Activities of Alexandra THEIN related to 2011/0307(COD)
Shadow reports (1)
REPORT on the proposal for a directive of the European Parliament and of the Council amending Directive 2004/109/EC on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and Commission Directive 2007/14/EC PDF (437 KB) DOC (599 KB)
Amendments (4)
Amendment 26 #
Proposal for a directive
Recital 7
Recital 7
(7) In order to provide for enhanced transparency of payments made to governments, issuers whose securities are admitted to trading on a regulated market and which have activities in the extractive or logging of primary forest industries should disclose in a separate report on an annual basis payments made to governments in the countries in which they operate. The report should include types of payments comparable to those disclosed under the Extractive Industries Transparency Initiative (EITI) and provide civil society with information to hold governments of resource-rich countries to account for their receipts from the exploitation of natural resources. The initiative is also complementary to the EU FLEGT Action Plan (Forest Law Enforcement, Governance and Trade) and the Timber Regulation which require traders of timber products to exercise due diligence in order to prevent illegal wood from entering into the EU market. The detailed requirements are defined in Chapter 9 of Directive 2011/../EU of the European Parliament and of the Council.
Amendment 32 #
Proposal for a directive
Recital 21 a (new)
Recital 21 a (new)
(21a) A harmonised electronic format for reporting would be very beneficial for issuers established in the Union, since it would facilitate the creation of a one-stop- shop reporting system which could also be used in other fields. Therefore, preparation of financial statements in eXtensible Business Reporting Language (XBRL) should be mandatory with effect from 1 January 2018, after an appropriate period has elapsed for preparation and testing. The experiences of the IASB should be used for assessment of possible XBRL format.
Amendment 42 #
Proposal for a directive
Article 1 – point 3 a (new)
Article 1 – point 3 a (new)
Directive 2004/109/EC
Article 4 – paragraph 7 a (new)
Article 4 – paragraph 7 a (new)
(3a) In Article 4, the following paragraph is added: '7a. With effect from 1 January 2018 all financial annual reports shall be prepared in eXtensible Business Reporting Language (XBRL). ESMA shall develop draft regulatory technical standards to specify the XBRL format and the manner in which this provision is to be implemented in the Member States. ESMA shall submit those draft regulatory technical standards to the Commission by 31 December 2013. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the second subparagraph of this paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010. Before the adoption of the regulatory technical standards the Commission, together with ESMA, shall carry out an adequate assessment of possible XBRL formats and conduct appropriate tests in all Member States.'
Amendment 46 #
Proposal for a directive
Article 1 – point 5
Article 1 – point 5
Directive 2004/109/EC
Article 6
Article 6
Member States shall require issuers active in the extractive or logging of primary forest industries, as defined in […] to prepare, in accordance with Chapter 9 of Directive 2011/../EU of the European Parliament and of the Council (*), a report on payments made to governments on an annual basis. The report shall be made public at the latest six months after the end of each financial year and shall remain publicly available for at least five years. Payments to governments shall be reported at consolidated level.