – definition of sign
Article 279 a – paragraph 1 – point a – definition of sign
sign = -1, where the transaction is a sold call option or a bought put option +1, where the transaction is a callbought call or sold put option
Amendment 598 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 65
Article 1 – paragraph 1 – point 65
Regulation (EU) No 575/2013
Article 279 a – paragraph 1 – point a – definition of type
Article 279 a – paragraph 1 – point a – definition of type
type = -1, where the transaction is a boughput option +1, where the transaction is a soldcall option
Amendment 599 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 65
Article 1 – paragraph 1 – point 65
Regulation (EU) No 575/2013
Article 280 – definition of ϵ
Article 280 – definition of ϵ
ϵ= for the hedging sets established in accordance with Article 2757a(1), ϵ= for the hedging sets established in accordance with point (a) of Article 2757a(2), ϵ= for the hedging sets established in accordance with point (b) of Article 2757a(2).
Amendment 619 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 83
Article 1 – paragraph 1 – point 83
Regulation (EU) No 575/2013
Article 325 c – paragraph 1 – introductory part
Article 325 c – paragraph 1 – introductory part
1. AnyThe competent authorities may permit an institution to exclude certain foreign exchange risk positions which an institution has deliberately taken in order to hedge against the adverse effect of foreign exchange rates on its ratios referred to in Article 92(1) may, subject to permission of the competent authorities, be excluded from the calculation of own funds requirements for market risks, provided the following conditions are met: (See the ECB's opinion (CON/2017/47))
Amendment 624 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 v – paragraph 2 – point a
Article 325 v – paragraph 2 – point a
(a) the instrument references an exotic underlying;. Instruments with an exotic underlying are trading book instruments with an underlying exposure that is not in the scope of the delta, vega or curvature risk treatments under the sensitivities-based method laid down in Section 2 or the default risk charge laid down in Section 5. Exotic underlying exposures include: longevity risk, weather, natural disasters and future realised volatility.
Amendment 625 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 v – paragraph 2 – point b
Article 325 v – paragraph 2 – point b
(b) the instrument bears other residual risks. Instruments bearing other residual risks are those that meet the following criteria: (i) An instrument is subject to vega and curvature risk own funds requirements in the sensitivities-based method laid down in Section 2 and generates pay-offs that cannot be replicated as a finite linear combination of plain-vanilla options with a single underlying equity price, commodity price, exchange rate, bond price, credit default swap price or interest rate swap; or (ii) An instrument is a securitisation position that belongs to the correlation trading portfolio, as referred to in Article 104 paragraph 7 to paragraph 9. Non- securitisation hedges that belong to the CTP shall not be considered.
Amendment 626 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 v – paragraph 5 – subparagraph 2
Article 325 v – paragraph 5 – subparagraph 2
Amendment 639 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b a – paragraph 2 – introductory part
Article 325 b a – paragraph 2 – introductory part
2. Institutions that have been granted the permission referred to in paragraph 1 to use their internal models for eachone or more trading desk shall report to the competent authorities as follows:
Amendment 640 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b a – paragraph 2 – point b
Article 325 b a – paragraph 2 – point b
(b) for each desk for which this permission has been granted, the monthly own funds requirements for market risks calculated in accordance with Chapter 1a of this Title as if the institution not been granted the permission referred to in paragraph 1 and with all the positions attributed to the trading desk considered on a standalone basis as a separate portfolio. These calculations shall be reported to the competent authorities on a monthly basis.
Amendment 650 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Article 1 – paragraph 1 – point 84
Regulation (EU) No 575/2013
Article 325 b f – paragraph 2 – point c
Article 325 b f – paragraph 2 – point c
(c) there is a clear and apparent relationship between the value of the risk factor and each verifiable price identified by the institution in accordance with point (a), which means that any verifiable price that is observed for a transaction should be counted as an observation for all of the risk factors concerned.
Amendment 660 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 84
Article 1 – paragraph 1 – point 84
9. Institutions shall consider risk factors derived from a combination of modellable and non-modellable risk factors as non-modellable. Institutions may add modellable risk factors, and replace non-modellable risk factors by a basis between these additional modellable risk factors and these non- modellable risk factors. This basis will then be considered as a non-modellable risk factor.
Amendment 736 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 d – paragraph 2
Article 428 d – paragraph 2
2. By way of derogation from Article 428c(1), institutions shall take into account the accountingmarket value of derivative positions on a net basis where those positions are included in the same netting set that fulfils the requirements set out in Articles 295, 296 and 297. Where that is not the case, institutions shall take into account the accountingmarket value of derivative positions on a gross basis and they shall treat those derivatives positions as their own netting set for the purpose of Chapter 4 of this Title.
Amendment 843 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 a c – point f a (new)
Article 428 a c – point f a (new)
(fa) assets used for providing clearing and settlement services of precious metals such as gold, silver, platinum and palladium;
Amendment 844 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 a c – point f b (new)
Article 428 a c – point f b (new)
(fb) assets used for providing financing transactions of precious metals such as gold, silver, platinum and palladium of a term of 180 days or less;
Amendment 852 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 a f – point g
Article 428 a f – point g
(g) physical traded commodities, including gold, but excluding commodity derivatives and assets held for transactions that are not covered by Article 428ac (fa) and (fb).
Amendment 861 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 114
Article 1 – paragraph 1 – point 114
Regulation (EU) No 575/2013
Article 428 a r (new)
Article 428 a r (new)
3a. Article 428ar 10% required stable funding factor 1. Unencumbered assets eligible as Level 1 extremely high quality covered bonds in accordance with point (f) of Article 10(1) of Delegated Regulation (EU) 2015/61 shall be subject to a 10% required stable funding factor, regardless of their compliance with the operational requirements and with the requirements on the composition of the liquidity buffer as set out in Articles 8 and 17 of that Delegated Regulation. 2. For all netting sets of derivative contracts that are not subject to margin agreements under which institutions post variation margins to their counterparties, institutions shall apply a 10% required stable funding factor to the absolute market value of those netting sets of derivative contracts, gross of any collateral posted, where those netting sets have a negative market value.
Amendment 890 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 115
Article 1 – paragraph 1 – point 115
Regulation (EU) No 575/2013
Article 429 a – paragraph 1 – point f – point i
Article 429 a – paragraph 1 – point f – point i
(i) ,the guarantee is provided by an export credit agency or by aligible provider of unfunded credit protection in accordance with Articles 201 and 202, including export credit agencies or central governments;
Amendment 934 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 115
Article 1 – paragraph 1 – point 115
Regulation (EU) No 575/2013
Article 429 g a (new)
Article 429 g a (new)
Article 429ga Average exposure values for the purposes of reporting and disclosure for large institutions (1) For the purposes of Articles 430 and 451, large institutions according to Article 4 paragraph 1 point 144b shall calculate: (a) the sum of the total exposure values of the assets falling within Article 429(4)(a) as they stand on each day of the reporting period divided by the number of days in the reporting period; (b) the sum of the total exposure values of the contracts falling within Article 429(4)(b) as they stand on the last day of each month in the reporting period divided by the total number of months in the reporting period; (c) the sum of the total exposure values of the add-ons for counterparty credit risk of Securities Financing Transactions falling within Article 429(4)(c) as they stand on the last day of each month in the reporting period divided by the total number of months in the reporting period; (d) the sum of the total exposure values of the regular-way purchases or sales falling within Article 429(4)e) as they stand on the last day of each month in the reporting period divided by the total number of months in the reporting period.
Amendment 964 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 116
Article 1 – paragraph 1 – point 116
Regulation (EU) No 575/2013
Article 438 – point b
Article 438 – point b
(b) the composition of the additional cin terms of Common eEquity Tier 1, Additional Tier 1 and Tier 2 of the additional own funds requirements based on the supervisory review process as referred to in point (a) of Article 104(1) of Directive 2013/36/EU; (See the ECB's opinion (CON/2017/46))
Amendment 989 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 116
Article 1 – paragraph 1 – point 116
Regulation (EU) No 575/2013
Article 450 – paragraph 1 – point e a (new)
Article 450 – paragraph 1 – point e a (new)
(ea) the exposure values calculated in accordance with Article 429(h) for large institutions according to Article 4 paragraph 1 point 144b
Amendment 994 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 117 a (new)
Article 1 – paragraph 1 – point 117 a (new)
Regulation (EU) No 575/2013
Article 458 – paragraph 2
Article 458 – paragraph 2
(117a) In Article 458, paragraph 2 is replaced by the following: "2. Where the authority determined in accordance with paragraph 1 identifies changes in the intensity of macroprudential or systemic risk in the financial system with the potential to have serious negative consequences to the financial system and the real economy in a specific Member State and which that authority considers would better be addressed by means of stricter national measures, it shall notify the European Parliament, the Council, the Commission, the ESRB and EBA of that fact and submit relevant quantitative or qualitative evidence of all of the following: (a) the changes in the intensity of macroprudential or systemic risk; (b) the reasons why such changes could pose a threat to financial stability at national level; (c) a justification of why Articles 124 and 164 of this Regulation and Articles 101, 103, 104, 105, 133, and 136 of Directive 2013/36/EU cannot adequately address the macroprudential or systemic risk identified, taking into account the relative effectiveness of those measures; (d) draft national measures for domestically authorised institutions, or a subset of those institutions, intended to mitigate the changes in the intensity of risk and concerning: (i) the level of own funds laid down in Article 92; (ii) the requirements for large exposures laid down in Article 392 and Article 395 to 403; (iii) the public disclosure requirements laid down in Articles 431 to 455; (iv) the level of the capital conservation buffer laid down in Article 129 of Directive 2013/36/EU; (v) liquidity requirements laid down in Part Six; (vi) risk weights for targeting asset bubbles in the residential and commercial property sector; or (vii) intra financial sector exposures; (ed) an explanation as to why the draft measures are deemed by the authority determined in accordance with paragraph 1 to be suitable, effective and proportionate to address the situation; and (fe) an assessment of the likely positive or negative impact of the draft measures on the internal market based on information which is available to the Member State concerned. (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013R0575&from=FR)(f) an explanation as to how the outcome of the coordination mechanism between national designated authorities and the ECB as set out in Article 5(4) of Council Regulation (EU) No 1024/2013, have been considered in the draft national measures." (See the ECB's opinion (CON/2017/46) See Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions) Or. en
Amendment 1086 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 130 a (new)
Article 1 – paragraph 1 – point 130 a (new)
Regulation (EU) No 575/2013
Article 513
Article 513
(130a) Article 513 is replaced by the following: "Article 513 Macroprudential rules 1. By 30 June 20149, and every three years thereafter, the Commission shall, after consulting the ESRB and EBA, review whether the macroprudential rules contained in this Regulation and Directive 2013/36/EU are sufficient to mitigate systemic risks in sectors, regions and Member States including assessing: (a) whether the current macroprudential tools in this Regulation and Directive 2013/36/EU are effective, efficient and transparent; (b) whether the coverage and the possible degrees of overlap between different macroprudential tools for targeting similar risks in this Regulation and Directive 2013/36/EU are adequate and, if appropriate, propose new macroprudential rules; (c) how internationally agreed standards for systemic institutions interacts with the provisions in this Regulation and Directive 2013/36/EU and, if appropriate, propose new rules taking into account those internationally agreed standards. 2. By 31 December 20149, and every three years thereafter, the Commission shall, on the basis of the consultation with the ESRB and EBA, report to the European Parliament and the Council on the assessment referred to in paragraph 1 and, where appropriate, submit a legislative proposal to the European Parliament and the Council." (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013R0575&from=FR)Or. en
Amendment 100 #
2016/0337(CNS)
Proposal for a directive
Recital 3 a (new)
Recital 3 a (new)
(3a) The European Commission, in its communication to the European Parliament and the Council of 21 September 2017 entitled "A fair and efficient tax system in the European Union for the Digital Single Market", believes that the CCCTB offers the basis to address the tax challenges posed by the digital economy.
Amendment 149 #
2016/0337(CNS)
Proposal for a directive
Recital 8
Recital 8
(8) Taxable revenues should be reduced by business expenses and certain other items. Deductible business expenses should normally include all costs relating to sales and expenses linked to the production, maintenance and securing of income. To support innovation in the economy and modernise the internal market, deductions should be provided for research and development costs relating to expenses on staff, subcontractors, agency workers and freelancers, including super- deductions, and those should be fully expensed in the year incurred (with the exception of immovable property). Small starting companies without associated enterprises which are particularly innovative (a category which will in particular cover start-ups) should also be supported through enhanced super- deductions for research and development costs. In order to ensure legal certainty, there should also be a list of non-deductible expenses. A clear definition of costs of research and development is needed to avoid misuse of the deductions.
Amendment 246 #
2016/0337(CNS)
Proposal for a directive
Article 5 – paragraph 2 a (new)
Article 5 – paragraph 2 a (new)
Amendment 264 #
2016/0337(CNS)
Proposal for a directive
Article 9 – paragraph 2 a (new)
Article 9 – paragraph 2 a (new)
2a. The costs for research and development referred to in paragraph 2 shall include only expenses on staff, subcontractors, agency workers and freelancers.
Amendment 339 #
2016/0337(CNS)
Proposal for a directive
Article 45 a (new)
Article 45 a (new)
Article 45a Effective Tax Contribution As long as the threshold laid down in point (c) of Article 2(1) of this directive still is in place, Member States shall monitor and publish the effective tax contribution of SMEs and MNEs across the Member States, as to ensure a level playing field.
Amendment 403 #
2016/0337(CNS)
Proposal for a directive
Article 69 – paragraph 2 a (new)
Article 69 – paragraph 2 a (new)
The Commission shall monitor and publish its findings on the uniform implementation of this directive so as to avoid situations in which 28 competent authorities enforce 28 different regimes, and on the potential problems produced by differences in accounting regimes.
Amendment 38 #
2016/0336(CNS)
Proposal for a directive
Recital 1
Recital 1
(1) Companies which seek to do business across frontiers within the Union encounter serious obstacles and market distortions owing to the existence and interaction of 28 disparate corporate tax systems. Furthermore, tax planning structures have become ever-more sophisticated over time, as they develop across various jurisdictions and effectively take advantage of the technicalities of a tax system or of mismatches between two or more tax systems for the purpose of reducing the tax liability of companies. Digitisation greatly facilitates cross border business. Removing barriers to the Single Market, including tax barriers, and creating a more favourable business environment through neutral, simplified and coordinated tax rules is therefore more important than ever. Current rules may need to be adapted to respond to the digitalisation of our economy. Although those situations highlight shortcomings that are completely different in nature, they both create obstacles which impede the proper functioning of the internal market. Action to rectify these problems should therefore address both these types of market deficiencies.
Amendment 58 #
2016/0336(CNS)
Proposal for a directive
Recital 3
Recital 3
(3) As pointed out in the proposal of 16 March 2011 for a Council Directive on a Common Consolidated Corporate Tax Base (CCCTB)7 , a corporate tax system which treats the Union as a single market for the purpose of computing the corporate tax base of companies would facilitate cross-border activity for companies resident in the Union and promote the objective of making it a more competitive location for investment internationally. The proposal of 2011 for a CCCTB focussed on the objective of facilitating the expansion of commercial activity for businesses within the Union. In addition to that objective, it should also be taken into account that a CCCTB can be highly effective in improving the functioning of the internal market through countering tax avoidance schemes. In this light, the initiative for a CCCTB should be re- launched in order to address, on an equal footing, both the aspect of business facilitation and the initiative's function in countering tax avoidance. Once implemented in all Member States, the CCCTB would ensure that taxes are paid where profits arise. Such an approach would best serve the aim of eradicating distortions in the functioning of the internal market. __________________ 7 Proposal for a Council Directive COM (2011) 121 final/2 of 3.10.2011 on a Common Consolidated Corporate Tax Base.
Amendment 60 #
2016/0336(CNS)
Proposal for a directive
Recital 3 a (new)
Recital 3 a (new)
(3a) The European Commission, in its communication to the European Parliament and the Council of 21 September 2017 entitled "A fair and efficient tax system in the European Union for the Digital Single Market", believes that the CCCTB offers the basis to address the tax challenges posed by the digital economy.
Amendment 80 #
2016/0336(CNS)
Proposal for a directive
Recital 5
Recital 5
Amendment 89 #
2016/0336(CNS)
Proposal for a directive
Recital 5 a (new)
Recital 5 a (new)
(5a) Taking into account the digital change in the business environment, it is necessary to define the concept of a digital business establishment. Companies which raise revenues in a Member State without having a physical establishment in that Member State have to be treated in the same way as companies with a physical establishment.
Amendment 114 #
2016/0336(CNS)
Proposal for a directive
Recital 11 a (new)
Recital 11 a (new)
(11a) To end the race to the bottom on corporate tax rates at EU level, a European minimum effective corporate tax rate is required. On average, corporate tax in the European Union decreased from 35% in the 1990s to 22.5% today. By adopting the CCCTB, Member States will no longer be able to compete through tax bases, the result being further decreases in the corporate tax rates.
Amendment 117 #
2016/0336(CNS)
Proposal for a directive
Recital 13 a (new)
Recital 13 a (new)
(13a) The Commission should create a new department in DG TAXUD to monitor Member States’ tax revenues after the implementation of the CCCTB. In this view, the Commission should increase the means of this DG. This new department should be mandated to give guidance to companies and Member States’ tax administrations.
Amendment 119 #
2016/0336(CNS)
Proposal for a directive
Recital 13 b (new)
Recital 13 b (new)
(13b) As the High Level Group on Own Resources suggests, a part of the fiscal revenues gained from the common consolidated tax base can be used as an own resource for the Union budget, in order to proportionally reduce Member States’ contributions to the same budget. This should lead to a more effective way to levy taxes on exporting and multinational corporations, who benefit most from globalisation and the Single Market, and thus introduce a user-pays principle.
Amendment 125 #
2016/0336(CNS)
Proposal for a directive
Recital 16
Recital 16
(16) In order to supplement or amend certain non-essential elements of this Directive, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the Commission with respect of (i) taking into account changes to the laws of Member States concerning the company forms and corporate taxes and amend Annexes I and II accordingly; (ii) laying down additional definitions; and (iii) supplementing the rule on the limitation of interest deductibility with anti-fragmentation rules, to better address the tax avoidance risks which may emerge within a group. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level and the opinion of the European Parliament. The Commission, when preparing and drawing up delegated acts, should ensure a simultaneous, timely and appropriate transmission of relevant documents to the European Parliament and the Council.
Amendment 141 #
2016/0336(CNS)
Proposal for a directive
Article 2 – paragraph 1 – introductory part
Article 2 – paragraph 1 – introductory part
1. The rules of this Directive shall apply to a company that is established under the laws of a Member State, including its permanent establishments and digital business in other Member States, where the company meets all of the following conditions:
Amendment 144 #
2016/0336(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point c
Article 2 – paragraph 1 – point c
(c) it belongs to a consolidated group for financial accounting purposes with a total consolidated group revenue that exceeded EUR 750 000 000 during the finacorresponding to the amount laid down point (c) of Article 2(1) of Council Directive ... on a Common Corporate Tax Base1a+; _____________ 1aCouncial year preceding the relevant financial year; Directive ... on a Common Corporate Tax Base (OJ L ..., ....., p. ...). + OJ: Please insert the serial number of the document 2016/0337(CNS) into the title and complete footnote 1 with regard to the same document.
Amendment 149 #
2016/0336(CNS)
Proposal for a directive
Article 2 – paragraph 2 – subparagraph 1
Article 2 – paragraph 2 – subparagraph 1
This Directive shall also apply to a company that is established under the laws of a third country in respect of its permanent establishments situated in one or more Member States, and in relation to revenues otherwise accrued in a Member State, where the company meets the conditions laid down in points (b) to (d) of paragraph 1.
Amendment 156 #
2016/0336(CNS)
Proposal for a directive
Article 3 – paragraph 1 – point 23
Article 3 – paragraph 1 – point 23
(23) 'consolidated tax base' means the result of adding up the tax basesconsolidated net taxable revenue of allthe group members, as calculated on a consistent accounting basis applicable to all group members in accordance with Directive 2016/xx/EU;
Amendment 159 #
2016/0336(CNS)
Proposal for a directive
Article 3 – paragraph 1 – point 28 a (new)
Article 3 – paragraph 1 – point 28 a (new)
(28a) 'royalty cost' means costs arising from payments of any kind made as a consideration for the use of, or the right to use, any copyright of literary, artistic or scientific work, including cinematograph films and software, any patent, trademark, design or model, plan, secret formula or process, or for information concerning industrial, commercial or scientific experience, or any other intangible asset; payments for the use of, or the right to use, industrial, commercial or scientific equipment shall be regarded as royalty costs;
Amendment 161 #
2016/0336(CNS)
Proposal for a directive
Article 3 – paragraph 1 – point 28 b (new)
Article 3 – paragraph 1 – point 28 b (new)
(28b) 'transfer prices' means the prices at which an undertaking transfers tangible goods or intangible assets or provides services to associated undertakings;
Amendment 162 #
2016/0336(CNS)
Proposal for a directive
Article 3 – paragraph 1 – point 28 c (new)
Article 3 – paragraph 1 – point 28 c (new)
(28c) 'patent box' means a system used to calculate the income deriving from intellectual property (IP) which is eligible for tax benefits by establishing a link between the eligible expenditure effected when the IP assets were created (expressed as a proportion of the overall expenditure linked to the creation of the IP assets) and the income deriving from those IP assets; this system restricts the IP assets to patents or intangible goods with an equivalent function and provides the basis for the definition of 'eligible expenditure', 'overall expenditure' and 'income deriving from IP assets';
Amendment 163 #
2016/0336(CNS)
Proposal for a directive
Article 3 – paragraph 1 – point 28 d (new)
Article 3 – paragraph 1 – point 28 d (new)
(28d) ‘Digital business establishment’ means an establishment which is specifically directed towards consumers or businesses in a Member State regard shall be had to the fact that the business establishment is conducting its business under the top level domain of the Member State or of the EU, or in relation to mobile application based business, distributing its application via the Member State specific part of a mobile application distribution centre;
Amendment 164 #
2016/0336(CNS)
Proposal for a directive
Article 3 – paragraph 1 – point 28 e (new)
Article 3 – paragraph 1 – point 28 e (new)
(28e) An effective corporate tax rate means corporate tax paid in relation to earnings and profits in financial statements of the corporation.
Amendment 278 #
2016/0336(CNS)
Proposal for a directive
Article 73 – paragraph 1
Article 73 – paragraph 1
For the purposes of this Directive, the scope of controlled foreign company legislation under Article 59 of Directive 2016/xx/EU shall be limited to relations between group members and entities that are resident for tax purposes, or permanent establishments or digital business establishments that are situated, in a third country.
Amendment 286 #
2016/0336(CNS)
Proposal for a directive
Article 79 – paragraph 1
Article 79 – paragraph 1
The Commission shall, five years after the entry into force of this Directive, review its application and report to the Council on the operation of this Directive. The report shall in particular include an analysis of the impact of the mechanism set up in Chapter VIII of this Directive on the apportionment of the tax bases between the Member States. In drawing the conclusions of such a review, the Commission shall propose the terms and conditions to allocate a part of the tax revenues generated from the common consolidated corporate tax base to the budget of the European Union in order to proportionally reduce Member States contributions to the same budget.
Amendment 91 #
2016/0208(COD)
Proposal for a directive
Recital 21
Recital 21
(21) The specific factor determining the Member State responsible for the monitoring and registration of beneficial ownership information of trusts and similar legal arrangements should be clarified. In order to avoid that, due to differences in the legal systems of Member States, certain trusts are not monitored or registered anywhere in the Union, all trusts and similar legal arrangements should be registered where they are created, administered or operated. In order to ensure the effective monitoring and registration of information on the beneficial ownership of trusts, cooperation among Member States is also necessary.
Amendment 108 #
2016/0208(COD)
Proposal for a directive
Recital 34
Recital 34
Amendment 115 #
2016/0208(COD)
Proposal for a directive
Recital 35
Recital 35
Amendment 126 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point -1 (new)
Article 1 – paragraph 1 – point -1 (new)
Directive 2015/849/EU
Article 2 – paragraph 1 – point 3 – point a
Article 2 – paragraph 1 – point 3 – point a
Amendment 129 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point -1 a (new)
Article 1 – paragraph 1 – point -1 a (new)
Directive 2015/849/EU
Article 2 – paragraph 1 – point 3 – point b – point v a (new)
Article 2 – paragraph 1 – point 3 – point b – point v a (new)
(-1a) in point (b) of Article 2(1)(3), the following point is inserted: (va) tax planning and advice;
Amendment 132 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point -1 b (new)
Article 1 – paragraph 1 – point -1 b (new)
Directive 2015/849/EU
Article 2 – paragraph 1 – point 3 – point c a (new)
Article 2 – paragraph 1 – point 3 – point c a (new)
(-1b) In point (3) of Article 2(1), the following point is inserted: (ca) taxation and accountancy service providers not covered under point (a) or (b);
Amendment 138 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 1 a (new)
Article 1 – paragraph 1 – point 1 a (new)
Directive 2015/849/EU
Article 2 – paragraph 1 – point 3 – point h a (new)
Article 2 – paragraph 1 – point 3 – point h a (new)
(1a) In point (3) of Article 2(1), the following point is inserted: (ha) natural or legal persons trading in works of art, art gallerists, auction houses and platforms for storing, servicing and trading in works of art and other valuables ("freeports");
Amendment 152 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a
Article 1 – paragraph 1 – point 2 – point a
Directive 2015/849/EU
Article 3 – point 6 – point a – point i
Article 3 – point 6 – point a – point i
Amendment 153 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a
Article 1 – paragraph 1 – point 2 – point a
Directive 2015/849/EU
Article 3 – point 6 – point a – point i
Article 3 – point 6 – point a – point i
(a) in point (6)(a)(i), the followingsecond subparagraph is added: "For the purposes of Article 13(1)(b) and Article 30 of this Directive, thereplaced by the following: A shareholding of 10% plus one share or an ownership interest of more than 10% in the customer held by a natural person shall be an indication of direct ownership or control set out in the second paragraph is reduced to 10% whenever the legal entity is a Passive Non-Financial Entity as def. A shareholding of 10 % plus one share or an ownership interest of more than 10% in the customer held by a corporate entity, which is under the control of a natural person(s), or by multiple corporate entities, which are under the control of the same natural person(s), shall be an indication of indirect ownership. This applies without prejudice to the right of Member States to decide that a lower percentage may be an indication of ownership or control. Control through other means may be determined, in Directive 2011/16/EU.";ter alia, in accordance with the criteria in Article 22(1) to (5) of Directive 2013/34/EU of the European Parliament and of the Council.
Amendment 155 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a a (new)
Article 1 – paragraph 1 – point 2 – point a a (new)
Directive 2015/849/EU
Article 3 – point 6 – point a – point i a (new)
Article 3 – point 6 – point a – point i a (new)
(aa) in point (6)(a), the following point is inserted: (ia) senior managers, nominee directors, administrators and other proxies or agents shall never be identified as beneficial owners;
Amendment 156 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a a (new)
Article 1 – paragraph 1 – point 2 – point a a (new)
Directive 2015/849/EU
Article 3 – paragraph 6 – point a – point ii
Article 3 – paragraph 6 – point a – point ii
Amendment 163 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a c (new)
Article 1 – paragraph 1 – point 2 – point a c (new)
Directive 2015/849/EU
Article 3 – paragraph 1 – point 6 – point b
Article 3 – paragraph 1 – point 6 – point b
(ac) in point (6), point (b) is replaced by the following: "(b) in the case of trusts: (i) the settlor (s); (ii) the trustee (s); (iii) the protector (s), if any; (iv) the beneficiaries, or where the individuals benefiting from the legal arrangement or entity have yet to be determined, the class of persons in whose main interest the legal arrangement or entity is set up or operates; (iva) any other person mentioned in the trust deed or related document (regardless of any distribution, right, power or interest) (v) any other natural person exercising ultimate control over the trust by means of direct or indirect ownership or by other means;" Or. en (http://eur-lex.europa.eu/legal- content/EN/TXT/?qid=1481024906782&uri=CELEX:32015L0849)
Amendment 164 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a e (new)
Article 1 – paragraph 1 – point 2 – point a e (new)
Directive 2015/849/EU
Article 3 – point 9 – introductory part
Article 3 – point 9 – introductory part
Amendment 166 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a d (new)
Article 1 – paragraph 1 – point 2 – point a d (new)
Directive 2015/849/EU
Article 3 – point 9 – point g
Article 3 – point 9 – point g
(ad) in point (9), point (g) is replaced by the following: (g) members of the administrative, management or supervisory bodies of State-owned enterprisepublic and private enterprises as well as of foundations and any other religious and secular organisations;
Amendment 167 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a f (new)
Article 1 – paragraph 1 – point 2 – point a f (new)
Directive 2015/849/EU
Article 3 – point 9 – point h a (new)
Article 3 – point 9 – point h a (new)
(af) in point (9), the following point is added: "(ha) members of public administration, who are in charge of awarding public procurement contracts exceeding the thresholds referred to in Article 4 of Directive 2014/24/EU."
Amendment 172 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point c
Article 1 – paragraph 1 – point 2 – point c
Directive 2015/849/EU
Article 3 – point 18
Article 3 – point 18
(18) 'virtual currencies' means a digital representation of value that is neither issued by a central bank or a public authority, nor necessarily attached to a fiat currencattached to a legally established fiat currency, which does not possess the legal status of currency or money, but is accepted by natural or legal persons, as a means of payment andexchange and possibly also for other purposes, and which can be transferred, stored or traded electronically.;
Amendment 181 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 a (new)
Article 1 – paragraph 1 – point 2 a (new)
Directive 2015/849/EU
Article 7 – paragraph 4 – point e a (new)
Article 7 – paragraph 4 – point e a (new)
Amendment 190 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 c (new)
Article 1 – paragraph 1 – point 2 c (new)
Directive 2015/849/EU
Article 9 – paragraph 2 – point a – point iii
Article 9 – paragraph 2 – point a – point iii
(2c) in Article 9(2)(a), point (iii) is replaced by the following: (iii) requirements relationg to record- keeping; and
Amendment 191 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 d (new)
Article 1 – paragraph 1 – point 2 d (new)
Directive 2015/849/EU
Article 9 – paragraph 2 – point a – point iv
Article 9 – paragraph 2 – point a – point iv
(2d) in Article9(2)(a), point (iv) is replaced by the following: (iv) requirements to report suspicious transactions; and
Amendment 192 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 e (new)
Article 1 – paragraph 1 – point 2 e (new)
Directive 2015/849/EU
Article 9 – paragraph 2 – point a – point iva (new)
Article 9 – paragraph 2 – point a – point iva (new)
(2e) in Article 9(2)(a), the following point is added: (iva) requirements to ensure beneficial ownership transparency;
Amendment 194 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 f (new)
Article 1 – paragraph 1 – point 2 f (new)
Directive 2015/849/EU
Article 9 – paragraph 2 – point b
Article 9 – paragraph 2 – point b
(b) the powers and procedures2f) in Article 9(2), point (b) is replaced by the following: (b) the powers, procedures and political independence of the third country's competent authorities for the purposes of combating money laundering and terrorist financing;
Amendment 196 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 g (new)
Article 1 – paragraph 1 – point 2 g (new)
Directive 2015/849/EU
Article 9 – paragraph 2 – point c
Article 9 – paragraph 2 – point c
(2g) in Article 9(2), point (c) is replaced by the following: (c) the effectiveness of the AML/CFT system in addressing money laundering or terrorist financing risks of the third country., including an analysis of governance indicators, such as control of corruption, government effectiveness, political stability and absence of violence/terrorism, regulatory quality, the rule of law and accountability;
Amendment 197 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 h (new)
Article 1 – paragraph 1 – point 2 h (new)
Directive 2015/849/EU
Article 9 – paragraph 2 – point c a (new)
Article 9 – paragraph 2 – point c a (new)
(2h) in Article 9(2), the following point is inserted: (ca) the existence of proper sanction regime in case of breach of law;
Amendment 200 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 i (new)
Article 1 – paragraph 1 – point 2 i (new)
Directive 2015/849/EU
Article 9 – paragraph 2 – point c b (new)
Article 9 – paragraph 2 – point c b (new)
(2i) in Article 9(2), the following point is added: (cb) measures in place to protect whistleblowers who uncover information related to money laundering activities.
Amendment 201 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 a (new)
Article 1 – paragraph 1 – point 2 a (new)
Directive 2015/849/EU
Article 9 – paragraph 2 a (new)
Article 9 – paragraph 2 a (new)
(2a) in Article 9, the following paragraph is inserted: 2a. Paragraph 2 (a), (b) and (c) of Article 9 shall be taken into account during the negotiation of any trade, association and partnership agreements by the Commission or any Member State with a third country. The final agreement shall provide provisions for minimum standards and good governance clauses as provided in Annex II of the Communication from the Commission to the European Parliament and the Council on an External Strategy for Effective Taxation in the field of AML/CFT, improved cooperation and effective retaliatory measures if the third country fails to enforce these provisions.;
Amendment 210 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3 – point a – point i a (new)
Article 1 – paragraph 1 – point 3 – point a – point i a (new)
Directive 2015/849/EU
Article 12 – paragraph 1 – point e
Article 12 – paragraph 1 – point e
(i a) in the first subparagraph, point (e) is replaced by the following: '(e) the issuer carries out sufficient monitoring and ensures the traceability of the transactions or business relationship to enable the detection of unusual or suspicious transactions.'
Amendment 217 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 4 a (new)
Article 1 – paragraph 1 – point 4 a (new)
Directive 2015/849/EU
Article 13 – paragraph 6 a (new)
Article 13 – paragraph 6 a (new)
(4a) In Article 13, the following paragraph is added: 6a. Member States shall ensure that when customer due diligence measures, as described in this Article, do not allow the identification of the beneficial owner, or where there are reasonable doubts that the person(s) identified are the beneficial owner(s), the business relationship is refused or terminated, and that no transactions are executed.
Amendment 220 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Directive 2015/849/EU
Article 14 – paragraph 5
Article 14 – paragraph 5
5. Member States shall require that obliged entities apply the customer due diligence measures not only to all new customers but also at appropriate times to existing customers on a risk-sensitive basis, or when the relevant circumstances of a customer change, or when the obliged entity has a duty in the course of the relevant calendar year, to contact the customer for the purpose of reviewing any information related to the beneficial owner(s), in particular under Directive 2011/16/EU.; Member States shall require that obliged entities contact the customer for the purpose of reviewing any information related to the beneficial owner(s) not later than ... [one year after the date of the entry into force of this amending Directive].
Amendment 249 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 7 b (new)
Article 1 – paragraph 1 – point 7 b (new)
Directive 2015/849/EU
Article 20 a (new)
Article 20 a (new)
Amendment 257 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9 – point -a (new)
Article 1 – paragraph 1 – point 9 – point -a (new)
Directive 2015/849/EU
Article 30 – paragraph 1 – subparagraph 2 a (new)
Article 30 – paragraph 1 – subparagraph 2 a (new)
(-a) in paragraph 1 the following subparagraph is inserted: Member States shall ensure that owners of shares or voting rights or ownership interest in corporate and other legal entities, including through bearer shareholdings, or through control via other means, disclose to those entities whether they are holding the interest in their own name and on their own account or on behalf of another person. Member States shall ensure that the natural person(s) who hold the position of senior managing official(s) in corporate and other legal entities, disclose to those entities whether they are holding the position in their own name or on behalf of another person.
Amendment 259 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9 – point -a a (new)
Article 1 – paragraph 1 – point 9 – point -a a (new)
Directive 2015/849/EU
Article 30 – paragraph 1 – subparagraph 2 b (new)
Article 30 – paragraph 1 – subparagraph 2 b (new)
(-aa) in paragraph 1 the following subparagraph is added: Member States shall ensure that, when acting on behalf of another person, the nominee owner(s) or director(s) in corporate and other legal entities are required to maintain information identifying their nominator.
Amendment 260 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9 – point -a (new)
Article 1 – paragraph 1 – point 9 – point -a (new)
Directive 2015/849/EU
Article 30 – paragraph 3
Article 30 – paragraph 3
(-a) paragraph 3 is replaced by the following: 3. Member States shall ensure that the information referred to in paragraph 1 is held in a central register in each Member State, for example a commercial register, companies register as referred to in Article 3 of Directive 2009/101/EC of the European Parliament and of the Council (1), or a public register. Member States shall notify to the Commission the characteristics of those national mechanisms. The information on beneficial ownership contained in that database may be collected in accordance with national systems." (eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES)Member states shall ensure that the register administering entity will not take advantage of a possible preferential market position to charge fees with an exceptional high mark-up. The information on beneficial ownership contained in that database may be collected in accordance with national systems. In the case of a register administered by public administration, the member state shall continuously look for possibilities to lower the administrative costs so access to the register is not discouraged by high costs and related fees." Or. en
Amendment 261 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9 – point -a a (new)
Article 1 – paragraph 1 – point 9 – point -a a (new)
Directive 2015/849/EU
Article 30 – paragraph 4
Article 30 – paragraph 4
(-aa) paragraph 4 is replaced by the following: 4. Member States shall require that the information held in the central register referred to in paragraph 3 is adequate, accurate and current. Obliged entities, FIUs and competent authorities shall report any discrepancy they find between the beneficial ownership information held in the central registers and the beneficial ownership information collected as part of their customer due diligence procedures or investigations.
Amendment 272 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9 – point a a (new)
Article 1 – paragraph 1 – point 9 – point a a (new)
Directive 2015/849/EU
Article 30 – paragraph 5 a (new)
Article 30 – paragraph 5 a (new)
(aa) the following paragraph 5a is inserted: 5a. The information held in the register referred to in paragraph 3 of this Article on any corporate and legal entities other than those referred to in Article 1a(a) of Directive (EC) 2009/101 shall be publicly accessible. The information publicly accessible shall consist of at least the name, the date of birth, the nationality, the country of residence, contact details (without disclosure of a home address), the nature and extent of the beneficial interest held of the beneficial owner as defined in Article 3(6)(b). For the purposes of this paragraph, the information on beneficial ownership shall be available in in accordance with data protection rules and in open format, as defined in Directive 2003/98/EC Article 2(7) and subject to online registration. Member States may subject public access to information to online registration and introduce a fee to cover the administrative costs.
Amendment 276 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9 – point a b (new)
Article 1 – paragraph 1 – point 9 – point a b (new)
Directive 2015/849/EU
Article 30 – paragraph 5 a (new)
Article 30 – paragraph 5 a (new)
Amendment 277 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9 – point b
Article 1 – paragraph 1 – point 9 – point b
Directive 2015/849/EU
Article 30 – paragraph 6 – subparagraph 1
Article 30 – paragraph 6 – subparagraph 1
The central register referred to in paragraph 3 shall ensure timelydirect and unrestricted access by competent authorities and FIUs to all information held in the central register without any restriction or payment of a fee and without alerting the entity concerned. It shall also allow timely access byThe same provisions should apply to obliged entities when taking customer due diligence measures in accordance with Chapter II.
Amendment 284 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9 – point c
Article 1 – paragraph 1 – point 9 – point c
Directive 2015/849/EU
Article 30 – paragraph 9 – subparagraph 1
Article 30 – paragraph 9 – subparagraph 1
In exceptional circumstances to be laid down in national law, where the access referred to in point (b) of paragraph 5 and paragraph 5a would expose the beneficial owner to the risk of fraud, kidnapping, blackmail, violence or intimidation, or where the beneficial owner is a minor or otherwise incapable, Member States may provide for an exemption from such access to all or part of the information on the beneficial ownership on a case-by-case basis. Exemptions shall be reassessed at regular intervals to avoid abuse. When an exemption is granted, this has to be clearly indicated in the register and legal appeal against the exemption shall always be possible. Member States shall publish annual statistical data on the amount of exemptions granted and reasons stated and report the data to the Commission.
Amendment 290 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9 – point c a (new)
Article 1 – paragraph 1 – point 9 – point c a (new)
Directive 2015/849/EU
Article 30 – paragraph 10 a (new)
Article 30 – paragraph 10 a (new)
Amendment 294 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point a
Article 1 – paragraph 1 – point 10 – point a
Directive 2015/849/EU
Article 31 – paragraph 1– subparagraph 1
Article 31 – paragraph 1– subparagraph 1
Member States shall ensure that this Article applies to trusts and other types of legal arrangements having a structure or functions similar to trusts, such as, inter alia, fiducie, Treuhand, waaf or fideicomiso, and all other similar, in terms of structure or function, existing or future legal arrangements.
Amendment 300 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point a
Article 1 – paragraph 1 – point 10 – point a
Directive 2015/849/EU
Article 31 – paragraph 1 – subparagraph 2
Article 31 – paragraph 1 – subparagraph 2
Each Member State shall require that trustees of any express trust created, administered or operated in that Member State under the law of a Member State or third country obtain and hold adequate, accurate and up-to-date information on beneficial ownership regarding the trust. That information shall include the identity of: (a) the settlor (s); (b) the trustee (s); (c) the protector (s) (if any); (d) the beneficiaries or class of beneficiaries; (e) exercising effective control over the trust.da) any other person mentioned in the trust deed or related document (regardless of any distribution, right, power or interest); any other natural person
Amendment 304 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point a a (new)
Article 1 – paragraph 1 – point 10 – point a a (new)
Directive 2015/849/EU
Article 31 – paragraph 3
Article 31 – paragraph 3
(aa) paragraph 3 is replaced by the following: 3. Member States shall require that the information referred to in paragraph 1 can be directly accessed in a timely manner by competent authorities and FIUs. Obliged entities, FIUs and competent authorities shall report any discrepancy they find between the beneficial ownership information held in the central registers and the beneficial ownership information collected as part of their customer due diligence procedures or investigations.
Amendment 309 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point b
Article 1 – paragraph 1 – point 10 – point b
Directive 2015/849/EU
Article 31 – paragraph 3 a
Article 31 – paragraph 3 a
3a. The information referred to in paragraph 1 shall be held in a central register set up by the Member State where the trust is created, administered or operated;
Amendment 317 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point d
Article 1 – paragraph 1 – point 10 – point d
Directive 2015/849/EU
Article 31 – paragraph 4 a – subparagraph 1
Article 31 – paragraph 4 a – subparagraph 1
The information held in the register referred to in paragraph 3a of this Article with respect to any other trusts than those referred to in Article 7b (b) of Directive (EC) 2009/101 shall be accessible to any person or organisation that can demonstrate a legitimate interestor similar legal entities shall be public.
Amendment 324 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point d
Article 1 – paragraph 1 – point 10 – point d
Directive 2015/849/EU
Article 31 – paragraph 4 a – subparagraph 2
Article 31 – paragraph 4 a – subparagraph 2
The information publicly accessible to persons and organisations that can demonstrate a legitimate interest shall consist of the name, the month and yeardate of birth, the nationality and, the country of residence and the nature and extent of the interest held of the beneficial owner as defined in Article 3(6)(b).
Amendment 337 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point e
Article 1 – paragraph 1 – point 10 – point e
Directive 2015/849/EU
Article 31 – paragraph 7 a – subparagraph 1
Article 31 – paragraph 7 a – subparagraph 1
In exceptional circumstances laid down in national law, where the access referred to in paragraphs 4 and 4a would expose the beneficial owner to the risk of fraud, kidnapping, blackmail, violence or intimidation, or where the beneficial owner is a minor or otherwise incapable, Member States may provide for an exemption from such access to all or part of the information on the beneficial ownership on a case-by- case basis. Exemptions shall be reassessed at regular intervals to avoid abuse. When an exemption is granted, this has to be clearly indicated in the register and legal appeal against the exemption shall always be possible. Member States shall publish annual statistical data on the amount of exemptions granted and reasons stated and report the data to the Commission.
Amendment 345 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point h
Article 1 – paragraph 1 – point 10 – point h
Directive 2015/849/EU
Article 31 – paragraph 10
Article 31 – paragraph 10
10. For the purposes of this Article, a trust is considered to be administered in each Member State where the trustees are established;: (a) it is created according to or governed by the Member State's law or has its ultimate court of appeal in the Member State's jurisdiction; or (b) it is connected to the Member State by: (i) having one or more of the beneficial owners of the trust, as defined in Article 3(6)(b), resident in that Member State; (ii) holding real estate in that Member State; (iii) holding shares or voting rights or ownership interest in a legal entity incorporated in that Member State; or (iv) holding a bank or payment account in a credit institution situated in that Member State.
Amendment 350 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 11 – point -a a (new)
Article 1 – paragraph 1 – point 11 – point -a a (new)
Directive 2015/849/EU
Article 32 – paragraph 1
Article 32 – paragraph 1
(-aa) paragraph 1 is replaced by the following: 1. Each Members State shall establish an FIU in order to prevent, detect and effectively combat money laundering and terrorist financing. The FIU shall be a police authority or other law enforcement service or entity which, under national law, is responsible for preventing and combating criminal offences.
Amendment 369 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 12 a (new)
Article 1 – paragraph 1 – point 12 a (new)
Directive 2015/849/EU
Article 32 b (new)
Article 32 b (new)
Amendment 371 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 12 a (new)
Article 1 – paragraph 1 – point 12 a (new)
Directive 2015/849/EU
Article 33 – paragraph 1 – introductory part
Article 33 – paragraph 1 – introductory part
(13a) in Article 33, paragraph 1 is replaced by the following: "1. Member States shall require obliged entities, and, where applicable, their directors and employees, to cooperate fully by promptly: (eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:JOL_2015_141_R_0003&from=ES), employees and externally hired consultants and professionals to cooperate fully by promptly: Or. en
Amendment 374 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13 a (new)
Article 1 – paragraph 1 – point 13 a (new)
Directive 2015/849/EU
Article 34 – paragraph 3 a (new)
Article 34 – paragraph 3 a (new)
(13a) in Article 34, the following paragraph is added: 3a. Self-regulatory bodies designated by Member States under paragraph 1 shall publish an annual report containing information about: (a) measures taken under Articles 58, 59 and 61; (b) number of reports of breaches received; (c) number of reports filed to the FIU; (d) number and description of measures carried out to verify compliance by obliged entities with their obligations under: i. Articles 10 to 24 (customer due diligence); ii. Articles 33, 34 and 35 (suspicious transaction reporting); iii. Article 40 (record-keeping); and iv. Articles 45 and 46 (internal controls).
Amendment 378 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13 b (new)
Article 1 – paragraph 1 – point 13 b (new)
Directive 2015/849/EU
Article 38
Article 38
(13b) Article 38 is replaced by the following: Member States shall ensure that individuals, including employees and representatives of the obliged entity, who report suspicions of money laundering or terrorist financing internally or to the FIU, are legally protected from being exposed to threats or hostile action, and in particular from adverse or discriminatory employment actions.
Amendment 379 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13 c (new)
Article 1 – paragraph 1 – point 13 c (new)
Directive 2015/849/EU
Article 38 – paragraph 1 a (new)
Article 38 – paragraph 1 a (new)
(13c) in Article 38, the following paragraph is added: 1a. Member States shall ensure that individuals who are exposed to threats, hostile actions, or adverse or discriminatory employment actions for reporting suspicions of money laundering or terrorist financing internally or to the FIU are able to present a complaint in a safe manner to the respective competent authorities. Member States shall ensure that competent authorities have the legal duty to carry out an investigation and emit a decision. Judicial redress against the decision shall always be possible.
Amendment 384 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 15 a (new)
Article 1 – paragraph 1 – point 15 a (new)
Directive 2015/849/EU
Article 43
Article 43
(15 a) Article 43 is replaced by the following: The processing of personal data on the basis of this Directive for the purposes of the prevention of money laundering and terrorist financing as referred to in Article 1 shall be considered to be a matter of public interest under Directive 95/46/ECRegulation (EU) 2016/679.
Amendment 391 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 16 a (new)
Article 1 – paragraph 1 – point 16 a (new)
Directive 2015/849/EU
Article 48 – paragraph 2
Article 48 – paragraph 2
(16a) in Article 48, paragraph 2 is replaced by the following: 2. Member States shall ensure that the competent authorities have adequate powers, including the power to compel the production of any information that is relevant to monitoring compliance and perform checks, and have adequate financial, human and technical resources to perform their functions. Member States shall ensure that staff of those authorities maintain high professional standards, including standards of confidentiality and data protection, that they are of high integrity and are appropriately skilled. Member States shall ensure that staff of those authorities have sufficient rules and mechanisms in place to prevent and sanction situations of conflict of interest.
Amendment 392 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 16 b (new)
Article 1 – paragraph 1 – point 16 b (new)
Directive 2015/849/EU
Article 48 – paragraph 9
Article 48 – paragraph 9
(16b) in Article 48, paragraph 9 is replaced by the following: 9. In the case of the obliged entities referred to in point (3)(a), (b), (ca) and (d) of Article 2(1), Member States may allow the functions referred to in paragraph 1 of this Article to be performed by self- regulatory bodies, provided that those self- regulatory bodies comply with paragraph 2 of this Article.
Amendment 402 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 19 b (new)
Article 1 – paragraph 1 – point 19 b (new)
Directive 2015/849/EU
Article 53 – paragraph 3
Article 53 – paragraph 3
(ba) in Article 53, paragraph 3 is replaced by the following: 3. An FIU may refuse to exchange information only in exceptional circumstances where the exchange could be contrary to fundamental principles of its national law. Those exceptions shall be specified in a way which prevents misuse of, and undue limitations on, the free exchange of information for analytical purposes. When such exceptional circumstances are invoked, the requested FIU shall send a report to the Commission.
Amendment 404 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 19 – point b a (new)
Article 1 – paragraph 1 – point 19 – point b a (new)
Directive 2015/849/EU
Article 53 – paragraph 3 a (new)
Article 53 – paragraph 3 a (new)
Amendment 405 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 19 a (new)
Article 1 – paragraph 1 – point 19 a (new)
Directive 2015/849/EU
Article 54 – paragraph 1 a (new)
Article 54 – paragraph 1 a (new)
(19a) in Article 54, the following paragraph is added: 1a. Member States shall ensure that FIUs designate at least one official to be responsible for receiving requests for information or mutual legal assistance from homologous entities in other Member States and ensuring that those requests are treated in a timely manner.
Amendment 406 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 20 a (new)
Article 1 – paragraph 1 – point 20 a (new)
Directive 2015/849/EU
Article 55 – paragraph 2 a (new)
Article 55 – paragraph 2 a (new)
Amendment 414 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 21 a (new)
Article 1 – paragraph 1 – point 21 a (new)
Directive 2015/849/EU
Article 58 – paragraph 4 a (new)
Article 58 – paragraph 4 a (new)
(21a) In Article 58, the following paragraph is inserted: 4a. Member States shall ensure that competent authorities and self-regulatory bodies inform the Commission when national laws hamper their supervisory and investigatory powers that are necessary for the exercise of their functions.
