[ParlTrack]

Mady DELVAUX, Costas MAVRIDES, Alfred SANT

Proposal for a regulation
Recital 31

(31) Separation has a significant impact on banking groups’ legal, organisational and operational structure. To insure an effective and efficient application of separation and to prevent separation of groups along geographic lines, separation decisions should be taken ~~at group level~~jointly by the consolidating supervisor~~, having consulte~~ and the competent authorities of a banking group’s significant subsidiaries ~~as appropriate~~.

2015/02/04
Committee: ECON

Mady DELVAUX

Proposal for a regulation
Article 6 – paragraph 3

3. The restrictions laid down in point (b) of paragraph 1 shall not apply with regard to ~~closed-ended and unleveraged AIFs as defined in Directive 2011/61/EU~~AIFs that do not use leverage on a substantial basis as defined in Article 111 of the Commission Delegated Regulation 231/2013 where those AIFs are established in the Union or, if they are not established in the Union, they are marketed in the Union according to Articles 35 or 40 of Directive 2011/61/EU , to qualifying venture capital funds as defined in Article 3(b) of Regulation (EU) No 345/2013, to qualifying social entrepreneurship funds as defined in Article 3(b) of Regulation (EU) No 346/2013, and to AIFs authorized as ELTIFs in accordance with Regulation (EU) No [XXX/XXXX].

2015/02/03
Committee: ECON

Mady DELVAUX, Costas MAVRIDES, Alfred SANT

Proposal for a regulation
Article 26 – paragraph 4 – subparagraph 1

For the purposes of this Regulation, the consolidating supervisor shall be deemed to be the competent authority with regard to all group entities that belong to the same group as the EU parent and that are subject to this Regulation. The consolidating supervisor and the competent authorities responsible for the supervision on an individual basis of subsidiaries in a Member State shall do everything within their power to reach a joint decision on the application of Articles 9, 10 and 18. The joint decision referred to in sub- paragraph 1 shall be reached within four months after submission by the consolidating supervisor of a report containing the assessment conducted in accordance with Article 9 to the competent authorities responsible for the supervision on an individual basis of the subsidiaries. The joint decision shall be set out in a document containing full reasons, which shall be provided to the EU parent institution by the consolidating supervisor. The joint decision shall duly consider the assessment of subsidiaries performed by their respective competent authorities in accordance with Articles 9 and 10. The joint decision procedure set out in Article 113, paragraphs 3 and 4 of Directive 2013/36/EU [CRD IV] shall apply. A decision or joint decision on the application of Article 9, 10 or 18 shall not have disproportionate impact on any Member State.

2015/02/03
Committee: ECON

3 Amendments of Mady DELVAUX related to 2014/0020(COD)

ParlTrack - 2011-2024