27 Amendments of Jakob von WEIZSÄCKER related to 2015/0268(COD)
Amendment 230 #
Proposal for a regulation
Recital 60
Recital 60
(60) The competent authority of theESMA should act as the single competent administrative authority responsible for carrying out the duties resulting from this Regulation. The national competent authorities referred to in Article 22 of Regulation (EU) No 596/2014 of the home and host Member State should be entitled to receive a certificate from the competent authority of the home Member State which states that the prospectus has been drawn up in accordance with this Regulation. The competent authority of the home Member State should also notify the issuer or the person responsible for drawing up the prospectus of the certificate of approval of the prospectus that is addressed to the authority of the host Member State in order to provide the issuer or the person responsible for drawing up the prospectus with certainty as to whether and when a notification has actually been made.
Amendment 234 #
Proposal for a regulation
Recital 62
Recital 62
(62) A variety of competent authorities in Member States, with different responsibilities, maywould create unnecessary costs and overlapping of responsibilities without providing any additional benefit. In each Member State,Therefore, ESMA as a single competent authority ishould be designated to approve prospectuses and to assume responsibility for supervising compliance with this Regulation. That competent authority should be established as an administrative authority andESMA should act in such a form that their independence from economic actors is guaranteed and conflicts of interest are avoided. The designation of aESMA as a single competent authority for prospectus approval should not exclude cooperation between that competent authority and other entities, such as banking and insurance regulators or listing authorities, with a view to guaranteeing efficient scrutiny and approval of prospectuses in the interest of issuers, investors, markets participants and markets alike. Delegation of tasks by athe competent authority to another entity should only be permitted where it relates to the publication of approved prospectuses.
Amendment 235 #
Proposal for a regulation
Recital 63
Recital 63
(63) A set of effective tools and powers and resources for the competent authorities of Member Statesy guarantees supervisory effectiveness. This Regulation therefore should in particular provide for a minimum set of supervisory and investigative powers with which the competent authorities of Member Statesy should be entrusted in accordance with national law. Those powers should be exercised, where the national law so requires, by application to the competent judicial authorities. When exercising theirits powers under this Regulation the competent authorities and ESMAy should act objectively and impartially and remain autonomous in their decision making.
Amendment 556 #
Proposal for a regulation
Article 24 – paragraph 1 – subparagraph 1
Article 24 – paragraph 1 – subparagraph 1
The competent authority of the home Member State shall, at the request of the issuer or the person responsible for drawing up the prospectus and within three working days following receipt of that request or, where the request is submitted together with the draft prospectus, within one working day after the approval of the prospectus, notify the national competent authority ofies referred to in Art 22 of Regulation (EU) No 596/2014 of the home and the host Member State with a certificate of approval attesting that the prospectus has been drawn up in accordance with this Regulation and with an electronic copy of that prospectus.
Amendment 559 #
Proposal for a regulation
Article 24 – paragraph 1 – subparagraph 3
Article 24 – paragraph 1 – subparagraph 3
The issuer or the person responsible for drawing up the prospectus shall be notified of the certificate of approval at the same time as the national competent authorityies referred to in Article 22 of Regulation 596/2014 of the host Member State.
Amendment 561 #
Proposal for a regulation
Article 24 – paragraph 3
Article 24 – paragraph 3
Amendment 562 #
Proposal for a regulation
Article 24 – paragraph 4
Article 24 – paragraph 4
4. Where the final terms of a base prospectus which has been previously notified are neither included in the base prospectus, nor in a supplement, the competent authority of the home Member State shall communicate them electronically to the national competent authorityies referred to in Article 22 of Regulation (EU) No 596/2014 of the home and of the host Member State(s) and to ESMA as s soon as practicable after they are filed.
Amendment 597 #
Proposal for a regulation
Article 29 – paragraph 1 – subparagraph 1
Article 29 – paragraph 1 – subparagraph 1
Each Member State shall designate aSMA is the single competent administrative authority responsible for carrying out the duties resulting from this Regulation and for ensuring that the provisions adopted pursuant to this Regulation are applied. Member States shall inform the Commission, ESMA and the other competent authorities of other Member States accordingly.(References to the CA and the national authorities in question in the rest of the text are to be adapted.)
Amendment 599 #
Proposal for a regulation
Article 29 – paragraph 2 – subparagraph 1
Article 29 – paragraph 2 – subparagraph 1
Amendment 600 #
Proposal for a regulation
Article 29 – paragraph 2 – subparagraph 3
Article 29 – paragraph 2 – subparagraph 3
The final responsibility for supervising compliance with this Regulation and for approving the prospectus shall lie with the competent authority designated in accordance with paragraph 1.
