18 Amendments of Kay SWINBURNE related to 2016/0182(COD)
Amendment 12 #
Proposal for a regulation
Recital 1
Recital 1
(1) The Union contributes to ensuring a high level of consumer protection and to placing consumers at the heart of the single market by supporting and complementing Member States' policies in seeking to ensure that citizens can fully reap the benefits of the internal market and that, in so doing, their legal and economic interests are properly addressed and defended. A well-functioning and trustworthy financial services sector is a key component of the single market and its cross-border capability. It requires a solid framework for regulation and supervision, which simultaneously ensures financial stability and focuses on supporting a sustainable economy. At the same time, it should provide a high level of protection to consumers and other financial services end-users, including retail investors, savers, insurance holders, pension fund participants, individual shareholders, borrowers or SMEs.
Amendment 21 #
Proposal for a regulation
Recital 7
Recital 7
(7) The evaluation by the Commission of the pilot project and the subsequent preparatory action carried out in 2015 concluded that the policy objectives have been generally achieved. Finance Watch and Better Finance have been working on complementary policy areas and targeted different audiences. Together they have covered, through their activities, most of the Union financial political agenda since 2012.
Amendment 22 #
Proposal for a regulation
Recital 8
Recital 8
(8) BThe evaluation carried out by the Commission concluded that both organisations provided added value both to the sum of activities of their national members and to Union consumers in a way that national consumer advocacy groups were unable to deliver. NThe Commission evaluated national organisations dealing with all kinds of consumers' issues to be lacking technical expertise in policy areas related to financial services. In addition, no other similar organisations have been identified at Union level so far. TAlthough the evaluation also showed that no other applicant responded to the successive yearly calls for proposal since 2012, which tends to show that no other organisation is currently able to carry out similar Union- wide activitiesthe programme should be open to other potential beneficiaries if they meet the requirements of the programme.
Amendment 24 #
Proposal for a regulation
Recital 9
Recital 9
(9) However, despite regular efforts, bBoth organisations did not manage to attract stable and significant funding from other donors, independent from the financial industry, and, therefore, remain heavily dependent on Union funding. Co- funding from the Union is therefore necessary to ensure the resources needed to achieve the desired policy objectives in the coming years, providing financial stability to those organisations who have so far managed to start-up their relevant activities in a short period of time. It is therefore necessary to establish a Union programme for the period 2017-2020 to support the activities of Finance Watch and Better Finance ('Programme').
Amendment 26 #
Proposal for a regulation
Recital 10
Recital 10
(10) Continuing funding of Finance Watch and Better Finance for the period 2017-2020 along the same lines as for the preparatory action wcould ensure that the positive impacts of the activities of those organisations assessed favourably by the Commission so far are maintained. The financial envelope for the implementation of the Programme should be based on the average actual costs incurred by each beneficiary between 2012 and 2015. The co-funding a detailed projected budget with actual cost justifications and cannot be based on an arbitrary averatge should remain unchangedof previous spending.
Amendment 29 #
Proposal for a regulation
Recital 14
Recital 14
(14) Every year before 31 Dec0 November, eachall beneficiaryies should submit a description of activities planned for the following year to achieve the policy objectives of the Programme. Those activities should be described in detail, including their objectives, expected results and impact, estimated costs and timeframe as well as relevant indicators to assess them.
Amendment 31 #
Proposal for a regulation
Recital 16
Recital 16
(16) The financial interests of the Union shouldmust be protected through proportionate measures throughout the expenditure cycle, including the prevention, detection and investigation of irregularities, the recovery of funds lost, wrongly paid or incorrectly used and, where appropriate, administrative and financial penalties.
Amendment 32 #
Proposal for a regulation
Recital 17
Recital 17
Amendment 33 #
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
1. A Union programme (the ‘Programme’) is hereby established for the period from 1 January 2017 to 31 December 2020 to support the activities of the organisations referred to in Article 3, who contribute to the achievement of the policy objectives of the Union in relation to enhancing the involvement of consumers and other financial services end-users, as well as stakeholders representing their interests in Union policy making in the field of financial services.
Amendment 39 #
Proposal for a regulation
Article 1 – paragraph 2 – point b
Article 1 – paragraph 2 – point b
(b) awareness and dissemination activities, including to a wide audience of non-experts in each Member State;
Amendment 44 #
Proposal for a regulation
Article 2 – paragraph 1 – point a
Article 2 – paragraph 1 – point a
(a) to further enhance the participation of consumers and other financial services end-users of each Member State, as well as stakeholders representing their interests, in Union policy-making in the area of financial services;
Amendment 47 #
Proposal for a regulation
Article 2 – paragraph 2
Article 2 – paragraph 2
2. The objectives set out in paragraph 1 shall be closely monitored in particular through a yearly description of the actions performed by the beneficiaries of the Programme and an independently produced annual activity report, which shall include quantitative and qualitative indicators for each activity planned and conducted by the beneficiaries.
Amendment 48 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
Amendment 50 #
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
2. In order to benefit from the Programme, these beneficiaries shall remain non-governmental, non-profit- making legal entities, independent of industry, commerce or business. They shall have no other conflicting interests and represent through their members the interests of Union consumers and other end-users in the field of financial services. The Commission shall ensure continued compliance with these criteria for the duration of the Programme by including them in the annual work programmes referred to in Article 7 and by assessing annually whether the beneficiaries meet these criteria before awarding the action grants referred to in Article 4.
Amendment 54 #
Proposal for a regulation
Article 3 – paragraph 3
Article 3 – paragraph 3
Amendment 55 #
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
1. The financial envelope for the implementation of the Programme for the period from 1 January 2017 to 31 December 2020 shall be maximuma limited figure justified by detailed financial analysis and shall not exceed EUR 6 000 000 in current prices.
Amendment 57 #
Proposal for a regulation
Article 7 – paragraph 2
Article 7 – paragraph 2
2. In order to benefit from the Programme, the beneficiaries shall submit every year before 31 Dec0 November to the Commission a proposal describing the activities referred to in Article 1 planned for the following year.
Amendment 60 #
Proposal for a regulation
Article 8 – paragraph 3
Article 8 – paragraph 3
3. The European Anti-fraud Office (OLAF) mayshall carry out on-the-spot checks and inspections on economic operators concerned directly or indirectly by such funding in accordance with the procedures laid down in Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council6 and in Council Regulation (Euratom, EC) No 2185/967 with a view to establishing whether there has been fraud, corruption or any other illegal activity affecting the financial interests of the Union in connection with a grant agreement or grant decision or a contract funded, directly or indirectly, under this Programme. _________________ 6 Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council of 11 September 2013 concerning investigations conducted by the European Anti-Fraud Office (OLAF) and repealing Regulation (EC) No 1073/1999 of the European Parliament and of the Council and Council Regulation (Euratom) No 1074/1999 (OJ L 248, 18.9.2013, p. 1). 7 Council Regulation (Euratom, EC) No 2185/96 of 11 November 1996 concerning on-the-spot checks and inspections carried out by the Commission in order to protect the European Communities’ financial interests against fraud and other irregularities (OJ L 292, 15.11.1996, p. 2).