Amendment 421 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 21 b (new)
Article 1 – paragraph 1 – point 21 b (new)
Directive 2015/849/EU
Article 61 – paragraph 1
Article 61 – paragraph 1
(21b) in Article 61, paragraph 1 is replaced by the following: 1. Member States shall ensure that competent authorities and self-regulatory bodies establish effective and reliable mechanisms to encourage the reporting to competent authorities and self-regulatory bodies of potential or actual breaches of the national provisions transposing this Directive.
Amendment 422 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 21 c (new)
Article 1 – paragraph 1 – point 21 c (new)
Directive 2015/849/EU
Article 61 – paragraph 3 a (new)
Article 61 – paragraph 3 a (new)
Amendment 438 #
2016/0208(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 1 a (new)
Article 2 – paragraph 1 – point 1 a (new)
Directive 2009/101/EC
Article 7 – paragraph 1 – point b a (new)
Article 7 – paragraph 1 – point b a (new)
(1a) in Article 7, the following point is added: (ba) failure to disclose beneficial ownership information as required by Article 7b.
Amendment 439 #
2016/0208(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 1 b (new)
Article 2 – paragraph 1 – point 1 b (new)
Directive 2009/101/EC
Article 7 – paragraph 1 a (new)
Article 7 – paragraph 1 a (new)
(1b) in Article 7, the following paragraph is added: Member States shall ensure that where obligations apply to legal persons, penalties can be applied to the members of the management body or to any other individuals who under national law are responsible for the breach.
Amendment 441 #
2016/0208(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
Directive 2009/101/EC
Article 7 b – paragraph 1 – subparagraph 2
Article 7 b – paragraph 1 – subparagraph 2
The information shall consist of at least the name, the month and yeardate of birth, the nationality and, the country of residence and contact details (without disclosure of a home address) of the beneficial owner as well as the nature and extent of the beneficial interest held.
Amendment 449 #
2016/0208(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
Directive 2009/101/EC
Article 7 b – paragraph 3
Article 7 b – paragraph 3
3. Member States shall ensure that the beneficial ownership information referred to in paragraph 1 of this Article shall also be made publicly available through the system of interconnection of registers referred to in Article 4a(2), in accordance with data protection rules and open data standards, and subject to online registration. Member States may introduce a fee to cover the administrative costs.
Amendment 453 #
2016/0208(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
Directive 2009/101/EC
Article 7 b – paragraph 4
Article 7 b – paragraph 4
4. In exceptional circumstances laid down in national law, where the access to the information set out in paragraph 1 would expose the beneficial owner to the risk of fraud, kidnapping, blackmail, violence or intimidation, or where the beneficial owner is a minor or otherwise incapable, Member States may provide for an exemption from the compulsory disclosure of to all or part of the information on the beneficial ownership on a case-by-case basis. Exemptions shall be reassessed at regular intervals to avoid abuse. When an exemption is granted, this has to be clearly indicated in the register and legal appeal against the exemption shall always be possible. Member States shall publish annual statistical data on the amount of exemptions granted and reasons stated and report the data to the Commission.
Amendment 455 #
2016/0208(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
Directive 2009/101/EC
Article 7 b – paragraph 4 a (new)
Article 7 b – paragraph 4 a (new)
4a. Any exemption must be duly justified in the register and reviewed on a regular basis in order to keep the information accurate.
Amendment 459 #
2016/0208(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
Directive 2009/101/EC
Article 7 b – paragraph 5 a (new)
Article 7 b – paragraph 5 a (new)
5a. Member States shall require the competent authorities and self-regulatory bodies to effectively monitor and to take the necessary measures with a view to ensuring compliance with the requirements of this Article. Member States shall ensure that the competent authorities have adequate powers, including the power to compel the production of any information that is relevant to monitoring compliance and perform checks, and have adequate financial, human and technical resources to perform their functions. Member States shall ensure that staff of those authorities and bodies maintain high professional standards, including standards of confidentiality and data protection, are of high integrity and appropriately skilled.
Amendment 12 #
2016/0010(CNS)
Proposal for a directive
Recital 2
Recital 2
(2) As Multi National Enterprise (MNE) Groups are active in different countries, they have the possibility of engaging in aggressive tax planning practices that are not available for domestic companies. When MNEs do so, purely domestic companies, normally small and medium- sized enterprises (SMEs) may be particularly affected as their tax burden is higher than that of MNE Groupsy pay an effective rate of tax that is much closer to statutory rates than MNEs, resulting in distortions to, and malfunctions of, the internal market. On the other hand, all Member States may suffer revenue losses and there is the risk of competition to attract MNE Groups by offering them further tax benefits. There is therefore a problem for the proper functioning of the Internal Market.
Amendment 26 #
2016/0010(CNS)
Proposal for a directive
Recital 4
Recital 4
(4) Increased transparency towards tax authorities could have the effect of giving MNE Groups an incentive to abandon certain practices and pay their fair share of tax in the country where profits are made. It would also increase the 'peer pressure' between Member States and would focus the attention of financial markets on the fiscal accountability of MNEs. Enhancing transparency for MNE Groups is therefore an essential part of tackling base erosion and profit shifting.
Amendment 31 #
2016/0010(CNS)
Proposal for a directive
Recital 4 b (new)
Recital 4 b (new)
(4b) When extending the automatic exchange of information at Union and global levels, due regard should be had to the European Parliament report on the proposal for a directive of the European Parliament and of the Council amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement and Directive 2013/34/EU as regards certain elements of the corporate governance statement.
Amendment 32 #
2016/0010(CNS)
Proposal for a directive
Recital 4 c (new)
Recital 4 c (new)
(4c) Due regard should also be had to the European Parliament resolution of 25 November 2015 on tax rulings and other measures similar in nature or effect.
Amendment 33 #
2016/0010(CNS)
Proposal for a directive
Recital 4 d (new)
Recital 4 d (new)
(4d) When extending the automatic exchange of information at Union and global levels, due regard should also be had to the European Parliament resolution of 16 December 2015 with recommendations to the Commission on bringing transparency, coordination and convergence to corporate tax policies in the Union.
Amendment 38 #
2016/0010(CNS)
Proposal for a directive
Recital 6
Recital 6
(6) In the country-by-country report, MNEs Groups should provide annually and for each tax jurisdiction in which they do business the amount of revenue, profit before income tax and income tax paid and accrued, but also public subsidies received, the value of assets and annual cost of maintaining them, and sales and purchases. MNE Groups should also report number of their employees, stated capital, retained earnings and tangible assets in each tax jurisdiction. Finally, MNE Groups should identify each entity within the group doing business in a particular tax jurisdiction and should provide an indication of the business activities each entity engages in.
Amendment 39 #
2016/0010(CNS)
Proposal for a directive
Recital 7
Recital 7
(7) In order to enhance the efficient use of public resources and reduce the administrative burden for MNE Groups, the reporting obligation should only apply to MNE Groups with annual consolidated group revenue exceeding a certain amountEUR 40 million, in line with the definition of a large undertaking in Directive 2013/34/EU of the European Parliament and of the Council on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, and consistent with the proposed country-by-country reporting in the revision of Directive 2007/36/EC. The Directive should ensure that the same information is collected and made available to tax administrations in a timely manner throughout the EU.
Amendment 47 #
2016/0010(CNS)
Proposal for a directive
Recital 9 a (new)
Recital 9 a (new)
(9a) Member States should ensure that they maintain or increase the level of human, technical and financial resources dedicated to the automatic exchange of information and data processing within tax administrations.
Amendment 54 #
2016/0010(CNS)
Proposal for a directive
Recital 12
Recital 12
(12) TIn the absence of a Union definition of permanent establishment, the mandatory automatic exchange of country- by-country reports between Member States should in each case include the communication of a defined set of basic information that would be accessible to thoseall Member States in which, on the basis of the information in the country- by-country report, one or more entities of the MNE Group are either resident for tax purposes, or are subject to tax with respect to the business carried out through a permanent establishment of an MNE Group.
Amendment 63 #
2016/0010(CNS)
Proposal for a directive
Recital 14 a (new)
Recital 14 a (new)
(14a) In the event that a Member State determines that another Member State persistently fails to automatically provide country-by-country reports, it should in the first instance consult that Member State and, if that does not lead to resolution of the problem, it should report that Member State to the Commission and an appropriate penalty should be imposed.
Amendment 68 #
2016/0010(CNS)
Proposal for a directive
Recital 15 a (new)
Recital 15 a (new)
(15a) This Directive is a crucial step in going beyond the OECD BEPS Action Plan, as recalled by the European Parliament in its recommendations to the Commission in order to promote transparency, coordination and convergence to corporate tax policies in the Union. In particular, it is to be considered as the first move towards the implementation of a public country-by- country reporting for MNE Groups, such as the European Parliament has referred to on several occasions, through its reports on Directive 2007/36/EC, the report of the TAXE special committee and the European Parliament’s resolution of 16 December 2015 with recommendations to the Commission on bringing transparency, coordination and convergence to corporate tax policies in the Union.
Amendment 71 #
2016/0010(CNS)
Proposal for a directive
Recital 18
Recital 18
(18) The scope of mandatory exchange of information should therefore be extended to include the automatic exchange of information of the country-by-country report. In order to enhance transparency for citizens, the Commission should publish the country-by-country reports, based on the information contained in the centralised register of country-by-country reports. In doing so, the Commission should comply with the provisions of this Directive on confidentiality.
Amendment 94 #
2016/0010(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/16/EU
Article 8aa – paragraph 2
Article 8aa – paragraph 2
2. The competent authority of a Member State where the Country-by-Country Report was received pursuant to paragraph 1 shall, by means of automatic exchange, communicate the report to any otherll Member State in which, on the basis of the information in the country-by-country report, one or more Constituent Entities of the MNE Group of the Reporting Entity are either resident for tax purposes, or are subject to tax with respect to the business carried out through a permanent establishment within the deadline laid down in paragraph 4s. The competent authority of the Member State must communicate the country-by-country report to the Commission, which is responsible for the centralised register of country-by-country reports, available to its competent services.
Amendment 96 #
2016/0010(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/16/EU
Article 8aa – paragraph 2 a new
Article 8aa – paragraph 2 a new
2a. The competent authority of a Member State to which the country-by-country report was sent pursuant to paragraph 1 shall, within 24 months after the end of the reporting fiscal year, communicate the report to any state belonging to the category of least developed countries (as defined by the United Nations), in which, on the basis of information contained in the statement by country, one or more constituent entities of multinational enterprises are resident for tax purposes, or are subject to tax with respect to the business carried out through a permanent establishment.
Amendment 98 #
2016/0010(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/16/EU
Article 8aa – paragraph 3 – point a
Article 8aa – paragraph 3 – point a
(a) aggregate information relating to the amount of revenue, profit (loss) before income tax, income tax paid, income tax accrued, stated capital, accumulated earnings, number of employees, and tangible assets other than cash or cash equivalents with regard to each jurisdiction in which the MNE Group operates, public subsidies received, the value of assets and annual cost of maintaining them, and sales and purchases;
Amendment 99 #
2016/0010(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2011/16/UE
Article 8aa – paragraph 3 – point b a (new)
Article 8aa – paragraph 3 – point b a (new)
(ba) the future European tax identification number (TIN) referred to in the Commission's 2012 Action Plan to strengthen the fight against fraud and tax evasion.
Amendment 103 #
2016/0010(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
4a. In order to enhance transparency for citizens, the Commission shall publish the country-by-country reports, based on the information contained in the centralised register of country-by-country reports. In doing so, the Commission shall comply with the provisions of Article 23a on confidentiality.
Amendment 104 #
2016/0010(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2 a (new)
Article 1 – paragraph 1 – point 2 a (new)
Directive 2011/16/UE
Article 17 – paragraph 4
Article 17 – paragraph 4
(2a) Article 17(4) is deleted;
Amendment 133 #
2016/0010(CNS)
Proposal for a directive
Annex – Annex III – Section I – paragraph 4
Annex – Annex III – Section I – paragraph 4
4. "Excluded MNE Group" means, with respect to any Fiscal Year of the Group, a Group having total consolidated group revenue of less than EUR 750 000 000 or an amount in local currency approximately equivalent to EUR 750 000 000 as of January 2015 during the Fiscal Year immediately preceding the Reporting Fiscal Year as reflected in its Consolidated Financial Statements for such preceding Fiscwhich does not qualify as a large undertaking as defined in Article 3(4) of Directive 2013/34/EU of the European Parliament and of the Council, meaning an undertaking which on its balance sheet dates exceeds at least two of the three following thresholds: (a) balance sheet total: EUR 20 000 000; (b) net turnover: EUR 40 000 000; (c) average number of employees during the financial Yyear: 250.
Amendment 138 #
2016/0010(CNS)
Proposal for a directive
Annex – Annex III – Section II – paragraph 1 – point b – point i
Annex – Annex III – Section II – paragraph 1 – point b – point i
Amendment 139 #
2016/0010(CNS)
Proposal for a directive
Annex – Annex III – Section II – paragraph 1 – subparagraph 2
Annex – Annex III – Section II – paragraph 1 – subparagraph 2
Where there are more than one Constituent Entities of the same MNE Group that are resident for tax purposes in the Union and one or more of the conditions set out in point (b) apply, the MNE Group mayhas to designate one of such Constituent Entities to file the country-by-country report conforming to the requirements of Article 8aa(1) with respect to any Reporting Fiscal Year within the deadline specified in Article 8aa(1) and to notify the Member State that the filing is intended to satisfy the filing requirement of all the Constituent Entities of such MNE Group that are resident for tax purposes in the Union. That Member State shall, pursuant to Article 8aa(2), communicate the country-by- country report received to any otherll Member State in which, on the basis of the information in the country-by-country Report, one or more Constituent Entities of the MNE Group of the Reporting Entity are either resident for tax purposes, or are subject to tax with respect to the business carried out through a permanent establishments.
Amendment 141 #
2016/0010(CNS)
Proposal for a directive
Annex – Annex III – Section II – paragraph 2
Annex – Annex III – Section II – paragraph 2
Amendment 23 #
2015/2285(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Underlines that the new European Fund for Strategic Investments (EFSI), as part of the Investment Plan for Europe, should be complementary to local and regional investment strategies and the European Structural and Investment (ESI Funds), and that Member States should closely involve the local and regional authorities in promoting project pipelines and investment platforms; welcomes the fact that the Commission intends shortly to issue guidelines for the complementarity of funds for the benefit of the Member States and other actors; calls for further steps to be taken to ensure complementarity and synergies between the ESI Funds, the EFSI and other EU-subsidised programmes and initiatives, together with national public investmentspublic and private financial instruvestments, in order to obtain maximum added value and synergy by exploiting the full potential of such investments;
Amendment 28 #
2015/2285(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Notes the closer links between the objectives of the European Semester process and the programming of the ESI Funds for 2014-2020, reflected in the Partnership Agreements, especially concerning improvements to the labour market, the reform of education systems, the functioning of public administration, improvements to the business and research and innovation environment, and social inclusion; considers that cohesion policy investments could play a very important role in supporting structural reforms and the fulfilment of the EU’s strategic goals by following up the relevant CSRs together with the effective implementation of the Partnership Agreements; Emphasises the multiannual and long-term nature of programmes and objectives under the ESI Funds, as opposed to the annual cycle of the European Semester; stresses that the two procedures should be precisely coordinated, in order to reconcile the European Union's priorities and regional needs; stresses the regional component of cohesion policy and the associated need for flexibility in order to be able to take account of particular territorial challenges; calls on the Commission to supply detailed data on the interaction between cohesion policy and the European economic governance framework, and on the contribution made by the ESI Funds to the implementation of the CSRs and structural reforms;
Amendment 33 #
2015/2285(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Urges the Member States and the Commission to ensure adequate administrative capacity in order to increaoptimise the quality of service to firms and citizenusers, and to ensure improved transparency, efficiency and accountability in public procurement, by utilising e-procurement and tackling corruption; calls, in this context, for the efficient use of ESI Funds to reform structures and processes, human resource management and service delivery;
Amendment 39 #
2015/2285(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Welcomes the fact that the Commission has underlined that ESI Funds can play a vital role in supporting reform implementation and injecting investment directly into the real economy, if targeted wisely and effectively implemented; acknowledges that there is an urgent need to focus on improving the investment environment and points out that both CSRs and ex ante conditionalities within cohesion policy 2014-2020 have a key role to play in this context, as they have important positive spillover effects on the broader investment environment; stresses in this connection that at the time of adoption of the programmes only 75% of all ex ante conditionalities were fulfilled; urges the Commission and the Member States to ensure that EU funding is used to its full potential and in the most effective and efficient way;
Amendment 43 #
2015/2285(INI)
Draft opinion
Paragraph 8
Paragraph 8
8. Notes the proposal by the Commission to set up the Structural Reform Support Programme (SRSP); urges the Commission to ensure that the programme, designed to deliver support upon a Member State’s request and through the management modes intended is implemented while i) avoidings additional administrative complexity and ii) is consistent with existing resources and arrangements for structural reform; calls on all the services concerned to work together upstream in order to coordinate activities and avoid overlaps when offering assistance for the efficient and effective use of Union funds.;
Amendment 45 #
2015/2285(INI)
Draft opinion
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Calls on the Commission – in order to increase democratic control over economic management – to involve the European Parliament in the whole process more fully by means of an interinstitutional agreement, as proposed in the Five Presidents' Report of 22 June 2015; considers that this agreement should therefore, inter alia, also provide for regular exchanges of views between the European Parliament, the Council and the Commission before publication of the Annual Growth Survey and before publication of the CSRs.
Amendment 97 #
2015/2221(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Emphasises the need to avoid double reporting requirements and more generally an unnecessary administrative burden on credit institutions, in particular smaller banks, and ensure that the proportionality principle is upheld;
Amendment 350 #
2015/2221(INI)
Motion for a resolution
Paragraph 40 a (new)
Paragraph 40 a (new)
40a. Welcomes the fact that the European Commission's legislative proposal provides for a risk-based approach to the calculation of contributions, so that low risk banks pay smaller contributions and higher risk banks pay greater contributions to a common deposit guarantee scheme; calls for the criteria for the calculation of these risk-based contributions to the European Reinsurance Fund not to be laid down in delegated legal acts but to be incorporated into the text of the Regulation itself;
Amendment 207 #
2015/2140(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19a. Emphasises the key importance of EU subsidy law in the fight against tax avoidance by multinational undertakings;
Amendment 220 #
2015/2140(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Welcomes the investigations initiated by the Commission in 2014 into unlawful State aid through unfair tax competition and calls on Member States in future to present the Commission with information about their taxation practice in good timemmediately and ultimately to comply with the obligation to declare special arrangements to the detriment of other Member States;
Amendment 232 #
2015/2140(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Stresses that State aid proceedings alone cannot put a permanent stop to the unfair tax competition in a number of Member States of the European Union; further tangible results are required, such as a common consolidated corporate tax base (CCCTB), a consolidated basis of calculation for capital gains, a review of the VAT Directive in order to prevent fraud, the obligation on large international companies to report their turnover and profits on a ‘country by country’ basis and appropriate penalties for breaches of these rules and calling on Member States to introduce greater transparency in their tax practices and mutual reporting requirements;
Amendment 271 #
2015/2140(INI)
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Calls on the Commission to lay down in the near future detailed guidelines on State aid in the tax sphere and transfer pricing; emphasises that guidelines of this kind in other policy areas have proved very effective in eliminating and preventing the introduction of certain practices in Member States which do not comply with EU rules on State aid; points out that such guidelines are effective only if they set out very precise provisions, including in the form of quantitative thresholds;
Amendment 38 #
2015/2132(BUD)
Draft opinion
Paragraph 6
Paragraph 6
6. Notes that the ESAs are currently financed from compulsory contributions by the national member authorities, money from the EU budget and charges payable by the institutions they supervise; finds it regrettable that this nationally oriented, mixed financing system is not used more extensively; renews its call to the Commission, therefore, to submit by 2017 at the latest a proposal for a financing concept that is either financed completely by charges paid by market operators or at the very least combines financing from a specific line in the general EU budget with charges payable by operators in market; sees this system as a means of securing both the European authorities’ independence from their national member authorities and the full integrity of the ESAs vis-à-vis financial market participants;
Amendment 5 #
2015/2127(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Takes note of the 2014 EIB Annualctivity Report and the increase by 6.92% to EUR 80.3 billion in the EIB Group’s lending; is very concerned at the increasingbout still very high unemployment, inequality and poverty levels, as well as weak investment in Europe and the continuous uncertainty in the financial markets, also in view of a worsening global economic outlook;
Amendment 18 #
2015/2127(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Regrets that overall EU investment in 2013 decreased by 13% compared with the pre- crisis period with investment in some countries decreasing 25% and even by as much as 60% in others, creating a dangerous investment imbalance in the EU; is of the opinion that this constitutes a major challenge for the EIB Group and will require extraordinary efforts from its side for the years to come, as part of an overall EU effort to implement a renewed long-term strategy for sustainable, convergent and inclusive growth;
Amendment 27 #
2015/2127(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Notes the urgent need for an increase in EIB lending activityGroup investment activity, including innovative financial instruments with greater additional risk-bearing capacity, and for the improvement of its activity in line with Protocol (No 28) on Economic, Social and Territorial Cohesion;
Amendment 43 #
2015/2127(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Calls on the EIB Group to re-examine its strategic planning programme, given the high degree of concentration of funding for the four biggest economies in the EU accounting for more than 45%, and the disproportionate rise in unemployment levels and investment gaps in some other countries which remains at alarming levels, and which could hamper economic convergence in the EU and further damage growth prospects and social cohesion in specific countries and regions in the EU;
Amendment 60 #
2015/2127(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Takes note ofWelcomes the establishment of the European Fund for Strategic Investment (EFSI) and emphasises the need for the EFSI to function in an effective, transparent and fair way, to honour fully the requirement of additionality, and to take into account that priority should be given to projects in strategic sectors, countries in adjustment programmewhere investment gaps have widened most during the economic crisis and regions which have difficulties in attracting funding because of their high risk environment; their geographical or historical disadvantage translates into a higher high risk profile in an economic environment marked by uncertainty; Regrets the selection procedure used to appoint the Managing Director and the Deputy Managing Director and stresses the need to finalise as soon as possible the inter-institutional agreement between the EIB and the Parliament on reporting and on the selection procedure for both positions;
Amendment 69 #
2015/2127(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Urges the EIB Group to develop an increased focus on economic and labour market resilience in the context of technological changes, environmental constraints, globalisation and demographic trends; calls on it to prioritise investment operations with high potential in terms of job creation and environmental sustainability, particularly in areas of greatest need, and to expand its cooperation with other development banks in this direction;
Amendment 70 #
2015/2127(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Calls on the EIB Group to consider strengthening non-financial criteria in its project assessment models, giving greater weight to projects' contribution to sustainable and inclusive development and cohesion in line with Protocol (No 28) on Economic, Social and Territorial Cohesion, while aiming at maximum transparency;
Amendment 87 #
2015/2127(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Calls on the EIB to refrain from cooperating with financial partners with a negative track record and to enforce prevention measures against tax havens, fraud and evasion as well as aggressive tax avoidance; calls for these prevention measures to include ensuring that no EIB funding can go to ultimate beneficiaries or financial intermediaries which make use of tax havens or harmful tax practices;
Amendment 88 #
2015/2127(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Calls on the EIB Group to refrain from cooperating with financial partners with a negative track record, particularly in the field of corporate taxation, and to enforce prevention measures against tax havens, tax fraud and tax evasion as well as aggressive tax avoidance; requests a list of outstanding EIB Group transactions involving counterparts established in jurisdictions featuring on the Commission's list of "top 30" tax havens around the world;
Amendment 91 #
2015/2127(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Calls on the EIB to adopt an effective and up-to-date Responsible Taxation Policy, to be overseen by a Tax Unit and detailed within an Annual Tax Report; calls for this policy to include regular country tax assessments in order to identify problematic jurisdictions; calls for this policy to involve the EIB actively using its relocation clause and systematically publishing the domicile of funds which benefit from EIB support, as well as the domicile of the ultimate beneficiaries of the funds if they are supported by financial intermediaries;
Amendment 112 #
2015/2127(INI)
Draft opinion
Paragraph 8
Paragraph 8
8. Calls on the EIB Group to further enhance transparency and access to information both internafor the Parliament and other EU institutions as welly ands for the public, especially regarding the selection, monitoring and evaluation of activities and programmes;
Amendment 127 #
2015/2127(INI)
Draft opinion
Paragraph 9
Paragraph 9
9. Requests the EIB to increase its reporting to Parliament regarding its decisions, progress achieved and the impact of its lending activities within and outside the EU; requests that this include regular reports to the European Parliament and other stakeholders on the implementation of its Non-Compliant Jurisdiction Policy, including the number of applications which have been turned down for failing to comply with this policy, as well as the number of relocations which have been requested and implemented.
Amendment 128 #
2015/2127(INI)
Draft opinion
Paragraph 9
Paragraph 9
9. Requests the EIB Group to increase its reporting to Parliament regarding its decisions, progress achieved and the impact of its lending activities within and outside the EU; calls on the EIB Group to engage in deeper dialogue with the Parliament on all its activities within the same scheme for reporting and accountability as set out in the EFSI regulation and to fully comply with the spirit and letter of the EFSI regulation, notably concerning inter-institutional cooperation with the Parliament.
Amendment 19 #
2015/2106(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas the situation in the banking and insurance sector and on the financial markets is marked by continuous change and innovation, which means that the regulations governing these sectors have to undergo permanent evaluation with a view to ensuring proportionality and effectiveness and an equally continuous adaptation of the regulations;
Amendment 200 #
2015/2106(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Notes the achievements in establishing a banking union; stresses that the next step has to be its full implementation, including full capitalisation of, and securing the effectiveness of, national Deposit Guarantee Schemes (DGS) and the Single Resolution Fund (SRF); emphasises the aim of avoiding moral hazard and ensuring that risk-takers bear the costs when their risks materialise;
Amendment 210 #
2015/2106(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15a. Stresses the elementary importance of cutting direct reciprocal links between state budgets and bank risks, which represent a major threat to financial stability; stresses that the rapid transposition of Directive 2014/59/EU into national law and the adquate funding and effectiveness of the Single Resolution Mechanism must be paramount; insists that the full implementation of these measures must be completed within the proper legislative framework;
Amendment 212 #
2015/2106(INI)
Motion for a resolution
Paragraph 15 b (new)
Paragraph 15 b (new)
15b. Notes that, owing to the lack of rules for dealing with states that lose access to the financial markets through severe indebtedness, action is often taken too late, which may adversely affect financial stability; calls therefore for regulations on the early recognition of risks to the sustainability of sovereign debt and the mandatory drawing up of plans for the preventive restructuring of sovereign debt;
Amendment 250 #
2015/2106(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18a. Underlines the necessity of adequate safeguards, especially for households, to ensure full awareness of the advantages and disadvantages of capital market investments; stresses the importance of expanding accessibility to financial education aiming at improving investors’ trust in capital markets, in particular retail investors; also underlines that financial education should be targeted towards SMEs, teaching them how to use capital markets;
Amendment 337 #
2015/2106(INI)
Motion for a resolution
Paragraph 29
Paragraph 29
29. Welcomes the objectives of the better regulation agenda; underlines the role of REFIT in achieving an efficient and effective financial services regulation that takes due account of the proportionality principle;
Amendment 373 #
2015/2106(INI)
Motion for a resolution
Paragraph 37
Paragraph 37
37. Reminds the ESAs that technical standards, guidelines and recommendations are bound by the principle of proportionality; calls on the ESAs to adopt a restrictive approach to the extent and number of guidelines, particularly where they are not explicitly empowered in the basic act; notes that such a restrictive approach is also required in view of the ESAs’ limited resources and the need to prioritise their tasks;
Amendment 374 #
2015/2106(INI)
Motion for a resolution
Paragraph 37 a (new)
Paragraph 37 a (new)
37a. Points out nevertheless that adequate financial and human resources must be permanently secured for the ESAs to enable them to carry out reliable, independent and effective supervision in performance of their mandate;
Amendment 14 #
2015/2060(INI)
Motion for a resolution
Recital B
Recital B
B. whereas global cooperation can lead to a dilution of responsibilities, at the expense of democracy; whereas the role of the national parliaments and the European Parliament canmust not be reduced to mere rubberstamping but must be incorporated, actively and comprehensively, into the whole decision-making process;
Amendment 106 #
2015/2060(INI)
Motion for a resolution
Paragraph 9 – indent 2 a (new)
Paragraph 9 – indent 2 a (new)
- Calls for the adoption of improved provisions on requirements governing transparency and accountability in international finance, monetary and regulatory institutions and facilities;
Amendment 121 #
2015/2060(INI)
Motion for a resolution
Paragraph 9 – indent 3 a (new)
Paragraph 9 – indent 3 a (new)
- Proposes in this context the introduction of transparency registers detailing who represents which interests under what name and what financial resources they have, particularly in private specialist and sectoral organisations;
Amendment 133 #
2015/2060(INI)
Motion for a resolution
Paragraph 9 – indent 5
Paragraph 9 – indent 5
Amendment 81 #
2015/2058(INI)
Draft opinion
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Emphasises that the scope for creative tax planning for undertakings can be curtailed, for example by imposing binding global standards, with the result that practices such as profit shifting and artificial profit reduction will no longer be worthwhile;
Amendment 86 #
2015/2058(INI)
Draft opinion
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Calls on the Member States to advocate mandatory, automatic exchanges of information between national tax authorities throughout the world;
Amendment 112 #
2015/0270(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) In June 2015, the Five Presidents Report on Completing Europe’s Economic and Monetary Union pointed out that a single banking system can only be truly single if confidence in the safety of bank deposits is the same irrespective of the Member State in which a bank operates. This requires single bank supervision, single bank resolution and single deposit insurance. The Five Presidents report therefore proposed to complete the Banking Union by establishing a European Deposit Insurance Scheme (EDIS), the third pillar of a fully-fledged Banking Union alongside bank supervision and resolution, which should be completed with a final fiscal safeguard at the European Stability Mechanism. Concrete steps in that direction should already be taken as a priority, with a re-insurance system at the European level for the national deposit guarantee schemes as a first step towards a fully mutualised approach. The scope of this reinsurance system should coincide with that of the SSM.
Amendment 158 #
2015/0270(COD)
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15a) It should be possible for the DIF and the participating DGSs to withdraw from a purely paybox system function and use the available financial resources for alternative measures to avoid compensation cases and the related costs, reimbursing depositors or potential risks to financial stability. These measures must be carried out within a clearly defined legal framework and the participating DGSs must be equipped with the appropriate structures and competences, so that they can plan and carry out such measures effectively and recognise potential risks. The implementation of such alternative measures should take place in accordance with Directive 2014/49/EU. The alternative measures taken to prevent a pay-out situation may not exceed the cost of fulfilling the legal or contractual mandate of the DGS and must be initiated by the DGS in consultation with the Board. Before a participating DGS may use financial resources for a compensation case, it is obligated, in consultation with the board, to carry out an ex-ante assessment of whether a pay- out situation can be prevented through the use of appropriate and cost-efficient alternative measures under Article 11 of Directive 2014/49/EU.
Amendment 176 #
2015/0270(COD)
Proposal for a regulation
Recital 18
Recital 18
(18) EDIS should be established in three sequentialwo stages, first a reinsurance scheme that covers an increasing share of the liquidity shortfall and of the excess losses of participating DGSs, followed by a co- and an insurance scheme that covers a gradually increasing share of the liquidity shortfall and losses of participating DGSs and eventually resulting in a full insurance scheme that covers all liquidity needs andexcess losses of participating deposit guarantee schemeDGSs.
Amendment 191 #
2015/0270(COD)
Proposal for a regulation
Recital 20
Recital 20
Amendment 202 #
2015/0270(COD)
Proposal for a regulation
Recital 21
Recital 21
Amendment 233 #
2015/0270(COD)
Proposal for a regulation
Recital 26
Recital 26
(26) Contributions would be directly levied on bankparticipating DGSs to finance the Deposit Insurance Fund. The Board would collect the contributions and administer the Deposit Insurance Fund, while national DGSs would continue to collect national contributions and administer national funds using their own methodology. In order to ensure fair and harmonised contributions for participating bankDGSs and provide incentives to operate under a model which presents less risk, both contributions to EDIS and to national DGS should be calculated on the basis of covered deposits and a risk-adjustment factor per bank. During the re-insurance period the risk-adjustment factor should consider the degree of risk incurred by a bank relative to all other banks affiliated to the same participating DGS. Once the stage of co-insurance is reached, the risk- adjustment factor should consider the degree of risk incurred by a bank relative to all other bankparticipating DGS. Furthermore, risk- based contributions for each participating DGS should be calculated in accordance with the provisions in Article 13(2) of Directive 2014/49/EU and the EBA “Guidelines on methods for calculating contributions to deposit guarantee schemes”. During both stages, the risk- adjustment factor should consider the degree of risk incurred by a participating DGS and its affiliated credit institutions relative to all other participating DGSs and their affiliated credit institutions established in the participating Member States. This would ensure that, overall, EDIS is cost-neutral for banks and national DGSs and avoid any redistribution of contributions during the build-up phase of the Deposit Insurance Fund.
Amendment 255 #
2015/0270(COD)
Proposal for a regulation
Recital 29
Recital 29
(29) The initial and final target level of the Deposit Insurance Fund should be established as a percentage of the total minimum target levels of participating DGSs. It should progressively reach 20% of four ninth of the total minimum target levels by the end of the reinsurance period and the sum of all minimum target levels by the end of the co-insurance periodThe target level of the Deposit Insurance Fund should reach 50 % of the total minimum target levels that participating DGSs are to reach in accordance with the first subparagraph of Article 10(2) of Directive 2014/49/EU. The possibility to apply for approval to authorise a lower target level in accordance with Article 10(6) of Directive 2014/49/EU should not be considered when setting the initial or final target levels of the Deposit Insurance Fund. An appropriate time frame should be set to reach the target level for the Deposit Insurance Fund.
Amendment 328 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point a
Article 1 – paragraph 1 – point 4 – point a
Regulation (EU) No 806/2014
Article 3 – paragraph 1 – point 57 a (new)
Article 3 – paragraph 1 – point 57 a (new)
57a. “Measures to preserve the access of depositors to covered deposits in the context of national insolvency proceedings” all measures to preserve access to covered deposits, including the transfer of assets and liabilities and deposit book transfer in the context of national insolvency proceedings under Article 11(6) of Directive 2014/49/EU.
Amendment 350 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 -a (new)
Article 41 -a (new)
Article 41 -a Prior to the start of a reinsurance phase, steps must be taken to ensure that all participating DGSs may use their available financial resources to fund alternative measures taken pursuant to Articles 11(3)(a)-(f) and 11(6) of Directive 2014/49/EU.
Amendment 360 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
(1) As from the date of application set out in Article 99(5a), pParticipating DGSs are reinsured by EDIS in accordance with this Chapter for a period of threat least five years (‘'reinsurance period’)'), from 1 January 2019 to the commencement of the insurance period referred to in Chapter 3.
Amendment 367 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41a – paragraph 2
Article 41a – paragraph 2
Amendment 371 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41a - paragraph 2 a (new)
Article 41a - paragraph 2 a (new)
(2a) In case a participating DGS encounters a payout event in the context of national insolvency proceedings, and provided that the conditions set out under points (a) - (c) of paragraph 2 have been met, the participating DGS shall, in conjunction with the Board, also verify that the following conditions have been met: (a) that measures can be taken to safeguard depositors’ access to covered deposits, including the transfer of assets and liabilities and deposit book transfer to another credit institution in the participating DGS pursuant to Article 11(6) of Directive 2014/49/EU; (b) that the cost of measures to safeguard depositors’ access to covered deposits, including the transfer of assets and liabilities and deposit book transfer to another credit institution in the participating DGS pursuant to Article 11(6) of Directive 2014/49/EU, are lower than the cost of a payout to meet the legal or contractual requirements applicable to the DGS in the context of the payout event in question. If the participating DGS, acting in conjunction with the Board, takes the view that the conditions set out in points (a) and (b) have been met, it shall be required to take measures to transfer assets and liabilities and deposit book transfer to another credit institution in the participating DGS pursuant to Article 11(6) of Directive 2014/49/EU, rather than making a payment to meet the legal or contractual requirements applicable to it in the context of the payout event in question. In such cases the participating DGS may claim funding from the DIF for its liquidity shortfall. The share of liquidity shortfall coverage a participating DGS may claim from the DIF is laid down in paragraph 2c.
Amendment 375 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41a - paragraph 2 b (new)
Article 41a - paragraph 2 b (new)
(2b) If the DGS is used to fund measures to safeguard access to covered deposits in the context of national insolvency proceedings, or in resolution pursuant to Rule 79, it may claim its liquidity shortfall from the DIF as provided for in Article 41b. The share of liquidity shortfall coverage a participating DGS may claim from the DIF is laid down in paragraph 2c.
Amendment 376 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41a - paragraph 2 c (new)
Article 41a - paragraph 2 c (new)
(2c) The share of coverage under paragraph 2 shall increase during the reinsurance period as follows: – in the first year of the reinsurance period it shall be 20%; – in the second year of the reinsurance period it shall be 40%; – in the third year of the reinsurance period it shall be 60%; – in the fourth year of the reinsurance period it shall be 80%; – in the fifth and subsequent years of the reinsurance period it shall be 100%.
Amendment 380 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41a - paragraph 3
Article 41a - paragraph 3
Amendment 389 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41b - paragraph 1
Article 41b - paragraph 1
(1) In case the participating DGS encounters a payout event, even though it has complied with paragraphs 2 and 2a of Article 41a, its liquidity shortfall shall be calculated as the total amount of covered deposits within the meaning of Article 6(1) of the Directive 2014/49/EU that is held by the credit institution at the time of the payout event less:
Amendment 392 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41b - paragraph 1 a (new)
Article 41b - paragraph 1 a (new)
(1a) If the participating DGS is used to fund measures to safeguard depositors’ access to covered deposits in the context of national insolvency proceedings, its liquidity shortfall shall be calculated as the costs incurred by the DGS, which, pursuant to Article 11(6) of Directive 2014/49/EU, may not exceed the cost of paying out the covered deposits for the institution concerned, less a) the amount of available financial means the participating DGS should have at the time of the payout event if it had raised ex-ante contributions in accordance with Article 41j; b) the amount of extraordinary contributions as defined in Article 10(8) of Directive 2014/49/EU the participating DGS can raise within three days from the payout event.
Amendment 393 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41b - paragraph 1 b (new)
Article 41b - paragraph 1 b (new)
(1b) If the participating DGS is used to fund alternative measures pursuant to Article 41ja, its liquidity shortfall shall be calculated as the costs incurred by the DGS, which, pursuant to Article 11(6) of Directive 2014/49/EU, may not exceed the cost of paying out the covered deposits for the institution concerned, less the amount of available financial means the participating DGS should have at the time of the payout event if it had raised ex-ante contributions in accordance with Article 41j;
Amendment 396 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41c
Article 41c
Amendment 403 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Part IIa – title I – chapter 2
Part IIa – title I – chapter 2
Amendment 428 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Part IIa – title I – chapter 3 – title
Part IIa – title I – chapter 3 – title
Full insurance Insurance
Amendment 440 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41h – Paragraph 2
Article 41h – Paragraph 2
(2) In case a participating DGS encounters a payout event or is used in resolution in accordance with, the Board shall first check whether the following conditions have been met: (a) that before requesting funding to cover a payout event the participating DGS has assessed the scope for employing alternative measures pursuant to Article 41ja(5); (b) that if the participating DGS has already taken alternative measures at an earlier juncture, but after the start of EDIS, it has complied with and implemented the decision taken in conjunction with the Board concerning the implementation of such measures pursuant to Article 41ja(1); (c) that the payout event could not have been prevented by taking alternative and cost-effective measures pursuant to Article 1091(3) of Directive 2014/549/EU or Article 79 of this Regulation, it may claim funding from the DIF for its liquidity need as defined by Article 41f of this Regulation. . If the Board finds that at least one of the conditions set out in points (a) to (c) has not been met, the participating DGS may use only those financial resources which it itself has set aside at national level pursuant to Article 41j(1) or in individual risk-weighted subfunds pursuant to Article 74b(1a) in order to cover the liquidity shortfall created by the payout event. The use of financial resources from the joint risk-based subfund shall not be permissible in such cases.
Amendment 443 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41h - paragraph 2 a (new)
Article 41h - paragraph 2 a (new)
(2a) In case a participating DGS encounters a payout event in the context of national insolvency proceedings, and provided that the conditions set out under points (a) - (c) of paragraph 2 have been met, the participating DGS shall, in conjunction with the Board, also verify that the following conditions have been met: (a) that measures can be taken to safeguard depositors’ access to covered deposits, including the transfer of assets and liabilities and deposit book transfer to another credit institution in the participating DGS pursuant to Article 11(6) of Directive 2014/49/EU; (b) that the cost of measures to safeguard depositors’ access to covered deposits, including the transfer of assets and liabilities and deposit book transfer to another credit institution in the participating DGS pursuant to Article 11(6) of Directive 2014/49/EU, are lower than the cost of a payout to meet the legal or contractual requirements applicable to the DGS in the context of the payout event in question. If the participating DGS, acting in conjunction with the Board, takes the view that the conditions set out in points (a) and (b) have been met, it shall be required to take measures to transfer assets and liabilities and deposit book transfer to another credit institution in the participating DGS pursuant to Article 11(6) of Directive 2014/49/EU, rather than making a payment to meet the legal or contractual requirements applicable to it in the context of the payout event in question. In that event, the participating DGS can claim from the DIF funding for its liquidity shortfall pursuant to Article 41b or funding for part of its excess loss pursuant to Article 41ha.
Amendment 444 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41h - paragraph 2 b (new)
Article 41h - paragraph 2 b (new)
(2b) In case a participating DGS encounters a payout event after complying with paragraphs 2 and 2a of this article, or if the DGS is used to fund measures to safeguard access to covered deposits in the context of national insolvency proceedings, or, pursuant to Article 79, is used in resolution, it may claim from the DIF funding for its liquidity shortfall as calculated pursuant to Article 41b of this Regulation. The share of liquidity shortfall coverage a participating DGS may claim from the DIF shall be 100%.
Amendment 445 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41h - paragraph 3
Article 41h - paragraph 3
(3) The DIF shall also cover the lossIn case a participating DGS encounters a payout event after complying with paragraphs 2 and 2a of the pis articipatingle, or if the DGS ais defined by Article 41g. The participating DGS shall repay the amount of funding it obtained under paragraph 2, less the amount of loss cover, in accordance with the procedure set out inused to fund measures to safeguard access to covered deposits in the context of national insolvency proceedings, or, pursuant to Article 79, is used in resolution, it may claim from the DIF funding for its liquidity shortfall as calculated pursuant to Article 41ha of this Regulation. The share of excess loss coverage a participating DGS may claim from the DIF is laid down in paragraph 3a of this Article 41o.
Amendment 448 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41h - paragraph 3 a (new)
Article 41h - paragraph 3 a (new)
(3a) The share of coverage under paragraph 3 shall increase during the insurance period as follows: – in the first year of the insurance period it shall be 20%; – in the second year of the insurance period it shall be 40%; – in the third year of the insurance period it shall be 60%; – in the fourth year of the insurance period it shall be 80%; - in the fifth and subsequent years of the insurance period it shall be 100%.
Amendment 451 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 h a (new)
Article 41 h a (new)
Article 41 ha Excess loss (1) In case the participating DGS encounters a payout event, its excess loss shall be calculated as the total amount it repaid to depositors in accordance with Article 8 of Directive 2014/49/EU less: a) the amount the participating DGS recovered from subrogating to the rights of depositors in winding up or reorganisation proceedings under the first sentence of Article 9(2) of Directive 2014/49/EU; b) the amount of available financial means the participating DGS should have at the time of the payout event if it had raised ex-ante contributions in accordance with Article 41j; (2c) the amount of extraordinary contributions as defined in Article 10(8) of Directive 2014/49/EU the participating DGS can raise within three days from the payout event. (2) If the participating DGS is used to fund measures to safeguard depositors’ access to covered deposits in the context of national insolvency proceedings, its excess loss shall be calculated as the costs incurred by the DGS, which, pursuant to Article 11(6) of Directive 2014/49/EU, may not exceed the cost of paying out the covered deposits for the institution concerned, less a) the amount the participating DGS recovered from subrogating to the rights of depositors in winding up or reorganisation proceedings under the first sentence of Article 9(2) of Directive 2014/49/EU; b) the amount of available financial means the participating DGS should have at the time of the payout event if it had raised ex-ante contributions in accordance with Article 41j; (2c) the amount of extraordinary contributions as defined in Article 10(8) of Directive 2014/49/EU the participating DGS can raise within three days from the payout event.
Amendment 479 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41j - paragraph 1
Article 41j - paragraph 1
(1) A participating DGS shall only be reinsured, co-insured or fully insured by EDIS during the year following any of the dates set out below, if, by that date, its available financial means raised by contributions referred to in Article 10(1) of Directive 2014/49/EU amount to at least the following percentages of the total amount of covered deposits of all credit institutions affiliated to the participating DGS: – by 3 July 2017: 0.1405%; – by 3 July 2018: 0.210%; – by 3 July 2019: 0.2815%; – by 3 July 2020: 0.280%; – by 3 July 2021: 0.26 5%; – by 3 July 2022: 0.230%; – by 3 July 2023: 0.1135%; – by 3 July 2024: 0.40%.
Amendment 506 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41j a (new)
Article 41j a (new)
Amendment 573 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 a – paragraph 1
Article 74 a – paragraph 1
(1) The DIF is hereby established. It shall be filled by risk-based contributions owed to the Board by credit institutions affiliated to participating DGSs. The risk-based contributions shall be calculated and invoiced, on behalf of the Board, by participating DGSs by the Board.
Amendment 575 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 a - paragraph 1 a (new)
Article 74 a - paragraph 1 a (new)
(1a) The risk-based contributions owed by credit institutions to participating DGSs shall be calculated and invoiced by the participating DGSs.
Amendment 584 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 a – paragraph 3 a (new)
Article 74 a – paragraph 3 a (new)
(3a) The DIF shall consist of: (a) individual risk-based subfunds, which are to be filled by each participating DGS; (b) a joint risk-based subfund, which is to be filled by all participating DGSs.
Amendment 586 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 a – paragraph 3 b (new)
Article 74 a – paragraph 3 b (new)
Amendment 594 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 b – paragraph 1
Article 74 b – paragraph 1
(1) By the end of the reinsurance period3 July 2024 the available financial means of the DIF shall reach an initial target level of 20% of four ninth of the sum of the50 % of the aggregated minimum target levels that participating DGSs shall reach in accordance with the first subparagraph of Article 10(2) of Directive 2014/49/EU.
Amendment 604 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 b - paragraph 1 a (new)
Article 74 b - paragraph 1 a (new)
(1a) The target level for each individual risk-based subfund shall be equal to 25% of the minimum target level that participating DGSs shall reach in accordance with the first subparagraph of Article 10(2) of Directive 2014/49/EU.
Amendment 606 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 b - paragraph 1 b (new)
Article 74 b - paragraph 1 b (new)
(1b) The target level for the joint risk- based subfund shall be equal to 25% of the aggregated minimum target level that participating DGSs shall reach in accordance with the first subparagraph of Article 10(2) of Directive 2014/49/EU.
Amendment 609 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 b - paragraph 1 c (new)
Article 74 b - paragraph 1 c (new)
(1c) The individual risk-based subfunds and the joint risk-based subfund shall each adhere to the following funding path as a percentage of covered deposits: – by 3 July 2017: 0.025%; – by 3 July 2018: 0.05%; – by 3 July 2019: 0.075%; – by 3 July 2020: 0.10%; – by 3 July 2021: 0.125%; – by 3 July 2022: 0.150%; – by 3 July 2023: 0.175%; – by 03 July 2024: 0.20%;
Amendment 611 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 b - paragraph 1 d (new)
Article 74 b - paragraph 1 d (new)
(1d) Institutional protection schemes as referred to in Article 1(2)(c) of Directive 2014/49/EU may have their contributions to the individual subfund under Article 1a set off against the minimum for available financial means set out in Article 11(5)(b) of Directive 2014/49/EU.
Amendment 612 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 b - paragraph 2
Article 74 b - paragraph 2
Amendment 620 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 b – paragraph 3
Article 74 b – paragraph 3
Amendment 626 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 b - paragraph 4
Article 74 b - paragraph 4
Amendment 674 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 2 – subparagraph 2
Article 74 c – paragraph 2 – subparagraph 2
It shall adopt onethat delegated act specifying the method for the calculation of risk- based contributions payable toby participating DGSs and, for the reinsurance period only, to the DIFto the joint risk-based subfund. In thisat delegated act the calculation of these contributions shall be based on the amount of covered deposits and the degree of risk incurred by each credit institutionparticipating DGS relative to all other credit institutions affiliated to the same participating DGSparticipating DGSs. The provisions of Article 13(2) of Directive and of Title II, paragraphs 72 and 73, of the EBA Guidelines on methods for calculating contributions to deposit guarantee schemes, shall apply accordingly.
Amendment 687 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 5 – subparagraph 4 – introductory part
Article 74 c – paragraph 5 – subparagraph 4 – introductory part
Amendment 706 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 5 – subparagraph 4 – point f a (new)
Article 74 c – paragraph 5 – subparagraph 4 – point f a (new)
(fa) any risk reducing effect of a credit institute’s membership of an institutional protection scheme within the meaning of Article 1(2)(c) of Directive 2014/49/EU;
Amendment 729 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 d a (new)
Article 74 d a (new)
Article 74da Attribution of repaid funding to subfunds (1) The Board shall attribute the received repayments of financial resources provided to a participating DGS for a particular insolvency, for the funding of measures to protect depositors’ access to covered deposits in the framework of a national insolvency procedure, or for a resolution case, to the different subfunds of the DIF. (2) Where necessary, repayments received shall first of all be used to repay all financial resources mobilised by the Board via a communitarised credit line from the European Stability Mechanism under Article 74a(3b)(c) to provide financial resources to a participating DGS for a particular insolvency, for measures to protect depositors’ access to covered deposits in the framework of a national insolvency procedure, or for a resolution case. (3) Once all the financial resources referred to in paragraph 2 are repaid, the allocation of the received repayments shall occur in the reverse order of the hierarchy established by Article 74a(3b)(a), (b) and (d). This allocation shall be based on the amount of funding provided from each subfund to a participating DGS for a particular insolvency or resolution case.
Amendment 752 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 g a (new)
Article 74 g a (new)
Amendment 139 #
2015/0225(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Regulation (EU) No 575/2013
Article 254 – paragraph 3 a (new)
Article 254 – paragraph 3 a (new)
(3a) To determine the risk weights of securitisation positions, institutes which use the SEC-ERBA approach should apply the ratings from every Country Rating Cap to European securitisations and to European counterparties involved in such securitisation structures.
