34 Amendments of Kay SWINBURNE related to 2013/2166(INI)
Amendment 139 #
Motion for a resolution
Annex – paragraph 1 – indent 1
Annex – paragraph 1 – indent 1
– EnhanceClarify the mandate for the all ESAs for binding and non-binding mediation especially with regard to the ECB and delete Recital 32 which is misleading onconsider the application of Recital 32 concerning non-binding mediation which could be a useful tool for sensitive areas of financial legislation where the mandate for non-binding mediation may not be appropriate;
Amendment 143 #
Motion for a resolution
Annex – paragraph 1 – indent 2
Annex – paragraph 1 – indent 2
– Give the ESAs the possibility to trigger binding and non-binding mediation on their own initiative;
Amendment 145 #
Motion for a resolution
Annex – paragraph 1 – indent 3
Annex – paragraph 1 – indent 3
Amendment 148 #
Motion for a resolution
Annex – paragraph 1 – indent 4
Annex – paragraph 1 – indent 4
– Ensure that the ESAs, where appropriate; national supervisory authorities; and the ECB, in the case of those Member States within the SSM, have access to the same supervisory information which has to be provided where possible in a common format which has to be determined by the ESAs in accordance with international standards;
Amendment 158 #
Motion for a resolution
Annex – paragraph 1 – indent 5
Annex – paragraph 1 – indent 5
– Establish the ESRB outside the ECB to avoid the arising conflicts of interest between micro-prudential supervision and macro-economic oversight. and allow the Chairperson of the ESRB to be elected from among its members;
Amendment 171 #
Motion for a resolution
Annex – paragraph 2 – indent 1
Annex – paragraph 2 – indent 1
– improposving a single seat for allcoordination between the three ESAs;
Amendment 178 #
Motion for a resolution
Annex – paragraph 2 – indent 2
Annex – paragraph 2 – indent 2
– enhancing the organisational powers of the chairpersons of all three ESAs to establish more streamlined decision making processes within the respective Boards of Supervisors; so as to improve their ability to take technical and operational decisions orand to request information from other supervisory authorities without requiring consent by the respective Boards of Supervisors;
Amendment 183 #
Motion for a resolution
Annex – paragraph 2 – indent 2 a (new)
Annex – paragraph 2 – indent 2 a (new)
– ensuring true independence of the ESAs from the European Commission by establishing written procedures to follow any informal oral advice given by them, with fully supported legal opinions, all of which should be communicated to the co- legislators who gave the ESAs the mandate to draft regulatory technical standards in level 1 text;
Amendment 184 #
Motion for a resolution
Annex – paragraph 2 – indent 2 b (new)
Annex – paragraph 2 – indent 2 b (new)
– requiring that where the Commission doesn't follow the draft Regulatory Technical Standards or Implementing Technical Standards proposed by the ESAs that they should publish reasons and fully evidenced cost-benefit analysis to justify such a decision;
Amendment 185 #
– establish an Economic Analysis Unit to provide fully evidenced cost benefit analysis of ITS, RTS and guidelines proposed, as well as to provide input to the opinions given to the Commission, the European Parliament and the Council in preparing new legislation as well as in reviews of existing legislation;
Amendment 186 #
Motion for a resolution
Annex – paragraph 2 – indent 2 d (new)
Annex – paragraph 2 – indent 2 d (new)
– establish a formal method of communication with DG Comp to ensure that financial services legislation supports a competitive single market and avoids anticompetitive imbalances occurring as a result of legislation, both at the level of consumers access to retail services and how they differ across the EU as well as at the level of professional counterparties and the wholesale markets;
Amendment 191 #
Motion for a resolution
Annex – paragraph 2 – indent 3
Annex – paragraph 2 – indent 3
Amendment 199 #
Motion for a resolution
Annex – paragraph 2 – indent 4
Annex – paragraph 2 – indent 4
Amendment 208 #
Motion for a resolution
Annex – paragraph 2 – indent 5
Annex – paragraph 2 – indent 5
– taking account of the size of the financial sector of Member States when reviewing the voting rights on the boards of supervisors and introducing simple majority voting for all decisions within the ESAensuring that those Member States outside of the SSM are properly accommodated in decision making processes;
Amendment 222 #
Motion for a resolution
Annex – paragraph 2 – indent 7
Annex – paragraph 2 – indent 7
– enhancing the investigatory powers of the ESAs in the case of breaches of EU law and increasing their resources in order to control the appropriatinvestigate whether the implementation of legal acts for example byhas been appropriate, for example by writing guidelines for Member States concerning ‘mystery shopping’;
Amendment 231 #
Motion for a resolution
Annex – paragraph 1 – indent 8
Annex – paragraph 1 – indent 8
– withdrawing the right toensuring a transparent process by which the consumer protection body in each Member State is properly consulted regarding votes on questions concerning consumer protection for members of the Board of Supervisors which do not have a mandate for consumer protection in their Member State;
Amendment 248 #
Motion for a resolution
Annex – paragraph 2 – indent 10
Annex – paragraph 2 – indent 10
