Activities of Brian HAYES related to 2015/2106(INI)
Plenary speeches (1)
Stocktaking and challenges of the EU Financial Services Regulation (A8-0360/2015 - Burkhard Balz)
Amendments (16)
Amendment 43 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the Commission’s Investment Package, including the Capital Markets Union (CMU); stresses that an efficient and effective financial services framework ensuring financial stability is a prerequisite in order to increase (long-term) investment and to foster growth in a competitive European economy; underlines the linkage between economic and financial stability; and the correlation between capital market size and economic development; acknowledges the important role that capital markets can play in addressing the financing needs of Member State economies;
Amendment 74 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that a sound and robust CMU has to acknowledge the interdependencies with other financial sectors and has to be based on well-established existing structures; stresses the need for a holistic view of EU financial services regulation; to that end, the Commission should work closely with the ESRB, ESAs and National Competent Authorities to resolve any mismatches in approach that could risk undermining the objectives of the CMU;
Amendment 110 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Believes that a single market for financial services serves businesses, but ultimately has to benefit customers and investors; insists that barriers to cross- border access, marketing and investment have to be analysed and addressed and the re-development of local ecosystems needs to be considered further to enable the better functioning of markets for smaller companies seeking capital to grow;
Amendment 162 #
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Recognises the importance of the role of market makers in providing liquidity in European markets which needs to be considered when drafting policy initiatives to ensure there are no potential negative implications which could harm the provision of liquidity in European markets;
Amendment 170 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Is concerned about the lack of available and attractive risk-appropriate (long-term) investments and savings products for consumers; reiterates the need for diversity in investor and consumer choices; and stresses that an environment must be fostered that stimulates and rewards financial product innovation and provides enhanced incentives for investments;
Amendment 185 #
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Believes that a successful CMU should enable EU companies of all sizes and at different stages of growth, to increase in scale by accessing EU capital markets in a user-friendly, efficient and low-cost manner; stresses that a unified and streamlined primary market regulatory regime needs to be delivered to facilitate these companies seeking to raise funds while at the same time ensuring appropriate levels of protection for investors;
Amendment 230 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Believes companies should have access to an appropriate choice of market types in the EU depending on their size, complexity and fund-raising ambitions and stresses the need to have deeper, more integrated pan-European capital markets that are separate from but compatible with critically important regional local markets;
Amendment 244 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Recognises the efforts made to establish a more transparent securitisation market; emphasises that stringent requirements for underlying high-quality assets and calibrations according to the actual risk profile are necessary, bearing in mind the riskiness of securitisation as shown during the crisis; stresses the need to consider independent certification of qualifying criteria and not rely on self-attestation; calls on the Commission to conduct a thorough assessment of the benefits of securitisation for SMEs and the marketability of securitisation instruments as a matter of priority, and to report to Parliament;
Amendment 270 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Stresses that efforts for a cultural change in the financial sector have to be pursued further; in order to encourage SME borrowers to seek funding from alternative sources to banks while acknowledgesing the benefits of relationship banking for consumers and SMEand a long-term partnership approach to funding for consumers and SMEs; supports the creation of an equity culture through active financial education of both investors and companies;
Amendment 285 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Demands a stronger focus on the global competitiveness of the EU financial sectors when making policy and welcomes the Commission’s focus on ensuring that European requirements are aligned with global standards and practices and interoperable with a global framework;
Amendment 305 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Asks the Commission to propose a consistent and, coherent and practical framework for decisions on third-country equivalence; demands that all equivalence decisions be adopted by means of delegated acts;
Amendment 317 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. Believes that better financial regulation starts with Member States applying the current acquis; considers that gold-plating does not facilitate the functioning of the internal market; and undermines fair competition;
Amendment 330 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Calls on the Commission to ensure balanced participation in consultations by reflecting the diversity of stakeholders and providing better conditions for small stakeholders to participate; calls on the Commission to provide better opportunities for early and developmental stage consultation with all relevant stakeholders;
Amendment 339 #
Motion for a resolution
Paragraph 29
Paragraph 29
29. Welcomes the objectives of the better regulation agenda; underlines the role of REFIT in achieving an efficient and effective financial services regulation; stresses that the EU must not create an unintended compliance burden in the drive to bring about greater harmonisation under CMU;
Amendment 342 #
Motion for a resolution
Paragraph 29 a (new)
Paragraph 29 a (new)
29a. Considers that any review of financial services legislation should include an evaluation of the appropriateness and effectiveness of the legislation, including whether it is achieving its goal in a proportionate manner; underlines that regulatory initiatives envisaged under CMU should undergo a thorough economic impact assessment and a thorough check for consistency with other legislation;
Amendment 346 #
Motion for a resolution
Paragraph 30
Paragraph 30
30. Believes that the ESAs and SSM have a crucial role to play in achieving the objectives of better regulation and supervision with a view to ensure consistency of approach and that the policy goals of CMU are not undermined by other actions;