Amendment 42 #
2015/0068(CNS)
Proposal for a directive
Recital 5
Recital 5
(5) The possibility that the provision of information may be refused where it would lead to the disclosure of a commercial, industrial or professional secret or of a commercial process, or of information whose disclosure would be contrary to public policy should not apply to provisions of mandatory automatic exchange of information on advance cross- border rulings and advance pricing arrangements in order not to reduce the effectiveness of these exchanges. The limited nature of the information that is required to be shared with all Member States should ensure sufficient protection of those commercial interests.
Amendment 47 #
2015/0068(CNS)
Proposal for a directive
Recital 6
Recital 6
(6) In order to reap the benefits of the mandatory automatic exchange of advance cross-border rulings and advance pricing arrangements, the information concerning them should be communicated promptly after they are issued and therefore regular intervals for the communication of the information should be establishedwithin a maximum of one month of their issuance.
Amendment 51 #
2015/0068(CNS)
Proposal for a directive
Recital 7
Recital 7
(7) The mandatory automatic exchange of advance cross-border rulings and advance pricing arrangements should in each case include communication of a defined set of basic information to all Member States. The Commission should adopt any measures necessary to standardise the communication of such information under the procedure laid down in Directive 2011/16/EC for establishing a standard form to be used for the exchange of information. That procedure should also be used in the adoption of any necessary measures and practical arrangements for the implementation of the information exchange.
Amendment 54 #
2015/0068(CNS)
Proposal for a directive
Recital 8
Recital 8
(8) Member States should exchange the basic information to be communicated also with the Commission. This would enable the Commission at any point in time to monitor and evaluate the effective application of the automatic exchange of information on advance cross-border rulings and advance pricing arrangements. Such communication will not discharge a Member State from its obligations to notify any state aid to the Commission.
Amendment 64 #
2015/0068(CNS)
Proposal for a directive
Recital 10
Recital 10
(10) A Member State should be able to rely on Article 5 of Directive 2011/16/EU as regards the exchange of information on request to obtain additional information, including the full text of advance cross- border rulings or advance pricing arrangements, from the Member State having issued such rulings or arrangements.
Amendment 65 #
2015/0068(CNS)
Proposal for a directive
Recital 11
Recital 11
(11) Member States should take all measures necessary to remove any obstacle that might hinder the effective and widest possible mandatory automatic exchange of information on advance cross-border rulings and advance pricing arrangements.
Amendment 75 #
2015/0068(CNS)
Proposal for a directive
Recital 15
Recital 15
(15) The existing provisions regarding confidentiality should be amended to reflect the extension of mandatory automatic exchange of information to advance cross-border rulings and advance pricing arrangements.
Amendment 85 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Directive 2011/16/EU
Article 3 – point 14 – introductory part
Article 3 – point 14 – introductory part
14. 'advance cross-border ruling' means any agreement, communication, or any other instrument or action with similar effects, including one issued in the context of a tax audit, which:
Amendment 87 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Directive 2011/16/EU
Article 3 – point 14 – point c
Article 3 – point 14 – point c
(c) relates to a cross-border transaction or to the question of whether or not activities carried on by a legal person in the other Member State create a permanent establishment, and;
Amendment 88 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Directive 2011/16/EU
Article 3 – point 14 – subparagraph 2
Article 3 – point 14 – subparagraph 2
The cross-border transaction may involve, but is not restricted to, the making of investments, the provision of goods, services, finance or the use of tangible or intangible assets and does not have to directly involve the person receiving the advance cross-border ruling;
Amendment 89 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Directive 2011/16/EU
Article 3 – point 15 – subparagraph 1
Article 3 – point 15 – subparagraph 1
'advance pricing arrangement' means any agreement, communication or any other instrument or action with similar effects, including one issued in the context of a tax audit, given by, or on behalf of, the government or the tax authority of one or more Member States, including any territorial or administrative subdivision thereof, to any person that determines in advance of cross-border transactions between associated enterprises, an appropriate set of criteria for the determination of the transfer pricing for those transactions or determines the attribution of profits to a permanent establishment.
Amendment 104 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 1
Article 8a – paragraph 1
1. The competent authority of a Member State issuing or amending an advance cross-border ruling or an advance pricing arrangement after the date of entry into force of this Directive shall, by automatic exchange, communicate information thereon to the competent authorities of all other Member States as well as to the European Commission.
Amendment 110 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 2
Article 8a – paragraph 2
2. The competent authority of a Member State shall also communicate information to the competent authorities of all other Member States as well as to the European Commission on advance cross-border rulings and advance pricing arrangements issued within a period beginning ten years before the entry into force but still valid on the date of entry into force of this Directive;
Amendment 121 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 4 – point a
Article 8a – paragraph 4 – point a
a) in respect of the information exchanged pursuant to paragraph 1: within one month following the end of the quarter during whicha maximum of one month of the issuance or amendment of the advance cross-border rulings or advance pricing arrangements have been issued or amended.
Amendment 124 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 4 – point b
Article 8a – paragraph 4 – point b
(b) in respect of the information exchanged pursuant to paragraph 2: before 31 December 2016within three months following the entry into force;
Amendment 127 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 5 – point b
Article 8a – paragraph 5 – point b
(b) the content of the advance cross-border ruling or advance pricing arrangement, including a description of the relevant business activities or transactions or series of transactions;
Amendment 129 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 5 – point d
Article 8a – paragraph 5 – point d
(d) the identification of the other Member States likely to be directly or indirectly concerned by the advance cross-border ruling or advance pricing arrangement;
Amendment 130 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 5 – point e
Article 8a – paragraph 5 – point e
(e) the identification of any person, other than a natural person, in the other Member States likely to be directly or indirectly affected by the advance cross-border ruling or advance pricing arrangement (indicating to which Member State the affected persons are linked).
Amendment 131 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 5 – point e a (new)
Article 8a – paragraph 5 – point e a (new)
(ea) as soon as it is available, the European Tax identification Number (TIN) as outlined in the Commission's Action Plan on the fight against tax fraud and tax evasion of 2012.
Amendment 135 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 5 a (new)
Article 8a – paragraph 5 a (new)
5a. Member States shall require each issuer to annually publicly disclose, specifying by Member State and by third country in which it has a subsidiary, the following information on a consolidated basis for the financial year : (a) name(s), nature of activities and geographical location, (b) turnover, (c) number of employees on a full-time equivalent basis, (d) profit or loss before tax, (e) tax on profit or loss, (f) public subsidies received.
Amendment 136 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 6
Article 8a – paragraph 6
6. To facilitate the exchange the Commission shall adopt any measures and practical arrangements necessary for the implementation of this Article, including measures to standardise the communication of the information set out in paragraph 5 of this Article, as part of the procedure for establishing the standard form provided in Article 20(5). In Member States where decentralised territorial or administrative bodies are endowed with fiscal-related competences, the Commission shall assist member states to ensure that they meet their responsibility to provide training and support to these bodies.
Amendment 138 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 8
Article 8a – paragraph 8
8. Member States – or their territorial or administrative bodies including local authorities if applicable – may, in accordance with Article 5, request additional information, including the full text of an advance cross- border ruling or an advance pricing arrangement, from the Member State which issued it.
Amendment 139 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2011/16/EU
Article 8a – paragraph 8 a (new)
Article 8a – paragraph 8 a (new)
8a. A minimum tax rate shall be established.
Amendment 157 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Directive 2011/16/EU
Article 20 – paragraph 5
Article 20 – paragraph 5
5. The automatic exchange of information on advance cross-border rulings and advance pricing arrangements pursuant to Article 8a shall be carried out using a standard form once that form has been adopted by the Commission in accordance with the procedure referred to in Article 26(2).
Amendment 158 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Directive 2011/16/EU
Article 21 – paragraph 5
Article 21 – paragraph 5
(5) TBy 31 December 2016, the Commission shall develop a secure central directory where information to be communicated in the framework of Article 8a of this Directive may be recorded in order to satisfy the automatic exchange provided for in paragraphs 1 and 2 of Article 8a. The Member States are obliged to make the exchanged information stored in this directory available. The Commission shall have access to the information recorded in this directory. The necessary practical arrangements shall be adopted by the Commission in accordance with the procedure referred to in Article 26(2). All persons or organisations able to demonstrate a legitimate interest may have access to the information recorded.
Amendment 173 #
2015/0068(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 8 a (new)
Article 1 – paragraph 1 – point 8 a (new)
The following Article is inserted: “Article 23b The Commission must examine all sanctions to be established in instances of refusal or omission of information exchange.”
Amendment 157 #
2015/0009(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) The investment environment within the Union should be improved by removing barriers to investment, reinforcing the Single Market and by enhancing regulatory predictability. The work of the EFSI, and investments across Europe generally, should benefit from this accompanying work. In order to achieve the objective of economic, social and territorial convergence, the EFSI should pursue a strategy which complements the priorities of the Europe 2020 Strategy.
Amendment 270 #
2015/0009(COD)
Proposal for a regulation
Recital 14 a (new)
Recital 14 a (new)
(14a) The EFSI must ensure that, when projects are selected and carried out, macro-economic imbalances in the European Union are not increased.
Amendment 919 #
2015/0009(COD)
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – introductory part
Article 5 – paragraph 2 – subparagraph 1 – introductory part
The EU guarantee shall be granted for EIB financing and investment operations approved by the Investment Committee referred to in Article 3(5) or funding to the EIF in order to conduct EIB financing and investment operations in accordance with Article 7(2). The operations concerned shall be consistent with Union policies and, shall not contribute to increasing macro- economic imbalances in the Union, and shall support any of the following general objectives:
Amendment 1248 #
2015/0009(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point d a (new)
Article 10 – paragraph 2 – point d a (new)
(da) an assessment of projects in the light of their impact on the objective of macro- economic balance in the European Union;
Amendment 34 #
2014/2228(INI)
Draft opinion
Paragraph 1 – subparagraph c
Paragraph 1 – subparagraph c
c. take immediate action to include restrictionclear rules on state aid in the agreement; propose greater transparency within state aid rules and within the allocation of state aid;
Amendment 56 #
2014/2228(INI)
Draft opinion
Paragraph 1 – subparagraph e
Paragraph 1 – subparagraph e
e. take immediate action to ensure that aggressive tax planning, and distortion of competition by e.g. moving of headquarters across the Atlantic to obtain competition- distorting conditions, are addressed, are effectively prevented in future;
Amendment 62 #
2014/2228(INI)
Draft opinion
Paragraph 1 – subparagraph f
Paragraph 1 – subparagraph f
f. take immediate action to ensure that systematicagreements are reached within TTIP that put an end to the movement of capital across the Atlantic, in order to avoid tax payments in the country of production and/or sale of goods or services, is addressed within the TTIP;
Amendment 96 #
2014/2228(INI)
Draft opinion
Paragraph 1 – subparagraph i
Paragraph 1 – subparagraph i
i. propose the introduction of a national court systems-first principle, to be supplemented with mediation and intergovernmental dispute mechanisms in legal disputes in order to ensure easier access and lower litigtake immediate action to ensure that no private courts of arbitration are established in TTIP, and that any disputes can be brought before either the national cosurts than those offered by current ISDS- mechanisms, benefitting especially SMEs (having fewer resources available than large corporations), thus creating moror an international mechanism governed by public law that is to be created, whose rulings will be made by people equal competition conditions; stress that any and all dispute mechanisms set in placeified to hold the office of judge in accordance with laws adopted by democratically elected parliaments, within the TTIP-framework must uphold full transparency and be subject to democratic principles and scrutinypossibility of appeal;
Amendment 109 #
2014/2228(INI)
Draft opinion
Paragraph 1 – subparagraph i a (new)
Paragraph 1 – subparagraph i a (new)
ia. take immediate action to ensure that a ‘positive list approach’ is chosen, so that all public services covered by TTIP are explicitly listed positively in the agreement and the agreement does not include any standstill and ratchet clauses;
Amendment 245 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point a – point i
Paragraph 1 – point a – point i
(i) to ensure that TTIP negotiations lead to a deep, comprehensive, ambitious, balanced and high-standard trade and investment agreement that would promote sustainable growth, support the creation of high-quality jobs for European workers, directly benefit European consumers, inter alia by means of greater involvement of the European consumer protection organisations in the negotiations, increase international competitiveness, and open up new opportunities for EU companies, in particular SMEs; the content of the agreement is more important than the speed of the negotiations;
Amendment 362 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point b – point iv
Paragraph 1 – point b – point iv
(iv) to increase market access for services according to the ‘positive list approach’ whereby services that are to be opened up to foreign companies are explicitly mentioned and new services are excluded while ensuring that possibleno standstill and ratchet clauses only apply to non- discrimination provisionsare included in the agreement and allow for enough flexibility to bring services back into public control;
Amendment 398 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point b – point vi
Paragraph 1 – point b – point vi
(vi) to ensure extensive protection and an adequate carve-out ofor sensitive services such as public services and public utilities (including water, health, social security systems and education) allowing national and local authorities enough room for manoeuvre to legislate in the public interest; a joint declaration reflecting negotiators’ clear commitment to exclude these sectors from the negotiations would be very helpful in this regard;
Amendment 780 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point d – point xiv a (new)
Paragraph 1 – point d – point xiv a (new)
(xiva) to ensure that efforts are made to create an international mechanism for disputes, which is binding under public law, and the decisions of which are taken by persons qualified for judicial office and in accordance with laws passed by democratically elected parliaments
Amendment 9 #
2014/2213(INI)
Motion for a resolution
Recital B
Recital B
B. whereas ‘functional urban areas’ in the EU are not limited only to big cities but also include a unique polycentric structure built around large, medium-sized and small towns and cities and, peri-urban areas and surrounding areas, thus going beyond the traditional administrative borders to encompass various territories linked by their economic, social, environmental and demographic challenges;
Amendment 15 #
2014/2213(INI)
Motion for a resolution
Recital C
Recital C
C. whereas cities, towns and the larger functional urban areas, such as metropolitan areas, are the economic pillars and drivers of jobs for the EU given that innovation and new economic activities have their origins in the city, and they are therefore a major asset for the EU in its relations with other parts of the world;
Amendment 84 #
2014/2213(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Believes that a European Urban Agenda should be fully in line with the EU’s overall objectives and strategy, particularly Europe 2020; stresses that administrative borders are becoming less and less pertinent when trying to address development challenges at local level; believes, therefore, that the European Urban Agenda should be inclusive and take intoclear account of the diversity of territorial entities in the EU, especially the rural- urban linkages;
Amendment 130 #
2014/2213(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Believes that the European Urban Agenda should be based on a new multi- level governance method, involving the local level more closely at all stages of the policy cycle, thus bringing the policies closer to the realities and making them more consistent with and responsive to the constant transformations in functional urban areas; takes the view, in that connection, that the Committee of the Regions, as the body representing regional and local authorities, should play a central role in that process;
Amendment 145 #
2014/2213(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Believes that in order to formulate better informed and tailored policies there is a need to develop uniform basic data; encourages Eurostat and the Commission to provide and compile more detailed data, collected where policies are implemented – in many cases at local level; underlines that the collection of flow data – measuring the relationships between cities and their surrounding areas and within functional urban areas – is also becoming increasingly important in order to improve the understanding of these complex functional areas, and therefore urges the Commission to gather and analyse that data, turning it into evidence for policy developments;
Amendment 175 #
2014/2213(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Urges Member States to fully associate cities and functional urban areas with and involve them in a binding manner in strategic policy development and programming (such as national reform programmes, partnership agreements and operational programmes); calls on the Member States to strengthen their exchange of experience on national programmes for urban development, which empowers cities to deliver the Europe 2020 objectives, by setting regular informal Council meetings of ministers in charge of urban development;
Amendment 20 #
2014/2144(INI)
Motion for a resolution
Recital D
Recital D
D. whereas many businesses, in particular multinationals, commonly structure their global tax position in a way that allows profit shifting towards lower tax jurisdictions or seek to secure preferential treatment to reduce their tax payments; whereas these and other dubious practices, such as tax avoidance and aggressive tax planning, must be made illegal in the future and those who employ them must be punished appropriately;
Amendment 51 #
2014/2144(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Underlines the fact that the fight against tax fraud, tax evasion, tax avoidance, aggressive tax planning and tax havens, and an improved framework for the correct functioning of the Single Market via effective tax policy legislation, can be achieved better with a common approach; emphasises that a common approach of this kind must be taken at global, and not just at European, level;
Amendment 65 #
2014/2144(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Highlights that increased tax policy harmonisation would ensure that Member States’ tax policies support wider EU policy objectives as set out in the Europe 2020 strategy for smart, sustainable and inclusive growth; emphasises, in particular at a time when state indebtedness is high and there is a glaring need for investment in the European Union, that effective taxation provides MSs with a basic level of revenue;
Amendment 116 #
2014/2144(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls on MSs to agree to a compulsory CCCTB as a comprehensive and long-term solution to tackle company tax obstacles in the Single Market; calls, further, for the introduction of a minimum rate of corporation tax as a means of curbing damaging tax competition;
Amendment 124 #
2014/2144(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Calls on the Council, in the context of the fourth anti-money laundering directive, to support the drawing-up of a public register of commercial property;
Amendment 135 #
2014/2144(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Calls on the Commission to develop further initiatives to promote good governance in tax matters in third countries, to tackle aggressive tax planning and to address double taxation gaps; calls on the Council to make improvements to the Parent-Subsidiary Directive (COM(2013)0814), in particular by introducing a minimum tax rate;
Amendment 154 #
2014/2144(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Welcomes country-by-country (CbC) reporting; calls on the Commission to introduce as a next step mandatory CbC reporting for cross-border companies in all sectors and in all the countries in which they operate;
Amendment 191 #
2014/2144(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls on the Commission to propose, and on MSs to agree on, a common EU position and a set ofbroadened set of specific, detailed criteria for the definition of tax havens; recalls the call for appropriate measures, including a public European blacklist of tax havens, by 31 December 2014;
Amendment 22 #
2014/2059(INI)
Motion for a resolution
Recital D
Recital D
D. whereas increasing overall unemployment, and youth unemployment in particular, remains a major threat to economic and social stability and convergence in the EU;
Amendment 27 #
2014/2059(INI)
Motion for a resolution
Recital E
Recital E
E. whereas, in the context of persistently high debt and unemployment levels, low nominal GDP growth, and the challenges of an ageing society and of supporting job creation, particularly for young people, fiscal consolidation must continue in a growth-friendly and differentiated mannermore differentiated and more intelligent manner, in combination with explicit growth impulses;
Amendment 36 #
2014/2059(INI)
Motion for a resolution
Recital G
Recital G
G. whereas the Europe 2020 strategy is one of the elements of the EU’s response to the global economic crisis and future challenges;
Amendment 39 #
2014/2059(INI)
Motion for a resolution
Recital H
Recital H
H. whereas the global financial crisis and the sovereignbanking and debt crisis in the EU have significantly hampered access by small and medium-sized enterprises (SMEs) to financial resources;
Amendment 57 #
2014/2059(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes the fact that economic recovery in the EU is under way; reiterates, however, that this recovery is fragile and uneven, and must be sustain, in nearly all Member States, the economy has still not recovered from the consequences of the financial and economic crisis; notes that the EU economy is in danger of seeing a trend towards a prolonged period of stagnation; stresses that the economy must urgently be stimulated in order to deliver more growth, prosperity and jobs in the medium term;
Amendment 70 #
2014/2059(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. WelcomNotes the ambitious structural reforms implemented by Member Statessome Member States have implemented and are implementing under the macroeconomic adjustment programmes; finds it regrettable that the Member States in the rest of the euro area are less ambitious in modernising their economies, which is one of the reasonse reforms have mostly not proved successful in terms of their impact on overall economic growth; criticises the Heads of State and Government for not yet recognising that they are largely responsible for this lack of success and for still refusing to budge from the failed ‘austerity only’ policy; also criticises the Heads of State and Government for their persistent failure to change course, resulting in the crisis being prolonged, which in turn – combined in some cases with missed opportunities for reform – is now threatening Europe's fcor the lowe countries and holding back growth prospects in the medium and long term;
Amendment 81 #
2014/2059(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Points out that the euro area and the EU, owing to the current dogmatic insistence on budget cuts and structural reforms and the constant denial of the need for growth stimuli, risk falling further behind other regions in terms of economic development and opportunities, making the EU less attractive for investment from within and outside the EU;
Amendment 91 #
2014/2059(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Stresses, therefore, the importance of continuing the process of deep and sustainable structural reforms to deliver on growth and jobhanging course, since the policy pursued in recent years has clearly not had the desired success; further stresses that the process of structural reforms needs to be reorganised and realigned, but is still not sufficient on its own to deliver on growth and jobs and must therefore be accompanied by growth impulses and investments; reiterates, in this connection, the fact that the EU cannot compete on costs alone, but needs to invest more in research and development, education and skills, and resource efficiency, both at national and European level; calls on the Commission and the Member States to exploit more fully the potential of promotional banks to stimulate the economy in the European Union;
Amendment 99 #
2014/2059(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Underlines, once again, the fact that, in the overallmedium to long term, the indebtedness of Member States in the euro area is not only an obstacle to growth but alsoand puts a huge burden on future generations; stresses once again in this connection, however, that fiscal consolidation should begin not just on the expenditure side but also on the revenue side;
Amendment 105 #
2014/2059(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Reiterates, therefore, the fact that Member States should paytake particular attentioncare, when devising economic policies and reforms as regards the impact on future generations, not to deprive young people of their opportunities from the starisregard their needs for good living conditions and job opportunities; our societies’ future must not be frittered away by non-decisions and political errors in the present;
Amendment 130 #
2014/2059(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls on the Commission to strengthen the European Semester process by, inter alia, making sure that sufficient time and resources are allocated to the design and follow-up to the recommendations, thereby making the recommendations as relevant as possible for EU- and national-level economic policy-making; stresses the importance of involving the European Parliament at an early stage and to the greatest extent possible, so as to prevent – given Parliament’s growing significance and binding role – the emergence of a legitimacy gap in the political opinion- forming process;
Amendment 155 #
2014/2059(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Recalls, however, that Member States’ track record of implementing the CSRs is very low; believes that there is an inconsistency between European commitment and national implementation of the CSRs by Member States; stresses the importance of ‘national ownership’ by the relevant governments of EU-level commitments; further stresses that in areas where Member State governments do assume national ownership, the consistent involvement of the European Parliament is indispensable;
Amendment 174 #
2014/2059(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Underlines the fact that a number of CSRs are based on EU legal acts and that failure to act upon them may result in legal procedures; reminds Member States to deliver on their legal obligations under EU law; calls in this connection for the targets to be made more binding and urges that there should be the option of accompanying these targets with positive and negative sanctions;
Amendment 202 #
2014/2059(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Believes that with regard to the forthcoming European Semester, the a policy of growth-friendly fiscal consolidation should be pursued to improve fiscal sustainability; stresses, however, the fact that special emphasis should be placepromoting growth and investment should be pursued; emphasises that this is a prerequisite for medium- and lon growth-enhancing reforms and policiesg-term fiscal consolidation;
Amendment 250 #
2014/2059(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Stresses, once again, its call on Member States to simplify their tax systems and reiterates its call to shift taxes from labour to consumption toapital and consumption, in such a way as to offer appropriate incentives and make the use of resources more efficient and sustainable; calls on the Commission to take urgent action and develop a comprehensive strategy based on concrete legislative measures to fight tax fraud and tax evasion; calls on the Member States not to engage in damaging tax competition, to create a common assessment base for corporation tax and to introduce minimum corporation tax rates in the EU;
Amendment 262 #
2014/2059(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Reiterates the fact that structural reforms must be complemented by measures to boost growth and by longer- term investment in education, research, innovation and sustainable energy; stresses, however, the fact that private investment is more conducive to growth than public investmentdeplores the current tendency to deny the leading role which public investment can play in that connection; notes that this is taking place against the background of general acceptance of the doctrine of fiscal consolidation; emphasises that private investment can also take its cue from public models and thinking and that an increase in private investment will not in itself be enough to lift us out of the crisis;
Amendment 272 #
2014/2059(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Points out that government-induced growth risks being unsustainable over the medium term; stresses the fact that the already high levels of public debt do not allow for a significant increase in spending, if the reform and consolidation efforts are not to be in vainhigh levels of state indebtedness make it essential that intelligent ways should be found of funding public investments; emphasises that the need for fiscal consolidation makes it all the more important to foster investment in the future by setting the right priorities and developing appropriate new sources of revenue;
Amendment 282 #
2014/2059(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Believes that the biggest limitation on the EU economy is the low level of private investmentack of a European vision concerning those projects which are vital to our future; remains convinced that the low level of private investment - a level which certainly needs to be increased - can partly be explained by the lack of a template setting out the tasks the EU is to perform in the future and how those tasks should be divided up;
Amendment 293 #
2014/2059(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Underlines the fact that private investment is also crucial, as it works on the supply and demand side of the economy creating jobs, generating incomes for households, increasing tax revenue, helping governments consolidate and boosting growth;
Amendment 308 #
2014/2059(INI)
Motion for a resolution
Paragraph 31
Paragraph 31
31. Underlines the fact that a lack ofproblems in access toing finance, particularly for SMEs, poses a huge obstacle to growth in the EU; acknowledges, however, that the causes are many and varied and cannot be traced back solely to supply-side problems;
Amendment 320 #
2014/2059(INI)
Motion for a resolution
Paragraph 32
Paragraph 32
32. Calls on the Commission urgently to propose measures to complete the internal market for capital to improve the allocation of capital to businesses in order to revitalise the real economy; believes that further alternatives to bank financing are needed, for both large and small and medium-sized undertakings, particularly by improving the conditions for financing through the capital markets; points out, however, that this must not go hand in hand with a watering-down of the safeguards introduced in response to the financial crisis;
Amendment 330 #
2014/2059(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
33. Stresses the importance of the expedition and coimplementation of the banking union; believes that completion of the banking union must be achieved by means of an insurance and markets unioncan help to restore confidence and stability;
Amendment 344 #
2014/2059(INI)
Motion for a resolution
Paragraph 35
Paragraph 35
35. Stresses the fact that the European Semester must in no way jeopardise the prerogatives of the European Parliament or those of the national parliaments; underlines the fact that there should be a clear division between EU and national competences, and that Parliament is the seat of accountability at Union level; emphasises that in future, in keeping with the principles underpinning the codecision procedure, the European Parliament should be involved more closely in the work of preparing and organising the European Semester; stresses that every transfer of powers from national to EU level must be matched by a strengthening of the role of the European Parliament, in order to ensure that no democratic deficit is created;
Amendment 270 #
2014/0091(COD)
Proposal for a directive
Recital 2
Recital 2
(2) The internal market should allow institutions to operate in other Member States and, in the process, ensure a high level of protection and security for members and beneficiaries of occupational retirement schemes.
Amendment 313 #
2014/0091(COD)
Proposal for a directive
Recital 9
Recital 9
(9) In accordance with the principle of subsidiarity, Member States should retain full responsibility for the organisation of their pension systems as well as for the decision on the role of each of the three "pillars" of the retirement system in individual Member States. In the context of the second pillar, they should also retain full responsibility for the role and functions of the various institutions providing occupational retirement benefits, such as industry-wide pension funds, company pension funds and life-assurance companies. This Directive is not intended to call this prerogative into question. There should nonetheless be common rules so as to restrict regulatory arbitrage by institutions for occupational retirement provision.
Amendment 315 #
2014/0091(COD)
Proposal for a directive
Recital 9 a (new)
Recital 9 a (new)
(9a) Rather, this Directive should also seek to encourage Member States to build up stable and well functioning national pension systems. In addition, it should support the expansion of occupational retirement provision in Member States through close cooperation and the sharing of best practices of, in particular, those Member States which already have well developed second-pillar pension systems.
Amendment 335 #
2014/0091(COD)
Proposal for a directive
Recital 20
Recital 20
(20) Institutions for occupational retirement provision are not financial service providers which; rather, they are pension scheme providers that primarily perform a social service, help further the public interest and, in the process, bear a heavy responsibility for the provision of occupational retirement benefits and. They therefore should meet certain minimum prudential standards with respect to their activities and conditions of operation. The special triangular relationship between employees, employers and institutions for occupational retirement provision should also be taken into account and acknowledged as a guiding theme in this Directive.
Amendment 353 #
2014/0091(COD)
Proposal for a directive
Recital 24
Recital 24
(24) Institutions should be able to transfer pension schemes to other institutions across borders within the Union in order to facilitate the organisation of occupational retirement provision on a Union scale, subject only to authorisation from the competent authority in the home Member State of the institution transferring the pension scheme, and after prior consent has been given by the competent authority in the home Member State receiving the pension scheme (the "‘receiving institution"'). Unless national social and labour law on pension systemslaw provides otherwise, the transfer and its conditions should be subject to prior approval by members and beneficiaries concerned or, where applicable, their representatives.
Amendment 413 #
2014/0091(COD)
Proposal for a directive
Recital 47
Recital 47
(47) Before joining a scheme, prospective members should be given all the necessary information to make an informed choice such as possibilities to opt out, contributions, costs and investment options, where applicable. Important basic information, e.g. concerning contributions and benefits, should also be made available to prospective members who, because they are automatically admitted to a particular pension scheme, do not have options to choose from.
Amendment 429 #
2014/0091(COD)
Proposal for a directive
Recital 57
Recital 57
(57) In order to ensure the smooth functioning of the internal market for occupational retirement provision organised on a European scale, the Commission should, after consulting EIOPA, review and report on the application of this Directive and should submit that report to the European Parliament and to the Council foursix years after the entry into force of this Directive. That review should assess in particular the application of the rules regarding the calculation of the technical provisions, the funding of technical provisions, regulatory own funds, solvency margins, investment rules and any other aspect relating to the financial solvency situation of the institution. In addition, there should be an appropriateness review of all provisions in this Directive.
Amendment 475 #
2014/0091(COD)
Proposal for a directive
Article 13 – paragraph 2
Article 13 – paragraph 2
(2) The transfer of all or part of a pension scheme between transferring and receiving institutions authorised or registered in different Member States shall be subject to prior authorisation by the competent authority of the home Member State of the transferring institution, after first obtaining the consent of the competent authority of the home Member State of the receiving institution. The application for authorisation of the transfer shall be submitted by the receivtransferring institution.
Amendment 633 #
2014/0091(COD)
Proposal for a directive
Article 39 – paragraph 4
Article 39 – paragraph 4
(4) Institutions shall publish the conditions of the pension scheme on a website of their choice.
Amendment 708 #
2014/0091(COD)
Proposal for a directive
Article 57 – paragraph 1
Article 57 – paragraph 1
(1) Institutions shall be required to provide beneficiaries with informationcomprehensive information at regular intervals about the benefits due and the corresponding payment options.
Amendment 714 #
2014/0091(COD)
Proposal for a directive
Article 59 – paragraph 1
Article 59 – paragraph 1
1. The main objective of prudential supervision is the protection of members and beneficiariethe rights and entitlements of members and beneficiaries and the stability and effective management of the institutions.
Amendment 721 #
2014/0091(COD)
Proposal for a directive
Article 73 – paragraph 1
Article 73 – paragraph 1
1. Member States 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 with the involvement of the social partners, and by so doing, preventing distortions of competition and creating the conditions required for unproblematic cross-border membership.
Amendment 724 #
2014/0091(COD)
Proposal for a directive
Article 75 – paragraph 1
Article 75 – paragraph 1
Amendment 252 #
2014/0020(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point b – introductory part
Article 3 – paragraph 1 – point b – introductory part
(b) any of the following entities that for a period of three consecutive yearhas or within any period of the last three years, but not retroactively covering any period before this regulation entered into force, has hasd total assets amounting at least to EUR 30 billion and has trading activities calculated on a non-risk weighted basis according to Articles 22 and 23 amounting at least to EUR 70 billion or 10 per cent of its total assets:
Amendment 278 #
2014/0020(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 4
Article 5 – paragraph 1 – point 4
4. ‘proprietary trading’ means using own capital or borrowed money to take positions in any type of transaction to purchase, sell or otherwise acquire or dispose of any financial instrument or commodities for the soleprimary purpose of making a profit for own account, and without any connection to actual or anticipated client activity or for the purpose of hedging the entity’s risk as result of actual or anticipated client activity, through the use of desks, units, divisions or individual traders specifically dedicated to such position taking and profit making, including through dedicated web-based. This definition includes any such transaction undertaken with the aim of making profit, irrespective of whether such profit would be realised in the short term or in the longer term, or is in fact realised. Unless an institution demonstrates and proves to the satisfaction of the competent authority that an activity is not covered by this definition it shall be deemed to be proprietary trading platforms; ;
Amendment 323 #
2014/0020(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point b – point iii a (new)
Article 6 – paragraph 1 – point b – point iii a (new)
(iii a) engage in lending to, grant guarantees to, or hold any financial instrument other than those listed in point (ii) of this paragraph issued by an AIF.
Amendment 465 #
2014/0020(COD)
Proposal for a regulation
Article 9 – paragraph 2 – point h a (new)
Article 9 – paragraph 2 – point h a (new)
(h a) the exposure to derivatives as measured by notional outstanding divided by total assets;
Amendment 466 #
2014/0020(COD)
Proposal for a regulation
Article 9 – paragraph 2 – point h b (new)
Article 9 – paragraph 2 – point h b (new)
(h b) the exposure to derivatives as measured by the sum of derivatives assets and derivatives liabilities divided by total assets;
Amendment 471 #
2014/0020(COD)
Proposal for a regulation
Article 9 – paragraph 2 – point h c (new)
Article 9 – paragraph 2 – point h c (new)
(h c) the non-bank loan to total asset ratio.
Amendment 474 #
2014/0020(COD)
Proposal for a regulation
Article 9 – paragraph 2 – point h d (new)
Article 9 – paragraph 2 – point h d (new)
(h d) the ratio of corporate and investment banking revenues to total revenues
Amendment 475 #
2014/0020(COD)
Proposal for a regulation
Article 9 – paragraph 2 – point h e (new)
Article 9 – paragraph 2 – point h e (new)
(h e) the ratio of derivatives assets to total assets, where derivatives assets are derivatives with positive replacement values not identified as hedging or embedded derivatives.
Amendment 499 #
2014/0020(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. Where the competent authority concludes that, following the assessment referred to in Article 9(1), the limits and conditions linked to the metrics referred to in points (a) to (h b) of Article 9(2) and specified in the delegated act referred to in paragraph 5 are met, and it therefore deems that there is a threat to the financial stability of the core credit institution or to the whole or part of the Union financial system as a whole, taking into account the objectives referred to in Article 1, it shall, no later than two months after the finalisation of that assessment, start the procedure leading to a decision as referred to in the second subparagraph of paragraph 3.
Amendment 521 #
2014/0020(COD)
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 2
Article 10 – paragraph 3 – subparagraph 2
Unless the core credit institution demonstrates, within the time limit referred to in the first subparagraph, to the satisfaction of the competent authority, that the reasons leading to the conclusions are not justifiedactivities referred to in paragraphs 1 and 2 of this Article do not pose a threat to financial stability of the core credit institution or to the whole or part of the Union financial system, the competent authority shall adopt a decision addressing the core credit institution and requiring it not to carry out the trading activities specified in those conclusions. The competent authority shall state the reasons for its decision and publicly disclose it.
Amendment 547 #
2014/0020(COD)
Proposal for a regulation
Article 10 – paragraph 4 a (new)
Article 10 – paragraph 4 a (new)
4 a. Notwithstanding separation decisions, the competent authority may impose additional capital and liquidity requirements that it deems necessary to counter a threat to the financial stability of the core credit institution or to the whole or part of the Union financial system.
Amendment 548 #
2014/0020(COD)
Proposal for a regulation
Article 10 – paragraph 4 b (new)
Article 10 – paragraph 4 b (new)
4 b. Where the competent authority concludes that, following the assessment referred to in Article 9(1), the metric referred to in point h c) of Article 9(2) falls below 40 percent or the metric referred to in point h d) of Article 9(2) exceeds 30 percent or the metric referred to in point h e) of Article 9(2) exceeds 15 percent, it shall no later than two months after the finalisation of that assessment adopt a final decision addressing the core credit institution and requiring it not to carry out certain trading activities and publicly disclose it.
Amendment 701 #
2014/0020(COD)
Proposal for a regulation
Article 21 – title
Article 21 – title
Amendment 706 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 1 – introductory part
Article 21 – paragraph 1 – introductory part
1. At the request of a Member State, the Commission may grant a derogation from the requirements of this Chapter to a credit institution taking deposits from individuals and SMEs that areis subject to national primary legislation adopted before 29 January 2014 when the national legislation complies withrequiring structural separation of deposits and adopted before 29 January 2014 shall be deemed compliant with the requirements in this Chapter as regards to the requirement not to carry out trading activities or certain trading activities when the institution meets the following requirements:
Amendment 710 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 1 – point a
Article 21 – paragraph 1 – point a
(a) its structure aims at preventing financial stress or failure and systemic risk referred to in Article 1;
Amendment 714 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 1 – point b
Article 21 – paragraph 1 – point b
(b) its structure prevents credit institutions taking eligible deposits from individuals and SMEs from engaging in the regulated activity of dealing in investments as principal and holding trading assets; however, the national legislation may provide forits structure may foresee limited exceptions to allow the credit institution taking deposits from individuals and SMEs to undertake risk- mitigating activities for the purpose of prudently managing its capital, liquidity and funding and to provide limited risk management services to customers;
Amendment 717 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 1 – point c – introductory part
Article 21 – paragraph 1 – point c – introductory part
(c) if the credit institution taking eligible deposits from individuals and SMEs belongs to a group, ithe group's structure ensures that the credit institution is legally separated from group entities that engage in the regulated activity of dealing in investments as a principal or hold trading assets, and the national legislation specifiguarantees the following:
Amendment 720 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 1
Article 21 – paragraph 2 – subparagraph 1
Amendment 725 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 2
Article 21 – paragraph 2 – subparagraph 2
Once the Commission has all the information it considers necessary for appraisal of the request for derogat decision, it shall within one month notify the requesting Member Statecredit institution that it is satisfied with the information.
Amendment 729 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 3
Article 21 – paragraph 2 – subparagraph 3
Within five months of issuing the notification referred to in the second subparagraph, the Commission shall, after having consulted the EBA on the reasons underlying its envisaged decision and on the potential impact of such a decision on the financial stability of the Union and the functioning of the internal market, adopt an implementingthe decision declaring the national legislation not incompatible with this Chapter and granting the derogation to the credit institutions specified in the request referred to in paragraph 1. Where the Commission intends to declare the national legislacompliance of the credit institution with this Chapter. Where the Commission intends not to affirm the credit institution in's compatible and to not grant the derogationliance referred to in paragraph 1, it shall set out its objections in detail and provide the requesting Member Statecredit institution with the opportunity to submit written comments within one month from the date of notification of the Commission objections. The Commission shall within three months from the end of the time limit for submission adopt an implementing further decision granting or rejecting the derogationrequest for an affirmation of compliance referred to in subparagraph 1.
Amendment 734 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 4
Article 21 – paragraph 2 – subparagraph 4
Where the national legislation is amended, the Member Staterelevant structure of the credit institution is changed or is foreseen to be changed, the credit institution shall notify the amendmentchanges to the Commission. TAs a consequence, the Commission may review the implementingany decision referred to in the third subparagraphis paragraph and withdraw it.
Amendment 738 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 5
Article 21 – paragraph 2 – subparagraph 5
Where the national legislation not declared incompatiblecredit institution that was declared to be compliant with this Chapter is no longer applies to a credit institution that has been granted derogation from the requirements of this Chaptersubject to the national legislation referred to in paragraph 1, thate derogation shall be withdrawn with regard to that credit institutiocision of compliance shall be withdrawn.
Amendment 742 #
2014/0020(COD)
Proposal for a regulation
Article 21 – paragraph 2 – subparagraph 6
Article 21 – paragraph 2 – subparagraph 6
The Commission shall notify the EBA of its decisions to the EBA. The EBA shall publish a list of the credit institutions that have been granted a derogationreceived a decision concerning their compliance in accordance with this Articleparagraph. The list shall be continuously kept up-to-date.
Amendment 744 #
2014/0020(COD)
Proposal for a regulation
Chapter 3 a (new)
Chapter 3 a (new)
Amendment 817 #
2014/0020(COD)
Proposal for a regulation
Article 30 – paragraph 2 – point b
Article 30 – paragraph 2 – point b
(b) appropriate protection for persons working under a contract of employment, who report breaches or who are accused of breaches, against retaliation, discrimination or other types of unfair treatment. This includes prohibiting an institution from trying to investigate the source of the information;
Amendment 819 #
2014/0020(COD)
Proposal for a regulation
Article 30 – paragraph 4
Article 30 – paragraph 4
4. Member States mayshall provide for financial incentives to persons who offer relevant information about potential breaches of this Regulation to be granted in accordance with national law where such persons do not have other pre-existing legal or contractual duties to report such information, and provided that the information is new, and it results in the imposition of an administrative sanction or other measure taken for a breach of this Regulation or a criminal sanction. Should the information reported result in a pecuniary penalty, the financial incentive shall be calculated as a proportion of this pecuniary penalty of no less than 15 % of the penalty imposed. Should the information reported result in a non- pecuniary penalty, the financial incentive shall reflect the gravity and duration of the breach, and it will be paid by the natural or legal person that committed the breach.
Amendment 41 #
2013/2277(INI)
Motion for a resolution
Recital B
Recital B
B. whereas, within the Troika, the Commission is responsible at technical level for negotiating the conditions for financial assistance for euro area Member States ‘in liaison with the ECB’ and ‘wherever possible together with the IMF’, the; whereas political responsibility for the Troika's programmes lies primarily with the European heads of state and government and with the relevant finance ministers; whereas that financial assistance is hereinafter referred to as ‘EU- IMF assistance’;
Amendment 51 #
2013/2277(INI)
Motion for a resolution
Recital C
Recital C
C. whereas the Troika is the basic structure for negotiation between the official lenders and the governments of the recipient countries, as well as for reviewing the implementation of adjustment programmes; whereas for the European side, the final decisions as regards financial assistance and conditionality are taken by the Eurogroupheads of state and finance ministers - thus, they are responsible for failures seen;
Amendment 61 #
2013/2277(INI)
Motion for a resolution
Recital D
Recital D
D. whereas the Troika together with the Member State concerned is also responsible for the preparation of formal decisions of the Eurogroup;
Amendment 76 #
2013/2277(INI)
Motion for a resolution
Recital G
Recital G
G. whereas a Memorandum of Understanding (MoU) is, by definition, an agreement between the Member State concerned and the Troika, which results from negotiations and whereby a Member State undertakes to carry out a number of actions in exchange for financial assistance; whereas, however, it is not public knowledge how negotiations have been conducted in practice between the Troika and the relevant Member State and, furthermore, there is no transparency as to the extent to which a Member State seeking assistance has been able to influence the outcome of negotiations; whereas it is stipulated in the ESM Treaty that a Member State requesting assistance from the ESM has also to address a request for assistance to the IMF;
Amendment 93 #
2013/2277(INI)
Motion for a resolution
Recital I
Recital I
I. whereas the economic situation and recent developments in some Member States have, in particular in Member States seeking assistance, have seriously compromised the quality and volume of employment,. social protection and health and safety standards , this being the direct consequence of unbalanced austerity requirements without growth incentives or investment impetus; whereas the primary objective of the Troika's conditionality policy has been to cut pay and pension levels and to erode social achievements, such as workers' rights, but also, as in Portugal, for example, to privatise collectively owned assets, such as water;
Amendment 149 #
2013/2277(INI)
Motion for a resolution
Recital L
Recital L
L. whereas the programmes were in the short run primarily meant to avoid a disorderly default and stop speculation on sovereign debt; whereas the medium term aim was to ensure that the money that was lent would be reimbursed, thus avoiding a large financial loss that would rest on the shoulders of the taxpayers of the countries which are providing the assistance and guaranteeing the funds; whereas this also requires the programme to deliver sustainable growth and effective debt reduction in the medium and long term; whereas the programmes were not suited todesigned for comprehensively correcting macroeconomic imbalances which had accumulated sometimes over decades;
Amendment 192 #
2013/2277(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes that, prior to the beginning of the EU-IMF assistance programme initiated in the spring of 2010, there was a dual fear associated with the ‘insolvency’ and ’non- sustainability’ of the public finances of Greece as a result of the constantly declining competitiveness of the Greek economy and decades of imprudent fiscal policy, with the government deficit reaching 15.7% of GDP in 2009, and the debt-to-GDP ratio continuing on an upward trend since 2003 when it stood at 97.4%, reaching 129,7% in 2009 and 156.9% in 2012;
Amendment 197 #
2013/2277(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Notes that Greece entered recession in Q4 2008; notes that the country experienced six quarters of negative GDP growth rate in the seven leading to the assistance programme being activated; notes that there is a close correlation between the impact of the financial crisis and the increase in public debt, on the one hand, and between the increase in public debt and the cyclical downturn, on the other, with public debt increasing from EUR 254.7 billion at the end of Q3 2008 to EUR 314.1 billion at the end of Q2 2010; notes that, before the unbalanced austerity measures were implemented, the Greek debt mountain was lower than it is today and that it can be inferred from this that the cutbacks have made Greece's debt position worse and provided no remedy; notes that, as a result of the reluctance of important Member States to grant assistance - inter alia in the light of regional elections - and the resulting doubts as to euro zone cohesion, the costs of the crisis have risen;
Amendment 240 #
2013/2277(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Notes that the initial agreement between the Greek authorities on the one side and the EU and IMF on the other was adopted on 2 May 2010 in the relevant MoUs containing , the policy conditionality for EU-IMF financial assistance; further notes that, following five reviews and the insufficient success of the first programme, which was the result of a misconceived overemphasis on austerity, a second programme had to be adopted in March 2012, which has been reviewed three times since;
Amendment 276 #
2013/2277(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Deplores the unpreparedness ofNotes that the EU and international institutions, including the IMF, were not prepared for a sovereign debt crisis of a large magnitude inside a monetary union stemming from the most serious financial crisis since 1929;
Amendment 319 #
2013/2277(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Regrets the lack of transparency in the MoU negotiations; notes the necessity to evaluate whether formal documents were clearly communicated in due time to the national parliaments and the European Parliament; further notes the possible negative impact of such practices on citizens’ rights and the political situation within the countries concerned;
Amendment 352 #
2013/2277(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. RegretsCondemns the fact that the programmes for Greece, Ireland and Portugal comprise a number of detailed prescriptions for health systems reform and expenditure cuts; regretsexpenditure cuts, particularly in the education, health and social security budgets as well as in funding to promote renewable energy; condemns the fact that the programmes are not bound by the Charter of Fundamental Rights of the European Union and the Treaties, including Art. 168(7) TFEU;
Amendment 383 #
2013/2277(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Deplores that since 2008 the income distribution inequality has grown above average in the four countries and that cuts in social benefits and rising unemployment are raising poverty level, particularly among the younger generation, are raising poverty levels in a way that is shaming when set against a backdrop of European values;
Amendment 392 #
2013/2277(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Points to the highly unacceptable level of youth unemployment in the four Member States under assistance programmes; points especially to the sharp increase in youth unemployment in Greece, Cyprus and Portugal; and to the flow of young migrants from Southern Europe, prompted by poverty and a lack of prospects, that risks causing a brain drain from Southern European societies;
Amendment 449 #
2013/2277(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Underlines that adequate economic models are necessary in order to produce credible and efficient, economic expertise and a rejection of neo-liberal economic thinking are necessary in order to produce growth- promoting, balanced and democratically legitimate adjustment programmes; deplores that adequate statistics and information were not always available; points out that in Greece large- scale fraud was happening in this respect in the years preceding the setting up of the programme and that the authorities at European level, including Heads of State and Government, were not prepared to take appropriate measures to counteract the blatant fraud that was taking place;
Amendment 474 #
2013/2277(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Notes that financial assistance achieved in the short run the avoidance of a disorderly default on sovereign debt that would have had extremely severe economic and social consequences, as well as spill-over effects for other countries of an incalculable magnitude, and possibly the forced exit of countries from the euro area; further notes that there is no guarantee this will be avoided in the long run; also notes that the financial assistance and adjustment programme in Greece have not prevented an orderly default nor contagion of the crisis to other Member States; deplores the economic and social downturn which became evident when the fiscal and macroeconomic corrections were put into placeoccurred as a result of the misguided fiscal and macroeconomic measures;
Amendment 493 #
2013/2277(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Notes that, although from the onset the Troika published comprehensive documents on the diagnosis, the strategy to overcome the problems, a set of policy measures elaborated together with the national government concerned, and economic forecasts, all of which are updated on a regular basis, these documents did not permit the public to form an overall view of the negotiations;
Amendment 538 #
2013/2277(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Points out that while the IMF’s stated objective in its assistance operations within the frame of the Troika is internal devaluation, the Commission has never clearly endorsed this objective; notes that the objective emphasised by the Commission in all four programme countries under enquiry has rather been fiscal consolidationto make one-sided budget cuts without growth stimuli;
Amendment 546 #
2013/2277(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Considers that too little attention has been given to alleviating the negative impact of adjustment strategies in the programme countries, for example unemployment, social inequalities, and the fact that the burden has been placed mainly on lower income groups, whereas the highest income groups have been almost completely spared, and that there has been no political will to address these shortcomings in the Troika negotiations;
Amendment 562 #
2013/2277(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Stresses that national-level ownership is important, and that failure to implement agreed measures has consequences in terms of the expected results; also points out, however, that the failures to implement requirements are attributable in part to the Troika’s ill-conceived and socially severely lopsided programmes; maintains in addition that the conditions might have been accepted much more willingly within society if the higher income groups in the programme countries, as well as the financial industry, had been made, through a financial transaction tax, to bear a share of the costs brought about by the crisis and if resolute action had been taken at European level to stamp out tax evasion and fraud;
Amendment 597 #
2013/2277(INI)
Motion for a resolution
Paragraph 29
Paragraph 29
29. Notes that, in the Troika’eyes of citizens mandate has been perceived as being the national parliaments and the European Parliament, the Troika’s mandate has remained totally unclear and lackingdevoid of transparency;
Amendment 608 #
2013/2277(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Points out that due to its ad hoc natureone reason that there was no appropriate legal basis for setting up the Troika on the basis of Union primary law lay in its ad hoc nature, but another reason was that Heads of State or Government prefer intergovernmental arrangements to Community systems; points out that crisis machinery set up at intergovernmental level lies completely outside democratic control by the European Parliament;
Amendment 626 #
2013/2277(INI)
Motion for a resolution
Paragraph 31
Paragraph 31
31. Notes the admission by the President of the Eurogroup before the European Parliament that the Eurogroup endorsed the recommendations of the Troika without considering their specific policy implications and without thoroughly addressing itself in the proper manner to the details of the programme proposals and the implications;
Amendment 693 #
2013/2277(INI)
Motion for a resolution
Paragraph 36
Paragraph 36
36. Notes that formal decisions are made by both the Eurogroup and the IMF, which are consequently politically responsible for the Troika’s actions, with a crucial role now given to the ESM as it is the organisation responsible for deciding on financial assistance, thus puttingimplying that governments, including those of the Member States directly concerned, should be at the centre of any decisions taken;
Amendment 705 #
2013/2277(INI)
Motion for a resolution
Paragraph 37
Paragraph 37
37. Points toDeplores the fact that the ESM is intergovernmental by nature, is bound by the unanimity rule, and is subject to political influence exerted by finance ministers, heads of state and government as well as national parliaments;
Amendment 729 #
2013/2277(INI)
Motion for a resolution
Paragraph 38
Paragraph 38
38. Reiterates its call for all decisions related to the strengthening of the EMU to be taken on the basis of the Treaty on European Union; takes the view that, just as they have done in the past, any departure from the Community method and increased use of intergovernmental agreements would divide and weaken the Union, including the euro area;
Amendment 806 #
2013/2277(INI)
Motion for a resolution
Paragraph 41
Paragraph 41
41. Calls for thegreater involvement of social partners in the appropriate form in the design and implementation of adjustment programmes, current and future;
Amendment 825 #
2013/2277(INI)
Motion for a resolution
Paragraph 42
Paragraph 42
42. Demands that the Troika take stock of the current debate on fiscal multipliers and consider the revision ofrevise the MoUs on the basis of the latest empirical results, with particular reference to growth stabilisers;
Amendment 847 #
2013/2277(INI)
Motion for a resolution
Paragraph 43
Paragraph 43
43. Is concerned, in particular, to improve the accountability of the Commission when it acts in its capacity as a member of the Troika; requests that the Commission representative(s) in the Troika should be heard in the European Parliament before taking up their duties and should be subject to regular reporting to the European Parliament; reform programmes on the European level (as MoU) should be legitimised by decisions of the European Parliament.
