7 Amendments of Diogo FEIO related to 2009/0144(COD)
Amendment 155 #
Proposal for a regulation
Recital 21
Recital 21
(21) Serious threats to the orderly functioning and integrity of financial markets or the stability of the financial system in the CommunityEuropean Union require a swift and concerted response at CommunityEuropean Union level. The Authority should therefore be able to require national supervisory authorities to take specific actions to remedy an emergency situation. As the determination of an emergency situation involves a significant degree of discretionBearing mind the sensitivity of the issue, thise power should be conferred on the Commission. To ensure an effective response to the emergency situation, in the event of inaction by the competent national supervisory authorities, the Authority should be empowered to adopt, as a last resort, decisions directly addressed to financial market participants in areas of Community law directly applicable to them aimed at mitigating the effects of the crisis and restoring confidence in the marketto determine the existence of an emergency situation should be conferred on the Council, following appropriate consultation with the Commission, the ESRB and, where appropriate, the European Supervisory Authorities.
Amendment 333 #
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. In the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the Community, the Commission, upon its own initiative or following a request by the Authority, the Council, or the ESRBEuropean Union, the Council, following appropriate consultations with the Commission, the ESRB, and where appropriate, the European Supervisory Authorities, may adopt a decision addressed to the Authority, determining the existence of an emergency situation for the purposes of this regulation.
Amendment 341 #
Proposal for a regulation
Article 10 – paragraph 1 a (new)
Article 10 – paragraph 1 a (new)
1a. As soon as it issues a warning the Council shall notify it simultaneously to the European Parliament, the ESRB, the Commission and the European Supervisory Authority.
Amendment 345 #
Proposal for a regulation
Article 10 – paragraph 2
Article 10 – paragraph 2
2. Where the Commission has adopted a decisionexistence of an emergency situation is declared pursuant to paragraph 1, the Authority may adopt individual decisions requiring competent authoritiesdecisions addressed to the competent authorities of Member States requiring them to take the necessary action in accordance with the legislation referred to in Article 1(2) to address any risks that may jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system by ensuring that financial market participants and competent authorities satisfy the requirements laid down in that legislation.
Amendment 348 #
Proposal for a regulation
Article 10 – paragraph 2 a (new)
Article 10 – paragraph 2 a (new)
2a. In the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the European Union, the Authority shall actively facilitate and, where deemed necessary, coordinate any actions undertaken by the relevant national competent supervisory authorities.
Amendment 351 #
Proposal for a regulation
Article 10 – paragraph 2 b (new)
Article 10 – paragraph 2 b (new)
2b. The Council shall review the decision pursuant to paragraph 1 at appropriate intervals and at least once a month and declare the discontinuation of the emergency situation, as soon as appropriate
Amendment 538 #
Proposal for a regulation
Article 29 – paragraph 1 – subparagraph 1
Article 29 – paragraph 1 – subparagraph 1
1. The Board of Supervisors shall act on the basis of qualified majority of its members, as defined in Article 20516 of the Treaty on European Union, for acts specified in Articles 7, 8 and all measures and decisions adopted under Chapter VI. For all other decisions, the Board of Supervisors shall decide by simple majority and each member shall have one vote.