– requiring the ESAs to respect the principal of proportionality especially with regard to small and medium-sized market participants when provided for in level 1 provisions, in particular when carrying out their tasks and developing their supervisory methods, practices and handbooks, while ensuring a level playing field between all financial institutions within the EU;
Amendment 253 #
Motion for a resolution
Annex – paragraph 2 – indent 11
Annex – paragraph 2 – indent 11
– revising the structure of the ESRB to allow swiftermore independent decision-making and stronger accountability by establishing a systemic stability council with a limited number of membersclearly separating it from within the ECB;
Amendment 263 #
Motion for a resolution
Annex – paragraph 2 – indent 12
Annex – paragraph 2 – indent 12
– enhancing the ESAs' investigatory powers with regard to possible breaches of Union law concerning the regulatory technical standards they have drafted;
Amendment 278 #
Motion for a resolution
Annex – paragraph 2 – indent 16
Annex – paragraph 2 – indent 16
– enhancing the flexibility of the ESAs to employ specialised staff, including more national experts for specific tasks, also for limited periods and to adapt remuneration;
Amendment 282 #
Motion for a resolution
Annex – paragraph 2 – indent 17
Annex – paragraph 2 – indent 17
– providing for the mandatory involvement of the ESAs and of the ESRB in legislative processes by providing technical advice and research concerning their fields of expertise;
Amendment 307 #
Motion for a resolution
Annex – paragraph 3 – indent 1 a (new)
Annex – paragraph 3 – indent 1 a (new)
– whether the European Commission has stepped beyond its role as observer on the ESAs Board of Supervisors;
Amendment 311 #
Motion for a resolution
Annex – paragraph 3 – indent 2
Annex – paragraph 3 – indent 2
Amendment 314 #
Motion for a resolution
Annex – paragraph 3 – indent 4
Annex – paragraph 3 – indent 4
– how reporting to the ESAs and national supervisors could be standardised, optimised and, simplified and based upon international standards, for market participants;
Amendment 316 #
Motion for a resolution
Annex – paragraph 3 – indent 5
Annex – paragraph 3 – indent 5
– whetherhow the emergency powers of the ESAs should be maintained.
Amendment 326 #
Motion for a resolution
Recital I a (new)
Recital I a (new)
I a. whereas the ESA's impact assessments have lacked detail and economic analysis, focussing mainly on the regulatory impact of proposals instead of true cost-benefit analysis;
Amendment 327 #
Motion for a resolution
Recital J
Recital J
J. whereas the three different locations of the seats of the ESAs have proven to be an obstacle to their cooperation and to coherentallowed them to interact with the three largest financial centres in the EU, benefiting from access to information from the market and the largest national financial supervisionors in the EUnion;
Amendment 328 #
Motion for a resolution
Recital K
Recital K
K. whereas in Case C-270/12, the Advocate General opined that the limitations of the judgment in Case C-9/56 Meroni are less restrictive in some areas than what was considered to be the right interpretation of that judgment at the time when the ESFS was created; although more restrictive in other areas;
Amendment 329 #
Motion for a resolution
Recital S
Recital S
S. whereas the voting rights in the Boards of Supervisors of the ESAs are not proportionate to the size of the relevant Member Statesfinancial services sectors in Member States, but that balance must be maintained between small and large member states to ensure equanimity of approach;
Amendment 330 #
Motion for a resolution
Recital V
Recital V
V. whereas some requirements that the ESAs imposed on all market participants were considered to be onerous, inappropriate and not proportional to the size and business model of the addressees as level 1 text did not provide for flexibility in the application of EU law;
Amendment 331 #
Motion for a resolution
Recital X
Recital X
X. whereas the ESAs have only very limited possibilities to initiate investigations within theof breaches of EU law by Member States;
Amendment 332 #
Motion for a resolution
Recital AA
Recital AA
AA. whereas some members of the ESAs in the Boards of Supervisors took decisions on consumer protection issues without having a mandate for it in their home Member State, and without transparent consultation with the national body responsible;
Amendment 333 #
Motion for a resolution
Recital AB
Recital AB
AB. whereas the current safeguard clauses in Article 38(1) of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010, and of Regulation (EU) No 1095/2010, limit the possibilities for mediation pursuant to Articles 18 and 19 thereofore, in particular in cases of cross- border group resolution under [the bank recovery and resolution directive] final decision making powers are left with the Member State which has fiscal responsibility for the instiutions in question;
Amendment 334 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Requests the Commission to submit to Parliament, by 1 July 2014, legislative proposals for the revision and, where appropriate, the merger, of Regulations (EU) No 1092/2010, (EU) No 1093/2010, (EU) No 1094/2010, (EU) No 1095/2010 and (EU) No 1096/2010, following the detailed recommendations made in the Annex hereto, based on the experience gained since the ESAs were established and on an indepth analysis of the legal basis and alternatives available to Article 114 TFEU, including recent case-law;