Amendment 12 #
2013/2021(INI)
Motion for a resolution
Recital B
Recital B
B. whereas in the five years since the 2008 global economic and financial crisis, the EU economy has remained in a state of recession, with Member States providing subsidies and implicit guarantees to banks; whereas the vicious circle involving the solvency of states and banks must be broken once and for all;
Amendment 30 #
2013/2021(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas profits in the financial sector were often privatised but risks and losses were nationalised; whereas in a social market economy, risk and liability must go hand in hand;
Amendment 82 #
2013/2021(INI)
Motion for a resolution
Recital H a (new)
Recital H a (new)
Ha. whereas decentralised local and regional institutions within the banking sector in the Member States have shown themselves to be stable and beneficial in terms of financing the real economy;
Amendment 91 #
2013/2021(INI)
Motion for a resolution
Recital I a (new)
Recital I a (new)
Ia. whereas supervisory and resolution authorities must be given the requisite authority to be able effectively to remove impediments to the resolvability of credit institutions and the banks must be forced to prove their resolvability; whereas the introduction of compulsory recovery and resolutions regimes provides an opportunity to influence the banking structure, reduce the complexity of institutions and restrict or terminate business sectors and products;
Amendment 102 #
2013/2021(INI)
Motion for a resolution
Recital J a (new)
Recital J a (new)
Ja. whereas the EU banking sector faces far-reaching structural changes resulting from changes in the market situation and comprehensive regulatory reforms such as implementation of the Basel III rules;
Amendment 177 #
2013/2021(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Considers that the core principle of banking reform must be to deliver a safe, stable and efficient banking system that serves the needs of the real economy, customers and consumers; takes the view that structural reform must stimulate economic growth by supporting the provision of credit to the economy, in particular to SMEs and start-ups, provide greater resilience against potential financial crises, restore trust and confidence in banks, harmonise liability and risk and remove risks to public finances;
Amendment 196 #
2013/2021(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Considers that an effective banking system must deliver a change in banking culture in order to reduce complexity, enhance competition, limit interconnectedness between risky and commercial activities, improve corporate governance, create a responsible remuneration system, allow effective bank resolution and recovery, reinforce bank capital and deliver credit and provide important service functions to the real economy;
Amendment 229 #
2013/2021(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Urges the Commission to come forward with a proposal for mandatory separation of banks’the retail and investment activities of those banks which engage in significant commercial activity;
Amendment 247 #
2013/2021(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Urges the Commission to come forward with a proposal for such mandatory separation through the establishment of a thorough, transparent and credible ‘ring fence’ around bank activities that are vital for the real economy, such as those relating to credit functions, payment systems and deposits; takes the view that in the event of a bank failure, the ring fence must ensure that the retail entity continues business unaffected by operational problems, financial losses, funding shortages or reputational damage resulting from the resolution or insolvency of the investment entity; considers a holding structure to be one way of ensuring that the requisite ring fence is put in place under one roof; urges the Commission to investigate how the joint and several liability of individual business units can be effectively brought to an end and economies of scope and scale put into practice with a holding structure in place;
Amendment 280 #
2013/2021(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Urges the Commission to investigate which commercial activities should be permitted for banks, and on what scale, to enable them effectively to support the real economy and to ensure the stability of individual institutions and of the financial sector overall;
Amendment 346 #
2013/2021(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Calls on the Commission to examine the extent to which the Volcker Rules applied in the USA and the recommendations of the Vickers Commission which are implemented in the UK could be applied EU-wide; considers it necessary to establish a separate EU banking system which takes into account national structures and social models which have evolved over time;
Amendment 388 #
2013/2021(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Urges the Commission to assist in reaching an agreement on the proposed Deposit Guarantee Scheme Directive and to increase consumer protection by introducing depositor preference.
Amendment 470 #
2013/2021(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Urges the Member States to ensure that their national supervisors havcreate the clear objective of promotingonditions for effective competition in their banking sectors in order to create greater diversity and customer- orientation;
Amendment 101 #
2013/0306(COD)
Proposal for a regulation
Recital 2 a (new)
Recital 2 a (new)
(2a) MMFs accept funding with deposit- like characteristics, perform maturity and liquidity transformation and engage in credit risk transfer. Hence, they are shadow banks in the strict sense of the word.
Amendment 110 #
2013/0306(COD)
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
(6a) In view of the many bank-like characteristics of MMFs and the systemic interconnections to bank stability, MMFs should be subject to the supervision of the banking supervisors.
Amendment 118 #
2013/0306(COD)
Proposal for a regulation
Recital 22
Recital 22
(22) Money market instruments are transferable instruments normally dealt in on the money market, as treasury and local authority bills, certificates of deposits, commercial papers, asset backed securities of high quality and liquidity, bankers' acceptances or medium- or short-term notes. They should be eligible for investment by MMFs only insofar as they comply with maturity limits andor are considered by the MMF to be of high credit quality.
Amendment 123 #
2013/0306(COD)
Proposal for a regulation
Recital 23
Recital 23
(23) Asset Backed Commercial Papers (ABCPs) and Asset Backed Securities should be considered eligible money market instruments to the extent that they respect additional requirements. Due to the fact that during the crisis certain securitisations were particularly unstable, it is necessary to impose inter alia maturity limits andor quality criteria on the underlying assets. Not allHowever, categories of underlying assets should be eligible because some were more confronted to instability than othersthat have performed well during the crisis and demonstrated a good liquidity and credit track-record should be eligible. For this reason the underlying assets should be exclusively composed of short- term debt instruments that have been issued by corporates in the course of their business activity, such as trade receivables. Instruments such as auto loans and leases, , or of other instruments of high credit quality and liquidity, meeting the requiprements leases, consumer loans, residential mortgage loans, credit card receivables or any other type of instrument linked to the acquisition or financing of services or goods by consumers should not be eligibleaid down in Article 13 of the Commission delegated regulation [No .../...] to supplement Regulation (EU) 575/2013 with regard to liquidity coverage requirement for Credit Institutions which will establish high standards regarding quality and liquidity. This will combine the requirements of risk minimization for MMFs with the encouragement for MMFs to finance the real economy. ESMA should be entrusted with drafting regulatory technical standards to be submitted for endorsement by the Commission with regard to the conditions and circumstances under which the underlying exposure or pool of exposures is considered to exclusively consist of corporate debt and the conditions and numerical thresholds determining when corporate debt is of high credit quality and liquid.
Amendment 250 #
2013/0306(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 16 – point c a (new)
Article 2 – paragraph 1 – point 16 – point c a (new)
(ca) with respect to Article 15a of this Regulation the authority designated by a Member State in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and Directive 2013/36/EU for credit institutions in the MMF's home Member State;
Amendment 251 #
2013/0306(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 16 – point c b (new)
Article 2 – paragraph 1 – point 16 – point c b (new)
(cb) With respect to Article 15a and if the authority referred to in point c a is located in a participating Member State and any of the following conditions is met: (i) the total value of the MMF's assets exceeds EUR 10 billion or (ii) following a notification by any competent authority that it considers such a fund of significant relevance with regard to the domestic financial stability or economy, the ECB takes a decision confirming such significance following a comprehensive assessment by the ECB of that fund, the SSM and within the SSM the ECB as described in Regulation (EU) No 1024/2013 may, on behalf of its own assessment of necessity, act as the competent authority as regards to this Regulation and, thereby, contribute to undistorted conditions of competition within the financial sector.
Amendment 253 #
2013/0306(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 22 a (new)
Article 2 – paragraph 1 – point 22 a (new)
(22a) "asset-backed securities of high liquidity and credit quality" means assets meeting the requirements laid down in Article 13 of the Commission delegated regulation [No .../...] to supplement Regulation (EU) 575/2013 with regard to liquidity coverage requirement for Credit Institutions;
Amendment 255 #
2013/0306(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 22 a (new)
Article 2 – paragraph 1 – point 22 a (new)
(22a) 'participating Member State' means a Member State whose currency is the euro or a Member State whose currency is not the euro which has established a close cooperation in accordance with Article 7 of Regulation (EU) No 1024/2013.
Amendment 296 #
2013/0306(COD)
Proposal for a regulation
Article 9 – paragraph 1 – point b – introductory part
Article 9 – paragraph 1 – point b – introductory part
(b) it is in the form of asset-backed securities of high liquidity and credit quality in line with the requirements laid down in Article 13 of the Commission delegated regulation [No .../...] to supplement Regulation (EU) 575/2013 with regard to liquidity coverage requirement for Credit Institutions or it displays one of the following alternative characteristics:
Amendment 302 #
2013/0306(COD)
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
2. Standard MMFs shall be allowed to invest in a money market instrument that undergoes regular yield adjustments in line with money market conditions every 397 days or on a more frequent basis while not having a residual maturity exceeding 2 years. or qualifying as asset-backed securities of high liquidity and credit quality complying with the requirements laid down in Article 13 of the Commission delegated regulation [No .../...] to supplement Regulation (EU) 575/2013 with regard to liquidity coverage requirement for Credit Institutions;
Amendment 319 #
2013/0306(COD)
Proposal for a regulation
Article 10 – paragraph 1 a (new)
Article 10 – paragraph 1 a (new)
1 a. A securitisation shall also be considered as eligible provided that it qualifies as asset-backed security of high liquidity and credit quality meeting the requirements laid down in Article 13 of the Commission delegated regulation [No .../...] to supplement Regulation (EU) 575/2013 with regard to liquidity coverage requirement for Credit Institutions.
Amendment 397 #
2013/0306(COD)
Proposal for a regulation
Article 15 a (new)
Article 15 a (new)
Article 15 a Harmonisation of capital buffers and liquidity requirements in the financial sector 1. The competent authority shall impose capital buffers and liquidity requirements according to the standards laid out in Regulation (EU) No 575/2013 and Directive 2013/36/EU. 2. If the authority referred to in Article 2 paragraph 1 point 16 point c a acts as the competent authority, it shall submit its decisions and the related information regarding its regulatory activities according to paragraph 1 to the SSM. 3. Article 1 of Regulation (EU) No 575/2013 is hereby amended as follows: "This Regulation lays down uniform rules concerning general prudential requirements that institutions supervised under Directive 2013/36/EU as amended shall comply with in relation to the following items: (a) own funds requirements relating to entirely quantifiable, uniform and standardised elements of credit risk, market risk, operational risk and settlement risk; (b) requirements limiting large exposures; (c) after the delegated act referred to in Article 460 has entered into force, liquidity requirements relating to entirely quantifiable, uniform and standardised elements of liquidity risk; (d) reporting requirements related to points (a), (b) and (c) and to leverage; (e) public disclosure requirements. This Regulation does not govern publication requirements for competent authorities in the field of prudential regulation and supervision of institutions as set out in Directive 2013/36/EU as amended." 4. Article 2 of Directive 2013/36/EU is hereby amended as follows: Paragraph 1 is replaced by the following: "This directive shall apply to institutions. As regards to capital buffers and liquidity requirements it also shall apply to money market funds." 5. Article 3 of Directive 2013/36/EU is hereby amended as follows: Point 2a shall be added to paragraph 1 after point 2 and read as follows: "'money market fund' means a fund within the scope of Regulation XXX (MMF Regulation);".
Amendment 752 #
2013/0306(COD)
Proposal for a regulation
Article 42 – paragraph 2
Article 42 – paragraph 2
2. Competent authorities, including authorities designated by a Member State in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and Directive 2013/36/EU for credit institutions in the MMF's home Member State, SSM and ECB, and ESMA shall cooperate with each other for the purpose of carrying out their respective duties under this Regulation in accordance with Regulation (EU) No 1095/2010.
Amendment 754 #
2013/0306(COD)
Proposal for a regulation
Article 42 – paragraph 3
Article 42 – paragraph 3
3. Competent authorities, including authorities designated by a Member State in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and Directive 2013/36/EU for credit institutions in the MMF's home Member State, SSM and ECB, and ESMA shall exchange all information and documentation necessary to carry out their respective duties under this Regulation in accordance with Regulation (EU) No 1095/2010, in particular to identify and remedy breaches of this Regulation.
Amendment 350 #
2013/0264(COD)
Proposal for a directive
Article 53 – paragraph 1
Article 53 – paragraph 1
1. Where, for the use of a given payment instrument, the payee requests a charge or offers a reduction, the payee shall inform the payer thereof prior to the initiation of the payment transaction.
Amendment 353 #
2013/0264(COD)
Proposal for a directive
Article 53 – paragraph 2
Article 53 – paragraph 2
Amendment 355 #
2013/0264(COD)
Proposal for a directive
Article 53 – paragraph 2 a (new)
Article 53 – paragraph 2 a (new)
2a. Where a payment service provider is entitled to pass on third party costs, the payer shall not be obliged to pay for them if prior to initiating this payment information on the full amount was not given.
Amendment 359 #
2013/0264(COD)
Proposal for a directive
Article 55 – paragraph 1
Article 55 – paragraph 1
1. The payment service provider may not charge the payment service user for fulfilment of its information obligations or corrective and preventive measures under this Title, unless otherwise specified in Articles 70(1), 71(5) and 79(2). Those charges shall be agreed between the payment service user and the payment service provider and shall be appropriate and in line with the payment service provider’s actual costs. Upon request payment service providers shall disclose their actual costs.
Amendment 411 #
2013/0264(COD)
Proposal for a directive
Article 58 – paragraph 2 a (new)
Article 58 – paragraph 2 a (new)
2a. Personalised security features used by the payment service user to access his or her online banking application shall not be used to initiate payment orders through third party payment service providers.
Amendment 451 #
2013/0264(COD)
Proposal for a directive
Article 64 – paragraph 2
Article 64 – paragraph 2
2. Where a payment service user denies having authorised an executed payment transaction, the use of a payment instrument recorded by the payment service provider, including the third party payment service provider as appropriate, shall in itself not necessarily be sufficient to prove either that the payment transaction was authorised by the payer or that the payer acted fraudulently or failed with intent or gross negligence to fulfil one or more of the obligations under Article 61. Supporting evidence shall be given by the payment service provider, including the third party provider as appropriate, to prove fraud or gross negligence on part of the payer.
Amendment 466 #
2013/0264(COD)
Proposal for a directive
Article 66 – paragraph 1 – subparagraph 1
Article 66 – paragraph 1 – subparagraph 1
By way of derogation from Article 65 the payer may be obliged to bear the losses relating to any unauthorised payment transactions, up to a maximum of EUR 50, resulting from the use of a lost or stolen payment instrument or from the misappropriation of a payment instrument. This shall not apply if the loss, theft or misappropriation of a payment instrument was not detectable to the payer prior to a payment.
Amendment 474 #
2013/0264(COD)
Proposal for a directive
Article 66 – paragraph 2 a (new)
Article 66 – paragraph 2 a (new)
2a. The payer shall not bear any financial consequences resulting from use of a lost, stolen or misappropriated payment instrument if the resulting unauthorised payment was made possible by a known defraud method or a security breach, except where the payer himself has acted fraudulently.
Amendment 480 #
2013/0264(COD)
Proposal for a directive
Article 67 – paragraph 1 – subparagraph 1 – introductory part
Article 67 – paragraph 1 – subparagraph 1 – introductory part
Member States shall ensure that a payer is entitled to a refund from the payment service provider of an authorised payment transaction initiated by or through a payee which has already been executed, if the following conditions are met:.
Amendment 483 #
2013/0264(COD)
Proposal for a directive
Article 67 – paragraph 1 – subparagraph 1 – point a
Article 67 – paragraph 1 – subparagraph 1 – point a
Amendment 486 #
2013/0264(COD)
Proposal for a directive
Article 67 – paragraph 1 – subparagraph 1 – point b
Article 67 – paragraph 1 – subparagraph 1 – point b
Amendment 489 #
2013/0264(COD)
Proposal for a directive
Article 67 – paragraph 1 – subparagraph 2
Article 67 – paragraph 1 – subparagraph 2
Amendment 492 #
2013/0264(COD)
Proposal for a directive
Article 67 – paragraph 1 – subparagraph 3
Article 67 – paragraph 1 – subparagraph 3
Amendment 493 #
2013/0264(COD)
Proposal for a directive
Article 67 – paragraph 1 – subparagraph 4
Article 67 – paragraph 1 – subparagraph 4
For direct debits the payer has an unconditional right for refund within the time limits set in Article 68, except where the payee has already fulfilled the contractual obliga. The refund shall consist of the full amount of the executed payment transactions and the services have already been received or the goods have already been consumed by the payer. At the payment service provider's request, the payee shall bear the burden to prove that the conditions referred to in the third subparagraphcredit value date for the payer's payment account shall be no later than the date the amount has been debited. The underlying legal claim of a payee shall not be altered by the refund of a payment.
Amendment 519 #
2013/0264(COD)
Proposal for a directive
Article 79 – paragraph 5 a (new)
Article 79 – paragraph 5 a (new)
5a. In case an attempt to recover the funds in accordance with paragraph 3 fails, the payment service provider of the wrongly addressed payee shall provide all necessary contact information of the recipient of the funds to the payer to allow further proceedings.
Amendment 89 #
2013/0253(COD)
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4a) The link between states and the banking sector, which has had devastating effects on the economy throughout the Union during the crisis, should be eliminated in order to reduce the current fragmentation of financial markets. Although the banking union will have a stable foundation only once all three pillars have been established, i.e. once a common European mechanism for deposit guarantee schemes has been set up, the creation of a single resolution mechanism already represents a significant step in that direction.
Amendment 98 #
2013/0253(COD)
Proposal for a regulation
Recital 8 a (new)
Recital 8 a (new)
(8a) In the banking union liability and supervision should apply at the same level, i.e. banks which are subject to direct supervision at European level should also be resolved at European level. Accordingly, the relevant national supervisory authority should be responsible for credit institutions which are supervised primarily at national level in the context of the common supervisory mechanism.
Amendment 107 #
2013/0253(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) A single bank resolution fund (hereinafter referred to as the ‘Fund’) is an essential element without which a single resolution mechanism could not work properly. Different systems of national funding would distort the application of uniform bank resolution rules in the internal market. The Fund should help to ensure a uniform administrative practice in the financing of resolution and to avoid the creation of obstacles for the exercise of fundamental freedoms or the distortion of competition in the internal market due to divergent national practices. The Fund should be financed directly by banks and should be pooled at Union level so that the resolution resources can be objectively allocated across Member States thus increasing financial stability and limiting the link between the perceived fiscal position of individual Member States and the funding costs of large, systemically relevant banks and undertakings operating in those Member States. Credit institutions which pay into the Fund should be exempted from the requirement to contribute to national resolution funds, in order to rule out double payment.
Amendment 113 #
2013/0253(COD)
Proposal for a regulation
Recital 14
Recital 14
(14) Mirroring the scope of the Council Regulation (EU) No …/…, a single resolution mechanism should cover all credit institutions established in the participating Member States. However, within the framework of aIn a banking union liability and supervision should apply at the same level. Banks which are subject to direct supervision at European level should also be resolved at European level. The single resolution mechanism, it should be possible to resolve directly any credit institution of a participating Member State in order to avoid asymmetries within the internal market in the treatment of failing institutions and creditors during a resolution processtherefore cover all credit institutions which are subject to direct supervision by the ECB. To the extent that parent undertakings, investment firms and financial institutions are included in the consolidated supervision by the ECB, they should be included in the scope of the single resolution mechanism. Although the ECB will not supervise those institutions on a solo basis, it will be the only supervisor that will have a global perception of the risk to which a group, and indirectly the individual members, is exposed to. To exclude entities which form part of the consolidated supervision within the scope of the ECB from the scope of the single resolution mechanism would make it impossible to plan for the resolution of banking groups and to adopt a group resolution strategy, and would make any resolution decisions much less effective.
Amendment 139 #
2013/0253(COD)
Proposal for a regulation
Recital 21
Recital 21
(21) The Board and the Commission, where relevant, should replace the national resolution authorities designated under Directive [ ] in respect of all aspects related to the resolution decision-making process concerning the resolution of entities covered by this Regulation. The national resolution authorities designated under Directive [ ] should continue to carry out activities related to the implementation of resolution schemes adopted by the Board. In order to ensure transparency and democratic control, as well as to safeguard the rights of the Union institutions, the Board should be accountable to the European Parliament and to the Council for any decisions taken on the basis of this proposal. For the same reasons of transparency and democratic control, national parliaments should have certain rights to obtain information about the activities of the Board and to engage in a dialogue with it.
Amendment 149 #
2013/0253(COD)
Proposal for a regulation
Recital 25
Recital 25
(25) The single resolution mechanism should be constructbased on the frameworks of Directive [ ] and the SSM. Therefore, the Board should be empowered to intervene at an early stage where the financial situation or the solvency of an institution is deteriorating. The information that the Board receives from the national resolution authorities or the ECB at this stage is instrumental in making a determination on the action it might take in order to prepare for the resolution of the institution concerned.
Amendment 153 #
2013/0253(COD)
Proposal for a regulation
Recital 27
Recital 27
(27) In order to minimise disruption to the financial market and to the economy, the resolution process should be accomplished in a short time. Depositors should be granted access at least to the guaranteed deposits at the earliest possible juncture, and at the latest within a time frame shorter than that in which depositors are afforded access to guaranteed deposits in the context of a normal insolvency procedure, in accordance with Directive [...] of the European Parliament and of the Council on deposit guarantee schemes. The Commission should, throughout the resolution procedure, have access to any information which it deems necessary to take an informed decision in the resolution process. Where the Commission decides to put an institution under resolution, the Board should immediately adopt a resolution scheme establishing the details of the resolution tools and powers to be applied, and the use of any financing arrangements. In that connection, the Board should work closely with the competent national authorities and resolution authorities and the deposit guarantee schemes.
Amendment 163 #
2013/0253(COD)
Proposal for a regulation
Recital 32
Recital 32
(32) Interference with property rights should not be disproportionate. As a consequence, affected shareholders and creditors should not incur greater losses than those which they would have incurred had the institution been wound up at the time that the resolution decision is taken. In the event of partial transfer of assets of an institution under resolution to a private purchaser or to a bridge institution, the residual part of the institution under resolution should be wound up under normal insolvency proceedings. In order to protect existing shareholders and creditors of the institution during the winding up proceedings, they should be entitled to receive in payment of their claims not less than what it is estimated they would have recovered if the whole institution had been wound up under normal insolvency proceedings. When powers to effect a conversion to equity under the bail-in tool are exercised, attention should be paid to the legal form of the institution concerned, on the grounds that the conversion of claims or debt instruments to equity may not be appropriate, as for example in the case of shares in cooperatives.
Amendment 234 #
2013/0253(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point a
Article 2 – paragraph 1 – point a
(a) credit institutions established in participating Member Statedirectly supervised by the European Central Bank in accordance with Article 6 paragraph 4 of Council Regulation (EU)No[ ] conferring specific tasks on the ECB concerning policies relating to the prudential supervision of credit institutions;
Amendment 239 #
2013/0253(COD)
Proposal for a regulation
Article 2 – paragraph 1 a (new)
Article 2 – paragraph 1 a (new)
Development banks shall be excluded from the scope of this Regulation.
Amendment 273 #
2013/0253(COD)
Proposal for a regulation
Article 5 – paragraph 3
Article 5 – paragraph 3
3. Subject to the provisions of this Regulation, as referred to in Art. 2, the national resolution authorities of the participating Member State shall act on the basis of and in conformity with the relevant provisions of national law, as harmonized by Directive [ ].
Amendment 528 #
2013/0253(COD)
Proposal for a regulation
Article 16 – paragraph 2 – point b
Article 16 – paragraph 2 – point b
(b) having regard to timing and other relevant circumstances, there is no reasonable prospect that any alternative private sector, including measures taken in the context of deposit or institutional guarantee schemes, or supervisory action (including early intervention measures or the write down or conversion of capital instruments in accordance with Article 14), taken in respect of the entity, or a measure to wind up the institution taken by the national resolution authorities, would prevent its failure within a reasonable timeframe;
Amendment 535 #
2013/0253(COD)
Proposal for a regulation
Article 16 – paragraph 3 – subparagraph 1 – point d – point iii
Article 16 – paragraph 3 – subparagraph 1 – point d – point iii
Amendment 563 #
2013/0253(COD)
Proposal for a regulation
Article 16 – paragraph 7
Article 16 – paragraph 7
7. The decision of the Commission shall be addressed to the Board. If the Commission decides not to place the entity under resolution, because the condition laid down in paragraph 2(c) is not met, the entity concerned shall be wound up by means of measures taken in the context of national resolution mechanisms or national deposit guarantee schemes or in accordance with national insolvency law.
Amendment 612 #
2013/0253(COD)
Proposal for a regulation
Article 18 – paragraph 2 – point b
Article 18 – paragraph 2 – point b
(b) having regard to timing and other relevant circumstances, there is no reasonable prospect that any action, including alternative private sector, including measures taken in the context of deposit or institutional guarantee schemes, or supervisory action (including early intervention measures), other than the write down or conversion of capital instruments, either singly or in combination with resolution action, would prevent the failure of that entity or group within a reasonable timeframe.
Amendment 719 #
2013/0253(COD)
Proposal for a regulation
Article 27 – paragraph 2
Article 27 – paragraph 2
2. In the exercise of their respective responsibilities under this Regulation, the Board, the Commission, the ECB and, the national competent authorities and resolution authorities and, where appropriate, deposit guarantee schemes shall cooperate closely. The ECB and the national competent authorities shall provide the Board and the Commission with all information necessary for the exercise of their tasks.
Amendment 721 #
2013/0253(COD)
Proposal for a regulation
Article 27 – paragraph 3
Article 27 – paragraph 3
3. In the exercise of their respective responsibilities under this Regulation, the Board, the Commission, the ECB and, the national competent authorities and resolution authorities and, where appropriate, deposit guarantee schemes shall cooperate closely. in the resolution planning, early intervention and resolution phases pursuant to Articles 7 to 26. The ECB and the national competent authorities shall provide the Board and the Commission with all information necessary for the exercise of their tasks.
Amendment 727 #
2013/0253(COD)
Proposal for a regulation
Article 28 – paragraph 1
Article 28 – paragraph 1
1. Both the Board and the national resolution authorities shall be subject to a duty of cooperation in good faith and an obligation to exchange information. Where procedures are implemented pursuant to Article 2, letters a to c, to wind up entities which are not subject to direct supervision by the European Central Bank in accordance with Article 6(4) of Council Regulation [...] conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions, the national resolution authorities and the Board shall be required to exchange information.
Amendment 924 #
2013/0253(COD)
Proposal for a regulation
Article 65 – paragraph 1
Article 65 – paragraph 1
1. In a period no longer than 10 years after the entry into force of this Regulation, the available financial means of the Fund shall reach at least 1.5% of the amount of deposits of all credit institutions authoriscovered inby the participating Member Statesis Regulation which are guaranteed under Directive 94/19/EC.
Amendment 943 #
2013/0253(COD)
Proposal for a regulation
Article 66 – paragraph 1 – subparagraph 1
Article 66 – paragraph 1 – subparagraph 1
The individual contribution of each institution shall be raised at least annually and shall be calculated pro-rata to the amount of its liabilities excluding own funds and covered deposits, with respect to the total liabilities, excluding own funds and covered deposits, of all the institutions authorisedsubject to this Regulation as referred to in Article 2 in the territories of the participating Member States.
Amendment 947 #
2013/0253(COD)
Proposal for a regulation
Article 66 – paragraph 1 a (new)
Article 66 – paragraph 1 a (new)
1a. Liabilities of a credit institution are excluded from the calculation of contributions where the credit institution has been set up by a Member State's central or regional government or local authority and that government or authority has an obligation to protect the economic basis of the institution and maintain its viability throughout its lifetime or the liabilities are explicitly guaranteed by that government or authority or at least 90% of the loans granted by the institution are directly or indirectly guaranteed by that government or authority and the predominant purpose is to fund promotional loans granted on a non-competitive, not-for-profit basis in order to promote that government's public policy objectives;
Amendment 965 #
2013/0253(COD)
Proposal for a regulation
Article 67 – paragraph 1
Article 67 – paragraph 1
1. Where the available financial means are not sufficient to cover the losses, costs or other expenses incurred by the use of the Fund, the Board shall raise in accordance with Article 62 extraordinary ex post contributions from the institutions authorisedsubject to this Regulation as referred to in Art. 2 in the territories of participating Member States, in order to cover the additional amounts. These extraordinary contributions shall be allocated between institutions in accordance with the rules set out in Article 66.
Amendment 1002 #
2013/0253(COD)
Proposal for a regulation
Article 73 – paragraph 3
Article 73 – paragraph 3
3. Before deciding, in accordance with paragraph 1 of this ArticlIn order to enable it carry out its depositor protection role properly, the deposit guarantee scheme which is liable pursuant to paragraph 1 shall be involved from an early stage in the preparation and implementation of the resolution measures. The Board shall determine in accordance with paragraph 1 of this Article, and in consultation with the deposit guarantee scheme, the amount by which the deposit guarantee scheme is liable in compliance with the conditions established in Article 39(3)(d) of Directive [ ], the Board shall consult the deposit guarantee scheme concerned, having full regard to the urgency of the matter.
Amendment 282 #
2013/0139(COD)
Proposal for a directive
Article 4 – paragraph 1 – subparagraph 1a (new)
Article 4 – paragraph 1 – subparagraph 1a (new)
In the event of a change to the fees to be paid, payment service providers shall inform consumers of the reason for, and amount of, the change in writing.
Amendment 310 #
2013/0139(COD)
Proposal for a directive
Article 4 – paragraph 6
Article 4 – paragraph 6
6. The fee information document and the glossary shall be made available free of charge at all times by payment service providers on a durable medium at premises accessible to consumers and shall be made available in electronic form on their websites, where it must be easy to find.
Amendment 340 #
2013/0139(COD)
Proposal for a directive
Article 5 – paragraph 2 – point c a (new)
Article 5 – paragraph 2 – point c a (new)
(ca) the overdraft interest rate and the total amount of overdraft interest paid during the relevant period.
Amendment 378 #
2013/0139(COD)
Proposal for a directive
Article 7 – paragraph 2 – point a
Article 7 – paragraph 2 – point a
(a) be operationally independent of any payment service provider;
Amendment 384 #
2013/0139(COD)
Proposal for a directive
Article 7 – paragraph 2 – point c
Article 7 – paragraph 2 – point c
(c) provide up-to-date, accurate, reliable and consumer-friendly information;
Amendment 402 #
2013/0139(COD)
Proposal for a directive
Article 8 – paragraph 1
Article 8 – paragraph 1
1. Member States shall ensure that when a payment account is offered together with another service or product as part of a package, the payment service provider informs the consumer of whetherin an appropriate time prior to entering into a contract for a payment account that it is possible to buy the payment account separately and provides separate information regarding the costs and fees associated with each of the products and services offered in the package.
Amendment 432 #
2013/0139(COD)
Proposal for a directive
Article 10 – paragraph 3 – introductory part
Article 10 – paragraph 3 – introductory part
3. Within one businessa maximum of two bank working days from the receipt of the authorisation referred to in paragraph 2, the receiving payment service provider shall request the transferring payment service provider to carry out the following tasks:
Amendment 447 #
2013/0139(COD)
Proposal for a directive
Article 10 – paragraph 3 – point d
Article 10 – paragraph 3 – point d
(d) where the transferring payment service provider does not provide a system for automated redirection of the standing orders and direct debits to the account held by the consumer with the receiving payment service provider, cancel standing orders and stop accepting direct debits on the date specified in the authorisation, but at the earliest from the day of execution, which allows a lead time of five bank working days from receipt of the request by the transferring payment service provider;
Amendment 516 #
2013/0139(COD)
Proposal for a directive
Article 13 – paragraph 2
Article 13 – paragraph 2
2. The information shall be provided free of charge on a durable medium at all branches of the payment service providers accessible to consumers and be available and easily findable in electronic form on their websites at all times.
Amendment 523 #
2013/0139(COD)
Proposal for a directive
Article 14 – paragraph 1
Article 14 – paragraph 1
Member States shall ensure that consumers legally resident in the Union are not discriminated against, in particular by reason of their nationality or place of residence when applying for or accessing a payment account within the Union.
Amendment 532 #
2013/0139(COD)
Proposal for a directive
Article 15 – paragraph 1
Article 15 – paragraph 1
1. Member States shall ensure that at least one payment service provider in their territorys who operate branches or establishments in the respective territory and whose product range includes, in principle, payment accounts with features as specified in Article 16, offers a payment account with basic features to consumers. Member States shall ensure that payment accounts with basic features are not only offered by payment service providers that provide the account solely with online banking facilities. Member States may exempt payment service providers operating on a non- profit basis, or requiring membership on defined criteria, such as profession, from the requirements set out in paragraph 1.
Amendment 541 #
2013/0139(COD)
Proposal for a directive
Article 15 – paragraph 1 a (new)
Article 15 – paragraph 1 a (new)
1a. Member States may exempt payment service providers operating on a non- profit basis, or requiring membership on defined criteria, such as profession, from the requirements set out in paragraph 1.
Amendment 550 #
2013/0139(COD)
Proposal for a directive
Article 15 – paragraph 2
Article 15 – paragraph 2
2. Member States shall ensure that consumers legally resident in the Union and persons whose expulsion is impossible for reasons of fact or of law and who have no residence permit have the right to open and use a payment account with basic features with the payment service provider or providers identified pursuant to paragraph 1. Such a right shall apply irrespective of the consumer’s place of residence. Member States shall ensure that the exercise of the right is not made excessively difficult or burdensome for the consumer. Before opening the payment account with basic features, payment service providers shall verify whether the consumer holds or does not hold a payment account in their territon active and equivalent payment account with access to all the features listed in Article 16 in their territory. Such verification shall take account of the information provided by the consumer. The payment service provider may not confine himself exclusively to information from credit bureaus where the consumer provides valid reasons for contradicting an existing entry.
Amendment 551 #
2013/0139(COD)
Proposal for a directive
Article 15 – paragraph 2
Article 15 – paragraph 2
2. Member States shall ensure that consumers legally resident in the Union and persons whose expulsion is not possible for reasons of fact or of law and who have not been issued with a residence permit have the right to open and use a payment account with basic features with the payment service provider or providers identified pursuant to paragraph 1. Such a right shall apply irrespective of the consumer’s place of residence. Member States shall ensure that the exercise of the right is not made excessively difficult or burdensome for the consumer. Before opening the payment account with basic features, payment service providers shall verify whether the consumer holds or does not hold a payment account in their territory.
Amendment 564 #
2013/0139(COD)
Proposal for a directive
Article 15 – paragraph 3 – point a
Article 15 – paragraph 3 – point a
(a) Where a consumer already holds a payment account, with a payment service provider located in their territory, which allows him to make use of the payment services listed in Article 176(1);
Amendment 587 #
2013/0139(COD)
Proposal for a directive
Article 15 – paragraph 4
Article 15 – paragraph 4
4. Member States shall ensure that, in the cases indicated in paragraph 3, the payment service provider immediately informs the consumer of the specific reasons for the refusal, in writing and free of charge, unless such disclosure would be contrary to the objectives of national security or public policy. The written notification shall include information for the consumer regarding possible channels of appeal or consultation services available to him should he wish to contest the refusal. If several channels of appeal or consultation services are available in a Member State, the notification shall inform him of at least one channel of appeal or consultation service available to him free of charge or at a reasonable fee.
Amendment 590 #
2013/0139(COD)
Proposal for a directive
Article 15 – paragraph 4 a (new)
Article 15 – paragraph 4 a (new)
4a. Consumers already holding a payment account in the corresponding Member State shall also be able to switch to a basic payment account using the switching service provided in Article 10.
Amendment 605 #
2013/0139(COD)
Proposal for a directive
Article 16 – paragraph 1 – point c
Article 16 – paragraph 1 – point c
(c) services enabling cash withdrawals within the Union from a payment account at branch offices and at cash dispensers both during and outside business hours;
Amendment 621 #
2013/0139(COD)
Proposal for a directive
Article 16 – paragraph 1 – point d – point 3
Article 16 – paragraph 1 – point d – point 3
(3) credit transfers and standing orders at bank branch terminals or branch offices and on the online banking system currently used by the bank concerned.
Amendment 643 #
2013/0139(COD)
Proposal for a directive
Article 17 – paragraph 1
Article 17 – paragraph 1
1. Member States shall ensure that the services indicated in Article 16 are offered by payment service providers free of charge or for a reasonablenominal fee.
Amendment 648 #
2013/0139(COD)
Proposal for a directive
Article 17 – paragraph 2 a (new)
Article 17 – paragraph 2 a (new)
2a. In the cases where services indicated in Article 16 are not offered free of charge, Member States shall also ensure that competent authorities establish an upper limit for the total amount of the nominal fees charged in a year by a payment service provider to the consumer.
Amendment 659 #
2013/0139(COD)
Proposal for a directive
Article 18 – paragraph 2 – introductory part
Article 18 – paragraph 2 – introductory part
2. The payment service provider may unilaterally terminate a framework contract only where at least one of the following conditions is met:
Amendment 668 #
2013/0139(COD)
Proposal for a directive
Article 18 – paragraph 2 – point b
Article 18 – paragraph 2 – point b
(b) there has been no transaction on the account for more than 124 consecutive months;
Amendment 673 #
2013/0139(COD)
Proposal for a directive
Article 18 – paragraph 2 – point d
Article 18 – paragraph 2 – point d
(d) the consumer is no longer legally president in the Union or has subsequently opened a second payment account in the Member State where he already holds a payment account with basic features.
Amendment 675 #
2013/0139(COD)
Proposal for a directive
Article 18 – paragraph 2 – point d a (new)
Article 18 – paragraph 2 – point d a (new)
(da) the actions of the consumer are such as to constitute a flagrantly unacceptable threat or disturbance to the staff or other clientele of the credit institution.
Amendment 693 #
2013/0139(COD)
Proposal for a directive
Article 19 – paragraph 2
Article 19 – paragraph 2
2. Member States shall ensure that payment service providers actively make available to consumers information about the specific features of the payment account with basic features on offer, their associated fees and their conditions of use in writing and on their websites in easily accessible form. Member States shall also ensure that the consumer is informed that the purchase of additional services is not compulsory to access a payment account with basic features.
Amendment 716 #
2013/0139(COD)
Proposal for a directive
Article 26 – paragraph 1 – introductory part
Article 26 – paragraph 1 – introductory part
Member States shall provide the Commission with information on the following matters for the first time within 3 years from entry into force of this Directive and every 2 yearsannually thereafter:
Amendment 47 #
2013/0080(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) It can be significantly more efficient for electronic communications network operators, in particular new entrants, to re- use existing physical infrastructures, including those of other utilities, in order to roll-out electronic communications networks, in particular in areas where no suitable electronic communications network is available or where it may not be economically feasible to build-up a new physical infrastructure. Moreover, synergies across sectors may significantly reduce the need for civil works due to the deployment of electronic communications networks and therefore also the social and environmental costs linked to them, such as pollution, nuisances and traffic congestion. Therefore this Regulation should be applicable not only to electronic communications network providers but to any owner or holder of rights to use extensive and ubiquitous physical infrastructures suitable to host electronic communications network elements, such as physical networks for the provision of electricity, gas, water and sewage, heating and transport services.
Amendment 60 #
2013/0080(COD)
Proposal for a regulation
Recital 16
Recital 16
(16) In the event of disagreement in commercial negotiation on technical and commercial terms and conditions each party should be able to call on a dispute resolution body at national level to impose a solution to the parties, in order to avoid unjustified refusals to deal or the imposition of unreasonable conditions. When determining prices for granting access, the dispute resolution body should take into account the investments made on the physical infrastructure and all additional costs entailed in enabling the access. In the specific case of access to physical infrastructures of electronic communications network operators, the investments made in this infrastructure may directly contribute to the objectives of the Digital Agenda for Europe and downstream competition may be influenced by free-riding. Hence, any access obligation should take into account the economic viability of these investments based on any time schedule for the return on investment, any impact of access on downstream competition, any depreciation of the network assets at the time of the access request, any business case underpinning the investment done, in particular in recently built physical infrastructures used for the provision of high-speed electronic communications services, and any possibility offered to the access seeker to co-deploy.
Amendment 73 #
2013/0080(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point 1
Article 2 – paragraph 2 – point 1
(1) ‘network operator’ means an electronic communications network provider as well as an undertaking providing a physical infrastructure intended to provide: a service of production, transport or distribution of gas, or electricity, including public lighting, heating, water, including disposal or treatment of waste water and sewage;; or transport services, including railways, roads, ports and airports;
Amendment 75 #
2013/0080(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point 2
Article 2 – paragraph 2 – point 2
(2) "‘physical infrastructure"’ means any element of a network which is not active, such as pipes, masts, ducts, inspection chambers, manholes, cabinets, buildings or entries to buildings, antenna installations, towers and poles and their associated facilities, with the exception of pipes for the transportation of water (including for waste water and sewage treatment and disposal) and for heating;
Amendment 95 #
2013/0080(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 1 – point d
Article 3 – paragraph 3 – subparagraph 1 – point d
(d) the risk of seriousclear interferences of the planned electronic communications services with the provision of other services over the same physical infrastructure;
Amendment 110 #
2013/0080(COD)
Proposal for a regulation
Article 3 – paragraph 5 a (new)
Article 3 – paragraph 5 a (new)
(5a) Measures relating to the shared use of the infrastructure may be implemented only by or on behalf of the relevant network operator.
Amendment 136 #
2013/0080(COD)
Proposal for a regulation
Article 4 – paragraph 5
Article 4 – paragraph 5
(5) Upon specific written request of an undertaking authorised to provide electronic communications networks, network operators shall meet reasonable requests for in-site surveys of specific elements of their physical infrastructure. The request shall specify the elements of the network concerned in view of deploying elements of high-speed electronic communications networks. In- site surveys of the specified network elements shall be granted under proportionate, non-discriminatory and transparent terms within one month from the written request, without prejudice to limitations pursuant to paragraph 1. The party making the request shall bear all costs entailed in organising and carrying out the in-site survey.
Amendment 45 #
2013/0025(COD)
Proposal for a directive
Recital 13
Recital 13
(13) The use of the gambling sector to launder the proceeds of criminal activity is of concern. In order to mitigate the risks related to the sector and to provide parity amongst the providers of gambling services, an obligation for all providers of gambling services to conduct customer due diligence for single transactions of EUR 2 000 or more should be laid down. Within the scope of a risk-based approach, it should, however, be possible to exempt individual gambling service providers from customer due diligence if it can be proven that the risk of money laundering and terrorist financing is non-existent or negligible. Member States should consider applying this threshold to the collection of winnings as well as wagering a stake. Providers of gambling services with physical premises (e.g. casinos and gaming houses) should ensure that customer due diligence, if it is taken at the point of entry to the premises, can be linked to the transactions conducted by the customer on those premises.
Amendment 92 #
2013/0025(COD)
Proposal for a directive
Article 3 – paragraph 1 – point 5 – point a – point i – introductory part
Article 3 – paragraph 1 – point 5 – point a – point i – introductory part
(i) the natural person(s) who ultimately owns or controls a legal entity through direct or indirect ownership or control over a sufficient percentage of the shares or voting rights in that legal entity, including through bearer share holdings, other than a company listed on a regulated market that is subject to disclosure requirements consistent with European Union legislation or subject to equivalent international standardsDoes not affect the EN version.
Amendment 95 #
2013/0025(COD)
Proposal for a directive
Article 3 – paragraph 1 – point 5 – point a – point i – paragraph 1
Article 3 – paragraph 1 – point 5 – point a – point i – paragraph 1
Amendment 99 #
2013/0025(COD)
Proposal for a directive
Article 3 – paragraph 1 – point 7 – point f
Article 3 – paragraph 1 – point 7 – point f
(b) "domestic politically exposed persons" means natural persons who are or who have been entrusted by a Member State with prominent publicimportant political, commercial, industrial or administrative functions;
Amendment 100 #
2013/0025(COD)
Proposal for a directive
Article 3 – paragraph 1 – point 7 – point d – introductory part
Article 3 – paragraph 1 – point 7 – point d – introductory part
(d) "natural persons who are or have been entrusted with prominent publicimportant political, commercial, industrial or administrative functions" shall include the following:
Amendment 101 #
2013/0025(COD)
Proposal for a directive
Article 3 – paragraph 1 – point 7 – point d – point vi
Article 3 – paragraph 1 – point 7 – point d – point vi
(vi) members of the administrative, management or supervisory bodies of State owned enterpriseand private enterprises and all types of foundations and other religious and secular associations and establishments.
Amendment 102 #
2013/0025(COD)
Proposal for a directive
Article 3 – paragraph 1 – point 7 – point e – point iii a (new)
Article 3 – paragraph 1 – point 7 – point e – point iii a (new)
(iiia) the children of the spouse or of any partner considered as equivalent to the spouse;
Amendment 111 #
2013/0025(COD)
Proposal for a directive
Article 6 – paragraph 1 a (new)
Article 6 – paragraph 1 a (new)
1a. For the purposes of paragraph 1, Europol shall submit an opinion on the money laundering and terrorist financing risks affecting the internal market within one year from the date of entry into force of this Directive.
Amendment 113 #
2013/0025(COD)
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 1
Article 6 – paragraph 1 – subparagraph 1
The Commission shall submit a report on the money laundering and terrorist financing risks affecting the internal market to the European Parliament and the Council within 18 months from the date of entry into force of this Directive. The Commission’s report shall cover at least the following aspects: a) identification of the areas of the internal market at greater risk of money laundering and terrorist financing; b) money laundering and terrorist financing risks outside the financial sector; c) the role of EUR 500 notes in criminal activities and money laundering and the impact of a possible discontinuation of the issuing of EUR 500 notes in the eurozone; d) risks related to gambling services. For the purposes of subparagraph 1, the European Banking Authority (hereinafter "EBA"), European Insurance and Occupational Pensions Authority (hereinafter "EIOPA") and European Securities and Markets Authority (hereinafter "ESMA") shall provide a joint opinion on the money laundering and terrorist financing risks affecting the internal market.
Amendment 115 #
2013/0025(COD)
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 2
Article 6 – paragraph 1 – subparagraph 2
The opinion shall be provided within 2one years from the date of entry into force of this Directive.
Amendment 118 #
2013/0025(COD)
Proposal for a directive
Article 6 – paragraph 2
Article 6 – paragraph 2
2. The Commission shall make the opinions referred to in paragraph 1, subparagraphs 2 and 1a(new) available to assist Member States and obliged entities to identify, manage and mitigate the risk of money laundering and terrorist financing.
Amendment 131 #
2013/0025(COD)
Proposal for a directive
Recital 13
Recital 13
(13) The use of the gambling sector to launder the proceeds of criminal activity is of concern. In order to mitigate the risks related to the sector and to provide parity amongst the providers of gambling services, an obligation for all providers of gambling services to conduct customer due diligence for single transactions of EUR 2 000 or more should be laid down. Within the scope of a risk-based approach, it should, however, be possible to exempt individual gambling service providers from customer due diligence if it can be proven that the risk of money laundering and terrorist financing is non-existent or negligible. Member States should consider applying this threshold to the collection of winnings as well as wagering a stake. Providers of gambling services with physical premises (e.g. casinos and gaming houses) should ensure that customer due diligence, if it is taken at the point of entry to the premises, can be linked to the transactions conducted by the customer on those premises.
Amendment 133 #
2013/0025(COD)
Proposal for a directive
Article 7 – paragraph 3
Article 7 – paragraph 3
3. In carrying out the assessments referred to in paragraph 1, Member States may make useshall take account of the opinions referred to in Article 6(1), subparagraphs 2 and 1a(new), and the Commission’s assessment referred to in Article 6(1) and shall inform the Commission, where appropriate, of any variations noticed when carrying out the assessments referred to in paragraph 1.
Amendment 135 #
2013/0025(COD)
Proposal for a directive
Article 7 – paragraph 4 – point a a (new)
Article 7 – paragraph 4 – point a a (new)
(aa) identify, where appropriate, areas at negligible, lower and greater risk of money laundering and terrorist financing;
Amendment 136 #
2013/0025(COD)
Proposal for a directive
Article 7 – paragraph 4 – point b a (new)
Article 7 – paragraph 4 – point b a (new)
(ba) use the assessment(s) to ensure that appropriate rules be drawn up for each area, in accordance with the risk of money laundering;
Amendment 137 #
2013/0025(COD)
Proposal for a directive
Article 7 – paragraph 4 – point c
Article 7 – paragraph 4 – point c
(c) make appropriatethe required information available to obliged entities to carry out their own money laundering and terrorist financing risk assessments and develop appropriate policies, controls and procedures to mitigate and manage risks.
Amendment 138 #
2013/0025(COD)
Proposal for a directive
Article 7 – paragraph 5
Article 7 – paragraph 5
5. Member States shall make the results of their risk assessments available to the other Member States, the Commission, and EBA, EIOPA and ESMA upon request.