Amendment 601 #
Proposal for a regulation
Article 29 – paragraph 2 – subparagraph 4
Article 29 – paragraph 2 – subparagraph 4
Amendment 602 #
Proposal for a regulation
Article 30 – paragraph 1 – subparagraph 1 – introductory part
Article 30 – paragraph 1 – subparagraph 1 – introductory part
1. In order to fulfil their duties under this Regulation, the competent authoritiesy shall have, in accordance with national law, at least the following supervisory and investigatory powers:
Amendment 605 #
Proposal for a regulation
Article 30 – paragraph 1 – subparagraph 2
Article 30 – paragraph 1 – subparagraph 2
Where necessary under national law, the competent authority may ask the relevant judicial authority to decide on the use of the powers referred to in the first subparagraph. In accordance with Article 21 of Regulation (EU) No 1095/2010, ESMAThe competent authority shall be entitled to participate inconduct on-site inspections referred to in point (n) where they are carried out jointly by two or more competent authorities.
Amendment 607 #
Proposal for a regulation
Article 30 – paragraph 2 – introductory part
Article 30 – paragraph 2 – introductory part
2. CThe competent authoritiesy shall exercise theirits functions and powers, referred to in paragraph 1, in any of the following ways:
Amendment 608 #
Proposal for a regulation
Article 30 – paragraph 3
Article 30 – paragraph 3
3. Member States shall ensure that appropriate measures are in place so that the competent authoritiesy haves all the supervisory and investigatory powers that are necessary to fulfil theirits duties.
Amendment 609 #
Proposal for a regulation
Article 30 – paragraph 5
Article 30 – paragraph 5
Amendment 610 #
Proposal for a regulation
Article 31
Article 31
Amendment 613 #
Proposal for a regulation
Article 32 – title
Article 32 – title
Cooperation with ESMAnational market abuse authorities
Amendment 614 #
Proposal for a regulation
Article 32 – paragraph 1
Article 32 – paragraph 1
1. The national competent authorities referred to in Article 22 of Regulation (EU) No 596/2014 shall cooperate with ESMA for the purposes of this Regulation, in accordance with Regulation (EU) No 1095/2010.
Amendment 615 #
Proposal for a regulation
Article 32 – paragraph 2
Article 32 – paragraph 2
2. The national competent authorities referred to in Article 22 of Regulation (EU) No 596/2014 shall without delay provide ESMA with all information necessary to carry out its duties, in accordance with Article 35 of Regulation (EU) No 1095/2010.
Amendment 616 #
Proposal for a regulation
Article 33 – paragraph 1
Article 33 – paragraph 1
1. All the information exchanged between the competent authoritiesy and the national competent authorities referred to in Article 22 of Regulation (EU) No 596/2014 under this Regulation that concerns business or operational conditions and other economic or personal affairs shall be considered to be confidential and shall be subject to the requirements of professional secrecy, except where the competent authority states at the time of communication that such information may be disclosed or such disclosure is necessary for legal proceedings.
Amendment 617 #
Proposal for a regulation
Article 33 – paragraph 2
Article 33 – paragraph 2
2. The obligation of professional secrecy shall apply to all persons who work or who have worked for the competent authority or for any entity to whom the competent authority has delegated its powers or for the national competent authorities referred to in Article 22 of Regulation (EU) No 596/2014. Information covered by professional secrecy may not be disclosed to any other person or authority except by virtue of provisions laid down by Union or national law.
Amendment 618 #
Proposal for a regulation
Article 34 – paragraph 1
Article 34 – paragraph 1
With regard to the processing of personal data within the framework of this Regulation, the national competent authorities referred to in Article 22 of Regulation (EU) No 596/2014 shall carry out their tasks for the purposes of this Regulation in accordance with the national laws, regulations or administrative provisions transposing Directive 95/46/EC.
Amendment 619 #
Proposal for a regulation
Article 34 – paragraph 2
Article 34 – paragraph 2
With regard to the processing of personal data by ESMAthe competent authority within the framework of this Regulation, ESMAthe competent authority shall comply with the provisions of Regulation (EC) No 45/2001.
Amendment 620 #
Proposal for a regulation
Article 35 – paragraph 1
Article 35 – paragraph 1
1. Where thea national competent authority of the host Member Statereferred to in Article 22 of Regulation (EU) No 596/2014 finds that irregularities have been committed by the issuer, the offeror or the person asking for admission to trading or by the financial institutions in charge of the offer to the public or that those persons have infringed their obligations under this Regulation, it shall refer those findings to the competent authority of the home Member State and to ESMA.
Amendment 621 #
Proposal for a regulation
Article 35 – paragraph 2
Article 35 – paragraph 2
Amendment 622 #
Proposal for a regulation
Article 35 – paragraph 3
Article 35 – paragraph 3