8 Amendments of Diogo FEIO related to 2011/0298(COD)
Amendment 646 #
Proposal for a directive
Article 20 – paragraph 1
Article 20 – paragraph 1
1. Member States shall require that investment firms and market operators operating an OTFs establish arrangements preventing the execution of client orders in an OTF against the proprietary capital of the investment firm or market operator operating the OTF. The investment firm shall not act as a systematic internalis, except where the relevant client has elected in writing to opt-in to arrangements permitting the execution of the client's orders in anthat OTF operated by itself. An OTF shall not connect with another OTF in a way which enables orders in different OTFs to interactagainst proprietary capital of the investment firm or market operator operating that OTF for client facilitation purposes.
Amendment 663 #
Proposal for a directive
Article 20 – paragraph 4 a (new)
Article 20 – paragraph 4 a (new)
4 a. Member States shall require that investment firms or market operators operating an OTF take appropriate steps to identify and manage any conflicts of interest arising in connection with the oversight and operation of their OTF.
Amendment 698 #
Proposal for a directive
Article 24 – paragraph 3 – subparagraph 1 – indent 1
Article 24 – paragraph 3 – subparagraph 1 – indent 1
– the investment firm and its services; when investment advice is provided, information shall specify whetherthat the advice is provided on an independent basis and whether it is based on a broad or on a more restricted analysis of the market and shall indicate whetheron a reasonable analysis of the market that suits the client's best interests and shall indicate periodicity with which the investment firm will provide the client with the on-going assessment of the suitability of the financial instruments recommended to clients,
Amendment 729 #
Proposal for a directive
Article 24 – paragraph 5 – introductory part
Article 24 – paragraph 5 – introductory part
5. When the investment firm informs the client that investment advice is provided on an independent basisprovides investment advice, the firm:
Amendment 824 #
Proposal for a directive
Article 25 – paragraph 3 – subparagraph 1 – point a – point iv
Article 25 – paragraph 3 – subparagraph 1 – point a – point iv
(iv) shares or units in UCITS excluding structured UCITS as referred to in Article 36 paragraph 1 subparagraph 2 of Commission Regulation 583/2010 and other UCITS based on complex portfolio management techniques;
Amendment 839 #
Proposal for a directive
Article 25 – paragraph 7
Article 25 – paragraph 7
7. ESMA shall develop by [] at the latest, and update periodically, guidelines for the assessment of financial instruments incorporating a structure which makes it difficult for the client to understand the risk involved in accordance with paragraph 3 (a) and of UCITS based on complex portfolio management techniques.
Amendment 1219 #
Proposal for a directive
Article 71 – paragraph 2 – point d
Article 71 – paragraph 2 – point d
(d) require existing telephone and existing data traffic records held by investment firms where a reasonable suspicion exists that such records related to the subject- matter of the inspection may be relevant to prove a breach by the investment firm of its obligations under this Directive; these records shall however not concern the content of the communication to which they relate;
Amendment 1287 #
Proposal for a directive
Article 96 – paragraph 1 – point f a (new)
Article 96 – paragraph 1 – point f a (new)
(fa) the compliance by investment firms with the best execution obligations provided in [Article 27] and the level of pre-trade transparency in the EU market, notably on the quality and accessibility of pre-trade information by investors, taking into account inter alia the level of market fragmentation. The Commission shall submit its report accompanied, if appropriate, by a legislative proposal for the establishment of a consolidated tape for pre-trade information.