Amendment 139 #
2013/0025(COD)
Proposal for a directive
Article 8 – paragraph 3
Article 8 – paragraph 3
3. Member States shall ensure that obliged entities have policies, controls and procedures to mitigate and manage effectively the money laundering and terrorist financing risks identified at Union level, Member State level, and at the level of obliged entities. Policies, controls and procedures should be proportionate to the nature and size of those obliged entities and the risk of money laundering and terrorist financing.
Amendment 142 #
2013/0025(COD)
Proposal for a directive
Article 8 – paragraph 4 – subparagraph 1 (new)
Article 8 – paragraph 4 – subparagraph 1 (new)
Should the nature and size of an obliged entity prevent it from meeting the requirements referred to in paragraph 4 and/or if the risk of money laundering and terrorist financing is negligible, Member States may lay down requirements which are less stringent than those set out in paragraph 4. Member States shall inform the Commission accordingly.
Amendment 146 #
2013/0025(COD)
Proposal for a directive
Article 10 – paragraph 1 – point b
Article 10 – paragraph 1 – point b
(b) when carrying out occasional transactions amounting to EUR 15 000 or more, whether the transaction is carried out in a single operation or in several operations which appear to be linked;
Amendment 147 #
2013/0025(COD)
Proposal for a directive
Article 10 – paragraph 1 – point c
Article 10 – paragraph 1 – point c
(c) for natural or legal persons trading in goods, when carrying out occasional transactions in cash amounting to EUR 7 500 or more, whether the transaction is carried out in a single operation or in several operations which appear to be linked;
Amendment 152 #
2013/0025(COD)
Proposal for a directive
Article 10 – paragraph 1 – point d
Article 10 – paragraph 1 – point d
(d) for providers of gambling services, when carrying out occasional transactions amounting to EUR 2 000 or more, whether the transaction is carried out in a single operation or in several operations which appear to be linked;
Amendment 156 #
2013/0025(COD)
Proposal for a directive
Article 11 – paragraph 1 – point d
Article 11 – paragraph 1 – point d
(d) conducting ongoing monitoring of the business relationship including scrutiny of transactions undertaken throughout the course of that relationship to ensure that the transactions being conducted are consistent with the institution's or person's knowledge of the customer, the business and risk profile, including, where necessary, the source of funds and ensuring that the documents, data or information held are kept up-to-date.
Amendment 159 #
2013/0025(COD)
Proposal for a directive
Article 12 a (new)
Article 12 a (new)
Article 12a 1. Where a Member State or an obliged entity identifies areas of no or negligible risk, that Member State may absolve obliged entities from customer due diligence measures. The exemption shall be justified and limited to certain business activities and/or certain obliged entities. 2. The Member State shall inform the Commission accordingly.
Amendment 163 #
2013/0025(COD)
Proposal for a directive
Article 13 – paragraph 2
Article 13 – paragraph 2
Amendment 164 #
2013/0025(COD)
Proposal for a directive
Article 13 – paragraph 3
Article 13 – paragraph 3
3. Member States shall ensure that obliged entities carry out sufficient monitoring of the transactions or business relationships to enable the detection of unusual or suspicious transactions.
Amendment 166 #
2013/0025(COD)
Proposal for a directive
Article 13 – paragraph 3 a (new)
Article 13 – paragraph 3 a (new)
3a. The Member States shall draw up guidelines on the minimum action to be taken by obliged entities, with the exception of the entities referred to in Article 2(1)(1) and (2), in cases in which simplified customer due diligence is appropriate.
Amendment 169 #
2013/0025(COD)
Proposal for a directive
Article 15 – paragraph 1
Article 15 – paragraph 1
EBA, EIOPA and ESMA shall issue guidelines addressed to competent authorities and the obliged entities referred to in Article 2(1)(1) and (2) in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010, on the risk factors to be taken into consideration and/or the measures to be taken in situations where simplified due diligence measures are appropriate. Specific account should be taken of the nature and size of the business, and where appropriate and proportionate, specific measures should be foreseen. Theose guidelines shall be issued within 2 year18 months of the date of entry into force of this Directive.
Amendment 173 #
2013/0025(COD)
Proposal for a directive
Article 16 – paragraph 4
Article 16 – paragraph 4
4. EBA, EIOPA and ESMA shall issue guidelines addressed to competent authorities and the obliged entities referred to Article 2(1)(1) and (2) in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010 on the risk factors to be taken into consideration and/or the measures to be taken in situations where enhanced due diligence measures need to be applied. Theose guidelines shall be issued within 2 year18 months of the date of entry into force of this Directive.
Amendment 176 #
2013/0025(COD)
Proposal for a directive
Article 19 – paragraph 1 – introductory part
Article 19 – paragraph 1 – introductory part
In respect of transactions or business relationships with domestic politically exposed persons or a person who is or has been entrusted with a prominent function by an international organisation, Member States shall, in addition to the customer due diligence measures set out in Article 11, require obliged entities:
Amendment 177 #
2013/0025(COD)
Proposal for a directive
Article 20 – paragraph 1 – introductory part
Article 20 – paragraph 1 – introductory part
Obliged entities shall take reasonable measures to determine whether the beneficiaries of a life or other investment related insurance policy and/or, where required, the beneficial owner of the beneficiary are politically exposed persons. Those measures shall be taken at the latest at the time of the payout or at the time of the assignment, in whole or in part, of the policy. Where there are higher risks identified, in addition to taking normal customer due diligence measures, Member States shall require obliged entities to:
Amendment 178 #
2013/0025(COD)
Proposal for a directive
Article 21 – paragraph 1
Article 21 – paragraph 1
The measures referred to in Articles 18, 19 and 20 shall also apply to family members or persons known to be close associates of such politically exposed persons.
Amendment 179 #
2013/0025(COD)
Proposal for a directive
Article 22 – paragraph 1
Article 22 – paragraph 1
Where a person referred to in Articles 18, 19 and 20 has ceased to be entrusted with a prominent public functionost by a Member State or a third country or with a prominent function by an international organisation, obliged entities shall be required to consider the continuing risk posed by that person and to apply such appropriate and risk-sensitive measures until such time as that person is deemed to pose no further risk. This period of time shall not be less than 18 months.
Amendment 180 #
2013/0025(COD)
Proposal for a directive
Article 25 – paragraph 2
Article 25 – paragraph 2
2. The Member StatesCommission shall consider information available on the level of geographical risk when deciding if a third country meets the conditions laid down in paragraph 1 and shall inform eachthe other, the Commission Member States, the obliged entities and EBA, EIOPA and ESMA to the extent relevant for the purposes of this Directive and in accordance with the relevant provisions of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010, of cases where they consider that a third country meets such conditions.
Amendment 187 #
2013/0025(COD)
Proposal for a directive
Article 29 – paragraph 1 a (new)
Article 29 – paragraph 1 a (new)
1a. Member States shall ensure that central registers, commercial registers or company registers within their territory contain information about the beneficial owners of (a) companies of all legal forms, (b) other legal persons, such as foundations, (c) legal arrangements, such as trusts, through which funds are administered or distributed, and (d) express trusts governed by their law established within their territory, enabling the beneficial owners to be clearly identified. The information referred to in paragraphs 1 and 1a shall be updated continuously and without delay in the respective register.
Amendment 192 #
2013/0025(COD)
Proposal for a directive
Article 29 – paragraph 2
Article 29 – paragraph 2
2. Member States shall ensure that the information referred to in paragraphs 1 and 1a of this Article can be accessed in a timely mannerwithout delay by competent authorities and by obliged entities of all Member States in the respective register and that they can check the correctness of the information.
Amendment 194 #
2013/0025(COD)
Proposal for a directive
Article 29 – paragraph 2 a (new)
Article 29 – paragraph 2 a (new)
2a. Member States shall ensure that access to the information referred to in paragraphs 1 and 1a is provided by means of the European platform, the portal and optional access points established by the Member States pursuant to Directive 2012/17/EU. Member States, with the support of the Commission, shall ensure that their central, commercial and company registers are interoperable within the system of register networking through the European platform.
Amendment 198 #
2013/0025(COD)
Proposal for a directive
Article 29 – paragraph 2 b (new)
Article 29 – paragraph 2 b (new)
2b. The Commission shall submit to the European Parliament and the Council within three years after the entry into force of this Directive a report on the application and mode of functioning of the requirements pursuant to paragraphs 1, 1a, 2 and 2a, if appropriate accompanied by a legislative proposal.
Amendment 209 #
2013/0025(COD)
Proposal for a directive
Article 30 – paragraph 3
Article 30 – paragraph 3
3. Member States shall ensure that the information referred to in paragraph 1 of this Article can be accessed in a timely manner by competent authorities and by obliged entities of all Member States and that they can check the correctness of the information.
Amendment 210 #
2013/0025(COD)
Proposal for a directive
Article 3 – paragraph 1 – point 5 – point a – point i – introductory part
Article 3 – paragraph 1 – point 5 – point a – point i – introductory part
Amendment 216 #
2013/0025(COD)
Proposal for a directive
Article 3 – paragraph 1 – point 5 – point a – point i – paragraph 1
Article 3 – paragraph 1 – point 5 – point a – point i – paragraph 1
Amendment 225 #
2013/0025(COD)
Proposal for a directive
Article 3 – paragraph 1 – point 7 – point b
Article 3 – paragraph 1 – point 7 – point b
(f) "‘domestic politically exposed persons"’ means natural persons who are or who have been entrusted by a Member State with prominent publicolitical, commercial or administrative functions;
Amendment 226 #
2013/0025(COD)
Proposal for a directive
Article 3 – paragraph 1 – point 7 – point d – introductory part
Article 3 – paragraph 1 – point 7 – point d – introductory part
(d) "‘natural persons who are or have been entrusted with prominent publicolitical, commercial or administrative functions"’ shall include the following:
Amendment 227 #
2013/0025(COD)
Proposal for a directive
Article 3 – paragraph 1 – point 7 – point d – point vi
Article 3 – paragraph 1 – point 7 – point d – point vi
(vi) members of the administrative, management or supervisory bodies of State -owned enterpriseand private enterprises and all types of foundations and other religious and secular associations and establishments.
Amendment 228 #
2013/0025(COD)
Proposal for a directive
Article 3 – paragraph 1 – point 7 – point e – point iii a (new)
Article 3 – paragraph 1 – point 7 – point e – point iii a (new)
(iiia) the children of the spouse or of any partner considered as equivalent to the spouse;
Amendment 229 #
2013/0025(COD)
Proposal for a directive
Article 43 – paragraph 3
Article 43 – paragraph 3
3. Member States shall ensure that, wherever practicable, timely feedback on the effectiveness of and follow-up to reports of suspected money laundering or terrorist financing is provided to the obliged entities.
Amendment 231 #
2013/0025(COD)
Proposal for a directive
Article 44 – paragraph 3
Article 44 – paragraph 3
3. In respect of the obliged entities referred to in Article 2(1)(3) (a), (b), (d) and (e), Member States shall ensure that competent authorities take the necessary measures to prevent criminals or their associates from holding or being the beneficial owner of a significant or controlling interest, or holding a management function in those obliged entities.
Amendment 246 #
2013/0025(COD)
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 1
Article 6 – paragraph 1 – subparagraph 1
The Commission shall submit a report on the money laundering and terrorist financing risks affecting the internal market to the European Parliament and the Council within 18 months from the date of entry into force of this Directive. The Commission's report shall cover at least the following aspects: a) identification of the areas of the internal market at greater risk of money laundering and terrorist financing; (b) money laundering and terrorist financing risks outside the financial sector; (c) the role of EUR 500 notes in criminal activities and money laundering and the impact of a possible discontinuation of the issuing of EUR 500 notes in the eurozone; (d) risks related to gambling services. For the purposes of subparagraph 1, the European Banking Authority (hereinafter ‘'EBA’'), European Insurance and Occupational Pensions Authority (hereinafter ‘'EIOPA’') and European Securities and Markets Authority (hereinafter ‘'ESMA’') shall provide a joint opinion on the money laundering and terrorist financing risks affecting the internal market. within one year from the date of entry into force of this Directive.
Amendment 252 #
2013/0025(COD)
Proposal for a directive
Article 6 – paragraph 1 – subparagraph 2
Article 6 – paragraph 1 – subparagraph 2
Amendment 257 #
2013/0025(COD)
Proposal for a directive
Article 6 – paragraph 1 a (new)
Article 6 – paragraph 1 a (new)
1a. For the purposes of paragraph 1, Europol shall submit an opinion on the money laundering and terrorist financing risks affecting the internal market within one year from the date of entry into force of this Directive.
Amendment 257 #
2013/0025(COD)
Proposal for a directive
Article 59 – paragraph 1
Article 59 – paragraph 1
Within fourthree years after the date of entry into force of this Directive, the Commission shall draw up a report on the implementation of this Directive in the individual Member States and submit it to the European Parliament and the Council. The report shall also contain information about the assessment of the risk of money laundering and financing of terrorism, the measures taken by the Member States to reduce the risk, their actual implementation and their effectiveness. For the purposes of subparagraph 1, Member States shall inform the Commission annually what steps they have taken to identify, assess, understand and mitigate the money laundering and terrorist financing risks affecting them. Member States shall make available to the Commission all relevant domestic legal and administrative provisions and information about money laundering methods, the effectiveness of the measures taken and investigations into cases of money laundering and terrorist financing.
Amendment 259 #
2013/0025(COD)
Proposal for a directive
Article 59 – paragraph 1 a (new)
Article 59 – paragraph 1 a (new)
The Commission shall submit to the European Parliament and the Council within one year of the entry into force of this Directive a report on the provisions concerning serious tax offences and punishments in the Member States, on the crossborder significance of tax offences and on the possible need for a coordinated approach in the EU, accompanied if appropriate by a legislative proposal.
Amendment 260 #
2013/0025(COD)
Proposal for a directive
Annex 2 – paragraph 1 – point 3 – point a
Annex 2 – paragraph 1 – point 3 – point a
(a) other EU Member States;
Amendment 261 #
2013/0025(COD)
Proposal for a directive
Article 6 – paragraph 2
Article 6 – paragraph 2
2. The Commission shall make the opinionreport and the opinions referred to in paragraph 1, subparagraphs 2 and 1a(new) available to assist Member States and obliged entities to identify, manage and mitigate the risk of money laundering and terrorist financing.
Amendment 263 #
2013/0025(COD)
Proposal for a directive
Annex 3 – paragraph 1 – point 2 – point c
Annex 3 – paragraph 1 – point 2 – point c
(c) non-face-to-face business relationships or transactions;
Amendment 265 #
2013/0025(COD)
Proposal for a directive
Annex 3 – paragraph 1 – point 2 – point e
Annex 3 – paragraph 1 – point 2 – point e
Amendment 272 #
2013/0025(COD)
Proposal for a directive
Article 7 – paragraph 3
Article 7 – paragraph 3
3. In carrying out the assessments referred to in paragraph 1, Member States may make use ofshall take account of the report and the opinions referred to in Article 6(1) and shall inform the Commission, where appropriate, of any variations noticed when carrying out the assessments referred to in paragraph 1.
Amendment 274 #
2013/0025(COD)
Proposal for a directive
Article 7 – paragraph 4 – point a a (new)
Article 7 – paragraph 4 – point a a (new)
(aa) identify, where appropriate, sectors or areas at negligible, lower and greater risk of money laundering and terrorist financing;
Amendment 275 #
2013/0025(COD)
Proposal for a directive
Article 7 – paragraph 4 – point b a (new)
Article 7 – paragraph 4 – point b a (new)
(ba) use the assessment(s) to ensure that appropriate rules be drawn up for each sector or area, in accordance with the risk of money laundering;
Amendment 276 #
2013/0025(COD)
Proposal for a directive
Article 7 – paragraph 4 – point c
Article 7 – paragraph 4 – point c
(c) make appropriatethe required information available to obliged entities to carry out their own money laundering and terrorist financing risk assessments and develop appropriate policies, controls and procedures to mitigate and manage risks.
Amendment 277 #
2013/0025(COD)
Proposal for a directive
Article 7 – paragraph 5
Article 7 – paragraph 5
5. Member States shall make the results of their risk assessments available to the other Member States, the Commission, and EBA, EIOPA and ESMA upon request.
Amendment 281 #
2013/0025(COD)
Proposal for a directive
Article 8 – paragraph 3
Article 8 – paragraph 3
3. Member States shall ensure that obliged entities have policies, controls and procedures to mitigate and manage effectively the money laundering and terrorist financing risks identified at Union level, Member State level, and at the level of obliged entities. Policies, controls and procedures should be proportionate to the nature and size of those obliged entities and the risk of money laundering and terrorist financing.
Amendment 285 #
2013/0025(COD)
Proposal for a directive
Article 8 – paragraph 4 – subparagraph 1 (new)
Article 8 – paragraph 4 – subparagraph 1 (new)
Should the nature and size of an obliged entity prevent it from meeting the requirements referred to in paragraph 4 and/or if the risk of money laundering and terrorist financing is negligible, Member States may lay down requirements which are less stringent than those set out in paragraph 4. Member States shall inform the Commission accordingly.
Amendment 290 #
2013/0025(COD)
Proposal for a directive
Article 10 – paragraph 1 – point b
Article 10 – paragraph 1 – point b
(b) when carrying out occasional transactions amounting to EUR 15 000 or more, whether the transaction is carried out in a single operation or in several operations which appear to be linked;
Amendment 291 #
2013/0025(COD)
Proposal for a directive
Article 10 – paragraph 1 – point c
Article 10 – paragraph 1 – point c
(c) for natural or legal persons trading in goods, when carrying out occasional transactions in cash amounting to EUR 7 500 or more, whether the transaction is carried out in a single operation or in several operations which appear to be linked;
Amendment 301 #
2013/0025(COD)
Proposal for a directive
Article 10 – paragraph 1 – point d
Article 10 – paragraph 1 – point d
(d) for providers of gambling services, when carrying out occasional transactions amounting to EUR 2 000 or more, whether the transaction is carried out in a single operation or in several operations which appear to be linked;
Amendment 313 #
2013/0025(COD)
Proposal for a directive
Article 11 – paragraph 1 – point d
Article 11 – paragraph 1 – point d
(d) conducting ongoing monitoring of the business relationship including scrutiny of transactions undertaken throughout the course of that relationship to ensure that the transactions being conducted are consistent with the institution's or person's knowledge of the customer, the business and risk profile, including, where necessary, the source of funds and ensuring that the documents, data or information held are kept up-to-date.
Amendment 321 #
2013/0025(COD)
Proposal for a directive
Article 12 a (new)
Article 12 a (new)
Article 12a 1. Where a Member State or an obliged entity identifies areas of no or negligible risk, that Member State may absolve obliged entities from customer due diligence measures. The exemption shall be justified and limited to certain business activities and/or certain obliged entities. 2. The Member State shall inform the Commission accordingly.
Amendment 326 #
2013/0025(COD)
Proposal for a directive
Article 13 – paragraph 2
Article 13 – paragraph 2
Amendment 328 #
2013/0025(COD)
Proposal for a directive
Article 13 – paragraph 3
Article 13 – paragraph 3
3. Member States shall ensure that obliged entities carry out sufficient monitoring of the transactions or business relationships to enable the detection of unusual or suspicious transactions.
Amendment 329 #
2013/0025(COD)
Proposal for a directive
Article 13 – paragraph 3 a (new)
Article 13 – paragraph 3 a (new)
3a. The Member States shall draw up guidelines on the minimum action to be taken by obliged entities, with the exception of the entities referred to in Article 2(1)(1) and (2), in cases in which simplified customer due diligence is appropriate.
Amendment 333 #
2013/0025(COD)
Proposal for a directive
Article 15 – paragraph 1
Article 15 – paragraph 1
EBA, EIOPA and ESMA shall issue guidelines addressed to competent authorities and the obliged entities referred to in Article 2(1)(1) and (2) in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010, on the risk factors to be taken into consideration and/or the measures to be taken in situations where simplified due diligence measures are appropriate. Specific account should be taken of the nature and size of the business, and where appropriate and proportionate, specific measures should be foreseen. Those guidelines shall be issued within 2 year18 months of the date of entry into force of this Directive.
Amendment 337 #
2013/0025(COD)
Proposal for a directive
Article 16 – paragraph 4
Article 16 – paragraph 4
4. EBA, EIOPA and ESMA shall issue guidelines addressed to competent authorities and the obliged entities referred to Article 2(1)(1) and (2) in accordance with Article 16 of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010 on the risk factors to be taken into consideration and/or the measures to be taken in situations where enhanced due diligence measures need to be applied. Those guidelines shall be issued within 2 year18 months of the date of entry into force of this Directive.
Amendment 343 #
2013/0025(COD)
Proposal for a directive
Article 19 – paragraph 1 – introductory part
Article 19 – paragraph 1 – introductory part
In respect of transactions or business relationships with domestic politically exposed persons or a person who is or has been entrusted with a prominent function by an international organisation, Member States shall, in addition to the customer due diligence measures set out in Article 11, require obliged entities:
Amendment 346 #
2013/0025(COD)
Proposal for a directive
Article 20 – paragraph 1 – introductory part
Article 20 – paragraph 1 – introductory part
Obliged entities shall take reasonable measures to determine whether the beneficiaries of a life or other investment related insurance policy and/or, where required, the beneficial owner of the beneficiary are politically exposed persons. Those measures shall be taken at the latest at the time of the payout or at the time of the assignment, in whole or in part, of the policy. Where there are higher risks identified, in addition to taking normal customer due diligence measures, Member States shall require obliged entities to:
Amendment 348 #
2013/0025(COD)
Proposal for a directive
Article 21 – paragraph 1
Article 21 – paragraph 1
The measures referred to in Articles 18, 19 and 20 shall also apply to family members or persons known to be close associates of such politically exposed persons.
Amendment 351 #
2013/0025(COD)
Proposal for a directive
Article 22 – paragraph 1
Article 22 – paragraph 1
Where a person referred to in Articles 18, 19 and 20 has ceased to be entrusted with a prominent public function by a Member State or a third country or with a prominent function by an international organisation, obliged entities shall be required to consider the continuing risk posed by that person and to apply such appropriate and risk-sensitive measures until such time as that person is deemed to pose no further risk. This period of time shall not be less than 18 months.
Amendment 355 #
2013/0025(COD)
Proposal for a directive
Article 25 – paragraph 2
Article 25 – paragraph 2
2. The Member StatesCommission shall consider information available on the level of geographical risk when deciding if a third country meets the conditions laid down in paragraph 1 and shall inform each other, the Commissionthe Member States, the obliged entities and EBA, EIOPA and ESMA to the extent relevant for the purposes of this Directive and in accordance with the relevant provisions of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010, of cases where they consider that a third country meets such conditions.
Amendment 360 #
2013/0025(COD)
Proposal for a directive
Article 29 – paragraph 1 a (new)
Article 29 – paragraph 1 a (new)
Amendment 372 #
2013/0025(COD)
Proposal for a directive
Article 29 – paragraph 2 a (new)
Article 29 – paragraph 2 a (new)
2a. Member States shall ensure that access to the information referred to in paragraphs 1 and 1a is provided by means of the European platform, the portal and optional access points established by the Member States pursuant to Directive 2012/17/EU. Member States, with the support of the Commission, shall ensure that their central, commercial and company registers are interoperable within the system of register networking through the European platform.
Amendment 379 #
2013/0025(COD)
Proposal for a directive
Article 29 – paragraph 2 b (new)
Article 29 – paragraph 2 b (new)
2b. The Commission shall submit to the European Parliament and the Council within three years after the entry into force of this Directive a report on the application and mode of functioning of the requirements pursuant to paragraphs 1, 1a, 2 and 2a, if appropriate accompanied by a legislative proposal.
Amendment 387 #
2013/0025(COD)
Proposal for a directive
Article 29 – paragraph 2
Article 29 – paragraph 2
2. Member States shall ensure that the information referred to in paragraphs 1 and 1a of this Article can be accessed in a timely mannerwithout delay by competent authorities and by obliged entities of all Member States in the respective register and that they can verify the correctness of the information. Member States shall ensure that the information referred to in paragraphs 1 and 1a of this Article can be accessed by the public.
Amendment 402 #
2013/0025(COD)
Proposal for a directive
Article 30 – paragraph 3
Article 30 – paragraph 3
3. Member States shall ensure that the information referred to in paragraph 1 of this Article can be accessed in a timely manner by competent authorities and by obliged entities of all Member States and that they can verify the correctness of the information. Member States shall ensure that the information referred to in paragraph 1 of this Article can be accessed by the public.
Amendment 464 #
2013/0025(COD)
Proposal for a directive
Article 43 – paragraph 3
Article 43 – paragraph 3
3. Member States shall ensure that, wherever practicable, timely feedback on the effectiveness of and follow-up to reports of suspected money laundering or terrorist financing is provided to the obliged entities.
Amendment 467 #
2013/0025(COD)
Proposal for a directive
Article 44 – paragraph 3
Article 44 – paragraph 3
3. In respect of the obliged entities referred to in Article 2(1)(3) (a), (b), (d) and (e), Member States shall ensure that competent authorities take the necessary measures to prevent criminals or their associates from holding or being the beneficial owner of a significant or controlling interest, or holding a management function in those obliged entities.
Amendment 520 #
2013/0025(COD)
Proposal for a directive
Article 59 – paragraph 1
Article 59 – paragraph 1
Within fourthree years after the date of entry into force of this Directive, the Commission shall draw up a report on the implementation of this Directive in the individual Member States and submit it to the European Parliament and the Council. The report shall also contain information about the assessment of the risk of money laundering and financing of terrorism, the measures taken by the Member States to reduce the risk, their actual implementation and their effectiveness. For the purposes of subparagraph 1, Member States shall inform the Commission annually what steps they have taken to identify, assess, understand and mitigate the money laundering and terrorist financing risks affecting them. Member States shall make available to the Commission all relevant domestic legal and administrative provisions and information about money laundering methods, the effectiveness of the measures taken and investigations into cases of money laundering and terrorist financing.
Amendment 522 #
2013/0025(COD)
Proposal for a directive
Article 59 – paragraph 1 a (new)
Article 59 – paragraph 1 a (new)
The Commission shall submit to the European Parliament and the Council within one year of the entry into force of this Directive a report on the provisions concerning serious tax offences and punishments in the Member States, on the crossborder significance of tax offences and on the possible need for a coordinated approach in the EU, accompanied if appropriate by a legislative proposal.
Amendment 533 #
2013/0025(COD)
Proposal for a directive
Annex 2 – paragraph 1 – point 3 – point a
Annex 2 – paragraph 1 – point 3 – point a
(a) other EU Member States;
Amendment 536 #
2013/0025(COD)
Proposal for a directive
Annex 3 – paragraph 1 – point 2 – point c
Annex 3 – paragraph 1 – point 2 – point c
Amendment 540 #
2013/0025(COD)
Proposal for a directive
Annex 3 – paragraph 1 – point 2 – point e
Annex 3 – paragraph 1 – point 2 – point e
Amendment 57 #
2012/2234(INI)
Draft opinion
Paragraph 11
Paragraph 11
11. Considers that Commission proposals regarding quantitative and qualitative precautionary measures are only of value if they lay stress on taking into accountmust identify the differences between the systems and comply strictly with the principle of proportionality in terms of the financial, administrative and technical burden involved;
Amendment 67 #
2012/2234(INI)
Draft opinion
Paragraph 13
Paragraph 13
13. Is strongly opposed to Europe-wide harmonised requirements concerning own capital or evaluation; therefore fully rejects any review of the Pension Funds Directive (the IORP Directive) which aims to achieve this;
Amendment 75 #
2012/2234(INI)
Draft opinion
Paragraph 14
Paragraph 14
14. Stresses that the application of quantitative Solvency II requirements poses a great risk to pillar 2 systems, since these may, as a result of increased costs, be forced in future to accept lower company pensions or to stop them altogether; emphasises that this is noteither in the interests of employees nor employers; therefore concludes that there must be no provisions at EU level aiming to apply Solvency II to 2nd pillar systems;
Amendment 82 #
2012/2234(INI)
Draft opinion
Paragraph 15
Paragraph 15
15. Considers theRejects any further development of variations tof Solvency II, such as the Holistic Balance Sheet Model (HBS), to be useful only if specific national requirements are complied with and if they are presented as recommendations; categorically rejects these as components of EU-level regulations;
Amendment 85 #
2012/2234(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that first-pillar pensions remain the most important source of income for pensioners; calls on Member States to implement reforms to their first-pillar systems aligning contributory years to the changing ratio between pensioners and people in working age, also to prevent public pension costs crowding out other important government spendingnd to align the statutory retirement age to the actual number of contribution years instead of a fix age; calls on the Member States to ensure first- pillar pensions −- if necessary complemented by minimum income provisions −- to provide a decent minimum income;
Amendment 127 #
2012/2234(INI)
Motion for a resolution
Paragraph 4 – point ii
Paragraph 4 – point ii
ii. a funded, employment-related, mandatory collective second-pillar pension, preferably governed by (sectoral) social partners;
Amendment 170 #
2012/2234(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Welcomes the main thrust of the White Paper that suggests focusing on: balancing time spent in work and retirement; developing complementary occupational and private pension savings, and enhancing the EU's pension monitoring tools; stresses that such measures should always be in compliance with the principle of subsidiary to accommodate the characteristics of occupational pension systems.
Amendment 180 #
2012/2234(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses that implementing structural reforms aimed at having people work more and longer is the only feasible way to generate the tax revenues and social and plabour market reforms to create good employment is the only feasible way to create incentives for self-determined management of working life; draws attenstion premiums needed to consolidate Member State budgets and to fund adequate, safe and sustainable pension schemes; points to the risk of, in this context, to the importance of active, healthy ageing and lifelong learning; stresses the risk of unemployment, low-wage jobs and part- time work, which leading to only partial pension entitlementspoverty in old age; calls on the Member States to put funds aside to combat the rising public costs of the retiring populationunemployment and precarious terms of employment;
Amendment 224 #
2012/2234(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Calls on the social partners to adopt a life-cycle approach to human resources management and to adapt workplaces; calls on employers to come up with programmes to support active and healthy ageing and to ensure that employees can work longer on a voluntary basis; calls on workers to engage actively in available training opportunities and to keep themselves fit for the labour market at all stages of their working life;
Amendment 268 #
2012/2234(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Regrets the wide dispersion in characteristics and outcomes across Member States' occupational pension schemes as regards access, solidarity, cost- effectiveness, risk and return; welcomes the Commission's intention, in close consultation with the Member States, social partners, the pension industry and other stakeholders, to develop a code of good practice for occupational pension schemes, in compliance with the principle subsidiarity;
Amendment 20 #
2012/2151(INI)
Motion for a resolution
Citation 21 a (new)
Citation 21 a (new)
- having regard to the European Parliament position of 5 July 2011 on the proposal for a directive of the European Parliament and of the Council amending Directive 97/9/EC of the European Parliament and of the Council on investor-compensation schemes (COM(2010)0371 – C7-0174/2010 – 2010/0199(COD))- Schmidt report),
Amendment 121 #
2012/2151(INI)
Motion for a resolution
Recital Q
Recital Q
Q. whereas time is running out and restoring confidence is the main task in order to convince European citizens and enterprises to start investing again in the economy and to create conditions for financial institutions to provide the real economy, once again, with credit on a broad but sound basis;
Amendment 152 #
2012/2151(INI)
Motion for a resolution
Recital W
Recital W
W. whereas it is beyond doubt that the European integration is an irreversible and progressive process if Member States meticulously honour their European engagements;
Amendment 212 #
2012/2151(INI)
Motion for a resolution
Recital AH
Recital AH
AH. whereas the precarious situation of the banking sector in several Member States threatens the public finances and the cost of management of the banking crisis falls too heavily on taxpayers; whereas the existing mechanisms and structures are insufficient to prevent mutual contagion;
Amendment 237 #
2012/2151(INI)
Motion for a resolution
Recital AM
Recital AM
AM. whereas the Union would benefit from proposals that introduce a single European supervisory mechanism for financial institutions, a single European regime for deposit guarantee schemes and a single European regime for recovery and resolution schemes;
Amendment 243 #
2012/2151(INI)
Motion for a resolution
Recital AN
Recital AN
Amendment 250 #
2012/2151(INI)
Motion for a resolution
Recital AN a (new)
Recital AN a (new)
ANa. whereas in order to ensure the necessary confidence in the financial market and stability in a common internal market for financial services, with free movement of capital, well endowed and functioning schemes for deposit guarantees and for crisis management in banking throughout the EU are essential;
Amendment 324 #
2012/2151(INI)
Motion for a resolution
Recital BC
Recital BC
BC. whereas deposit guarantee schemes are only one type of instrument which should guarantee financial stability; whereas they are part of a larger financial safety net consisting of regulation, prudential supervision, crisis management, deposit protection and a lender of last resort;
Amendment 327 #
2012/2151(INI)
Motion for a resolution
Recital BD
Recital BD
BD. whereas deposit guarantee schemes have played an important role during the financial crisis to protect the assets of depositors, maintain financial stability, avoid bank runs and re-gmaintain depositor confidence;
Amendment 339 #
2012/2151(INI)
Motion for a resolution
Recital BF a (new)
Recital BF a (new)
BFa. whereas in order to implement the new financial architecture it is essential to urgently unblock the negotiations on the Deposit Guarantee Schemes and the Investor Compensation Scheme Directive, on which negotiations between the European Parliament and the Council are suspended, despite their crucial importance in providing common mechanisms to resolve banks and guarantee customer deposits;
Amendment 340 #
2012/2151(INI)
Motion for a resolution
Recital BF b (new)
Recital BF b (new)
BFb. whereas for the achievement of a genuine Economic and Monetary Union, which will include concrete proposals on preserving the unity and integrity of the internal market for financial services, progress on these two key pieces of European legislation is urgently needed;
Amendment 348 #
2012/2151(INI)
Motion for a resolution
Recital BG
Recital BG
BG. whereas the introduction of a single European deposit guarantee fund should be the ultimate goal, further increasing the credibility of the scheme; the development of a similar scheme is justified considering the introduction of a European structuregime with functioning deposit guarantee schemes backed by appropriate levels of funding, which there for prudential supervision and a European recovery and resolution frameworke enhance credibility and investor confidence, should be the ultimate goal;
Amendment 356 #
2012/2151(INI)
Motion for a resolution
Recital BH
Recital BH
BH. whereas a single European deposit guarantee scheme should cover all banks within the countries included in the system in order to guarantee a level playing field and avoid deporegime necessitates uniform, common, stringent requirements applicable to all deposit guarantee schemes in the Union in order to achieve the same comprehensive protection and the same stability of deposit guarantee schemes and guarantee a level playing field; whereas only in this way can the preconditions for the requisite flight from uncovered to covered financial institutionsexibility be created so as take sufficient account of specific national circumstances in the financial sector;
Amendment 361 #
Amendment 368 #
2012/2151(INI)
Motion for a resolution
Recital BJ
Recital BJ
BJ. whereas a single European recovery and resolution authority (ERRA)regime should be established, preferably in parallel with the single supervisory mechanism, for restoring the viability of banks in difficulties and resolving non-viable financial institutions;
Amendment 374 #
2012/2151(INI)
Motion for a resolution
Recital BK
Recital BK
Amendment 380 #
2012/2151(INI)
Motion for a resolution
Recital BL
Recital BL
Amendment 384 #
2012/2151(INI)
Motion for a resolution
Recital BM
Recital BM
Amendment 394 #
2012/2151(INI)
Motion for a resolution
Recital BO
Recital BO
BO. whereas progress also must be made to create a single European recovery and resolution fundregime which is essential to guarantee at all times the stability of the financial system and to manage the resolution of financial institutions, whatever their size or nature, while safeguarding public finances;
Amendment 399 #
2012/2151(INI)
Motion for a resolution
Recital BP
Recital BP
BP. whereas, in the Union, it is necessary for the protection of private savings either to keep separate European funds for deposit guarantee and recovery and resolution or, if the funds are merged, to ensure the same stability and resilience as with separate funds;
Amendment 682 #
2012/2151(INI)
Motion for a resolution
Annex – part 1 – point 1.2
Annex – part 1 – point 1.2
Amendment 686 #
2012/2151(INI)
Motion for a resolution
Annex – part 1 – point 1.2 – title
Annex – part 1 – point 1.2 – title
Recommendation 1.2 relating to a European deposit guarantee schemes
Amendment 687 #
2012/2151(INI)
Motion for a resolution
Annex – part 1 – point 1.2 – introductory part
Annex – part 1 – point 1.2 – introductory part
The European Parliament considers that the legislative act to be adopted should aim to regulate as follows:alls on the Commission to do everything possible to ensure that the legislative procedure relating to the Directive on deposit guarantee schemes [recast] can be completed as soon as possible on the basis of the European Parliament’s position of 16 February 2012.
Amendment 717 #
2012/2151(INI)
Motion for a resolution
Annex – part 1 – point 1.3
Annex – part 1 – point 1.3
Amendment 90 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 1 – paragraph 3 – point (a)
Annex – recommendation 1 – paragraph 3 – point (a)
a. Payment service providers operating on a cooperative business model, on a non- profit basis or requiring membership on defined criteria, such as profession.
Amendment 92 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 1 – paragraph 3 – point b
Annex – recommendation 1 – paragraph 3 – point b
Amendment 102 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 2 – paragraph 5
Annex – recommendation 2 – paragraph 5
5. The legislation should ensure that any consumer, that is to say any natural person who is acting for purposes other than his trade, business, craft or profession, legally resident in the Union has the right to open and use a basic bank account with a payment service provider operating in a Member State provided that the consumer does not already hold a basic bank account meeting the requirements of Union legislation as specified in these Recommendations in the territory of that Member State. The existence of other basic bank accounts in other Member States and States outside the Union should not prevent the opening of a basic bank account in such a case.
Amendment 110 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 2 – paragraph 6
Annex – recommendation 2 – paragraph 6
6. The legislation should ensure that it is not unduly burdensome for consumers to demonstrate that they do not already hold a basic bank account in the territory of the Member State concerned, and provide for a declaration by the consumer to that effect during the application process.
Amendment 117 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 2 – paragraph 7
Annex – recommendation 2 – paragraph 7
7. The right to access a basic bank account should apply irrespective of the consumer's nationality or place of residence in the Union. Criteria such as the level or regularity of income, employment, credit history, level of indebtedness, individual situation regarding bankruptcy or future activity of the account or information held by credit bureaus concerning an individual’s financial circumstances should not be taken into account for the opening a basic bank account. Access to a basic bank account should under no circumstances be made conditional on the purchase of other products or services, for instance insurance.
Amendment 157 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 3 – paragraph 16
Annex – recommendation 3 – paragraph 16
16. Any default charges should be affordable and at least as favourable as the provider’s usual pricing policy. The legislation should ensure that the consumer does not bear any fee or penalty arising from circumstances independent of his/her will, such as insufficient funds in his account due to late payment of wages or social benefits.
Amendment 182 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 3 – paragraph 17 – section D
Annex – recommendation 3 – paragraph 17 – section D
Member States may require further functionalities to be included to the basic bank account. Payment service providers should be permitted to, at their own initiative, enlarge the range of functionalities, such as a facility for savings or international money remittances to accounts outside the Union. Access to a basic bank account should not be made conditional on the purchase of such additional services.
Amendment 184 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 4 – paragraph 18
Annex – recommendation 4 – paragraph 18
18. The legislation should aim to make consumers aware about the possibility of opening a basic bank account. Accordingly, it should be accompanied by an ambitious communication strategy both at Union and Member State level and include duties for payment service providers to provide clear information to consumers, including in writing, and to actively provide information about the possibility of a basic bank account.
Amendment 203 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 4 – paragraph 23
Annex – recommendation 4 – paragraph 23
23. Member States should be required to ensure that providers provide national authorities with reliable information annually, at least on the number of basic bank accounts opened, the number of applications for basic bank accounts refused and the grounds for such refusals, the number of terminations of such accounts. Such information should be provided in an aggregated form.
Amendment 209 #
2012/2055(INI)
Proposal for a recommendation
Annex – recommendation 5 – paragraph 26
Annex – recommendation 5 – paragraph 26
26. Member States should be obliged to specify principles for sanctions to be imposed on providers for non-compliance with the basic bank account framework and for infringing obligations to provide information, which ensure that the sanctions constitute a deterrent, and competent authorities should be required and enabled to impose such sanctions . Funds collected via sanctions should be used for the purpose of the legislation to be adopted, for example for financial education or compensatory payments.
Amendment 180 #
2012/2028(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Believes that, in parallel, there is an urgent need to recapitalise the European banking sector and to further complete financial integration in the EU; calls on the Commission to put forward proposals for a single financial supervisory authority to oversee systemic financial institutions, a banking resolution regime; furthermore, calls on the Commission to draw up proposals for an EU strategy for banks, including a recapitalisation fund and an EU-wideffective deposit guarantee schemeystem, and calls on the Commission to ensure that the on-going legislative procedures in this field are completed;
Amendment 126 #
2012/0242(CNS)
Proposal for a regulation
Recital 9
Recital 9
(9) A European banking union should therefore be set up, underpinned by a true single rulebook for financial services for the Single Market as a whole and composed of a single supervisory mechanism, and a commonuniform European regime for deposit insurance schemes and a resolution framework. In view of the close links and interactions between Member States participating in the common currency, the banking union should apply at least to all Euro area Member States. With a view to maintaining and deepening the internal market, and to the extent that this is institutionally possible, the banking union should also be open to the participation of other Member States.
Amendment 149 #
2012/0242(CNS)
Proposal for a regulation
Recital 11
Recital 11
(11) As the Euro area’s central bank with, the ECB possesses extensive expertise in macroeconomic and financial stability issues, the ECB is well placedwhich are required in order to carry out supervisory tasks with a focus on protecting the stability of Europe’s financial system. Indeed in many Member States Central Banks are already responsible for banking supervision. The ECB should therefore be conferred specific tasks concerning policies relating to the supervision of credit institutions within the Euro area.
Amendment 161 #
2012/0242(CNS)
Proposal for a regulation
Recital 12
Recital 12
(12) TUnder the single supervisory mechanism, the ECB should be conferred those specific supervisory tasks which are crucial to ensure a coherent and effective implementation of the Union's policy relating to the prudential supervision of credit institutions, while other tasks should remain with national authorities. The ECB's tasks should include measures taken in pursuance of macro-prudential stability.
Amendment 170 #
2012/0242(CNS)
Proposal for a regulation
Recital 13
Recital 13
(13) Safety and soundness of large banks is essential to ensure the stability of the financial system. However, recent experience shows that smaller banks can also pose a threat to financial stability. Therefore, the ECB should be able to exercise supervisory tasks under the single supervisory mechanism, which should consist of the ECB and the competent national authorities, in relation to all banks of participating Member States.
Amendment 209 #
2012/0242(CNS)
Proposal for a regulation
Recital 17
Recital 17
(17) Compliance with Union rules requiring credit institutions to hold certain levels of capital against risks inherent to the business of credit institutions, to limit the size of exposures to individual counterparties, to publicly disclose information on a credit institutions’ financial situation, to dispose of sufficient liquid assets to withstand situations of market stress, and to limit leverage is a prerequisite for credit institutions’ prudential soundness. The ECB should have the task, under the single supervisory mechanism, to ensure compliance with those rules and to set higher prudential requirements and apply additional measures to credit institutions in the cases specifically set out in Union acts.
Amendment 221 #
2012/0242(CNS)
Proposal for a regulation
Recital 18
Recital 18
(18) Additional capital buffers, including a capital conservation buffer and a countercyclical capital buffer to ensure that credit institutions accumulate during periods of economic growth a sufficient capital base to absorb losses in stressed periods, are key prudential tools to ensure the availability of adequate loss absorbency. The ECB should have the task, under the single supervisory mechanism, to impose such buffers and ensure credit institutions comply with them.
Amendment 228 #
2012/0242(CNS)
Proposal for a regulation
Recital 19
Recital 19
(19) The safety and soundness of a credit institution depend also on the allocation of adequate internal capital, having regard to the risks to which it may be exposed, and on the availability of appropriate internal organisation structures and corporate governance arrangements. The ECB should therefore have the task, under the single supervisory mechanism, to apply requirements ensuring that credit institutions have in place robust governance arrangements, processes and mechanisms, including strategies and processes for assessing and maintaining the adequacy of their internal capital. In case of deficiencies it should also have the task to impose appropriate measures including specific additional own funds requirements, specific publication requirements, and specific liquidity requirements.
Amendment 235 #
2012/0242(CNS)
Proposal for a regulation
Recital 20
Recital 20
(20) Risks for the safety and soundness of a credit institution can arise both at the level of an individual credit institution and at the level of a banking group or of a financial conglomerate. Specific supervisory arrangements to mitigate these risks are important to ensure the safety and soundness of credit institutions. In addition to supervision of individual credit institutions, the ECB's tasks under the single supervisory mechanism should include supervision at the consolidated level, supplementary supervision, supervision of financial holding companies and supervision of mixed financial holding companies.
Amendment 237 #
2012/0242(CNS)
Proposal for a regulation
Recital 21
Recital 21
(21) In order to preserve financial stability, the deterioration of an institution's financial and economic situation must be remedied before that institution reaches a point at which authorities have no other alternative than to resolve it. The ECB should have the task to carry out early intervention actions as defined in relevant Union law. It should however coordinate its early intervention action with the relevant resolution authorities. Pending the conferral of resolution powers on a European bodyreation of a single regime for restructuring and resolution, the ECB should moreover coordinate appropriately with the national authorities concerned to ensure a common understanding about respective responsibilities in case of crises, in particular in the context of the cross border crisis management groups and the future resolution colleges established for these purposes.
Amendment 255 #
2012/0242(CNS)
Proposal for a regulation
Recital 23
Recital 23
(23) TUnder the single supervisory mechanism, the ECB should carry out the tasks conferred on it with a view to ensuring the safety and soundness of credit institutions and the stability of the financial system of the Union and the unity and integrity of the Internal Market, thereby ensuring also the protection of depositors and improving the functioning of the Internal Market, in accordance with the single rulebook for financial services in the Union.
Amendment 279 #
2012/0242(CNS)
Proposal for a regulation
Recital 28
Recital 28
(28) National supervisors have important and long-established expertise in the supervision of credit institutions within their territory and their economic, organisational and cultural specificities. They have established a large body of dedicated and highly qualified staff for these purposes. Therefore, iIn order to ensure high quality European supervision national supervisors should assist the ECB in the preparation and implementation of any acts relating to the exercise of the ECB supervisory tasks. This should include in particular the ongoing day-to- day assessment of a bank's situation and related on site verificationssupervision under the single supervisory mechanism, national supervisors should perform day-to-day supervision for the ECB. This should include in particular the ongoing day-to- day assessment of a bank's situation and related on site verifications. The ECB should, however, have the power to perform day-to-day supervision of individual credit institutions, or of particular types of credit institutions, directly, if it believes this to be necessary in the interests of financial stability or to protect the stability of the European financial system.
Amendment 297 #
2012/0242(CNS)
Proposal for a regulation
Recital 30
Recital 30
(30) In order to carry out its tasks, the ECB should have appropriate supervisory powers. Union law on the prudential supervision of credit institutions provides for certain powers to be conferred on competent authorities designated by the Member States for those purposes. To the extent that these powers fall within the scope of the supervisory tasks conferred on the ECB, for participating Member States the ECBthe ECB, acting under the terms of the single supervisory mechanism, or the competent national authority, should be considered the competent authority and should have the powers conferred on competent authorities by Union law. This includes powers conferred by those acts on the competent authorities of the home and the host Member States and the powers conferred on designated authorities.
Amendment 304 #
2012/0242(CNS)
Proposal for a regulation
Recital 31
Recital 31
(31) In order to carry out its tasks effectively, the ECB, acting under the terms of the single supervisory mechanism, or the competent national authority, should be able to require all necessary information, and to conduct investigations and on-site inspections. These powers should apply to supervised entities, persons involved in the activities of those entities and related third parties, third parties to whom those entities have outsourced operational functions or activities and persons otherwise closely and substantially related or connected to the activities of those entities, including the staff of a supervised entity who are not directly involved in its activities but who, due to their function within the entity, may hold important information on a specific matter and firms which have provided services to those entities. The ECB, acting under the terms of the single supervisory mechanism, or the competent national authority, should be able to require information by simple request under which the addressee is not obliged to provide the information but, in the event that it does so voluntarily, the information provided should not be incorrect or misleading and should be made available without delay. The ECB should also be able to require information by decision.
Amendment 461 #
2012/0242(CNS)
Proposal for a regulation
Article 4 – paragraph 1 – introductory part
Article 4 – paragraph 1 – introductory part
1. The ECB shall, in accordance with the relevant provisions of Union law, be exclusively competent to carry out, for prudential supervisory purposes, the following tasks in relation to all credit institutions established in the participating Member States:
Amendment 549 #
2012/0242(CNS)
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
1. The ECB shall carry out itsthe tasks conferred on it under Article 4 within a single supervisory mechanism composed of the ECB and national competent authorities.
Amendment 554 #
2012/0242(CNS)
Proposal for a regulation
Article 5 – paragraph 1 – subparagraph 1a (new)
Article 5 – paragraph 1 – subparagraph 1a (new)
To that end the competent national authorities shall carry out ongoing supervision of credit institutions on behalf of the ECB, unless the ECB decides to carry out the ongoing supervision of individual, or specific kinds of, credit institutions directly for reasons of financial stability or to protect the stability of the European financial system.
Amendment 556 #
2012/0242(CNS)
Proposal for a regulation
Article 5 – paragraph 2
Article 5 – paragraph 2
Amendment 566 #
2012/0242(CNS)
Proposal for a regulation
Article 5 – paragraph 2 a (new)
Article 5 – paragraph 2 a (new)
2a. The competent national authorities shall regularly forward to the ECB information and insights from the ongoing supervision, as well as periodic reports and bulletins by the credit institutions, and its assessments based on this data. The ECB shall be fully involved in the supervisory reporting system of the Member States.
Amendment 567 #
2012/0242(CNS)
Proposal for a regulation
Article 5 – paragraph 2 b (new)
Article 5 – paragraph 2 b (new)
2b. The national competent authorities shall inform the ECB without delay of any serious concerns about the stability and financial position, and in particular the solvency and liquidity situation, of credit institutions falling within its remit.
Amendment 576 #
2012/0242(CNS)
Proposal for a regulation
Article 5 – paragraph 3
Article 5 – paragraph 3
3. The ECB shall organise the practical modalities of implementation of paragraph 21, paragraph 1 subparagraph 1, paragraph 2a and paragraph 2b by the national supervisory authorities in discharging its tasks. It shall clearly define the framework and conditions under which national competent authorities shall carry out those activities.
