9 Amendments of Kay SWINBURNE related to 2010/0232(COD)
Amendment 84 #
Proposal for a directive
Recital 4
Recital 4
(4) The comprehensive and adequate monitoring of group risks in large, complex, internationally operating conglomerates, as well as the supervision of the group-wide capital policies of these groups, is only possible when competent authorities gather supervisory information and plan supervisory measures beyond the national scope of their mandate. It is therefore necessary that competent authorities coordinate supplementary supervision on international conglomerates among the competent authorities which are regarded as most relevant for the supplementary supervision of a conglomerate in cooperation with the Joint Committee. The college of a financial conglomerate's relevant competent authorities should reflect the supplementary nature of this Directive, and as such it should add value to existing colleges for the banking subgroup and the insurance subgroup in the conglomerate, without replicating, duplicating or replacing them.
Amendment 102 #
Proposal for a directive – amending act
Article 2 – point 2 – point b
Article 2 – point 2 – point b
Directive 2002/87/EC
Article 3 – paragraph 3 – subparagraph 3
Article 3 – paragraph 3 – subparagraph 3
Decisions taken in accordance with this paragraph shall be notified to the other competent authorities concernedand made public by the competent authorities as appropriate.
Amendment 105 #
Proposal for a directive – amending act
Article 2 – point 2 – point c
Article 2 – point 2 – point c
Directive 2002/87/EC
Article 3 – paragraph 3a – subparagraph 2
Article 3 – paragraph 3a – subparagraph 2
Decisions taken in accordance with this paragraph shall be notified to the other competent authorities concernedand made public by the competent authorities as appropriate.
Amendment 108 #
Proposal for a directive – amending act
Article 2 – point 2 – point f
Article 2 – point 2 – point f
Directive 2002/87/EC
Article 3 – paragraph 8
Article 3 – paragraph 8
8. The European Supervisory Authority (European Banking Authority) and the European Supervisory Authority (European Insurance and Occupational Pensions Authority), coordinated by the Joint Committee, shall issue common guidelines aimed at the convergence of supervisory practices with regard to the application of paragraphs 2, 3, 3a, 4 and 5 of this Article.
Amendment 115 #
Proposal for a directive – amending act
Article 2 – point 4
Article 2 – point 4
Directive 2002/87/EC
Article 7 – paragraph 5
Article 7 – paragraph 5
5. The European Supervisory Authority (European Banking Authority) and the European Supervisory Authority (European Insurance and Occupational Pensions Authority), coordinated by the Joint Committee, shall issue common guidelines aimed at the convergence of supervisory practices with regard to the application of supplementary supervision of risk concentration as provided for in paragraphs 1 to 4. They shall issue specific common guidelines on the application of paragraphs 1 to 4 to participations of the financial conglomerate in cases where national company law provisions obstruct the application of Article 14(2).
Amendment 117 #
Proposal for a directive – amending act
Article 2 – point 5
Article 2 – point 5
Directive 2002/87/EC
Article 8 – paragraph 5
Article 8 – paragraph 5
5. The European Supervisory Authority (European Banking Authority) and the European Supervisory Authority (European Insurance and Occupational Pensions Authority), coordinated by the Joint Committee, shall issue common guidelines aimed at the convergence of supervisory practices with regard to the application of supplementary supervision of intra-group transactions as provided for in paragraphs 1 to 4.. They shall issue specific common guidelines on the application of paragraphs 1 to 4 to participations of the financial conglomerate in cases where national company law provisions obstruct the application of Article 14(2).
Amendment 118 #
Proposal for a directive – amending act
Article 2 – point 6
Article 2 – point 6
Directive 2002/87/EC
Article 9 – paragraph 6
Article 9 – paragraph 6
6. Competent authorities shall align the application of the supplementary supervision of internal control mechanisms and risk management processes as provided for in this Article with the supervisory review processes as provided for by Article 124 of Directive 2006/48/EC and Article 36 of Directive 2009/138/EC. To this end, the European Supervisory Authority (European Banking Authority) and the European Supervisory Authority (European Insurance and Occupational Pensions Authority), coordinated by the Joint Committee, shall issue common guidelines aimed at the convergence of supervisory practices with regard to the application of supplementary supervision of internal control mechanisms and risk management processes as provided for in this Article, as well as on the consistency with the supervisory review processes as provided for by Article 124 of Directive 2006/48/EC and Article 36 of Directive 2009/138/EC. They shall issue specific common guidelines for the application of this Article to participations of the financial conglomerate, in cases where national company law provisions obstruct the application of Article 14(2).
Amendment 123 #
Proposal for a directive – amending act
Article 2 – point 7
Article 2 – point 7
Directive 2002/87/EC
Article 11 – paragraph 5
Article 11 – paragraph 5
5. The European Supervisory Authority (European Banking Authority) and the European Supervisory Authority (European Insurance and Occupational Pensions Authority) coordinated by the Joint Committee shall issue common guidelines aimed at the consistency of supervisory coordination arrangements according to Article 131a of Directive 2006/48/EC and Article 248(4) of Directive 2009/138/EC.
Amendment 129 #
Proposal for a directive – amending act
Article 2 – point 10
Article 2 – point 10
Directive 2002/87/EC
Article 21 b
Article 21 b
The European Supervisory Authority (European Banking Authority) and the European Supervisory Authority (European Insurance and Occupational Pensions Authority), coordinated by the Joint Committee, shall issue the common guidelines referred to in Article 3(3), Article 7(5), Article 8(5), Article 9(6) and Article 11(5) in accordance with the procedure laid down in Article 42 of the Regulation (EU) No ../.. establishing the European Banking Authority, and in Article 42 of the Regulation (EU) No ../.. establishing the European Insurance and Occupational Pensions Authority, following cooperation within the Joint Committee of the European Supervisory Authorities.