17 Amendments of Thomas HÄNDEL related to 2009/0143(COD)
Amendment 184 #
Proposal for a regulation
Recital 31
Recital 31
(31) Close cooperation between the Authority and the European Systemic Risk Board is essential to give full effectiveness to the functioning of the European Systemic Risk Board and the follow-up to its warnings and recommendations. The Authority and the European Systemic Risk Board should share any relevant information with the European Systemic Risk Board. Data related to individual undertakings should be provided only upon reasoned request. Upon receipt of warnings or recommendations addressed by the European Systemic Risk Board to the Authority or a national supervisory authority, the Authority should ensure follow-up.
Amendment 188 #
Proposal for a regulation
Recital 32
Recital 32
(32) Where appropriate, tThe Authority should consultallow interested parties on technical standards, guidelines and recommendationsto be consulted on all work undertaken by the Authority and provide them with a reasonable opportunity to comment on proposed measures. For reasons of efficiency, an Insurance, Reinsurance and Occupational Pension Funds Stakeholder Group should be established for that purpose, representing in balanced proportions CommunityUnion insurance and reinsurance firms as well as occupational pension funds (including as appropriate institutional investors and other financial institutions which themselves use financial services), their employees and consumers and other retail users of the insurance, reinsurance and occupational pension services, including SMEs. The Insurance, Reinsurance and Occupational Pension Funds Stakeholder Group should actively work as an interface with other user groups in the financial services area established by the Commission or CommunityUnion legislation.
Amendment 202 #
Proposal for a regulation
Article 1 – paragraph 4
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting policyholders and other beneficiariedepositors and investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination, (vi) preventing regulatory arbitrage. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the CommunityUnion law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
Amendment 203 #
Proposal for a regulation
Article 1 – paragraph 4
Article 1 – paragraph 4
4. The objective of the Authority shall be to contribute to: (i) improving the functioning of the internal market, including in particular a high, effective and consistent level of regulation and supervision, (ii) protecting policyholders and other beneficiariedepositors and investors, (iii) ensuring the integrity, efficiency and orderly functioning of financial markets, (iv) safeguarding the stability of the financial system, and (v) strengthening international supervisory coordination, (vi) developing common methodologies for assessing the effect of product characteristics and distribution processes on the financial position of institutions and on customer protection, with the aim to contributing to a level playing field. For this purpose, the Authority shall contribute to ensuring the consistent, efficient and effective application of the CommunityUnion law referred to in Article 1(2) above, fostering supervisory convergence and providing opinions to the European Parliament, the Council, and the Commission.
Amendment 373 #
Proposal for a regulation
Article 14 – paragraph 1 – point b a (new)
Article 14 – paragraph 1 – point b a (new)
(ba) encourage the emergence of best practices, including an effective and constructive dialogue between national authorities and relevant stakeholders including consumers and unions representing employees in the sector as constituents of a common supervisory culture;
Amendment 374 #
Proposal for a regulation
Article 14 – paragraph 1 – point b b (new)
Article 14 – paragraph 1 – point b b (new)
(bb) ensure that authorities take account of information from employees on companies’ business practices as regards remuneration structures, incentives, skills and working conditions;
Amendment 375 #
Proposal for a regulation
Article 14 – paragraph 1 – point c
Article 14 – paragraph 1 – point c
(c) contribute to developing high quality and uniform supervisory standards, including reporting and accounting standards;
Amendment 389 #
Proposal for a regulation
Article 17 – paragraph 1 – subparagraph 2
Article 17 – paragraph 1 – subparagraph 2
In particular, the Authority shall, in cooperation with the ESRB, initiate and coordinate Community-wide assessments of the resilience of financial institutions to adverse market developments, and of threats arising from financial products’ characteristics and distribution processes. To that end, it shall develop the following, for application by the national supervisorycompetent authoritiesy:
Amendment 390 #
Proposal for a regulation
Article 17 – paragraph 1 – subparagraph 2 – point a a (new)
Article 17 – paragraph 1 – subparagraph 2 – point a a (new)
(aa) common methodologies for assessing the effect of product characteristics and distribution processes on an institution’s financial position and on customer protection;
Amendment 419 #
Proposal for a regulation
Article 22 – paragraph 2 – subparagraph 1
Article 22 – paragraph 2 – subparagraph 1
2. The Insurance, Reinsurance and Occupational Pension Funds Stakeholder Group shall be composed of 30 members, representing in balanced proportions CommunityEU insurance and reinsurance firms as well as occupational pension funds, their employeerade unions and social organisations as well as consumers and users of the insurance, reinsurance and occupational pension service services. No stakeholders in the group shall have a stronger position than others. At least five of the members shall be independent scientists.
Amendment 420 #
Proposal for a regulation
Article 22 – paragraph 2 – subparagraph 2
Article 22 – paragraph 2 – subparagraph 2
The Insurance, Reinsurance and Occupational Pension Funds Stakeholder Group shall meet at least twicefour times a year.
Amendment 432 #
Proposal for a regulation
Article 22 – paragraph 3 – subparagraph 3 a (new)
Article 22 – paragraph 3 – subparagraph 3 a (new)
3a. Adequate financial compensation shall be established for members of the stakeholder group, which represent non- profit organisations.
Amendment 444 #
Proposal for a regulation
Article 22 – paragraph 5
Article 22 – paragraph 5
5. The Insurance, Reinsurance and Occupational Pension FundsBanking Stakeholder Group may submit opinions and advice to the Authority on any issue related to all the tasks of the Authority specified infrom Articles 7 and 8to 19.
Amendment 446 #
Proposal for a regulation
Article 22 – paragraph 5 a (new)
Article 22 – paragraph 5 a (new)
5a. The stakeholder group shall decide on the issues relevant for consultation as well as on the agenda for the meetings.
Amendment 456 #
Proposal for a regulation
Article 23 – paragraph 1
Article 23 – paragraph 1
1. The Authority shall ensure that no decision adopted under Articles 10 or 11 impinges in any wadirectly on the fiscal responsibilities of Member States.
Amendment 461 #
Proposal for a regulation
Article 23 – paragraph 2 – subparagraph 2
Article 23 – paragraph 2 – subparagraph 2
In its notification, the Member State shall justify why and clearly demonstrate howprovide an impact assessment on how much the decision impinges on its fiscal responsibilities.
Amendment 517 #
Proposal for a regulation
Article 35 – paragraph 2
Article 35 – paragraph 2
2. TAn annual report on the Authority's activities shall be submitted to the European Parliament may also, which may call upon the Chairperson at any time to submit a report on the performance of his duties.