Amendment 590 #
2012/0242(CNS)
Proposal for a regulation
Article 5 – paragraph 4
Article 5 – paragraph 4
4. National competent authorities shall follow the instructions given by the ECB in this connection.
Amendment 666 #
2012/0242(CNS)
Proposal for a regulation
Article 8 – paragraph 1 – subparagraph 1
Article 8 – paragraph 1 – subparagraph 1
1. For the purposes of carrying out the tasks conferred upon it by Article 4(1) and (2), the ECB or national competent authority, acting in the framework of the single European supervisory system, shall be considered the competent authority in the participating Member States in accordance with the relevant acts of Union law and have the powers and obligations which competent authorities shall have under those acts.
Amendment 670 #
2012/0242(CNS)
Proposal for a regulation
Article 8 – paragraph 1 – subparagraph 2
Article 8 – paragraph 1 – subparagraph 2
For the purpose of carrying out the task referred to in Article 4(1) and (2), the ECB or national competent authority, acting in the framework of the single European supervisory system, shall be considered as the designated authority in accordance with the relevant acts of Union law and have the powers and obligations which designated authorities shall have under those acts.
Amendment 673 #
2012/0242(CNS)
Proposal for a regulation
Article 8 – paragraph 2
Article 8 – paragraph 2
2. For the purposes of carrying out the tasks conferred upon it by Article 4(1) and (2), the ECB or national competent authority, acting in the framework of the single European supervisory system, shall have the investigatory powers set out in Section I.
Amendment 687 #
2012/0242(CNS)
Proposal for a regulation
Article 9 – paragraph 1 – introductory part
Article 9 – paragraph 1 – introductory part
1. The ECB or national competent authority, acting in the framework of the single European supervisory system, may by simple request or by decision require the following legal or natural persons to provide all information that is necessary in order to carry out the tasks conferred upon it by this Regulation, including information to be provided at recurring intervals and in specified formats for supervisory and related statistical purposes:
Amendment 694 #
2012/0242(CNS)
Proposal for a regulation
Article 10 – paragraph 1 – introductory part
Article 10 – paragraph 1 – introductory part
1. In order to carry out the tasks conferred upon it by this Regulation, the ECB or national competent authority, acting in the framework of the single European supervisory system, may conduct all necessary investigations of persons referred to in Article 9 (1) (a) to (g). To that end, the ECB or national competent authority, acting in the framework of the single European supervisory system, shall have the right to:
Amendment 695 #
2012/0242(CNS)
Proposal for a regulation
Article 10 – paragraph 2 – subparagraph 1
Article 10 – paragraph 2 – subparagraph 1
The persons referred to in Article 9 (1) (a) to (g) shall submit to investigations launched on the basis of a decision of the ECB or national competent authority, acting in the framework of the single European supervisory system.
Amendment 696 #
2012/0242(CNS)
Proposal for a regulation
Article 10 – paragraph 2 – subparagraph 2
Article 10 – paragraph 2 – subparagraph 2
When a person obstructs the conduct of the investigation, the participating Member State where the relevant premises are located shall afford the necessary assistance, including access by the ECB or national competent authority, acting in the framework of the single European supervisory system, to the business premises of the legal persons referred to in Article 9(1) (a) to (g), so that the aforementioned rights can be exercised.
Amendment 701 #
2012/0242(CNS)
Proposal for a regulation
Article 11 – paragraph 1
Article 11 – paragraph 1
1. In order to carry out the tasks conferred upon it by this Regulation, the ECB or national competent authority, acting in the framework of the single European supervisory system, may conduct all necessary on-site inspections at the business premises of the legal persons referred to in Article 9 (1) (a) to (g), in accordance with Article 12. Where the proper conduct and efficiency of the inspection so require, the ECB or national competent authority, acting in the framework of the single European supervisory system, may carry out the on- site inspection without prior announcement.
Amendment 704 #
2012/0242(CNS)
Proposal for a regulation
Article 11 – paragraph 2
Article 11 – paragraph 2
2. The officials of and other persons authorised by the ECB or national competent authority, acting in the framework of the single European supervisory system, to conduct an on- site inspection may enter any business premises and land of the legal persons subject to an investigation decision adopted by the ECB or national competent authority, acting in the framework of the single European supervisory system, and shall have all the powers stipulated in Article 10 (1). They shall also have the power to seal any business premises and books or records for the period of, and to the extent necessary for, the inspection.
Amendment 707 #
2012/0242(CNS)
Proposal for a regulation
Article 11 – paragraph 3
Article 11 – paragraph 3
3. The persons referred to in Article 9 (1) (a) to (g) shall submit to on-site inspectinvestigations launched on the basis of a decisions ordered by decision of the ECBf the ECB or national competent authority, acting in the framework of the single European supervisory system.
Amendment 710 #
2012/0242(CNS)
Proposal for a regulation
Article 11 – paragraph 4
Article 11 – paragraph 4
4. Officials of, as well as those authorised or appointed by, the competent authority of the Member State where the inspection is to be conducted shall, upon the request of the ECB or national competent authority, acting in the framework of the single European supervisory system, actively assist the officials of and other persons authorised by the ECB. To that end, they shall enjoy the powers set out in paragraph 2. Officials of the competent authority of the participating Member State concerned may also attend the on-site inspections upon request.
Amendment 712 #
2012/0242(CNS)
Proposal for a regulation
Article 11 – paragraph 5
Article 11 – paragraph 5
5. Where the ECB acting in the framework of the single supervisory mechanism carries out the duties conferred on it and where the officials of and other accompanying persons authorised by the ECB find that a person opposes an inspection ordered pursuant to this Article, the competent authority of the participating Member State shall afford them the necessary assistance.
Amendment 876 #
2012/0242(CNS)
Proposal for a regulation
Article 19 a (new)
Article 19 a (new)
Article 19a Board of Appeal 1. The Board of Appeal shall be an internal body composed of six members and six alternates appointed by the Governing Council of the ECB. Four members and four alternates shall not currently be members of the staff of the ECB or other national bodies or Union bodies, and shall be individuals of high repute with a proven record of relevant knowledge and professional, including supervisory, experience at a sufficiently high level in the field of banking. The members of the Board of Appeal may not also be members of the body responsible for issuing instructions or making decisions. The Board of Appeal shall appoint its President. 2. National competent authorities shall have the right to appeal against instructions and decisions addressed to them or to credit institutions for which they are competent and against decisions addressed to other national authorities or to credit institutions for which they are not competent if these decisions directly concern them. 3. The Board of Appeal shall examine the appeal within a period appropriate to the urgency of the matter. 4. The Board of Appeal may either confirm the instruction or decision or refer the matter back to the body responsible for issuing instructions or making decisions. The decisions taken by the Board of Appeal shall be reasoned. Where the Board of Appeal confirms the instruction or decision, it shall enter into force without delay. Where the Board of Appeal refers the instruction or decision back to the body responsible for issuing instructions or making decisions, that body shall be bound by the decision of the Board of Appeal and shall amend its decision in the matter concerned. 5. The term of office of the members of the Board of Appeal shall be five years. That term may be extended once. 5. The Governing Council of the ECB shall draw up the rules of procedure of the Board of Appeal.
Amendment 147 #
2012/0175(COD)
Proposal for a directive
Recital 31
Recital 31
(31) In order to mitigate conflicts of interest between the seller and the buyer of an insurance product, it is necessary to ensure sufficient disclosure of remuneration of insurance distributors. Accordingly, for life insurance products, tThe intermediary and the employee of the insurance intermediary or the insurance undertaking should be obliged to inform the customer about the nature and amount of its remuneration, in advance of the sale. For other insurance products, subject to a transitional period of 5 years, the customer must be informed of the customer's right to request this information, which must be provided to the customer upon request.
Amendment 231 #
2012/0175(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 18
Article 2 – paragraph 1 – point 18
(18) 'remuneration' means any commission, fee, charge or other payment, including an economic benefit of any kindr benefits in money’s worth of any kind and any other incentives, offered or given in connection with insurance mediation activities.
Amendment 254 #
2012/0175(COD)
Proposal for a directive
Article 3 – paragraph 4 – subparagraph 3
Article 3 – paragraph 4 – subparagraph 3
Member States shall also ensure that insurance intermediaries - including tied ones - and reinsurance intermediaries who cease to fulfil these requirements are immediately removed from the register. The validity of the registration shall be subject to a regular review by the competent authority. If necessary, the home Member State shall inform the host Member State of such removal.
Amendment 256 #
2012/0175(COD)
Proposal for a directive
Article 3 – paragraph 5 – subparagraph 1
Article 3 – paragraph 5 – subparagraph 1
Member States shall ensure that the competent authorities do not register an insurance or reinsurance intermediary unless it is satisfied that the intermediary meets the requirements laid down in Article 8.
Amendment 345 #
2012/0175(COD)
Proposal for a directive
Article 15 – paragraph 1
Article 15 – paragraph 1
Amendment 357 #
2012/0175(COD)
Proposal for a directive
Article 16 – paragraph 1 – point a – point ii
Article 16 – paragraph 1 – point a – point ii
ii) whether or not it provides anyand what type of advice it provides about the insurance products sold;
Amendment 359 #
2012/0175(COD)
Proposal for a directive
Article 16 – paragraph 1 – point a – point v
Article 16 – paragraph 1 – point a – point v
v) whether the intermediary is representing the customer or is acting for and on behalf of the insurance undertaking when carrying on his activity as an insurance intermediary;
Amendment 363 #
2012/0175(COD)
Proposal for a directive
Article 16 – paragraph 1 – point b – point ii
Article 16 – paragraph 1 – point b – point ii
ii) whether or not it provides anyand what type of advice it provides about the insurance products sold;
Amendment 371 #
2012/0175(COD)
Proposal for a directive
Article 17 – paragraph 1 – point a
Article 17 – paragraph 1 – point a
(a) whether it has a holding, direct or indirect, representing more than 10%which gives it a proportion of the voting rights or of the capital in a given insurance undertaking;
Amendment 372 #
2012/0175(COD)
Proposal for a directive
Article 17 – paragraph 1 – point b
Article 17 – paragraph 1 – point b
(b) whether a given insurance undertaking or parent undertaking of a given insurance undertaking has a holding, direct or indirect, representing more than 10%which gives it a proportion of the voting rights or of the capital in the insurance intermediary;
Amendment 375 #
2012/0175(COD)
Proposal for a directive
Article 17 – paragraph 1 – point c – point i
Article 17 – paragraph 1 – point c – point i
(i) it gives advice on the basis of a fair analyan independent basis, or
Amendment 380 #
2012/0175(COD)
Proposal for a directive
Article 17 – paragraph 1 – point c – point iii
Article 17 – paragraph 1 – point c – point iii
(iii) it is not under a contractual obligation to conduct insurance mediation business exclusively with one or more insurance undertakings and does not give advice on the basis of a fair analyan independent basis. In that case, it shall provide the names of the insurance undertakings with which it may and does conduct business;
Amendment 386 #
2012/0175(COD)
Proposal for a directive
Article 17 – paragraph 1 – point d
Article 17 – paragraph 1 – point d
(d) the nature and amount of the remuneration received in relation to the insurance contract;
Amendment 399 #
2012/0175(COD)
Proposal for a directive
Article 17 – paragraph 1 – point f
Article 17 – paragraph 1 – point f
(f) if the intermediary will receive a fee or a commission of any kind, an overview of the total costs, the net insurance premium and the full amount of the remuneration concerning the insurance products being offered or considered or, where the precise amount iss are not capable of being given, the basis of calculation of all the fee or commission or the combination of both and a specimen invoice;
Amendment 417 #
2012/0175(COD)
Proposal for a directive
Article 17 – paragraph 2
Article 17 – paragraph 2
Amendment 438 #
2012/0175(COD)
Proposal for a directive
Article 17 – paragraph 3
Article 17 – paragraph 3
3. The insurance undertaking or insurance intermediary shall also inform the customer in a transparent manner about the nature and the amount and the basis of the calculation of any variable remuneration received by any employee of theirs for distributing and managing the insurance product in question.
Amendment 445 #
2012/0175(COD)
Proposal for a directive
Article 17 – paragraph 4
Article 17 – paragraph 4
4. If any payments are made by the customer under the insurance contract after its conclusion, the insurance undertaking or intermediary shall also inform the customer of the net insurance premium and the amount of the remuneration and make the disclosures in accordance with this Article for each such payment.
Amendment 479 #
2012/0175(COD)
Proposal for a directive
Article 18 – paragraph 3
Article 18 – paragraph 3
3. When the insurance intermediary or the insurance undertaking informs the customer that it givesnsurance advice its advice on the basis of a fair analysis, it is obliged to give that advice on the basis of an analysis of a sufficiently large number of insurance contracts available on theprovided on an independent basis, it shall: (a) carry out a comprehensive analysis of the relevant market, to enable it to make a recommendation, in accordance with professional criteria, regarding which insurance contract would be adequate to meet the customer's needs. The insurance products should be diversified with regard to their type and issuers or product providers and should not be limited to insurance products issued or provided by entities having close links with the insurance intermediary or insurance undertaking; (b) give the customer full and unbiased advice; (c) not accept or receive fees, commissions or any monetary benefits, benefits in money’s worth or other incentives paid or provided by any third party or a person acting on behalf of a third party in relation to the provision of the service to customers.
Amendment 489 #
2012/0175(COD)
Proposal for a directive
Article 18 – paragraph 4
Article 18 – paragraph 4
4. Prior to the conclusion of a contract, whether or not advice is given, the insurance intermediary or insurance undertaking shall give the customer the relevant information about the insurance product in an easily comprehensible formand clear form on a key information document to allow the customer to make an informed decision, while taking into account the complexity of the insurance product and the type of costumer.
Amendment 491 #
2012/0175(COD)
Proposal for a directive
Article 18 – paragraph 4 a (new)
Article 18 – paragraph 4 a (new)
4a. The European Commission shall put forward a report on the application of paragraph 4 to the European Parliament and the Council by X.X.20XX [one year after entry into force of the Directive], and if appropriate a legislative proposal taking into account the provisions of the regulation of the European Parliament and of the Council on the proposal on key information documents for investment products (COM (2012) 352.
Amendment 518 #
2012/0175(COD)
Proposal for a directive
Article 21 – paragraph 2
Article 21 – paragraph 2
2. When an insurance service or product is offered together with another service or product as a package, the insurance undertaking or, where applicable, the insurance intermediary shall offer and explicitly inform the customer that it is possible to buy the components of the package separately and shall provide information of the costs and charges of each component of the package that may be bought through or from it separately.
Amendment 566 #
2012/0175(COD)
Proposal for a directive
Article 24 – paragraph 3 – point c
Article 24 – paragraph 3 – point c
(c) costs and associated charges, including the net insurance premium.
Amendment 571 #
2012/0175(COD)
Proposal for a directive
Article 24 – paragraph 4
Article 24 – paragraph 4
4. The information referred to in this Article shouldall be provided in a readily comprehensible and clear form in such a manner that the customers or potential customers are reasonably able to understand the nature and risks of the specific insurance product that is being offered and, consequently, to take investment decisions on an informed basis. This information mayshall be provided ion a standardised formakey information document.
Amendment 579 #
2012/0175(COD)
Proposal for a directive
Article 24 – paragraph 5 – point a
Article 24 – paragraph 5 – point a
(a) assess a sufficiently large number of insurance products available on the marketcarry out a comprehensive analysis of the relevant market, to enable it to make a recommendation, in accordance with professional criteria, regarding which insurance contract would be adequate to meet the customer's needs. The insurance products should be diversified with regard to their type and issuers or product providers and should not be limited to insurance products issued or provided by entities having close links with the insurance intermediary or insurance undertaking; and
Amendment 585 #
2012/0175(COD)
Proposal for a directive
Article 24 – paragraph 5 – point a a (new)
Article 24 – paragraph 5 – point a a (new)
(aa) give the customer full and unbiased advice;
Amendment 596 #
2012/0175(COD)
Proposal for a directive
Article 24 – paragraph 5 – point b
Article 24 – paragraph 5 – point b
(b) not accept or receive fees, commissions or any monetary benefits, benefits in money’s worth or other incentives paid or provided by any third party or a person acting on behalf of a third party in relation to the provision of the service to customers.
Amendment 339 #
2012/0169(COD)
Proposal for a regulation
Article 8 – paragraph 2 – point b – point vi a (new)
Article 8 – paragraph 2 – point b – point vi a (new)
Amendment 417 #
2012/0169(COD)
Proposal for a regulation
Article 8 – paragraph 2 – point h
Article 8 – paragraph 2 – point h
(h) for pension products, under a section titled ‘What might I get when I retire?’, projections of possible future outcomes, including a comprehensible clarification that the actual return may differ considerably from these projections.
Amendment 521 #
2012/0169(COD)
Proposal for a regulation
Article 12 – paragraph 1
Article 12 – paragraph 1
1. A person selling an investment product, or acting as an intermediary in its sale, to retail investors shall provide them with the key information document in good time before the conclusion of a transaction relating to the investment product.
Amendment 528 #
2012/0169(COD)
Proposal for a regulation
Article 12 – paragraph 2 – introductory part
Article 12 – paragraph 2 – introductory part
2. By way of derogation from paragraph 1, a person selling an investment product, or acting as an intermediary in its sale, may provide the retail investor with the key information document immediately after the conclusion of the transaction where:
Amendment 536 #
2012/0169(COD)
Proposal for a regulation
Article 12 – paragraph 2 – point a – point c
Article 12 – paragraph 2 – point a – point c
(c) where the person selling the investment product, or acting as an intermediary in its sale, has informed the retail investor of this fact.
Amendment 545 #
2012/0169(COD)
Proposal for a regulation
Article 12 – paragraph 3
Article 12 – paragraph 3
3. Where successive transactions regarding the same investment product are carried out on behalf of a retail investor in accordance with instructions given by that investor to the person selling the investment product, or acting as an intermediary in its sale, prior to the first transaction, the obligation to provide a key information document under paragraph 1 shall only apply to the first transaction.
Amendment 550 #
2012/0169(COD)
Proposal for a regulation
Article 13 – paragraph 1
Article 13 – paragraph 1
1. The person selling an investment product, or acting as an intermediary in its sale, shall provide the key information document to retail investors free of charge.
Amendment 556 #
2012/0169(COD)
Proposal for a regulation
Article 13 – paragraph 2 – introductory part
Article 13 – paragraph 2 – introductory part
2. The person selling an investment product, or acting as an intermediary in its sale, shall provide the key information document to the retail investor in one of the following media:
Amendment 558 #
2012/0169(COD)
Proposal for a regulation
Article 13 – paragraph 4 – point a
Article 13 – paragraph 4 – point a
(a) the use of the durable medium is appropriate in the context of the business conducted between the person selling an investment product, or acting as an intermediary in its sale, and the retail investor; and
Amendment 560 #
2012/0169(COD)
Proposal for a regulation
Article 13 – paragraph 5 – point a
Article 13 – paragraph 5 – point a
(a) the provision of the key information document by means of a website is appropriate in the context of the business conducted between the person selling an investment product, or acting as an intermediary in its sale, and the retail investor;
Amendment 566 #
2012/0169(COD)
Proposal for a regulation
Article 13 – paragraph 6
Article 13 – paragraph 6
6. For the purposes of paragraph 4 and 5, the provision of information using a durable medium other than paper or by means of a website shall be regarded as appropriate in the context of the business conducted between the person selling an investment product, or acting as an intermediary in its sale, and the retail investor, if there is evidence that the retail investor has regular access to the Internet. The provision by the retail investor of an e- mail address for the purposes of that business shall be regarded as such evidence.
Amendment 156 #
2012/0150(COD)
Proposal for a directive
Recital 10
Recital 10
(10) National AThe competent national authorities and resolution authorities should take into account the risk, size andnature of activity, size, complexity, interconnectedness and legal form of an institution, both in the context of recovery and resolution plans and when using the different tools at their disposal, making sure that the regime is applied in an appropriate wayand proportionate way. One of the factors they should take into account in this regard should be membership of a protection scheme within the meaning of Article 80(8) of Directive 2006/48/EC.
Amendment 220 #
2012/0150(COD)
Proposal for a directive
Recital 46 a (new)
Recital 46 a (new)
(46a) In the exercise of powers to effect a conversion to equity under the bail-in tool, attention should be paid to the legal form of the institution concerned because the conversion of claims or debt instruments to equity may not be appropriate, as for example in the case of shares in cooperatives.
Amendment 241 #
2012/0150(COD)
Proposal for a directive
Recital 69
Recital 69
(69) As a principle, cContributions should be collected from the industry prior to and independently of any operation of resolution. When prior funding is insufficient to cover the losses or costs incurred by the use of the financing arrangements, additional contributions should be collected to bear the additional cost or loss.
Amendment 246 #
2012/0150(COD)
Proposal for a directive
Recital 71
Recital 71
Amendment 250 #
2012/0150(COD)
Proposal for a directive
Recital 73
Recital 73
(73) In order to build up the resilience of the European System of Financing Arrangements, and in line with the objective requiring that financing should come primarily from the industry rather than from public budgets, national arrangements should be able to borrow from each other on a voluntary basis in case of need.
Amendment 255 #
2012/0150(COD)
Proposal for a directive
Recital 75
Recital 75
Amendment 270 #
2012/0150(COD)
Proposal for a directive
Article 1 – paragraph 1 a (new)
Article 1 – paragraph 1 a (new)
The following institutions shall be excluded from the scope of the Directive: (a) bridging institutions; (b) development banks.
Amendment 299 #
2012/0150(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 63 a (new)
Article 2 – paragraph 1 – point 63 a (new)
(63a) ‘eligible deposits’: deposits within the meaning of Directive 94/19/EC that are not covered by Article 7(2) of Directive 94/19/EC;
Amendment 333 #
2012/0150(COD)
Proposal for a directive
Article 3 – paragraph 6
Article 3 – paragraph 6
6. Member States shall ensure that the authorities designated in accordance paragraph 1 have the expertise, resources and operational capacity to apply resolution measures, and are able to exercise their powers with the speed and flexibility that are necessary to achieve the resolution objectives. Member States may provide for the authorities referred to in paragraph 1 to transfer specific tasks to recognised deposit guarantee schemes, where such schemes have the mechanisms necessary for early intervention within the meaning of Title III and for resolution within the meaning of Title IV.
Amendment 353 #
2012/0150(COD)
Proposal for a directive
Article 4 – paragraph 1 – introductory part
Article 4 – paragraph 1 – introductory part
1. Having regard to the impact that the failure of the institution could have, due to the nature of its business, its size, its legal form, its complexity or its interconnectedness to other institutions or to the financial system in general, on financial markets, on other institutions, on funding conditions, Member States shall ensure that competent and resolution authorities determine the extent to which the following apply to institutions:
Amendment 372 #
2012/0150(COD)
Proposal for a directive
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
1a. Member States shall ensure that the competent national authorities and resolution authorities, when establishing the criteria referred to in paragraph 1, take account of the structure of joint schemes and of whether institutions are members of protection schemes within the meaning of Article 80(8) of Directive 2006/48/EC.
Amendment 393 #
2012/0150(COD)
Proposal for a directive
Article 5 – paragraph 1 a (new)
Article 5 – paragraph 1 a (new)
1a. By way of derogation from paragraph 1, the Member States can, where an institution is a member of a protection scheme as set out in Article 80(8) of Directive 2006/48/EC, arrange for the recovery plan, setting out the measures to be taken by the institution’s management or the protection scheme to restore the institution’s financial situation in the event of its significant deterioration, to be drawn up and maintained by the protection scheme.
Amendment 398 #
2012/0150(COD)
Proposal for a directive
Article 5 – paragraph 2
Article 5 – paragraph 2
2. Member States shall ensure that the institutions update their recovery plans at least annuallyevery two years or after change to the legal or organisational structure of the institution, its business or its financial situation, which could have a material effect on, or necessitates a change to the recovery plan. Competent authorities may require institutions to update their recovery plans more frequently.
Amendment 532 #
2012/0150(COD)
Proposal for a directive
Article 9 – paragraph 1 a (new)
Article 9 – paragraph 1 a (new)
1a. By way of derogation from paragraph 1, resolution authorities shall, in conjunction with the relevant authorities and with the protection scheme, draw up a recovery plan for each institution which is a member of a protection scheme as set out in Article 80(8) of Directive 2006/48/EC. The resolution plan shall, after consultation with the protection system in accordance with Article 80(8) of Directive 2006/48/EC, provide for the resolution actions which the resolution and competent authorities may take where the institution meets the conditions for resolution and the protection system has not taken any appropriate resolution measures.
Amendment 911 #
2012/0150(COD)
Proposal for a directive
Article 27 – paragraph 1 – point b
Article 27 – paragraph 1 – point b
(b) having regard to timing and other relevant circumstances, there is no reasonable prospect that any alternative private sector or supervisory action, other than a resolution action taken by the resolution authorities in respect of the institution, would prevent the failure of the institution within reasonable timeframe;
Amendment 1229 #
2012/0150(COD)
Proposal for a directive
Article 43 – paragraph 1 – point d
Article 43 – paragraph 1 – point d
(d) if, and only if, the total reduction of liabilities pursuant to points (a), (b) or (c) of this paragraph is less than the aggregate amount, authorities reduce the principal amount of, or outstanding amount payable in respect of, the rest of eligible liabilities, pursuant to Article 38, that are senior debt to the extent required, in conjunction with the write down pursuant to points (a), (b) or (c) of this paragraph to produce the aggregate amount, the reduction being effected in accordance with the hierarchy statutorily applicable in ordinary national insolvency proceedings.
Amendment 1357 #
2012/0150(COD)
Proposal for a directive
Article 76 – paragraph 2
Article 76 – paragraph 2
2. Without prejudice to the generality of the requirements under paragraph 1, the persons referred to in that paragraph shall be prohibited from divulging confidential information received during the course of their professional activities, or from a resolution authority in connection with its functions, to any person or authority unless it is in summary or collective form such that individual institutions cannot be identified or with the express and prior consent of the resolution authority. This shall apply in particular to the content and details of recovery and resolution plans in accordance with Articles 5, 7, 9, 10 and 11, and to the results of assessments in accordance with Articles 6, 8 and 13.
Amendment 1420 #
2012/0150(COD)
Proposal for a directive
Article 90 – paragraph 1 – point b
Article 90 – paragraph 1 – point b
(b) the borrowvoluntary lending between national financing arrangements as specified in Article 97,
Amendment 1457 #
2012/0150(COD)
Proposal for a directive
Article 93 – paragraph 1
Article 93 – paragraph 1
1. Member States shall ensure that, in a period no longer than 10 years after the entry into force of this directive, the available financial means of their financing arrangements reach at least 1.5% of the amount of deposits of all the credit institutions authorised in their territory which are guaranteed under Directive 94/19/EC.
Amendment 1473 #
2012/0150(COD)
Proposal for a directive
Article 94 – paragraph 2 – point a
Article 94 – paragraph 2 – point a
(a) if a Member State has availed itself of the option provided for in Article 99(5) of this Directive to use the funds of Deposit Guarantee Scheme for the purposes of Article 92 of this Directive, the contribution from each institution shall be pro-rata to the amount of its liabilities excluding own funds and deposits guaranteed under Directive 94/19/EC with respect to the total liabilities, excluding own funds and deposits guaranteed under Directive 94/19/EC, of all the institutions authorised in the territory of the Member State.
Amendment 1477 #
2012/0150(COD)
Proposal for a directive
Article 94 – paragraph 2 – point b
Article 94 – paragraph 2 – point b
Amendment 1481 #
2012/0150(COD)
Proposal for a directive
Article 94 – paragraph 2 – point c
Article 94 – paragraph 2 – point c
(c) the contributions calculated under (a) and (b) shall be adjusted in proportion to the risk profile of institutions, in accordance with the criteria adopted under paragraph 7 of this Article.
Amendment 1489 #
2012/0150(COD)
Proposal for a directive
Article 94 – paragraph 3
Article 94 – paragraph 3
3. The available financial means to be taken into account in order to reach the target level specified in Article 93 may include payment commitments which are fully backed by collateral of low risk assets unencumbered by any third party rights, at the free disposal and earmarked for the exclusive use by the resolution authorities for the purposes specified in the first paragraph of Article 92. The share of irrevocable payment commitments shall not exceed 310% of the total amount of contributions raised in accordance with this Article.
Amendment 1521 #
2012/0150(COD)
Proposal for a directive
Article 94 – paragraph 7 – point g a (new)
Article 94 – paragraph 7 – point g a (new)
(ga) membership of a guarantee scheme in accordance with Article 80(8) of Directive 2006/48/EC.
Amendment 1539 #
2012/0150(COD)
Proposal for a directive
Article 97 – title
Article 97 – title
Amendment 1541 #
2012/0150(COD)
Proposal for a directive
Article 97 – paragraph 1
Article 97 – paragraph 1
1. Member States shall ensure that financing arrangements under their jurisdiction shall have the right to borrowapply for loans from all other financing arrangements within the Union, in the event that the amounts raised under Article 94 are not sufficient to cover the losses, costs or other expense incurred by the use of the financing arrangements, and the extraordinary contributions foreseen in Article 95 are not immediately accessible.
Amendment 1552 #
2012/0150(COD)
Proposal for a directive
Article 97 – paragraph 2 – subparagraph 1
Article 97 – paragraph 2 – subparagraph 1
Member States shall ensure that financing arrangements under their jurisdiction are obliged to lendhave the right to lend voluntarily to other financing arrangements within the Union in the circumstances specified under paragraph 1.
Amendment 1557 #
2012/0150(COD)
Proposal for a directive
Article 97 – paragraph 2 – subparagraph 2
Article 97 – paragraph 2 – subparagraph 2
Subject to the first subparagraph, national financing arrangements shall not be obliged to lend to another national financing arrangement in those circumstances when the resolution authority of the Member State of the financing arrangement considers that it would not have sufficient funds to finance any foreseeable resolution in the near future. In any case they should not be obliged tomay not lend more than halfone third of the funds that the national financing arrangement has available at the moment when the borrowing request is formalised.
Amendment 1564 #
2012/0150(COD)
Proposal for a directive
Article 97 – paragraph 2 a (new)
Article 97 – paragraph 2 a (new)
2 a. 1. The following conditions must be satisfied in the event of voluntary lending: (a) the borrowing financing arrangement shall not, pursuant to this Article, repay loans at this time to other financing arrangements; (b) the borrowing financing arrangement shall inform the relevant authorities and the European Banking Authority (EBA) of the amount requested; (c) the borrowing financing arrangement shall repay the loan at the latest after five years, including by way of annual instalments, interest being due only at the time of repayment; (d) the interest rate set shall be at least equivalent to the marginal lending facility rate of the European Central Bank during the credit period; (e) the borrowing financing arrangement shall inform the EBA of the initial interest rate and of the duration of the loan. 2. The EBA shall confirm that the requirements referred to in paragraphs 1 and 2 have been met. Member States shall ensure that the contributions levied by the borrowing financing arrangement are sufficient to reimburse the amount borrowed and to re-establish the target level as soon as possible. Financing arrangements which must repay a loan to other financing arrangements pursuant to this Article shall not provide loans to other financing arrangements.
Amendment 1566 #
2012/0150(COD)
Proposal for a directive
Article 97 – paragraph 3
Article 97 – paragraph 3
3. The Commission shall be empowered to adopt delegated acts in accordance with Article 103 in order to specify the additional conditions that have to be met in order for a financing arrangement to be able to borrow from other financing arrangements as well as the conditions applicable to the borrowing and in particular the criteria for the assessment of whether there will be sufficient funds for financing a foreseeable resolution in the near future, the repayment period and the interest rate applicable.
Amendment 1601 #
2012/0150(COD)
Proposal for a directive
Article 99 – paragraph 1
Article 99 – paragraph 1
1. Member States shall ensure that, where the resolution authorities take resolution action, and provided that this action ensures that depositors continue having access to their deposits, the deposit guarantee scheme to which the institution is affiliated is liablecan be drawn on, up to the amount of covered deposits, foto cover the amount of losses that it would have had to bear if the institution had been wound up under normal insolvency proceedings.
Amendment 1606 #
2012/0150(COD)
Proposal for a directive
Article 99 – paragraph 2
Article 99 – paragraph 2
2. Member States shall ensure that, under the national law governing normal insolvency proceedings, theligible deposit guarantee schemes ranks shall be serviced as a pari passu withority over unsecured non- preferred claims.
Amendment 1610 #
2012/0150(COD)
Proposal for a directive
Article 99 – paragraph 3
Article 99 – paragraph 3
3. Member States shall ensure that the determination of the amount by which the deposit guarantee scheme is liablecan be drawn on in accordance with paragraph 1 of this Article complies with the conditions established in Article 30 (2).
Amendment 1621 #
2012/0150(COD)
Proposal for a directive
Article 99 – paragraph 6
Article 99 – paragraph 6
6. Member States shall ensure that the deposit guarantee scheme has arrangements in place to ensure that, following a contribution made by the deposit guarantee scheme under paragraphs 1 or 5 and where the depositors of the institution under resolution need to be reimbursed, the members of the scheme can immediately provide the scheme with the amounts that have to be paid.
Amendment 1626 #
2012/0150(COD)
Proposal for a directive
Article 99 – paragraph 7
Article 99 – paragraph 7
Amendment 1627 #
2012/0150(COD)
Proposal for a directive
Article 99 – paragraph 8
Article 99 – paragraph 8
Amendment 10 #
2011/2298(REG)
Parliament's Rules of Procedure
Rule 70 – paragraph 2
Rule 70 – paragraph 2
2. BeforeWhere the committee responsible considers it appropriate to entering into such negotiations, the committee after the adoption of a responsible should, in principle, take a decision by a majority of its members and adopt a mandate, orientations or prioritiert for first reading, it shall take a decision on the opening of negotiations by a majority of its members and separately for every legislative procedure concerned. That decision shall include a mandate specifying the composition of the negotiating team, which shall as a general rule be composed only of the Chair, rapporteur and shadow rapporteurs.
Amendment 15 #
2011/2298(REG)
Parliament's Rules of Procedure
Rule 70 – paragraph 2 a (new)
Rule 70 – paragraph 2 a (new)
2 a. The negotiating team, whose composition is provided for in paragraph 2, shall be led by the Chair of the committee responsible. All documents, including written drafts, shall be circulated to the whole negotiating team. Documents for discussion in trilogues shall be provided at least 24 hours in advance of each meeting. The negotiating team shall report to the next committee meeting after each meeting with the Council and the Commission (trilogue) on the progress and outcome of the negotiations. All written drafts considered at the trilogue shall be made available to the committee, which may be via the groups as appropriate. Where it proves not to be feasible to convene a meeting of the committee in a timely manner, the negotiating team shall report back to the coordinators of the committee.
Amendment 1 #
2011/2146(INI)
Motion for a resolution
Citation 12 a (new)
Citation 12 a (new)
- having regard to the opinion of the European Economic and Social Committee of 15 June 2011 on the Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions on reform of the EU state aid rules on Services of General Economic Interest,
Amendment 4 #
2011/2146(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas the successful implementation of the Europe 2020 strategy is bolstered by the provision of SGEI, and these services can help to reach growth targets in the areas of employment, education and social integration in particular, so that in the end the high level of productivity, employment and social cohesion that has been set can be achieved,
Amendment 7 #
2011/2146(INI)
Motion for a resolution
Recital B b (new)
Recital B b (new)
Bb. whereas social services of general interest (SSGI) play an important role in underpinning basic rights and make a major contribution to equality of opportunity,
Amendment 12 #
2011/2146(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas the current EU legislation provides for exemption from notification for hospitals and social housing, i.e. SGEI meeting basic social needs,
Amendment 19 #
2011/2146(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas the Member States and their public authorities are responsible for determining the precise extent and the way in which SGEI are provided, and Article 1 of Protocol No 26 to the Lisbon Treaty explicitly recognises this right to regional and local self-government for SGEI,
Amendment 20 #
2011/2146(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
Eb. whereas pursuant to Article 107 TFEU a compensatory payment is regarded as state aid only where it hinders trade between Member States,
Amendment 21 #
2011/2146(INI)
Motion for a resolution
Recital E c (new)
Recital E c (new)
Ec. whereas compensatory payments encompass all advantages granted by the state or through state resources in any form whatsoever,
Amendment 24 #
2011/2146(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Highlights the improvements in terms of application and comprehensibility that have been possible thanks to the measures taken in 2005, known as the Altmark package; points out that the public consultations have nevertheless shown that the legal instruments need to be even clearer and more straightforward, proportionate and effective;
Amendment 25 #
2011/2146(INI)
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Stresses that the outcome of the public consultation also indicates that, apart from the administrative burden, other factors possibly militating against application of the rules on state aid to SGEI have been uncertainties and misinterpretations, especially of key concepts in the rules, such as ‘act of entrustment’, ‘reasonable return’, ‘undertaking’, ‘economic and non- economic services’ and ‘internal market relevance’; welcomes, therefore, the Commission's statement that it intends to explain and clarify the basic concepts;
Amendment 28 #
2011/2146(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Stresses that particular attention must be paid, when reviewing the rules, to ensuring that the Community concepts and terms used are clearly tailored to the nature of public services and the diversity of forms of organisation and stakeholders involved, and that they take proper account of the actual risk of an impact on trade between Member States;
Amendment 57 #
2011/2146(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Welcomes the Commission’s concern to ensure, through a more diverse approach to the application of state aid rules, that the administrative burden placed on the public authorities and service providers is proportionate to the potential impact of the measure concerned on competition in the internal market; calls therefore, with reference to Article 106(2) TFEU, for the provisions to be framed in such a way as to ensure, on the one hand, that they are applied correctly and, on the other, that the undertakings entrusted with the operation of services of general interest can perform in full the specific tasks assigned to them;
Amendment 89 #
2011/2146(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Calls on the Commission to devise specialcome up with special de minimis arrangements for social services of general interest (SSGI) that can be assumed to entail no detriment to trade between Member States; suggests, to this end, that appropriate higher thresholds be proposed for the amount of compensatory payments for local social services of this type;
Amendment 96 #
2011/2146(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Welcomes the Commission’s assertion that it wishes to exempt in principle further categories of SSGI from the requirement that aid to them be the subject of notification; calls for an assessment as to whether such an exemption should extend to care facilities for elderly people or people with disabilities, orto child and youth welfare and to healthcare facilities;
Amendment 8 #
2011/2071(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Points out that regional policy has a consolidated methodology for an integrated approach and a well-designed guidance system for mobilising investments on the ground which could support economic coordination in an appropriate manner; calls, therefore, on the European Commission to put forward specific recommendations on how the Structural Funds can be used to this end within the framework of the Operational Programmes;
Amendment 27 #
2011/2071(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Points out that Parliament has a crucial role to play in establishing full democratic legitimacy for the European Semester; calls, therefore, on the European Commission to fully involve Parliament and its respective committees;
Amendment 6 #
2011/2048(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Takes the view, given that public investment is being progressively decentralised, with two thirds being carried out by sub-national governments, that particular attention should be paid to the consequences for local and regional contracting authorities should be given the leading role in the review of EU public procurement rules, a process which should give them increased autonomy to procure what they consider appropriate for their needs;
Amendment 14 #
2011/2048(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Considers it essential to create tools to increase cross-border cooperation at the level of public procurement so as, for example, to increase spending efficiency in the implementation of programmes funded by cohesion policy instruments;
Amendment 40 #
2011/2048(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Asks the Commission to simplify the procedural framework as a whole by avoiding exceptions and derogations to be applied by contracting authorities and to clarify the uncertainties expressed by the latter on awards below the thresholds of the directives.; takes the view that the threshold values for public service and supply contracts should be raised;
Amendment 116 #
2011/2035(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Emphasises that the Union will be able to hold its own in the face of global competition only if its cohesion policy can tap the development potential of all the regions and cities in response to the challenges of the EU 2020 strategy;
Amendment 147 #
2011/2035(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Doubts whether specific operational programmes for functional geographical entities such as metropolitan regions or sea or river basins will yield additional benefits; is particularly aware, in relation to such programmes, of then case of absence of political bodies (including democratically elected bodies) with a sufficiently wide- ranging remit to implement them; calls instead for closer coordination of macroregional or natural- environment strategies at inter- governmental levels and calls for an appropriate consideration of these functional geographical entities within the national operational programs in order to facilitate the use of EU Funding for interregional development projects;
Amendment 165 #
2011/2035(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Stresses the key role of towns and cities in achieving the economic, environmental and social EU 2020 objectives; calls for further support to urban areas in mainstream programmes as already exercised in the actual programming period; calls for an obligatory implementation of the mainstreaming; calls for support for ideas and projects which can serve as models, on the basis of integrated development plans, and for the upgrading of urban-rural links;
Amendment 361 #
2011/2035(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
33. Calls for the mandatory involvement of federal Länder and regof regional and local authorities and their associations in drawing up development partnerships and operational programmes; considers it essential to make appropriate provision for this in the regulations governing the Structural Funds;
Amendment 62 #
2011/0439(COD)
Proposal for a directive
Article 1 – paragraph 2 – subparagraph 1
Article 1 – paragraph 2 – subparagraph 1
Procurement within the meaning of this Directive is the purchase or other forms of acquisition of works, supplies or servicesf works, supplies or services in the framework of public procurement by one or more contracting entities from economic operators chosen by those contracting entities, provided that the works, supplies or services are intended for the pursuit of one of the activities referred to in Articles 5 to 11.
Amendment 64 #
2011/0439(COD)
Proposal for a directive
Article 1 – paragraph 2 – subparagraph 2
Article 1 – paragraph 2 – subparagraph 2
Amendment 66 #
2011/0439(COD)
Proposal for a directive
Article 19 – paragraph 1 – point b
Article 19 – paragraph 1 – point b
(b) arbitration and, conciliation, legal and notarial services;
Amendment 67 #
2011/0439(COD)
Proposal for a directive
Article 19 – paragraph 1 – point b a (new)
Article 19 – paragraph 1 – point b a (new)
(ba) civil protection, emergency response and everyday hazard prevention;
Amendment 68 #
2011/0439(COD)
Proposal for a directive
Article 19 – paragraph 1 – point b b (new)
Article 19 – paragraph 1 – point b b (new)
(bb) contracts to be awarded on the basis of special or exclusive rights compatible with the EU Treaties;
Amendment 69 #
2011/0439(COD)
Proposal for a directive
Article 19 – paragraph 1 – point c
Article 19 – paragraph 1 – point c
(c) financial services in connection with the issue, sale, purchase or transfer of securities or other financial instruments within the meaning of Directive 2004/39/EC of the European Parliament and of the Council and, operations conducted with the European Financial Stability Facility and operations to provide the contracting authorities with money or capital;
Amendment 72 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 44 – subparagraph 1 – point b
Article 21 – paragraph 44 – subparagraph 1 – point b
(b) at least 980 % of the activities of that legal person which are subject to the contract are carried out for the controlling contracting authority or for other legal persons controlled by that contracting authority;
Amendment 74 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 1 – subparagraph 2
Article 21 – paragraph 1 – subparagraph 2
Amendment 75 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 2
Article 21 – paragraph 2
2. Paragraph 1 also applies where a controlled entity which is a contracting authority awards a contract to its controlling entity or entities, or to another legal person controlled by the same contracting authority, provided that there is no private participation in the legal person being awarded the public contract.
Amendment 77 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 3 – subparagraph 1 – point b
Article 21 – paragraph 3 – subparagraph 1 – point b
(b) at least 980 % of the activities of that legal person which are subject to the contract are carried out for the controlling contracting authorities or other legal persons controlled by the same contracting authorities;
Amendment 79 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 3 – subparagraph 2
Article 21 – paragraph 3 – subparagraph 2
Amendment 80 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 4 – point a
Article 21 – paragraph 4 – point a
Amendment 83 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 4 – point b
Article 21 – paragraph 4 – point b
(b) the agreement is governed only by considerations relating to the public interest and the services and requisite auxiliary services are linked to those considerations;
Amendment 84 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 4 – point c
Article 21 – paragraph 4 – point c
Amendment 87 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 4 – point d
Article 21 – paragraph 4 – point d
Amendment 92 #
2011/0439(COD)
Proposal for a directive
Article 44 – paragraph 1 – point d – point i
Article 44 – paragraph 1 – point d – point i
(i) the absence of competition for legal or technical reasons;
Amendment 93 #
2011/0439(COD)
Proposal for a directive
Article 44 – paragraph 1 – point e
Article 44 – paragraph 1 – point e
(e) insofar as is strictly necessary where, for reasons of extreme urgency brought about by force majeureevents which the contracting authority could not have foreseen, the time limits laid down for open procedures, restricted procedures and negotiated procedures with prior call for competition cannot be complied with. The circumstances invoked to justify extreme urgency must not in any event be attributable to the contracting entity;
Amendment 108 #
2011/0439(COD)
Proposal for a directive
Article 79 – paragraph 1
Article 79 – paragraph 1
Amendment 109 #
2011/0439(COD)
Proposal for a directive
Article 79 – paragraph 3 – introductory part
Article 79 – paragraph 3 – introductory part
3. The explanations referred to in paragraphs 1 and 2If, for a given contract, tenders appear to be abnormally low in relation to the goods, works or services, the contracting authority shall, before it may reject those tenders, request in writing details of the constituent elements of the tender which it considers relevant. The explanations in question may in particular relate to:
Amendment 110 #
2011/0439(COD)
Proposal for a directive
Article 79 – paragraph 3 – point b
Article 79 – paragraph 3 – point b
(b) the technical solutions chosen and/or any exceptionally favourable conditions available to the tenderer for the supply of the goods or services or for the execution of the work;
Amendment 111 #
2011/0439(COD)
Proposal for a directive
Article 79 – paragraph 3 – point d
Article 79 – paragraph 3 – point d
(d) compliance, at least in an equivalent manner, with obligations established by Union legislation in the field of social and labour law or environmental law or of the international social and environmental law provisions listed in Annex XIV or, where not applicable, with other provisions ensuring an equivalent level of protection with the provisions relating to employment protection and working conditions in force at the place where the work, service or supply is to be performed;
Amendment 112 #
2011/0439(COD)
Proposal for a directive
Article 79 – paragraph 4
Article 79 – paragraph 4
Amendment 113 #
2011/0439(COD)
Proposal for a directive
Article 79 – paragraph 5
Article 79 – paragraph 5
5. Where a contracting entity establishes that a tender is abnormally low because the tenderer has obtained State aid, the tender maycan be rejected on that ground alone only after consultation with the tenderer where the latter is unable to prove, within a sufficient time limit fixed by the contracting entity, that the aid in question was compatible with the internal market within the meaning of Article 107 of the Treatgranted legally. Where the contracting entity rejects a tender in those circumstances, it shall inform the Commission thereof.
Amendment 114 #
2011/0439(COD)
Proposal for a directive
Article 79 – paragraph 6
Article 79 – paragraph 6
Amendment 116 #
2011/0439(COD)
Proposal for a directive
Article 81 – paragraph 2
Article 81 – paragraph 2
Amendment 118 #
2011/0439(COD)
Proposal for a directive
Article 81 – paragraph 3
Article 81 – paragraph 3
3. Paragraphs 1 and 2 shall be without prejudice to the question of the principal economic operator's liability.
Amendment 120 #
2011/0439(COD)
Proposal for a directive
Article 85 – paragraph 1
Article 85 – paragraph 1
Amendment 122 #
2011/0439(COD)
Proposal for a directive
Article 85 – paragraph 3
Article 85 – paragraph 3
3. The notices referred to in paragraphs 1 and 2 shall contain the information referred to in Annex XVIII in accordance with the standard model notices. The Commission shall establish the standard forms. Those implementing acts shall be adopted in accordance with the advisory procedure referred to in Article 100.
Amendment 124 #
2011/0439(COD)
Proposal for a directive
Article 85 – paragraph 4
Article 85 – paragraph 4
4. The notices referred to in paragraphs 1 and 2 shall be published in accordance with Article 65.
Amendment 126 #
2011/0439(COD)
Proposal for a directive
Article 86 – paragraph 1
Article 86 – paragraph 1
Amendment 129 #
Amendment 233 #
2011/0439(COD)
Proposal for a directive
Article 1 – paragraph 2 – subparagraph 1
Article 1 – paragraph 2 – subparagraph 1
2. Procurement within the meaning of this Directive is the purchase or other forms of acquisition of works, supplies or servicesf works, supplies or services in the context of public procurement by one or more contracting entities from economic operators chosen by those contracting entities, provided that the works, supplies or services are intended for the pursuit of one of the activities referred to in Articles 5 to 11.
Amendment 239 #
2011/0439(COD)
Proposal for a directive
Article 1 – paragraph 2 – subparagraph 2
Article 1 – paragraph 2 – subparagraph 2
Amendment 309 #
2011/0439(COD)
Proposal for a directive
Article 19 – paragraph 1 – point b
Article 19 – paragraph 1 – point b
(b) arbitration and conciliation services, legal services and notarial services;
Amendment 311 #
2011/0439(COD)
Proposal for a directive
Article 19 – paragraph 1 – point b a (new)
Article 19 – paragraph 1 – point b a (new)
(ba) civil protection, disaster protection and day-to-day risk prevention;
Amendment 313 #
2011/0439(COD)
Proposal for a directive
Article 19 – paragraph 1 – point b b (new)
Article 19 – paragraph 1 – point b b (new)
(bb) contracts to be awarded on the basis of special or exclusive rights compatible with the EU Treaties;
Amendment 315 #
2011/0439(COD)
Proposal for a directive
Article 19 – paragraph 1 – point c
Article 19 – paragraph 1 – point c
(c) financial services in connection with the issue, sale, purchase or transfer of securities or other financial instruments within the meaning of Directive 2004/39/EC of the European Parliament and of the Council and, operations conducted with the European Financial Stability Facility and transactions to enable contracting authorities to raise money or capital;
Amendment 340 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 2 – subparagraph 1 – point b
Article 21 – paragraph 2 – subparagraph 1 – point b
(b) at least 980 % of the activities of that legal person which are covered by the contract are carried out for the controlling contracting authority or for other legal persons controlled by that contracting authority;
Amendment 348 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 1 – subparagraph 2
Article 21 – paragraph 1 – subparagraph 2
Amendment 356 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 2
Article 21 – paragraph 2
2. Paragraph 1 also applies where a controlled entity which is a contracting authority awards a contract to its controlling entity or entities, or to another legal person controlled by the same contracting authority, provided that there is no private participation in the legal person being awarded the public contract.
