2 Amendments of Luigi MORGANO related to 2017/0231(COD)

Andrea COZZOLINO, Luigi MORGANO, Simona BONAFÈ

Proposal for a directive
Article 2 – paragraph 1 – point -1 (new)

Directive 2009/138/EC
Article 26 – paragraph. 1 – point ca (new)

(-1) In paragraph 1 of Article 26, the following point (ca) is added: “(ca) an undertaking whose business plan entails that material part of its activities will be done on the basis of freedom to provide services or freedom of establishment in that Member State. The same information shall be provided to EIOPA which may decide to set up and coordinate collaboration platforms to foster the exchange of information, an enhanced collaboration among the competent authorities and to reach a common view on the granting of the authorization. In case the concerned competent authorities fails to reach a common view in the collaboration platform within a time limit established by EIOPA, EIOPA may issue recommendations to the competent authorities concerned, including recommendation to refuse the authorisation. Where the competent authorities of the Member State concerned do not follow the recommendation of EIOPA within 15 working days, they shall state the reasons including the steps they have taken or intend to take in order to address the concerns of the other competent authorities involved. EIOPA shall assess those steps and decide whether they are sufficient and appropriate. In case they are not deemed appropriate, EIOPA makes its recommendation public together with those reasons and proposed steps.”

2018/09/11
Committee: ECON

Andrea COZZOLINO, Luigi MORGANO, Simona BONAFÈ

Proposal for a directive
Article 2 – paragraph 1 – point -1 a (new)

Directive 2009/138/EC
Article 34a (new)

(-1 a) Article 34a in inserted: “Article 34a Exchange of information in the on-going supervision between the competent authorities of the home Member State and the competent authority of the host Member State for reason of policyholder’s protection 1. The supervisory authorities of the home Member State shall notify EIOPA and the competent authorities of the host Member State without delay where they identify any deteriorating financial condition or other emerging risks potentially affecting the protection of policyholders resulting by the activity of an undertaking under their supervision. These notifications to EIOPA shall be sufficiently detailed to allow for a proper assessment by EIOPA. 2. EIOPA may set up and coordinate collaboration platforms to foster the exchange of information, an enhanced collaboration among the competent authorities involved and to reach a common view on the action to be taken on cases referred to in paragraph 1. 3. In case the concerned competent authorities fail to reach a common view in the collaboration platform within a time limit established by EIOPA, EIOPA may issue recommendations to the competent authorities concerned, including a recommendation to withdraw the authorisation. Where the competent authorities concerned do not follow the recommendations of EIOPA within 15 working days, they shall state the reasons including the steps they have taken or intend to take in order to address the concerns of the other competent authorities involved. EIOPA shall assess those steps and decide whether they are sufficient and appropriate. In case they are not deemed appropriate, EIOPA makes its recommendation public together with those reasons and proposed steps. 4. Whether EIOPA ascertains, on the basis of the information received as the result of the regulatory reporting obligations for undertakings active in more than one Member State, that an undertaking carries out its activity entirely or principally in another Member State, it shall inform the concerned authorities and may set up collaboration platforms as referred to in paragraph 2.”

2018/09/11
Committee: ECON

2 Amendments of Luigi MORGANO related to 2017/0231(COD)

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