Amendment 368 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 3 – subparagraph 1 – point b
Article 21 – paragraph 3 – subparagraph 1 – point b
(b) at least 980 % of the activities of that legal person which are covered by the contract are carried out for the controlling contracting authorities or other legal persons controlled by the same contracting authorities;
Amendment 375 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 3 – subparagraph 2
Article 21 – paragraph 3 – subparagraph 2
Amendment 381 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 4 – point a
Article 21 – paragraph 4 – point a
Amendment 392 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 4 – point b
Article 21 – paragraph 4 – point b
(b) the agreement is governed only by considerations relating to the public interest and the services and requisite auxiliary services are linked to those considerations;
Amendment 395 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 4 – point c
Article 21 – paragraph 4 – point c
Amendment 400 #
2011/0439(COD)
Proposal for a directive
Article 21 – paragraph 4 – point d
Article 21 – paragraph 4 – point d
Amendment 520 #
2011/0439(COD)
Proposal for a directive
Article 44 – paragraph 1 – point d – point i
Article 44 – paragraph 1 – point d – point i
i) the absence of competition for legal or technical reasons;
Amendment 526 #
2011/0439(COD)
Proposal for a directive
Article 44 – paragraph 1 – point e
Article 44 – paragraph 1 – point e
(e) insofar as is strictly necessary where, for reasons of extreme urgency brought about by force majeureevents which the contracting authority could not have foreseen, the time limits laid down for open procedures, restricted procedures and negotiated procedures with prior call for competition cannot be complied with. The circumstances invoked to justify extreme urgency must not in any event be attributable to the contracting entity;
Amendment 777 #
2011/0439(COD)
Proposal for a directive
Article 79 – paragraph 1
Article 79 – paragraph 1
Amendment 794 #
2011/0439(COD)
Proposal for a directive
Article 79 – paragraph 3 – introductory part
Article 79 – paragraph 3 – introductory part
3. The explanations referred to in paragraphs 1 and 2If, for a given contract, tenders appear to be abnormally low in relation to the goods, works or services, the contracting authority shall, before it may reject those tenders, request in writing details of the constituent elements of the tender which it considers relevant. The explanations in question may in particular relate to:
Amendment 795 #
2011/0439(COD)
Proposal for a directive
Article 79 – paragraph 3 – point b
Article 79 – paragraph 3 – point b
(b) the technical solutions chosen and/or any exceptionally favourable conditions available to the tenderer for the supply of the goods or services or for the execution of the work;
Amendment 797 #
2011/0439(COD)
Proposal for a directive
Article 79 – paragraph 3 – point d
Article 79 – paragraph 3 – point d
(d) compliance, at least in an equivalent manner, with obligations established by Union legislation in the field of social and labour law or environmental law or of the international social and environmental law provisions listed in Annex XIV or, where not applicable, with other provisions ensuring an equivalent level of protection with the provisions relating to employment protection and working conditions in force at the place where the work, service or supply is to be performed;
Amendment 800 #
2011/0439(COD)
Proposal for a directive
Article 79 – paragraph 4
Article 79 – paragraph 4
Amendment 804 #
2011/0439(COD)
Proposal for a directive
Article 79 – paragraph 5
Article 79 – paragraph 5
5. Where a contracting entity establishes that a tender is abnormally low because the tenderer has obtained State aid, the tender maycan be rejected on that ground alone only after consultation with the tenderer where the latter is unable to prove, within a sufficient time limit fixed by the contracting entity, that the aid in question was compatible with the internal market within the meaning of Article 107 of the Treatgranted legally. Where the contracting entity rejects a tender in those circumstances, it shall inform the Commission thereof.
Amendment 807 #
2011/0439(COD)
Proposal for a directive
Article 79 – paragraph 6
Article 79 – paragraph 6
Amendment 834 #
2011/0439(COD)
Proposal for a directive
Article 81 – paragraph 2
Article 81 – paragraph 2
Amendment 840 #
2011/0439(COD)
Proposal for a directive
Article 81 – paragraph 3
Article 81 – paragraph 3
3. Paragraphs 1 and 2 shall be without prejudice to the question of the principal economic operator's liability.
Amendment 898 #
2011/0439(COD)
Proposal for a directive
Article 85 – paragraph 1
Article 85 – paragraph 1
Amendment 900 #
2011/0439(COD)
Proposal for a directive
Article 85 – paragraph 3
Article 85 – paragraph 3
3. The notices referred to in paragraphs 1 and 2 shall contain the information referred to in Annex XVIII in accordance with the standard model notices. The Commission shall establish the standard forms. Those implementing acts shall be adopted in accordance with the advisory procedure referred to in Article 100.
Amendment 902 #
2011/0439(COD)
Proposal for a directive
Article 85 – paragraph 4
Article 85 – paragraph 4
4. The notices referred to in paragraphs 1 and 2 shall be published in accordance with Article 65.
Amendment 907 #
2011/0439(COD)
Proposal for a directive
Article 86 – paragraph 1
Article 86 – paragraph 1
Amendment 934 #
Amendment 78 #
2011/0438(COD)
Proposal for a directive
Article 1 – paragraph 2 – subparagraph 1
Article 1 – paragraph 2 – subparagraph 1
Procurement within the meaning of this Directive is the purchase or other forms of acquisition of works, supplies or services under public contracts by one or more contracting authorities from economic operators chosen by those contracting authorities, whether or not the works, supplies or services are intended for a public purpose.
Amendment 80 #
2011/0438(COD)
Proposal for a directive
Article 1 – paragraph 2 – subparagraph 2
Article 1 – paragraph 2 – subparagraph 2
Amendment 85 #
2011/0438(COD)
Proposal for a directive
Article 10 – paragraph 1 – point c
Article 10 – paragraph 1 – point c
(c) arbitration and conciliation services, legal services and notarial services;
Amendment 87 #
2011/0438(COD)
Proposal for a directive
Article 10 – paragraph 1 – point d
Article 10 – paragraph 1 – point d
(d) financial services in connection with the issue, sale, purchase or transfer of securities or other financial instruments within the meaning of Directive 2004/39/EC of the European Parliament and of the Council, central bank services and operations conducted with the European Financial Stability Facility and transactions to enable contracting authorities to raise money or capital;
Amendment 88 #
2011/0438(COD)
Proposal for a directive
Article 10 – paragraph 1 – point d a (new)
Article 10 – paragraph 1 – point d a (new)
(da) civil protection, disaster protection and day-to-day risk prevention;
Amendment 89 #
2011/0438(COD)
Proposal for a directive
Article 10 – paragraph 1 – point d b (new)
Article 10 – paragraph 1 – point d b (new)
(db) contracts to be awarded on the basis of special or exclusive rights compatible with the EU Treaties;
Amendment 93 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 1 – subparagraph 1 – point b
Article 11 – paragraph 1 – subparagraph 1 – point b
(b) at least 980 % of the activities of that legal person which are the subject of the contract are carried out for the controlling contracting authority or for other legal persons controlled by that contracting authority;
Amendment 95 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 1 – subparagraph 2
Article 11 – paragraph 1 – subparagraph 2
Amendment 96 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 2
Article 11 – paragraph 2
2. Paragraph 1 also applies where a controlled entity which is a contracting authority awards a contract to its controlling entity or controlling entities, or to another legal person controlled by the same contracting authority, provided that there is no private participation in the legal person being awarded the public contract.
Amendment 98 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 3 – subparagraph 1 – point b
Article 11 – paragraph 3 – subparagraph 1 – point b
(b) at least 980 % of the activities of that legal person which are the subject of the contract are carried out for the controlling contracting authorities or other legal persons controlled by the same contracting authorities;
Amendment 100 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 3 – subparagraph 2
Article 11 – paragraph 3 – subparagraph 2
Amendment 101 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 4 – point a
Article 11 – paragraph 4 – point a
Amendment 104 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 4 – point b
Article 11 – paragraph 4 – point b
(b) the agreement is governed only by considerations relating to the public interest, and the services and requisite ancillary services relate thereto;
Amendment 105 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 4 – point c
Article 11 – paragraph 4 – point c
Amendment 108 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 4 – point d
Article 11 – paragraph 4 – point d
Amendment 116 #
2011/0438(COD)
Proposal for a directive
Article 19 – paragraph 7 – subparagraph 1
Article 19 – paragraph 7 – subparagraph 1
Member States shall ensure that, at the latest 2four years after the date provided for in Article 92(1), all procurement procedures under this Directive are performed using electronic means of communication, in particular e-submission, in accordance with the requirements of this Article.
Amendment 118 #
2011/0438(COD)
Proposal for a directive
Article 27 – paragraph 1 – subparagraph 2
Article 27 – paragraph 1 – subparagraph 2
In the contract notice or in the invitation to confirm interest contracting authorities shall describe the procurement and the minimum requirements to be met and specify the main award criteria so as to enable economic operators to identify the nature and scope of the procurement and decide whether to request to participate in the negotiations. In the technical specifications, contracting authorities shall specify which parts thereof define the minimum requirements.
Amendment 119 #
2011/0438(COD)
Proposal for a directive
Article 27 – paragraph 3 – subparagraph 2 – point b
Article 27 – paragraph 3 – subparagraph 2 – point b
Amendment 120 #
2011/0438(COD)
Proposal for a directive
Article 27 – paragraph 3 – subparagraph 2 – point c
Article 27 – paragraph 3 – subparagraph 2 – point c
(c) the main award criteria.
Amendment 121 #
2011/0438(COD)
Proposal for a directive
Article 28 – paragraph 2
Article 28 – paragraph 2
2. Contracting authorities shall set out their needs and requirements in the contract notice and they shall define these needs and requirements in the notice and/or in a descriptive document. At the same time and in the same documents, they shall also set out and define the main chosen award criteria.
Amendment 122 #
2011/0438(COD)
Proposal for a directive
Article 30 – paragraph 2 – subparagraph 1 – point a
Article 30 – paragraph 2 – subparagraph 1 – point a
(a) where no tenders or no suitable tenders or no requests to participate have been submitted in response to an open procedure or a restricted procedure, provided that the initial conditions of the contract are not substantially altered and that a report is sent to the Commission or the national oversight body designated according to Article 84 where they so request.
Amendment 123 #
2011/0438(COD)
Proposal for a directive
Article 30 – paragraph 2 – subparagraph 1 – point c – point i
Article 30 – paragraph 2 – subparagraph 1 – point c – point i
i) the absence of competition for legal or technical reasons;
Amendment 124 #
2011/0438(COD)
Proposal for a directive
Article 30 – paragraph 2 – subparagraph 1 – point d
Article 30 – paragraph 2 – subparagraph 1 – point d
(d) insofar as is strictly necessary where, for reasons of extreme urgency brought about by force majeureevents which the contracting authority could not have foreseen, the time limits for the open, restricted or competitive procedures with negotiation cannot be complied with; the circumstances invoked to justify extreme urgency must not in any event be attributable to the contracting authority;
Amendment 140 #
2011/0438(COD)
Proposal for a directive
Article 54 – paragraph 2
Article 54 – paragraph 2
2. Contracting authorities may decide not to award a contract to the tenderer submitting the best tender where they haveit has been established that the tender does not comply, at least in an equivalent manner, with obligations established by national or Union legislation in the field of social and labour law or environmental law or of the international social and environmental law provisions listed in Annex XI.
Amendment 142 #
2011/0438(COD)
Proposal for a directive
Article 55 – paragraph 3 – subparagraph 1 – point a
Article 55 – paragraph 3 – subparagraph 1 – point a
(a) where it is aware of any violation of obligations established by national or Union legislation in the field of social and labour law or environmental law or of collective agreements such as wage agreements, for example, or of the international social and environmental law provisions listed in Annex XI. Compliance with Union legislation or with international provisions also includes compliance in an equivalent manner.
Amendment 145 #
2011/0438(COD)
Proposal for a directive
Article 55 – paragraph 3 – subparagraph 2
Article 55 – paragraph 3 – subparagraph 2
Amendment 157 #
2011/0438(COD)
Proposal for a directive
Article 69 – paragraph 1
Article 69 – paragraph 1
Amendment 162 #
2011/0438(COD)
Proposal for a directive
Article 69 – paragraph 3 – introductory part
Article 69 – paragraph 3 – introductory part
3. The explanations referred to in paragraphs 1 and 2If, for a given contract, tenders appear to be abnormally low in relation to the goods, works or services, the contracting authority shall, before it may reject those tenders, request in writing details of the constituent elements of the tender which it considers relevant. The explanations in question may in particular relate to:
Amendment 163 #
2011/0438(COD)
Proposal for a directive
Article 69 – paragraph 3 – point b
Article 69 – paragraph 3 – point b
(b) the technical solutions chosen and/or any exceptionally favourable conditions available to the tenderer for the execution of the work or for the supply of the goods or services;
Amendment 164 #
2011/0438(COD)
Proposal for a directive
Article 69 – paragraph 3 – point d
Article 69 – paragraph 3 – point d
(d) compliance, at least in an equivalent manner, with obligations established by Union legislation in the field of social and labour law or environmental law or of the international social and environmental law provisions listed in Annex XI or, where not applicable, with other provisions ensuring an equivalent level of protection with the provisions relating to employment protection and working conditions in force at the place where the work, service or supply is to be performed;
Amendment 166 #
2011/0438(COD)
Proposal for a directive
Article 69 – paragraph 4
Article 69 – paragraph 4
Amendment 168 #
2011/0438(COD)
Proposal for a directive
Article 69 – paragraph 5
Article 69 – paragraph 5
5. Where a contracting authority establishes that a tender is abnormally low because the tenderer has obtained State aid, the tender may be rejected on that ground alone only after consultation with the tenderer where the latter is unable to prove, within a sufficient time limit fixed by the contracting authority, that the aid in question was compatible with the internal market within the meaning of Article 107 of the Treatgranted legally. Where the contracting authority rejects a tender in those circumstances, it shall inform the Commission thereof.
Amendment 169 #
2011/0438(COD)
Proposal for a directive
Article 69 – paragraph 6
Article 69 – paragraph 6
Amendment 173 #
2011/0438(COD)
Proposal for a directive
Article 71 – paragraph 2
Article 71 – paragraph 2
Amendment 175 #
2011/0438(COD)
Proposal for a directive
Article 71 – paragraph 3
Article 71 – paragraph 3
3. Paragraphs 1 and 2 shall be without prejudice to the question of the principal economic operator’s liability.
Amendment 179 #
2011/0438(COD)
Proposal for a directive
Article 75 – paragraph 1
Article 75 – paragraph 1
Amendment 181 #
2011/0438(COD)
Proposal for a directive
Article 75 – paragraph 3 – subparagraph 1
Article 75 – paragraph 3 – subparagraph 1
The notices referred to in paragraphs 1 and 2 shall contain the information referred to in Annexes VI Part H and I, in accordance with the standard forms.
Amendment 183 #
2011/0438(COD)
Proposal for a directive
Article 75 – paragraph 3 – subparagraph 2
Article 75 – paragraph 3 – subparagraph 2
Amendment 185 #
2011/0438(COD)
Proposal for a directive
Article 75 – paragraph 4
Article 75 – paragraph 4
4. The notices referred to in paragraphs 1 and 2 shall be published in accordance with Article 49.
Amendment 187 #
2011/0438(COD)
Proposal for a directive
Article 76 – paragraph 1
Article 76 – paragraph 1
Amendment 192 #
Amendment 330 #
2011/0438(COD)
Proposal for a directive
Article 1 – paragraph 2 – subparagraph 1
Article 1 – paragraph 2 – subparagraph 1
2. Procurement within the meaning of this Directive is the purchase or other forms of acquisition of works, supplies or services via public contracts by one or more contracting authorities from economic operators chosen by those contracting authorities, whether or not the works, supplies or services are intended for a public purpose.
Amendment 335 #
2011/0438(COD)
Proposal for a directive
Article 1 – paragraph 2 – subparagraph 2
Article 1 – paragraph 2 – subparagraph 2
Amendment 424 #
2011/0438(COD)
Proposal for a directive
Article 10 – paragraph 1 – point c
Article 10 – paragraph 1 – point c
(c) arbitration and conciliation services, legal services and notarial services;
Amendment 432 #
2011/0438(COD)
Proposal for a directive
Article 10 – paragraph 1 – point d
Article 10 – paragraph 1 – point d
(d) financial services in connection with the issue, sale, purchase or transfer of securities or other financial instruments within the meaning of Directive 2004/39/EC of the European Parliament and of the Council27, central bank services and operations conducted with the European Financial Stability Facility and transactions to enable contracting authorities to raise money or capital;
Amendment 434 #
2011/0438(COD)
Proposal for a directive
Article 10 – paragraph 1 – point d a (new)
Article 10 – paragraph 1 – point d a (new)
(da) civil protection, emergency response and everyday hazard prevention;
Amendment 437 #
2011/0438(COD)
Proposal for a directive
Article 10 – paragraph 1 – point d b (new)
Article 10 – paragraph 1 – point d b (new)
(db) contracts to be awarded on the basis of special or exclusive rights compatible with the EU Treaties;
Amendment 466 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 1 – subparagraph 1 – point b
Article 11 – paragraph 1 – subparagraph 1 – point b
(b) at least 980 % of the activities of thate legal person which are activities governed by the contract are carried out for the controlling contracting authority or for other legal persons controlled by that contracting authority;
Amendment 487 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 1 – subparagraph 2
Article 11 – paragraph 1 – subparagraph 2
Amendment 497 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 2
Article 11 – paragraph 2
2. Paragraph 1 also applies where a controlled entity which is a contracting authority awards a contract to its controlling entity or controlling entities, or to another legal person controlled by the same contracting authority, provided that there is nonly passive private participation in the legal person being awarded the public contract.
Amendment 514 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 3 – subparagraph 1 – point b
Article 11 – paragraph 3 – subparagraph 1 – point b
(b) at least 980 % of the activities of that legal person which are the subject of the contract are carried out for the controlling contracting authorities or other legal persons controlled by the same contracting authorities;
Amendment 528 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 3 – subparagraph 2
Article 11 – paragraph 3 – subparagraph 2
Amendment 539 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 4 – point a
Article 11 – paragraph 4 – point a
Amendment 551 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 4 – point b
Article 11 – paragraph 4 – point b
(b) the agreement is governed only by considerations relating to the public interest, and the services and requisite ancillary services relate thereto;
Amendment 557 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 4 – point c
Article 11 – paragraph 4 – point c
Amendment 565 #
2011/0438(COD)
Proposal for a directive
Article 11 – paragraph 4 – point d
Article 11 – paragraph 4 – point d
Amendment 624 #
2011/0438(COD)
Proposal for a directive
Article 19 – paragraph 7 – subparagraph 1
Article 19 – paragraph 7 – subparagraph 1
7. Member States shall ensure that, at the latest 24 years after the date provided for in Article 92(1), all procurement procedures under this Directive are performed using electronic means of communication, in particular e-submission, in accordance with the requirements of this Article.
Amendment 719 #
2011/0438(COD)
Proposal for a directive
Article 27 – paragraph 1 – subparagraph 2
Article 27 – paragraph 1 – subparagraph 2
In the contract notice or in the invitation to confirm interest contracting authorities shall describe the procurement and the minimum requirements to be met and specify the main award criteria so as to enable economic operators to identify the nature and scope of the procurement and decide whether to request to participate in the negotiations. In the technical specifications, contracting authorities shall specify which parts thereof define the the minimum requirements.
Amendment 738 #
2011/0438(COD)
Proposal for a directive
Article 27 – paragraph 3 – subparagraph 2 – point b
Article 27 – paragraph 3 – subparagraph 2 – point b
Amendment 742 #
2011/0438(COD)
Proposal for a directive
Article 27 – paragraph 3 – subparagraph 2 – point c
Article 27 – paragraph 3 – subparagraph 2 – point c
(c) the main award criteria.
Amendment 759 #
2011/0438(COD)
Proposal for a directive
Article 28 – paragraph 2
Article 28 – paragraph 2
2. Contracting authorities shall set out their needs and requirements in the contract notice and they shall define these needs and requirements in the notice and/or in a descriptive document. At the same time and in the same documents, they shall also set out and define the main chosen award criteria.
Amendment 797 #
2011/0438(COD)
Proposal for a directive
Article 30 – paragraph 2 – subparagraph 1 – point a
Article 30 – paragraph 2 – subparagraph 1 – point a
(a) where no tenders or no suitable tenders or no requests to participate have been submitted in response to an open procedure or a restricted procedure, provided that the initial conditions of the contract are not substantially altered and that a report is sent to the Commission or the national oversight body designated according to Article 84 where they so requestaltered.
Amendment 804 #
2011/0438(COD)
Proposal for a directive
Article 30 – paragraph 2 – subparagraph 1 – point c – point i
Article 30 – paragraph 2 – subparagraph 1 – point c – point i
i) the absence of competition for legal or technical reasons;
Amendment 811 #
2011/0438(COD)
Proposal for a directive
Article 30 – paragraph 2 – subparagraph 1 – point d
Article 30 – paragraph 2 – subparagraph 1 – point d
(d) insofar as is strictly necessary where, for reasons of extreme urgency brought about by force majeureevents unforeseeable for the contracting authority, the time limits for the open, restricted or competitive procedures with negotiation cannot be complied with; the circumstances invoked to justify extreme urgency must not in any event be attributable to the contracting authority;
Amendment 1032 #
2011/0438(COD)
Proposal for a directive
Article 54 – paragraph 2
Article 54 – paragraph 2
2. Contracting authorities may decide not to award a contract to the tenderer submitting the best tender where they haveit has been established that the tender does not comply, at least in an equivalent manner, with obligations established by national or Union legislation in the field of social and labour law or environmental law or of the international social and environmental law provisions listed in Annex XI.
Amendment 1050 #
2011/0438(COD)
Proposal for a directive
Article 55 – paragraph 3 – subparagraph 1 – point a
Article 55 – paragraph 3 – subparagraph 1 – point a
(a) where it is aware of any violation of obligations established by national or Union legislation in the field of social and labour law or environmental law or of collective agreements such as wage agreements, for example, or of the international social and environmental law provisions listed in Annex XI. Compliance with Union legislation or with international provisions also includes compliance in an equivalent manner.
Amendment 1070 #
2011/0438(COD)
Proposal for a directive
Article 55 – paragraph 3 – subparagraph 2
Article 55 – paragraph 3 – subparagraph 2
Amendment 1246 #
2011/0438(COD)
Proposal for a directive
Article 69 – paragraph 1
Article 69 – paragraph 1
Amendment 1278 #
2011/0438(COD)
Proposal for a directive
Article 69 – paragraph 3 – introductory part
Article 69 – paragraph 3 – introductory part
3. The explanations referred to in paragraphs 1 and 2If, for a given contract, tenders appear to be abnormally low in relation to the goods, works or services, the contracting authority shall, before it may reject those tenders, request in writing details of the constituent elements of the tender which it considers relevant. The explanations in question may in particular relate to:
Amendment 1279 #
2011/0438(COD)
Proposal for a directive
Article 69 – paragraph 3 – point b
Article 69 – paragraph 3 – point b
(b) the technical solutions chosen and/or any exceptionally favourable conditions available to the tenderer for the execution of the work or for the supply of the goods or services;
Amendment 1281 #
2011/0438(COD)
Proposal for a directive
Article 69 – paragraph 3 – point d
Article 69 – paragraph 3 – point d
(d) compliance, at least in an equivalent manner, with obligations established by Union legislation in the field of social and labour law or environmental law or of the international social and environmental law provisions listed in Annex XI or, where not applicable, with other provisions ensuring an equivalent level of protection with the provisions relating to employment protection and working conditions in force at the place where the work, service or supply is to be performed;
Amendment 1285 #
2011/0438(COD)
Proposal for a directive
Article 69 – paragraph 4
Article 69 – paragraph 4
Amendment 1292 #
2011/0438(COD)
Proposal for a directive
Article 69 – paragraph 5
Article 69 – paragraph 5
5. Where a contracting authority establishes that a tender is abnormally low because the tenderer has obtained State aid, the tender maycan be rejected on that ground alone only after consultation with the tenderer where the latter is unable to prove, within a sufficient time limit fixed by the contracting authority, that the aid in question was compatible with the internal market within the meaning of Article 107 of the Treatgranted legally. Where the contracting authority rejects a tender in those circumstances, it shall inform the Commission thereof.
Amendment 1295 #
2011/0438(COD)
Proposal for a directive
Article 69 – paragraph 6
Article 69 – paragraph 6
Amendment 1331 #
2011/0438(COD)
Proposal for a directive
Article 71 – paragraph 2
Article 71 – paragraph 2
Amendment 1344 #
2011/0438(COD)
Proposal for a directive
Article 71 – paragraph 3
Article 71 – paragraph 3
3. Paragraphs 1 and 2 shall be without prejudice to the question of the principal economic operator’'s liability.
Amendment 1402 #
2011/0438(COD)
Proposal for a directive
Article 75 – paragraph 1
Article 75 – paragraph 1
Amendment 1411 #
2011/0438(COD)
Proposal for a directive
Article 75 – paragraph 3 – subparagraph 1
Article 75 – paragraph 3 – subparagraph 1
3. The notices referred to in paragraphs 1 and 2 shall contain the information referred to in Annexes VI Part H and I, in accordance with the standard forms.
Amendment 1416 #
2011/0438(COD)
Proposal for a directive
Article 75 – paragraph 3 – subparagraph 2
Article 75 – paragraph 3 – subparagraph 2
Amendment 1422 #
2011/0438(COD)
Proposal for a directive
Article 75 – paragraph 4
Article 75 – paragraph 4
4. The notices referred to in paragraphs 1 and 2 shall be published in accordance with Article 49.
Amendment 1428 #
2011/0438(COD)
Proposal for a directive
Article 76 – paragraph 1
Article 76 – paragraph 1
Amendment 1464 #
2011/0438(COD)
Proposal for a directive
Article 84
Article 84
Amendment 8 #
2011/0437(COD)
Proposal for a directive
Recital 5
Recital 5
(5) Certain coordination provisions should also be introduced for the award of works and services concessions awarded in the water, energy, transport and postal services sectors given that national authorities may influence the behaviour of entities operating in those sectors and taking into account the closed nature of the markets in which they operate, due to the existence of special or exclusive rights granted by the Member States concerning the supply to, provision or operation of networks for providing the services concerned.
Amendment 11 #
2011/0437(COD)
Proposal for a directive
Recital 11
Recital 11
(11) To ensure a real opening up of the market and a fair balance in the application of concession award rules in the water, energy, transport and postal services sectors it is necessary for the entities covered to be identified on a basis other than their legal status. It should be ensured, therefore, that the equal treatment of contracting entities operating in the public sector and those operating in the private sector is not prejudiced. It is also necessary to ensure, in keeping with Article 345 of the Treaty, that the rules governing the system of property ownership in Member States are not prejudiced.
Amendment 16 #
2011/0437(COD)
Proposal for a directive
Recital 20
Recital 20
Amendment 17 #
2011/0437(COD)
Proposal for a directive
Recital 21
Recital 21
(21) In the light of the results of the evaluation conducted by the Commission on the reform of public procurement rules it is appropriate to exclude from the full application of this Directive only those services which have a limited cross-border dimension, namely the so-called services to the person such as certain social, health and educational services. These services are provided within a particular context that varies widely amongst Member States, due to different cultural traditions. A specific regime should therefore be established for concession for these services which takes into account the fact that they are newly regulated. An obligation to publish a prior information notice and a concession award notice of any concession with a value equal to or greater than thresholds established in this Directive is an adequate way to provide information on business opportunities to potential tenderers as well as on the number and type of contracts awarded to all interested parties. Furthermore, Member States should put in place appropriate measures with reference to the award of concession contracts for these services aimed at ensuring compliance with the principles of transparency and equal treatment of economic operators while allowing contracting authorities and contracting entities to take into account the specificities of the services in question. Member States should ensure that contracting authorities and contracting entities may take into account the need to ensure quality, continuity, accessibility, availability and comprehensiveness of the services, the specific needs of different categories of users, the involvement and empowerment of users and innovation.
Amendment 23 #
2011/0437(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 7
Article 2 – paragraph 1 – point 7
(7) 'services concession' means a contract for pecuniary interest concluded in writing between one or more economic operators and one or more contracting authorities or contracting entities and having as their object the provision of services other than those referred to in points 2 and 4 where the consideration for the services to be provided consists either solely in the right to exploit the services that are subject of the contract or in that right together with payment., except in the case of simple approvals, in particular approvals on the use of a public good or a public domain;
Amendment 25 #
2011/0437(COD)
Proposal for a directive
Article 2 – paragraph 2 – subparagraph 1
Article 2 – paragraph 2 – subparagraph 1
The right to exploit the works or services as referred to in points 2, 4 and 7 of the first paragraph shall imply the transfer to the concessionaire of the substantial operating risk. The concessionaire shall be deemed to assume the substantial operating risk where it is not guaranteed to recoup the investments made or the costs incurred in operating the works or the services which are the subject-matter of the concession; an operating risk which is limited from the outset shall have no effect on this principle.
Amendment 36 #
2011/0437(COD)
Proposal for a directive
Article 8 – paragraph 5 – subparagraph 1 – point a a (new)
Article 8 – paragraph 5 – subparagraph 1 – point a a (new)
(aa) services of general economic interest;
Amendment 37 #
2011/0437(COD)
Proposal for a directive
Article 8 – paragraph 5 – subparagraph 1 – point b a (new)
Article 8 – paragraph 5 – subparagraph 1 – point b a (new)
(ba) civil protection, disaster prevention and everyday hazard prevention services;
Amendment 38 #
2011/0437(COD)
Proposal for a directive
Article 8 – paragraph 5 – subparagraph 1 – point c
Article 8 – paragraph 5 – subparagraph 1 – point c
(c) arbitration and conciliation services, legal services and notarial services;
Amendment 41 #
2011/0437(COD)
Proposal for a directive
Article 8 – paragraph 5 – subparagraph 1 – point d
Article 8 – paragraph 5 – subparagraph 1 – point d
(d) financial services in connection with the issue, sale, purchase or transfer of securities or other financial instruments within the meaning of Directive 2004/39/EC of the European Parliament and of the Council, central bank services and operations conducted with the European Financial Stability Facility (EFSF) as well as transactions to raise money or capital for the contracting authority;
Amendment 48 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 1 – subparagraph 1 – point a
Article 15 – paragraph 1 – subparagraph 1 – point a
(a) such an authority or entity exercises over the legal person concerned a control which is similar to that which it exercises over its own departments; this shall be deemed to be the case where it exercises a decisive influence over both strategic objectives and significant decisions of the controlled legal person; with a view to determining whether such control is being exercised, account may also be taken of factors such as the level of representation on administrative, management or supervisory bodies, the relevant provisions of the articles of association or the ownership arrangements; it is not a mandatory requirement that the controlled legal person be wholly owned by the contracting authority or entity;
Amendment 49 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 1 – subparagraph 1 – point b
Article 15 – paragraph 1 – subparagraph 1 – point b
(b) at least 90% of the activities of that legal person which are covered by the contract are carried out for the controlling contracting authority or entity or for other legal persons controlled by that contracting authority or entity;
Amendment 50 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 1 – subparagraph 1 – point c
Article 15 – paragraph 1 – subparagraph 1 – point c
Amendment 51 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 1 – subparagraph 2
Article 15 – paragraph 1 – subparagraph 2
Amendment 52 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 2
Article 15 – paragraph 2
2. Paragraph 1 also applies where a controlled entity which is a contracting authority or contracting entity as referred to in paragraph 1 subparagraph 1 of Article 4 awards a concession to its controlling entityunit(s), or to another legal person controlled by the same contracting authority, provided that there is no private participation in the legal person being awarded the public concession.
Amendment 53 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 3 – subparagraph 1 – point a
Article 15 – paragraph 3 – subparagraph 1 – point a
(a) the contracting authorities or entities as referred to in paragraph 1 subparagraph 1 of Article 4 exercise jointly over the legal person a control which is similar to that which it exercises over its own departments; this shall be deemed to be the case where it exercises a decisive influence over both strategic objectives and significant decisions of the controlled legal person; with a view to determining whether such control is being exercised, account may also be taken of factors such as the level of representation on administrative, management or supervisory bodies, the relevant provisions of the articles of association or the ownership arrangements; it is not a mandatory requirement that the controlled legal person be wholly owned by the contracting authority or entity;
Amendment 54 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 3 – subparagraph 1 – point b
Article 15 – paragraph 3 – subparagraph 1 – point b
(b) at least 90% of the activities of that legal person which are covered by the contract are carried out for the controlling contracting authorities or entities as referred to in paragraph 1 subparagraph 1 of Article 4 or other legal persons controlled by the same contracting authority or entity;
Amendment 55 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 3 – subparagraph 1 – point c
Article 15 – paragraph 3 – subparagraph 1 – point c
Amendment 56 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 3 – subparagraph 2
Article 15 – paragraph 3 – subparagraph 2
Amendment 57 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 4 – point a
Article 15 – paragraph 4 – point a
Amendment 58 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 4 – point b
Article 15 – paragraph 4 – point b
(b) the agreement is governed only by considerations relating to the public interest, and the services and requisite ancillary services relate thereto;
Amendment 59 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 4 – point c
Article 15 – paragraph 4 – point c
Amendment 60 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 4 – point d
Article 15 – paragraph 4 – point d
Amendment 62 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 5
Article 15 – paragraph 5
Amendment 74 #
Amendment 75 #
2011/0437(COD)
Proposal for a directive
Article 44 a (new)
Article 44 a (new)
Article 44a Member States shall ensure that suitable procedures are available to verify the impartiality of the award decision.
Amendment 76 #
Amendment 77 #
2011/0437(COD)
Proposal for a directive
Annex III – paragraph 1 – point 4
Annex III – paragraph 1 – point 4
Amendment 237 #
2011/0437(COD)
The European Parliament rejects the proposal for a directive on the award of concession contracts
Amendment 265 #
2011/0437(COD)
Proposal for a directive
Recital 5
Recital 5
(5) Certain coordination provisions should also be introduced for the award of works and services concessions awarded in the water, energy, transport and postal services sectors given that national authorities may influence the behaviour of entities operating in those sectors and taking into account the closed nature of the markets in which they operate, due to the existence of special or exclusive rights granted by the Member States concerning the supply to, provision or operation of networks for providing the services concerned.
Amendment 298 #
2011/0437(COD)
Proposal for a directive
Recital 11
Recital 11
(11) To ensure a real opening up of the market and a fair balance in the application of concession award rules in the water, energy, transport and postal services sectors it is necessary for the entities covered to be identified on a basis other than their legal status. It should be ensured, therefore, that the equal treatment of contracting entities operating in the public sector and those operating in the private sector is not prejudiced. It is also necessary to ensure, in keeping with Article 345 of the Treaty, that the rules governing the system of property ownership in Member States are not prejudiced.
Amendment 329 #
2011/0437(COD)
Proposal for a directive
Recital 20
Recital 20
Amendment 337 #
2011/0437(COD)
Proposal for a directive
Recital 21
Recital 21
(21) In the light of the results of the evaluation conducted by the Commission on the reform of public procurement rules it is appropriate to exclude from the full application of this Directive only those services which have a limited cross-border dimension, namely the so-called services to the person such as certain social, health and educational services. These services are provided within a particular context that varies widely amongst Member States, due to different cultural traditions. A specific regime should therefore be established for concession for these services which takes into account the fact that they are newly regulated. An obligation to publish a prior information notice and a concession award notice of any concession with a value equal to or greater than thresholds established in this Directive is an adequate way to provide information on business opportunities to potential tenderers as well as on the number and type of contracts awarded to all interested parties. Furthermore, Member States should put in place appropriate measures with reference to the award of concession contracts for these services aimed at ensuring compliance with the principles of transparency and equal treatment of economic operators while allowing contracting authorities and contracting entities to take into account the specificities of the services in question. Member States should ensure that contracting authorities and contracting entities may take into account the need to ensure quality, continuity, accessibility, availability and comprehensiveness of the services, the specific needs of different categories of users, the involvement and empowerment of users and innovation.
Amendment 416 #
2011/0437(COD)
Proposal for a directive
Article 2 – paragraph 1 – point 7
Article 2 – paragraph 1 – point 7
(7) 'services concession' means a contract for pecuniary interest concluded in writing between one or more economic operators and one or more contracting authorities or contracting entities and having as their object the provision of services other than those referred to in points 2 and 4 where the consideration for the services to be provided consists either solely in the right to exploit the services that are subject of the contract or in that right together with payment, except in the case of simple approvals, in particular approvals on the use of a public good or a public domain.
Amendment 430 #
2011/0437(COD)
Proposal for a directive
Article 2 – paragraph 2 – subparagraph 1
Article 2 – paragraph 2 – subparagraph 1
The right to exploit the works or services as referred to in points 2, 4 and 7 of the first paragraph shall impliy the transfer to the concessionaire of the substantial operating risk. The concessionaire shall be deemed to assume the substantial operating risk where it is not guaranteed to recoup the investments made or the costs incurred in operating the works or the services which are the subject-matter of the concession; an operating risk which is limited from the outset shall have no effect on this principle.
Amendment 502 #
2011/0437(COD)
Proposal for a directive
Article 8 – paragraph 5 – subparagraph 1 – point a a (new)
Article 8 – paragraph 5 – subparagraph 1 – point a a (new)
(aa) services of general economic interest
Amendment 507 #
2011/0437(COD)
Proposal for a directive
Article 8 – paragraph 5 – subparagraph 1 – point b a (new)
Article 8 – paragraph 5 – subparagraph 1 – point b a (new)
(ba) civil protection, disaster prevention and everyday hazard prevention services;
Amendment 508 #
2011/0437(COD)
Proposal for a directive
Article 8 – paragraph 5 – subparagraph 1 – point c
Article 8 – paragraph 5 – subparagraph 1 – point c
(c) arbitration and conciliation services, legal services and notarial services;
Amendment 514 #
2011/0437(COD)
Proposal for a directive
Article 8 – paragraph 5 – subparagraph 1 – point d
Article 8 – paragraph 5 – subparagraph 1 – point d
(d) financial services in connection with the issue, sale, purchase or transfer of securities or other financial instruments within the meaning of Directive 2004/39/EC of the European Parliament and of the Council, central bank services and operations conducted with the European Financial Stability Facility (EFSF) as well as transactions to raise money or capital for the contracting authority;
Amendment 565 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 1 – subparagraph 1 – point a
Article 15 – paragraph 1 – subparagraph 1 – point a
(a) such an authority or entity exercises over the legal person concerned a control which is similar to that which it exercises over its own departments; this shall be deemed to be the case where it exercises a decisive influence over both strategic objectives and significant decisions of the controlled legal person; with a view to determining whether such control is being exercised, account may also be taken of factors such as the level of representation on administrative, management or supervisory bodies, the relevant provisions of the articles of association or the ownership arrangements; it is not a mandatory requirement that the controlled legal person be wholly owned by the contracting authority or entity.
Amendment 573 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 1 – subparagraph 1 – point b
Article 15 – paragraph 1 – subparagraph 1 – point b
(b) at least 90% of the activities of that legal person which are covered by the contract are carried out for the controlling contracting authority or entity or for other legal persons controlled by that contracting authority or entity;
Amendment 579 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 1 – subparagraph 1 – point c
Article 15 – paragraph 1 – subparagraph 1 – point c
Amendment 588 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 1 – subparagraph 2
Article 15 – paragraph 1 – subparagraph 2
Amendment 596 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 2
Article 15 – paragraph 2
2. Paragraph 1 also applies where a controlled entity which is a contracting authority or contracting entity as referred to in paragraph 1 subparagraph 1 of Article 4 awards a concession to its controlling entityunit(s), or to another legal person controlled by the same contracting authority, provided that there is no private participation in the legal person being awarded the public concession.
Amendment 606 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 3 – subparagraph 1 – point a
Article 15 – paragraph 3 – subparagraph 1 – point a
(a) the contracting authorities or entities as referred to in paragraph 1 subparagraph 1 of Article 4 exercise jointly over the legal person a control which is similar to that which it exercises over its own departments; this shall be deemed to be the case where it exercises a decisive influence over both strategic objectives and significant decisions of the controlled legal person; with a view to determining whether such control is being exercised, account may also be taken of factors such as the level of representation on administrative, management or supervisory bodies, the relevant provisions of the articles of association or the ownership arrangements; it is not a mandatory requirement that the controlled legal person be wholly owned by the contracting authority or entity.
Amendment 613 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 3 – subparagraph 1 – point b
Article 15 – paragraph 3 – subparagraph 1 – point b
(b) at least 90% of the activities of that legal person which are covered by the contract are carried out for the controlling contracting authorities or entities as referred to in paragraph 1 subparagraph 1 of Article 4 or other legal persons controlled by the same contracting authority or entity;
Amendment 618 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 3 – subparagraph 1 – point c
Article 15 – paragraph 3 – subparagraph 1 – point c
Amendment 626 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 3 – subparagraph 2
Article 15 – paragraph 3 – subparagraph 2
Amendment 635 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 4 – point a
Article 15 – paragraph 4 – point a
Amendment 648 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 4 – point b
Article 15 – paragraph 4 – point b
(b) the agreement is governed only by considerations relating to the public interest, and the services and requisite ancillary services relate thereto;
Amendment 654 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 4 – point c
Article 15 – paragraph 4 – point c
Amendment 660 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 4 – point d
Article 15 – paragraph 4 – point d
Amendment 668 #
2011/0437(COD)
Proposal for a directive
Article 15 – paragraph 5
Article 15 – paragraph 5
Amendment 929 #
Amendment 931 #
2011/0437(COD)
Proposal for a directive
Article 44 a (new)
Article 44 a (new)
Article 44a Member States shall ensure that suitable procedures are available to verify the impartiality of the award decision.
Amendment 933 #
Amendment 948 #
2011/0437(COD)
Proposal for a directive
Annex 3 – paragraph 1 – point 4
Annex 3 – paragraph 1 – point 4
Amendment 283 #
2011/0361(COD)
Proposal for a regulation
Article 1 – point 10 – point c
Article 1 – point 10 – point c
Regulation (EC) No 1060/2009
Article 8 – paragraph 5a – subparagraph 2
Article 8 – paragraph 5a – subparagraph 2
After expiry of the consultation period referred to in the first subparagraph, the credit rating agency shall notify ESMA of the results of the consultation and the intended changes or proposed new methodologies.
Amendment 291 #
2011/0361(COD)
Proposal for a regulation
Article 1 – point 10 – point d – point ii
Article 1 – point 10 – point d – point ii
Regulation (EC) No 1060/2009
Article 8 – paragraph 6 – point aa
Article 8 – paragraph 6 – point aa
aa) immediately publish on its website the results of the consultation and the new methodologies together with a detailed explanation thereof;
Amendment 388 #
2011/0361(COD)
Proposal for a regulation
Annex I – point 1 – point b – point ii
Annex I – point 1 – point b – point ii
Regulation (EC) No 1060/2009
Annex I – Section B – point 3 – paragraph 1 – point aa
Annex I – Section B – point 3 – paragraph 1 – point aa
(aa) a shareholder or member of a credit rating agency holding, directly or indirectly, 10% or more of either the capital or the voting rights of that credit rating agency or being otherwise in a position to exercise significant influence on the business activities of the credit rating agency, directly or indirectly owns financial instruments of the rated entity or a related third party or has any other direct or indirect ownership interest in that entity or party, or owns structured financial instruments based on financial instruments or equity shares of the rated entity or third party other than holdings in diversified collective investment schemes, including managed funds such as pension funds or life insurance, which do not put him in a position to exercise significant influence on the business activities of the scheme;
Amendment 391 #
2011/0361(COD)
Proposal for a regulation
Annex I – point 1 – point b – point ii a (new)
Annex I – point 1 – point b – point ii a (new)
Regulation (EC) No 1060/2009
Annex I – Section B – point 3 – paragraph 1 – point ab (new)
Annex I – Section B – point 3 – paragraph 1 – point ab (new)
Amendment 392 #
2011/0361(COD)
Proposal for a regulation
Annex I – point 1 – point b – point ii b (new)
Annex I – point 1 – point b – point ii b (new)
Regulation (EC) No 1060/2009
Annex I – Section B – point 3 – paragraph 1 – point ac (new)
Annex I – Section B – point 3 – paragraph 1 – point ac (new)
(iib) The following point (ac) is inserted after point (a): ‘(ac) the rating agency or persons referred to in paragraph 1 own structured financial instruments based on financial instruments of the rated entity or related third party;’
Amendment 412 #
2011/0361(COD)
Proposal for a regulation
Annex I – point 4 – point g
Annex I – point 4 – point g
Regulation (EC) No 1060/2009
Annex I – Section D – Part I – point 6
Annex I – Section D – Part I – point 6
(6) A credit rating agency shall disclose on its websiteprovide ESMA, on an ongoing basis, with detailed information about all entities or debt instruments submitted to it for their initial review or for preliminary rating. Such disclosureinformation shall be maprovided whether or not issuers contract with the credit rating agency for a final rating.
Amendment 200 #
2011/0359(COD)
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 1
Article 10 – paragraph 3 – subparagraph 1
A statutory auditor or an audit firm carrying out statutory audit of public- interest entities shall not directly or indirectly provide to the audited entity, to its parent undertaking and to its controlled undertakings prohibited non-audit services.
Amendment 204 #
2011/0359(COD)
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 2
Article 10 – paragraph 3 – subparagraph 2
Where the statutory auditor belongs to a network, no member of such network shall provide to the audited entity, to its parent undertaking and to its controlled undertakings within the Union any prohibited non- audit services.
Amendment 206 #
2011/0359(COD)
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 2 a (new)
Article 10 – paragraph 3 – subparagraph 2 a (new)
(2a) A statutory auditor or an audit firm carrying out statutory audit of public- interest entities may directly or indirectly provide to the audited entity, to its parent undertaking and to its controlled undertakings non-audit services only with the audit committee’s explicit authorisation to do so.
Amendment 207 #
2011/0359(COD)
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 2 b (new)
Article 10 – paragraph 3 – subparagraph 2 b (new)
(2b) Where the statutory auditor belongs to a network, a member of such network may provide to the audited entity, to its parent undertaking and to its controlled undertakings within the Union non-audit services only with the audit committee’s explicit authorisation to do so.
Amendment 209 #
2011/0359(COD)
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 3 – introductory part
Article 10 – paragraph 3 – subparagraph 3 – introductory part
For the purposes of this Article, prohibited non-audit services shall mean services entailing conflict of interest in all cases:
Amendment 213 #
2011/0359(COD)
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 3 – point a – introductory part
Article 10 – paragraph 3 – subparagraph 3 – point a – introductory part
(a) services entailing conflict of interest in all casprohibited non-audit services:
Amendment 252 #
2011/0359(COD)
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 3 – point b
Article 10 – paragraph 3 – subparagraph 3 – point b
Amendment 265 #
2011/0359(COD)
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 4
Article 10 – paragraph 3 – subparagraph 4
Amendment 269 #
2011/0359(COD)
Proposal for a regulation
Article 10 – paragraph 3 – subparagraph 5
Article 10 – paragraph 3 – subparagraph 5
Amendment 284 #
2011/0359(COD)
Proposal for a regulation
Article 10 – paragraph 5
Article 10 – paragraph 5
Amendment 300 #
2011/0359(COD)
Proposal for a regulation
Article 11 – paragraph 4 – subparagraph 1 – point c
Article 11 – paragraph 4 – subparagraph 1 – point c
(c) request permission from the audit committee to provide theany non-audit services referred to in Article 10(3)(b)(i) and (ii) to the audited entity;
Amendment 302 #
2011/0359(COD)
Proposal for a regulation
Article 11 – paragraph 4 – subparagraph 1 – point d
Article 11 – paragraph 4 – subparagraph 1 – point d
Amendment 371 #
2011/0359(COD)
Proposal for a regulation
Article 31 – paragraph 5 – point d a (new)
Article 31 – paragraph 5 – point d a (new)
(da) monitor the quality of the statutory auditors or audit firms, taking into account any findings and conclusions by the competent authority pursuant to Article 40(6);
Amendment 377 #
2011/0359(COD)
Proposal for a regulation
Article 32 – paragraph 2 – subparagraph 2
Article 32 – paragraph 2 – subparagraph 2
Amendment 381 #
2011/0359(COD)
Proposal for a regulation
Article 32 – paragraph 2 – subparagraph 3
Article 32 – paragraph 2 – subparagraph 3
When it concerns the renewal of an audit engagement in accordance with the second subparagraph of Article 33(1), the audit committee shall, for the preparation and justification of its recommendation, take into consideration any findings and conclusions on the recommended statutory auditor or audit firm referred to in Article 40(6) and published by the competent authority pursuant to Article 44(d) as well as any findings from the monitoring procedure provided for in Article 31(5) points (d) and (da) (new).
Amendment 386 #
2011/0359(COD)
Proposal for a regulation
Article 32 – paragraph 3 – subparagraph 1 – introductory part
Article 32 – paragraph 3 – subparagraph 1 – introductory part
Amendment 409 #
2011/0359(COD)
Proposal for a regulation
Article 33 – title
Article 33 – title
Amendment 412 #
2011/0359(COD)
Proposal for a regulation
Article 33 – paragraph 1 – subparagraph 1
Article 33 – paragraph 1 – subparagraph 1
Amendment 418 #
2011/0359(COD)
Proposal for a regulation
Article 33 – paragraph 1 a (new)
Article 33 – paragraph 1 a (new)
(1a) Public-interest entities shall conduct a public tendering process for the statutory audit every 15 years following the conditions set out in Article 32.
Amendment 420 #
2011/0359(COD)
Proposal for a regulation
Article 33 – paragraph 1 – subparagraph 2
Article 33 – paragraph 1 – subparagraph 2
Amendment 430 #
2011/0359(COD)
Proposal for a regulation
Article 33 – paragraph 1 – subparagraph 3
Article 33 – paragraph 1 – subparagraph 3
Amendment 439 #
2011/0359(COD)
Proposal for a regulation
Article 33 – paragraph 1 – subparagraph 4
Article 33 – paragraph 1 – subparagraph 4
Amendment 447 #
2011/0359(COD)
Proposal for a regulation
Article 33 – paragraph 2
Article 33 – paragraph 2
Amendment 451 #
2011/0359(COD)
Proposal for a regulation
Article 33 – paragraph 3
Article 33 – paragraph 3
Amendment 402 #
2011/0298(COD)
Proposal for a directive
Article 2 – paragraph 1 – point i – indent 1
Article 2 – paragraph 1 – point i – indent 1
– deal on own account in financial instruments, excluding persons who deal on own account by executing client orders, or
Amendment 411 #
2011/0298(COD)
Proposal for a directive
Article 2 – paragraph 1 – point i – subparagraph 2
Article 2 – paragraph 1 – point i – subparagraph 2
provided that in all cases this is an ancillary activity to their main business, when considered on a consolidated or non- consolidated group basis, and that main business is not the provision of investment services within the meaning of this Directive or banking services under Directive 2006/48/EC;
Amendment 735 #
2011/0298(COD)
Proposal for a directive
Article 24 – paragraph 5 – point i
Article 24 – paragraph 5 – point i
(i) shall assess a sufficiently large number of financial instruments available on the marketcomprehensively assess the relevant market and provide clients with advice which is unbiased and unrestricted. The financial instruments should be diversified with regard to their type and issuers or product providers and should not be limited to financial instruments issued or provided by entities having close links with the investment firm,
Amendment 747 #
2011/0298(COD)
Proposal for a directive
Article 24 – paragraph 5 – point ii
Article 24 – paragraph 5 – point ii
(ii) shall not accept or receive fees, commissions or, any monetary benefits or benefits in kind or other inducements paid or provided by any third party or a person acting on behalf of a third party, or a person having close links with the investment firm, in relation to the provision of the service to clients.
Amendment 183 #
2011/0276(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) For the Partnership Contract and each programme respectively, a Member State should organise a partnership with the representatives ofby concluding a partnership agreement with the competent regional, local, and urban and outhorities. Member States should also cooperate, in accordance with their public authorities,institutional, legal and financial framework, with economic and social partners, other public authorities and bodies representing civil society, including environmental partners, non-governmental organisations, and bodies responsible for promoting equality and non-discrimination. The purpose of such a partnership is to respect the principle of multi-level governance, ensure the ownership of planned interventions by stakeholders and build on the experience and know-how of relevant actors. The Commission should be empowered to adopt delegated acts providing for a code of conduct in order to ensure that partners are involved in the preparation, implementation, monitoring and evaluation of Partnership Contracts and programmes in a consistent manner.
Amendment 402 #
2011/0276(COD)
Proposal for a regulation
Part 2 – article 5 – paragraph 1 – introductory part
Part 2 – article 5 – paragraph 1 – introductory part
1. For the Partnership Contract and each pProgramme respectively, a Member State shall organise a partnership with the following partnersby concluding a partnership agreement with the competent regional, local and urban authorities in accordance with Article 4(4):
Amendment 531 #
2011/0276(COD)
Proposal for a regulation
Part 2 – article 11 – paragraph 1 – point d
Part 2 – article 11 – paragraph 1 – point d
(d) priority areas for cooperation activities for each of the CSF Funds, where appropriate covered by the CSF, taking account of macro-regional and sea basin, metropolitan and sea basin strategies where Member States and regions participate in such strategies;
Amendment 588 #
2011/0276(COD)
Proposal for a regulation
Part 2 – article 14 – paragraph 1 – point a – point v
Part 2 – article 14 – paragraph 1 – point a – point v
v) the main priority areas for cooperation activities, where appropriate, taking account of macro-regional, metropolitan and sea basin strategies in the event that Member States and regions participate in such strategies;
Amendment 884 #
2011/0276(COD)
Proposal for a regulation
Part 2 – article 35 – paragraph 2
Part 2 – article 35 – paragraph 2
2. As regards financial instruments referred to in Article 33(1)(b) implemented in accordance with Article 33(4)(a) and (b), the total eligible expenditure presented in the request for payment shall include and separately disclose the total amount of support paid or expected to be paid to the financial instrument for investments in final recipients to be made over a pre- defined period of maximum twohree years, including management costs or fees.
Amendment 1079 #
2011/0276(COD)
Proposal for a regulation
Part 2 – article 58 – paragraph 1 – point a
Part 2 – article 58 – paragraph 1 – point a
(a) a flat rate of up to 205 % of eligible direct costs, where the rate is calculated on the basis of a fair, equitable and verifiable calculation method or a method applied under schemes for grants funded entirely by the Member State for a similar type of operation and beneficiary;
Amendment 1082 #
2011/0276(COD)
Proposal for a regulation
Part 2 – article 58 – paragraph 1 – point b
Part 2 – article 58 – paragraph 1 – point b
(b) a flat rate of up to 1520 % of eligible direct staff costs;
Amendment 1088 #
2011/0276(COD)
Proposal for a regulation
Part 2 – article 59 – paragraph 3 – point b
Part 2 – article 59 – paragraph 3 – point b
(b) the purchase of land not built on and land built on in the amount which, in respect of the land alone, exceedings 10% of the total eligible expenditure for the operation concerned. In exceptional and duly justified cases, a higher percentage may be permitted for operations concerning environmental conservation;
Amendment 1160 #
2011/0276(COD)
Proposal for a regulation
Part 2 – article 75 – paragraph 1 – introductory part
Part 2 – article 75 – paragraph 1 – introductory part
1. By 1 FebruaryMarch of the year following the end of the accounting period, the Member State shall submit to the Commission the following documents and information in accordance with [Article 56] of the Financial Regulation:
Amendment 1376 #
2011/0276(COD)
Proposal for a regulation
Part 3 – article 87 – paragraph 2 – point c – point iii
Part 3 – article 87 – paragraph 2 – point c – point iii
iii) than indicative list of cities, functional urban areas and other functional territorial areas under the criteria defined in Article 14 Letter b point ii, where integrated actions for sustainable urban, regional or territorial development will be implemented, the indicative annual allocation of the ERDF support for these actions, including the resources delegated to cities for managementother existing institutions under Article 7(2) of Regulation (EU) No […] [ERDF] for the management of functional urban areas and other functional territorial areas and the indicative annual allocation of ESF support for integrated actions;
Amendment 1502 #
2011/0276(COD)
Proposal for a regulation
Part 3 – article 99 – paragraph 2
Part 3 – article 99 – paragraph 2
2. The relevant operational programmes shall identify the ITIs planned on the basis of the indicative list of cities, functional urban areas or other functional territorial areas where ITI is to take place, and shall set out the indicative financial allocation fromto each priority axis to each ITIITI. Investment priorities for all thematic objectives according to Article 9 can be combined and implemented within an ITI, irrespective of the priority axes of the operational programmes.
Amendment 1548 #
2011/0276(COD)
Proposal for a regulation
Part 3 – article 102 – paragraph 1 – introductory part
Part 3 – article 102 – paragraph 1 – introductory part
1. By 31 January, 30 April, 31 July0 April and 31 October, the managing authority shall transmit electronically to the Commission for monitoring purposes, for each operational programme and by priority axis:
Amendment 1552 #
2011/0276(COD)
Proposal for a regulation
Part 3 – article 102 – paragraph 2
Part 3 – article 102 – paragraph 2
2. In addition, the transmission on 31 January0 April shall contain the above data broken down by category of intervention. This transmission shall be considered to fulfil the requirement for the submission of financial data referred to in Article 44(2).
Amendment 1554 #
2011/0276(COD)
Proposal for a regulation
Part 3 – article 102 – paragraph 3
Part 3 – article 102 – paragraph 3
3. A forecast of the amount for which Member States expect to submit payment applications for the current financial year and the subsequent financial year shall accompany the transmissions to be made by 31 January and 31 July0 April.
Amendment 1646 #
2011/0276(COD)
Proposal for a regulation
Part 3 – article 112 – paragraph 2 – subparagraph 1
Part 3 – article 112 – paragraph 2 – subparagraph 1
Member States shall prevent, detect and correct irregularities and shall recover amounts unduly paid, together with any interest on late payments. If, in individual cases, funds are incorrectly allocated, as a result of rounding or accounting errors or because expenditure is ineligible for funding, it is not necessary to return this money and such cases will not be pursued provided the funds do not exceed EUR 250. This limit for small claims also applies to the relevant interest if the expected interest is not greater than EUR 250. This expenditure may not be deducted from the expenses declared in the declarations of expenditure. They shall notify these irregularities to the Commission and shall keep the Commission informed of the progress of related administrative and legal proceedings.
Amendment 1649 #
2011/0276(COD)
Proposal for a regulation
Part 3 – article 112 – paragraph 3 – subparagraph 1
Part 3 – article 112 – paragraph 3 – subparagraph 1
Member States shall ensure that no later than 31 December 20146, all exchanges of information between beneficiaries and managing authorities, certifying authorities, audit authorities and intermediate bodies can be carried out solely by means of electronic data exchange systems.
Amendment 1802 #
2011/0276(COD)
Proposal for a regulation
Part 4 – article 142 – paragraph 1
Part 4 – article 142 – paragraph 1
1. The powers to adopt delegated acts are conferred on the Commission subject to the conditions laid down in this Article and shall not apply retrospectively.
Amendment 1877 #
2011/0276(COD)
Proposal for a regulation
Annex V – part 4 – paragraph 1 – point i
Annex V – part 4 – paragraph 1 – point i
(i) an annual update setting out the information and communication activities to be carried out, as envisaged at the time the update was completed.
Amendment 85 #
2011/0275(COD)
Proposal for a regulation
Recital 7
Recital 7
(7) Within the framework of sustainable urban development, it is considered necessary to support integrated actions to tackle the economic, environmental, climate and social challenges affecting urban areas and to define a procedure to establish the list of citieselect the functional urban and other functional territorial areas covered by such actions and the financial allocation set aside for such actions.
Amendment 95 #
2011/0275(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) In order to identify or test new solutions to issues relating to sustainable urban, territorial or regional development which are of relevance at Union level, the ERDF should support innovative actions in the field of sustainable urban, territorial or regional development.
Amendment 153 #
2011/0275(COD)
Proposal for a regulation
Article 3 – paragraph 1 – subparagraph 1 – point b
Article 3 – paragraph 1 – subparagraph 1 – point b
(b) investments in economic infrastructure and in providing basic services to citizens in the areas of energy, environment, transport, and information and communication technologies (ICT);
Amendment 218 #
2011/0275(COD)
Proposal for a regulation
Article 3 – paragraph 1 – subparagraph 2
Article 3 – paragraph 1 – subparagraph 2
Amendment 343 #
2011/0275(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 1 – point b
Article 5 – paragraph 1 – point 1 – point b
(b) promoting business R&I investment in private and public businesses, product and service development, technology transfer, social innovation and public service applications, demand stimulation, networking, clusters and open innovation through smart specialisation
Amendment 357 #
2011/0275(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 1 – point c
Article 5 – paragraph 1 – point 1 – point c
(c) supporting technological and applied research and its implementation even in the public sector, pilot lines, early product validation actions, advanced manufacturing capabilities and first production in Key Enabling Technologies and diffusion of general purpose technologies
Amendment 434 #
2011/0275(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 4 – introductory part
Article 5 – paragraph 1 – point 4 – introductory part
(4) supporting the shift towards a low- carbon economy and increased resource efficiency in all sectors;:
Amendment 438 #
2011/0275(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 4 – point a
Article 5 – paragraph 1 – point 4 – point a
(a) promoting the production and distribution of energy and raw materials from renewable energy sources;
Amendment 448 #
2011/0275(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 4 – point b
Article 5 – paragraph 1 – point 4 – point b
(b) promoting energy and resource efficiency and the use of renewable energy useand resources in SMEs;
Amendment 470 #
2011/0275(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 4 – point e
Article 5 – paragraph 1 – point 4 – point e
(e) promoting low-carbon strategies for urban areas and other functional territorial areas.
Amendment 531 #
2011/0275(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 6 – point e
Article 5 – paragraph 1 – point 6 – point e
(e) action to improve the urban environment, including regeneration of brownfield sites and, reduction of air pollution and urban revitalisation, including areas where redevelopment is planned.
Amendment 678 #
2011/0275(COD)
Proposal for a regulation
Article 7 – paragraph 1
Article 7 – paragraph 1
1. The ERDF shall support, within operational programmes, sustainable urban, regional and territorial development through strategies setting out integrated actions to tackle the economic, environmental, climateic and social challenges affecting urban and other functional territorial areas.
Amendment 693 #
2011/0275(COD)
Proposal for a regulation
Article 7 – paragraph 2 – subparagraph 1
Article 7 – paragraph 2 – subparagraph 1
Each Member State shall establish in its Partnership Contract a list of citiesriteria for selecting cities, functional urban areas and other functional territorial areas, where integrated actions for sustainable urban, regional or territorial development are to be implemented and an indicative annual allocation for these actions at national levelthe level of operational programmes.
Amendment 707 #
2011/0275(COD)
Proposal for a regulation
Article 7 – paragraph 2 – subparagraph 2
Article 7 – paragraph 2 – subparagraph 2
At least 5% of the ERDF resources allocated at national level shall be allocated to integrated actions for sustainable urban, regional or territorial development that can be delegated to cities for management through Integrated Territorial Investments referred to inor other existing institutions that manage functional urban and other functional territorial areas in line with Article 113(6) of Regulation (EU) No […]/2012 [CPR] according to Article 99113(7) of Regulation (EU) No […]/2012 [CPR].
Amendment 169 #
2011/0273(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point a
Article 5 – paragraph 1 – point a
(a) up to 46 thematic objectives shall be selected for each cross-border cooperation programme;
Amendment 216 #
2011/0202(COD)
Proposal for a regulation
Recital 89
Recital 89
(89) The Commission should adopt the draft regulatory technical standards developed by EBA in the areas of cooperative societies, savings banks or similar institutions, certain own funds instruments, prudential adjustments, deductions from own funds, additional own funds instruments, minority interests, services ancillary to banking, the treatment of credit risk adjustment, probability of default, loss given default, corporate Governance, approaches to risk- weighting of assets, convergence of supervisory practices, liquidity, and transitional arrangements for own funds, by means of delegated acts pursuant to Article 290 TFEU and in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level. The Commission and EBA should draft the regulatory technical standards in such a way that they take proper account of the nature, scale and complexity of the institutions and can be implemented by all the institutions concerned.
Amendment 372 #
2011/0202(COD)
Proposal for a regulation
Article 25 – title
Article 25 – title
Capital instruments of mutuals, cooperative societies, savings banks or similar institutions in Common Equity Tier 1 items
Amendment 377 #
2011/0202(COD)
Proposal for a regulation
Article 25 – paragraph 1 – point a
Article 25 – paragraph 1 – point a
(a) the institution is of a type that is defined under applicable national law and which competent authorities consider to qualify as a mutual, cooperative society, savings banks or a similar institution for the purposes of this Part;
Amendment 381 #
2011/0202(COD)
Proposal for a regulation
Article 25 – paragraph 1 – point b
Article 25 – paragraph 1 – point b
(b) the conditions laid down in Articles 26 and 27 are met, taking account of its specific statutes and legal form;
Amendment 398 #
2011/0202(COD)
Proposal for a regulation
Article 27 – title
Article 27 – title
Capital instruments issued by mutuals, cooperative societies, savings banks and similar institutions
Amendment 404 #
2011/0202(COD)
Proposal for a regulation
Article 27 – paragraph 1
Article 27 – paragraph 1
1. Capital instruments issued by mutuals, cooperative societies, savings banks and similar institutions shall qualify as Common Equity Tier 1 instruments only if the conditions laid down in Article 26 and this Article are met.
Amendment 471 #
2011/0202(COD)
Proposal for a regulation
Article 46 – paragraph 3 – point b – point i
Article 46 – paragraph 3 – point b – point i
Amendment 480 #
2011/0202(COD)
Proposal for a regulation
Article 46 – paragraph 3 – point b – point v
Article 46 – paragraph 3 – point b – point v
v) the institution draws up andthe reports to the competent authorities the consolidated balance sheet referred to in point (e) of Article 108(7) no less frequently than own funds requirements are required to be reported under in accordance with point (e) of Article 108(7) and demonstrates that there is neither multiple gearing of elements eligible for the calculation of own funds nor any inappropriate creation of own funds between institutions and reports these documents to the competent authorities no less frequently than stipulated under point (e) of Article 95; 108(7);
Amendment 506 #
2011/0202(COD)
Proposal for a regulation
Article 59 – paragraph 1 – point b a (new)
Article 59 – paragraph 1 – point b a (new)
(ba) prudential reserves linked to the fact that exposures are being shown at a lower value, in accordance with Article 37(2) of Directive 86/635/EEC.
Amendment 618 #
2011/0202(COD)
Proposal for a regulation
Article 111 – paragraph 4
Article 111 – paragraph 4
4. Exposures to public-sector entities may be treated as exposures to the central government in whose jurisdiction they are established, or to the relevant regional government or local authorities, where there is no difference in risk between such exposures because of the existence of an appropriate guarantee by the central government or the relevant regional government or local authorities.
Amendment 630 #
2011/0202(COD)
Proposal for a regulation
Article 115 – paragraph 3 a (new)
Article 115 – paragraph 3 a (new)
3a. Exposures to promotional banks made available in the context of public programmes or in accordance with the statutes of the promotional bank shall be assigned a risk weight pursuant to Article 109.
Amendment 640 #
2011/0202(COD)
Proposal for a regulation
Article 118 – paragraph 1 – introductory part
Article 118 – paragraph 1 – introductory part
Exposures that comply with the following criteria shall be assigned a risk weight of 750 %:
Amendment 658 #
2011/0202(COD)
Proposal for a regulation
Article 118 – paragraph 1 a (new)
Article 118 – paragraph 1 a (new)
An exposure which meets the criteria laid down in paragraph 1(a) and (b) shall be assigned a risk weight of 75 % if, to the institution’s knowledge, the total amount owed to the institution and to the parent company and its subsidiaries by the client or group of connected clients, including defaulted exposure, but excluding claims or contingent claims secured on residential property collateral, is more than EUR 1 million but does not exceed EUR 5 million. The institution shall take reasonable steps to confirm this situation.
Amendment 677 #
2011/0202(COD)
Proposal for a regulation
Article 120 – paragraph 3 – introductory part
Article 120 – paragraph 3 – introductory part
3. Institutions may derogate from paragraph 1 and point (b) in paragraph 2 for exposures fully and completely secured by mortgages on residential property which is situated within the territory of a Member State, where the competent authority of that Member State gives its approval and has published evidence showing that a well-developed and long- established residential property market is present in that territory with loss rates which do not exceed the following limits:
Amendment 687 #
2011/0202(COD)
Proposal for a regulation
Article 121 – paragraph 3 – introductory part
Article 121 – paragraph 3 – introductory part
3. Institutions may derogate from paragraph 1 and point (b) in paragraph 2 for exposures fully and completely secured by mortgages on commercresidential property which is situated within the territory of a Member State, where the competent authority of that Member State gives its approval and has published evidence showing that a well-developed and long- established commercial immovableresidential property market is present in that territory with loss rates which do not exceed the following limits:
Amendment 731 #
2011/0202(COD)
Proposal for a regulation
Article 142 – paragraph 5 – subparagraph 1 – point a – point ii
Article 142 – paragraph 5 – subparagraph 1 – point a – point ii
ii) to a small or medium sized enterprise, provided in the latter case that the total amount owed to the institution and parent undertakings and its subsidiaries, including any past due exposure, by the obligor client or group of connected clients, but excluding claims or contingent claims secured on residential property collateral, shall not, to the knowledge of the institution, which shall have taken reasonable steps to confirm the situation, exceed EUR 15 million;
Amendment 744 #
2011/0202(COD)
Proposal for a regulation
Article 149 – paragraph 1
Article 149 – paragraph 1
1. The risk-weighted exposure amounts for retail exposures pursuant to Article 142(5)(a)(i) and for retail exposures pursuant to Article 142(5)(a)(ii) in respect of which the total amount owed does not exceed EUR 1 million shall be calculated according to the following formulae: Risk-weighted exposure amount = RW exposure value where the risk weight RW is defined as follows: (i) if PD = 0, RW shall be 0; ii) if PD = 1, i.e., for defaulted exposures, RW shall be RW = max{0,12.5 ⋅ (LGD − ELBE )}; where ELBE shall be the institution's best estimate of expected loss for the defaulted exposure according to Article 177(1)(h); iii) if PD ∈ ]0%;100%[ , i.e., for any value other than under (i) or (ii) 1 ⋅ G (PD ) + ⋅ G (0 .999 ) − LGD ⋅ PD ⋅ 12.5 ⋅ 1.06 R RW = LGD ⋅ N ⋅ 12 . 5 ⋅ 0 .7619 1− R 1− R where N(x) = the cumulative distribution function for a standard normal random variable (i.e. the probability that a normal random variable with mean zero and variance of one is less than or equal to x); the inverse cumulative distribution function for a standard normal random variable (i.e. the value x such that N(x) z); denotes the coefficient of correlation, is defined as b = 1 − e −35⋅PD 1 − e −35⋅PD R = 0.03 ⋅ + 0 . 16 ⋅ 1 − 1 − e − 35 1 − e − 35
Amendment 746 #
2011/0202(COD)
Proposal for a regulation
Article 149 – paragraph 1a (new)
Article 149 – paragraph 1a (new)
1 a. The risk-weighted exposure amounts for retail exposures pursuant to Article 142(5)(a)(ii) in respect of which the total amount owed is more than EUR 1 million but does not exceed EUR 5 million shall be calculated according to the following formulae Risk-weighted exposure amount = RW exposure value where the risk weight RW is defined as follows: (i) if PD = 0, RW shall be 0; ii) if PD = 1, i.e., for defaulted exposures, RW shall be RW = max{0,12.5 ⋅ (LGD − ELBE )}; where ELBE shall be the institution's best estimate of expected loss for the defaulted exposure according to Article 177(1)(h); iii) if PD ∈ ]0%;100%[ , i.e., for any value other than under (i) or (ii) 1 ⋅ G (PD ) + ⋅ G (0.999 ) − LGD ⋅ PD ⋅ 12.5 ⋅ 1.06 R RW = LGD ⋅ N 1− R 1− R where N(x) denotes the cumulative distribution function for a standard normal random variable (i.e. the probability that a normal random variable with mean zero and variance of one is less than or equal to x); G(z) denotes the inverse cumulative distribution function for a standard normal random variable (i.e. the value x such that N(x) z) R = denotes the coefficient of correlation, is defined as b = 1 − e −35⋅PD 1 − e −35⋅PD R = 0.03 ⋅ + 0 .16 ⋅ 1 − 1 − e − 35 1 − e − 35
Amendment 949 #
2011/0202(COD)
Proposal for a regulation
Article 404 – paragraph 1 – subparagraph 1 – point b
Article 404 – paragraph 1 – subparagraph 1 – point b
(b) transferable assets that are of extremely high liquidity and credit quality;
Amendment 965 #
2011/0202(COD)
Proposal for a regulation
Article 404 – paragraph 1 – subparagraph 1 – point d
Article 404 – paragraph 1 – subparagraph 1 – point d
(d) transferable assets that are of high liquidity and credit quality.
Amendment 988 #
2011/0202(COD)
Proposal for a regulation
Article 404 – paragraph 1 – subparagraph 2
Article 404 – paragraph 1 – subparagraph 2
Pending a uniform definition in accordance with Article 481(2) of high and extremely high liquidity and credit quality, institutions shall identify themselves in a given currency transferable assets that are respectively of high or extremely high liquidity and credit quality. Pending a uniform definition, competent authorities may, taking into account the criteria listed in Article 481(2), provide general guidance that institutions shall follow in identifying assets of high and extremely high liquidity and credit quality. In the absence of such guidance, institutions shall use transparent and objective criteria to this end, including some or all of the criteria listed in Article 481(2).
Amendment 1325 #
2011/0202(COD)
Proposal for a regulation
Article 436
Article 436
Amendment 1524 #
2011/0202(COD)
Proposal for a regulation
Article 481 – paragraph 2 – introductory part
Article 481 – paragraph 2 – introductory part
2. EBA and EMSA shall, by 31 December 2013, report to the Commission on appropriate uniform definitions of high and of extremely high liquidity and credit quality of transferable assets for purposes of Article 404. EBquality of transferable assets for purposes of Article 404, taking into account all relevant factors such as the applicable legal framework, incentive structures, available market initiatives and tools designed to enhance transparency and liquidity of assets. In particular, steps should be taken to determine whether gold, shares, covered or guaranteed bonds, mortgage bonds and corporate bonds and funds based on such assets can be regarded as eligible assets within the meaning of Article 404(3), how volatile such assets are compared to other assets and what haircuts are possible. In addition, the effectiveness and adequacy in stress situations of contractual and non- contractual precautions to safeguard the liquidity of groups should be assessed. EBA and ESMA shall in particular test the adequacy of the following criteria and the appropriate levels for such definitions:
Amendment 1568 #
2011/0202(COD)
Proposal for a regulation
Article 482 – paragraph 1
Article 482 – paragraph 1
1. TOn the basis of the EBA report provided for in paragraph 2, the Commission shall submit by 31 December 2016 a report on the impact and effectiveness of the leverage ratio to the European Parliament and the Council. Where appropriate, the report shall be accompanied by a legislative proposal on the introduction of one or more levels for the leverage ratio that institutions would be required to meet, suggesting an adequate calibration for those levels and any appropriate adjustments to the capital measure and the total exposure measure as defined in Article 416.
Amendment 1576 #
2011/0202(COD)
Proposal for a regulation
Article 482 – paragraph 2 – point f
Article 482 – paragraph 2 – point f
(f) whether theat frequency and format of the disclosure of items referred to in Article 436 are adequate;
Amendment 1582 #
2011/0202(COD)
Proposal for a regulation
Article 482 – paragraph 2 – point g a (new)
Article 482 – paragraph 2 – point g a (new)
(ga) whether, in view of the differences in accounting standards and financing and refinancing arrangements, the introduction of a standard international leverage ratio would be appropriate;
Amendment 1589 #
2011/0202(COD)
Proposal for a regulation
Article 482 – paragraph 2 – point i
Article 482 – paragraph 2 – point i
(i) whether introducing the leverage ratio as a requirement for institutions would effectively constrain the risk of excessive leverage on the part of those institutions and, if so, whether the level for the leverage ratio should be the same for all institutions or should differ for different types and sizes of institution and, in the latter for different business models and, in such cases, what additional calibrations would be required.
Amendment 1594 #
2011/0202(COD)
Proposal for a regulation
Article 482 – paragraph 3 – point a – point iii
Article 482 – paragraph 3 – point a – point iii
(iii) business models and balance-sheet structures of institutions; in particular as regards low-risk areas of business, such as start-up loans, municipal loans, financing of residential property and other low-risk areas regulated under national law;
Amendment 188 #
2011/0092(CNS)
Proposal for a directive
Article 1 – point 13 – point a – point ii
Article 1 – point 13 – point a – point ii
Directive 2003/96/EC
Article 15 – paragraph 1 subparagraph 2
Article 15 – paragraph 1 subparagraph 2
"Points (a) to, (b), (e) and (g) only apply for general energy consumption taxation."
Amendment 255 #
2011/0062(COD)
Proposal for a directive
Recital 32 a (new)
Recital 32 a (new)
(32a) Consumers shall have the right to discharge their obligations under a credit agreement prior to the expiry of that agreement. In the case of credit agreements with a fixed borrowing rate, Member States may make the exercise of that right contingent on the existence of a valid interest on the part of the consumer, for example the sale of the item of immovable property on grounds of a change in personal circumstances (e.g. moving house, loss of employment, illness or divorce). The wish to pay a lower borrowing rate shall not in itself be deemed to constitute a valid interest.
Amendment 259 #
2011/0062(COD)
Proposal for a directive
Recital 32 b (new)
Recital 32 b (new)
(32b) Compensation payments in the event of early repayment must be objectively justified and calculated in a readily understandable way. The factors taken into account in such calculation must include possible advantages to the creditor, for example if the repayment is made at a time when market conditions favour the creditor.
Amendment 302 #
2011/0062(COD)
Proposal for a directive
Article 2 – paragraph 2 – point b a (new)
Article 2 – paragraph 2 – point b a (new)
(ba) ‘Start-up loans’ granted to a restricted customer segment, under statutory conditions and for a general interest purpose, free of interest, at a rate of interest lower than that prevailing on the market or at rates of interest no higher than those prevailing on the market.
Amendment 329 #
2011/0062(COD)
Proposal for a directive
Article 3 – paragraph 1 – point l a (new)
Article 3 – paragraph 1 – point l a (new)
(la) 'Compensation payment' means compensation for objectively justified costs, calculated in a readily understandable way, that are directly linked to early repayment of credit, including any loss of interest, if the repayment falls within a period for which the borrowing rate is fixed. In calculating the compensation payment, possible benefits for the creditor shall be taken into account, for example if the repayment is made at a time when market conditions are favourable to the creditor.
Amendment 347 #
2011/0062(COD)
Proposal for a directive
Article 4 – paragraph 1 – subparagraph 1
Article 4 – paragraph 1 – subparagraph 1
Member States shall designate the competent authorities empowered to ensure the national implementation and enforcement of this Directive and shall ensure that they are granted all the powers and resources necessary for the efficient and effective performance of their duties.
Amendment 470 #
2011/0062(COD)
Proposal for a directive
Article 9 – paragraph 2 – subparagraph 2
Article 9 – paragraph 2 – subparagraph 2
Member States shall ensure that wthen an offer binding on the creditor is provi credit agreement can only be concluded toif the consumer, it shall be accompanied by an ESIS. In such circumstances, Member States shall ensure that the credit agreement cannot be concluded until the consumer has been provided in a durable medium with an offer binding on the creditor and has had sufficient time to compare it with other offers, obtain third party advice if necessary and assess theirits implications and take an informed decision on whether to accept anthe offer, regardless of the means of conclusion of the contract, or if the consumer has been granted an adequate right of withdrawal following the conclusion of the agreement. In the case of a pre-contractual period of reflection, this shall be no less than 14 working days after the offer has been made.
Amendment 656 #
2011/0062(COD)
Proposal for a directive
Article 18 – paragraph 1
Article 18 – paragraph 1
1. Member States shall ensure that the consumer has a statutory or contractualthe right to discharge his obligations under a credit agreement prior to the expiry of that agreement. In suchthe cases, he shall be entitled to a reduction in the total cost of the credit, such a reduction consisting of the interest and the costs for the remain of credit agreements with a fixed borrowing rate, Member States may make the exercise of that right subject to the existence of a legitimate interest on the part of the consumer (for example the sale of the item of immovable property), in which connection the wish to pay a lower borrowing duration of the contrace shall not in itself be deemed to constitute a legitimate interest.
Amendment 670 #
2011/0062(COD)
Proposal for a directive
Article 18 – paragraph 2 – subparagraph 1
Article 18 – paragraph 2 – subparagraph 1
Member States may providshall ensure that in the exercise of the right referred to context of early repayment the followin g paragraph 1 is subject to certain conditions. Such conditions may include time limitations on the exercise of the right, different treatment depending on the type of the borrowing rate, or restrictions with regard to the circumstances under which the right may be exercised. Member States may also provide that the creditor should be entitled to fair and objectively justified compensation for potential costs directly linked to early repayment of the credit. In any event, if the early repayment falls within a period for which the borrowing rate is fixed, exercise of the right may be made subject to the existence of a special interest on the part of the consumerrinciples are observed: (a) no penalties may be imposed; (b) in the case of credit agreements with a fixed borrowing rate, the creditor may, if appropriate, demand a compensation payment. The compensation payment must be objectively justified and calculated in a readily understandable way, in which connection only costs directly linked to early repayment of the credit, including loss of interest, may be claimed and, if appropriate, due account must be taken of benefits for the creditor in the form of favourable market conditions at the time repayment is made; (c) Member States may limit or rule out compensation payments; (d) in the case of credit agreements with a variable borrowing rate, compensation payments shall be ruled out; (e) the consumer must be informed prior to the conclusion of the agreement of the conditions governing early repayment and the method of calculating possible compensation payments.
Amendment 677 #
2011/0062(COD)
Proposal for a directive
Article 18 – paragraph 2 – subparagraph 2
Article 18 – paragraph 2 – subparagraph 2
Amendment 696 #
2011/0062(COD)
Proposal for a directive
Article 18 d (new)
Article 18 d (new)
Article 18d Payment flexibility Member States shall ensure that creditors allow consumers to make payments which exceed the amount required by the amortisation structure of the loan contained in the credit agreement without penalty so that consumers subsequently have the right to redeem the payments scheduled in accordance with the amortisation structure up to the value by which they have previously exceeded the required amount. In the case of credit agreements with a fixed borrowing rate, Member States shall ensure that the repayment flexibility arrangements are not used to avoid making compensation payments which may be required to the creditor.
Amendment 701 #
2011/0062(COD)
Proposal for a directive
Article 18 c (new)
Article 18 c (new)
Article 18 c Switching of creditor 1. Member States may foresee that creditors can transfer credit agreements or portfolios of credit agreement to other financial institutions but only with the clear consent of the consumer and only as long as the loan conditions are not altered to the disadvantage of the consumer. This paragraph shall be without prejudice to Article 122a of Directive 2006/48/EC. Member States shall ensure that mortgages portfolios are transferable to a new lender without registration of a new mortgage deed for each loan in the transferred portfolio. 2. Unless in the case of credit agreements with a fixed rate, Member States shall ensure that consumers also have the right to transfer a credit agreement to a new creditor which is prepared to accept the transfer and which makes a binding offer to the consumer provided that (a) the binding offer significantly improves the economic conditions for the consumer either by an improvement of at least 100 basis points in the interest rate or by an extension or reduction of more than a third in the length of the repayment period for the outstanding debt; (b) the creditor refuses to make a binding offer before the expiry of the offer made by the new creditor which at least matches the terms of the binding offer made by the new creditor; and (c) the creditor receives adequate compensation where appropriate according to national law. Member States shall ensure in such cases that the compensation does not constitute a penalisation of the consumer and that once a credit agreement has been in force for five years the compensation shall not be higher than 1 % of the outstanding debt.
Amendment 706 #
2011/0062(COD)
Proposal for a directive
Article 18 a (new)
Article 18 a (new)
Amendment 708 #
2011/0062(COD)
Proposal for a directive
Article 18 b (new)
Article 18 b (new)
Article 18b Registers of credit agreements related to residential immovable property 1. Member States shall ensure that the commencement, modification or termination of any credit agreement located in their territory is reported to a register designated by the Member State. 2. Such reports shall contain at least the following information: (a) the EMKI; (b) the identification of the residential immovable property to which the credit agreement relates; (c) the amount of the loan; (d) the maturity of the loan; (e) the currency in which the loan is denominated; (f) the creditor who granted the credit; (g) the consumer who has taken out the loan. 3. This information must be available on a centralised basis to the parties to the agreement, credit intermediaries and creditors who are directly involved, holders of rights under the agreement or to the item of immovable residential property in question and the competent authorities. If loans are securitised or sold on, with the consent of the current creditor potential buyers shall be given access to information relevant to them. 4. Member States shall ensure that the consumer's personal rights are safeguarded.
Amendment 40 #
2011/0038(COD)
Proposal for a directive – amending act
Recital 9
Recital 9
(9) Cross-border access to business information can only be improved if all Member States engage in building an electronic network of registers and transmit information to business information users in a standardised way (similar content and interoperable technologies) all over the Union. The users should be able to access information through a single European electronic platform that forms part of the electronic network. If possible, the electronic network should be build upon existing structures, so as to avoid unnecessary costs.
Amendment 46 #
2011/0038(COD)
Proposal for a directive – amending act
Article 1 – point 2
Article 1 – point 2
Directive 89/666/EEC
Article 5 a – paragraph 1
Article 5 a – paragraph 1
1. The register of the branch shall notify, without delay and in any case within 10 working days at the latest, through the electronic network referred to in Article 4a of Directive 2009/101/EC of the European Parliament and of the Council, the register of the company of any changes in the documents and particulars listed in Article 2 of this Directive.
Amendment 47 #
2011/0038(COD)
Proposal for a directive – amending act
Article 1 – point 2
Article 1 – point 2
Directive 89/666/EEC
Article 5 a – paragraph 2
Article 5 a – paragraph 2
2. Member States shall determine the legal procedure to be followed on receipt of the notifications referred to in paragraph 1 of this Article and in Article 4a(2) of Directive 2009/101/EC. Such procedures shall ensure that branches of companies that have been dissolved or otherwise removed from the register are closed and themselves removed from the register without undue delay.
Amendment 49 #
2011/0038(COD)
Proposal for a directive – amending act
Article 2 – point 1
Article 2 – point 1
Directive 2005/56/EC
Article 13 – paragraph 1 – subparagraph 2
Article 13 – paragraph 1 – subparagraph 2
The registry for the registration of the company resulting from the cross-border merger shall notify, without delay and in any case within 10 working days at the latest, through the electronic network referred to in Article 4a of Directive 2009/101/EC, the registry in which each of the companies was required to file documents that the cross- border merger has taken effect. Deletion of the old registration, if applicable, shall be effected on receipt of that notification, but not before.
Amendment 50 #
2011/0038(COD)
Proposal for a directive – amending act
Article 3 – point 4
Article 3 – point 4
Directive 2009/101/EC
Article 4 a – paragraph 2
Article 4 a – paragraph 2
2. The register of the company shall notify, without delay and in any case within 10 working days at the latest, through the electronic network the register of its branch about any changes in the documents and particulars listed in Article 2 of Directive 89/666/EEC(*).
Amendment 8 #
2010/2305(INI)
Motion for a resolution
Recital B
Recital B
B. whereas absorption capacity is not a parameter but a variable and whereas it differs widely between and within the different Member States, so that individual solutions are necessary to increase this capacity,
Amendment 37 #
2010/2305(INI)
Motion for a resolution
Paragraph 2 – point 8 a (new)
Paragraph 2 – point 8 a (new)
insufficient involvement of the regional and local level in the establishment of the operational programmes;
Amendment 94 #
2010/2305(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Reiterates that multi-level governance and the partnership principle are key elements in the effectiveness of operational programmes and in high absorption capacity; recommends tocalls on the Members States that they consistentlyo reinforce the partnership and transparency principle, while establishing and implementing the operational programmes, and that theyerefore to involve the sub-nationregional and local levels from the outset, in defa binding investment priorities, in the decision-making process itself and in the, comprehensive and sustainable manner, in all phases of the establishment and implementation of operational programmes;
Amendment 4 #
2010/2158(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the EU can be characterised by its polycentric development and variety of different sized urban areas and cities that have heterogenic competences and resources; expresses the view that it would be inappropriate and even problematic to adopt a common definition of "urban areas", purely on a statistical basis, which is why there should be a look into how a functional approach can lead to a standard definition of "urban" areas"nd thus create the basis for a clear statutory definition of the urban dimension of EU policy,
Amendment 11 #
2010/2158(INI)
Motion for a resolution
Recital D
Recital D
D. whereas mainstreaming has clearly expanded the available funding for cities, although the integrated approach to urban development risks to get lost due to a strengthened sectoral focus in the individual operational programmes and, in terms of substance, mainstreaming remains inadequate and accordingly must continue to be expanded,
Amendment 69 #
2010/2158(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses the fact that local elected authorities have direct political accountability in terms of strategic decision-making and investing public resources; therefore for reaching the goals of Cohesion Policy and EU 2020 Strategy there must be obligatory involvement of local elected bodies in the strategic decision making process, close involvement in drawing up operational programmes and the broad use of the option of sub-delegated responsibilities in the implementation and evaluation of the Cohesion Policy;
Amendment 1 #
2010/2055(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Welcomes the fact that the Commission ihas carryingied out a consultation on possible alternative arrangements for providing better cross-border access to information about companies in the EU;
Amendment 2 #
2010/2055(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Acknowledges that improved access to cross-border, up-to-date, official information about companies can lead to greater transparency for the public and for companies themselves and to greater efficiency and legal certainty in the internal market; considers necessary to adopt a legal requirement for the mandatory participation of all Member States;
Amendment 4 #
2010/2055(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Acknowledges the increasing need for such access and for an improved network linking Member States’ company registers; insists that all the information, regardless of its country of origin, transmitted through the network are updated and reliable; points out that users must be able to access information from this network as easily as possible;
Amendment 6 #
2010/2055(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Takes the view that an integrated European solution to this problem should be devised; insists, however, that any such European solution must be economically efficient and help to reduce red tape; the details of such a solution should be determined in a governance agreement;
Amendment 9 #
2010/2055(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Urges that any integrated European solution must in particular take account of the extent to which national registers or existing European registers covering some sectors of the economy canould be closed down or, adapted or merged in order to prevent duplication of work, in keeping with the objective of reducing red tape, ensuring clarity and simplicity.
Amendment 140 #
2010/0277(NLE)
Article 4 – paragraph 4
4. Member States shall have the macroeconomic and budgetary forecasts for fiscal planning regularly audited, including ex post evaluation. The result of this auditing shall be made public and taken into account appropriately in future macroeconomic and budgetary forecasts.
Amendment 196 #
2010/0207(COD)
Proposal for a directive
Article 7 – paragraph 1 a (new)
Article 7 – paragraph 1 a (new)
1a. If Member States have adopted a longer time limit for payout of 20 working days until 31 December 2016, depositors shall upon request receive a one-time payout of up to EUR 5 000 from the Deposit Guarantee Scheme within five working days on their deposit eligible for reimbursement.
Amendment 286 #
2010/0207(COD)
Proposal for a directive
Article 11 – paragraph 3 a (new)
Article 11 – paragraph 3 a (new)
3a. By derogation from the standardised approach in paragraphs 1 and 2, Deposit Guarantee Schemes may use their own risk-based methods to determine the degree of risk incurred by members and calculate contributions by member bodies to the Deposit Guarantee Scheme. Calculation of the contributions shall be proportional to the commercial risk of the institute in question and take due consideration of the risk profiles of the various business models. The procedures may also calculate the contribution base from the assets side of the balance sheet and consider capital adequacy, the quality of the assets and liquidity at least as risk indicators. The procedures must be approved by the respective national supervisory authorities and by the European Banking Authority and accord with the guidelines developed by the European Banking Authority pursuant to Article 11(5). The European Banking Authority shall conduct a review of compliance with the guidelines whenever the scheme is changed and at periodic intervals of at least every five years.
Amendment 299 #
2010/0207(COD)
Proposal for a directive
Article 12 – paragraph 3
Article 12 – paragraph 3
(3) If a credit institution ceases to be member of a scheme and joins another scheme, the contributions paid during the 6 monthsfinal year preceding the withdrawal of membership shall be reimbursed or transferred to the other scheme, provided that these are not regular contributions under Article 9(1), subparagraph 3, sentence 4 or extraordinary contributions under Article 9(3). This shall not apply if a credit institution has been excluded from a scheme pursuant to Article 3(3).
Amendment 313 #
2010/0207(COD)
Proposal for a directive
Article 19 – paragraph 5
Article 19 – paragraph 5
(5) The Commission, supported by the [European Banking Authority], shall submit to the European Parliament and to the Council by 31 December 2015 a report on the progress towards the implementation of this Directive. This report should cover notably the possibility to dquestion of whethermine the target level on the basis of covered deposits, without diminishing thensures appropriate protection ofor depositors.
Amendment 1 #
2009/2222(INI)
Draft opinion
Paragraph -1 (new)
Paragraph -1 (new)
-1. considering Article 14 of the Treaty on the Functioning of the European Union and Protocol No 26 annexed to the treaties,
Amendment 4 #
2009/2222(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Given that social services of general interest make a major contribution to the achievement of the EU's goals as enshrined in the Treaties, particularly in terms of promoting economic, social and territorial cohesion, calls on the Commission to use the evaluation and revision of the Monti- Kroes package to strengthen legal security in the field of social services of general interest, using a tailored approach which can easily be applied by organising public authorities and takes into account the specific ways in which social services are organised, their legal status and their strongly local nature, as well as the responsibility of the Member States for organising and financing these services;
Amendment 9 #
2009/2222(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Calls on the Commission to adopt a communication establishing a methodology for organising local authorities setting out guidelines for applying European rules, while enabling local authorities to handle European rules flexibly considering their national and local specificities;
Amendment 12 #
2009/2222(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Calls on the Commission to consider the advisability of putting forward a de minimis regulation specific to social services of general interest or to adjust the de minimis threshold for such services, in order to focus EU checks on State aid on social services likely to have a significant impact on cross-border trade within the EU;
Amendment 15 #
2009/2222(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Calls on the Commission to exempt from the notification requirement subsidies granted under the terms of contracts concluded as a result of competitive tendering;tendering, but at the same time to take account of the fact that tried and tested models for the organisation of social services markets exist in the Member States.
Amendment 18 #
2009/2222(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Calls on the Commission to clarify how the concepts of economic and non- economic activityies and effects on trade are to be applied to social services of general interest and the specific arrangements for applying the concept of the ‘'level of compensation needed (...) on the basis of an analysis of the costs which a typical undertaking, well run and adequately provided with means of transport (...) would have incurred’' (CJUE, C-280/00, Altmark);
Amendment 20 #
2009/2222(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Stresses that wthere an official act of entrustment has been transparently drawn up and made public and includes parameters for calculating compensation based on coverage of the actual cost of providing social services of general interest, systematic monitoring of overcompensation should be replaced by intervention only following a substantiated complaint.is a guarantee of transparency which has to be maintained; asks the Commission to consider whether rules set for entrustment and monitoring of overcompensation are appropriate to the characteristics of social services and to take initiatives if they are not deemed appropriate;
Amendment 23 #
2009/2222(INI)
Draft opinion
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Calls on the Commission as recommended in the conclusions of the 3rd Forum on SSGI to set up an inter- institutional and inter-sector High level Task force or a High level Group, on SSGI to create a new dynamic in reaching consensus on the best way forward in overcoming the legal and administrative obstacles to effective delivery and access to universal SSGI;
Amendment 27 #
2009/2222(INI)
Draft opinion
Paragraph 6 f (new)
Paragraph 6 f (new)
6f. Stresses that the calculation of compensation should not be done exclusively on the basis of economic and financial criteria but should also take account of social criteria;
Amendment 65 #
2009/2222(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Determines that the national, regional and local public authorities play a significant role regarding the organisation, financing and arrangement of SSGI within the framework of the social protection systems of the relevant Member States;
Amendment 175 #
2009/2222(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Calls for the 2005 Monti-Kroes response to the Altmark case to be broadened so as to simplify the rules, improve flexibility in their application, and expand the derogations. The de minimis threshold should be raised at least for the SSGI to at least EUR 500 000 over a three- year cycle;
Amendment 1 #
2009/2175(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Points out that although local and regional authorities are amongst Europe’s largest purchasers and therefore play an essential role in implementing public procurement rules, there is a general lack of legal expertise complexity of the rules on competition law and procurement law means that there is often a lack of expertise in the legal framework and its implementation, appropriate training and guidelines on procurement within sub- national authorities;
Amendment 6 #
2009/2175(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Considers that it is not only costs and complexity which can be prohibitive, but also the time needed to complete the public procurement process, not land the threast because theof legal action in the form of lengthy appeal procedures arethat are often obstructed by various actors, and hence welcomes the fact that the recovery plan makes it possible to apply accelerated versions of the procedures outlined in the public procurement directives to major public projects specifically in 2009 and 2010; calls on the Member States to supportmake use of the procedure and assist local authorities in using these new procedures, in each case in compliance with the standard public procurement rules and regulations;
Amendment 10 #
2009/2175(INI)
Draft opinion
Paragraph 3a (new)
Paragraph 3a (new)
3a. Calls on the Commission to examine the possibility of using, even beyond 2010, accelerated versions of procedures in connection with structural funds and an extension of the temporary increase in thresholds, with the specific aim of increasing investment;
Amendment 11 #
2009/2175(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Deplores the fact that in some cases Structural Fund allocations for infrastructure projects undertaken in the context of a Public Private Partnership (PPP) and related contracts with private operators based on public procurement carried out at sub-national level have led to a loss of European Union subsidies previously available to fund infrastructure development; believes that it is vital to remove obstacles to and establish clear rules for PPPs if the European Union wants to have any chance of making the necessary investments in infrastructure and quality services; calls on the Commission to ensure that public procurement and Structural Fund implementation rules set a clearoherent framework for PPPs in order to create legal certainty for all stakeholders and reduce the pressure on public budgets, in the context of the principle of co-financing and in the aftermath of the global economic crisis;
Amendment 13 #
2009/2175(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Deplores the fact that in some cases Structural Fund allocations for infrastructure projects undertaken in the context of a Public Private Partnership (PPP) and related contracts with private operators based on public procurement carried out at sub-national level have led to a loss of European Union subsidies previously available to fund infrastructure development; believes that it is vital to remove obstacles to and establish clear rules for PPPs if the European Union wants to have any chance of making the necessary investments in infrastructure and quality services; calls on the Commission to ensure that public procurement and Structural Fund implementation rules set a clear framework for PPPs in order to create legal certainty for all stakeholders and reduce the pressure on public budgets, in the context of the principle of co-financing and in the aftermath of the global economic crisis;
Amendment 14 #
2009/2175(INI)
Draft opinion
Paragraph 4
Paragraph 4
Amendment 15 #
2009/2175(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Recognises the right of local and regional authorities to decide democratically on the best means of delivering public services, including decisions to use companies they own or control without any private partner being involved; believes that even without compulsory tendering inter-communal or other forms of public-public cooperation for service delivery should be accepted as a legitimate way of delivering in-house services and that sub-national actors should be able to assign tasks relating to public service provision to companies they own or control, provided that those companies do not compete on external markets; proposes that the Commission should assess whether there is any remaining legal uncertainty regarding the concepts of ‘public authority’ and ‘in- house services’ in the light of various judgments1 of the Court of Justice and, if necessary, take steps to clarify them so that the principle of subsidiarity is observed;.
Amendment 18 #
2009/2175(INI)
Draft opinion
Paragraph 5a (new)
Paragraph 5a (new)
5a. Points out that the Commission’s initiatives concerning public procurement need to be better coordinated in order to avoid jeopardising coherence with European directives on public procurement and causing legal problems for operators; calls in this regard for better coordination within the European Commission, including a single website with clear structures to promote legislative transparency in this field;
Amendment 21 #
2009/2175(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Calls on the Commission to clarify the corresponding public procurement rules and revise the legal framework in order not to jeopardise the powers and right of local authorities to decide how they want to develop theirdraw up, in close cooperation with the European Parliament, the Council and regional and local government, the corresponding public procurement rules with sufficient clarity to enable contracting authorities clearly to identify which public works contracts and concessions are subject to award and thus distinguish between these and urban development projects for which therritorye is no obligation to award contracts.
Amendment 22 #
2009/2175(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Emphasises the difficulty in distinguishing public works contracts from public authorities’ town planning activities and endorses the concerns voiced by many local authorities in response to the interpretation of the rulings1 of the Court of Justice in the field of urban development; firmly believes that the operationally and legally strict application of public procurement rules might hinder urban development; calls on the Commission to clarify the corresponding public procurement rules and revise the legal framework in order not toso that land agreements can be facilitated between the public and private sector without the unnecessary requirement of having to award a tender and without jeopardiseing the powers and right of local authorities to decide how they want to develop their territory; awaits with great interest the decision of the Court of Justice in Case C-451/08; endorses the view of the Advocate-General of the Court of Justice delivered on 17 November 2009 in Case C-451/08: 'These broad and ambitious aims must be borne in mind when interpreting the Directive but it should not be assumed that, by appealing to the purpose of the measure, its scope can be extended indefinitely.' (paragraph 35); otherwise there is the risk 'that all town planning activities are subject to the Directive since, by definition, provisions on the possible execution of building works substantially alter the value of the land in question'.
Amendment 53 #
2009/2175(INI)
Motion for a resolution
Paragraph 6 – indent 3
Paragraph 6 – indent 3
Amendment 54 #
2009/2175(INI)
Motion for a resolution
Paragraph 6 – indent 3
Paragraph 6 – indent 3